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May 14, 2008
Rain Drenches the Provost Area
Plenty of moisture had soaked into the land and also fell on highways in the area recently. Farmers are now anxiously awaiting fields to dry up enough to put seeding equipment to work. ©Provost News Photos.
Rebound in Natural Gas Prices Pushes Up Drilling Forecast
Slowdown May Not be as Dramatic as Anticipated
Natural gas activity prices are propelling drilling in the oil patch to higher levels than previously forecast according to the Petroleum Services Association of Canada.

Roger Soucy, who is president of PSAC told The Provost News in a telephone interview from his Calgary office that most of the drilling will likely take place in the last third of the year.

The price of natural gas has gone up “fairly dramatically” since last October when the forecast was calling for $6 per gigajoule but is now in the $9 to $10 range.

Spring break is now on and that creates a lull time for pricing because the heating season is over and the cooling season in the U.S. is not on yet, so the industry is at its weakest now, says Soucy.

If prices hold firm oil and gas producers “will dust off some drilling plays they have and start increasing budgets and putting that into action in the second half of the year” which could be starting near September.

The increase in annual average gas prices compared to last fall is about 30 percent but the question Soucy says, will be “is it going to stay there?”

The revised forecast is for all of Canada but there are only 75 wells being drilled from Ontario east.
A previous prediction by PSAC in October for the year was calling for 14,500 wells but now the forecast for 2008 is 16,500 wells—up about 14 percent “but not near the record high drilling of 25,000 in 2005, but certainly a lot better than what we were looking at last fall.” If the mood of the industry stays at what it is now, that will likely be reflected in the budgets in the fall of 2009.

Full story and photos in May 14 edition of The Provost News.
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Provost News First in National Competition
Outgoing president of the Canadian Community Newspapers Association, Coleen Campbell (left) of Taber, Alta. congratulates Provost News editor Rich Holmes in Toronto, Ont. on Friday night, May 9 for his first place photographic award. The “Best Photo Essay” entry, (circulation up to 3,999) had also won first place in an earlier Alberta Weekly Newspapers Association competition. The latest entry was evaluated by a judge somewhere in Canada and features local farmer Harold Olson during harvest time. Second place went to Martha Perkins, Minden (Ontario) Times while third was awarded to Dave Cooper and Karen Wells, Lewisporte (Newfoundland) The Pilot. The News photo essay is reprinted in this paper on page 18. ©Provost News Photo.

Full story and photos in May 14 edition of The Provost News.
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170 People Raise Over $5,000 for Cancer Society
A Mother’s Day Weekend Family Fun Run held at Provost on Saturday pulled in over $5,000 that will be turned over to the Canadian Cancer Society.

Full story in May 14 edition of The Provost News.
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Street Spokesman
This week we ask: We ask "Would You Like to Learn More About Business or Economics in High School?"
. . . and we heard opinions from Jesse Lawes, Karli Sortland, Travis Twa, Shelby Hager, and Benjamin Perkins.
Check out the May 14 edition of The Provost News for their answers.
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This, along with many other stories and pictures can be found in this week's edition of The Provost News.
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