The Petroleum Services Association of Canada (PSAC) is predicting a major increase in oil and gas activity in Saskatchewan for 2017.
The PSAC forecast includes a significant increase in the number of wells drilled in the province to a new total of 2,600 wells, which is up from 1,940 wells in the original forecast.
READ MORE: Optimism in oil and gas industry drives Canadian drilling forecast higher in 2017
“This announcement is a clear sign of renewed operations in Saskatchewan, in part because of our province’s stable and competitive operating environment,” Energy and Resources Minister Dustin Duncan said.
“After an extended period of cost management and reductions, this industry is showing us once again the kind of resiliency and efficiency that makes it one of our most dynamic economic sectors and a major contributor to Saskatchewan’s economic growth.”
The number of wells already drilled in Saskatchewan for the first three months of 2017 is 856, compared to 399 wells drilled during the same period in 2016.
In Alberta, the number of wells already drilled in the first three months of 2017 is 1,199 compared to 519 in 2016 – Alberta expects to drill 3,320 wells this year, which will be 650 more than Saskatchewan.
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