US rig count takes major dip while Canada’s moves up

Baker Hughes reported Friday that for the week ending August 23, the US rig count fell by 15 to 1,776, compared to a 13-rig increase last week. The rig count was also down 122 from 1,898 rigs during the same week a year ago. The oil rig count dropped by 15 to 1,382, and the gas rig count was down by one to 387.

Meanwhile, the Canadian rig count surged by 25 this past week to 383, compared to a steady count a week ago. The rig count was up 49 from 334 rigs during the same week a year ago.