Analysis

  • Loss Of Innovation Funding Has Ripple Effects Well Beyond Research Labs

    In the Alberta budget released Oct. 24, 2019, the provincial government announced that it will eliminate the Alberta tax credit component of the Scientific Research & Experimental Development (SR&ED) program for expenditures incurred after Dec. 31, 2019.

    December 2, 2019, 8:51 AM MST

  • Are Flow-Through Share Financings Heading Toward Extinction?

    The total amount of equity raised through flow-through share equity financings to date in 2019 in the Canadian oil and natural gas industry, as illustrated in the graph below, is approximately $67 million, down 43 per cent from the $118 million completed in 2018 and 74 per cent lower than the $258 million raised in 2016.

    November 27, 2019, 7:48 AM MST

  • Should We Keep Investing In Canada’s Oil And Gas Industry?

    There’s a lot of discouraging news around the oil and gas industry these days. It’s under siege from activists, governments, and even investors.  Is there any smart money left in the industry, and is there a case to be made for new investment?

    November 18, 2019, 12 AM MST

  • Encana Domicile Move Wake-up Call For New Trudeau Government?

    The Canadian flag is flying at half-mast in Calgary with Encana Corporation’s Oct. 31 announcement that it is planning to domicile in the U.S. and change its name to Ovintiv Inc.

    November 11, 2019, 12 AM MST

  • The Fiscal Pulse Of Canada’s Upstream Oil And Gas Industry

    What is the fiscal health of the Canadian oil patch this year? It is a mixed diagnosis. While commodity prices, equity values and capital spending are weak, some of the key industry metrics — revenue and cash flow — are still relatively healthy at first glance.

    November 5, 2019, 6 AM MST

  • Assets For Sale Value More Than Doubles Year Over Year

    The amount of Canadian oil and natural gas assets available for sale currently is more than double the value versus the same time last year.

    October 30, 2019, 6 AM MDT

  • Oil Industry Could Prosper Despite Trudeau Minority Government

    Prime Minister Justin Trudeau and his Liberal party may have won a strong minority mandate on Oct. 21, following four-years of majority rule, but this does not mean the sky will continue to fall for the western Canadian oil and gas industry. It partly depends on how Trudeau decides to secure majority votes in the House of Commons, and to a greater degree whether the massive Indigenous-led Eagle Spirit Energy Corridor project moves forward.

    October 23, 2019, 8:52 AM MDT

  • Majority Rules: Unless It’s A Minority: Forrest

    Canadians have spoken, voting in a Liberal minority government on Oct. 21. As the name implies, minority governments have less power since they need to collaborate with other parties to pass legislation.

    October 23, 2019, 9:03 AM MDT

  • New Liberal Government Needs To Move From Division To Unity

    Former prime minister Kim Campbell famously said that elections are no time to discuss serious issues. She was roundly critiqued for the statement, but looking at energy and environment in the federal election you can understand what she was getting at.

    October 22, 2019, 9:25 AM MDT

  • Invest In Mexican Oil Industry At Own Risk

    Since gaining power in December 2018, Mexican President Andres Manuel Lopez Obrador — nicknamed AMLO — has made it clear through actions and rhetoric that he is no fan of his predecessor’s energy reform.

    October 16, 2019, 7:28 AM MDT

  • The Future Of International Oil And Gas Exploration

    While conventional oil and gas exploration has declined precipitously in Canada, it’s still alive and well around the world. Isn’t it?

    October 8, 2019, 4:06 AM MDT

  • Unlikely Allies In The Oil Patch

    How a renewable energy warrior and an oil sands entrepreneur met in the radical middle to go beyond polarizing narratives.

    October 7, 2019, 6:43 AM MDT

  • Drone Revolution Threatens Eastern Canadian Oil Imports

    The precedent set by the extremely successful drone and cruise missile attack on Saudi Arabia’s Abqaiq oil processing plant and Khurais oilfield on Sept. 14 has tremendous implications for eastern Canadian oil security.

    September 30, 2019, 7:44 AM MDT

  • Are Share Buy-Backs Impeding M&A Activity?

    There has been a recent wave of announcements made by publicly-traded oil and natural gas companies related to share buy-backs. This is unusual, in that until recently, buying back stock has not been a significant use of capital in the Canadian energy industry.

    September 25, 2019, 9:53 AM MDT

  • Norway Model Potential Winner For Scheer’s Conservatives

    Public opinion polls are looking bleak for the federal Conservative Party, and hence Western Canada’s oil industry, now that the writ has been dropped.

    September 17, 2019, 6 AM MDT

  • Confessions Of An Oil Price Forecaster

    All modesty aside, I’ve had a very good track record forecasting crude oil prices since returning to the industry in the late 1990s, and have been particularly adept at anticipating major market turning points. But, holy cow, I’ve been far too bullish since late last year.

    September 4, 2019, 7:53 AM MDT

  • Why Are The Media Failing Canadians On Energy Knowledge?

    Why are major, trusted media failing to help Canadians understand developments in the energy industry that are so critical to Canada’s economy? 

    September 3, 2019, 8:36 AM MDT

  • Not So Fast: The Case For Delaying Enbridge’s Mainline Open Season

    Because the Mainline is a dominant artery, Enbridge’s proposal to drastically change the pipeline’s commercial terms should be concerning to all stakeholders.

    August 28, 2019, 7:55 AM MDT

  • M&A Value In First Half Of 2019 Down 29 Per Cent

    The total enterprise value of merger and acquisition (“M&A”) activity in the Canadian oil and natural gas industry in the first half of 2019 was approximately $5.4 billion, down 29 per cent from the $7.6 billion recorded in the first six months of 2018. This is the lowest first-half total M&A value in the Canadian oil and natural gas industry since 2013 when only $4.3 billion in total M&A value was recorded.

    August 28, 2019, 6:44 AM MDT

  • Canada Could Still Become Energy Superpower

    Canada has gone from potential energy superpower to global laughingstock over the past several years.

    August 26, 2019, 7:15 AM MDT

  • The Future Of Oil And Gas Exploration In Canada

    The oil and gas industry in Canada is founded upon a tremendous history of exploration, beginning in the mid-19th century in southern Ontario and expanding across the country throughout the 20th century.

    August 20, 2019, 7:27 AM MDT

  • Energy Federalism Will Be Tested As Never Before: Is Canada Up To The Challenge?

    The last few years are a vivid reminder that federalism is pivotal to energy and climate change policy. In late 2015, intergovernmental collaboration hit a high with the Pan-Canadian Framework on Clean Growth and Climate Change. Provinces and the federal government were singing from the same song sheet.

    August 13, 2019, 7:17 AM MDT

  • Radical Route Needed To Boost Alberta Gas Industry

    The Alberta natural gas industry is in dire straits. In an open letter to Premier Jason Kenney, nine CEOs of primarily gas-producing companies recently begged the Alberta government to consider some sort of royalty tax credit scheme to support a voluntary curtailment plan in an attempt to stabilize gas prices at higher levels.

    July 31, 2019, 6 AM MDT

  • Total Financings Down Year-Over-Year

    A total of $2.7 billion in capital was raised by the Canadian oil and natural gas industry in the first six months of 2019, down 18 per cent from the $3.3 billion recorded over the same time period in 2018.

    July 31, 2019, 6 AM MDT

  • Geothermal Energy — A Future In Western Canada?

    When we talk about “energy transitions,” many people think about wind and solar as the energy sources of the future.  But more thoughtful conversations recognize that future energy supplies will be like today’s — complex and multifaceted, addressing a huge range of demands and situations. 

    July 29, 2019, 12 AM MDT