Canada and United States Rig Activity as of 11/22/24

Recent Notes

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

• I Want You To Montney: OVV Returns to Alberta In Positive A&D Move (link)

• US E&P 3Q24 Recap (link)

Baker Hughes Rig Count

• Current week total rig activity was at 199, up from 198 rigs the previous week

• Rig adds were in NE BC (+1), NW AB (+1), Foothills (+2) and Central SK (+3)

• Rig reductions were in East Central AB (-2) and NE AB (-4)

Rig Count by E&P

• Rig activity for the week of 11/22/24 by Canadian Companies Mentioned totaled 100, up from 99 rigs from the prior week

• Rig count leaders by E&P include TOU (16), CVE (16), CNQ (11), WCP (10) and VRN (7)

• Rig adds were CVE (+2), WCP (+2), TVE (+1) and CNQ (+1)

• Rig reductions were VRN (-1)

• Among US-based E&Ps operating in Canada, COP stayed at 3 rigs and OVV is up 1 rig to operate 3 rigs

United States Baker Hughes Rig Count (as of 11/22/24)

• Current week total rig activity was at 584, down from 585 rigs the previous week

• Rig adds were in the Marcellus (+1) and Other - Oklahoma (+1)

• Rig reductions were in the Anadarko (-1) and Other - Utah (-1)

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

• Rig activity for the week of 11/17/24 by Companies Mentioned totaled 281, static from 281 the previous week.

• Rig count leaders by E&P, and aggregated by proposed merger include XOM (36), OXY (29), COP (28), DVN (24) and EOG (23)

• No rig adds and no rig reductions this week

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

• Frac spread activity for the week of 11/22/24 was 221, down 1 frac spread from the previous week (222).

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.}