Precision Drilling Corp. CEO Kevin Neveu said the company saw its Canadian activity increase 18 per cent in the second quarter, even as drilling activity in the U.S. slowed
Trainees roll pipe off the catwalk during a training session to lay down drill pipe on a rig floor at Precision Drilling in Nisku, Alta., in a Jan. 20, 2017 file photo.The CEO of Canada ’s largest drilling rig contracting company says it has seen a surprising surge in customer demand after the opening of the Trans Mountain pipeline expansion. CEO Kevin Neveu said Wednesday the company saw its Canadian activity increase 18 per cent in the second quarter, even as drilling activity in the U.S.
Neveu said he attributes the growth to Canadian heavy oil producers feeling more confident thanks to the Trans Mountain pipeline expansion project. The pipeline expansion started up in the spring, giving oil companies additional export capacity to international markets and helping to boost the price of Western Canadian heavy oil.
Neveu said the anticipated start-up of the Shell-led LNG Canada facility next year could spark a similar increase in activity among natural gas producers. Study and track financial data on any traded entity: click to open the full quote page. Data updated as of
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