Analysts say Canadian oilfield services companies with operations in the U.S. are now earning more of their revenue south of the border than they have for at least six years.
In a report, AltaCorp Capital says that trend is expected to continue as ongoing oil and gas spending weakness in Canada is balanced against steady activity in the United States.
They forecast a 16 per cent decline in Canadian drilling rig activity this year to an average of 159 active rigs, while the U.S. average rig count will be 1,009, largely flat versus 2017.
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