November 2020 U.S. Rig Count Dips

The Nov. 20 U.S. rig count fell by two rigs to 310 over the week. Oil rigs were off by five to 231, gas rigs were up three to 76 rigs, and miscellaneous rigs continued unchanged at three.

The U.S. rig count was down 493 rigs from last year’s count of 803. Oil rigs were down by 440, gas rigs were off by 53, and miscellaneous rigs were unchanged.

The U.S. offshore rig count decreased by one unit for a total of 12, and was 10 rigs less year-over-year.

The rig count in Canada rose by 12 from last week to hit 101 rigs. Oil rigs were three higher at 42, while gas increased by nine to 59 rigs.

Compared to last year, Canada’s rig count is down 36 rigs from the prior year’s 137 with oil rigs down 44 and gas rigs up by eight.

SOURCE: The Weekly Propane Newsletter, November 25, 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.