Friday, December 2, 2016

Rig Counts: Oil +3, Gas +1

In the 9-day week including the Thanksgiving holiday, US rig counts changed little.  Perhaps the holiday subdued activity.  In Canada, where no such holiday interfered, big changes were in process.  Oil rigs were up 6, and gas rigs up 20!  

What's going on in the natural gas fields of Western Canada?  The rig count is nearly on par with the US, though production is currently only 1/5 of the US volume.  Surely this portends major production growth?