Wall pointed that while drilling forecasts were down for Canada over 2009, the reductions were minimal for Saskatchewan.

On Wednesday, February 4 2009, the Premiers of Saskatchewan and Alberta, Canada, spoke before a full roster of industry participants. The luncheon was held as part of the International Forum prior to full opening of NAPE 2009, which was held at the George R. Brown Convention Center in Houston, Texas.

The message was clear. Both Premiers called out to industry players that Canada is ripe for investment. Brad Wall, premier of Saskatchewan, Canada, announced that their trip to Texas was part of an outreach. “Saskatchewan accounts for 3% of Canada’s population, yet it supplies 33% of the country’s primary energy,” Wall said. Behind Alberta, Saskatchewan is the second largest producer of oil in Canada of which 77% (more than Kuwait) is exported to the U.S. The province holds 41.2 Bbbl of oil with 42% of that being recoverable.

Wall pointed that while drilling forecasts were down for Canada over 2009, the reductions were minimal for Saskatchewan. Sales of oil from the province accounted for $14 billion in revenue last year with an additional $4 billion added through foreign investment. He also pointed out that in addition to being a core component of the Bakken shale, there exists approximately 10,000 sq miles of oil sands potential awaiting development.

In reference to the oil sands, Premier Wall shifted his focus to achieving sustainability through the development of Saskatchewan’s reserves. Because Canada is the largest secure source of hydrocarbon resources providing to U.S. demand, Wall emphasized the need for greater collaboration between oil regions in Canada and the U.S. Wall discussed the need for further innovation and the desire of Canada’s residents to produce as much resources as possible while working to ensure environmental sustainability.

Wall’s speech was followed by Alberta, Canada’s Premier, Ed Stelmach. According to the Calgary Herald, this was Stelmach’s second trip to Texas in less than two months. He has reached out to promote free trade between Texas and Alberta. Stelmach announced Alberta’s plan to invest $22 billion in its infrastructure over the next three years. Stelmach also pointed out that Alberta currently has no debt, so this frees up the province to build more infrastructure including a natural gas hub to collect and deliver gas to areas in the U.S. and other parts of Canada.

Stelmach pointed out Alberta’s overall standing in the oil and gas industry, which provides the U.S. with 6.5% of its demand. Alberta contains 1.5 Bbbl of conventional oil reserves overall.

Both Premiers Wall and Stelmach expressed on their provinces behalf a sincere commitment to developing longstanding relationships with the U.S. and Texas.