Wednesday, September 07, 2016

And Yet We Are Surprised It Could Get Worse

Drilling activity to fall further than expected as oil prices continue to languish

CALGARY - Drilling activity in the oilfield has slowed to the point that 2016 will be the worst year on record for the oil and gas industry, the Canadian Association of Oilwell Drilling Contractors said Wednesday in a revised activity forecast. The CAODC's updated forecast for the fourth quarter of this year shows a 25 per…