Avatar Innovations is expanding its financial capacities and growing its partnerships and geographical footprint in an effort to speed development and implementation of carbon tech in the oil and gas industry, the technology accelerator announced earlier this week at a press conference.
December 2, 2022, 8:25 AM MST
A mix of a difficult construction conditions, environmental impediments, labour competition and contractor underperformance is driving up costs on the Coastal GasLink pipeline, a TC Energy Corporation executive said today at the company’s investor day in Toronto.
November 29, 2022, 10:19 AM MST
The federal government needs to make significant changes to its emissions reduction plans if it hopes to engage the energy industry in reaching its climate change goals, two leaders from Canada’s energy industry said at the Canadian Association of Energy Contractors (CAOEC) 2023 State of the Industry forecast event in Calgary.
November 25, 2022, 8:40 AM MST
Getting new pipelines to tidewater, rebuilding Alberta’s natural gas industry, and helping Indigenous communities raise their standard of living through resource development partnerships will drive the Alberta government’s energy agenda going forward, new Premier Danielle Smith told a packed house at the Canadian Association of Energy Contractors (CAOEC) 2023 State of the Industry forecast event in Calgary.
November 24, 2022, 7:56 AM MST
Western Canada’s oil and gas sector is back on solid footing as higher prices have allowed operators to repair balance sheets and invest in new production, a panel of industry leaders told the audience at the at the Canadian Association of Energy Contractors (CAOEC) 2023 State of the Industry forecast event in Calgary.
November 24, 2022, 10:18 AM MST
Leading Montney operators are using a mix of completion technologies including sliding sleeve, ball & seat and plug & perf systems to maximize production and efficiency.
November 23, 2022, 9:30 AM MST
Enerflex Ltd. continues to expand its energy transition business, with around $100 million in carbon capture, use, and storage (CCUS) bookings during the third quarter of 2022.
November 18, 2022, 7:35 AM MST
CES Energy Solutions Corp. has successfully navigated through the wild volatility in oilfield services markets emerging from the pandemic and is now set to reap the rewards, company executives told analysts at its third quarter 2022 conference call.
November 17, 2022, 8:24 AM MST
Enerflex Ltd. will spend the next year repairing its balance sheet, integrating assets from its recent US$735 million acquisition of Houston-based competitor Exterran Corp. and completing three major infrastructure projects, president and chief executive officer Marc Rossiter told analysts at the company’s third quarter 2022 conference call.
November 16, 2022, 10:48 AM MST
Strong third quarter drilling activity surrounding Tidewater Midstream and Infrastructure Ltd.’s three gas processing facilities resulted in improved utilization across its Deep Basin and Montney operations, chief executive officer Joel MacLeod told analysts at the company’s 2022 third quarter conference call.
November 15, 2022, 9:25 AM MST
Construction costs for the new renewable diesel facility at Tidewater Midstream and Infrastructure Ltd.’s Prince George refinery are creeping up, but subsidiary Tidewater Renewables Ltd. doesn’t expect the cost inflation to materially impact profitability when the facility comes onstream in the first half of 2023, chief executive officer Joel MacLeod told analysts at the company’s third quarter conference call.
November 14, 2022, 8:15 AM MST
Strong oil and gas prices heading into 2023, combined with disadvantaged hedges ending at year-end 2022, should result in Ovintiv Inc. enjoying a free cash flow windfall in 2023, executive VP and chief financial officer Corey Code told analysts at the company’s third quarter conference call Wednesday.
November 9, 2022, 12:34 PM MST
Ovintiv Inc. is seeing improved operational results across all assets in its portfolio, executive VP and chief operating officer Greg Givens told analysts at its third quarter 2022 conference call.
November 9, 2022, 2:54 PM MST
Montney gas wells are reaching record levels of productivity as the formation continues to prove its dominance in western Canadian natural gas production.
November 8, 2022, 10:30 AM MST
Pembina Pipeline Corporation plans on using any excess cash flow generated in the next year to reload its balance sheet in anticipation of funding a long list of potential growth opportunities worth up to $4 billion, company executives told analysts at its third quarter conference call.
November 7, 2022, 12 AM MST
Murphy Oil Corporation saw a significant increase in production from its Montney assets in the Tupper area of northeast B.C. in the third quarter of 2022, but higher royalty rates resulted in the price equivalent of 3,000 boe/d taken out of production, said executive vice-president of operations Eric Hambly at the company’s third quarter conference call Thursday.
November 3, 2022, 10:41 AM MDT
The $369 billion in tax credits and other incentives for clean energy investment and emissions reduction projects contained in the U.S. Inflation Reduction Act (IRA) presents a multitude of challenges for Canadian governments and industry in advancing its own plans, a group of panelists at PTAC’s Net Zero conference said.
November 2, 2022, 12 AM MDT
While much of the Canadian oil and gas industry battles widespread cost inflation, in many cases resulting in budget increases, the impact on Gibson Energy Inc.’s financial performance and outlook has been more limited, senior VP and chief financial officer Sean Brown told analysts on the company’s third quarter 2022 conference call.
November 2, 2022, 12 AM MDT
Calfrac Well Services Ltd. could add additional fracturing spreads in North America in 2023 if strong market conditions continue, chief executive officer Pat Powell told analysts at the company’s third quarter conference call.
November 2, 2022, 1:49 PM MDT
Gibson Energy Inc. is looking to grow its core liquids infrastructure business and build out new energy transition operations as alternative fuel production expands, but any opportunities will have to fit within its current investment parameters, president and chief executive officer Steve Spaulding said at the company’s third quarter conference call Tuesday.
November 1, 2022, 10:10 AM MDT
Workloads and revenues for service rigs are increasing as operators undertake delayed well maintenance work and asset retirement activity climbs, Precision Drilling Corporation president and chief executive officer Kevin Neveu told analysts at the company’s third quarter 2022 conference call.
October 31, 2022, 7:48 AM MDT
High transportation costs, combined with weakness in butane prices, sunk AltaGas Ltd.’s midstream profitability in the third quarter of 2022.
October 31, 2022, 6 AM MDT
Demand for high specification drilling rigs with well-trained crews and additional equipment capable of operating efficiently on multi-well pads is driving up day rates across North America, Precision Drilling Corporation president and CEO Kevin Neveu told analysts during the company’s third quarter conference call Thursday.
October 28, 2022, 10:27 AM MDT
Whitecap Resources Inc. will spend its growing free cash flow on reducing its debt load to sustainable levels before returning capital to shareholders through increased dividends and share buybacks, president and chief executive officer Grant Fagerheim told analysts at the company’s third quarter conference call Thursday.
October 28, 2022, 7:26 AM MDT
With the recent acquisitions of Kicking Horse Oil & Gas and XTO Energy Canada, Whitecap Resources Inc. has a wealth of unconventional resource development opportunities in both the Montney and Duvernay plays to augment its legacy light oil operations in Alberta and Saskatchewan.
October 27, 2022, 1:48 PM MDT