Canada units ‘abysmal’ for drillers
Utilization country’s 857 rigs was 42% in the first half of the year compared to 66% in same period in 2006, lowest since 1999
For Petroleum News
Nabors, Baker Hughes and Precision Drilling Trust are among those pointing fingers at Canada.
The three oilfield service giants spread more gloom over an already floundering upstream sector by posting dismal results for the second quarter in Western Canada and offering no hope of an early recovery.
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Petroleum Services Association does course correction
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