Winter ‘toast,’ drillers see crumbs for 2008
Canadian drilling contractors expect rig utilization to hit lowest ebb since 1986-92; braced for further revisions once oil and gas industry understands Alberta's royalty hike
For Petroleum News
Even without knowing the detailed impact of higher oil and gas royalties in Alberta, Western Canada is heading into its crucial winter drilling season in deep trouble and faces what the Canadian Association of Oilwell Drilling Contractors says will be a “sub-economic” year.
CAODC President Don Herr....
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Rig rate forecast at 34%
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