The organization representing Canada’s oil and gas drilling sector says it expects more activity in 2023, even as it continues to push the federal government for a new tax credit it says it needs to help the energy sector decarbonize.
At its state of the industry conference Wednesday, the Canadian Association of Energy Contractors (CAOEC) said it expects 6,409 wells to be drilled in Canada in 2023, an approximately 15 per cent increase from 2022.
Mark Scholz, the organization’s CEO, said the energy transition is also creating opportunity for drillers in areas such as helium, carbon capture utilization and storage, in-situ hydrogen, and mineral extraction from oilfield brines.
Helium One Global Ltd (LON:HE1) was founded in September 2015. The Company’s focus is to explore, develop, and ultimately, become a producer of high-grade helium for the international market, a critical material essential in modern technologies.