By Glory Przekop

GPPA president reacts to lowered drilling forecast

Apr 27, 2018 | 11:09 AM

The Petroleum Services Association of Canada’s lowered drilling forecast comes as no surprise to the President of the Grande Prairie Petroleum Association.

Rob Petrone says we are fortunate to be sitting on some of the largest reserves in North America and companies are still willing to invest but that won’t last much longer.

“What’s happening here is not normal in the oil and gas industry this day and age, we are very fortunate and sheltered here in Grande Prairie and the service companies and producers are busy here but with that comes its challenges as well.”

He says those challenges are finding workers to fill vacant positions, “there just isn’t enough bodies to go around and do the work.”

The Petroleum Services Association of Canada lowered its forecast for the number of wells to be drilled in Alberta this year from 4000 to 3800.

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“I think we could start to see some impacts closer to home where companies are making the decision to shut production in because it becomes uneconomical with the price we are getting for our commodity and once you start doing that it impacts families and service companies in the area.”