Canadian Energy Services Newsletter - Week of July 27, 2026

North American
Drilling Rig Activity
For the Week Ending Change
Week-Over-Week
Previous
Year
Change
Year-Over-Year
24-Jul-26 17-Jul-26 24-Jul-25
Canada
Active Rig Count 227 219 3.7% 179 26.8%
Rig Fleet Size 334 334 - 371 (37)
Utilization Rate 68% 66% 2.4% 48% 19.7%
USA
Active Rig Count 587 588 (0.2%) 544 7.9%
US Crude and
Natural Gas
For the Week Ending Change
Week-Over-Week
Previous
Year
Change
Year-Over-Year
17-Jul-26 10-Jul-26 17-Jul-25
Crude
Production (kbpd) 13,798 13,861 (0.5%) 13,375 3.2%
Storage Level (kbbl) 411,675 409,665 0.5% 422,162 (2.5%)
Injection/(Withdrawal) (kbbl) 2,010 (1,685)
Natural Gas
Storage Level (Bcf) 3,056 3,024 1.1% 3,052 0.1%
Injection/(Withdrawal) (Bcf) 32 41 (22.0%) 46 (30.4%)
Commodity Prices Current
Week
Previous
Week
Change
Week-Over-Week
Previous
Year
Change
Year-Over-Year
24-Jul-26 17-Jul-26 25-Jul-25
Crude Oil ($US/bbl)
WTI 90.44 82.52 9.6% 65.06 39.0%
Brent 98.70 88.26 11.8% 68.39 44.3%
WCS 76.96 70.14 9.7% 52.81 45.7%
Discount to WTI ($) 13.48 12.38 8.9% 12.25 10.0%
Discount to WTI (%) 14.9% 15.0% (0.1%) 18.8% (3.9%)
Natural Gas
Nymex ($US/MMBtu) 2.88 2.92 (1.4%) 3.10 (7.1%)
Aeco ($C/MMBtu) 1.13 1.09 3.7% 0.48 135.4%