US Rig Count Drops by 2
The US rig count has decreased by 2, bringing the total to 586. Over the past year, 56 rigs have been taken offline. This reduction reflects ongoing caution among US operators, likely due to fluctuating oil prices and economic uncertainty. Companies in the upstream sector should consider adjusting their strategies to maintain efficiency in this shifting landscape.
Canadian Rig Count Holds Steady
In Canada, the rig count remains unchanged at 217. However, there has been a significant increase of 28 rigs compared to the same time last year. This stability and growth indicate steady confidence in Canada’s resource potential. Companies operating in the region should continue to leverage local expertise and technology to take advantage of these favorable conditions.
International Rig Count Steady but Down Year-Over-Year
The international rig count stands at 934, with no change this week. However, it has decreased by 23 rigs over the past month and by 27 over the past year. This decline may be due to geopolitical factors or changes in energy policies. Companies with international operations need to stay flexible and adapt to these evolving conditions.
Industry Impact
The stable rig counts in Canada and internationally contrast with the decline in the US, painting a mixed picture for the global oil and gas industry. Some regions are showing growth, while others face challenges that could impact production and investment.
Aries One Drilling Consultants
Aries One’s clients—from small operators to major oil companies—need to stay informed and agile. Our services, including Consulting, Project Management, Staffing, Technology, and Training, are designed to help you navigate these changes and optimize your operations.
For more information on how Aries One can support your business, visit www.aries-one.com.
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