Baker Hughes has reported that for the week ending May 5, 2023, the US rotary rig count declined by 8 rigs, to 725.
The number of rigs drilling for gas declined by 4 to 157, while the number of rigs drilling for oil declined by 3 to 588. The overall US rig count is up by 31 rigs in a year-on-year comparison.
Meanwhile, the Canadian rig count remained steady at 93 rigs in the week ending May 5. The Canadian rig count is down by two rigs compared to the same reporting period last year.