More oil wells are expected to be drilled in Saskatchewan in 2017 than originally forecast.
The Petroleum Services Association of Canada (PSAC) is forecasting a major increase of oil and gas activity in the province.
An update on Friday stated approximately 2,670 oil wells will be drilled, up from 1,940 wells in the original forecast.
Dustin Duncan, Saskatchewan’s energy and resources minister, said in a news release “this announcement is a clear sign of renewed operations in Saskatchewan, in part because of our province’s stable and competitive operating environment.”
PSAC said the number of wells drilled in the first three months of 2017 is 856, compared with 399 wells drilled during the same period in 2016.
PSAC estimates 6,680 wells will be drilled in Canada in 2017, an increase of 2,505 wells and a 60 per cent increase from the original 2017 drilling activity forecast released in November 2016.