Export Development Canada (EDC) said that in response to the COVID-19 crisis, the Government of Canada, through EDC and the Business Development Bank of Canada (BDC), will make available added financial capacity to help support Canada’s oil and gas sector.
April 21, 2020, 11:10 AM MDT
As COVID-19 containment halts mobility, worldwide oil demand for 2020 will likely fall by a record 9.3 million bbls/d, erasing almost a decade of growth, says the International Energy Agency (IEA) in its April oil market report.
April 15, 2020, 8:43 AM MDT
Although they have not officially announced further guidance changes, some smaller E&Ps have released information related to altered drilling plans and/or shutting in production.
April 14, 2020, 11:16 AM MDT
While there’s been a deluge of exploration and production (E&P) companies announcing often massive cuts to capital spending plans as prices languish and global supply soars, western Canadian producers have been slow on the draw when it comes to publicly disclosing production shut-ins, analysts say.
April 7, 2020, 11:46 AM MDT
The sudden, dramatic fall in oil prices has forced many oil producers to adjust every aspect of their 2020 plans. Capital spending has been slashed while some acquisition or divestment plans have been put on hold.
April 6, 2020, 6:46 AM MDT
Latest guidance data from Evaluate Energy suggests that COVID-19 and the price crash are going to have a huge impact on development and growth plans for junior and smaller intermediate producers, with capital budgets being slashed across the market.
March 31, 2020, 11:17 AM MDT
Canadian governments need to quickly become involved in providing more flexible financing to help cash-strapped energy companies stay solvent through the Saudi-Russia oil price war and the COVID-19 crisis so they can help in the economic recovery when conditions improve, says a new report.
March 26, 2020, 9:24 AM MDT
The near-term impact of both COVID-19 and the Saudi-Russia oversupply tactics “will be significant, and a period of heightened market volatility and low global crude prices is expected,” says Sproule Associates Ltd. in the recently released Special Market Report: 2020 Unleashes Unprecedented Volatility On Global Crude Markets.
March 25, 2020, 6 AM MDT
A flurry of announced capital budget cuts from Canadian-based producers have totalled nearly $6.25 billion in reductions over the past few weeks as operators responded to an oil market that was hammered by the COVID-19 outbreak and the oil price war between Saudi Arabia and Russia.
March 24, 2020, 11:04 AM MDT
Global economic activity is falling at record rate as countries take action to prevent the spread of COVID-19. Simultaneously, the OPEC+ curtailment agreement has fallen apart with Russia abandoning its willingness to cut production.
March 23, 2020, 6:47 AM MDT
Global economic activity is falling at record rate as countries take action to prevent the spread of COVID-19. Simultaneously, the OPEC+ curtailment agreement has fallen apart with Russia abandoning its willingness to cut production.
March 20, 2020, 6:42 AM MDT
The coronavirus/price war impact on Canadian oil and gas capital expenditures continues to escalate.
March 17, 2020, 11:01 AM MDT
The arrival of the coronavirus is “rattling a global oil market” that was already facing challenges and on the supply side, geopolitics remain a “wild card,” the International Energy Agency (IEA) says in its Oil 2020 Analysis and forecast to 2025 report released Monday.
March 10, 2020, 10:09 AM MDT
Faced with export capacity constraints and mandatory production curtailments, Canada’s largest oil producers cut output last year, but production is still expected to climb over the next five years, the International Energy Agency (IEA) says in its Oil 2020 Analysis and forecast to 2025 report released Monday.
March 10, 2020, 10:19 AM MDT
Destruction of oil demand due to the coronavirus as well as the rejection by Russia to make steep output cuts proposed by OPEC have delivered a one-two punch to markets, with producers starting to announce plans to cut or postpone capital spending in 2020.
March 10, 2020, 11:04 AM MDT
Several U.S.-based producers reported their 2020 guidance at the end of February, with many shale-focused companies announcing year-over-year cuts in capital spending — and that was before any impacts on demand due to the coronavirus.
March 3, 2020, 10:58 AM MST
The DOB’s weekly guidance report from Feb. 17-21, 2020 is now posted on our website. To read the full weekly guidance report, click here to access it directly, or click on the Guidance tab on the DOB website. Data for the report is powered by Evaluate Energy. The DOB and Evaluate are a part of Glacier Resource Innovation Group.
February 25, 2020, 11:24 AM MST
Just as environmental, social and governance (ESG) performance and reporting has gained an increasingly strong foothold in the day-to-day business of operating in the western Canadian oil and gas sector, it has also gained in importance for companies looking to engage in merger and acquisition (M&A) activity.
February 18, 2020, 6:32 AM MST
Cenovus Energy Inc. reiterated its support for Alberta’s mandatory curtailment program, adding the company believes it needs to be continued for the foreseeable future.
February 18, 2020, 11:20 AM MST
Canadian oil production bounced back in December, setting a new record.
February 13, 2020, 7:22 AM MST
Suncor Energy Inc. has put the brakes on a $2-billion project to add a coker unit at its Montreal refinery facility and will instead seek other opportunities to enhance its integrated asset base.
February 11, 2020, 11:42 AM MST
Capital spending in the oil and natural gas industry is expected to be about $2 billion higher in 2020 compared to last year, according to a forecast from the Canadian Association of Petroleum Producers (CAPP).
February 4, 2020, 9:49 AM MST
Stable oil prices and one mega deal between Occidental Petroleum Corporation and Anadarko Petroleum Corporation resulted in 2019 seeing the highest annual M&A spend for upstream assets worldwide since the price downturn took hold in late 2014.
February 4, 2020, 6:46 AM MST
Pressure pumping equipment with active crews appear to be fully booked through the first quarter of 2020, say TD Securities Inc. analysts.
January 28, 2020, 9:36 AM MST
Stable oil prices and one mega deal between Occidental Petroleum Corporation and Anadarko Petroleum Corporation resulted in 2019 seeing the highest annual M&A spend for upstream assets worldwide since the price downturn took hold in late 2014.
January 28, 2020, 7:33 AM MST
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