Drilling declines of more than 20% forecast in US, Canada

07/01/2002
Drilling declines of 20% or more year to year are likely in the US and Canada in 2002. Click here to enlarge imageOGJ forecasts a drop of almost 29% in the US compared with 2001, when operators drilled an estimated 36,990 wells.The decline in Canada should be substantial but less severe, OGJ reckons.Elsewhere in the world, overall drilling in January through April 2002 appears to be a near carbon copy of activity in the first 4 months of 2001. Click here to view Oil & Gas Journal Well Forecast for 2002 pdfHere are highlights of OGJ's midyear drilling forecast for 2002:Operators will drill 26,350 wells in the US this year, a drop of 28.7% from the estimated 26,990 wells drilled in 200...
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