Baker Hughes has reported that for the week ending February 5, the US rotary rig count dropped by 48, following an 18-rig decline the week before. This brings the current US rotary rig count to 571. The number of rigs drilling for gas declined by 17 to 104, while the number of rigs drilling for oil declined by 31 to 467. The overall rig count is still down by 885 rigs, year-on-year.
Meanwhile, the Canadian rig count increased by 11 in the week ending February 5 to 242, following a 19-rig decrease the week before. The Canadian rig count is still down by 139 from 381 rigs during the same week a year ago.