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Oil and Gas Extraction
2004
Highlights
- The value of marketable production from crude oil, natural gas and natural
gas liquids rose 11.5% during the year, from a total of $76.5 billion
in 2003 to a new high of $85.3 billion in 2004.
- After rising by a record 36% last year, total well completions
in 2004 were 24,874, up 6.5%.
- Capital expenditures in the conventional sector rose by 12.6% in 2004 to
reach $26.8 billion, reflecting generally higher prices for all
commodities.
- In Canada's oil sands region, the continuing development of non-conventional
resources, through in-situ, mining and upgraders, increased overall capital
expenditures by 25% to $6.2 billion, after a drop to $5.0 billion
in 2003.
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