We are of the view a recovery in the WCSB rig count is forthcoming; Western is one of the key drillers to own given its leverage to the spot market. Based on our analysis, we view Western as one of the key swing suppliers of drilling rigs for key Canadian resource plays (Montney and Deep Basin). The Company has been one of the most efficient drillers in the Montney (196 m/day vs coverage universe average of 189 m/day) and has drilled the deepest wells on average in the Deep Basin in our coverage ....
31 May 2016
The Swing Provider of Drilling Rigs to Key Canadian Resource Plays
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The Swing Provider of Drilling Rigs to Key Canadian Resource Plays
Western Energy Services Corp. (WRG:TSE) | 0 0 (-5.1%) | Mkt Cap: 103.2m
- Published:
31 May 2016 -
Author:
Ian B. Gillies -
Pages:
13
We are of the view a recovery in the WCSB rig count is forthcoming; Western is one of the key drillers to own given its leverage to the spot market. Based on our analysis, we view Western as one of the key swing suppliers of drilling rigs for key Canadian resource plays (Montney and Deep Basin). The Company has been one of the most efficient drillers in the Montney (196 m/day vs coverage universe average of 189 m/day) and has drilled the deepest wells on average in the Deep Basin in our coverage ....