Despite limited insight into producer intentions and an oversupply of fracturing spreads in North America, Calfrac Well Services Ltd. president and COO Lindsay Link expects the remainder of 2019 to be busier than the first half of the year.
August 2, 2019, 6 AM MDT
Canada’s publicly traded oil and gas producers reported a 10 per cent increase in production in 2018 compared with the previous year, but the increase didn’t translate into stronger earnings.
August 1, 2019, 10:51 AM MDT
The oil and gas industry in Canada is in the midst of a great disruption.
July 24, 2019, 11:38 AM MDT
Tough new federal clean fuel standards set to begin in 2022 will drive up energy costs across the Canadian economy, according to a recent report authored by the Canadian Energy Research Institute (CERI).
May 24, 2019, 7:52 AM MDT
Akita Drilling Ltd.’s expansion into the U.S. market is paying off for the Calgary-based drilling contractor, company president and chief executive officer Karl Ruud told shareholders at the company’s annual meeting in Calgary on Tuesday.
May 16, 2019, 10:04 AM MDT
Tough oilfield service market to continue throughout 2019, says Trican Well Service Ltd.’s president and CEO Dale Dusterhoft.
May 10, 2019, 9:52 AM MDT
Higher oil prices aren’t translating into more drilling activity in Western Canada, the Petroleum Services Association of Canada (PSAC) reported in its mid-year update to its 2019 Oilfield Services Activity Forecast Wednesday in Calgary.
May 2, 2019, 10 AM MDT
Five years ago private oil and gas producer NAL Resources was chugging along, producing around 40,000 boe/d from its legacy assets in Alberta and Saskatchewan and spinning out cash flow to its sole owner Manulife Financial Corporation.
December 10, 2018, 8:02 AM MST
After relatively strong activity throughout the summer, a wet September slowed demand for Essential Energy Services Ltd.’s coiled tubing rigs and pumper units as the third quarter came to a close.
November 8, 2018, 10:54 AM MST
With market access issues driving down prices for Western Canadian oil and gas, and regulatory issues threatening to drive up costs, there was a lot of pessimism about the future prospects for the Canadian industry in the audience at the Petroleum Services Association of Canada’s (PSAC) annual forecast luncheon in Calgary last Thursday.
November 6, 2018, 6 AM MST
Uncertainty surrounding oil and gas prices, market access issues, rising regulatory costs, and a closed equity market are creating major headwinds for Canadian oil and gas producers as 2018 comes to an end and these challenges will trickle down to an already hurting service and supply industry in the new year, a packed house at the Petroleum Services Association of Canada’s (PSAC) 2019 Canadian Drilling Activity Forecast event heard on Thursday.
November 2, 2018, 10:45 AM MDT
The Petroleum Services Association of Canada (PSAC) expects a total of 6,600 wells (rig releases) to be drilled in Canada in 2019, a decline of 5.4 per cent compared with its final forecast for 2018.
November 2, 2018, 11:13 AM MDT
Many Canadian oilfield service companies are increasingly relying on export markets in the face of flat activity and tight margins at home, according to executives at the recent Grant Thornton oilfield services executive roundtable in Edmonton.
October 30, 2018, 9:51 AM MDT
Western Canada’s pressure pumpers have seen little growth in 2018 compared to 2017, and that trend is expected to continue into the first half of 2019 as a lack of market access dampens operator enthusiasm to invest in the basin, Calfrac Well Services Ltd. president and chief executive officer Fernando Aguilar told analysts during the company’s 2018 third quarter conference call on Thursday.
October 26, 2018, 9:57 AM MDT
Edmonton — Western Canada’s oilfield services companies continue to face pricing pressure from customers focused on cutting costs rather than growing production, a group of industry leaders reported at the Grant Thornton LLP energy services executive roundtable in Edmonton.
October 24, 2018, 6 AM MDT
With growth in the Canadian oilfield services market stalled, many Canadian service providers are looking to the rapidly expanding U.S. market for new opportunities.
September 27, 2018, 7:12 AM MDT
With upstream capital investment and field activity in Canada expected to remain flat, oilfield service companies need to look to export markets to soak up excess capacity and grow their businesses.
September 13, 2018, 10:46 AM MDT
Higher customer demand for advanced coiled tubing units, pumping units and downhole tools in the Montney and Duvernay resource plays resulted in a significant revenue jump for Essential Energy Services Ltd. in the second quarter of 2018.
August 9, 2018, 10:59 AM MDT
Demand for high performance rigs able to drill extended reach horizontal wells and move quickly around drilling pads is driving the price recovery in the North American energy services market, executives at Ensign Energy Services Inc. told analysts during the company’s second quarter conference call on Tuesday.
August 8, 2018, 9:42 AM MDT
Precision Drilling Corporation’s day rates and operating margins improved in the second quarter of 2018 compared to the previous year and the company expects that trend to continue for the remainder of 2018 and into early 2019, president and chief executive officer Kevin Neveu told analysts on a conference call Thursday.
July 27, 2018, 10:06 AM MDT
Canada’s publicly traded oil and gas producers saw a major turnaround in their fortunes in 2017 as higher prices and lower costs resulted in a combined $12.4 billion in net income, compared to a combined loss of around $1.8 billion in 2016.
June 27, 2018, 6 AM MDT
With Canadian oil and gas production stranded due to a lack of market access, investment in Canada’s upstream industry has stagnated in 2018 after a major recovery in 2017.
June 26, 2018, 6 AM MDT
In 2017, Bonavista Energy Corporation began reaping the benefits of a five-year plan to focus its efforts on two core areas in the Deep Basin and West Central Alberta.
May 4, 2018, 9:33 AM MDT
With a strong first quarter of 2018 behind it, Calfrac Well Services Ltd. is expecting the remainder of 2018 to remain positive for its pressure pumping business, driven largely by U.S. growth, its chief executive officer Fernando Aguilar said in a conference call Tuesday.
May 2, 2018, 9:14 AM MDT
Western Canada’s oilfield services industry will continue to struggle as a glut of natural gas and a lack of market access for oil production keep a tight lid on new capital investment.
April 27, 2018, 10:14 AM MDT