OGJ NEWSLETTER

There's a new buoyancy in Canada's upstream sector. Canadian drilling activity is expected to jump by more than half this year from last year's depressed level. However, Canadian drilling contractors are still just breaking even. Canadian Association of Oilwell Drilling Contractors (Caodc) issued a revised estimate forecasting 7,400 wells drilled in western Canada this year, up 54% from the 4,776 drilled in 1992.

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