ANOTHER RECORD YEAR FOR SASKATCHEWAN’S OIL PRODUCTION

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ANOTHER RECORD YEAR FOR SASKATCHEWAN’S OIL PRODUCTION

[ http://www.gov.sk.ca/news?newsId=6c3079 ... 3aadac8f5d ]

News Release - January 27, 2014

Saskatchewan’s oil patch set new records in 2013, in some categories surpassing benchmarks established just the year before.

The province’s oil production for the calendar year just ended is 177.9 million barrels (487,400 barrels per day), up from the previous record of 172.9 million barrels (472,500 barrels per day) set in 2012. Drilling activity was robust, with a total of 2,433 horizontal oil wells drilled in 2013, a new record that surpasses the 2,036 horizontal oil wells drilled in 2012.

“These records reflect the hard work of the men and women employed in Saskatchewan’s oil industry” Energy and Resources Minister Tim McMillan said. “The importance of the oil industry cannot be understated, as a top employer and exporter it contributes positively to communities throughout our province.”

A total of 3,371 oil wells were drilled in 2013, the third best year ever for oil well drilling. This figure ranks behind only 2011 (3,528 oil wells) and 1997 (3,608 oil wells). The Lloydminster and Kindersley/Kerrobert areas accounted for almost two-thirds of all drilling in 2013.

Saskatchewan is ranked as the number one jurisdiction in Canada for oil and gas investment policies, according to The Fraser Institute’s annual Global Petroleum Survey. -30-

For more information, contact:

Deb Young, Economy
Regina
Phone: 306-787-6315
Email: deb.young@gov.sk.ca