James Mahony

  • Peyto Weighs Offshore Option For Selling Liquids-Rich Gas

    The dismal natural gas prices of recent weeks are making Western Canada’s gas producers think twice about the high cost of splitting off natural gas liquids (NGL) from their production streams.

    May 24, 2016, 10:26 AM MDT

  • RedWater Ruling Could See Orphan Well Count Soar: Lawyers

    While seen as a victory for industry lenders, an Alberta court ruling this week could result in a sharp rise in the number of orphan wells, potentially leaving taxpayers on the hook for unfunded well abandonment costs, according to lawyers familiar with the case.

    May 20, 2016, 10:51 AM MDT

  • Petrus Shareholder Challenges Board’s Independence

    While cutting debt and narrowing its net loss in the first quarter, Petrus Resources Ltd. saw average daily production in the period fall 5.5 per cent from comparable 2015 figures.

    May 13, 2016, 9:57 AM MDT

  • Put Infrastructure Cash Into Well Clean-Up: Essential

    Some of the infrastructure money Alberta stands to gain from the federal government this year could fund clean-up of the province’s orphan wells and generate jobs, the head of an Alberta well-servicing firm said this week.

    May 12, 2016, 8:39 AM MDT

  • Onetime Gains Lift Northern Blizzard’s Earnings

    Hedging gains and an income tax recovery boosted earnings for Northern Blizzard Resources Inc. in the first quarter, although production was down from last year’s comparable figure.

    May 11, 2016, 10:31 AM MDT

  • Inter Pipeline Ready When Oilsands Plants Restart

    As oilsands producers in the Fort McMurray area make plans to restart production after recent shutdowns, the area’s pipeline operators,  including Inter Pipeline Ltd., are also gearing up to begin moving bitumen and diluent once again.

    May 10, 2016, 10:03 AM MDT

  • Full-Year Capex Will Depend On Prices: Trilogy

    Production declines, the shut-in of some wells and the suspension of others led to lower production in the first quarter, as did asset sales and the expiry of an agreement with Aux Sable Canada LP, Trilogy Energy Corp. reported.

    May 6, 2016, 10 AM MDT

  • Xtreme Not Rushing To Spend Cash From Schlumberger Deal

    While the sale of its North American coiled tubing division will give Xtreme Drilling and Coil Services Corp. a hefty cash surplus, the company is in no hurry to spend the money, management said this morning (DOB, April 28, 2016).

    May 5, 2016, 11:01 AM MDT

  • Cost-Cutting Partly Offsets Savanna’s Activity Drop

    “Extremely challenging” industry conditions in the first quarter led to the lowest North American equipment utilization ever for Savanna Energy Services Corp., the company said in a report this morning.

    May 4, 2016, 10:52 AM MDT

  • Baytex Continues Focus On Eagle Ford Shale

    Although known as a heavy oil producer, Baytex Energy Corp. continued its recent focus on the Eagle Ford shale play in the first quarter, sinking nearly all of its capital for the period into the south-Texas play.

    May 3, 2016, 10:53 AM MDT

  • ONGC’s Invite To Rig-Makers Has Strings Attached

    India’s national oil company is inviting Canada’s rig-manufacturers to show their wares, but the invitation comes with strings attached.

    May 2, 2016, 10:58 AM MDT

  • Xtreme Lost ‘Crown Jewel,’ But Price Was Right: CEO

    In selling its fleet of XSR coiled tubing rigs, Xtreme Drilling and Coil Services Corp. has lost a crown jewel, but the deal was no fire sale, according to the company’s chief executive.

    April 28, 2016, 9:49 AM MDT

  • Cutbacks In Service Sector May Not Be Over

    While it might have abated slightly, the turmoil in Western Canada’s oilfield service sector is not over, industry executives told the Bulletin recently.

    September 30, 2015, 8:48 AM MDT

  • OPEC’s Days As World’s Swing-Producer Numbered

    The Organization of Petroleum Exporting Countries’ role as swing-supplier in global crude oil markets is nearing an end, but the United States may be poised to take a leading role, according to a U.S. expert.

    September 16, 2015, 11:29 AM MDT

  • Stressed Juniors Get ‘Hall Pass’ From Lenders Until Fall

    As the industry downturn continues, financially stressed junior producers have won some breathing room from industry lenders, says an Alberta banking executive.

    September 2, 2015, 8:47 AM MDT

  • Current Royalties To Stay In Place To End of 2016: Energy Minister

    Although the Alberta royalty review panel named this morning will begin work immediately, the province’s current oil and gas royalty framework will be unchanged until the end of next year, Alberta Energy Minister Margaret McCuaig-Boyd told reporters in a press conference this morning.

    August 28, 2015, 12:13 PM MDT

  • Former Arcan Executive Charged With $5 Million Fraud

    A former executive with Arcan Resources Ltd. has been charged with fraud and money-laundering after a nearly two-year investigation, Calgary police said in a recent Facebook post.

    August 26, 2015, 9:59 AM MDT

  • Producers Will Hold Oil Assets In Hopes Of Recovery: U.S. Executive

    Despite falling crude oil prices, United States producers who need cash are more likely to hold on to oil properties, putting their natural gas assets on the block instead, a U.S. private equity player told an industry audience last week.

    August 25, 2015, 8:47 AM MDT

  • Market Signals Crude Oil Bottom May Be Near: CIBC

    Those who plot commodities trading strategy for the investment banking arm of one of Canada’s chartered banks say the signs are pointing toward a bottoming of global crude oil prices.

    August 19, 2015, 11:34 AM MDT

  • Rosneft Will Pay $182 Million For Trican’s Russian Unit

    Trican Well Service Ltd. was thrown a lifeline this week with news that a unit of Rosneft Oil Company has agreed to buy the Canadian pressure-pumper’s Russian business for $181.60 million in a deal expected to close by month-end.

    August 14, 2015, 11:58 AM MDT

  • Second Oil Price Rout Forces Suppliers To Sharpen Pencils: CES

    The second, most recent collapse in crude oil prices has forced oilfield service and supply firms to once again sharpen their pencils and revisit pricing, the head of Canadian Energy Services & Technology Corp. told investors and analysts earlier today.

    August 13, 2015, 11:27 AM MDT

  • Service Sector ‘Cries Out’ For Consolidation: Total Energy Services

    The head of Total Energy Services Inc. said Canada’s oilfield service sector “cries out” for consolidation, but when asked later which service lines offered the best merger-and-acquisition opportunities, he kept his cards close to his chest.

    August 13, 2015, 8:11 AM MDT

  • Province Should Think Twice Before Boosting Royalties: Industry

    Alberta’s New Democratic Party (NDP) government should think hard before overhauling a provincial oil and gas royalty framework that by most accounts is working, say industry leaders.

    August 11, 2015, 8:33 AM MDT

  • Keyera Mum On Acquisitions As Charges Trim Earnings

    A non-cash foreign currency loss, income taxes and higher depreciation and depletion costs reduced earnings and revenue for Keyera Corp. in the second quarter, as year-to-date income and revenue also dropped (see table).

    August 7, 2015, 8:18 AM MDT

  • Impairment Quashes Q2 Earnings For Enerplus

    A stiff impairment charge quashed earnings for Enerplus Corporation in the second quarter, although the company saw production growth, mainly from its North Dakota properties, its Marcellus properties in the United States, and to a lesser extent from its Deep Basin properties in Canada (see table).

    August 7, 2015, 11:55 AM MDT

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