Special Report: Canadian drilling activity continues to slow

10/27/2008
Canadian drilling continues its decline, but Canadian drillers are diversifying, sending rigs to the US and abroad, purchasing US rig fleets, and continuing to upgrade equipment.Although Canada is the world’s third-largest producer of natural gas, it is slowly becoming a net importer due to its severe climate and high level of industrialization. Canada usually exports a significant amount of energy output, predominantly to the US, but when the electrical grid is under pressure, provinces buy power back from the US.1Roger Soucy, president of the Petroleum Services Association of Canada (PSAC), told OGJ that the new increased government royalty rates in Alberta will come into effect J...

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