The Canadian Association of Oilwell Drilling Contractors (CAODC) says the industry hasn’t had this good a second quarter since 2007. Operating days will exceed 17-thousand and are forecasted to be 1-thousand more than the previous high set during the last seven years.
CAODC president, Mark Scholz says “Stronger gas prices have increased cash investment to the industry,”
As a result Scholz adds his organization has increased its earlier estimates. The stronger activity has lead to an expected six percent hike over last years well count.
(source: CAODC news release)