Upstream heads downhill
Western Canada reeling as drilling, well permits, land sales crumble in the face of tight financial markets, cratering gas prices
For Petroleum News
Even with land at basement-price levels, the major operators are turning their backs on government auctions in Western Canada, with returns for the three leading provinces totaling C$73.36 million for the first two months compared with C$393.42 million last year.
Itís small comfort to Alberta, which....
[additional news subjects in this story]
Based on $50 WTI
Land sales down
Gas outlook dismal
Gas operating costs up
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