As our industry contorts and convulses, the dimensions of its various upheavals manifest in different narratives. Many such narratives overwhelm and subsume others — and often rightly so.
December 14, 2015, 7:49 AM MST
December 14, 2015, 10:41 AM MST
November 24, 2015, 8:34 AM MST
It was a jungle out there for the Canadian oilfield services (OFS) industry in the third quarter of the current fiscal year ended September 30, 2015. For a group of 25 diversified, publicly traded Canadian OFS companies, combined revenue declined 38.5 per cent from $6.6 billion in 2014 to only $4.0 billion this year.
November 19, 2015, 10:32 AM MST
Canadian oil and gas companies have recorded major losses as a group for the three-month period ending Sept. 30, 2015, according to new analysis of quarterly data by CanOils. Low commodity prices have continued to have a huge impact on income statements for oil and gas companies since the end of 2014, with margins being squeezed and huge impairments being recorded across the board. This analysis from CanOils shows that Canadian companies are feeling the same effects as their counterparts across the border in the U.S., whose earnings were analyzed recently using Evaluate Energy data.
November 16, 2015, 8:08 AM MST
CanOils is delighted to announce the latest upgrade to its wells and land database, CanOils Assets, which enhances the analysis which can be performed on land data alongside the existing well data.
November 11, 2015, 9:35 AM MST
November 11, 2015, 8:57 AM MST
November 10, 2015, 9:28 AM MST
Since commodity prices began to drastically fall in Q4 2014, U.S. oil and gas companies in the upstream sector have seen their respective net incomes drop significantly. Operating margins have been tightly squeezed and assets have suffered major impairments. The low price environment has endured throughout 2015 and, as a result, Q3 2015 earnings for U.S. companies are the lowest since prices began to fall in Q4 2014.
November 6, 2015, 9:59 AM MST
The DOB’s sister product, Rig Locator, released this morning the Q3 2015 drilling contractor market share rankings, which also included information on drilled wells depths and types, and producer activity rankings for western Canadian PSAC regions.
October 21, 2015, 11:12 AM MDT
October 14, 2015, 10:53 AM MDT
Analysis in CanOils’ new report “Upstream M&A Value in Canada Rebounds in September 2015” shows that September was the biggest month for Canadian M&A activity since May, if the three deals announced in 2015 with a value of over C$1 billion are excluded.
October 14, 2015, 9:18 AM MDT
October 8, 2015, 10:09 AM MDT
In terms of western Canadian provinces, oil production in Manitoba is undoubtedly a much smaller case study than production in Alberta, British Columbia or neighbouring Saskatchewan. All of the province’s active wells as of August 31, 2015, are located in a small triangle of acreage located deep in Manitoba’s southwest corner on the border with Saskatchewan to the west and the United States to the south.
October 5, 2015, 10:55 AM MDT
In April, Sayer penned an article for the Daily Oil Bulletin titled “The Impact of Changes to the AER’s LMR System on M&A Activity” (DOB, April 29, 2015). To follow up that article, today we will look at the collateral financial damage that may have occurred to the public treasury as a result of the changes.
September 30, 2015, 7:36 AM MDT
In October 2012, Kelt Exploration Ltd. was formed in a spin-off after ExxonMobil acquired Celtic Exploration Ltd. Its growth in production since that time has been impressive. The operational base is now very robust, but Q2 2015 results do highlight an increase in operational expenses caused by the growth strategy based around acquisitions employed by Kelt since the start of 2014.
September 18, 2015, 7:43 AM MDT
That’s the Coles Notes from a senior banker describing the book of oil service loans he manages for one of Alberta’s leading lenders. There’s simply not enough cash flow to support current levels of debt.
September 16, 2015, 9:37 AM MDT
As commodity prices fell at the end of 2014 and in early 2015, companies that participate in the Bakken shale in North Dakota and Montana were hit the hardest amongst U.S. unconventional operators.
September 3, 2015, 10:07 AM MDT
The total enterprise value of merger and acquisition (“M&A”) activity in the Canadian oil and natural gas industry for the first half of 2015 was approximately $9.7 billion, down 52% from the $20.0 billion recorded in the first six months of 2014.
August 26, 2015, 8:28 AM MDT
August 24, 2015, 8:49 AM MDT
As Q2 results continue to flood in, Evaluate Energy has reviewed the performance of the world’s oil and gas majors – BP, Chevron, ConocoPhillips, ExxonMobil, Royal Dutch Shell and Total – to gauge the impact of the price collapse of late 2014 on their respective starts to 2015, with the main focus on their upstream earnings, production and capital expenditures.
August 18, 2015, 8:28 AM MDT
August 18, 2015, 10:46 AM MDT
Things will get better because they can’t get worse. We’re at or near the bottom. Better times ahead.
August 12, 2015, 8:26 AM MDT
July 17, 2015, 11:12 AM MDT
No sector of the economy should be considering the urge to merge more than Canada’s beleaguered oilfield services (OFS) business. The signals are powerful. Overcapacity in virtually every product and service line. Prices down to slimmest of margins. Bankers are unhappy and getting twitchy. Shareholders are morose. OFS operators have to do something because doing nothing is no longer an option.
July 15, 2015, 7:29 AM MDT