October Ends With An Increased Rig Count

For the period ended Oct. 30, the U.S. rig count rose by nine rigs from last week to 296. Oil rigs increased by 10 to 221, gas rigs fell by one to 72, and miscellaneous rigs remained unchanged at three.

The U.S. rig count is 526 rigs less than last year’s count of 822. Oil rigs decreased by 470, gas rigs were off by 58, and miscellaneous rigs were up two.
The U.S. offshore rig count is unchanged at 13, but down nine units year-over-year.

The rig count in Canada grew by three from last week to a total of 86. Oil rigs are down two to 40, while gas rigs added five to hit 46 rigs.
Compared to last year, Canada’s rig count is down 56 rigs from 142, with oil rigs off 53 and gas rigs down three.

SOURCE: The Weekly Propane Newsletter, November 5, 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.