Current Drilling Forecast


  The current CAOEC 2023 Drilling Forecast was released on November 23, 2022.

 

DOWNLOAD THE STATE OF THE INDUSTRY REPORT AND 2023 FORECAST (November 2022)


2023 Forecast: Total Wells (Western Canada): 6,409


Q1 2023 
(Forecast)

Active Rigs = 230
Fleet = 451
Op Days** = 20,806

Q2 2023 
(Forecast)

Active Rigs = 120
Fleet = 446
Op Days** = 10,868

Q3 2023 
(Forecast)

Active Rigs = 200
Fleet = 446
Op Days** = 18,408

Q4 2023 
(Forecast)

Active Rigs = 220
Fleet = 446
Op Days** = 20,413

Average 2023

Active Rigs = 193
Fleet = 193
Op Days** = 70,495


Assumptions

** Calculation based on spud to rig release
WTI = $83.00/bbl (USD)
AECO = $3.19/gj (CND)
11 days/well


Operating Days & Wells Completed

Time Period

Operating Days

Wells Drilled

2020 Actual

29,790

3,293

2021 Actual

43,840

4,638

2022 Actual + Forecast

61,404

5,582

2023 Forecast

70,495

6,409

2022 vs. 2023

9,091

826


Impact on Employment

Active Rigs

Direct Jobs

Indirect Jobs

Total Jobs

Jobs per Rig

20*

200*

220

2020 Actual

81

1,628

16,283

17,911

2021 Actual

119

2,385

23,850

26,235

2022 Actual + Forecast

168

3,356

33,557

36,913

2023 Forecast

193

3,850

38,500

42,350

2022 vs. 2023

25

494

4,943

5,437

 
*Source CAOEC