Canadian rig count surges up by 110 rigs while US count reverses trend

Baker Hughes has reported that for the week ending January 13, the US rotary rig count decreased by six to 659 following a seven-rig increase the week before. The number of rigs drilling for gas increased by one to 136, while the number of rigs drilling for oil decreased by seven to 522. The overall rig count is now up by nine rigs in a year-on-year comparison.
 
Meanwhile, the Canadian rig count surged by 110 to 315 rigs in the week ending January 13, following a 48-rig increase the week before. The Canadian rig count is now up by 88 rigs from the same week a year ago.