Baker Hughes reported Friday that for the week ending February 1, the US rig count increased by 11 to 1,764, following an increase the prior week. On a year-on-year basis, the US rig count was still down 233 rigs. Rigs drilling for oil increased by 17 to 1,332 while gas-directed rigs dropped by six to 428.
Canada's rig count increased by four to 625, following a double and triple-digit gains over the last few weeks. Even so, Canada's rig count was down 85 rigs from the same week a year ago.