Oilsands producers won’t be building upgraders or refineries any time soon, no matter how much Alberta’s new government might hope for the new jobs they would create, say some of the province’s largest oilsands companies.
June 2, 2015, 10:27 AM MDT
Yangarra Resources Ltd. believes its well costs will improve “significantly” this year thanks to a new process it is using to complete its wells, having moved away from using a ball-drop system and now using cemented liners and a sliding sleeve supplied by NCS Multistage.
May 29, 2015, 10:27 AM MDT
Zargon Oil & Gas Ltd. has a lot riding on whether or not Alberta’s new NDP government tinkers with royalties for tertiary recovery projects, and while the company’s president believes his project is safe, he’s not brimming with confidence.
May 28, 2015, 11:23 AM MDT
Canadian Natural Resources Limited says it evacuated all 250 workers from its Primrose operations in northeastern Alberta on May 23 as a precaution against an out-of-control forest fire and they are safe, accounted for and have no reported injuries.
May 25, 2015, 11:46 AM MDT
Savanna Energy Services Corp. has now reduced its staff positions by 43 per cent from their number at the end of 2014, for annualized savings of about $30 million, and it is contemplating the sale of some of its rigs to further firm up its balance sheet.
May 22, 2015, 10:28 AM MDT
Bellatrix Exploration Ltd. says it is concentrating its second-quarter efforts on the Spirit River resource play where the company estimates it has 2.2 tcf of recoverable gas and much better capital efficiency than the Cardium.
May 22, 2015, 9:30 AM MDT
Twin Butte Energy Ltd.’s first-quarter 2015 capital spending fell to about $25 million from a budgeted $30 million and the company has reduced its annual spending plan to $100 million from $120 million, its annual general meeting heard.
May 21, 2015, 11:21 AM MDT
In light of rising oil prices, Gear Energy Ltd. now plans to spend $28 million on capital projects this year, targeting to drill 20 (19.6 net) wells and produce 5,700 to 5,900 bbls of oil per day.
May 20, 2015, 11:24 AM MDT
Northern Blizzard Resources Inc., which normally drills about 250 wells a year, plans to drill just 50 wells this year and drilled a mere four wells during the first quarter of 2015 in response to the decline in oil prices, the company’s annual general meeting heard.
May 19, 2015, 11:14 AM MDT
Despite the reduction in the number of well completions being performed in the Western Canadian Sedimentary Basin (WCSB), frac sand producers are continuing to build infrastructure.
May 15, 2015, 8:59 AM MDT
Rock Energy Inc. is boosting this year’s capital program by $15 million, to $40 million, due to the progress it has made in capital cost reductions, current crude oil prices and its economically attractive projects.
May 15, 2015, 11:43 AM MDT
If oil prices continue to improve, Baytex Energy Corp. will resume drilling in Canada during the second half of this year, the company’s annual general meeting heard this week.
May 14, 2015, 10:02 AM MDT
Shell Canada Limited says it has decided to adjust the schedule of its proposed in situ project, Carmon Creek phases 1 and 2, to optimize the design of the facility and re-tender some contracts.
May 13, 2015, 8:52 AM MDT
Despite the first quarter of 2015’s challenging commodity environment, NuVista Energy Ltd. realized cash flow about equal to that of the first quarter of 2014 and even the third quarter of 2014 (see tables), when prices were “pretty much at a zenith,” the company’s annual general meeting heard.
May 13, 2015, 8:25 AM MDT
MEG Energy Corp.’s focus in the past year has turned to finding new ways to benefit from its existing assets, its annual general meeting heard this week, after the company posted first-quarter results that featured an increased net loss and higher production (see tables).
May 8, 2015, 11:44 AM MDT
Husky Energy Inc. says its first-quarter 2015 results — highlighted by cash flow from operations of $838 million, net earnings of $191 million and production of 356,000 boe per day — reflect the resiliency of its portfolio in a low-oil-price environment.
May 7, 2015, 10:44 AM MDT
Reporting first-quarter results, Husky Energy Inc. says it has its sea legs during these volatile conditions and it will continue to create value through the cycle.
May 6, 2015, 10:17 AM MDT
While most oil and gas producers have curtailed their 2015 capital budgets, slowing the pace of drilling and development across Western Canada because of low prices, so far there has not been a material effect on Keyera Corp.’s operations, says the company, reporting positive first-quarter results.
May 6, 2015, 9:33 AM MDT
Baytex Energy Corp. is decommissioning its Gemini steam-assisted gravity drainage pilot project because of low oil prices following a power plant outage.
May 5, 2015, 11:39 AM MDT
Western Energy Services Corp. has cut its 2015 capital spending budget for the second time this year, by about $4 million, resulting in a current budget of $42 million comprised of $23 million of expansion capital, $17 million of maintenance capital and $2 million for rotational equipment.
May 4, 2015, 10:55 AM MDT
Suncor Energy Inc. plans to roll out a long-term, phased strategy this year to replicate future oilsands projects, the company said yesterday at its annual general meeting.
May 1, 2015, 10:51 AM MDT
Having significantly reduced costs, Suncor Energy Inc. says it was ready for the downturn in prices during the first quarter of 2015 and its integrated business model has proven very resilient.
April 30, 2015, 11:48 AM MDT
The problems at Cenovus Energy Inc.’s Foster Creek oilsands project in late-2013 have been solved with better understanding of the reservoir and improved use of downhole instrumentation, the company’s annual general meeting heard.
April 30, 2015, 10:42 AM MDT
Cenovus Energy Inc.’s oilsands production was up 20 per cent during the first quarter of 2015 compared to the same quarter a year earlier but financially it took a beating, with reduced cash flow and revenue, and a net loss (see tables).
April 29, 2015, 11:28 AM MDT
Imperial Oil Limited has applied to the Alberta Energy Regulator to expand the company’s use of liquid addition to steam for enhanced recovery (LASER) technology, targeting first-quarter 2017 for implementation.
April 29, 2015, 8:58 AM MDT
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