Paul Martin's Business Update - June 11th, 2014

Paul Martin's Business Update - June 11th, 2014

Commentators who have been tracking activity in the oil patch have begun talking up some recent developments in southeast Saskatchewan.

Now, we have been a big driver in the petroleum sector for the bulk of the last decade as activity in the Bakken Play caught the attention of investors and producers alike. Bakken is part of the Williston Basin which includes the Weyburn-Midale oil fields. And recently a further play has developed called Torquay.

Basically, it is all in the same field but it is another strata. Deeper formations were first explored in North Dakota and now it is gaining momentum here. Most recently, Crescent Point which is the biggest player in the field announced some solid results from Torquay and then bought another company in a billion dollar deal to consolidate its hold on the region.

These deeper wells are not only prolific producers they have staying power, according to the industry which is deploying new techniques to improve their recovery rates and it has also expanded the footprint of the patch across much of southern Saskatchewan.