Oil and Gas

This sector is wide ranging and comprises those engaged in the conventional oil and gas resource industry, as well as those in the extraction of oil sands resources. Equipment, services and technology employed in support of oil and gas extraction are also a major factor contributing to the regional economy.

The number of productive oil and gas wells in the LSLEA region has risen steadily over the past decade, driven largely by increasing activity in the MD of Opportunity. Province-wide, revenues for oil and gas technology and services increased 12% from 2011 to 2012, and the industry nearly tripled in size between 2002 and 2012.

In 2010, the LSLEA region accounted for 4.9% of the province's crude oil production and for 6.2% of the total number of wells drilled in Alberta.