5 key insights about Western Canada’s most active drillers

Crescent Point Energy Corp. and Tourmaline Oil Corp. lead the pack this week as the most active operators in Western Canada, according to Rig Locator.

Click here for a free Excel download of the Top Active Operators in Canada, based on Monday’s data.

Here are five key insight on drilling activity this week across the Western Canadian Sedimentary Basin:

  1. There were 91 rigs at work on Monday in Western Canada, with 414 down, for an active rate of 18 per cent. That’s up about 10 rigs in the last three weeks, as operators continue to put more rigs back to work. (By mid-week, the active rate had slipped slightly to 17 per cent.)
  2. This week’s average active rate is down significantly from the same week a year ago, when 148 rigs were active, with 401 down, for an active rate of 27 per cent.
  3. In Alberta, Tourmaline and Seven Generations Energy Ltd. are the top operators this week, with five active rigs apiece. Peyto Exploration & Development Corp. has four rigs at work.
  4. Tourmaline is also one of the most active operators in B.C. The natgas-focused producer has four rigs drilling hole in the province, one less than top operator Ovintiv Canada ULC.
  5. Crescent Point is by far the dominant driller in Saskatchewan, with nine rigs at work. This accounts for more than half of the total fleet that’s currently working in the province (16 rigs as of Wednesday afternoon).

Click here for a free Excel download of Top Active Operators in Canada.

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