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Just in time for the winter drilling season , the Alberta government is hoping to boost production by allowing new wells to be drilled. Effective Friday, the province said all producers can drill new conventional oil wells without being restricted by production limits, however existing producing wells will remain under curtailment. Energy Minister Sonya Savage said the move to increase drilling activity is aimed at drawing investment back to the province and supporting struggling communities. “Companies are currently making investment decisions, and we want those dollars and jobs to be in Alberta. We are doing everything we can to help,” Savage said in a statement. READ MORE: Western Canada oil and gas producer count down by nearly 300 names since 2014 The province said the move will provide flexibility for industry while aligning with the objective of curtailment — protecting the value of Alberta’s oil by maintaining a balance between production and takeaway capacity. Under the previous NDP government, Alberta put a cap on the amount of oil the industry could produce as a way to narrow price discounts that grew as oil production exceeded the ability of pipelines to get crude oil to market. The measure was continued […]
