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CAODC Forecast - 2017

Released November 22, 2016
Read the Press Release

Read the State of The Industry Report: 2016 Review and 2017 Forecast

2017 Total Wells (Western Canada): 4,665*

Quarter

Active Rigs

Fleet

Utilization

Operating Days**

1st18061030%15,526
2nd6461010%5,867
3rd14061023%12,761
4th17061028%14,826
Average 201713961023%Total: 48,980
*Actual
**Calculation based on spud to rig release 
Assumptions: WTI: $53.00/bbl (USD) AECO: $3.00/Mcf (CDN) 10.5 days/well
Wells: 2013-2015
201420152016* (based on 2016 forecast)
DrillingUtil.DrillingUtil.DrillingUtil.
37046%18424% 11217%

Wells Drilled

Wells Drilled

Wells Drilled

Rig ReleasedCompletedRig ReleasedCompletedRig ReleasedCompleted
11,226

11,534

5,3945,2923,562N/A

 

Operating Days and Wells Completed
                                                              Operating Days             Wells Drilled             
2014 Actual131,02111,226
2015 Actual64,8515,394
2016 Forecast         40,4033,562
2017 Forecast                         48,980                            4,665                            
2014 vs. 201782,0416,561
63%58%
2016 vs. 2017 8,577 1,103
 21% 31%

 Impact on Employment

 Active RigsDirect JobsIndirect JobsTotal Jobs
Jobs Per Rig-21*124*145
2014 Actual3707,77045,88053,650
2015 Actual1843,86422,81626,680
2016 Forecast      1122,35713,91916,276
2017 Forecast1392,90917,17420,083
2014 vs. 2017       2324,86228,70633,568
 63%
2016 vs. 2017265513,2553,806
 23%

*Sources:

-21 direct jobs per rig (CAODC)

-124 direct and indirect jobs per rig (PSAC and Alberta Oil)