An energy expert will share his thoughts next Monday on the American shale oil and gas boom, and how it’s impacting Canadian producers, service providers and investors.
Robert McAllister is president and CEO of Enertopia Corp. (CNSX: TOP), a Vancouver-based resource company that acquires and develops projects with industry partners.
He’s written business and investment articles on oil and gas and mining companies for various North American publications.
McAllister said his Red Deer presentation, which will run from 7:30 to 9 a.m. at the 2818 Gaetz Ave. Sandman Inn, will consider the surge in petroleum production in the United States. That trend has reduced the American appetite for Western Canadian energy products.
“We have to find an export market beside the U.S.,” said McAllister.
Canada’s natural gas sector has been particularly hard hit, with many reserves in places like Central Alberta no longer economical to produce.
“Even up until 2008, there was like 12,000 wells drilled in Western Canada for natural gas alone. That number today is under a thousand.”
The implications could be widespread, said McAllister, affecting not only oilpatch service companies but anyone who derives income from the energy sector.
“If the production continues to decline in Western Canada over the next several years, that’s going to impact everybody’s bottom line.”
McAllister said he will also talk about investment opportunities in the oil and gas industry, including through his company.
Anyone wishing to attend McAllister’s Aug. 12 presentation is asked to register by 3 p.m. on Friday by emailing mcallister@enertopia.com or calling 250-765-6412.
There is no cost to attend.