U.S. Rig Count Gains Five

According to the most recent Baker Hughes Rig Count, released Jan. 22, the U.S. rig count gained five from the previous week to reach 378. Oil rigs were up two to 289, gas rigs were up three to 88, and miscellaneous rigs were unchanged at one.

The U.S. rig count was down 416 rigs from last year’s count of 794, with oil rigs down 387, gas rigs down 27, and miscellaneous rigs down two.
The U.S. offshore rig count was unchanged at 16, down five year-over-year.

The Canada rig count added 11 from the previous week to reach 172, with oil rigs up six to 96, and gas rigs up five to 76.
The Canada rig count was down 72 rigs from last year’s count of 244, with oil rigs down 58, and gas rigs down 14.

Source: The Weekly Propane Newsletter, January 28, 2021. 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.