Rig activity steadily declined this week in western Canada as operators laid down rigs ahead of the holiday season.
There were 168 active rigs on Thursday afternoon, with 455 down, out of a total of 623. The active rate was 27 per cent, according to Rig Locator.
At the close of last week, 255 rigs were active, 368 down, for an active rate of 41 per cent. During the same week a year ago, 37 per cent of the fleet was at work (248 rigs active, 399 rigs down).
Cenovus Energy Inc. and Seven Generations Energy Ltd. were the two most active operators on Thursday afternoon with 10 active rigs each.
Active rigs on Rig Locator are defined as rigs that are drilling, rigging up or moving. (Note: This data differs from the rig counts tracked by the Canadian Association of Oilwell Drilling Contractors, which bases its utilization rates on whether rigs are drilling, which it defines as spud to rig release, or down).