Forecasts for Canada’s oil well drilling revised up
Baku, Azerbaijan, Jan.31
By Leman Zeynalova – Trend:
In its first update to the 2017 Drilling Activity Forecast, Petroleum Services Association of Canada (PSAC) has revised its forecasted number of wells drilled (rig releases) across the country for 2017 to 5,150 wells, according to PSAC website.
This represents an increase of 975 wells, or 23 percent, from PSAC’s original 2017 drilling forecast released in early November 2016, according to the report.
“Some of the Canadian oilfield service, supply and manufacturing sector are realizing some uptick in activity as oil prices recover and operators increase their drilling programs,” said president and CEO of PSAC Mark Salkeld.
The Petroleum Services Association of Canada is the national trade association representing the service, supply and manufacturing sectors within the upstream petroleum industry.
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