Drilling Forecast

• Oil and gas well drillers want federal funding to help industry decarbonize

  The Canadian Association of Energy Contractors (CAOEC) says it expects 6,229 wells to be drilled in Western Canada next year.

  Economy

  Nov 24, 2023
  
• Drilling forecast calls for 14% rebound in 2021 from depths of 2020 activity

  The 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.

  Canada

  Nov 18, 2020
  
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• Prolonged oil industry slump leads to third cut in Canadian drilling forecast

  PSAC 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.

  Canada

  Jul 29, 2020
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• Canada’s oil and gas drilling forecast revised to 49 year low as producers cut spending

  The 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.

  Economy

  Apr 30, 2020
• Kenney vows to fight for Alberta oil sector as drillers forecast almost no growth in 2020

  The 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.

  Canada

  Nov 13, 2019
• Canadian oil and gas drilling activity expected to fall by 10 per cent in 2020

  The association representing oil and gas service companies is predicting a 10 per cent fall from current depressed levels of drilling in Canada next year.

  Economy

  Oct 31, 2019
• Slow summer causes drilling forecast to go from bad to worse

  Analysts 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.

  Canada

  Jul 23, 2019
• Drilling forecast cut because of lower expectations for 2019 oilpatch spending

  The 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.

  Money

  Jan 29, 2019
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• PSAC downgrades drilling forecast for 2019

  The Petroleum Services Association of Canada has forecast another drop in oil well drilling in Canada, representing a third year of plateaus in drilling activity.

  Economy

  Nov 2, 2018
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• National drilling contractors association forecasts ‘muted stability’ in 2018

  The 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.

  Canada

  Nov 21, 2017