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More drilling rigs from Canada are relocating to the United States, where activity is bustling and the oilfield services sector is seeing stronger demand than it is north of the 49th parallel.
Western Energy Services Corp. said this week it moved a drilling rig into the Permian Basin in Texas earlier this year, bolstering its American fleet to eight rigs.
On Thursday, Precision Drilling Corp. said it moved one high-spec rig into the U.S. during the third quarter and is now relocating a second one — the two are destined for Pennsylvania and Texas — as U.S. producers are willing to pay about $1.25 million each to relocate the units south and get them to work.
Precision, the country’s largest driller, is also eyeing the potential for more machinery to trek southward as the U.S. oilpatch is enjoying better times and paying higher rates than in Canada.
“It’s the polar opposite of sentiment,” Precision CEO Kevin Neveu said in an interview from Houston, when asked to compare the two markets.
“We don’t wake up one morning and decide to move rigs, but we wait until we can find customers who will pay for the move and will sign the rigs up on long-term contracts.
This article continues at [Calgary Herald] Another oilpatch convoy is on the move