Oil Production Is Down 28.2 per cent
Source: Brian Zinchuk, pipelinenews.ca, July 17, 2020
Saskatchewan’s oil production went from 502,700 barrels per day (bpd) in March 2020, to 361,000 bpd in May, a decline of 28.2 per cent.
In recent years, by mid-July there would be 30 to 50 drilling rigs working throughout Saskatchewan. Nearly all would be drilling for oil, but one or two would be drilling for potash or helium.
The active drilling rig count is one of the key leading indicators of the oil industry. As of July 16, there was just one rig working in Saskatchewan, and it was drilling for helium, according to Rig Locator (riglocator.ca). According the Rig Locator, no drilling rigs have been drilling for oil in Saskatchewan since the end of the winter drilling season in mid-March.
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