Canadian rig count sees another sharp plunge while US count continues to rise

Baker Hughes has reported that for the week ending March 24 the US rotary rig count increased by 20 to 809 following a 21-rig increase the week before. The number of rigs drilling for gas decreased by two to 155, while the number of rigs drilling for oil increased by 21 to 652. The overall rig count is now up by 345 rigs in a year-on-year comparison.
 
Meanwhile, the Canadian rig count plunged by 91 to 185 rigs in the week ending March 24, following a 39-rig decrease the week before. The Canadian rig count is now up by only 130 rigs from the same week a year ago.