Alberta’s oilsands sector is at the cusp of a technological renaissance that could transform the industry similar to how innovations produced the shale revolution in the United States, a top CEO believes.
Suncor Energy Inc. is getting closer to reaching its internal goal of dropping per bbl costs at its oilsands mining and upgrading operations to under $20, and while CEO Steve Williams indicated that the bottom range of that target will likely remain elusive for some time, the reductions achieved to date are sustainable.
While the Petroleum Services Association of Canada (PSAC) anticipates 2,505 more wells drilled across the country this year than in its initial forecast, the oilfield service sector is still suffering from the impacts of a long industry downturn, says Mark Salkeld, notably with the rates producers will pay for services.
The National Energy Board (NEB) has asked Enbridge Inc. to file additional information on its plans for a horizontal directional drill (HDD) under the Mackenzie River to replace a segment of Line 21 near Fort Simpson, Northwest Territories.
The future of business is here and that means complacency is no longer an option. Living in a “comfort zone” when it comes to running operations can mean falling behind the competition; today’s environment demands flexibility to change to constantly evolving technology.
Over the last few years, oil and gas producers have faced tremendous headwinds. Producers are focusing on managing costs and reducing risk. Drilling and completion programs are a key area for scrutiny.
Higher global crude prices and a $151 million gain on the sale of a surplus property translated into estimated earnings of $333 million (39 cents per diluted share) for Imperial Oil Limited in the first quarter of 2017 compared to a $101 million (12 cents per share) loss a year earlier.
Crews have contained and are focused on recovering approximately 900 cubic metres of treated produced water released from a storage lagoon at Imperial Oil Limited's Cold Lake in-situ operation in northeast Alberta.
The initial estimate of volume released is 141 cubic metres, of which approximately 120 cubic metres has been recovered and safely removed from site, Inter Pipeline Ltd. said, updating an incident in which a leak of bitumen blend occurred earlier this week.
Canadian results for Nabors Industries Ltd. reflected a strengthening of the market in the first quarter of 2017 as drilling and rig service revenue was up 60 per cent year-over-year although the company said overall company results were well short of expectations.
Nine champions of Alberta leadership and excellence in professional engineering and professional geoscience have been recognized by the Association of Professional Engineers and Geoscientists of Alberta (APEGA).
An analysis by the Methane Emissions Leadership Alliance (MELA), an industry association of Canadian methane management technology and service providers, projects job growth for local companies providing methane management solutions to the oil and gas industry.
Total Energy Services Inc. has taken-up an additional 3.18 million common shares of Savanna Energy Services Corp. under Total Energy's offer to purchase all of the outstanding Savanna common shares, representing 2.7 per cent of the total number of issued and outstanding Savanna common shares.
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