Canadian Energy Services Newsletter - Week of July 20, 2026

North American
Drilling Rig Activity
For the Week Ending Change
Week-Over-Week
Previous
Year
Change
Year-Over-Year
17-Jul-26 10-Jul-26 17-Jul-25
Canada
Active Rig Count 219 214 2.3% 170 28.8%
Rig Fleet Size 334 334 - 372 (38)
Utilization Rate 66% 64% 1.5% 46% 19.9%
USA
Active Rig Count 588 581 1.2% 537 9.5%
US Crude and
Natural Gas
For the Week Ending Change
Week-Over-Week
Previous
Year
Change
Year-Over-Year
10-Jul-26 3-Jul-26 10-Jul-25
Crude
Production (kbpd) 13,861 13,860 0.0% 13,385 3.6%
Storage Level (kbbl) 409,665 411,350 (0.4%) 426,021 (3.8%)
Injection/(Withdrawal) (kbbl) (1,685) 2,991
Natural Gas
Storage Level (Bcf) 3,024 2,983 1.4% 3,006 0.6%
Injection/(Withdrawal) (Bcf) 41 61 (32.8%) 53 (22.6%)
Commodity Prices Current
Week
Previous
Week
Change
Week-Over-Week
Previous
Year
Change
Year-Over-Year
17-Jul-26 10-Jul-26 18-Jul-25
Crude Oil ($US/bbl)
WTI 82.52 71.51 15.4% 67.30 22.6%
Brent 88.26 75.22 17.3% 69.23 27.5%
WCS 70.14 59.06 18.8% 53.70 30.6%
Discount to WTI ($) 12.38 12.45 (0.6%) 13.60 (9.0%)
Discount to WTI (%) 15.0% 17.4% (2.4%) 20.2% (5.2%)
Natural Gas
Nymex ($US/MMBtu) 2.92 2.95 (1.0%) 3.57 (18.2%)
Aeco ($C/MMBtu) 1.09 1.05 3.8% 0.45 142.2%