North Dakota’s Bakken formation, the Permian Basin and the Eagle Ford shale are home to some of North America’s lowest cost oil producers according to the latest data from Evaluate Energy.
April 15, 2020, 7:55 AM MDT
Despite misplaying his hand horribly, and rather remarkably being outsmarted by both Saudi Crown Prince Mohammed bin Salman (MBS) and U.S. President Donald Trump, Russian President Vladimir Putin made virtue of adversity by agreeing to the historic OPEC+ deal finalized on April 12. This has allowed him to relay the groundwork for his strategy to win the price war against the U.S. shale industry.
April 14, 2020, 7:59 AM MDT
A handful of North American oil companies were happy to take on significantly more risk in 2019 in their pricing strategy per barrel – and would have suffered greatly in the price drop of early 2020.
April 14, 2020, 8:55 AM MDT
Canadian oil and gas companies are rapidly adjusting their cost structures to remain viable as the collapse in oil prices resulting from the drop in demand from the COVID-19 pandemic hammers cash flows, according to the results of the Daily Oil Bulletin Pandemic Survey.
April 9, 2020, 9:22 AM MDT
Canada will likely shut-in more than 1.1 million bbls/d of production in Q2 2020 as COVID-19 devastates global oil demand and producing countries fail to agree on output cuts, says Rystad Energy AS.
April 9, 2020, 9:24 AM MDT
The 2020 Olympics have been deferred, but the Geopolitical Oil Games are full on. Who will stand on the gold podium? Saudi Arabia, Russia or the United States? Will countries like Canada, Brazil or Norway even place?
April 8, 2020, 6 AM MDT
Everybody in the world (this statement has meaning like it never did before) understands that humanity faces a real, immediate crisis — the COVID-19 pandemic. And world economies face another less deadly but still profound crisis caused by the pandemic and the Russia / OPEC price war that has upset global oil markets.
March 31, 2020, 12 AM MDT
In the first two articles of this series I put forth the thesis that the current oil price war was instigated by Russian President Vladimir Putin with the goal of causing substantial permanent damage to the U.S. shale industry, and the third article discussed three possible wildcards related to my thesis.
March 30, 2020, 6:52 AM MDT
The first two articles in this series explained the rationale for Russian President Vladimir Putin’s oil price war, the second article in more detail than the first. Before delving into three major wildcards that could impact Putin’s price war, both in a positive and negative manner, I have one matter I wish to discuss related to the central thesis, based on comments by a few friends and colleagues over the past week.
March 27, 2020, 4:52 AM MDT
The total enterprise value of merger and acquisition (“M&A”) transactions in the Canadian oil and natural gas industry dropped 34 per cent, falling to approximately $8.0 billion in 2019 from the $12.1 billion recorded in the previous year.
March 25, 2020, 8:31 AM MDT
Industry must cut Western Canada’s crude production by some 11 per cent for April, says Rystad Energy AS, as the country is days away from running out of available storage capacity given the large global supply surplus created by the COVID-19 demand deconstruction and an ongoing Saudi-Russia oil price war.
March 25, 2020, 8:30 AM MDT
In the first of the Oil Price War 4.0 series, it was argued in a general sort of way that Russian President Vladimir Putin’s price war would likely be longer and deeper than the three previously started by Saudi Arabia.
March 23, 2020, 9:10 AM MDT
I have worked as a world oil analyst during all four crude oil price wars since the creation of the Organization of the Petroleum Exporting Countries (OPEC) in 1960, having started my career at the Alberta Petroleum Marketing Commission (APMC) in the mid-‘80s. Based on what I’ve learned about oil price wars over this period, we should batten down the hatches, as this one could be the longest and deepest of them all.
March 18, 2020, 1:33 PM MDT
With increasingly stringent public health measures across the country to combat COVID-19, Canadians are understandably less focused on energy and environment than usual. But the precipitous drop in global oil prices and the collapse in Canadian energy stocks underscore the tight link between energy and global circumstances.
March 17, 2020, 10:05 AM MDT
Phil Fontaine, living legend and former three-term national chief of the Assembly of First Nations (AFN), has said on numerous occasions that reconciliation is not possible without narrowing the economic gap between Indigenous peoples and the rest of Canadians.
February 27, 2020, 9:54 AM MST
The total amount of capital raised in the Canadian oil and natural gas industry in 2019 slightly increased to $5.36 billion compared to the previous year’s record low of $5.29 billion.
February 26, 2020, 8:33 AM MST
Seeing the protests in support of the Wet’suwet’en hereditary chiefs opposed to the Coastal GasLink pipeline, you might think the country is hopelessly polarized over energy and environment. Canadians’ views on oil and gas development, pipelines, Indigenous rights and climate action seem ever-more divergent. So do those of energy and environmental leaders.
February 18, 2020, 3:54 AM MST
Results from the Democratic Party’s presidential caucus in Iowa may be muddled, but it is crystal clear that two of the front runners for the nomination, Senators Bernie Sanders and Elizabeth Warren, will do all in their power to shut down the U.S. shale industry if they become president.
February 10, 2020, 12 AM MST
There is mounting concern in Canada about conflict over energy and environmental issues. It is easy to get caught up in the whirlwind of conflict and see division everywhere — some days it seems like warring politicians, angry protests and social media fights are the only game in town.
February 4, 2020, 4:56 AM MST
As Parliament resumes in Ottawa this week, differences between the parties over energy and environmental issues are sure to hit the headlines and erupt on social media. Judging by these debates, Canadians’ views on things like carbon taxes, pipelines and oil and gas development are increasingly divergent.
February 4, 2020, 4:57 AM MST
Sayer Energy Advisors’ annual outlook and forecast of forthcoming mergers and acquisitions (“M&A”) activity in the oil and natural gas industry will outline our predictions for 2020.
January 29, 2020, 6 AM MST
The media wars — mainstream media, social media, blogs, and others — continue to heat up over energy policy and climate change, and Canada is in the heart of the battle.
January 29, 2020, 12 AM MST
Market players have been extremely blasé about the large disruption to Libyan oil output since January 19, with the price of international marker Brent crude actually dropping more than two dollars a barrel.
January 27, 2020, 9:39 AM MST
As we flip the calendar into the new year and a new decade, it’s a good time to pause and think about what the next 12 months and beyond may hold in store for the oil and gas industry. Here are some of the big questions that are front of mind as we start the new year.
January 8, 2020, 8:39 AM MST
The assassination of Iranian Quds Force commander Qasem Soleimani was a brilliant move by the Trump administration, if its goal is regime change.
January 8, 2020, 10:40 AM MST