Some interesting (and basic) charts for Permian-focused operators. Just nuts these guys want to keep producing.
Some interesting (and basic) charts for Permian-focused operators. Just nuts these guys want to keep producing.
US land down 11. Canada down 4. So total land rigs in north america is 272.
US offshore plus Gulf Of Mexico down 4.
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US land down 1, Canada down 4 for 267 land rigs in North America.
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13 in all of Canada. That seems just absolutely unbelievable. Shit, I remember living in SE Alberta in the late-60s/early-70s and there'd be dozens drilling. Times certainly have changed.
That's partly seasonal. Bit honestly, Canada can produce all the oil and gas it needs including exports with fewer than 200 rigs. Use can do it with fewer than 500. We don't need a thousand rigs in North America anymore.
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Small drop in USA (down 3 land rigs), small increase in Canada (up 5 rigs) for a total of 269 land rigs in both countries.
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That’s interesting.This quote is hidden because you are ignoring this member. Show Quote
I wonder if the dollar and WCS is pushing the price
"The most merciful thing in the world, I think, is the inability of the human mind to correlate all its contents... some day the piecing together of dissociated knowledge will open up such terrifying vistas of reality, and of our frightful position therein, that we shall either go mad from the revelation or flee from the light into the peace and safety of a new Dark Age."
-H.P. Lovecraft
This weeks count. USA down 5, Canada up 8. y'all know I care more about USA than Canada anyway. Texas down 5. Nooo, not my beloved Texas work!
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I guess I skipped a few weeks in this thread, but Texas adding rigs y'all
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Canadian Rig fleet shrinking still.
https://www.carlyleobserver.com/news...s-7-1.24204126
Sad picture, even if a smaller rig fleet makes a lot of sense.
Riggertalk shows a fleet size of 505 these days. My original post mentions a fleet size of 654 land based drilling rigs in Canada.
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No more double meat subs. But you can currently BOGO footlongs on the Subway app.
I can eat more hot wings than you.
Regarding scrapping rigs, I listened to a really interesting podcast (DRW HTOTD) where the CEO of Brigade Energy Services was the guest. They are a consolidator in the service rig space, and they scrap a lot of the rigs they acquire. He had a pretty compelling argument for the value of scrapping the lower performance rigs, even if they might be worth some value at the surplus auctions.
Anyway, here's the rig counts:
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If the small rigs ever get cheap enough I want to buy a super single and just trip pipe with my buddies all day.
DOES ANYONE NEED A GO-JUICE?
Canada at 102 rigs. USA at 306. Seems like plenty.
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What's your prediction for peak rigs this winter?This quote is hidden because you are ignoring this member. Show Quote
Canadian rig count? I don't know really, I haven't been watching the Canadian market that closely. what was it last year, 230? I can't see any reason for even that many, but people don't ask me before firing up a rig. Then again, if ya drilling for only a couple months per year, may as well do it in January I guess?
Okay, my guess is 210 peak.
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I like where your head is at...This quote is hidden because you are ignoring this member. Show Quote
Internal company bet on peak rigs in Canada.
Most people are at ~ 150ish.
I'm the only one who said 200+
I mean, January is usually quite a bit higher than December, and December should be higher than November, so that's my line of thinking. Although in terms of supply and demand, I actually think (hope?) that rig counts do go up much from here for a year.
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Americans getting all uppity again. Silly .
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