Steven Berg isn’t sure he can trust himself to politely discuss how to remedy the pernicious cycle of booms and busts that have plagued Canada’s oil and gas industry for generations.
March 28, 2017, 6 AM MDT
Debt-free Xtreme Drilling Corp. says that, thanks largely to the sale of its coiled-tubing division, it has the cash reserves to upgrade its fleet and financial flexibility just as commodity prices — and, in turn, the Canadian and United States land-drilling market — show signs of improvement.
March 10, 2017, 4:58 AM MST
Oil and gas operators can mitigate risks and capitalize on opportunities in an evolving environmental regulatory landscape but they must collaborate early and often, a recent energy symposium heard.
March 9, 2017, 8:35 AM MST
Typical of the industry, demand for Canyon Services Group Inc.’s services “far outweighs” its ability to supply crews as commodity prices improve and producers are putting them back to work, a conference call heard this morning.
March 3, 2017, 11:39 AM MST
Strad Energy Services Ltd. says it is approaching 2017 with caution, focused on managing its cost structure as activity levels increase to ensure the efficiencies it has gained over the past two years are preserved for when the recovery eventually takes hold.
March 2, 2017, 11:03 AM MST
Newalta Corporation is beginning to benefit from improvement in its markets and expects a return towards normalized quarterly seasonality this year based on higher, more stable commodity prices than in 2016 and a boost in drilling.
February 28, 2017, 10:47 AM MST
Western Energy Services Corp. expects that 2016 will mark the bottom for industry profitability and management believes its prices and margins will improve this year.
February 23, 2017, 11:25 AM MST
Based on producers’ healthier spending plans, Canada’s service and supply companies are expecting to emerge from their worst year in decades to improved conditions in 2017 — if they can get enough workers.
February 21, 2017, 8 AM MST
Petroleum Technology Alliance Canada (PTAC) is holding a series of free workshops and information sessions on the technologies available to simultaneously reduce methane emissions and costs.
February 21, 2017, 8:29 AM MST
Cenovus Energy Inc. hinted that construction could restart on two deferred steam-assisted gravity projects in the next couple of years and says more information will be released in the coming months.
February 17, 2017, 6 AM MST
Its financial results continuing to be significantly hurt by volatile oil prices during 2016, Cenovus Energy Inc. says the company was focused on preserving financial resilience, exercising capital discipline and achieving sustained cost reductions.
February 16, 2017, 11:34 AM MST
Recent government announcements have encouraged the head of Suncor Energy Inc. regarding the future of Canada’s oilsands and Syncrude, the joint-venture oilsands mine where the company acquired majority ownership last year.
February 10, 2017, 6:53 AM MST
Having turned the corner to profitability, nearing the end of a period of organic growth and winding down a multibillion program of divestments with no attractive merger or acquisition candidates in sight, Suncor Energy Inc. plans to allocate capital towards its dividend and buying back shares, a year-end conference call heard this morning.
February 9, 2017, 11:30 AM MST
An estimated $13.5 billion will be spent on oilsands projects this year, the vast majority of it on maintenance, compared to an estimated $16 billion in 2016 — both figures are a far cry from the almost $34 billion spent in 2014 when oilsands spending peaked, says a researcher.
February 2, 2017, 6 AM MST
Cenovus Energy Inc. is introducing a new, simplified version of its oilsands projects’ well-pad design that is expected to have overall cost savings per well of between 35 and 50 per cent while maintaining safety, compliance and production.
January 31, 2017, 8:09 AM MST
Alberta Environment and Parks (AEP) this week approved the first carbon offset protocol that addresses methane emission reductions from pneumatic production equipment.
January 27, 2017, 11:07 AM MST
The oil and gas industry is extremely resistant to change but innovation is critical to its survival, warns an entrepreneur who has felt the frustration of gaining the sector’s acceptance of his emerging oil- and gas-well remediation technology.
January 16, 2017, 10:04 AM MST
In yet-another attempt to get members back to work during the downturn, the Petroleum Services Association of Canada (PSAC) is proposing another way of funding the decommissioning of abandoned wells, and this time it has support from a financial entity.
January 10, 2017, 10:58 AM MST
Penn West Petroleum Ltd. expects its 2017 total capital budget of $180 million will provide approximately 15 per cent production growth from the fourth quarter of 2016 to the fourth quarter of 2017, and ample flexibility to respond to commodity prices as it uses only 80 per cent of available funds flow from operations.
January 5, 2017, 10:31 AM MST
With completion of its Horizon expansion oilsands project in sight, Canadian Natural Resources Limited’s 2017 budget forecasts capital spending of $3.89 billion and production growth of six per cent over 2016.
December 15, 2016, 11:50 AM MST
Québec’s nascent oil and gas industry is hailing the recent creation of that province’s energy law as a milestone for Québec and a boon for the industry as a whole.
December 12, 2016, 10:53 AM MST
Although only about 10 per cent of the construction of Cenovus Energy Inc.’s next oilsands project, Christina Lake phase G, has been done on site and about 25 per cent of its modules are complete and in storage at various locations, chances of going over budget are slim, says the company
December 9, 2016, 11:58 AM MST
Cenovus Energy Inc.’s 2017 budget of between $1.2 billion and $1.4 billion, which affords restarting construction of an oilsands project and features conventional oil drilling in southern Alberta, is a 24 per cent increase over this year’s spending ($1 billion to $1.1 billion).
December 8, 2016, 11:53 AM MST
Brion Energy Corporation’s steam-assisted gravity project, the MacKay River Commercial Project, began steaming on schedule last week, according to a company spokesperson, who declined to say whether it was also on budget.
December 6, 2016, 10:48 AM MST
New research has found that vegetation re-growth affects how caribou and their predators respond to seismic lines, varying between species and seasons, and that caribou avoid well sites during times of high activity, a recent forum heard.
December 2, 2016, 8:36 AM MST