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Calgary drilling companies are parking rigs and laying off crews at a much faster and deeper pace than in the last oil price crisis of 2008-09, oilfield analysts say, noting current rig counts suggest the winter drilling peak is already behind us.

The Canadian Association of Oilwell Drilling Contractors calculates that 335 drilling rigs were working this week, down 40 per cent from 559 at this time last year. Using its measure of 135 direct or indirect jobs generated per rig, that difference translates to more than 30,000 fewer jobs.

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“In reality, spring breakup has already started and it’s not an environmental breakup, it’s economic,” said analyst Dana Benner of AltaCorp Capital on Wednesday, adding he hasn’t seen a decline so sudden in 19 years of analyzing oilfield services companies.

“I am surprised because we’re two weeks earlier than the last time I can remember. When it’s early, it should still be half decent for another couple of weeks. Even in a crappy year, you should get to at least mid-February before you see these declines.”