CALGARY, AB. – The Petroleum Services Association of Canada (PSAC) had released its second update for the 2021 Canadian Oilfield Services Activity Forecast.
PSAC projects the number of wells drilled across Canada will increase from 3,350 wells to 3,600. Of those wells, 450 will be in British Columbia, up from 367 wells in 2020.
PSAC Interim President & CEO Elizabeth Aquin says, “Global demand for oil is expected to recover and grow with the ramp-up in vaccinations despite harsh restrictions to counter the third wave of COVID-19 currently wreaking havoc on several key markets around the globe.”
Nationally, 1,920 wells will be drilled in Alberta, 1,125 in Saskatchewan, 90 in Manitoba, and 15 wells in Eastern Canada.
