Dismal gas drilling forecast gets bleaker

For the first time in more than two decades, the group that represents oil and gas drillers in Canada has been forced to revise its already bleak outlook for the industry.

The Canadian Association of Oilwell Drilling Contractors is now predicting 22 per cent fewer wells will be drilled in Western Canada, compared to the forecast it released in October.


“Activity levels have been low enough that we’re not tracking onto a 2009 forecast that was fairly pessimistic to begin with,” association president Don Herring said Friday.

He said this was the first time in 25 years that the group has had to change its forecast in the middle of winter, which is usually the busiest time of year for natural gas drillers.

CBC News