November 2020 U.S. Rig Count On The Rise

By mid-month, the Nov. 13 U.S. rig count rose by 12 rigs to 312 over the week. Oil rigs were up by 10 to 236, gas rigs added two to 73 rigs, and miscellaneous rigs continued unchanged at three.

The U.S. rig count is off 494 rigs from last year's count of 806. Oil rigs were down by 438, gas rigs were off by 56, and miscellaneous rigs were unchanged.

The U.S. offshore rig count added one unit for a total of 13, and is nine rigs less year-over-year.

The rig count in Canada gained three from last week to hit 89 rigs. Oil rigs are two higher at 39, while gas rose by one to 50 rigs.

Compared to last year, Canada’s rig count is down 45 rigs from the prior year’s 134, with oil rigs down 49 and gas rigs up by four.

SOURCE: The Weekly Propane Newsletter, November 19, 2020. Weekly Propane Newsletter subscribers receive all the latest posted and spot prices from major terminals and refineries around the U.S. delivered to inboxes every week. Receive a center spread of posted prices with hundreds of postings updated each week, along with market analysis, insightful commentary, and much more not found elsewhere.