Sunday, April 13, 2014

Is the High Gas Rig Count in Canada Finally Showing Up in Production?

The multi-year trend upwards in gas rig counts in Alberta and BC were not generating a corresponding rise in production.  Now Alberta field receipts have risen above previous highs for several days.  There are many possible temporary factors, but with each day that passes those factors are fading.  The rig count fluctuates so much during the spring break up season that a heavy spate of completions can't be ruled out, but the data show recent production at 300-400 MMCFD above 2013: