Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Canadian Drilling Forecast Boosted for 2013, Industry Group Says

April 25 (Bloomberg) -- Canadian oil and natural gas drilling will rise 9 percent this year, an industry group said, boosting its estimates from November.

The higher forecast was attributed to an increase in gas drilling in British Columbia and more oil drilling in Alberta, the Petroleum Services Association of Canada said in an e-mailed statement today. Companies are expected to drill 12,000 wells, a 600-well increase from the group’s prior projection.

“Drilling activity is keeping on a steady pace this year, and we anticipate another pick up in activity” in the third and fourth quarters, Mark Salkeld, chief executive officer of the Calgary-based organization, said in the statement.

Natural gas prices gained 39 percent in New York during the first quarter of 2013, compared with a year earlier.

To contact the reporter on this story: Rebecca Penty in Calgary at rpenty@bloomberg.net

To contact the editor responsible for this story: Susan Warren at susanwarren@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.