Drilling forecast rises on bump in Canada's commodity price expectations
The association representing oilfield service companies is boosting its 2021 drilling forecast by 29 per cent thanks to a stronger commodity price outlook.
Elizabeth Aquin
Canadian oil industry cutting drilling forecast for a third time as slump continues
The Petroleum Services Association of Canada is cutting its 2020 Canadian drilling forecast for a third time as the industry remains mired in a slump expected to extend well into the second half of the year.
B.C. $120 million plan to clean up inactive oil and gas wells revealed
British Columbia has announced details on how it plans to spend $120 million in federal funds earmarked for cleaning up inactive oil and gas well sites across the province.
Oil and gas drilling forecast revised to 49 year low
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, a level not seen since 2,900 wells were drilled in 1972.