Canadian rig count plunges again while US count maintains upward trend

Baker Hughes has reported that for the week ending March 17 the US rotary rig count increased by 21 to 789 following a 12-rig increase the week before. The number of rigs drilling for gas increased by six to 157, while the number of rigs drilling for oil increased by 14 to 631. The overall rig count is now up by 313 rigs in a year-on-year comparison.
 
Meanwhile, the Canadian rig count decreased by 39 to 276 rigs in the week ending March 17, following a 20-rig decrease the week before. The Canadian rig count is now up by 207 rigs from the same week a year ago.