Well permit record still within reach

Gary Park

Petroleum News Calgary correspondent

Canada’s new well approvals cooled in October without yet jeopardizing the chances of a new 12-month record.

Following the feverish pace in September, operators licensed 1,868 wells last month, a 28 percent decline from September, but 19 percent better than the 1,566 permits in October 2002. The 10-month tally reached 20,862 approvals, just 1,105 wells short of the annual benchmark of 21,967 in 2000.

The year-to-date breakdown includes 15,729 licenses for Alberta, 4,063 for Saskatchewan, a preliminary figure of 845 for British Columbia, 99 in Manitoba, 24 in northern Canada and 111 in eastern Canada. Alberta’s tally included a record 407 coalbed methane wells. Natural gas has dominated activity and is on target to surpass 16,500 permits, with about 13,200 projected for Alberta.

Oil is lagging well behind the 2000 record, standing at 5,135 permits entering November compared with the record 6,095 for the period.