BUSINESS

Flat year for energy drilling industry in Western Canada: Association

10/02/2013 04:59 EDT | Updated 01/23/2014 06:58 EST
RED DEER, Alta. - This year has been as flat as the Prairies for the energy drilling industry in Western Canada.

Mark Scholz (SHOLTZ), president of the Canadian Association of Oilwell Drilling Contractors, says rig utilization has been about 41 per cent so far this year.

He says that figure is expected to rise slightly to 45 per cent for the rest of 2013.

Scholz says wet weather and soft money markets are behind the modest numbers.

He predicts activity in the oil and natural gas drilling industry will continue to be flat into the new year.

The association represents about 330 companies. (CKGY)