Rig counts trend lower in US and Canada

Oil and gas drilling activity eased in both the US and Canada this week, according to Baker Hughes. US rig counts remain near multi-year lows, and Canadian activity continues its seasonal slowdown.

US drilling activity eased by three rigs to 584 rigs this week, the second-lowest weekly rate seen in the last three months. Drilling activity has remained at reduced levels for nearly a year, recently falling to a three-year low of 576 rigs in January. At this time last year, the US had 21 more rigs in operation.

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.

Brett Linton

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