Oilpatch Drilling To Grow Next Year But Only Slightly: Petroleum Services Association of Canada

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OILPATCH DRILLING TO GROW
Oilpatch drilling will grow next yeat but only slightly said the Petroleum Services Association of Canada. Alberta will see some growth but B.C. numbers are expected to shrink. (Alamy) | Alamy

CALGARY - Drilling activity in Canada's energy sector is forecast to grow next year, but not by much.

The Petroleum Services Association of Canada is projecting that a total of 11,400 oil and natural gas wells will be drilled in 2013.

That's only 150 more than this year's total.

PSAC bases its projections on an average price of $3.25 per thousand cubic feet for natural gas and US$95 per barrel of oil.

The association, which represents more than 250 companies, expects drilling next year will increase by three per cent in Alberta and five per cent in Manitoba.

Drilling is forecast to drop by 11 per cent in B.C. and by one per cent in Saskatchewan.

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