Canada & United States Weekly Rig Count as of 6/21/24

Canada Weekly Rig Count as of 6/21/24

Interested in prior rig count and research notes? Check out the archive (here).

Baker Hughes Rig Count

• Current week total rig activity was at 163, up from 157 rigs the previous week (+6 rigs)

• Rig adds were in NE AB (+6), Foothills (+3), Central SK (+2), Central AB (+2), NE BC (+1), NW AB (+1)

• Rig reductions were in SW SK (-7), SE SK (-1), East Central (-1)

Rig Count by E&P

• Rig activity for the week of 6/21/24 by Canadian Companies Mentioned totaled 64, up from 63 rigs from the prior week

• Rig count leaders by E&P include CNQ (13), CPG (6), CVE (5), ARX (5), WCP (5), POU (5), PEY (4), TOU (3)

• Rig adds were CNQ (+1), CPG (+1), SU (+1), BTE (+1)

• Rig reductions were ARX (-1), CVE (-1), WCP (-1), TOU (-3)

• Among US-based E&Ps operating in Canada, COP’s rig count remains at 1, and OVV remained steady at 3 rigs

United States Baker Hughes Rig Count (as of 6/21/24)

• Current week total rig activity was at 588, down from 590 rigs the previous week

• Rig adds were in the Bakken (+1), Haynesville (+1)

• Rig reductions were in the Permian (-1), Eagle Ford (-1) and the Other region (-2)

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

• Rig activity for the week of 6/9/24 by Companies Mentioned totaled 310, down from 314 the previous week.

• Rig count leaders by E&P, and aggregated by proposed merger include COP/MRO (41), XOM/PXD (38), OXY/Crownrock (31), EOG (28), CVX (23), FANG/Endeavor (21), DVN (20)

• No rig adds identified this week.

• Rig reductions were FANG/Endeavor (-2), DVN (-1), MTDR (-1)

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)

• Crescent Point Energy Corp. (CPG)

• 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.}