Precision Drilling Corp. says wildfires in Alberta and BC have had a modest impact on its operations as companies had to shut in production.
Wildfires in Alberta and B.C. have forced oil and gas companies to shut in production due to the dangers facing their operations caused by the hot and dry conditions.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter.
In the U.S., the contract drilling company says its active rig count currently stands at 50, but cautioned that activity may further soften in the coming weeks. Precision says its U.S. drilling activity in the second quarter this year is expected to average about 50 rigs compared with an average active rig count of 55 in the second quarter of 2022.
The company says it continues to sign new contracts, with multiple rigs starting in the second half of the year.
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