The recent rush of E&P mergers and acquisitions in the U.S. has energy service companies adjusting their business strategies to a market now dominated by large independent E&P companies and supermajors that have consolidated assets across U.S. shale plays.
April 15, 2024, 7:32 AM MDT
U.S. pressure pumpers are expecting a flat market in 2024, but at least one company plans to add spreads this year, which could end the pricing discipline that allowed the sector to recover from years of difficult financial and operating conditions.
April 1, 2024, 9:44 AM MDT
U.S. well servicing companies are rapidly retiring aging frack spreads and replacing them with state-of-the-art technologies designed to meet customer demand for increased fuel efficiency and lower emissions.
March 22, 2024, 12 AM MDT
InPlay Oil Corp. reported record quarterly light oil production of 4,142 bbl/d and increased its light oil and NGLs weighting to 59 per cent in the fourth quarter of 2023.
March 19, 2024, 12 AM MDT
Calfrac Well Services Ltd. says 2024 has gotten off to a tepid start for its North American segment and the company could defer some planned spending in the coming months as a result.
March 15, 2024, 12 AM MDT
STEP Energy Services Ltd. says Canadian activity levels have been strong in Q1, particularly for the fracturing service line which is seeing high utilization across the six active crews.
March 13, 2024, 12 AM MDT
Despite continued weakness in North American natural gas prices, STEP Energy Services Ltd. has yet to see a material pull-back in E&P customers’ activity.
March 13, 2024, 6 AM MDT
Five months after closing its $699 million acquisition of Repsol Canada’s Deep Basin assets, Peyto Exploration & Development Corp. is busy drilling across the 455,000 net acres acquired in the deal, company president and chief executive officer JP Lachance told analysts at its 2023 fourth quarter and year-end conference call.
March 11, 2024, 9:49 AM MDT
As operators look to minimize the use of fresh water in fracking operations there is a focus on produced water and water recycling. There is also a potential to displace a portion of the water volume with N2 and CO2.
February 28, 2024, 9:30 AM MST
Trican Well Service Ltd.’s fourth quarter results for 2023 met guidance and market expectations, with president and CEO Brad Fedora saying “differentiation and modernization” is key to the company’s strategy in 2024.
February 27, 2024, 10:17 AM MST
With drought being expected and already present in much of Western Canada, Brad Fedora, president and CEO of Trican Well Service Ltd., said water restrictions are being factored into the company’s operations plans this summer.
February 22, 2024, 2:04 PM MST
In response to lower forecasted natural gas prices, Kelt Exploration Ltd. has reduced its 2024 capital expenditure program to $325.0 million, down seven per cent from its previous budget of $350.0 million.
February 22, 2024, 5:56 AM MST
Birchcliff Energy Ltd.’s F&D capital expenditures were $304.6 million in 2023, including $58.2 million in the fourth quarter.
February 15, 2024, 6:40 AM MST
Highwood Asset Management Ltd. provided an operational update, including a 1,000 bbl/d light oil well with its inaugural stage frack wells at Wilson Creek, and to reiterate its 2024 guidance.
February 6, 2024, 6 AM MST
InPlay Oil Corp. has set a 2024 capital program of $64–$67 million.
January 29, 2024, 8:58 AM MST
Obsidian Energy Ltd.’s $345-$355 million capital plan for 2024 is focused on the continued development and exploration/appraisal of its Bluesky and Clearwater heavy oil assets in Peace River, as well as light oil development in Willesden Green/Pembina in central Alberta.
January 26, 2024, 12 AM MST
Obsidian Energy Ltd. has set a 2024 capital plan of $345–$355 million, which doesn’t include decommissioning expenses.
January 25, 2024, 6:55 AM MST
Obsidian Energy Ltd.’s 2024 plan is focused on the continued development and exploration/appraisal of its heavy oil assets in Peace River and light oil assets in Willesden Green/Pembina (Cardium/Mannville) in central Alberta.
January 25, 2024, 7:05 AM MST
Coelacanth Energy Inc. has completed and tested four wells at its Two Rivers East project including three Lower Montney Wells and one Basal Montney well on the 5-19 pad.
January 18, 2024, 9:56 AM MST
Like the Montney and Duvernay unconventional resource plays, continued technological advances in drilling and completions keep the Deep Basin competitive in global energy markets throughout oil and gas commodity cycles.
January 17, 2024, 6 AM MST
Paramount Resources Ltd. has updated its recent Duvernay development activities
January 9, 2024, 12 AM MST
Obsidian Energy Ltd. completed its second half drilling program on schedule.
January 9, 2024, 7:26 AM MST
Kiwetinohk Energy Corp. is planning to drill, complete, equip and tie-in (DCET) 15 wells, including 12 Duvernay and three Montney wells for a total estimated DCET expenditure of $250 - $265 million for 2024.
December 14, 2023, 8:12 AM MST
U.S. oil producers are delivering productivity gains across Texas, unlocking more output, bringing down costs, and helping navigate ongoing market uncertainties.
November 30, 2023, 10:22 AM MST
While the industry spotlight has focused on the Montney play with major acquisition deals in recent days, the head of a Calgary intermediate says he’s happy to stick with his company’s Sparky light/medium-oil play in east-central Alberta.
November 22, 2023, 6 AM MST
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