Released on November 6, 1997
Energy and Mines Minister Eldon Lautermilch today announced thatSaskatchewan has broken its all-time record for the number of drilling
licences issued in a calendar year for oil and gas wells. Yesterday,
the department issued its 3,993rd licence for 1997, breaking the
previous record of 3,971 set in 1985.
"There are still two months left in the year, and at the 100 or so
wells we are licensing a week, I anticipate that the new year-end
record will be substantively higher than the previous one,"
Lautermilch said.
Lautermilch added that a second new record has been set as well. To
date in 1997, the industry has drilled 3.60 million metres compared to
the old record of 3.58 million metres, also set in 1985.
"This is largely due to the advent of drilling deep exploratory and
horizontal wells, both of which are more costly to industry. On this
basis of this trend, we also expect to establish a record for industry
investment in Saskatchewan," Lautermilch said.
"Clearly the recent boom in the oil patch has been instrumental in
allowing Saskatchewan to achieve balanced budgets and maintain one of
the lowest unemployment rates in the country," Lautermilch said.
"Approximately 19,000 people are currently directly and
indirectly employed in the sector. Based on recent industry
projections of high activity for the foreseeable future, those
job figures should increase."
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For more information, contact:
Marg Moran McQuinn
Energy and Mines
Regina
Phone: (306) 787-2567