BC Natural Gas Drilling Drops and Downward Trend to Continue into 2016, Says Report

The Vancouver Sun reported that natural gas drilling in BC’s northeast has dropped sharply in 2015, a trend that is expected to continue into 2016 according to a report by the Canadian Association of Oilwell Drilling Contractors.
As quoted in the market news:

The situation will continue as long as North America’s energy markets remain depressed and producers wait out decisions on whether or not liquefied natural gas export proposals will proceed.
As of mid November, drillers had punched 462 wells in the ground in B.C., which isn’t the worst result in the last five years, but is down 32 per cent from the end of November a year ago, according to the B.C. Oil & Gas Commission.
And the CAODC doesn’t see conditions changing much for 2016, said John Bayko, the association’s vice-president of communications.
“By all indications, B.C. is trending downward just like the rest of Western Canada,” Boyko said. “I think we’ve seen a (big) decrease in operating days year-to-date in B.C. and we don’t anticipate that being any different moving into 2016.”

Click here to read the full Vancouver Sun report.