US land rig count up an average of 28% over previous quarter

Following five weeks of double-digit gains, the US land rig count rose by only three this week, from 730 to 733, according to the weekly Baker Hughes rig count. Overall, the US land rig count is up 28% quarter-to-quarter. Many of the rigs going back to work have been sent to the Permian, where 52% of all oil rigs are drilling at this time.

In Canada, the rig count increased by nine, from 330 to 339. The Canadian rig count has risen 97% from this time last year. The overall North American land rig count reached 1,072 this week, up 12 from the previous week.