Canadians are back drilling

The Canadians are the only category in this month’s BH Rig Count to have the same or more rigs working than as at March 2020.

Finally, the price of oil is high enough to make those tar sands 
The rest of the world is yet to do get close to having the same amount of wells in operation.

The Middle East is lagging behind significantly.
Perhaps it pays better to limit production supply?

While the African’s need to play a little more catch up, I think the European’s are stifled by ESG ’embarrassment’.

Other factors may also be at work. When wells are ’shut-in’, its not always certain they can be operable again. Some wells can collapse.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: