The Petroleum Services Association of Canada (PSAC) released its third quarter update to the 2015 Canadian Drilling Activity Forecast today, which highlights an expected well count of 1,660 in Saskatchewan, which is less than half of the 3,365 wells originally forecasted.
"PSAC drilling activity forecast to the end of the year remains flat," said Mark Salkeld, PSAC's president and CEO in a press release.
PSAC expects a total of 5,320 wells (rig releases) to be drilled in Canada this year. This figure remains unchanged from PSAC’s second quarter (April 2015) update, when it made a significant downward adjustment that reduced its original forecast of 10,100 wells by 4,780 wells, representing a 47 per cent decrease.
Read next week's issue of the Mercury for more details.
