View full page at energyexch.com

 

Canadian Oil Drilling Seen Topping Pre-Covid Levels in 2022

From bnnbloomberg.ca

The pace of oil and gas drilling in Canada next year will exceed levels seen before the pandemic as producers ride the global energy rally, an industry group said. The number of oil and gas wells forecast to be drilled in 2022 will rise 27% to 6,457, the most since 2018, the Canadian Association of Energy Contractors said Tuesday. In addition to rising global energy demand and prices, Canadian oil producers are benefiting from increased pipeline export capacity after the completion of Enbridge Inc.’s Line 3 pipeline to the U.S. Still, energy companies are being disciplined as they pay down debt incurred during the ... (full story)

Story Stats

  • Posted:
  • Category: Fundamental Analysis