Alberta oil patch forecast

The stand-pat forecast is more positive than one released two weeks ago by the Petroleum Services Association of Canada, which called for a 10 per cent drop in wells drilled next year to 4,500, down from 5,000 wells this year. Visit the Daily Oil Bulletin for 2020 Company Guidance. In its forecast Wednesday, the CAODC predicted a total of just nine more wells are expected to be drilled in Canada in 2020 compared with 2019, taking the total number to 4,905. That's less than half the 11,226 wells drilled in 2014. The forecast reduces the number of wells expected to be drilled in Alberta by about 580 to 2,950, and in Saskatchewan by about 450 to just under 2,000.

PetroLMI says the workforce is forecast to drop to about 173,300 in 2019, a decline of 23 per cent from 226,500 in 2014. Watch: The impact of automation on Alberta's oilsands. Story continues below. The average for the month 57.26. The Oil Price forecast at the end of the month 58.18, change for May 4.1%. Oil Price forecast for June 2020. In the beginning price at 58.18 Dollars. High price 62.72, low 58.18. The average for the month 60.22. The Oil Price forecast at the end of the month 61.79, change for June 6.2%. Oil production will increase from 3.85 million barrels per day in 2016 to 5.1 million in 2030, according to the Canadian Association of Petroleum Producers (CAPP) in its 2017 forecast released on Tuesday. The main growth driver will be the Alberta oilsands, which is expected to grow production by 53 per cent during that time frame. The board says all provinces will grow this year except Newfoundland and Labrador which will shrink by 3 per cent before bouncing back in 2018 on new oil production at the Hebron offshore project. Ontario is forecast to slow to 2.3 per cent in 2017 thanks to a slowing housing market in

9 Dec 2019 Alberta's oil industry has faced crisis after crisis, and while Canada's oil Job losses, office vacancies, and oil companies leaving the oil patch all the Canada Energy Regulator, forecast the production of crude oil in the 

14 Nov 2019 CALGARY -- Premier Jason Kenney vowed Wednesday to keep fighting for Alberta's slumping oil and gas sector as the industry unveiled  17 Dec 2019 Alberta wants to flip the script in oilpatch's favour — it won't be easy. "Now, investment is still much, much lower than it was in 2014. So we have  31 Oct 2019 After 'very disappointing' 2019, Canada's oil and gas drilling forecast sinks even lower PSAC estimates 2,155 wells will be drilled in Alberta in 2020. dragged down by a sense of uncertainty in the oilpatch after a federal  30 Jan 2020 Oilpatch downturn – five years and still counting 2,460 wells to be drilled in Alberta, up 14% from 2,155 wells in the original forecast. Alberta's government could mandate further cuts to oil production if rising crude 500,000 barrels a day forecast for March, Alberta Premier Jason Kenney said. 8 Mar 2020 Canada's oil stocks could face a bleak future if the price of oil drops to $30 In fact, Goldman Sachs just issued a forecast for Brent Crude and West the ones operating in Alberta's oil patch, and extracting crude oil from tar  A summary of Alberta's Budget 2020 economic forecast. led by a rebound in oil production; continued growth in investment outside oil and gas extraction 

Oil production will increase from 3.85 million barrels per day in 2016 to 5.1 million in 2030, according to the Canadian Association of Petroleum Producers (CAPP) in its 2017 forecast released on Tuesday. The main growth driver will be the Alberta oilsands, which is expected to grow production by 53 per cent during that time frame.

Premier Jason Kenney vowed Wednesday to keep fighting for Alberta's slumping oil and gas sector as the industry unveiled another disappointing drilling forecast and criticism surfaced from an The Alberta government twice rolled back part of the initial 325,000 barrels per day reduction imposed on large producers of crude oil and bitumen by a total of 150,000 barrels per day. Published Wednesday, June 17, 2015 6:47AM MDT. An industry jobs forecast in Alberta has some grim news for those working in the energy sector, saying that 25,000 people could lose their jobs in 2015. Oil is currently sitting at $60 per barrel, well down from the price last year. PSAC Forecast Update Oilpatch downturn – five years and still counting CALGARY, AB (January 30, 2020) – In its first update to the 2020 Canadian Oilfield Services Activity Forecast, released today, the Petroleum Services Association of Canada (PSAC) has revised the number of wells drilled (rig released) across Canada for 2020 to 4,800 wells. The stand-pat forecast is more positive than one released two weeks ago by the Petroleum Services Association of Canada, which called for a 10% drop in wells drilled next year to 4,500, down from

20 Nov 2018 While the U.S. oil industry has hit a speed bump with the recent $20 drop in oil prices in New York, producers in Canada are in a full-blown 

Visit the Daily Oil Bulletin for 2020 Company Guidance. In its forecast Wednesday, the CAODC predicted a total of just nine more wells are expected to be drilled in Canada in 2020 compared with 2019, taking the total number to 4,905. That's less than half the 11,226 wells drilled in 2014. The forecast reduces the number of wells expected to be drilled in Alberta by about 580 to 2,950, and in Saskatchewan by about 450 to just under 2,000. Predictions for Alberta’s growth have been dialed back. Scotiabank this week forecast 2020 growth of 1.6 per cent. The weakening outlook for Alberta’s oil has a lot to do with that.

Oil production will increase from 3.85 million barrels per day in 2016 to 5.1 million in 2030, according to the Canadian Association of Petroleum Producers (CAPP) in its 2017 forecast released on Tuesday. The main growth driver will be the Alberta oilsands, which is expected to grow production by 53 per cent during that time frame.

30 Jan 2019 In all the uproar over pipelines, it's easy to miss what is quietly flowing in Alberta's oil patch: some of Canada's biggest investments into  12 Jul 2009 Special Report: Forecasts moderate Alberta oil sands production growth Another recent forecast from the Canadian Association of Petroleum  WATCH ABOVE: (From Dec. 3, 2019) Texas is taking advantage of Alberta's weakened oil sector, enticing Canadian energy workers to move to south. Dallas Flexhaug explains what the Lone Star State The stand-pat forecast is more positive than one released two weeks ago by the Petroleum Services Association of Canada, which called for a 10 per cent drop in wells drilled next year to 4,500, down from 5,000 wells this year. Visit the Daily Oil Bulletin for 2020 Company Guidance. In its forecast Wednesday, the CAODC predicted a total of just nine more wells are expected to be drilled in Canada in 2020 compared with 2019, taking the total number to 4,905. That's less than half the 11,226 wells drilled in 2014. The forecast reduces the number of wells expected to be drilled in Alberta by about 580 to 2,950, and in Saskatchewan by about 450 to just under 2,000. Predictions for Alberta’s growth have been dialed back. Scotiabank this week forecast 2020 growth of 1.6 per cent. The weakening outlook for Alberta’s oil has a lot to do with that.

In all, non-renewable energy sources are expected to make up 15 per cent of Alberta’s total revenues by 2022-23, hitting $8.5-billion from the $5.1-billion forecast for 2020-21.