Industry Activity

Oil Wells Completed by Province

Oil well completions are concentrated in Western Canada, particularly Alberta and Saskatchewan, underscoring their strategic role in Canada’s energy landscape. Activity has fluctuated over time, with periods of growth and decline shaped by market conditions, including the 2008 financial crisis and the oil price downturn in the mid-2010s.

Wells Drilled by Province

Drilling activity is concentrated in Western Canada, led by Alberta and Saskatchewan. Levels declined after the mid-2010s oil price downturn and have yet to return to the highs of the early 2010s.

Gas Wells Completed by Province

Gas well completions are concentrated in Western Canada, with most occurring in Alberta and British Columbia. Completions increased during the 2000s shale boom, driven by advances in hydraulic fracturing. Activity declined after the 2008 financial crisis and has not returned to previous levels.

Leases & Licenses – Average Cost Per Hectare – Rest of Canada

Average land costs vary significantly by region, with offshore Newfoundland, offshore Nova Scotia, and frontier areas such as the Northwest Territories driving much of the variability. Periods of elevated costs reflect stronger interest and more competitive bidding for land tenure. Together, these trends highlight the role of investment confidence, resource potential, and market conditions in land acquisition activity.

An oil and gas land sale grants a lease for oil or gas mineral rights in a specific area. The lease covers mineral access only, not surface rights. Exploration and production companies typically hold leases for two to five years. These sales generate significant annual government revenue.

Leases & Licenses – Average Cost Per Hectare – Western Canada

Land costs vary significantly from year to year, with notable increases driven by higher activity in Alberta’s conventional and oil sands regions, as well as in British Columbia. This volatility reflects shifting market conditions, including the mid-2010s oil price downturn, competitive land sales, and global disruptions such as COVID-19 in 2020.

An oil and gas land sale grants a lease for oil or gas mineral rights in a specific area. The lease covers mineral access only, not surface rights. Exploration and production companies typically hold leases for two to five years. These sales generate significant annual government revenue.

Total Wells Drilled in Canada

Drilling activity rose steadily through the 1970s and 1980s, peaked in the early 2000s, and then declined before stabilizing at lower levels in recent years. These trends reflect changing market conditions, including the mid-2010s oil price downturn, competitive land sales, and global disruptions such as COVID-19 in 2020.