The Baker Hughes North American rig count is up 15 in the May 26 week to 1,001, posting the fourth weekly increase in a row. The U.S. rig count is up 7 to 908 and is up 504 rigs from last year. The Canadian count is up 8 from last week to 93, and compared to last year is up 50 rigs.
The Canadian count registered the second weekly gain after a precipitous decline during the Spring Breakup, which makes Canadian rig operations nearly impossible every year from around the beginning of March to the end of May.
For the U.S. count, rigs classified as drilling for oil are up 2 to 722, gas rigs are up 5 to 185, and miscellaneous rigs are unchanged at 1. For the Canadian count, oil rigs are up 4 to 40 and gas rigs are also up 4 to 53.