Canada to top 20,000 wells

Gary Park

Petroleum News Calgary correspondent

Canada will pass a landmark 20,000 well completions in 2003, eclipsing its previous high of 18,184 in 2001.

Industry statistics show 19,979 wells were rig released in the first 11 months, 17 percent ahead of the same period in 2002.

Exploratory wells accounted for almost 5,000 of the total, 37 percent up from the previous year, and development drilling surged 43 percent to 14,987. Alberta claimed 13,125 of the well completions, of which 9,612 were targeting natural gas prospects, followed by Saskatchewan at 3,706 (2,071 listed as gas wells), British Columbia 709 (577 gas), Manitoba 88 and Northern Canada eight (five gas and three dry holes), with Eastern Canada logging 95, 60 of them listed as gas wells.