Saskatchewan to drill most oil and gas wells in 2017, says PSAC
Oil and gas drilling expected to rise in 2017, but only slightly, according to PSAC
Saskatchewan is expected to lead the country in oil and gas drilling in 2017, narrowly surpassing Alberta, according to the Petroleum Services Association of Canada's latest forecast, which was released Wednesday.
There are several reasons why Saskatchewan is expected to surpass Alberta in activity, such as a shallower basin, operational changes, and a more attractive environment for investors.
Alberta will still lead the country in the amount of oil produced because of the oilsands.
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This year, 3,950 wells are expected to be drilled in Canada, and 4,175 wells in 2017. The forecasted activity for 2017 is 63 per cent lower than the number of drilled wells in 2014, before the industry's downturn.
PSAC based it's forecast on an average oil price of $52 US a barrel, which may be a conservative estimate, since some forecasters are anticipating crude prices around $56-$60 next year.