Forecast
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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 | Q2 | Q3 | Q4 |
| Working Rigs = 478 | Working Rigs = 407 | Working Rigs = 475 | Working Rigs = 529 |
| Workable Fleet = 600 | Workable Fleet = 600 | Workable Fleet = 600 | Workable Fleet = 600 |
| Op Hours = 286,351 | Op Hours = 218,523 | Op Hours = 273,720 | Op Hours = 285,489 |
| Avg Hours Per Working Rig = 599 | Avg Hours Per Working Rig = 537 | Avg Hours Per Working Rig = 576 | Avg Hours Per Working Rig = 540 |
| Workable Rig Utilization = 73% | Workable Rig Utilization = 56% | Workable Rig Utilization = 70% | Workable Rig Utilization = 73% |
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2025 Drilling Rig Forecast
Total Wells (Western Canada): 6,604
| Q1 | Q2 | Q3 | Q4 |
| Active Rigs = 208 | Active Rigs = 126 | Active Rigs = 205 | Active Rigs = 221 |
| Avg Fleet = 379 | Avg Fleet = 374 | Avg Fleet = 375 | Avg Fleet = 376 |
| Op Days** = 18,748 | Op Days** = 11,408 | Op Days** = 18,837 | Op Days** = 20,351 |
AverageActive Rigs = 190 |
Assumptions**Calculation based on spud to rig release |
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 + Forecast |
178 |
64,638 |
6,156 |
2025 Forecast |
190 |
69,344 |
6,604 |
Impact on Employment
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Active Rigs |
Direct Jobs |
Indirect Jobs |
Total Jobs |
Jobs per Rig |
20* |
200* |
220* |
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2022 Actual |
119 |
3,229 |
32,291 |
35,520 |
2023 Actual |
161 |
3,177 |
31,771 |
34,948 |
2024 Actual + Forecast |
165 |
3,553 |
35,528 |
39,081 |
2025 Forecast |
179 |
3,585 |
35,850 |
39,435 |
*Source CAOEC