Rig Counts on the Rise

According to the most recent Baker Hughes Rig Count released Dec. 11, the U.S. Rig Count added 15 to the previous week’s total to hit 338 rigs. Oil rigs were up by 12 to 258, gas rigs rose by four to 79, and miscellaneous rigs were off by one to one.

The U.S. rig count was down 461 rigs from last year’s count of 799, with oil rigs off by 409, gas rigs down 50, and miscellaneous rigs down two.
The U.S. offshore rig count was unchanged at 13, but down by 10 year-over-year.

The Canada rig count rose by nine from a week earlier to 111, Baker Hughes reported. Oil rigs were up by 12 to 52, and gas rigs were declined by three to 59.

The Canada rig count was down 42 rigs from last year’s count of 153, with oil rigs off by 44 and gas rigs higher by two.

SOURCE: The Weekly Propane Newsletter, December 17, 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.