Oil Rigs Fall in Western Canada, Gas Rigs Rise Amid Seasonal Lull

The oil-directed rig count in Western Canada fell by 6 to 142 rigs for the week ended August 7, according to Baker Hughes data.

The gas-directed rig count rose by 2 to 65 rigs, with 2 new rigs added in British Columbia and no change in Alberta and Saskatchewan.

Compared to last year at this time, the gas-directed rig count is up by 12, while the oil-directed rig count is 19 higher. However, both counts are below their respective five-year highs for this time of year, with the gas-directed count 5 lower and the oil-directed count 4 lower.