U.S. rig count is down eight rigs from last week to 805, with oil rigs down eight to 677, gas rigs unchanged at 125, and miscellaneous rigs unchanged at three, according to Baker Hughes.
U.S. rig count is down 278 rigs from last year's count of 1,083, with oil rigs down 208, gas rigs down 73, and miscellaneous rigs up three to three.
The U.S. offshore rig count is down one to 23 and down one year-over-year.
Canada rig count is down 50 rigs from last week to 99, with oil rigs down 36 to 52 and gas rigs down 14 to 47.
Canada rig count is up 29 rigs from last year's count of 70, with oil rigs up 37 and gas rigs down eight.
The Lundin Petroleum board also proposed to change the company's name to Lundin Energy AB, it said in a statement.
The increase in oil and gas bankruptcies seems likely to continue, said Buddy Clark, partner at Haynes and Boone.
Shares of Encana will be suspended from trading on the New York and Toronto stock exchanges on Jan. 27 at which time the company will begin trading as Ovintiv under the “OVV” symbol.