Natural gas and oil field activity will become even more robust as the limits of shrinking storage volumes and drilled but uncompleted (DUC) well inventories become more pronounced, according to Calgary-based drilling technology supplier Pason Systems Inc. 

“Meeting global demand for oil which is similar to pre-pandemic levels will require new drilling,” said CEO Jon Faber. “As a result, we expect land drilling activity to steadily grow over the coming quarters.”

Baker Hughes Co. for the week ending Aug. 5, reported 56% and 30% year/year increases in U.S. and Canada rig counts.

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Calgary-based Pason, which operates in the Americas,...