Current Drilling Forecast

The current CAODC 2019 Drilling Forecast was released on November, 2018. Read the Press Release here.

The 2019 State of the Industry Report was released on November 22, 2018.


2019 Forecast: Total Wells (Western Canada): 6,962*


Q1 2019

Active Rigs = 280
Fleet = 552
Utilization = 51%
Op Days** = 23,502

Q2 2019

Active Rigs = 118
Fleet = 527
Utilization = 22%
Op Days** = 10,453

Q3 2019

Active Rigs = 185
Fleet = 522
Utilization = 35%
Op Days** = 16,525

Q4 2019

Active Rigs = 220
Fleet = 522
Utilization = 42%
Op Days** = 19,138

 

Average 2019

Active Rigs = 201
Fleet = 531
Utilization = 38%
Op Days** = 69,617

Assumptions

* Actual  ** Calculation based on spud to rig release
WTI = $58.75/bbl (USD)
AECO = $2.00/mcf (CND)
10.0 days/well


Operating Days & Wells Completed

Time Period

Operating Days

Wells Drilled

2016 Actual

43,184

4,627

2017 Actual

69,353

6,031

2018 Actual + Q4 Forecast

69,110

6,911

2019 Forecast

69,617

6,962

2018 vs. 2019

508 or 0.7%

51 or 0.7%


Impact on Employment

Active Rigs

Direct Jobs

Indirect Jobs

Total Jobs

Jobs per Rig

21*

124*

145

2016 Actual

112

2,357

13,919

16,276

2017 Actual

194

4,074

24,056

28,130

2018 Actual + Forecast

207

4,342

25,637

29,979

2019 Forecast

201

4,216

24,893

29,109

2018 vs. 2019

-6

-126

-744

-870

 
*Sources: 21 direct jobs per rig (CAODC); 124 indirect jobs per rig (PSAC & Alberta Oil)