Canada oil and gas drilling forecast up by 23pc

摘要

As many as 5,150 oil and gas wells will be drilled in Canada this year, nearly 1,000 more than expected just two months ago, according to the Petroleum Services Association of Canada (PSAC). The association, which represents the bulk of oil and gas producers in Canada, said the higher activity is spurred by stronger and more stable oil prices. The new outlook represents an increase of 975 wells from its November forecast, based on PSAC's C$3/mmcf ($2.30/ mmcf) natural gas and $52.50/bl WTI prices.