As frost on the ground gives way to spring thaw and oil prices stay low, Canadian drilling contractors are pack ing up rigs early in preparation for next winter. Indeed, Canada's unseasonably warm January and February in Ql this year precluded drillers from achieving the higher rig utilization levels normally associated with winter. These weather troubles were further compounded by oil prices dipping below $50/bbl in January, which led to shrinking budgets that handicapped the Canadian market as it did worldwide. Rig utilization rates in the region diminished accordingly as companies prepared for the worst. Nevertheless, contractors are hoping the tough economic choices they make today will pay off in winter 2016.
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