Canadian drilling rigs staying busy

Source: JWN

Fifty-six per cent of the Canadian drilling fleet was active Thursday afternoon, compared to 28 per cent a year ago, according to Rig Locator.

Overall, operators had 356 rigs at work across Western Canada, about even with the 354 rigs working at the close of last week.

But Thursday’s active rig count is up significantly from the same week a year ago, when an average of 212 rigs were active.

Crescent Point Energy Corp. was the busiest operator on Thursday afternoon. With 27 active rigs, Crescent Point had more than twice the number of rigs at work than Encana Corporation, with 13 active rigs.

Active rigs on the Rig Locator website 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.)