Petroleum Services Association of Canada (PSAC)

The Petroleum Services Association of Canada (PSAC) has released its 2019 Canadian Drilling Activity Forecast. PSAC expects a total of 6,600 wells (rig releases) to be drilled in Canada in 2019. For 2018, the Association's final revised forecast predicts a yearly total of 6,980 wells.

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Following an extensive search process with Optimum Talent, the Board of Directors is pleased to announce that Mr. Gary G. Mar will become the new President and CEO of the Petroleum Services Association of Canada (PSAC) on December 1, 2018. 

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The Petroleum Services Association of Canada (PSAC) announced the addition of a new scholarship to the Association's annual Scholarship Program. The "Remember Jordan" scholarship, created in memory of Jordan Roppel, aims to remind workers of the dangers of shock load vehicle recovery while supporting Canadian post-secondary education. More details about Vehicle Recovery Safety can be found on the Energy Safety Canada's website.

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Canadian drilling contractors are likely to continue their busy streak as 2017 wanes and 2018 begins, according to one industry association's forecast for the coming year.

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The Petroleum Services Association of Canada (PSAC), in its third update to its 2017 Canadian Drilling Activity Forecast, announced that it was increasing its forecasted number of 6,680 wells to be drilled (rig released) across Canada for 2017 to 7,200 wells drilled. PSAC based its updated 2017 Forecast on average natural gas prices of $2.75 CDN/mcf (AECO), crude oil prices of US$49.00/barrel (WTI) and the Canada-US exchange rate averaging $0.77.

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The Petroleum Services Association of Canada (PSAC), in its second update to the 2017 Canadian Drilling Activity Forecast, announced its revision of the forecasted number of wells drilled (rig released) across Canada for 2017 to 6,680 wells. This represents an increase of 2,505 wells and a 60 per cent increase from PSAC’s original 2017 Drilling Activity Forecast released in early November 2016 of 4,175 wells rig released. PSAC based its updated 2017 forecast on average natural gas prices of $3.00 CDN/mcf (AECO), crude oil prices of US$52.50/barrel (WTI) and the Canada-US exchange rate averaging $0.74.

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The Petroleum Services Association of Canada (PSAC) was pleased to hear the federal government will provide a one-time payment of $30 million to the Government of Alberta to “support provincial actions that will stimulate economic activity and employment in Alberta’s resource sector.” PSAC has been advocating for loans to decommission orphan wells, pipelines and facilities to get workers in this sector back to work following tens of thousands of layoffs, while improving environmental outcomes, reducing carbon emissions, and strengthening Canada’s reputation as responsible stewards of the environment.

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The Petroleum Services Association of Canada (PSAC) released its 2017 Canadian Drilling Activity Forecast. PSAC expects a total of 4,175 wells (rig releases) to be drilled in Canada in 2017. For 2016, the Association’s final revised forecast predicts a yearly total of 3,950 wells.

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Mark Salkeld, President and CEO of the Petroleum Services Association of Canada (PSAC), has released a copy of the letter that Enform, the industry’s Safety and Training arm funded by the six Canadian upstream oil and gas industry trade associations, submitted to the Task Force on Marijuana Legalization, Regulation and Restriction.

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The Petroleum Services Association of Canada (PSAC), in its third update to its 2016 Canadian Drilling Activity Forecast, has announced that there are no changes to its last forecasted number of 3,315 wells to be drilled (rig released) across Canada for 2016. While there were minor adjustments across various regions and provinces, overall wells drilled are expected to remain the same as PSAC’s April 2016 Forecast. PSAC based its updated 2016 Forecast on average natural gas prices of $1.90 CDN/mcf (AECO), crude oil prices of US$42.00/barrel (WTI) and the Canada-US exchange rate averaging $0.76.

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