Canada and United States Rig Activity as of 01/10/25

Recent Notes

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Baker Hughes Rig Count (as of 01/10/25)

• Current week total rig activity was 214, up from 92 rigs the previous week

• Rig adds were in all drilling regions

• There were no rig reductions

Rig Count by E&P (as categorized by OilGasPages.com)

• Rig activity for the week of 1/10/25 by Canadian Companies Mentioned totaled 113, up from 55 rigs from the prior week

• Rig count leaders by E&P include TOU (16), CVE (14), CNQ (13), WCP (13), and VRN (9)

• Rig adds were CVE (+13), WCP (+7), VRN (+6), BTE (+6), TVE (+6)

• Rig reductions were TOU (-1)

• Among US-based E&Ps operating in Canada, OVV increased its rig count from 1 to 3 rigs, COP and MUR increased their rig counts from 1 to 2 rigs each, and CVX remains steady at 1 rig

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United States Baker Hughes Rig Count (as of 01/10/25)

• Current week total rig activity was at 584, down from 589 rigs the previous week

• No rig adds this week

• Rig reductions were in the Eagle Ford (-2), the Marcellus (-1) and Other - Texas and Utah (-2)

Rig Count by E&P (as categorized by OilGasLeads.com)

• Rig activity for the week of 1/3/25 by Companies Mentioned totaled 299, up from 292 the previous week.

• Rig count leaders by E&P, and aggregated by proposed merger include XOM (39), COP (35), EOG (27), OXY (24), and DVN (22)

• Rig adds were XOM (+2), EOG (+6), DVN (+1), CVX (+2) and PR (+3)

• Rig reductions were COP (-2), OXY (-7), EXE (-3), and MTDR (-1)

United States Frac Spreads (as tabulated by The American Oil & Gas Reporter)

• Frac spread activity for the week of 1/10/25 was 195, down from the previous week (201).

Canada & United States Companies Mentioned

• Tourmaline Oil Corp. (TOU)

• Canadian Natural Resources Limited (CNQ)

• Cenovus Energy Inc. (CVE)

• ARC Resources Ltd. (ARX)

• Baytex Energy Ltd. (BTE)

• Veren Inc. (VRN)

• Peyto Exploration & Development Corp. (PEY)

• Tamarack Valley Energy Ltd. (TVE)

• Whitecap Resources (WCP)

• Paramount Resources Ltd. (POU)

• Birchcliff Energy Ltd. (BIR)

• Vermilion Energy Inc. (VET)

• NuVista Energy Ltd. (NVA)

• Suncor Energy Inc. (SU)

• MEG Energy Corp. (MEG)

• Imperial Oil Resources (IMO)

• Athabasca Oil Corporation (ATH)

• ConocoPhillips Canada Resources Corp. (COP)

• Ovintiv Canada Ulc (OVV)

• Murphy Oil Corp (MUR)

• Exxon Mobil Corporation (XOM)

• Chevron Corporation (CVX)

• Expand Energy (EXE)

• EOG Resources, Inc. (EOG)

• EQT Corporation (EQT)

• Occidental Petroleum Corporation (OXY)

• Coterra Energy Inc. (CTRA)

• Devon Energy Corporation (DVN)

• Antero Resources Corporation (AR)

• Diamondback Energy, Inc. (FANG)

• APA Corporation (APA)

• Range Resources Corporation (RRC)

• Comstock Resources, Inc. (CRK)

• Permian Resources Corporation (PR)

• Matador Resources Company (MTDR)

• Civitas Resources Inc. (CIVI)

• CNX Resources Corporation (CNX)

• Chord Energy Corporation (CHRD)

• Magnolia Oil & Gas Corporation (MGY)

• SM Energy Company (SM)

• Crescent Energy Company (CRGY)

• High Peak Energy Inc. (HPK)

_{Disclaimer: All information contained in this publication has been researched and compiled from sources believed to be accurate and reliable at the time of publishing. However, in view of the natural scope for human and/or mechanical error, either at source or during production, Patrick Enwright accepts no liability whatsoever for any loss or damage resulting from errors, inaccuracies or omissions affecting any part of the publication. All information is provided without warranty, and Patrick Enwright makes no representation of warranty of any kind as to the accuracy or completeness of any information hereto contained.}