Better incentives behind Canada's drilling upturn

Journal Article · Mon Apr 26 04:00:00 EDT 1976 · Oil Gas J.; (United States)

OSTI ID:7274290

Higher energy prices and improved exploration incentives have sparked a sharp upturn in exploratory drilling in western Canada, particularly Alberta, but also British Columbia and Saskatchewan. The drilling rebound from 1975 is marked, but the supply of drilling rigs is adequate for the explorations planned. Alberta has set up a program of exploration incentives to ease the impact of higher taxes; similar programs are in effect in British Columbia and Saskatchewan. Although most Canadian operators reported improved field prices for oil and gas during 1975, the higher energy prices and tax and royalty breaks caused a mixed pattern of profits for Canadian oil companies. An increase in the domestic price of crude oil is being negotiated. (JSR)

• OSTI ID: 7274290
• Journal Information: Oil Gas J.; (United States), Journal Name: Oil Gas J.; (United States) Vol. 74:17; ISSN OIGJA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020200 -- Petroleum-- Reserves
Geology
& Exploration
03 NATURAL GAS
030200 -- Natural Gas-- Reserves
Geology
& Exploration
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002* -- Energy Planning & Policy-- Petroleum
294003 -- Energy Planning & Policy-- Natural Gas
ALBERTA
BRITISH COLUMBIA
CANADA
ENERGY POLICY
EXPLORATION
GEOLOGIC DEPOSITS
GOVERNMENT POLICIES
MARKET
NATURAL GAS DEPOSITS
NORTH AMERICA
PETROLEUM DEPOSITS
RESOURCES
SASKATCHEWAN