Analogs, work commitments drive drilling in Atlantic Canada

Operators are drilling on and offshore the eastern Canadian provinces, moving forward with most project plans and work commitments but letting others slide. Click here to enlarge imageAccording to Nickle's Rig Locator for July 26, there were three land rigs and five offshore rigs in eastern Canada, with an overall rig utilization rate of 55% in the region. The rigs working off Newfoundland and Nova Scotia have contracts set to expire beginning this month (Table 1). For the week ending July 23, 476 rigs were active in Canada out of a rig fleet of 713 (67% utilization). There have been 13,222 well licenses issued in Canada through July 9 and 10,440 completions. According to Nickle'...

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