By Glory Przekop

CAPP: Grande Prairie well positioned in the oil and gas industry

Oct 25, 2017 | 9:24 AM

The state of the oil and natural gas industry was discussed in Grande Prairie yesterday.

Chris Montgomery with the Canadian Association of Petroleum Producers says while this year rebounded by 20 percent, next year will remain flat.

“In 2016 we drilled just over 3700 wells in Western Canada, this year we are now predicting it will be just over 7200 and we are predicting the same, 7200 for 2018.”

He says this region remains active.

“That’s a sign that you have a good resource, producers are just able to focus on the best resources in North America and that’s one of them. Not to say we don’t have challenges but given the climate that we are in, Grande Prairie is very well positioned.”

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He says those challenges include not knowing what the provincial government’s updated policy regarding the Woodland Cariboo will be, government regulations as well as the United States stepping back from environmental stewardship.