Canadian oil and natural gas drilling is plummeting to the slowest pace in half a century, report the industry’s field contractors.
Articles from Psac
Canadian natural gas and oil drilling will continue to decline next year, predict the industry’s field contractors.
Canadian drilling will increase modestly next year, with the 2018 well count set to increase to 7,900 from 7,550, the annual forecast by the Petroleum Services Association of Canada (PSAC) is predicting.
Improved commodity prices and a shift in investment emphasis are fueling a partial recovery by Canadian natural gas and oil drilling this year, according to the voice of the industry’s service, supply and manufacturing companies.