According to the latest report by Baker Hughes, for the week ending February 24, the Canadian rig count decreased by 4 to 701 rigs and was up 78 year-on-year.
The US rig count also declined during the week ending February 24, decreasing by 13 to 1,981 rigs but remained up 282 year-on-year. Oil rigs decreased last week by 7 to 1,265 but were up 482 rigs from the same week a year ago, while gas rigs also decreased by 6 to 710, and were down 196 rigs year-on-year.