Total Alberta capital expenditures in oil, natural gas and oilsands fell by 31 per cent in 2019 to $18.9 billion from $27.5 billion in 2018 although global capital spending was up, says the Alberta Energy Regulator (AER) in its annual energy outlook.
June 9, 2020, 6:39 AM MDT
The Alberta Energy Regulator (AER) in its annual energy outlook is forecasting a 57 per cent drop in its base case price for Western Canadian Select (WCS) to US$19/bbl in 2020 from $44.28 bbl in 2019.
June 9, 2020, 6:54 AM MDT
The Canadian Association of Petroleum Producers (CAPP) says it has deferred its 2020 crude oil forecast in the midst of the current global uncertainty.
June 2, 2020, 11:19 AM MDT
In this week’s guidance, we detail natural gas capital plans, an update on Enbridge Inc.’s Line 3, and the drop in crude-by-rail volumes.
May 27, 2020, 11:31 AM MDT
The Alberta government and the Canadian Association of Petroleum Producers (CAPP) welcomed last Monday’s announcement by the federal government of a new multi-sector bridge financing program to help large employers, although they caution the details remain to be worked out.
May 20, 2020, 9:29 AM MDT
After setting a new production record of more than 5.8 million bbls/d in December 2019, total Canadian oil supply flowed at robust levels through Q1 2020.
May 14, 2020, 7:06 AM MDT
North American producers continue to slash their capital budgets in the wake of low oil prices and COVID-19 demand destruction, but many are also reviewing their ongoing operating expenses.
May 13, 2020, 11:39 AM MDT
A $1.7 billion federally-funded program aimed at putting energy workers back to work immediately while accelerating well site abandonment and reclamation efforts launched May 1 with an initial $100 million, according to the Alberta government.
May 5, 2020, 11:42 AM MDT
Colombia’s knack for innovation and cultivating a stable, positive relationship with its E&P industry at large have been key factors for the nations success in attracting foreign investment.
April 30, 2020, 6 AM MDT
Declines in capital investment in Canada’s oil and gas industry, combined with technological changes, have had a negative impact on the oil and gas supply chain since the oil price collapse in late 2014.
April 30, 2020, 7:28 AM MDT
In Q1 2020, a total of just US$21 billion in new upstream oil and gas M&A deals were agreed against a torrid backdrop of COVID-19 demand decline and an industry price war.
April 29, 2020, 6:40 AM MDT
2019 was a very positive year for the Latin American upstream industry, according to analysis provided in the latest report released by Evaluate Energy, the Daily Oil Bulletin and Sproule.
April 29, 2020, 6 AM MDT
Producers working across the Western Canadian Sedimentary Basin continue to accelerate shut-in of currently uneconomic production to improve their balance sheets.
April 28, 2020, 11:28 AM MDT
2019 was a very positive year for the Latin American upstream industry, according to analysis provided in the latest report released by Evaluate Energy, the Daily Oil Bulletin and Sproule.
April 27, 2020, 6:49 AM MDT
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