Bellatrix Exploration Ltd. won’t decide on its capital budget for the rest of the year until mid-June, but after a second-quarter drilling hiatus, expects to resume activity targeting natural gas in the profitable Spirit River play during the fourth quarter, when prices improve.
May 19, 2016, 11:08 AM MDT
The current downturn in oil and gas activity won’t last forever, but there are practices industry can adopt to survive now and thrive once it’s over, an industry meeting heard.
May 18, 2016, 11:47 AM MDT
Returning threat of wildfire prompted the evacuation of about 8,000 people housed in camps north of Fort McMurray last night, thwarting oilsands producers’ plans to restart production.
May 17, 2016, 11:09 AM MDT
While many companies are coping with the energy industry slump by downsizing and eliminating or cutting their dividends, Pembina Pipeline Corporation is expanding and it continues to raise its dividend, the company’s annual general meeting heard on Thursday.
May 13, 2016, 10:49 AM MDT
Having the people to staff its operations, the rigs that are ready, operations where capital will be deployed for drilling and the money for growth, Precision Drilling Corporation says it is prepared for a rebound.
May 12, 2016, 8:24 AM MDT
The number of competitors in the North American pressure pumping industry is decreasing through both bankruptcies and consolidation while the supply of horsepower is shrinking as a result of cannibalization of equipment, lack of repair and maintenance, and fleet retirements, according to Calfrac Well Services Ltd.
May 11, 2016, 9:14 AM MDT
Like everyone else in the industry, Trican Well Service Ltd. has strived to cut costs throughout the current downturn, but it has had the added burden of reducing a heavy debt — much of it incurred because of a regrettable investment during better times.
May 6, 2016, 8:39 AM MDT
Pembina Pipeline Corporation’s assets closest to the vicious Fort McMurray fire that erupted this week, (DOB, May 4, 2016), are currently 15 kilometres away from harm and are protected in various ways, said the company during a conference call held to discuss its “solid” first quarter 2016 results.
May 6, 2016, 11:37 AM MDT
Trican Well Service Ltd. says it expects to significantly reduce costs in almost all areas such as products and chemicals, repairs and maintenance, personnel and base closures to match its cost structure with expected revenue.
May 5, 2016, 10:32 AM MDT
With the worst over for crude oil prices and natural gas prices the lowest they will get, the market is starting to rebalance itself, says a Calgary-based commodities analyst.
May 4, 2016, 6 AM MDT
Devon Energy Corporation’s net oil production in Canada averaged 126,000 bbls per day in the first quarter — a 22 per cent increase from the first quarter of 2015 — thanks mostly to growth at the Jackfish in situ oilsands complex.
May 4, 2016, 11:21 AM MDT
Imperial Oil Limited has no intention of yielding operatorship of the Syncrude oilsands mine to Suncor Energy Inc. now that the latter has purchased an even larger stake in the project.
May 2, 2016, 11:14 AM MDT
As ominous as yesterday’s Petroleum Services Association of Canada’s (PSAC) forecast was — for 36 per cent fewer wells to be drilled in Canada this year than originally estimated, (DOB, April 28, 2016), things could get worse yet, reporters heard following the announcement.
April 29, 2016, 7:33 AM MDT
Cost reductions and increased efficiency have put Cenovus Energy Inc. in a strong financial position despite tough times, the company’s annual meeting heard yesterday, after it reported first quarter results that saw cash flow take a nose dive (DOB, April 27, 2016).
April 28, 2016, 10:38 AM MDT
Cenovus Energy Inc.’s total cash flow plunged 95 per cent to $26 million in the first quarter of 2016 and oil production dipped nine per cent to 197,551 bbls per day while operating costs improved and hedging helped the financial picture.
April 27, 2016, 11:18 AM MDT
Armed with a fully funded capital expenditure budget of about $600 million, AltaGas Ltd. expects to deliver up to 15 per cent improvement in funds from operations and 20 per cent growth in EBITDA in 2016 compared to last year.
April 21, 2016, 11:39 AM MDT
Oil and gas companies with operations in northeast British Columbia are keeping a wary eye on forest fires in the area while one company, Progress Energy Canada Ltd., which operates in the North Montney, has evacuated the fire zone.
April 20, 2016, 10:05 AM MDT
Brion Energy Corporation says the first phase of its McKay River Commercial Project (MRCP) is “very near mechanical completion” with the goal of a fall startup, pending a go-ahead from its shareholder in Beijing.
April 18, 2016, 10:33 AM MDT
The downturn in Alberta’s oil and gas industry is expected to result in record transactions for used equipment at an upcoming sale.
April 14, 2016, 10:47 AM MDT
Faced with a price collapse thanks to the tsunami of United States shale gas, Canadian natural gas producers are cutting spending plans, hedging, shutting in wells, improving efficiencies, laying off workers and hoping a liquefied natural gas (LNG) industry will come to the rescue.
April 5, 2016, 11:33 AM MDT
Cenovus Energy Inc. is laying off another 440 people across its operations, for a 31 per cent total workforce reduction since 2014.
April 1, 2016, 8:53 AM MDT
Perpetual Energy Inc.’s decision to swap some property last year was difficult but it provided increased flexibility, its recapitalization (DOB, Nov. 23, 2015) added liquidity and the company still has “lots of levers” to manage its balance sheet, the company’s annual general meeting heard last week.
March 28, 2016, 10:28 AM MDT
Delphi Energy Corp. says an infill well drilled at the end of 2015 during its first 30 days of production had the highest natural gas liquids (NGL) yield of all wells drilled to date at Bigstone, 150 kilometres southeast of Grande Prairie, Alberta.
March 18, 2016, 11:53 AM MDT
Repsol S.A. has placed Canaport LNG liquefaction plans on hold while the operator “explores other options to maximize the value” of the import terminal in Saint John, New Brunswick, says a company spokesperson.
March 18, 2016, 9:14 AM MDT
Alberta’s power producers, taking advantage of falling gas prices, are migrating towards natural gas-fired generation, a recent energy conference heard.
March 17, 2016, 9:50 AM MDT
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