Canadian E&P striving for economic recovery ///

As it has happened so many times in the past, one year has changed everything for the Canadian oil industry. Oil prices have crashed with no recovery in sight, and the pipeline access issue hasn’t improved. Alberta’s political landscape has shifted dramatically, and a looming federal election clouds the horizon. In response to the prolonged oil slump, and the accompanying negative effect on their results, operators have slashed spending, postponed large-scale projects and laid off staff. The reduced spending has manifested itself in other ways, namely drilling levels and land sale revenues for provincial governments.

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