Friday, December 9, 2016

Baker Hughes Rig Counts: US and Canadian Rig Counts Spike

US oil and gas rig counts swelled in the first full week after the thanksgiving holidays, with oil rigs up 21 rigs (mostly in the Permian/Eagle Ford in Texas), and gas rigs up 6 (Marcellus and Granite Wash each adding 2 rigs).  

Meanwhile Canadian rig counts are on fire, with oil up 17, and gas up 14.  Canadian gas rig counts are almost on par with the US.  Will production reflect that soon?  I think so.