The Canadian Association of Petroleum Producers is forecasting a 22 per cent increase in natural gas and oil investment this year. The expected growth would mark a second straight year of significant increases in investment.

In Saskatchewan specifically, CAPP says producers expect to invest $2.7-billion in the province, which is a 16 per cent increase over last year.
In 2021, the province’s upstream investment didn’t reach its forecast $2.8-billion, and instead hit the $2.3-billion mark. CAPP suggests increasing municipal costs in some rural jurisdictions significantly raised concerns, which likely contributed to a slowing of investment in the province.