2013 forecast predicts continuing decline in oil wells
Posted Nov 13, 2012 3:10 pm.
This article is more than 5 years old.
The Canadian Association of Oilwell Drilling Contractors is predicting a six per cent decrease in its oil well count next year.
The association says the decline is mostly based on the uncertainty of global commodity prices.
Vice President Nancy Malone tells 660News that factor can be hard to predict.
“You know our operating community is being cautious, in terms of their budgeting and their planning. Our work is based on their assumptions, and that’s what we’re hearing is just some caution in terms of 2013.”
But Malone says the numbers are not too concerning, and they are looking forward to their busiest season.
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