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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: Think4Yourself who wrote (72587)9/7/2000 5:39:26 PM
From: BigBull   of 95453
 
Canada, Pipelines and NG:

canoe.ca

J.C. Anderson, chairman of Anderson Exploration Ltd. (AXL.TO), one of Canada's biggest gas producers, said companies have spent the last few years drilling more wells to produce less gas while draining the least expensive prospects.

This is illustrated by data from Alberta's main pipeline network that show a steady drop in the growth rate of receipts on the system from 1996 to 1999, despite an 85-percent increase in the number of well completions over the same time.

"Before the industry can increase its production, it's got to make up for the decline and we're not doing that," Anderson said. "We've been responding for years, but all the easy stuff has been done. Now what the industry has to do is go out and find new stuff -- you've got to do it the old-fashioned way."
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