Ottawa's 'just transition' rhetoric adds to oilpatch labour crunch, writes ChrisVarcoe cdnpoli yyc ableg
One of the country’s largest drillers, Precision now employs 5,600 workers across the world, up about 25 per cent from a year ago.Sign up to receive daily headline news from the Calgary Herald, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.
On Thursday, Precision Drilling announced it paid down $106 million of total debt in 2022, topping its earlier target for the year of $75 million.the winter drilling season is heating up. It now has 78 rigs working across Western Canada, eclipsing last year’s peak of 72. It was also pounded by the pandemic and a collapse in oil prices, which saw petroleum producers slash budgets almost three years ago.Article content
“The big challenge, and what is going to really prohibit additional growth beyond 15 per cent, is just the staffing challenges,” CAOEC president Mark Scholz said Thursday.xpects petroleum producers will increase capital expenditures by about 10 per cent this year over 2022 levels, even with oil and gas prices dropping recently.Article content
By November, the oil and gas industry employed about 188,500 Canadians, up 1.3 per cent — or 2,500 positions — from the same time a year earlier, according to the PetroLMI division of Energy Safety Canada. “It doesn’t help when we keep hearing ‘just transition’ and that automatically goes to being understood as we’re transitioning away from oil and gas and there are no jobs to be had, which is not the case,” said Gurpreet Lail, CEO of Enserva, formerly known as the Petroleum Services Association of Canada.Article content
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