Friday, February 14, 2014

Canadian Natural Gas Rig Counts

The high profile decline in US natural gas drilling rigs over the last cycle has drawn attention away from the gas development push in Canada.  There are now 209 gas rigs working in Canada, vs 337 in the US.  It hasn't been reflected in output yet, but the army of gas rigs being deployed in western Canada over the last year is sure to pay off in increased volumes soon.  Here is the trend in gas directed drilling activity by province: