The current downturn in oil prices has underscored the need to improve oilsands technologies. Various efforts are underway, but haven’t always made major headlines. This week the Daily Oil Bulletin looks at some unreported or under-reported efforts and discussions aimed at improving oilsands and heavy oil economics through technological improvement.
A steep decline in upstream oil and gas spending couldn’t be offset by a surge in investment on renewables, electricity networks and energy efficiency as global energy investment decreased eight per cent from 2014 to 2015 to US$1.8 trillion, according to the International Energy Agency (IEA).
Baytex Energy Corp. is looking at resuming drilling in Canada as further cost savings will produce heavy oil economics that are competitive with the Eagle Ford in Texas with recovering oil prices, its chief executive said Tuesday.
Penn West Petroleum Ltd. expects to improve performance from its main area by putting Cardium wells on pressure support immediately, or almost immediately after they’re drilled, and by drilling the underlying Mannville.
Controlling operating costs is one component companies can use to maximize natural gas netbacks, and one of the most important ways of doing that is making these costs variable rather than fixed, heard this week’s Peters & Co. Limited energy conference.
Tudor Pickering Holt has been retained by ARC Resources to advise on the divestment of certain non-core assets in Alberta and British Columbia. The assets comprise 3,890 boe/d (55% liquids, 1.83 LMR), with a 12% base decline.
While firm shippers on the NGTL system in northwestern Alberta and northeastern British Columbia can expect fewer service disruptions, that isn’t likely to be the case for shippers who rely on interruptible transportation (IT) service, a TransCanada Corporation executive said today.
geoLOGIC systems is proud to collaborate with Drill Stem Test expert and hydrodynamacist Richard Bartlett to offer free-of-charge training sessions focused on understanding Drill Stem Test’s and their application to petroleum hydrodynamics. Other applications will be addressed.
Grant Thornton Limited, in its capacity as the receiver of certain assets of Tuscany Energy Ltd., is offering for sale Tuscany's oil and gas interests, primarily located in the Macklin North and Evesham areas of Saskatchewan.
Connacher Oil and Gas Limited has obtained an order from the Alberta Court of Queen's Bench extending the period of the court-ordered stay of proceedings against Connacher under the Companies' Creditors Arrangement Act (CCAA) until and including Nov. 15, 2016.
The Canadian Environmental Assessment Agency (CEAA) must decide whether a federal environmental assessment is required for the proposed Husky Energy Exploration Drilling Project, located approximately 350 kilometres east of St. John's, Newfoundland and Labrador, in areas known as the Jeanne d'Arc Basin and the Flemish Pass Basin, in the Atlantic Ocean.
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