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CAODC Forecast - Current (2017)

CAODC 2017 Drilling Forecast

Released June 13, 2017
Read the Press Release

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

2017 Total Wells (Western Canada): 6,842*

Quarter

Active Rigs

Fleet

Utilization

Operating Days**

1st25364539%23,421
2nd10563517%9,626
3rd19563531%17,774
4th24163538%21,018
Average 201719963831%Total: 71,839
*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

5,3945,2924,072N/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. 201759,1824,384
45%39%
2016 vs. 2017 31,436 3,280
 78% 92%

 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       1723,60921,26624,868
 46%
2016 vs. 201786181110,69512,506
 77%

*Sources:

-21 direct jobs per rig (CAODC)

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