Alberta Oil Drilling

• Higher rig demand expected to continue as Precision Drilling boosts capital spending

  The Calgary-based company said it will spend $125 million as the current market momentum is expected to continue in anticipation of higher activity.

  Canada

  Apr 28, 2022
  
• Precision Drilling Q3 revenue up more than 50% from year ago as drilling ramps up

  Precision, which is the nation's largest drilling rig contractor, says on average it had 51 active drilling rigs in Canada in the quarter, up from 18 in the same quarter last year.

  Money

  Oct 21, 2021
  
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• Canadian drillers add most rigs in a week in five years: Baker Hughes

  Energy firms in Canada boosted the number of rigs drilling for oil and natural gas last week by the most since 2015 as producers try to take advantage of rising crude prices.

  Economy

  Jan 13, 2020
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• CNRL 2020 budget rises by $250M on oil curtailment ease; putting more rigs to work

  Canadian Natural Resources says its 2020 capital budget will be $250 million higher than last year as it adds about 60 drilling locations across Alberta and puts three additional rigs to work.

  Money

  Dec 4, 2019
• Alberta allows producers to drill new conventional oil wells without production limits

  Just in time for the winter drilling season, the Alberta government is hoping to boost the economy by allowing new oil wells to be drilled.

  Economy

  Nov 8, 2019
• Precision Drilling reports Q1 profit, revenue up from year ago as rigs continue moving south

  Precision Drilling says it made a profit in its latest quarter, as Canadian oil companies with operations in the U.S. are earning more money south of the border.

  Economy

  Apr 25, 2019
• Acquisitions, insolvencies cited as drilling company count tumbles by 40%

  A new analysis cites industry data which shows only 26 drilling contractors have been working so far in 2019, 17 fewer than observed in 2014.

  Economy

  Apr 22, 2019
• Canadian drillers moving oil rigs south to chase better prospects in Texas

  A growing number of Canadian drilling rigs are being moved south of the border to take advantage of brighter prospects for oil and gas in the United States — and observers say it's unlikely they will ever return home.

  Economy

  Jan 31, 2018
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• Precision Drilling reports higher rig demand but lower pricing in Q1

  One of Canada's largest oil and gas drilling companies is seeing renewed demand for its services but at lower prices.

  Money

  Apr 24, 2017
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• 129 new well approved under Alberta’s oil and gas royalty change early opt-in

  The Alberta government's early start to allowing oil and gas producers to apply for new projects under its modernized royalty framework has resulted in 129 new wells being approved.

  Money

  Nov 4, 2016