Canada Rig Count for Week ending 4/4/2014

Canada Rig Count for Week ending 4/4/2014

Baker-Hughes rig count for oil and gas in Canada
by Greig Grey  |   Friday, April 04, 2014
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Baker Hughes has been the oil industry's leading resource for drilling activity for seven decades, back when they were simply Hughes Tool Company, making some of the best drill bits on the planet. And once again, they delivered the past week's data at noon today.

Canada dropped another 63 drilling rigs, down to 235 from 298 as of last week. Alberta once again took the biggest hit, stacking 51 rigs, their total now at 171. Saskatchewan moth-balled 8 units, leaving only 7 rigs in the field. British Columbia is down 4, with 55 rigs still roaring and boring, while Manitoba's fleet is all shut down. Newfoundland has 2 offshore wells underway.

The months of March, April, and May have been historically harsh on Canada's drilling activity, according to Baker Hughes' data. The slowdown is most likely due to the spring thaw weight restrictions, set in place to protect the highways. Many of the drilling rig components far exceed the weight limits, and they get trapped after completing a well, waiting for the ground to thaw. Some years well over half of their rigs were stacked during those months; others it was far more.

So far, it appears that history is repeating itself. Time will tell as to the effect that the restrictions have on operations in the weeks and months ahead. The limits could last longer this year due to the unusually cold winter.

This month in Canadian oil patch history.
The "Old Glory" well was drilled 105 years ago at Bow Island Alberta. It was drilled on the wrong location, and was the largest gas producing well at the time in Canada.

Greig Grey recently published a book about his oil drilling adventures. It's titled "Oil Field Trash and Other Garbage" and is available at CreateSpace.

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