According to Canadian Association of Oilwell Drilling Contractors ("CAODC"), the average number of active Canadian drilling rigs in Q4 2012 was 376 out of 831 (45%); an increase of 5% compared to the average for Q3 2012 of 330 out of 816 (40%), but a drop of 16% compared to the average for Q4 2011 of 488 out of 804 (61%) drilling rigs. CWC proactively anticipated the drop in drilling activity by shifting over 80% of its service rig work to production maintenance, workovers and abandonments primarily focused on oil-related activities which resulted in Q4 2012 financial results that were better than Q3 2012. While U.S. oil prices remain at healthy levels averaging US$88.15 per barrel for West Texas Intermediate ("WTI") in Q4 2012 compared to US$93.90 per barrel in Q4 2011, the discount differential between Western Canadian Select ("WCS"), the price at which most of our exploration and production ("E&P") customers sell their oil at, and WTI increased from an average of US$12.29 per barrel in Q4 2011 to US$16.35 per barrel in Q4 2012. This discount pricing differential resulted in less urgency from our E&P customers to get new wells drilled and completed in Q4 2012. Continued uncertainty throughout Q4 2012 over resolution of the U.S. fiscal cliff combined with the potential results of the U.S. election and the likelihood of Keystone XL and Northern Gateway pipelines being built on a timely basis, if at all, also contributed to the decision by our E&P customers to slowdown or postpone capital expenditures on drilling new wells. The overall result for CWC was a decrease in the service rig utilization rate of 52% in 2012 compared to 2011 of 57%. As for natural gas, both NYMEX and AECO continue to experience depressed prices with NYMEX averaging US$2.75 per MMbtu in 2012 compared to US$3.99 per MMbtu in 2011. These low natural gas prices continue to have a significant effect on the underutilization of our Coil Tubing, Snubbing and Well Testing assets in Q4 2012.
Revenue for 2012 is up 3% due primarily to the addition of 22 service rigs from the Trinidad Well Servicing ("TWS") acquisition in June 2011 coupled with the addition of five more service rigs from build and recertification programs in 2012 which contributed to a 15% increase in revenue in the Well Servicing segment. This overall revenue increase is offset by the sale in December 2011 of our nitrogen assets in our Other Oilfield Services segment that no longer contribute to revenue in 2012. The nitrogen assets in 2011 contributed $7.0 million in revenue. In addition declines in snubbing activity in 2012 contributed to the 53% decrease in 2012 revenue in the Other Oilfield Services segment. While revenue growth has increased marginally by 3%, EBITDAS has decreased 12% due to the lower activity levels in snubbing in 2012 compared to 2011 and the higher margin nitrogen business which did not contribute to EBITDAS in 2012.
CWC is the 6th largest service rig provider in the WCSB, operating a modern fleet of 68 service rigs and 8 coil tubing units as of the date of this report; four new service rigs were built in 2012 and one recertified service rig came into service in the fourth quarter. Rig services include completions, maintenance, workovers and abandonments with depth ratings from 1,500 to 5,000 metres. Our service rig fleet, with its leading edge technology, continues to stand out in an industry characterized by ageing equipment and infrastructure.
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