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Oil and Gas Extraction
2002
Highlights
- The value of marketable production from crude oil, natural gas and natural
gas liquids declined by 8.6 % during the year, from a total of $63.1 billion
recorded in 2001, to $57.7 billion in 2002.
- Although the year 2001 noted a record 19,752 well
completions in Canada, total well completions in 2002 fell by 13.0 %
to 17,182 wells.
- Capital expenditures in the conventional sector decreased 17.5%
to $18.0 billion, reflecting generally lower prices for natural
gas during the year.
- In Canada’s oil sands region, the continuing development of non-conventional
resources, through in-situ, mining and upgraders, recorded an increase in
overall capital expenditures of 14.3 %, from $5.9 billion
in 2001, to $6.8 billion in 2002.
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