Drill rig activity stabilizes in US and Canada

Oil and gas drill rig activity in the US inched lower last week while holding steady in Canada, according to the latest report from oilfield services provider Baker Hughes. US rig counts have remained rangebound for the past two months, hovering near low levels last seen in late 2021. Meanwhile, activity in Canada has increased since a mid-May seasonal low and is now nearing a five-month high.

Note: We recently published our monthly Energy Market Update to Premium members, covering North American oil and natural gas prices, drilling rig activity, and crude oil stock levels. For information on how to upgrade to a Premium-level subscription, contact info@steelmarketupdate.com.

Brett Linton

Brett Linton is a digital operations analyst for Steel Market Update, where he began his career. Linton has been in the steel industry since 2010. He has held roles as a category manager and strategic insights director at Reibus before returning to SMU in 2024. He is a graduate of The University of North Georgia with a degree in Finance and Accounting. Brett can be reached at brett@steelmarketupdate.com or 724-314-0179.