Canada raises ’03 drilling targets; operators remain cautious

FirstEnergy Capital sets most ambitious target of 18,300 well completions, including 11,300 gas targets, but finds capital spending lags behind commodity prices

Gary Park

PNA Canadian Correspondent

The stars are rarely better aligned to support record drilling for oil and natural gas in Canada, but a mood of industry caution prevails, despite sky-high commodity prices, soaring profit levels and the tightening gas supply outlook. Updated forecasts in the last week have raised well-completion t....

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Producers forecast C$2 billion growth

WTI of $23.50 base of budgets

Gas supply expected to fall