Prolonged oil industry slump leads to third cut in Canadian drilling forecast
The Petroleum Services Association of Canada says it now expects just 2,800 wells will be drilled in Canada this year
Energy sector shutting down oil production as low crude oil prices persist
More producers join a growing list of companies reducing spending and cutting production.
Spring breakup slowdown offers needed pause for hard hit drilling industry
Drilling will be reduced even more than usual: 31% decline forecast for average working rig count in Canada for the rest of 2020.
Ensign Energy exec forecasts Canadian drilling rebound
Company hopes to put 45 to 50 rigs to work in Western Canada in the third quarter.
PSAC cuts oil and gas drilling forecast again as slowdown deepens
Slowdown due to decaying investor confidence as export pipeline projects are delayed.
Acquisitions, insolvencies cited as drilling company count tumbles by 40%
The Canadian drilling market would benefit from more consolidation given recent declines in drilling activity.
Western Energy sends drilling rig to US south as Canadian activity dries up
Drilling contractors have relocated 20 of their rigs to the US in 2018 to now, up from just six in 2017.
Alberta oil and gas drilling rights auction rises to $504M in 2017
Sales give companies the right to drill exploration wells on land where the province owns the mineral rights.
Seeking energy dominance by exporting oil, gas and coal to global markets.
Seeking energy dominance by exporting oil, gas and coal to global markets.
Oilfield services M&A picks up as battered drillers seek lower costs, scale
Drillers and service companies are rehiring staff and redeploying equipment after cutting costs to the bone during the downturn.
Improved oil drilling forecast tempered by Trump risk
PSAC concerned competition from the US pro-business policies of the president.
Drilling group calls on Alberta, feds to show sector more respect
Head of industry association says 100,000 people are out of work in the oil and gas industry – the equivalent of one in six.
TransCanada subsidiary must stop drilling under Athabasca River: NEB
Potentially toxic substance released after leak at Nova Gas Transmission Ltd. site.
Oil well drilling association forecasts 2016 to be worst year in a generation
Association anticipates a 57% drop in activity compared to 2014.
Shell gets permits for limited Alaska oil exploration
Needs emergency capping stack for deeper drilling off Alaska’s northwest coast.
