The Conference Board of Canada released its Canadian Industrial Outlook: Canada’s Oil Extraction Industry – Summer 2010 report in which it stated that the upward trend of crude production and profits resulting from the revival in global demand and rising prices will allow oil companies in Canada more success this year and on into 2014. The Conference board estimated that crude prices will reach U.S.$117 in 2014 based on a prediction that global demand will steadily rise over the course of the next few years.
Increased activity in the coming winter season, compared to the past few years, is expected by geophysical contractors as a result of a variety of factors which include renewed investment interest in the oil sands and a continuing interest in shale gas. The majority of seismic jobs are found in Alberta, but some geophysical companies are now also doing work in Quebec, Nova Scotia and New Brunswick. Provided there is a reasonable freeze‐up, the busy season for seismic companies should begin around mid‐ December.