Hike in Canadian E&P capital budgets excludes greater gas play development

摘要

Record second-quarter cash flows have prompted Canada's leading oil and gas producers to hike their 2008 capital budgets by 10%, but, with few exceptions, little is being directed at gas plays.rnThe shaky outlook for gas prices, combined with higher upstream costs, hefty increases in British Columbia and Saskatchewan land values and unease about a predicted shortage of righands for the upcoming winter season are cited as contributing factors to the uneasy mood.