New conventional oil wells won’t be restricted by production limits.
The Government of Alberta announced on Friday producers can drill the new wells without being restricted by the curtailment that’s in effect across the province.
The production limit was introduced by the previous provincial government, and kept by the current GoA, as a way to combat storage issues.
The province says this measure will drive positive investment, increase drilling activating, while also supporting economic growth.
“Companies are currently making investment decisions and we want those dollars and jobs to be in Alberta,” said Sonya Savage, Minister of Energy, in a release. “We are doing everything we can to help.”
According to the Canadian Association of Oilwell Drilling Contractors, each working drilling rig supports around 145 direct and indirect jobs.
Meanwhile, existing wells will continue to fall under the curtailment.
