Drilling activity is down in Saskatchewan

Not many rigs are working in Saskatchewan anymore. Photo by Brian Zinchuk

There’s only eight rigs drilling for oil in southeast Saskatchewan right now. A few years ago, that was 30, and before that, 50 or 60. Everyone I ask tells me that no one wants to invest in Canada with the current federal government. This seems to be proof of that.

7 Replies to “Drilling activity is down in Saskatchewan”

“This seems to be proof of that.”

Of course it is. Right now there are over 800 drilling rigs active in Texas. In one exploration zone alone offshore in Angola there are nine. And that’s for deep sea exploration. The only relevant question now is how quickly Justatwit and his gang of morons can be given the boot.

Brian what are the rig levels at in N Alberta and NE BC … perhaps the economics are better elsewhere.

Brian

Thanks for your posts. This is important information.

The problem is the long term effects. What kind of business can survive in a boom and bust economy driven by politics?
The bust to our energy policy because of the current twits in office is going to have a very long term deleterious effect on our energy and cost of living, even if we manage to elect a pro-energy government.

The pendulum swings are going to be getting wider, as the people of the world continue believing the lies they’re being told. And nobody is going to invest the amount of money needed to do real energy development when the rug can be pulled from under their feet in 4 years.

I’ve heard that for every $100,000 invested by institutional investors in Canada, $80,000 is invested elsewhere, mostly in the US where productivity has been growing rather than in decline here. That’s for all investment not just O&G. The fact that US PEs are double what the Canadian Oil Patch offers tells you that the Canadian sector is shunned by institutional investors likely due to propaganda campaigns, ESG mush, evil and moronic federal government, and related lack of egress. Also, soft demand (we are in recession) and fear of repeating the over-production era of the past. As for Saskatchewan’s lack of rigs, it must be preference for sweeter plays elsewhere like the Clearwater.

Spendy McBlackface promised his Marxist Boyfriends at the WEF that our oil would remain in the ground, destroying what is left of our pathetic Country.

I wish a slow painful death to Justin Trudeau, Freeland and a list of other FILTHY LIBERALS. Medieval style I hope.