Canada and United States Rig Activity, as of 10/04/24

Canada and United States Rig Activity, as of 10/04/24

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Baker Hughes Rig Count

• Current week total rig activity was at 221, up from 216 rigs the previous week

• Rig adds were in Foothills AB (+1), East-Central AB (+4) and SE SK (+4)

• Rig reductions were in NE BC (-2), NE AB (-1), and Central SK (-1)

Rig Count by E&P

• Rig activity for the week of 10/04/24 by Canadian Companies Mentioned totaled 93, down from 96 rigs from the prior week

• Rig count leaders by E&P include CVE (15), TOU (12), CNQ (9), WCP (8), VRN (8)

• Rig adds included TOU (+1) and ATH (+2)

• Rig reductions included CVE (-1), CNQ (-2), WCP (-1), ARX (-1) and MEG (-1)

• Among US-based E&Ps operating in Canada, COP is operating 2 rigs, down from 4 rigs, while OVV increased its rig activity from 1 to 3 rigs

United States Baker Hughes Rig Count (as of 10/4/24)

• Current week total rig activity was at 585, down from 587 rigs the previous week

• Rig adds were in the DJ-Niobrara (+1), the Haynesville (+1) and the Marcellus (+1)

• Rig reductions were in the Permian (-2) and Other - Louisiana, Oklahoma & Colorado (-3)

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

• Rig activity for the week of 9/22/24 by Companies Mentioned totaled 277, down from 279 the previous week.

• Rig count leaders by E&P, and aggregated by proposed merger include XOM (37), COP/MRO (28), EOG (24), OXY (23), DVN (23), CVX (23) and FANG (20)

• No rig adds this week

• Rig reductions were COP/MRO (-2)

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

• Frac spread activity for the week of 10/04/24 was 236, down 2 frac spreads from the previous week (238).

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)

• Chesapeake Energy Corporation (CHK)

• Southwestern Energy Company (SWN)

• 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)

• Endeavor Energy Resources, LP (Private)

• Marathon Oil Corporation (MRO)

• 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.}