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Vol. 14, No. 19 Week of May 10, 2009
Providing coverage of Alaska and northern Canada's oil and gas industry


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

Gary Park

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....

    [additional news subjects in this story]

Many fewer gas wells


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