Saskatchewan oil industry looks to be rapidly expanding

The Third Annual Saskatchewan Oil and Gas Forum is in Regina and it believes our province's future is looking up, if you go underground.

Quinton Hardage, President and CEO of Admiralty Oils Ltd., a budding oil company based out of Saskatoon, is one of the speakers.

He said our oil industry is rapidly expanding.

“We're starting to see a lot of rigs move over from Alberta and B.C. into Saskatchewan. It just highlights how large and how significant Saskatchewan oil production is and could be in the future,” he said. “I see Saskatchewan as Alberta 25, 30 years ago.”

Hardage expected that there will be about 3,000 new oil wells drilled in the province this year. He says traditionally, drillling has been focused around our borders.

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“The reason that things tend to creep in from the edges of provinces is because they have it defined in other terroritories and states. So, it's lower risk to kind of move across the border than going and punching a hole in the middle of nowhere.”

But, he said that will start to change as oil drilling moves into central Saskatchewan.

Hardage pointed to stable political, environmental and royalty structures as advantages to drilling here.

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