US Rig Count Rises to 573 as Permian Basin Reaches 258 Rigs; Canada Adds 11 to Reach 197

Baker Hughes released its weekly North American rig count on Friday, June 26, reporting the US total climbed 10 units to 573 active rigs. Canada added 11 rigs to reach 197. The Permian Basin led all US plays, adding two rigs to reach 258, a count that now represents 45.0 percent of all active US drilling.

Basin-by-Basin: Permian Leads, Haynesville Second, Cana Woodford Slips

The Permian Basin holds the dominant share of US activity at 258 rigs, far ahead of the Haynesville Shale at 55 and Eagle Ford at 44. Granite Wash rigs increased by one to reach 19, while the Cana Woodford shed one rig, also falling to 19. Across the remaining tracked basins, the Williston (28), Marcellus (24), Utica (12), and DJ-Niobrara (9) all held flat.

Among the 573 total US rigs, approximately 441 are oil-directed (77 percent) and 126 are gas-directed (22 percent), with the remainder targeting miscellaneous formations. That 77-to-22 split reflects continued operator preference for oil-weighted drilling at current WTI prices. Canada's 197 rigs encompass a mix of oil sands drilling, in-situ thermal production, and conventional crude operations across Alberta and British Columbia.

Permian Rig Count Connects to Blackcomb Pipeline Supply Equation

Every Permian rig drilled for crude oil also generates associated natural gas that needs a market outlet. The two new Permian rigs added this week push incremental gas volumes into an already-constrained pipeline system. Oil Authority covered the Blackcomb Pipeline's progress toward a 2.5 Bcf/d Permian-to-Gulf Coast corridor, targeting a Q3 2026 startup date: Blackcomb Pipeline Targets Q3 2026 Launch as Gas Constraints Cap Permian Crude. Once operational, Blackcomb would provide primary relief for the associated gas backlog tied to Permian crude drilling at current rig counts.

$69 WTI Sets the Economic Backdrop for Rig Decisions

WTI crude settled at $69.23 per barrel on June 26, the lowest close since February 27. For Permian Basin operators with top-tier acreage, that price still supports active drilling: the basin's best wells carry some of the lowest break-even costs in North America. Canadian producers face a sharper margin test: Western Canadian Select traded at approximately $16.30 per barrel below WTI for June delivery, according to BOE Report data from May 2026.

At Friday's $69.23 WTI close, that differential implies a WCS price near $52.93 per barrel. Canadian oil sands operators face tightened margins at that level, with operating and sustaining capital costs consuming a larger share of realized revenues than at higher WTI prices. Despite that pressure, Canada's 11-rig weekly addition signals that operators with lower-cost projects are proceeding with near-term drilling programs.

One-Month Trend: US Count Up 30 From May

The June 26 US count of 573 compares to approximately 543 rigs tracked in May 2026, a gain of 30 rigs or 5.5 percent over roughly one month. That expansion pace reflects both the ongoing Permian build-out and incremental activity in gas-directed plays as domestic demand and LNG export commitments grow. Whether the upward trend continues through July depends largely on whether WTI stabilizes near $69 or extends Friday's decline toward lower levels.