Billions coming to Sask. in oil patch investment
Sakatchewan’s oil patch is going to see a multi-billion dollar investment.
Raging River Exploration announced Monday, June 6 it will inject $3 billion over the next decade into drilling and enhanced oil recovery projects in the Kindersley area, along with $1 billion worth of continuous operations.
“I don’t think it’s ambitious at all, but really realistic,” Neil Roszell, the company’s president and CEO, said.
He estimated anywhere between 2,500 and 3,000 new wells will be drilled in the next 10 years. In 2016, more than 200 wells are expected to be drilled, part of $175 million worth of capital spending by the company.