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Oil and gas well drilling expected to pick up next year

Canada’s oil and gas well drilling sector says it expects modest growth in 2024.

The Canadian Association of Energy Contractors (CAOEC) says it expects 6,229 wells to be drilled in Western Canada next year.

That’s an 8.3 per cent increase from the 5,748 wells drilled in 2023.

The industry group says most of this growth is expected to happen in the second half of 2024 as the market rebounds from what was a softer third quarter in 2023.

CAOEC says the drilling sector will need more than 39,000 workers this year.

It says finding experienced workers has been challenging and the industry is marketing itself to prospective workers across the country, including in Central and Eastern Canada.

&© 2023 The Canadian Press

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