Drilling rig activity in Western Canada and the Top 10 active operators as of March 27, 2020, as reported this morning by Rig Locator.
March 27, 2020, 11:26 AM MDT
Western Canadian rig activity started the year strong, but heading into spring breakup it has cratered and a quick recovery is unlikely as the Saudi/Russian oil price war, lower demand as a result of the COVID-19 outbreak, and the concomitant reductions in producer capital budgets should keep activity muted in Q2 and Q3.
March 27, 2020, 8:40 AM MDT
In response to the current global environment and lower anticipated customer demand, Horizon North Logistics Inc. is taking a series of steps to mitigate negative impacts, including reducing its sustaining capital spending by 38 per cent to $13 million, which includes a pause on mat manufacturing.
March 27, 2020, 7 AM MDT
Drilling rig activity in Western Canada and the Top 10 active operators as of March 26, 2020, as reported this morning by Rig Locator.
March 26, 2020, 11:42 AM MDT
Operators drilled close to four million metres of hole across Canada (excluding experimental wells) in the first two months of 2020, up nearly 25 per cent from a year ago, before the effects of the coronavirus and the OPEC/Russia price war started to influence drilling plans.
March 26, 2020, 9:33 AM MDT