• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 1 min COVID 19 May Be Less Deadly Than Flu Study Finds
  • 23 mins Would bashing China solve all the problems of the United States
  • 4 hours Chicago Threatens To Condemn - Possibly Demolish - Churches Defying Lockdown
  • 1 hour Model 3 cheaper to buy than BMW 3 series.
  • 6 hours Yale University Epidemiologist Publishes Paper on Major Benefits of Hydroxchloroquine for High-risk Outpatients. Quacksalvers like Fauci should put lives ahead of Politics
  • 11 hours China to Impose Dictatorship on Hong Kong
  • 59 mins Let’s Try This....
  • 1 min Iran's first oil tanker has arrived near Venezuela
  • 6 hours HVDC Cheaper Than Low-carbon Natural Gas
  • 11 hours Nothing can shake AMLO’s fossil-fuel fixation
  • 10 hours 60 mph electric mopeds
  • 6 hours Oil and Gas After COVID-19
  • 37 mins Pompeo's Hong Kong
  • 12 hours Natural gas is crushing wind and solar power
U.S. Cuts Royalty Rates For Oil Firms

U.S. Cuts Royalty Rates For Oil Firms

The U.S. Administration has been…

5 Points To Consider Before Buying Oil Stocks In 2020

5 Points To Consider Before Buying Oil Stocks In 2020

For contrarian investors, there may…

The Risky Road To Oil Demand Recovery

The Risky Road To Oil Demand Recovery

Oil demand is rebounding quickly…

Oil & Gas 360

Oil & Gas 360

From our headquarters in Denver, Colorado, Oil & Gas 360® writes in-depth daily coverage of the North American and global oil and gas industry for…

More Info

Premium Content

Oil Comes Back To Life In Canada

Canada is expecting a 31 percent increase in the number of wells drilled in 2017: CAODC

Two years after the collapse in oil prices forced the oil and gas industry to scale back drilling, the Canadian Association of Oilwell Drilling Contractors (CAODC) is forecasting a year-over-year increase in the number of wells drilled in Canada.

Companies will drill 4,175 wells next year, a 31 percent increase compared to 2016, according to the association. The number is still 63 percent lower than the 11,204 wells drilled in Canada in 2014, but marks a turning point for the industry as oil prices remain below $50 per barrel.



Source: CBC

The increased drilling could also mean more jobs, according to CAODC, with the potential of an additional 3,000 direct and indirect jobs.

“The types of rigs that will be in demand in this new environment will be highly specialized to drill manufactured wells,” said Brian Krausert, CEO of Beaver Drilling, in a statement. “The rigs of the future will drill wells faster, more efficiently and with more consistency while reducing risk.”

Saskatchewan beats Alberta for most new wells in 2017

Surprisingly, the province with the highest drilling activity next year will not be Alberta, according to the association. Saskatchewan is expected to edge out Alberta by 40 wells in 2017 for a total of 1,940. Saskatchewan is expected to drill more wells than the traditionally energy-heavy Alberta thanks to a shallower basin, operational changes and a more attractive environment for investors, CBC reports.

“Saskatchewan will outperform Alberta in wells drilled for the first time in the 36 years I’ve been in the industry and probably the first time ever,” Petroleum Service Association of Canada (PSAC) President Mark Salkeld said. “It’s a drive to get the wells drilled, completed, producing and getting cash. It’s a hole-making factory that they’ve got going on down there.”



Source: CBC

While Saskatchewan will account for the largest number of new wells drilled, Alberta will still lead Canada in total production because of the oilsands.

PSAC based its forecast on an average oil price of US$52 per barrel.

By Oil & Gas 360

More Top Reads From Oilprice.com:


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • EdBCN on November 26 2016 said:
    How is 4175 wells a 30% increase from 3950? More like 6%.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News