U.S. Rig Count Rises

According to the latest Baker Hughes Rig Count, released Dec. 4, the U.S. Rig Count was up three from the previous week to 323. Oil rigs were higher by five at 246, gas rigs were down two to 75, and miscellaneous rigs were unchanged at two.

The U.S. rig count was down 476 rigs from last year’s count of 799, with oil rigs off by 417, gas rigs down 58, and miscellaneous rigs, again, down one.
The U.S. offshore rig count was one higher at 13, but down nine year-over-year.

The Canada rig count was unchanged from a week earlier at 102, Baker Hughes reported. Oil rigs were up by two to 40, and gas rigs were lower by two to 62.

The Canada rig count was down 36 rigs from last year’s count of 138, with oil rigs off 47 and gas rigs higher by 11.

SOURCE: The Weekly Propane Newsletter, December 10, 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.