Rig Release Counts Down Six Per Cent At 11-Month Mark
Operators drilled 5,300 wells to the end of November, down six per cent from 5,652 wells rig released in the January-to-November interval a year ago.
Operators drilled 5,300 wells to the end of November, down six per cent from 5,652 wells rig released in the January-to-November interval a year ago.
Global oil demand continues rising, but how it’s being used is shifting as downstream operators layer in new materials and petrochemical products onto their traditional fuel production, the International Energy Agency (IEA) said in its 2025 Energy Outlook.
Drilling rig activity in Western Canada and the Top 10 active operators as of Dec. 19, 2025, as reported this morning by Rig Locator.
The U.S. rig count is down six from last week to 542 with oil rigs down eight to 406, gas rigs unchanged at 127 and miscellaneous rigs up two to nine.
Tenaz Energy Corp. outlined a 2026 capital spending plan of $250 to $275 million.
Energy Transfer LP announced an increase in the transportation capacity of Transwestern Pipeline’s planned Desert Southwest expansion project to meet additional customer demand.