​Saskatchewan strong: Geology, regulations and tech help oil and gas industry weather downturn, position for growth

Saskatchewan strong: Geology, regulations and tech help oil and gas industry weather downturn, position for growth

By Carter Haydu, By Pat Roche

April 18, 2017, 3:06 p.m.

http://www.jwnenergy.com/article/2017/4/saskatchewan-strong-right-geology-regulations-and-tech-help-oil-and-gas-industry-weather-downturn-and-position-growth/

straw bail

Image: Joey Podlubny/JWN

The western Canadian oil and gas industry has taken it on the chin since global oil prices collapsed in late 2014.

Capital spending on conventional oil and gas development fell from a peak of $43 billion in 2014 to $21 billion in 2016. The well count has followed a similar decline, from 11,226 wells rig released in 2014 to 3,562 wells in 2016.

While Saskatchewan was hit hard by the decline in investment and activity, it fared a little better than its neighbour to the west. The well count declined by around 70 per cent in Alberta from 2014 to 2017, while Saskatchewan saw a decline of 55 per cent.

There are a number of reasons for Saskatchewan faring better than Alberta as prices dropped from highs of around US$100/bbl in 2014 to lows of $26/bbl in early to 2015 before recovering to jump around $50/bbl as 2017 began to unfold.

The first is geology, according to industry analysts at Scotia Waterous. A study by the investment house released in late 2016 shows six Saskatchewan oil plays are in the top 10 in Canada and the U.S. when ranked by profit/investment ratio.

When Scotia Waterous compared 55 U.S. and Canadian oil plays, Frobisher-Alida oil ranked second by profit/investment ratio and the Ratcliffe Play ranked third.

Viewfield Bakken oil, Upper Shaunavon oil and Viking oil ranked sixth, seventh and eighth, respectively.

Border Midale oil had the 10th best profit/investment ratio of the 55 plays.

All six plays break-even at a WTI oil price of US$40/bbl and some break-even at US$35, says Patricia Mroch, associate director with Scotia Waterous in Calgary.

The low break-evens are also among the best in North America, as are the payback periods, Mroch told a Canadian Society for Unconventional Resources (CSUR) Saskatchewan conference.

All of these plays are relatively shallow and cheap to drill compared to some of the deep shale plays, Mroch told the Calgary conference. She noted that it obviously helps that all six are oil plays.

The two top-ranking Saskatchewan oil plays on the list—the Frobisher and the Ratcliffe—are conventional Mississippian plays that don’t require fracture stimulation, Mroch said. “So they’re high quality. You have enough permeability and porosity that fracturing them actually doesn’t benefit you.”

In her presentation, Mroch noted Mississippian activity last year was strong across the entire trend in southeastern Saskatchewan—indicative of favourable economics even at oil prices below US$50/bbl.

She noted production from the Mississippian wells is stable with “very low” declines.

All six plays are being drilled horizontally, but fracturing is occurring as operators move into tighter parts of plays such as the Midale, Mroch said.

Scotia Waterous reported activity has been “very strong” in the Bakken-Torquay Field with Crescent Point responsible for about 85 per cent of 2015 wells and about 95 per cent of 2016 wells.

Bakken production has declined with reduced spending in the past 18 months while the smaller Torquay tight oil play has been growing as the economics are slightly stronger, according to Scotia Waterous.

“The reason people are still drilling in Saskatchewan is because those plays are still economic, and because it’s a stable environment politically,” Mroch said.

“People aren’t worried about the royalty regime changing like it has in Alberta. And in Alberta there are new carbon levies coming in. So there is some concern about how that’s going to affect the Alberta economics.”

Merger and acquisition activity has been strong in Saskatchewan compared to the rest of Canada, indicating the province is attractive to investors, she said.

Along with being cheap to drill, these plays can also be profitably produced at low oil prices.

 

 

 

Why oilsands work in low-carbon transition

Why Suncor Energy sees the oilsands as a strategic asset in the low-carbon transition

By Deborah Jaremko

April 17, 2017, 6:06 p.m.

http://www.jwnenergy.com/article/2017/4/why-suncor-sees-oilsands-strategic-asset-low-carbon-transition/

suncor ceo

Suncor Energy CEO Steve Williams. Image: Suncor Energy

Suncor Energy does not feel threatened by the world’s shift to lower-carbon energy resources.

In fact, the company sees its dominating position in the oilsands—a higher carbon source than conventional crudes—as a strategic advantage for its business through this decades-long transition.

This view is supported by expectations for continuing growing global energy demand, a massive, long-life resource base and the ability for technology to dramatically improve efficiency, Suncor says in its first-ever stand-alone report [download here] on climate released this week.

The report is in response to a shareholder resolution passed at the company’s 2016 annual general meeting.

Last year Suncor also added carbon risk as a principal consideration in its investment decision making process.

Leadership is needed to unify a global vision of an energy future that is progressive, yet practical, notes CEO Steve Williams in the report.

“We do not see a picture of doom and gloom for our industry. We do believe that oil demand will likely start to peak within 20-30 years at a level that is higher than today and although demand will decline thereafter, we expect oil will still be needed for decades,” Williams says.

“However, we do test our business strategy under a scenario where policy and technology cause oil demand destruction sooner and still see Suncor continuing to deliver value to shareholders.”

Suncor tests its oilsands and business growth strategy against three long-term energy scenarios, the company says, from one where fossil fuels remain dominant to another where rapid technological and societal change transforms the energy landscape.

“Under each of these scenarios, including our most aggressive decline in oil demand, we believe a substantial amount of oil will be required for decades. Meeting that demand at either low, or highly volatile, oil prices will be a challenge,” the report says.

Here’s an excerpt that describes the company’s position.

“In this environment, operators with short life reserves will find it increasingly difficult to finance exploration and development programs to replace declines, let alone grow production. The more commercially successful alternative energy sources become, the more capital they will draw from traditional energy markets, and the less likely we are to see substantial new crude oil supply come to market.

“While often characterized as being the oil basin most vulnerable to a low oil demand scenario, the very long operating life and low decline rate of our assets are, paradoxically, a major advantage under a scenario of either declining demand for crude oil and a correspondingly lower oil price, or an extended period of uncertainty and volatility in investment and commodity markets.

“Our long term reserve base presents minimal finding and exploration costs or risk. The nature of the resource requires high upfront capital investment to develop a project, but once the initial infrastructure is in place, the reservoir can be incrementally developed over a long period of time, without exploration risk, or the high capital requirements of a new project.

“Oilsands facilities are more comparable to manufacturing operations. Once operating, they are built to last 40+ years with a steady output. Production does not rapidly peak and decline, so each new incremental expansion results in production growth.

“Once high upfront capital costs are depreciated, a facility can continue to operate for potentially another 30 years with low operating costs and sustaining capital requirements only.

“Over the next 10 years, we believe technology will deliver the advances to make oilsands crudes both a low cost and a low carbon source of crude. The unique characteristic of the oilsands resource positions us to continue to deliver substantial value for shareholders under each of these scenarios.”

 

 

 

Western Potash announces plans to move ahead on Milestone Project?

Western Potash announces plans to move ahead on Milestone Project

ASHLEY ROBINSON, REGINA LEADER-POST

Published on: April 16, 2017 | Last Updated: April 16, 2017 12:48 PM CST

 Western potash 1

The proposed design for the 146,000 tonne per year Western Potash pilot plant at Milestone. MILESTONE POTASH CORP. 

 

The Rural Municipality of Lajord isn’t holding its breath when it comes to the Western Potash project at Milestone.

“(Western Potash) told us eight years ago they’re going to be (building it) so thats the bottom- line. I can’t get excited anymore, when we see things move ahead then we’ll start getting excited,” said Erwin Beitel, reeve of RM of Lajord.

The long-delayed potash mine is once again slated to move forward. On Tuesday, Western Potash held an open house in Kronau — one of many held over the years.

The project was first proposed in 2009, with an original plan to produce 2.8 million tonnes of potash per year. At the time potash prices were US$400 per tonne, but then the economy dipped and potash prices fell, causing the project to be delayed.

“Rather than shove all our plans, we went back to the drawing board and came up with an innovative solution mine which uses a different technique. The advantages are it uses half the water and a lot less energy,” said Matthew Wood, senior vice president of projects for Western Potash – Milestone Project.

Western potash 2

The proposed design for the 146,000 tonne per year Western Potash pilot plant at Milestone. MILESTONE POTASH CORP. 

Western Potash is easing into the new design by first building a pilot plant that will be about five per cent of the size of the original plant and produce 146,000 tonnes of potash per year. The new technology also doesn’t include an above ground tailings pond which Beitel is pleased with.

“As far as the RM is concerned, its good for us because I don’t like to see salt on top of the ground,” he said.

The technology has been used before in Europe and the United States, but this is the first time it will be used in Canada.

“Saskatchewan rocks are very unique, so there’s a little bit of a risk trying this technology in a new environment and thats really what the pilot plan is about, discovering how this technology works in Saskatchewan,” Wood said.

Western Potash plans to collect data from the plant during the first year it is running and from there start planning to build a larger plant within the next decade.

The plan is to break ground on the pilot project, located about five miles south of Kronau, by the end of the year or start of next. Construction will take 12 to 18 months, with production expected to start in 2019.

The plant is expected to create up 150 construction jobs and 20 to 30 permanent jobs once it opens. It is believed it will bring $300 million of direct and indirect benefits to the economy.

Potash prices are beginning to rebound and are now sitting at US$215 per tonne.

 

 

Potash producer Belaruskali to make new kind of fertilizer — report

Potash producer Belaruskali to make new kind of fertilizer — report

Cecilia Jamasmie

Mining.com

April 14, 2017

Belaruskali

While potash prices have been fairly stable this year, they remain weak and could stay this way for years due to a current oversupply likely to get worse with the planned opening of new mines.(Image courtesy of Belarusian Potash Company (BPC), the trading division of Belaruskali )

 

Belarus’ state-owned fertilizer group Belaruskali plans to make a new kind of crops nutrient in partnership with Chinese companies in an effort to diversify its portfolio.

According to Belaruskali’s director general, Ivan Golovaty, the company is also mulling a number of investment options involving a Chinese chemical company, the country’s news agency Belta reported.

Those projects include the formation of a new firm focused on the making of fertilizers by using Chinese technologies, the article said.

Potash prices, while relatively stable so far this year, remain weak due to oversupply, declining farm incomes and weak demand from India and China.

More competition, either in terms of new fertilizers or more mines, is not exactly what the potash market needs these days. Global prices, while relatively stable so far this year, remain weak due to oversupply, declining farm incomes and weak demand from India and China.

Those factors haven’t stopped companies for moving ahead with plans to open new mines. German K+S AG (FRA:SDF) is expected to open its Legacy project in Saskatchewan, Canada, before the end of the second quarter this year, while the Garlyk mining and processing factory in Turkmenistan began operations last month.

Russia’s EuroChem, in turn, is building two mines in Russia, and Sirius Minerals (LON:SXX) is moving ahead with construction of its vast mine beneath a U.K. national park. The York project is set to start producing in 2018, initially generating 10 million tonnes per year of polyhalite – a form of potash that is used in plant fertilizers –, before it enters a second phase that will double that production to 20 million tonnes a year.

 

 

 

Wall insists cities use ‘small’ portion of reserves; Regina has approximately $236M, Saskatoon has $141M

Sask. premier insists cities use reserve funds to account for budget shortfalls

Wall insists cities use ‘small’ portion of reserves; Regina has approximately $236M, Saskatoon has $141M

CBC News Posted: Apr 12, 2017 6:00 AM CT Last Updated: Apr 12, 2017 6:00 AM CT

wall cbc

Premier Brad Wall says Regina and Saskatoon should dip into reserve funds to address budget shortfalls. (Mike Zartler/CBC)

Saskatoon city manager Murray Totland has likened dipping into municipal reserves to cover a funding shortfall to dipping into an RRSP to buy groceries.

But Premier Brad Wall disagrees.

Speaking to reporters after question period on Tuesday, Wall suggested the cities dip into their reserves to help cover their budget shortfalls — an idea that’s already been rejected by both cities.

Regina and Saskatoon are dealing with multi-million dollar funding crunches due to the province scrapping its grants-in-lieu program. Regina is facing a $10.3 million budget deficit, while Saskatoon is facing a $9 million shortfall.

The grants-in-lieu program, which was cut in the most recent provincial budget, saw the Crown corporations SaskPower and SaskEnergy transfer payments to municipalities.

The premier cited municipal budget documents, and the wording used to describe funding reserves, to bolster his argument on Tuesday.

“It talks about operating deficits,” Wall added.

Regina currently has $236 million in its reserve while Saskatoon has $141 million, according to numbers provided by the provincial government.

“The bottom line is [the two cities] are very healthy right now,” Wall said.

The premier also referenced comments made by Regina Mayor Michael Fougere in 2003 when he was a councillor, in which Wall claims Fougere suggested using reserve funding to mitigate a tax hike.

He also noted reserve funding in Saskatoon and Regina has more than doubled since 2007, in part due to revenue sharing.

Regina received $15.7 million in revenue sharing that year, while they’ll receive $40.5 million this year. Saskatoon received $17.8 million in 2007 and is in line to receive $46 million in revenue sharing this year.

“There is no reason the two cities cannot absorb this grant-in-lieu increase without taxes by controlling spending and using a small portion of their reserves,” a government spokesperson said in an email.

 

 

 

Saskatchewan Oil Drilling Numbers Double in First Quarter

Oil Drilling Numbers Double in First Quarter

Released on April 10, 2017

Saskatchewan’s petroleum industry is showing signs of a positive start for 2017 after results for drilling activity during the first three months of the year were more than double the figures of 2016.

sk oil drilling april 2017

“An increase of more than 450 wells drilled is an optimistic indicator for our oil industry and, by extension, Saskatchewan’s economic outlook for the year ahead,” Energy and Resources Minister Dustin Duncan said.

The number of wells drilled in the province from January to the end of March was 856, compared to 399 wells drilled during the same period in 2016.

“Continued oil field activity at this pace is encouraging news,” Duncan said.  “It contributes positively to communities throughout our province and is part of our economic growth.”

Saskatchewan’s oil and gas industry is responsible for an estimated 15 per cent of the province’s gross domestic product.  A total of 1,648 oil wells were drilled in Saskatchewan in 2016, which was down 10 per cent from 1,831 oil wells drilled in 2015.

-30-

For more information, contact:

Deb Young
Economy
Regina
Phone: 306-787-4765
Email: deb.young@gov.sk.ca

 

 

Brad Wall is Justin Trudeau’s secret weapon in Washington

 

Brad Wall is Justin Trudeau’s secret weapon in Washington

ADRIAN MORROW

WASHINGTON — The Globe and Mail

Published Thursday, Apr. 06, 2017 8:00PM EDT

Last updated Friday, Apr. 07, 2017 11:08AM EDT

wall

In Canada, Brad Wall is a thorn in Justin Trudeau’s side, threatening to take the federal government to court over its plan to bring in a carbon tax. But in Washington, the Saskatchewan Premier is the Prime Minister’s secret weapon.

Mr. Wall spent four days in the U.S. capital this week as part of Canada’s full-court press to head off U.S. President Donald Trump’s promised turn to economic nationalism – and his conservative bona fides were a key part of his pitch to the right-wing administration and its congressional allies.

For a subnational leader, he gained impressive access, landing sit-downs with such heavy hitters as Commerce Secretary Wilbur Ross, Mr. Trump’s point-man on the North American free-trade agreement, Energy Secretary Rick Perry, White House budget chief Mick Mulvaney and Environmental Protection Agency head Scott Pruitt.

In an interview in the lobby of his hotel between meetings, Mr. Wall chuckled when asked if it’s awkward to serve as international emissary for a man he’s planning to sue.

“No, it really isn’t. I think that it’s very important to separate those issues – especially for something as important as this,” he said.

Mr. Wall said he called up Mr. Trudeau and volunteered his services. Shortly after, the Prime Minister asked him to go to Iowa – a crucial U.S. swing state with strong trading links to Saskatchewan – to meet with Governor Terry Branstad and address the legislature. Then came the Washington trip.

It’s all part of a wide-ranging lobbying effort by Canada to impress upon the United States that protectionist measures would hurt both countries. At least a dozen federal cabinet ministers are fanning out to 11 U.S. states, and Alberta Premier Rachel Notley also visited Washington in February.

“He’s got a very focused and clear plan for engagement at all points of contact. He said to me ‘I need the premiers to engage at the subnational level, with states, and reach out,’” Mr. Wall said. “The federal government has a multifaceted approach in terms of contact but a pretty focused one in terms of message.”

Talks on renegotiating the North American free-trade agreement have not yet begun, due to delays in the Trump administration giving Congress 90 days’ notice before the start of negotiations and Senate Democrats stalling the confirmation of Mr. Trump’s nominee for U.S. trade representative, Robert Lighthizer.

Mr. Wall mostly arranged his meetings in Washington through David Wilkins, a former U.S. ambassador to Canada and Republican politician. Nelson Mullins, the lobbying firm for which Mr. Wilkins works, is on contract with the Saskatchewan government to represent the province’s interests in the United States.

One Republican insider said Mr. Wall’s reputation as a right-wing stalwart helped him open doors in Washington. The Saskatchewan Premier is already known to many conservatives inside the Beltway, said the source, pointing out that Senator Lindsey Graham and Congressman Tom Rice have previously visited Saskatchewan.

And the Premier put a distinctly free-enterprise twist on his pitch. In a speech Wednesday to the conservative Heritage Foundation, Mr. Wall floated the possibility of Canada loosening its system of supply management on milk, eggs and poultry in exchange for the United States swearing off a border adjustment tax and Buy American provisions on infrastructure procurement.

“My wife and I, we’re lucky to have a place in Arizona, together with my folks, so we get down there a little bit, and I catch myself staring longingly at the price of cheese at the local Fry’s. It’s 25 per cent, sometimes, of what we pay at home,” he said.

He also played to his reputation as a champion of the oil industry, suggesting Canada is a better bet to supply oil to the United States than OPEC: “I happen to think the world would rather buy oil from countries that are free and democratic, who respect the rule of law and might be a few centuries removed from public beheadings.”

Mr. Wall admitted to some bafflement that ostensible conservatives around Mr. Trump are turning to a policy of closed borders. Bringing in immigrants, for instance, has been a key part of his province’s economic growth over the last decade.

“A robust immigration policy and a free-trade policy, to me, are synonymous with free enterprise politics and conservative politics,” he said in the interview. “It’s surprising that that seems to be changing for some.”

But if the Premier’s views on such topics are sharply different from those of Trump administration, they also represent a broader Canadian consensus.

At the Heritage Foundation event, diplomat Colin Bird pointed out that the NAFTA psychodrama playing out in the United States today was settled in Canada in the 1980s.

“I have never seen such unanimity in belief in the power of trade as a force for prosperity for Canada as we have now. It is no longer a partisan issue,” said Mr. Bird, minister-counsellor for trade at Canada’s embassy in Washington.

Bryan Riley of the Heritage Foundation said Canada’s progress cutting tariffs, particularly on inputs used by manufacturers, has outpaced the United States’: “Canada actually ranks ahead of the United States in … economic freedom,” he said.

It’s a case a conservative like Mr. Wall is uniquely positioned to make. But he was careful not to raise expectations he could break through to the administration: Asked if he hoped to be Mr. Trudeau’s “Trump whisperer,” Mr. Wall laughed.

“There are things about what’s going on here that are hard for anyone to understand – regardless of where they are on the spectrum,” he said.

 

Potash seller Canpotex aims for ‘material’ price bump from China

Mon Apr 10, 2017

6:10pm EDT

REUTERS

ROD NICKEL

 

Potash seller Canpotex aims for ‘material’ price bump from China

canpotex

FILE PHOTO: A Canpotex rail car waits to be loaded with potash at the Rocanville Potash Corp mine in Saskatchewan September 30, 2010. REUTERS/David Stobbe

Canadian potash exporter Canpotex Ltd is pressing Chinese buyers to pay a “material” price increase for the fertilizer in their annual supply contract, as spot values in other markets rise off multi-year lows, Canpotex’s chief executive said on Monday.

“We’re not interested in some kind of ratcheting down. That is for sure,” CEO Ken Seitz told Reuters in a telephone interview from Saskatoon, Saskatchewan, where Canpotex, owned by miners Potash Corp of Saskatchewan Inc, Mosaic Co and Agrium Inc, is based.

Global potash prices remain weak due to excessive capacity and sagging farm incomes but a modest price rebound since late last year and lower year-over-year Chinese potash inventories suggest buyers there should pay more, Seitz said.

Canpotex sells potash produced by the companies in the province of Saskatchewan to offshore markets.

“If you look at the global market compared to a year ago, it’s much improved,” said Seitz, a former uranium mining executive. The price gains and supply cuts by some producers “allow us to have an expectation for a material price increase in China,” he said.

He declined to clarify what price increase Canpotex is seeking.

In an April 4 note, BMO analyst Joel Jackson factored in $5 per tonne price increases from Chinese and Indian buyers, to $224 and $232 per tonne respectively.

Those prices would fall “well below” Canpotex’s expectations, Seitz said, but he added that ultimately the price is set by rivals who agree to terms first with Chinese purchasers Sinofert Holdings Ltd and CNAMPGC.

Contracts with China by global suppliers Canpotex, Belaruskali and Uralkali usually set a global price floor.

Canpotex, whose owners account for about one-third of global potash sales, is not prepared to cede market share to rivals starting new mines, Seitz said.

German’s K+S AG will open a Saskatchewan mine this year, while EuroChem is building two Russian mines. Turkmenistan opened a potash plant last month.

Canpotex companies Potash and Mosaic meanwhile have made production cuts even as they expand their biggest mines.

“We believe we can maintain our market share and not have to sacrifice a bunch of price,” Seitz said, noting that some competitors have higher costs.

(Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by James Dalgleish)

 

 

 

Gensource Potash teams up with Indian conglomerate to build new mine in Saskatchewan

Potash junior teams up with Indian conglomerate to build new mine in Saskatchewan

Plan is to circumvent supply chains dominated by the likes of PotashCorp

Andrew Topf

Mining.com

April 10, 2017

 

Potash in India

Image: Sarath Kuchi

It’s no secret that building a potash mine to compete with the big companies is no small feat in Saskatchewan, where nine potash mines have been operating in the western Canadian province for the last 40 years. But success could come via some outside-the-box thinking from Gensource Potash Corp., (TSXV:GSP) which last week inked a joint venture with Essel Group ME Ltd., (EGME), an Indian conglomerate.

In a deal announced April 5, Gensource, whose most advanced project is the Vanguard property in central Saskatchewan, has formed a new company with EGME called Vanguard Potash Corp, which is the corporate entity they plan to use to develop a small 250,000 tonnes per annum potash mine.

The agreement builds on a memorandum of understanding published by the two companies last November.

“This is the most significant milestone for Gensource to date,” Gensource president and CEO Mike Ferguson said in a statement. Ferguson helped develop the K+S Potash Canada’s Legacy project, which K+S Potash Canada and partner Amec Foster Wheeler — in charge of the project design and management — hope to start production by end of June, with an expected output of 2 million tonnes per year once at full capacity.

Under terms of the joint venture, Gensource will give Vanguard a 49% stake in the mineral lease, while EGME agreed to spend up to US$205 million in order to earn a 70% stake in the operation, which is expected to cost $200 million. The first $5 million will be put towards a feasibility study, which Gensource says it started in October 2016. The plan is to build out the mine in phases, eventually reaching a million tonnes per year.

It would be mined using the solution method, where wells are sunk into the deposit, and a heated brine solution is injected to dissolve the potash salts. The dissolved salts are then pumped to the surface, where the water is evaporated, leaving potash and salts behind.

According to the Saskatoon StarPhoenix, Gensource’s business model is to sell its potash product directly to farmers and farmer groups, thus avoiding competing with large companies like PotashCorp (NYSE:POT) “which have better supply chains and the ability to soak up costs in a weak market.”

Canadian potash is currently marketed and sold through Canpotex, which is the world’s largest exporter of potash.

Gensource plans to commission the mine in 2018, with first production by the end of that year, or the first quarter of 2019.

 

 

 

Saskatchewan Sees 2,000 Jobs Created in March

2,000 JOBS CREATED IN MARCH

Released on April 7, 2017

There were 2,000 jobs created in March 2017 in Saskatchewan when compared with March 2016.

“Saskatchewan’s economy is strong and resilient and the job numbers today are an encouraging sign,” Economy Minister Jeremy Harrison said.  “March was the second consecutive month with year-over-year job creation.  This news combined with recent announcements including Brandt Manufacturing’s expansion to Saskatoon, G3’s new grain elevators, and Grain Millers expanding its plant in Yorkton, are signs that our economy is moving forward.”

The seasonally adjusted unemployment rate was 6.0 per cent in March, third lowest among the provinces, unchanged from February and down 0.2 percentage points from last March.  Nationally, the unemployment rate was 6.7 per cent.

Other March 2017 highlights include:

  • Major year-over-year gains were reported for trade up 6,900; professional, scientific and technical services up 6,000; manufacturing up 3,700.
  • Full-time employment was up 6,000 while part-time employment decreased 4,100.
  • Regina’s employment was up 4,300 and Saskatoon was up 1,100.
  • Off-reserve Aboriginal employment was up 4,100 (9.4 per cent) for nine consecutive months of year-over-year increases.
  • Youth unemployment rate was 10.8 per cent (seasonally adjusted), third lowest among the provinces and below the national rate of 12.8 per cent.

-30-

For more information, contact:

Deb Young
Economy
Regina
Phone: 306-787-4765
Email: deb.young@gov.sk.ca

 

 

 

%d bloggers like this: