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Special Report: Midyear Forecast: US, Canada drilling rekindled as gulf faces uncertainty

07/05/2010
By Alan Petzet
Drilling onshore in the US and in western Canada is enjoying a brisk uptick from 2009 as US Gulf of Mexico activity succumbs to federal regulatory uncertainty.Strength in oil prices has led to much more drilling this year than OGJ could predict in the January forecast. Even more drilling could be bolstering the rig count if natural gas prices showed much firmness.Absent that, many operators, especially those heavily invested in the unconventional gas plays, are attempting to shift drilling rigs to plays prone to oil or natural gas liquids production and away from dry gas areas.Drilling in the US Gulf of Mexico had shrunk to 17 rigs by June, but operators ran more than double that number o...
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