Baker Hughes reported Friday that for the week ending May 10, the US rig count increased by five to 1,769, following a 10-rig increase a week ago. Nonetheless, the rig count was still down 205 rigs from the same week a year ago when active drilling rigs totaled 1,974. Oil rigs increased by nine to 1,412 but were partially offset by a four-rig decrease in gas rigs. Active rigs drilling for gas were 350 during the week.
On the other hand, Canada's rig count was down by three to 118, marking the sixth consecutive weekly decline. Canada's rig count is down two from 120 active drilling rigs in the same week a year ago.