U.S. Rig Counts Continue To Grow

According to the most recent Baker Hughes Rig Count, released Dec. 23, the U.S. Rig Count added two rigs to the previous week’s total to reach 348 rigs. Oil rigs rose by one to 264, gas rigs added two to 83, and miscellaneous rigs declined by one for a total of one.

The U.S. rig count was down 457 rigs from last year’s count of 805, with oil rigs off by 413, gas rigs down 42, and miscellaneous rigs off by two.
The U.S. offshore rig count added one to total 17, but is down by six year-over-year.

The Canada rig count fell by 20 from a week earlier to 82, Baker Hughes reported. Oil rigs were down 10 to 31, and gas rigs were off by 10 to 51.
The Canada rig count was down 17 rigs from last year’s count of 99, with oil rigs down by 21 and gas rigs up by four.

SOURCE: The Weekly Propane Newsletter, December 30, 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.