Fracking Frenzy Shifts to Thrift in Canada Race to Tap Shale
• Weak prices for crude puts brakes on driller spending plans
• Increasingly prolific wells help meet production targets
By News on the Net -- Bloomberg—— Bio and Archives--August 31, 2017
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After starting the year at a torrid pace, the explorers of Canada’s shale riches are taking a step back, much like their peers in the Permian Basin south of the border.
As oil’s rebound stalls and tight-rock operations in Alberta and British Columbia gush enough crude and natural gas to meet targets for the year, producers like Painted Pony Energy Ltd. and Baytex Energy Corp. may be putting the brakes on a spending spree that saw drilling in the first half more than double to over 3,000 wells. -- More...
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