Weekly Rig Activity as of 3/29/24

Weekly Rig Activity as of 3/29/24

Baker Hughes Rig Count

• Current week total rig activity was at 151, down from 169 rigs the previous week (-18 rigs)

• Rig adds were in two regions, NE BC (+1) and NW AB (+1)

• Rig reductions were in the Foothills (-4), Central AB (-4), East-Central AB (-3), NE AB (-2), SE AB (-1), SW SK (-4), and East SK (-1)

Rig Count by E&P

• Rig activity for the week of 3/29/24 by Companies Mentioned totals 76 rigs, up from 74 rigs from the prior week

• Rig count leaders by E&P include CNQ (11), TOU (10), CVE (8), ARX (7), WCP (6), POU (5), CPG (4), PEY (4)

• Rig adds were CNQ (+1 rig), CVE (+1 rig), ARX (+1 rig), WCP (+1 rig), VET (+1 rig), SU (+1 rig), NVA (+1 rig)

• Rig reductions were TVE (-1), MEG (-1 rig), IMO (-2 rigs)

• Among US-based E&Ps operating in Canada, COP operated 4 rigs, up one, while OVV reduced its rig count to 1, from 3 last week. MUR remained steady at 2 rigs.

Companies Mentioned

_{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.}