The Baker Hughes North American rig count is down 13 rigs in the September 1 week to 1,144, the fifth consecutive weekly drop in a decline that halted a long string of weekly increases in the previous months. Despite expectations that the number of Texas rigs would fall significantly due to the devastating impact on the region by Hurricane Harvey, Texas rigs are down by only 1 rig to 455, while the overall U.S. rig count is up 3 rigs on the week to 943 and is up 446 rigs from last year at this time. It was a sharp 16-rig decline in Canada that overshadowed a U.S. increase this week, putting the volatile Canadian rig count at 201, which is 64 rigs above the level a year ago.
For the U.S. count, rigs classified as drilling for oil are unchanged on the week at 759 while gas rigs are up 3 to 183. For the Canadian count, oil rigs are down 13 to 102 while gas rigs are down 3 to 99.