US rig count continues to rise as Canadian rig count dips

Baker Hughes has reported that for the week ending February 3, the US rotary rig count increased by 17 to 729 following an 18-rig increase the week before. The number of rigs drilling for gas remained stable at 145, while the number of rigs drilling for oil increased by 17 to 583. The overall rig count is now up by 158 rigs in a year-on-year comparison.
 
Meanwhile, the Canadian rig count decreased by two to 343 rigs in the week ending February 3, following a three-rig increase the week before. The Canadian rig count is now up by 101 rigs from the same week a year ago.