North American drilling activity shifts as U.S. rigs ease and Canada increases

Recent data from Baker Hughes indicates a divergence in drilling activity between North American neighbors. The total number of active oil and gas drilling rigs in the United States decreased slightly to 598, down one from the previous week. Despite this minor dip, the U.S. rig count remains 49 higher than the same period last year.

Within the U.S. sector, active oil rigs rose by one to 456, while gas rigs fell by two to 133. In the Permian Basin, the rig count held steady at 270. Meanwhile, drilling activity in Canada saw an increase during the same period.

U.S. crude oil production showed a slight uptick, averaging 13.955 million barrels per day for the week ending September 25, an increase from the previous week and 450,000 barrels per day higher than a year ago.