Low prices harpoon Canada's mini-boom

Journal Article · Wed Feb 01 04:00:00 EST 1989 · World Oil; (USA)

OSTI ID:7014192

Maciej, H ^[1]

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1. Canadian Petroleum Association, Calgary, Alta (CA)

The authors present an analysis of the year 1988 in the Canadian oil and gas industry. With budgets underpinned by price expectations of $17/bbl to $18/bbl for WTI crude, optimism pervaded industry at the beginning of the year. Budget plans called for total spending of some C$7.6 billion, an increase of 25% over the C$6.1 invested in 1987. Drilling plans would have made 1988 the fourth best year on record with total well completions close to the 9,000-well mark. The year started strongly, as prices performed close to expectations. When prices began to soften and no reversal was apparent, corporate expenditures began to be adjusted in the second half.

• OSTI ID: 7014192
• Journal Information: World Oil; (USA), Journal Name: World Oil; (USA) Vol. 208:2; ISSN 0043-8790; ISSN WOOIA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
03 NATURAL GAS
030600 -- Natural Gas-- Economic
Industrial
& Business Aspects
CANADA
ENERGY SOURCES
FLUIDS
FOSSIL FUELS
FUEL GAS
FUELS
GAS FUELS
GASES
INDUSTRY
NATURAL GAS
NATURAL GAS INDUSTRY
NORTH AMERICA
PETROLEUM
PETROLEUM INDUSTRY
PRICES