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- Canada and United States Rig Activity, as of 5/23/25
Canada and United States Rig Activity, as of 5/23/25
E&P | Canada & United States | Rig Activity
Patrick Enwright
May 26, 2025
New to the newsletter? Check out the archive (here) to review prior rig count and research notes.
The key to a $1.3T opportunity
A new real estate trend called co-ownership is revolutionizing a $1.3T market. Leading it? Pacaso. Led by former Zillow execs, they already have $110M+ in gross profits with 41% growth last year. They even reserved the Nasdaq ticker PCSO. But the real opportunity’s now. Until 5/29, you can invest for just $2.80/share.
This is a paid advertisement for Pacaso’s Regulation A offering. Please read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals. Under Regulation A+, a company has the ability to change its share price by up to 20%, without requalifying the offering with the SEC.
Baker Hughes Rig Count, as of 5/23/25
Weekly Metrics | Canada | United States |
|---|---|---|
Rig Count, Current Week | 112 | 513 |
Rig Count, Last Week | 119 | 523 |
Rig Adds | NE AB (+1) | Appalachia (+1) |
Rig Reductions | NE BC (-1), NW AB (-1), Foothills (-6) | Anadarko (-1), Bakken (-2), Permian-Midland (-1), Permian-NM (-2), Eagle Ford (-4) |
Rig Count by Canadian-based E&P (as categorized by OilGasPages.com)
Weekly Metrics | Canadian E&Ps Covered, as of 5/23/25 |
|---|---|
Rig Count, Current Week | 67 |
Rig Count, Last Week | 72 |
Rig Count Leaders | CNQ (12), CVE (9), ARX (7), WCP (7), TOU (4), SCR (4) |
Rig Adds, by E&P | CVE (+1) |
Rig Reductions, by E&P | CNQ (-1), TOU (-1), SCR (-1), NVA (-1), VET (-1), MUR (-1) |
Rig Count by United States-based E&P (as categorized by OilGasLeads.com)
Weekly Metrics | USA E&Ps Covered, as of 5/23/25 |
|---|---|
Rig Count, Current Week | 282 |
Rig Count, Last Week | 285 |
Rig Count Leaders | XOM (36), OXY (28), COP (27), EOG (23), FANG (21) |
Rig Adds, by E&P | DVN (+1), CIVI (+1) |
Rig Reductions, by E&P | OXY (-2), COP (-1), EOG (-1), CRK (-1) |
United States Frac Spreads (as tabulated by The American Oil & Gas Reporter)
Frac spread activity for the week of 5/23/25 was 186, down from the previous week (193).
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)
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)
Strathcona Resources Ltd. (SCR)
MEG Energy Corp. (MEG)
Advantage Energy Ltd. (AAV)
Imperial Oil Resources (IMO)
Athabasca Oil Corporation (ATH)
Matador Resources Company (MTDR)
Expand Energy (EXE)
Antero Resources Corporation (AR)
Magnolia Oil & Gas Corporation (MGY)
Comstock Resources, Inc. (CRK)
Exxon Mobil Corporation (XOM)
EOG Resources, Inc. (EOG)
SM Energy Company (SM)
Chevron Corporation (CVX)
Diamondback Energy, Inc. (FANG)
Coterra Energy Inc. (CTRA)
Crescent Energy Company (CRGY)
Ovintiv Canada Ulc (OVV)
Devon Energy Corporation (DVN)
Civitas Resources Inc. (CIVI)
Murphy Oil Corp (MUR)
Permian Resources Corporation (PR)
APA Corporation (APA)
ConocoPhillips Canada Resources Corp. (COP)
Occidental Petroleum Corporation (OXY)
Chord Energy Corporation (CHRD)
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.
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