CES Energy Solutions Corp. is letting some of what it sees as its more irresponsible competitors self-destruct, because unless there is attrition of those firms that would, for example, use their own balance sheets and “work on the cheap” to subsidize large oil companies, then the whole oilfield services space will keep feeling margin pressure.
November 17, 2020, 9:19 AM MST
CES Energy Solutions Corp. has been able to maintain and grow its commitment to a strong and high-quality customer base in the Canada and U.S., says management. The company’s Q3 results demonstrate diversification through operating efficiencies and capitalizing on the completed infrastructure buildout in both operating regions.
November 17, 2020, 9:36 AM MST
While managing COVID during construction at Inter Pipeline Ltd.’s Heartland Petrochemical Complex has had an impact, the project remained on track in the third quarter of 2020, within the $4 billion revised budget and an expected in-service date of early 2022.
November 13, 2020, 11:21 AM MST
Calfrac Well Services Inc. is further reducing its full-year 2020 capital budget by 27 per cent to $40 million, doing so in response to current market conditions.
November 12, 2020, 11:46 AM MST
Horizon North Logistics Inc. saw higher-than-expected occupancy in open lodges, including its Crossroads Lodge in Kitimat, during this year’s third quarter.
November 11, 2020, 9:52 AM MST
During September 2020 Pipestone Energy Corp. re-started its drilling program with two wells drilled and rig released from the 3-12 pad.
November 11, 2020, 8:20 AM MST
Pulse Seismic Inc. data library sales revenue was $1.8 million for the three months ended Sept. 30, 2020 compared to $2.5 million during the same period last year.
November 11, 2020, 10:01 AM MST
Essential Energy Services Ltd. enjoyed more consistent coil well services activity levels in Q3 2020 as compared to an exceptionally slow second quarter, which supports reactivation of two coil-tubing rigs and a fluid pumper.
November 10, 2020, 9:06 AM MST
Enerflex Ltd. estimates its full-year 2020 capital spending will reach approximately $135 million to $140 million, compared to the previously disclosed $125 million to $130 million.
November 9, 2020, 12 AM MST
Improving industry demand resulted in the addition of a fourth fracturing crew in early October, said Trican Well Service Ltd.
November 6, 2020, 9:50 AM MST
Enbridge Inc. continues to advance its Line 3 replacement project in Minnesota with a decision by the Minnesota Pollution Control Agency (MPCA) on its Water Quality Certificate expected by the Nov. 14 statutory deadline.
November 6, 2020, 11:40 AM MST
Consolidation certainly seems to be coming to the oilfield drilling market, says Bob Geddes, president and chief operating officer, Ensign Energy Services Inc., although he is not purview to any related rumours at this moment.
November 5, 2020, 2:46 PM MST
Ensign Energy Services Inc. expects Canadian activity to increase, perhaps with some pressure to revenue rates, into the fourth quarter as the winter drilling season commences.
November 5, 2020, 7:46 AM MST
A smaller number of companies with a heightened focus on technology will characterize the industry as drilling activity recovers, although the timing of that recovery remains uncertain, says the chief executive officer of Pason Systems Inc.
November 5, 2020, 11:30 AM MST
Keyera Corp. says it expects to invest between $400 million and $450 million in growth capital projects in 2021 with the majority focused on KAPS (Key Access Pipeline System) which it had deferred for a year in response to the COVID-19 pandemic.
November 4, 2020, 11:34 AM MST
STEP Energy Services Ltd. has increased its 2020 maintenance capital budget by $2 million to $17.5 million, doing so in response to increased activity in the third quarter and expected activity in the fourth quarter.
November 4, 2020, 5:52 AM MST
Gibson Energy Inc. doesn’t expect any fallout from the Cenovus Energy Inc.-Husky Energy Inc. merger on its business prospects at its main terminal at Hardisty.
November 3, 2020, 10:24 AM MST
AKITA Drilling Ltd. saw a 55-per-cent drop in operating days decreased (to 531) for Q3 2020 when compared to Q3 2019, which had a corresponding impact on financial results.
November 2, 2020, 4:35 PM MST
Secure Energy Services Inc. anticipates a modest increase in drilling and completion activity in Q4 of 2020 and into 2021 as customers add production to offset natural declines and maintain flat production levels to hold cash flow levels, satisfy reserve-based lending commitments, and take advantage of hedge contracts.
November 2, 2020, 10:16 AM MST
Tervita Corporation showed strong recovery performance in Q3 2020, with both its energy services and industrial services segments contributing improving results.
October 30, 2020, 11:16 AM MDT
October 30, 2020, 7:45 AM MDT
In Q3 2020, Cenovus Energy Inc. increased its oilsands production and overall sales in response to higher prices, while also maintaining a low operating and capital cost structure and deleveraging the balance sheet.
October 29, 2020, 11:04 AM MDT
A need to lower the cost base for industry has been the “big driver” for Husky Energy Inc.’s recent moves on the M&A front, says the company’s chief executive.
October 29, 2020, 11:33 AM MDT
Despite the challenges brought about by COVID-19, TC Energy Corporation assets have been largely unaffected with flows and utilization levels across its North American operations generally remaining in line with historical and seasonal norms, the company said today in releasing third quarter 2020 results.
October 29, 2020, 9:27 AM MDT
Western Energy Services Corp. saw revenue fall 71 and 50 per cent for the three and nine months ended Sept. 30, 2020, respectively, to $13.44 million and $76 million, as COVID-19 had a significant impact on customer demand and utilization of both drilling and service rigs.
October 27, 2020, 8:37 AM MDT