The Canadian Association of Oilwell Drilling Contractors (CAODC) signaled that the latest revision to its drilling forecast “continues, and deepens, the trend of reduced natural gas drilling.” The forecast reduction issued Thursday follows lower gas drilling numbers, primarily in Alberta and British Columbia, which began to fall dramatically last year.
Articles from Oilwell
The Canadian Association of Oilwell Drilling Contractors (CAODC) last week reported 1,523 natural gas well completions in December, 9% fewer (152) than in November — yet another indication that Canada’s gas exports to the United States will fall this year, analysts said last week.
Union Drilling Inc. said it is continuing a focus on unconventional gas drilling by exercising an option with National Oilwell Varco LP to acquire three new drilling rigs, which will be deployed in the northern Texas Barnett Shale formation under multi-year contracts. Delivery is scheduled for the fourth quarter.