NEB| Western Canadian rig activity typically peaks in the winter, when the ground is frozen and rigs can move into areas they normally cannot access during the rest of the year. Activity is lowest in the spring, when rigs are prevented from moving into new drilling locations due to the frozen ground melting and provinces enacting road bans. Allowing for these seasonal fluctuations, low oil and natural gas prices have clearly caused western Canada’s rig activity to fall significantly over the past two years. During the summer of 2016, the number of rigs drilling wells had fallen 50% from 2015 summer levels, and over 60% from 2014 summer levels.
NEB – OCTOBER 25, 2016.
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