CDN NEWS | 
US NEWS 
Canadian drilling activity rebounded sharply this week as producers returned 11 oil rigs to the field, reversing last week’s steep decline.
Canada’s active rig count increased by 11 to 208 rigs for the week ended September 25, according to the latest Baker Hughes North America Rig Count Report.
The rebound leaves Canada with 18 more rigs than the 190 operating during the comparable week last year, an increase of nearly 10%.
Oil drilling accounted for the entire increase.
Canada’s oil rig count jumped by 11 to 145, while natural gas rigs were unchanged at 62. Miscellaneous rigs also held steady at one.
Compared with a year ago, Canada has 16 more oil rigs and two more natural gas rigs operating.
The increase follows last week’s 10-rig decline and puts the Canadian fleet almost back where it stood two weeks ago.
That volatility is important context.
Canada had 207 rigs operating on September 11 before dropping to 197 last week and rebounding to 208 today. Rather than signalling a sustained contraction, the recent numbers increasingly look like significant week-to-week movement within an industry that remains more active than it was last year.
The commodity backdrop remains supportive for oil producers.
WTI crude was trading around US$93 per barrel Friday, while Brent was near US$105–106. U.S. natural gas futures were around US$3.20 per MMBtu.
Crude prices remain elevated as Middle East supply risks continue to influence global markets, although recovering Saudi exports and efforts to restore disrupted infrastructure have helped ease some of the pressure seen earlier this month.
For Canadian producers, oil in the US$90s continues to provide a relatively strong economic backdrop for drilling programs across Western Canada.
The natural gas side is also becoming more interesting.
Canada’s gas fleet was unchanged this week at 62 rigs, but remains slightly above the 60 operating a year ago. At the same time, U.S. benchmark gas has climbed back above US$3 after trading below that threshold earlier in September.
Western Canadian producers are also operating in a market increasingly influenced by LNG exports, giving the industry another source of structural gas demand beyond traditional North American consumption.
The biggest takeaway this week, however, is the reversal in oil drilling.
Last week’s 10-rig decline had reduced Canada’s year-over-year advantage to just eight rigs. One week later, that advantage has widened again to 18.
Canada still has fewer rigs operating than the 216 recorded on August 21, but the latest Baker Hughes data make the late-summer trend look considerably less like a straight-line decline.
The Canadian fleet is back above 200, oil drilling has rebounded and total activity remains nearly 10% higher than a year ago.
For Canada’s drilling and oilfield services sector, that is a much stronger picture than last week’s headline suggested.
Source: Baker Hughes North America Rig Count Report, September 25, 2026.
Share This:
COMMENTARY: Newfoundland Government Should Use Hydroelectric Deal to Help Repair its Finances