The Canadian Industrial Outlook Service includes detailed five-year forecasts in 16 key Canadian industries. The report examines the short- and medium-term economic and profitability outlooks for these industries.
Canada’s Gas Extraction Industry: Industrial Outlook, Winter 2009
Canada’s Gas Extraction Industry: Industrial Outlook, Winter 2009
Industry Economic Analysis
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- Prices—The recession has weakened demand and led to rising inventories, resulting in prices not seen in more than two years.
- Investment—Low prices, difficulties in accessing credit, and high costs have ensured that drilling and exploration budgets in the gas industry will fall significantly this year.
- Production—Low investment in drilling this year will exacerbate already weakening production going forward. Very few high-productivity wells remain in Canada, and low prices make unconventional gas production an uneconomic option at this point. Production will fall over the medium term.
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