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Active Drilling Rigs: 
Working Service Rigs: 

Forecast


 

 

The current CAOEC 2024/25 Drilling and Service Rig Forecast was released on November 29, 2024.

Download the 2024 State of the Industry Report and 2025 Forecast (November 2024)

2025 Service Rig Forecast

Q1 (Actual) Q2 Q3 Q4
Working Rigs = 459 Working Rigs = 407 Working Rigs = 475 Working Rigs = 529
Workable Fleet = 596 Workable Fleet = 600 Workable Fleet = 600 Workable Fleet = 600
Op Hours = 285,198 Op Hours = 218,523 Op Hours = 273,720 Op Hours = 285,489
Avg Hours Per Working Rig = 622 Avg Hours Per Working Rig = 537 Avg Hours Per Working Rig = 576 Avg Hours Per Working Rig = 540
Workable Rig Utilization = 74% Workable Rig Utilization = 56% Workable Rig Utilization = 70% Workable Rig Utilization = 73%


Average 

Working Rigs = 468
Workable Rig Utilization = 68%

Total Op Hours = 1,062,930


2025 Drilling Rig Forecast

Total Wells (Western Canada): 6,604

Q1 (Actual) Q2 Q3 Q4
Active Rigs = 203 Active Rigs = 126 Active Rigs = 205 Active Rigs = 221
Avg Fleet = 372 Avg Fleet = 374 Avg Fleet = 375 Avg Fleet = 376
Op Days** = 18,240 Op Days** = 11,408 Op Days** = 18,837 Op Days** = 20,351
 

Average 

Active Rigs = 189
Fleet = 374

Total Op Days** = 68,836
 

  

Assumptions

**Calculation based on spud to rig release
WTI = $77.00/bbl (USD)
AECO = $2.62/gj (CDN)
10.5 days/well

Operating Days & Wells Completed

Time Period

Average Active Rigs

Operating Days

Wells Drilled

2022 Actual

161

58,833

5,723

2023 Actual

159

57,944

5,389

2024 Actual

168

61,456

5,769

2025 Forecast

190

69,344

6,604
 

Impact on Employment

Active Rigs

Direct Jobs

Indirect Jobs

Total Jobs

Jobs per Rig

20*

200*

220*

2022 Actual

161

3,229

32,291

35,520

2023 Actual

159

3,177

31,771

34,948

2024 Actual

168

3,360

33,600

36,960

2025 Forecast

190

3,800

38,000

41,800
 
*Source CAOEC