CALGARY – An industry organization predicts 2025 will see the highest amount of oil and natural gas well drilling activity in Canada in a decade.
The Canadian Association of Energy Contractors, which represents drilling and service rig companies, says it expects a total of 6,604 wells to be drilled in Western Canada in 2025 — a 7.3 increase from 2024.
The organization says it also expects the number of jobs in the sector to grow seven per cent year-over-year, to 41,800.
It attributes the uptick in activity to this year’s completion of the Trans Mountain pipeline expansion, which has given oil companies increased export capacity.
It says natural gas drilling should rise due to the expected startup in 2025 of LNG Canada, the country’s first major liquefied natural gas export facility.
The association says Canada must work to keep its energy sector competitive as the new Trump administration south of the border seeks to grow the U.S. oil and gas industry.
This report by The Canadian Press was first published Nov. 29, 2024.