Drilling Forecast
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Oil and gas well drillers want federal funding to help industry decarbonizeThe Canadian Association of Energy Contractors (CAOEC) says it expects 6,229 wells to be drilled in Western Canada next year.EconomyNov 24, 2023
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Drilling forecast calls for 14% rebound in 2021 from depths of 2020 activityThe organization that represents Canadian drilling contractors is forecasting a 14 per cent increase in the number of oil and gas wells to be drilled in Canada in 2021 compared with the historic lows this year.CanadaNov 18, 2020
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Prolonged oil industry slump leads to third cut in Canadian drilling forecastPSAC says it now expects just 2,800 wells will be drilled in Canada this year, down from a nearly 50-year low of 3,100 in its revised forecast in April.CanadaJul 29, 2020
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Canada’s oil and gas drilling forecast revised to 49 year low as producers cut spendingThe Petroleum Services Association of Canada has revised its 2020 Canadian drilling forecast to an almost 50-year record low of 3,100 oil and gas wells.EconomyApr 30, 2020
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Kenney vows to fight for Alberta oil sector as drillers forecast almost no growth in 2020The CAODC predicts just nine more wells will be drilled in Canada in 2020 compared to 2019, and fewer drilling rigs are expected to be in service.CanadaNov 13, 2019
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Canadian oil and gas drilling activity expected to fall by 10 per cent in 2020The association representing oil and gas service companies is predicting a 10 per cent fall from current depressed levels of drilling in Canada next year.EconomyOct 31, 2019
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Slow summer causes drilling forecast to go from bad to worseAnalysts say they've cut their 2019 rig activity and well counts for this year by between six and eight per cent and in 2020 by five to six per cent.CanadaJul 23, 2019
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Drilling forecast cut because of lower expectations for 2019 oilpatch spendingThe Petroleum Services Association of Canada is cutting 1,000 wells from its 2019 drilling forecast due to what it calls deteriorating investor confidence in Canada.MoneyJan 29, 2019
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PSAC downgrades drilling forecast for 2019The Petroleum Services Association of Canada has forecast another drop in oil well drilling in Canada, representing a third year of plateaus in drilling activity.EconomyNov 2, 2018
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National drilling contractors association forecasts ‘muted stability’ in 2018The association that represents Canadian oil and gas drilling companies says it expects "muted stability'' for the industry in 2018 despite recent strengthening in oil prices.CanadaNov 21, 2017
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