Drilling

  • Weekly Rig Locator: 43% Of Drilling Rig Fleet At Work

    There were 190 rigs at work this morning across Western Canada, with 248 rigs down, for a 43 per cent active rate, according to Rig Locator.

    September 1, 2023, 11:40 AM MDT

  • Highwood Continues To Grow Through Acquisitions, Drilling Program Soon To Commence

    Highwood Asset Management Ltd. says its focus in Q2 was on the “transformational acquisitions” that the company announced early in the third quarter of 2023 and the corresponding financing.

    August 30, 2023, 8:51 AM MDT

  • Clearview Reports Decrease In Q2 Output

    Clearview Resources Ltd.’s first half 2023 production was down 21 per cent to 1,622 boe/d versus the comparative period last year.

    August 30, 2023, 9:05 AM MDT

  • Drilling Activity Rises In B.C., But Is Flat In Alberta

    There’s been a significant lift in drilling activity in British Columbia over the first seven months of 2023, but the year-over-year rig release counts in Alberta are flat.

    August 28, 2023, 12 AM MDT

  • Weekly Rig Locator: 44% Of Drilling Rig Fleet At Work

    Drilling rig activity in Western Canada and the Top 10 active operators as of Aug. 25, 2023 as reported this morning by Rig Locator.

    August 25, 2023, 11:45 AM MDT

  • Baker Hughes Rig Count: U.S. Down 10

    The U.S. rig count is down 10 from last week to 632 with oil rigs down eight to 512, gas rigs down two to 115 and miscellaneous rigs unchanged at five.

    August 25, 2023, 11:07 AM MDT

  • Lycos Energy Boosts Capex

    Lycos Energy Inc. is increasing its 2023 acquisition expenditures to $59.0 million and its 2023 exploration, development and other capital expenditures to $47.0 million from $50.0 million and $37.0 million, respectively.

    August 25, 2023, 7:46 AM MDT

  • B.C. Liquids Production Will Continue Climbing With New Projects Coming Onstream

    B.C. has seen a rapid increase in natural gas liquids (NGLs) and condensate production in the last five years, with average annual production jumping 111 per cent from 2017-2022 as Montney operators targeted more liquids-rich areas.

    August 24, 2023, 12 AM MDT

  • Devon Finding Growth Opportunities In Maturing U.S. Unconventional Oil Basins

    While some U.S. unconventional oil basins may be in their later innings, with many operators gradually exhausting their existing Tier 1 drilling inventories, that doesn’t mean there aren’t decades of future growth left in these plays, Devon Energy Corporation president and chief executive officer Rick Muncrief told analysts during the company’s second quarter 2023 conference call.

    August 24, 2023, 12 AM MDT

  • Coelacanth Continues To Advance Two Rivers Montney Program

    Montney-focused Coelacanth Energy Inc. says it made “significant strides” during Q2 in advancing its Two Rivers project, which spans company’s 150 contiguous sections of Montney lands and is divided up geographically into two projects — Two Rivers West (TRW) and Two Rivers East (TRE).

    August 24, 2023, 9:18 AM MDT

  • U.S. Rockies Region Seeing Renewed Investment

    Oil and gas operators are putting capital back into the U.S. Rockies region to consolidate assets in existing developments and to expand into new areas.

    August 23, 2023, 12 AM MDT

  • Permian Operators Pushing Out Lateral Lengths Chasing Capital Efficiencies

    Permian operators are drilling and completing longer laterals than ever before, while reporting continued productivity improvements on a well-by-well and asset wide basis.

    August 22, 2023, 12 AM MDT

  • Subsurface Work To Understand Shale Reservoirs Pays Off In Better Performance For Oxy

    Almost a decade of work understanding the intricacies of shale reservoirs is paying dividends for Occidental Petroleum Corporation in improved recoveries, higher well productivity, and lower costs, company president and chief executive officer Vicki Hollub told analysts on the company’s second quarter 2023 conference call.

    August 21, 2023, 12 AM MDT

  • Weekly Rig Locator: 45% Of Drilling Rig Fleet At Work

    Drilling rig activity in Western Canada and the Top 10 active operators as of Aug. 18, 2023 as reported this morning by Rig Locator.

    August 18, 2023, 11:36 AM MDT

  • Baker Hughes Rig Count: U.S. Down 12

    The U.S. rig count is down 12 from last week to 642 with oil rigs down five to 520, gas rigs down six to 117 and miscellaneous rigs down one to five.

    August 18, 2023, 11:03 AM MDT

  • Oilfield Service Costs Moderating In U.S., Say Operators

    After 18 months of rapid oilfield service cost inflation, costs have begun retreating in unconventional basins across the U.S., operators reported in the second quarter 2023 conference calls.

    August 17, 2023, 5:09 AM MDT

  • Corporate Culture Key To Improved Drilling Efficiencies, Says Diamondback Energy

    A corporate culture focused on driving down costs while driving up well productivity is allowing Permian oil producer Diamondback Energy, Inc. to drill more wells faster while keeping a lid on capital expenditures, chief executive officer Travis Stice said at the company’s second quarter 2023 conference call.

    August 17, 2023, 10:34 AM MDT

  • InPlay Continues ERH In Willesden Green

    During the second quarter of 2023, InPlay Oil Corp. invested $12.8 million drilling, completing and equipping two (1.9 net) extended reach horizontal (ERH) wells in Willesden Green and completing and equipping one (0.95 net) Willesden Green ERH well that was drilled at the end of the first quarter.

    August 17, 2023, 12 AM MDT

  • New Well Licensing Rate Continues To Slow Compared To Last Year

    For the second month in a row, the total licence count across Canada declined compared to the year-prior period.

    August 16, 2023, 12 AM MDT

  • Prospera Starts Modular Horizontal Infill Well Program

    Prospera Energy Inc. spudded the first horizontal well of the 10 well modular multi-pad infill drill program in the latter part of this week, subject to any weather-related or uncontrollable delays.

    August 16, 2023, 6:14 AM MDT

  • Petrus Lowers Capex Outlook For 2023

    Petrus Resources Ltd. has lowered its 2023 capital budget guidance to $60 million to $75 million, $33.1 million of which has already been spent, largely on drilling.

    August 15, 2023, 6:05 AM MDT

  • Saturn Exploiting Light Oil Inventory With One Rig Full Time In Alberta, Sask

    Saturn Oil & Gas Inc. is currently exploiting its deep inventory of light oil development projects in both Alberta and Saskatchewan, with one rig drilling full time in each province.

    August 15, 2023, 9:20 AM MDT

  • Pason’s North American Revenue Rises In Q2

    Pason Systems Inc. saw revenue from its work in North America increase.

    August 14, 2023, 12 AM MDT

  • Drilling Contractor Day Rates, Operating Margins Holding Despite Some Pressures, Says Total Energy Services

    North American drilling contractor day rates have stabilized, with contractors able to capture any cost inflation in their pricing and maintain operating margins, Total Energy Services Inc. president and chief executive officer Daniel Halyk told analysts during the company’s second quarter 2023 conference call.

    August 14, 2023, 8:53 AM MDT

  • Cathedral Q2 Revenue Climbs

    Cathedral Energy Services Ltd. reported revenue of $115.06 million in 2023 Q2, the highest for any second quarter in the company's history and represents an increase of 316 per cent from the same period of 2022.

    August 14, 2023, 12 AM MDT

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