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(Editor's Note: this is the third in a series of several related stories on H 2 S in Southeast Saskatchewan. Additional stories will be posted at pipelinenews.

(Editor's Note: this is the second in a series of several related stories on H 2 S in Southeast Saskatchewan. Additional stories will be posted at pipelinenews.

(Editor's Note: this is the first in a series of several related stories on H 2 S in Southeast Saskatchewan. Additional stories will be posted at pipelinenews.

Day rates in drilling industry aren’t enough to recapitalize

Regina – Few companies in the oilpatch have been buying heavy equipment since the downturn hit in 2014. Eventually, they’re going to have to recapitalize their iron.

Calgary – Very few oilfield service companies are spending money on new equipment, according to Mark Salkeld, president and CEO of the Petroleum Services Association of Canada (PSAC). He spoke to Pipeline News via phone on Sept. 14.

Estevan – When the downturn hit hard in late 2014, one of the areas that was hit hard was light truck sales for the oilpatch.

Regina – When it comes to recapitalization in the oilpatch, it’s something Jason Moser, partner, investments with PFM Capital Inc. in Regina had been thinking about.

This edition’s focus on recapitalization was inspired by conversations with two people: Jerry Mainil Ltd. general manager Dennis Mainil, and MNP partner David Hammermeister.

Are we about to embark on the Magical Mystery Tour? As a Beatles song, it kinda sucked. But for the oilpatch, crossing the threshold of US$50 for a barrel of West Texas Intermediate oil, and staying there, is an important threshold.