Petroleum Services Association of Canada

Petroleum Services Association of Canada

May 20, 2010 16:07 ET

Best Investment Opportunities in Canada's Oil and Gas Services Industry Will Be Offered Up at the Petroleum Services Investment Symposium in Calgary

CALGARY, ALBERTA--(Marketwire - May 20, 2010) - The Petroleum Services Association of Canada (PSAC) is hosting its 16th annual Petroleum Services Investment Symposium on June 17th and 18th in Calgary, AB, where senior officials from 25 publicly traded PSAC member companies will make presentations to the major players of the financial world. Buyside analysts, institutional investors, diversified fund managers, portfolio managers, and petroleum services industry sellside analysts are invited to attend.

On June 18th, the presentations are open to private investors at no charge. Visit www.psac.ca/psis/brochure.pdf for more information or to register.

The Symposium takes place at the Hyatt Regency in Calgary, where a series of individual 20-minute corporate presentations will be made, along with a "Q and A" opportunity. Presenting companies include Flint Energy Services Ltd., Calfrac Well Services Ltd., Precision Drilling Trust, Savanna Energy Services Corp., ShawCor Ltd., and Trican Well Service Ltd., to name a few. The two-day format gives publicly traded service sector companies the chance to share their growth plans with investors from across Canada and the United States.

This timely Symposium follows the release of the PSAC 2010 Canadian Drilling Activity Forecast second-quarter update, released April 29th, forecasting an increase in Canadian drilling activity levels. A total of 11,250 wells drilled (rig released) across Canada are being forecasted, representing a 35 per cent increase in total wells drilled as compared to the final tally for 2009 of 8,350 wells.

"This upward rise in drilling activity can be attributed to four main factors, including the development of shale and unconventional drilling, the increase in the price of oil, the anticipated royalty changes in Alberta, and the general boost in economic activity as we emerge from the global recession," said Roger Soucy, PSAC President. "Our symposium will be an excellent opportunity for companies to give a strong signal to the investment community that the oil and gas industry is back in business in Alberta, where almost 70 per cent of wells will be drilled and completed this year." He added, "There are dollars out there looking for investment opportunities. Service sector companies operating in the WCSB are offering some terrific upside."

The Petroleum Services Association of Canada is the national trade association representing the service, supply and manufacturing sectors within the upstream petroleum industry. PSAC represents a diverse range of over 250 member companies, employing more than 52,000 people and contracting almost exclusively to oil and gas exploration and production companies. PSAC member companies represent over 80 per cent of the business volume generated in the petroleum services industry.

Contact Information

  • Petroleum Services Association of Canada
    Holly Kerr
    Manager, Communications and Member Relations
    (403) 781-7388
    hkerr@psac.ca
    www.psac.ca