Grim Canadian upstream outlook worsens
Layoffs hit 25% in energy service companies since end of ’08; well completion forecast at lowest since 1998 when oil hit US$10
For Petroleum News
With producer cash flows evaporating, the bad news is coming in tidal waves for Canada’s upstream.
About 25 percent of energy service company employees have been laid off since the end of 2008, prompting the Petroleum Services Association of Canada to lower its 2009 well completion forecast for the....
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Many fewer gas wells
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