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COSSD News

March, 2011 Headlines

In its first update to its 2011 drilling activity forecast, the Petroleum Services Association of Canada (PSAC) is forecasting a new total of 12,750 wells drilled (rig released) across Canada for 2011, an increase of 500 wells (four per cent) from PSAC’s original forecast released in early November last year.

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If you need an oilfield service or supply, you can always try a search engine like Google. However, you may not find what you need.

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Drill, case and complete spending in the Western Canada Sedimentary Basin (WCSB) this year will total about $21.9 billion, predicts Peters & Co. Limited. That’s up significantly from Peters’ forecast in its North American Energy Overview: Fall 2010 report, which projected 2011 spending of about $17.2 billion in the WCSB for drill, case and complete. At the time, Peters was forecasting 10,500 wells would be drilled in the basin in 2011.

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Many people in Canada’s oil & gas industry use a Garmin GPS. Each comes preloaded with “Points of Interest” such as restaurants, gas stations, banks, etc. However, they won’t help you find oilfield service & supply companies.

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North American service companies are planning significant investments to boost fracturing capacity for the second year in a row, but do not think there will be excess pumping capacity in the market, say company executives.

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The COSSD is Canada’s most widely used and industry-accepted oil & gas directory with more than 26,000 listings in more than 1,900 specialized oilfield categories. It provides accurate and current information on explorers & producers and service & supply companies.

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