The number of active oil and gas producing companies in Western Canada declined by nearly 17.5 percent between December 2014, when oil prices were already crashing, and December 2018, a new report from XI Technologies, a Calgary-based research company for the Western Canadian energy industry, showed. According to XI Technologies, the number of active oil and gas companies with reported production in the Western Canadian Sedimentary Basin (WCSB) dropped from 1,616 in December 2014 to 1,334 as at the end of December 2018—a drop of 282 companies.…
