_News Talk 770
4/25/2012
Record low natural gas prices, together with labour shortages have prompted PSAC to lower it's drilling activity forecast for the year.
However, the total number of wells drilled in 2012 across Canada is still expected to be up slightly over last year, but in Alberta there will likely be a 2% drop at 7,949 wells.
Mark Salkeld, President & CEO of the Petroleum Services Association of Canada, says the days of 20,000 plus wells are over due to fact that longer and more complex wells are being drilled now.
He adds it's actually a good time to be in the industry because the work is steady and the technology has never been better.
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