CATEGORIZED | News

CAODC 2010 sees smaller Canadian fleet in 2010

Posted on 29 October 2009

 The Canadian Association of Oilwell Drilling Contractors anticipates a continued decline in the size of the Canadian fleet in 2010, due to equipment moving internationally and retiring. CAODC forecasts an average 800-rig fleet, down from 862 in the first Quarter 2009 and 840 in the fourth. The fleet peaked in December 2007 at 902 rigs.

On the other hand, average active rig count is expected to increase a bit, to 218 in 2010, a 4% change, up from 209 in 2009. Further, drilling days will increase bay about 4,000 to 78,480. Most of the increase, CAODC says, will be in the third quarter, with further slight pick up in the fourth quarter.

Only 40% of the fleet will be employed during the winter drilling season in the first quarter. An overall 27% utilization is expected next year.

“This will be the third year of sub-economic conditions, and at 27% is very close to the previous all-time low observed in 1992,” CAODC says.

The forecast assumes $5.50/Mcf gas and $70 oil. Activity levels are expected to be strongest in British Columbia and Saskatchewan.

Leave a Reply

*

FEATURED MICROSITES


Recent Drilling News

  • 28 August 2014

    DNV GL launches interactive Arctic risk map

    DNV GL has developed an interactive Arctic Risk Map to present the risks associated with offshore and maritime activities in the Arctic. The map aims to provide stakeholders...

  • 27 August 2014

    Video: Aviation safety program encourages employees to voluntarily report safety issues

    Since 2009, there have been no passenger fatalities on domestic airlines in the US, Ronny “Ronoo” Monsour, VP of Sales for Check-6, said. Mr Monsour also a pilot for...

  • 27 August 2014

    Vestigo Petroleum plans ‘manufacturing approach’ to marginal fields offshore Malaysia

    Vestigo Petroleum, a wholly owned subsidiary of Malaysian NOC Petronas Carigali, is about to put a tender out for its first rig on a first drilling program offshore...

  • 27 August 2014

    Case study from mining: Image-driven safety campaign removes communication barriers

    In the world of process safety, people, equipment, the environment and reputation are some of industry’s greatest assets, Marlane Kayfes, Senior Technical Writer...

  • 26 August 2014

    Video: Evolving asset maintenance requires quality data, input

    Asset reliability is a critical component to meeting business goals and expectations when it comes to safety, the environment and production. As the industry faces...

  • Read more news