Canada lost 5 rigs for the week ended Oct. 16, ending at 217 units working, according to Baker Hughes (the industry-standard weekly rig census). The entire decline came from gas-directed drilling, which fell to 65 rigs. The oil-directed count held at 150.

The takeaway: Canada's weekly decline is entirely a natural gas story, with crude-directed activity flat.

What happened to the US rig count?

The US rig count stayed at 603 rigs for the week. That figure is up 55 units from the year-ago period.

The composition shifted slightly:

• Oil-directed rigs fell 3 units to 459, up 41 from a year ago
• Gas-directed rigs rose 1 to 133, versus 121 at this point last year
• Land rigs fell 1 to 589, up 61 year over year
• Offshore rigs rose 1 to 13
• Inland waters rigs held at 1

The takeaway: US totals masked small offsetting moves, with oil down, gas up, and offshore posting the only offshore-side gain.

Which states added and lost rigs?

Utah led all major producing states with a 5-unit gain, closing the week at 20 rigs. The state's count is up 7 units from this point in 2025.

Louisiana added 2 rigs to reach 40.

Losses concentrated in the largest basins:

• Texas dropped 3 rigs to 278, still up 41 units year over year
• New Mexico dropped 3 to 96
• Oklahoma fell 1 to 50
• Wyoming fell 1 to 16
• California fell 1 to 5

The takeaway: the Permian's two anchor states, Texas and New Mexico, shed rigs together, while smaller plays absorbed them.

What is the watch item?

The year-over-year comparison remains the strongest signal: 55 more US rigs than last October and a 61-unit land gain point to steady supply-side growth despite weekly noise, and the next Baker Hughes release will show whether the Texas and New Mexico declines extend into a second week.