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Petroleum Services Association of Canada (PSAC)

Address Suite 1150, 800 6 Avenue SW, Calgary, AB, T2P 3G3, CA
Phone 403-264-4195
Fax 403-263-7174
Email [email protected]
Website psac.ca

Related Articles

PSAC forecast update confirms low investor confidence in Canada

The Petroleum Services Association of Canada (PSAC), in its third update to its 2019 Canadian Drilling Activity Forecast, announced that it is decreasing its forecasted number of wells to be drilled (rig released) across Canada for 2019 from 5,300 (May 2019 revision) to 5,100 wells drilled. PSAC based its updated 2019 Forecast on average natural gas prices of $1.60 CDN/Mcf (AECO), crude oil prices of US$57.00/barrel (WTI) and the Canada-US exchange rate averaging $0.76.

PSAC raises more than $39,000 for education and energy literacy

The Petroleum Services Association of Canada (PSAC) has announced that its "PSAC Working Energy Golf Classic", powering Canadian energy and education and raising funds for awareness and education, raised over $39,000 thanks to the generosity of energy industry companies, employees, their guests, and the numerous sponsors whose livelihoods depend on the health of the industry. The sold-out event took place July 24 at the Inglewood Golf & Curling Club. 

PSAC cites market access challenges as it cuts 2019 forecast for second time

The Petroleum Services Association of Canada (PSAC), in its Midyear Update to the 2019 Canadian Oilfield Services Activity Forecast, lowered for a second time its Forecast for the number of wells drilled (rig released) in 2019 across Canada to 5,300 wells - a drop of 1,300 or twenty per cent (20%) from the original Forecast of 6,600 in November 2018.  PSAC has based its updated Forecast on an average natural gas price of C$1.65/mcf (AECO), crude oil price of US$57.00/barrel (WTI), and a U.S.-Canada exchange rate averaging $0.75.

Deteriorating investor confidence in Canada causes cut in PSAC 2019 forecast

In its first update to the 2019 Canadian Drilling Activity Forecast, the Petroleum Services Association of Canada (PSAC) has revised the number of wells drilled (rig released) across Canada for 2019 to 5,600 wells. This represents a decrease of 1,000 wells, or 15 percent, from PSAC's original 2019 drilling Forecast released in November 2018 and reflects the deteriorating investor confidence in Canada.  

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