The Baker Hughes North American rig count plummeted by an outsized 76 rigs in the December 29 week to 1,065, dominated for the second week in a row by a seasonal weather-related decline in Canada. The U.S. rig count is down 2 rigs from last week to 929 and is up 271 rigs from last year at this time. The Canadian count is down 74 rigs from last week to 136 and is down 21 rigs compared to last year.
For the U.S. count, rigs classified as drilling for oil remained unchanged at 747 while gas rigs are down 2 rigs at 182. For the Canadian count, oil rigs are down 58 at 62 and gas rigs are down 16 at 74.