Drilling Rigs Activity Report – March 27, 2015

CALGARY, Alberta (March 27, 2015) – RigER presents Canadian Weekly Drilling Rigs Activity Report.

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Canadian Rig Count is down 23 rigs from last week. Total Drilling Rigs Utilization is 15%. Breakdown by Province: Alberta – 13%, SK – 5%, BC – 48%, MB – 0%


TOP-5 Drilling Rig Operators have 45% of drilling activity: Progress Energy Canada Ltd. – 18, Seven Generations Energy – 9, Royal Dutch Shell plc – 9, Encana Corporation – 8, Peyto Exploration & Development Corp. – 7

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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.

 

More about drilling this week:

Financial Post:

Alberta’s oil drillers brace for traditional spring slowdown to stretch until next fall — or longer

Oilpatch recovery a long way out, Conference Board report says

Calgary Herald:

Conference Board of Canada predicts slow return from low oil prices

 

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