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View Full Version : Citadel moving all its drilling rigs to the US


89coupe
10-30-2019, 06:53 AM
Eeesh

https://www.cbc.ca/news/business/citadel-drilling-caodc-oilpatch-1.5339892
ExtraSlow
10-30-2019, 07:14 AM
The rest are attempting it. I did consulting for a rig contractor about Citadel's size and they are 50% USA now, from 0% USA six years ago.

Rig rates in the US are ~40% higher than Canada Before the currency conversion, so roughly double in the end.
killramos
10-30-2019, 07:23 AM
Never heard of them. 6 rigs?

My buddies dad runs a drilling company and he made the US argument sound pretty chicken and eggy. They have a number racked in GP right now, but with a million bucks a move he would want some sort of commitment before taking the plunge but no one in the states wants to sign a commitment for a rig that isn’t in country.

Expensive conundrum.
Perfect Dark
10-30-2019, 12:50 PM
Never heard of them. 6 rigs?

My buddies dad runs a drilling company and he made the US argument sound pretty chicken and eggy. They have a number racked in GP right now, but with a million bucks a move he would want some sort of commitment before taking the plunge but no one in the states wants to sign a commitment for a rig that isn’t in country.

Expensive conundrum.

Ex-Nabors/Savanna people at the top. Good rigs and crews, were pretty popular up here before they moved. They're doing really well in the US.