50% of the Canadian Rig fleet active! January 2017 - Fuck Yeah

[ExtraSlow]

Drilling rig fleet continues to shrink. Under 400 total now in Canada.


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Max for the winter was 248 active on Jan 22 reporting.

[schurchill39]

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Drilling rig fleet continues to shrink. Under 400 total now in Canada.

How much of this do you think relates to the fact that a huge portion of new wells are drilled on pads so a single rig can now knock off many more wells on one location? I Know we've invested in umbilical lines, walking rigs etc so we can keep the amount of rigs we run down.

[killramos]

Considering time turning is so much bigger than mob/demon I would say pad drilling has minimal impact on rig counts themselves.

Its more that no one is drilling the kind of shallow stuff a large number of smaller rigs were capable of so those have been retired and/or canabalized after not turning for years.

Lots of capital discipline these days meaning companies would rather fully contract and spread a single rig out all year for a locked in price than blow their brains out windowing 2 or 3 cold crews at a time then releasing them.

[SJW]

They are drilling wells faster now thanks to new tech.