RE:FIRST QUARTER 2022 FINANCIAL AND OPERATING RESULTSLost the arms race. Unable to upgrade rigs.
"Western's market share, represented by the Company's Operating Days as a percentage of the CAOEC's total Operating Days in the Western Canadian Sedimentary Basin ("WCSB"), decreased to 6.7% for the first quarter of 2022, as compared to 8.2% in the same period of 2021, as a result of limited capital spent on rig upgrades during the economic downturn."