Rig counts rose modestly this week, according to Baker Hughes. Both oil and gas rigs continued the trend lines established last summer. Oil rigs rose by 4 to 529, with gains in the Permian (+3) and Eagle Ford (+1).
Gas rigs rose by a net 3, with major basins gaining: Haynesville (+2), Utica (+1) and Marcellus (+1).
In Canada, the post holiday drilling recovery began in earnest, with oil rigs up 29 this week after falling by 54 in the prior week. Gas activity was stronger, with a bounce to a new year high. Gas rigs were up +23 to 123 after falling by 13 last week:
