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Drilling Forecast Calls for Fewer Canadian Oil and Gas Wells

Source: The Staff The Canadian Press, globalnews.ca, October 30th, 2020

The forecast for 2021 is 47 per cent lower than in 2019.

The Petroleum Services Association of Canada says it expects another “bleak” year for Canadian oil and gas drilling in 2021.

It says it expects a total of 2,600 wells will be drilled in Canada next year, down from its expected total of 2,850 wells in the current year. Both numbers represent more than 50-year lows for activity.

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