November U.S. Rig Count On The Rise

Moving into November 2020, the Nov. 6 U.S. rig count rose by four rigs to 300. Oil rigs were up by five to 226, gas rigs down one to 71, and miscellaneous rigs once again remained unchanged at three.

The U.S. rig count is down 517 rigs from last year’s count of 817. Oil rigs decreased by 458, gas rigs were down by 59, and miscellaneous rigs were unchanged.
The U.S. offshore rig count declined by one to 12, and is off by 11 units year-over-year.

The rig count in Canada is unchanged from last week’s 86 rigs. Oil rigs are down three to 37, while gas rigs added three to hit 49 rigs.

Compared to last year, Canada’s rig count is down 54 rigs from 140, with oil rigs down 60 and gas rigs up six.

SOURCE: The Weekly Propane Newsletter, November 12, 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.