As you are probably aware, well drilling numbers are down over the last few years. In this weeks post, Innovative Well Abandonment is looking at the top 10 oil and gas companies in Western Canada in terms of their total wells drilled over the last 12 months and we compared this to the number of wells that they drilled in the prior 13 ro 24 months.
These numbers have working interest assumptions from XI Technologies applied to the wells drilled.
|Company||Drills Last 12 Months||Drills 13 to 24 Months Ago||Difference|
|Crescent Point Energy||269||444||175|
|Tundra Oil and Gas||90||160||70|
With the numbers above, in the last 12 months these companies have drilled 1,772 wells and the prior 13 to 24 months, these companies drilled 2,630 wells. The difference are 858 wells or a difference of 33%.
Below you will see the percent reduction that each of these companies had from 13 to 24 months ago vs the last 12 months.
|Crescent Point Energy||39%|
|Tundra Oil and Gas||44%|
Obviously with these sort of numbers, this has a huge impact on the revenue for drilling contractors.
Below is a map showing where these different companies drilled over the last 12 months.
Innovative Well Abandonment is a hydrojet cut and cap company with offices in Neilburg SK, Lloydminster AB, Lac La Biche, AB, Edmonton, Calgary, Drayton Valley, AB, and Fort St. John, BC.
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