U.S. Rig Count Gains 5

According to the latest Baker Hughes Rig Count, released February 26, the United States rig count was up five from the previous week at 402. Oil rigs were up four to 309, gas rigs were up one to 92, and miscellaneous rigs were unchanged at one.

• The U.S. rig count was down 388 rigs from last year’s count of 790, with oil rigs down 369, gas rigs down 18, and miscellaneous rigs down one.
• The U.S. offshore rig count was up one to 17, but down five year-over-year.
• The Canada rig count was down nine from the previous week to 163. Oil rigs were down eight to 92, and gas rigs were down one to 71.
• The Canada rig count was down 77 rigs from last year’s count of 240, with oil rigs down 71, and gas rigs down six.