A flurry of announced capital budget cuts from Canadian-based producers have totaled over $6 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 23, 2020, 7:37 AM MDT
In the first of the Oil Price War 4.0 series, it was argued in a general sort of way that Russian President Vladimir Putin’s price war would likely be longer and deeper than the three previously started by Saudi Arabia.
March 23, 2020, 9:10 AM MDT
Torxen Energy Ltd., operator of 65,000 boe/d in southern Alberta, was Canada’s largest private producer in 2019 based on operated production.
March 23, 2020, 2:18 PM MDT
Alberta’s energy industry will receive up to $113 million in relief following an announcement by the Alberta government that it will fund the Alberta Energy Regulator (AER) industry levy for six months as part of the action to protect jobs and provide immediate economic relief to the sector.
March 23, 2020, 6:59 AM MDT
Drilling rig activity in Western Canada and the Top 10 active operators as of March 23, 2020, as reported this morning by Rig Locator.
March 23, 2020, 11:34 AM MDT
With no end in sight to the COVID-19 outbreak, Canadian regulatory bodies, like the companies they oversee, are making changes to the way they operate.
March 23, 2020, 1:16 PM MDT
March 23, 2020, 10:58 AM MDT
Amid the deferral of one project and the suspension of major activities on another offshore Newfoundland project, the region’s energy regulator has ordered all operators to remove non-essential staff from rigs and worksites.
March 23, 2020, 10:44 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
March 23, 2020, 9:03 AM MDT
Ensign Energy Services Inc. is lowering its 2020 spending plan to $60 million from $100 million.
March 23, 2020, 7:51 AM MDT
Mullen Group Ltd. says it will temporarily suspend the monthly dividend of five cents/common share for three months, effective April 1, 2020.
March 23, 2020, 9:20 AM MDT
March 23, 2020, 8:42 AM MDT
March 23, 2020, 7:55 AM MDT
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March 23, 2020, 8:57 AM MDT