The Baker Hughes North American rig count is down 15 rigs in the October 27 week to 1,100. The U.S. rig count is down 4 rigs at 909 but is up 352 rigs from last year at this time. The Canadian count is down 11 rigs from last week to 191 but compared to last year is up 38 rigs.
For the U.S. count, rigs classified as drilling for oil are up 1 at 737 while gas rigs are down 5 rigs to 172. For the Canadian count, oil rigs are down 11 at 96, gas rigs are down 1 rig at 94 and miscellaneous rigs are up 1 to 1.
Another large decline in the count is the fourth in a row, mostly caused by seasonality as cold weather begins to curtail operations in northern regions and partly probably by lingering hurricane-related problems.