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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: jbe who wrote (18428)	4/8/1998 10:32:00 AM
From: Czechsinthemail	Respond to of 95453

Figures on Canadian rig utilization: Drilling Rig Utilization Averaged 88% In First Quarter A little more than a third of Canada's 577-rig fleet is at work this week with most of the remaining activity concentrated in west central Alberta. Spring break-up has dropped the active rig count to 218 from over 500 at the beginning of March. How many rigs will return to work for the summer will depend partly on oil prices and the amount of capital producers are willing to put into gas drilling. Despite the oil price crash, the winter of 1997/98 will go down in the records as one of the busiest ever for the oilpatch. Rig utilization for the first quarter -- based on weekly surveys -- averaged 88% even though oil prices were low and Canada's contractors had 78 more rigs available for work than last year. Of the 560 rigs in the Canadian fleet available for work in the first quarter, 493 were active and 66 were down. That compares to fewer active rigs last year (448) but a higher utilization rate of 93% since demand was high and only 34 of the 482 rigs available were down. exchange2000.com