Drilling Rigs Activity Report – February 27, 2015

CALGARY, Alberta (February 27, 2015) – RigER presents weekly Drilling Rigs Activity Report.
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Today riglocator.ca reports 291 active drilling rigs in Western Canada (37% declining since Jan 9, 2015 – 465).

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Baker Hughes reports 47% declining of Canadian Drilling Activity.

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RigER has issued weekly Canadian Drilling Rigs Activity Reports as an information service to the oilfield rental industry since 2015.

 

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The Drilling Rigs Activity Reports are an important business barometer for the drilling industry and its suppliers. When drilling rigs are active, they consume products and services produced by the oil service industry. The active rig count acts as a leading indicator of demand for products used in drilling, completing, producing and processing hydrocarbons.

Industries usually measure economic impact by approximating a dollar value to represent their purchasing power. The oil and gas industry measures economic impact by counting active rigs. A drilling rig requires many oilfield support services to drill a well. And after the well is complete, other oilfield services go to work to bring the well into production and to maintain it. Rig utilization is the percentage of active rigs. In Canada, rig utilization has a distinct annual cycle.

 

 

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