Saskatchewan oil flow may top Alberta’s
The central Canadian province of Saskatchewan is poised to become the country’s top conventional oil producer, bumping Alberta into second place.
Speaking at a convention in Regina Monday, Saskatchewan Energy and Resources Minister Bill Boyd said oil production set a record of 161 million barrels last year as Alberta’s output fell 191.6 million barrels in 2007, the Regina Leader-Post reported.
Alberta production statistics aren’t scheduled to be released until June, officials said.
The positive trend-line for Saskatchewan (oil production) is increasing and Alberta is going in the other direction,” Boyd said. Our production is increasing and it’s great news for the province.”
The minister said Saskatchewan’s oil production was down in the first quarter of this year as producers are holding back because of lower prices.
Our budget estimated that we would be down a fair amount in terms of land sales and total revenues, he said. “But (it’s) still a pretty positive number in the overall scheme of things.”