Growth in the Canadian oil and gas well drilling business is projected next year: CAOEC

By: 600011 On: Nov 25, 2023, 12:49 PM


Experts believe that the oil and gas well drilling industry in Canada will expand next year. The Canadian Association of Energy Contractors (CAOEC) estimates that 6,229 wells will be drilled in Western Canada in 2024. This represents an 8.3 percent increase from the 5,748 wells drilled this year. The majority of this growth will occur in the second half of 2024, when the market will recover in the third quarter of this year, according to the industry association. According to CAOEC, the drilling industry will require over 39,000 personnel. However, officials state that finding skilled labor is difficult.