Alberta drilling rises with oil prices
Posted Jan 27, 2011 7:52 am.
This article is more than 5 years old.
Rising oil prices are prompting a surge in Alberta drilling.
Sixty per cent of western Canada’s drilling rigs are currently active.
That’s compared to 54 per cent during the first quarter last year and 37 per cent at the same time two years ago.
A forecast by UBS also predicts that rig usage will steadily rise past the 60 per cent mark, as oil prices go up.
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