Active Rig Count - October 28

[dan_s]

The North American active rig count inched higher last week, primarily in Canada.

United States:
> Rigs drilling for oil declined by 2 to 441, compared to 578 a year ago and 1,609 at the peak in October, 2014.
> Rigs drilling for gas increased by 6 to 114, compared to 197 a year ago and over 300 at the peak

Canada:
> Rigs drilling for oil increased by 4 to 73, compared to 84 a year ago
> Rigs drilling for gas increased by 5 to 79, compared to 107 a year ago

EIA's Drilling Productivity Report forecasts that production in the seven largest producing regions of the United States will continue to fall in November.
> Oil expected to fall 30,000 Bbls per day
> Natural gas expected to fall 178,000 mcf per day