The 2015 Canadian Drilling Activity Forecast, released by the Petroleum Services Association of Canada (PSAC), forecasts a total of 10,100 wells drilled (rig releases) across Canada for 2015. This is a slight decrease from the expected final tally of 10, 830 wells drilled (rig releases) for 2014.
“We are forecasting only a small slump in activity for the year despite the fairly rapid decline in the price per barrel," says Mark Salkeld, president and CEO of PSAC. “We are anticipating a cold winter again this year, so expect that we will see a typical ramp up of Q1 activity, and of course, slower activities in the spring with break up. However, we expect the last two quarters of 2015 to see an uptick to finish another year with strong performance.”