Canada and United States Rig Activity, as of 10/18/24

Earnings Releases, 3Q24

• Matador Resources (MTDR), 10/23/24, 10:00AM CT (link)

• Range Resources (RRC), 10/23/24, 8:00AM CT (link)

• CNX Resources (CNX), 10/24/24, 9:00AM CT (link)

Canada and United States Rig Activity, as of 10/18/24

New to the newsletter? Check out the archive (here) to review prior rig count and research notes.

Baker Hughes Rig Count

• Current week total rig activity was at 215, down from 217 rigs the previous week

• Rig adds were in the Foothills (+1) and East-Central AB (+1)

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

Rig Count by E&P

• Rig activity for the week of 10/18/24 by Canadian Companies Mentioned totaled 96, down from 100 rigs from the prior week

• Rig count leaders by E&P include CVE (15), TOU (13), CNQ (13), WCP (8), VRN (7)

• Rig adds included WCP (+1), VET (+1), BTE (+2) and IMO (+1)

• Rig reductions included VRN (-2), ARX (-1), PEY (-2), ATH (-1), SU (-1), BIR (-1)

• Among US-based E&Ps operating in Canada, COP is operating 2 rigs, down from 3 rigs, while OVV continues operating 3 rigs

United States Baker Hughes Rig Count (as of 10/18/24)

• Current week total rig activity was at 585, down from 586 rigs the previous week

• Rig adds were in the Anadarko (+1)

• Rig reductions were in the Haynesville (-1) and Other, Texas (-1)

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

• Rig activity for the week of 10/6/24 by Companies Mentioned totaled 273, down from 274 the previous week.

• Rig count leaders by E&P, and aggregated by proposed merger include XOM (36), COP/MRO (28), EOG (24), OXY (23), DVN (23), CVX (22) and FANG (21)

• No rig adds this week

• Rig reductions were XOM (-1)

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

• Frac spread activity for the week of 10/18/24 was 238, down 3 frac spreads from the previous week (241).

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)

• 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.}