The Canadian Press

2015-11-18 | Oilwell Drilling Forecast

Preview Clip

The Canadian Association of Oilwell Drilling Contractors is predicting no rebound for next year as activity levels continue to drop. The group is forecasting total jobs in the industry will decline 17 per cent compared with this year, and will be down 57 per cent compared with 2014. Association president Mark Scholz (SCHULTZ) says the industry is facing some of its toughest challenges ever. (Scholz says the current active rig count is at its lowest level since 1983 -- one of the worst periods in the industry's history.)

Date: 2015-11-18
Placeline: CALGARY.
Source: The Canadian Press
Length: 17 seconds

Transcript Prediction: << Drake the drilling and service rig industry is facing one of the most difficult Economic Times in a generation it is difficult to quantify the challenges that lie had but there will be significant hardship loan businesses families and workers >>