JWN has published their weekly rig count, and as of Friday, they had 325 active and 325 down. Note that they count slightly differently than the CAODC, so their number is always a bit higher. Once CAODC publishes on Monday I will update. Last week CAODC was 252/654 for 39%. I think they'll be 290-ish this week.
The fleet has scrapped a huge number of rigs. I can recall when the fleet was over 800, so 200+ rigs have been cut up. That's probably a good thing. I spent a year working with some of the worst rigs PD had to offer back in the boom times, and they truly aren't competitive.
Wages haven't risen anywhere as far as I know, but certain positions are getting quite high demand, and if you have your class 1 and a clean abstract, you should be able to go to work right away many places.
Hiring has picked up in Calgary head offices too, although interestingly, it appears Production is where the bulk of the postings have been. Very few in the D&C or Geoscience worlds. I think I've seen more engineering jobs posted in the last 6 weeks than in the previous 12 months!
Not quite double meat subs for everyone yet, but I truly feel like we are making good progress here. Remains to be seen how the next two months of OPEC data, Trump presidency, European uncertainty and other geopolitical factors translate into commodity prices and business outlook.
Make fun of me in the 2017 Tow Rig thread!
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