Activity in the oilfield appears to be on the rise in southeast Saskatchewan.

According to the WTI Index, barrels of oil have stayed on or above $50 since December 1, 2016. While it may not be high as it was a few years back, the slow growth is a positive sign for the region.

"We're still quite a ways below what we were used to, but compared to the last January-February, I think it looks like it's better on the way up than it is on the way down. There's definitely more optimism and activity being generated because of the pricing," shared President and CEO of Fire Sky Energy, Warren Waldegger. 

Stability. That is the word being thrown around in the industry right now. A lot of companies have taken interest in the southeast in hopes of tapping into that commodity in the area. According to Waldegger, we've come a long way from where we were six months ago. 

"In general, I would say that a lot of the service companies a little bit more active in looking for workers. I've been seeing a lot of advertisement lately, so that's a good sign."

Of course, the recent spike in activity can be influenced by many factors, with one of them being the recent dump of snowfall. Waldegger says since we received the most snowfall in December for about 100 years, operators in southeast Saskatchewan and southwestern Manitoba are trying to get as much done as possible. Spring for 2017 is looking to be a wet one, which in turn, could hinder operations until mid to late summer. 

The Organization of the Petroleum Exporting Countries (OPEC) reported that they were going to cut back on their oil output back in October. After the follow through, prices have been stabilizing starting in December. 

"It definitely had an effect. Rumours were swirling around during summer of 2016 that they were going to cut, but it wasn't until before Christmas that they came into an agreement. It seems like some are following through with it," he adds.

The recent stability provides a little bit more basis to go out and budget accordingly, which will give them the resources to keep drilling wells and create activity. The recent stability provides a little bit more basis to go out and budget accordingly, which will give them the resources to keep drilling wells and create activity.