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

[ExtraSlow]

JWN count Thursday last week was 92, although they note it dipped to 87 midweek.
CAODC count for May 8th is 80.

[SKR]

My own rig count is going to be 1 starting tomorrow, hopefully 2 by the end of the week.

[ExtraSlow]

JWN count today is 87 rigs.

[ExtraSlow]

CAODC count today is 81.

[ExtraSlow]

CAODC count for May 23 is 85 rigs active.

[ExtraSlow]

CAODC count for May 29th is 88 rigs drilling.

It looks like the low point for this season was reached May 8th at 80 rigs. I award CompletelyNumb one large internet cookie as a prize for his exactly correct guess.

[CompletelyNumb]

Originally posted by ExtraSlow
CAODC count for May 29th is 88 rigs drilling.

It looks like the low point for this season was reached May 8th at 80 rigs. I award CompletelyNumb one large internet cookie as a prize for his exactly correct guess.

[ExtraSlow]

CAODC count for June 5 is 118 running. That's a big jump from last week.

[ExtraSlow]

CAODC count for June 12th is 143. Note that the count 1 year ago was 65, so we are 2x where we were at this same point. It may not be double meat subs for everyone yet, but it's something.

[Gestalt]

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CAODC count for June 12th is 143. Note that the count 1 year ago was 65, so we are 2x where we were at this same point. It may not be double meat subs for everyone yet, but it's something.

Question. How man people on average employed per rig?

[ExtraSlow]

Depends on a lot of factors, but direct employment on a full-time rig drilling near Grande Prairie is around 35 people. There are a lot of service staff not on location that are supported by that activity though, plus all the hotels/restaurants/truckers etc that benefit. I think I saw somewhere that it takes around 200 people in total, although obviously many of those are "fractionally" supporting that one rig, if you see what I mean.

[HiTempguy1]

GP is supposed to be bonkers right now. Weird times in the economy.

[Perfect Dark]

As someone in the rig service side of things it's absolutely crazy....so many rigs coming back online right now. I've been working 16-20 hour days for the last couple of weeks.

[SkiBum5.0]

Anyone have an idea on how the rates are looking for those 143 rigs?

[ExtraSlow]

Day rates for top tier rig equipment haven't gone down that much. Second tier equipment has fallen a long way. Other associated services have seen big drops.

[Perfect Dark]

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Day rates for top tier rig equipment haven't gone down that much. Second tier equipment has fallen a long way. Other associated services have seen big drops.

The operators are definitely still holding most of the cards when it comes to pricing. The delays in cementing or other services aren't going to be corrected by throwing money at it like it has in the past so they're content to pay 30-50% less for a slightly slower result.

[Gestalt]

Is oil heAding back to the 30s? Scary as we bought some investment properties.

And this story. Oil ghost ships in our future?

http://www.vancouversun.com/this+lon...268/story.html

[ExtraSlow]

CAODC rig count for June 19th is 144 Drilling.

[ExtraSlow]

CAODC rig count for June 26 is 169 rigs drilling.

[ExtraSlow]

Got a little busy with stampede and vacations, but here are the weeks I've missed.
CAODC rig counts
July 4 - 150
July 10 - 180
July 17 - 198
July 24 - 200