Canada
February 6, 2026
Baker Hughes: US, Canada gas drilling up, oil down from last year
Written by Laura Miller
Baker Hughes’ latest rig count report shows oil and gas drilling picked up in the US this week, but slowed in Canada. Oil drilling in both countries is down from last year, while gas drilling has picked up, mainly in the US.
The US total rig count rose to 551 during the week ended Feb. 6, with oil rigs rising by one and gas rigs increasing by five. There are 68 fewer active oil rigs than at this time last year, while 30 more gas rigs are in operation.
In Canada, drilling slowed from the previous week, with active oil rigs decreasing by one and gas rigs declining by three for a total of 228 active rotary rigs. Compared to this time last year, there is one more active gas rig in Canada and 22 fewer gas rigs in operation.
Baker Hughes reported an international rig count of 1,079 rigs for the month of January. The count increased by 14 rigs from the previous month but was down by 20 rigs from last year’s count.
The Baker Hughes rig count is significant for the steel industry because it is a leading indicator of oil country tubular goods (OCTG) demand, a key end market for steel sheet.
