Rigs Won’t be Fleeing This Area
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Drilling currently continues near Provost late into the night beside Fleeing Horse Lake as this area remains a bright spot in the oil patch for development compared to much of the rest of Alberta. Story in this paper. ©Provost News Photo.
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More Drilling Than Last Year For Area—Forecast
• Other Places to Have Less Activity but ‘Oilpatch Will be Able to Weather the Storm’
• Oilpatch Battles Effects of Markets, Royalties and Prices
A 2009 Canadian drilling activity forecast, prepared by the Petroleum Services Association of Canada (PSAC), forecasts a total of 16,750 wells drilled (rig released) across Canada for 2009.
This represents a four per cent decrease in total wells drilled, compared to the expected final tally for 2008 of 17,400 wells.
The reduction in wells is most predominant in Alberta, whereas most other provinces are seeing a slight increase.
“It is difficult to say what the long term effects of the current economic situation will be. Fluctuating commodity prices and market volatility will no doubt have an impact on well counts in the coming year. While these issues are likely to trigger a slowdown initially, indicators suggest that, overall, the oilpatch will be able to weather the storm,” says Roger Soucy, president of PSAC.
“The biggest hit is taking place in Alberta, which will see a drop of 1,350 wells, due in large part to the province’s new royalty regime that is coming into effect in 2009. The new regime simply makes it more attractive for companies to diversify into places like B.C. and Saskatchewan that are now seen as being more competitive.”
Soucy however told The Provost News in a telephone interview that in the area called “AB4” which includes Provost that there is a forecast of 1,350 wells for 2009. This includes 250 gas wells, 1,050 oil wells, 39 dry wells and service wells (like disposal), 11. Last year in AB4 there were 1,079 so the drilling is forecast to be “actually going up” in this area.
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Provincially for 2009, PSAC estimates 10,400 wells drilled in Alberta and 1,150 in British Columbia, representing a decrease of 11 per cent in Alberta and an increase of 29 per cent in B.C. over expected 2008 drilling levels. Saskatchewan’s drilling rate in 2009 will see a nine per cent increase to 4,725 wells. Drilling in Manitoba will see a three per cent drop to 325 wells.
Full interview and story in November 19 edition of The Provost News.
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Final Training for Commonwealth Taekwondo Championships
Final training is taking place in Provost for a girl who will be competing at this year’s Commonwealth Taekondo Championships in Winnipeg this week.
Sixteen year old Darla Erker of Cactus Lake is receiving final instructions and sparring sessions from coach Marc Geestman of Provost.
Full story and photo in November 19 edition of The Provost News.
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Watch Out for Phone Fraud, Insurance Companies Warn — Some in Provost Called
The Insurance Bureau of Canada (IBC) is warning consumers to avoid disclosing financial information over the phone after several consumers received calls from fraudsters pretending to be insurance industry representatives.
Full story in November 19 edition of The Provost News.
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Street Spokesman
This week we ask : "What’s the Farthest You’ve Been From Home?"
. . . and we heard answers from Vern McNalley, Janice Rasmussen, Stephen Paulgaard, Brenda Loden, and Les Manning. Check out the November 19 edition of The Provost News for their answers.
Want to Subscribe to The Provost News? Click here. |
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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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