Crescent Point leads as Canada’s rig fleet heads back to work after Christmas break

Image: Joey Podlubny/JWN

Over 130 drilling rigs have gone back to work in the Western Canadian Sedimentary Basin during the past week.

There were 283 active rigs Thursday afternoon in Western Canada (341 down), a big increase from only 151 at the close of last week.

This week's rig count corresponds to 45 per cent of the fleet being active, up from 24 per cent last week, according to Rig Locator.

For the same week a year ago, activity levels were at 41 per cent (274 rigs active; 391 rigs down).

Crescent Point Energy Corp. had 26 rigs at work Thursday afternoon — twice the number employed by Encana Corporation.

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).