B.C. is the only jurisdiction predicted to see an increase in drilling activity in the latest industry update from the Petroleum Services Association of Canada (PSAC).
PSAC has reduced its 2019 drilling activity forecast for the third time since it was released last November. It now expects 5,100 wells to be drilled in Alberta, B.C., Saskatchewan, and Manitoba, a reduction of approximately 23 per cent from its original forecast of 6,600 wells for the year.
In B.C., the forecast is for 395 wells to be drilled this year, up from 382 in 2018.
Compared with last year, the total number of wells expected to be drilled is lower by 31 per cent, according to PSAC CEO Gary Mar.