CALGARY — Precision Drilling Corp., one of Canada’s largest drilling companies, has brought back 1,000 employees and begun increasing the price it charges customers for its specialized rigs in a sign that oilfield activity levels are beginning to recover after a prolonged downturn. “We’re encouraged by the significant improvement in sentiment of our customers and the resulting increase in activity and market share that we’ve achieved,” Neveu said. But Neveu said Precision had now more than doubled its activity levels since the trough, which he defined as the second quarter of this year. Even though they’re maintaining their market share, they should relatively outperform in Canada,” MacNeil said. MacNeil said he expects oilfield activity levels to recover slightly this winter drilling season, with more rigs working this year than last year.

Source: National Post October 21, 2016 21:00 UTC