Drilling association says industry is on life support

Drilling association says industry is “on life support” The summer of 2016 is not going to be a happy one for those still looking for work in the energy patch.Even though prices have firmed up a little in recent weeks, there is no indication as to when activity in terms of exploration might pick up. The president of the Canadian Association of Oilwell Drilling Contractors says his industry is “on life support” and he’s concerned about the immediate and long term future.“We’ve seen some stabilization in commodity prices, which is good, I think we’re moving in the right direction. But we’re definitely not out of the woods at this point,” says Mark Scholz.Scholz thinks it could be another year before drilling activity picks up, and when it does, service companies are going to have a tough time rebuilding their workforce.“(It’s) going to exacerbate the situation on the upside, which is we’re going to have a very difficult time trying to find people to get back onto the rigs and back to work,” he says.Scholz says rig utilization numbers are hovering around historic lows, many workers who in the past rode out down cycles are now considering getting out of the industry all together. by Posted Jun 25, 2016 11:43 am MDT Last Updated Jun 25, 2016 at 11:45 am MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email

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