N. American rig activity feels Canadian drag

Nov 11, 2009 | 05:41 AM | Maria Guzzo

The North American rig count fell for the first time in nearly three months due to a drop in Canadian activity that was spurred by an energy product glut and warmer weather.

The North American rotary rig count fell to 1,311 during the week ended Nov. 6, down 0.5 percent from 1,318 rigs in operation the previous week, according to the latest data from Baker Hughes Inc., Houston. The drop was the first since Aug. 14, when 1,138 rigs were operating in North America, and was just one of three weekly declines registered since June 19.

In the United States, the rig count of 1,078 as of Nov. 6 was up 0.8 percent from 1,069 a week earlier, while the Canadian tally of 233 was down 6.4 percent from 249 in the same comparison.....

Latest Pricing Trends


Are you stocking more inventory today than 18 months ago?


View previous results