OPEC and allied oil producers, a group known as OPEC+, agreed on Thursday to cut output by 10 million bbls/d in May and June to help prop up prices battered the coranavirus crisis, the group said in a statement.
April 9, 2020, 3:44 PM MDT
The greatest opportunity Canada has in the “current health and economic collapse” is to reset national priorities, Mac Van Wielingen says. He noted that the country was already in a slow-burning crisis long before COVID-19.
April 9, 2020, 7:37 AM MDT
Canadian oil and gas companies are rapidly adjusting their cost structures to remain viable as the collapse in oil prices resulting from the drop in demand from the COVID-19 pandemic hammers cash flows, according to the results of the Daily Oil Bulletin Pandemic Survey.
April 9, 2020, 9:22 AM MDT
Alberta companies are finding ways to protect their workers from COVID-19 at facilities and camp and construction sites while continuing to operate, a webinar organized by the Alberta Chamber of Resources (ACR) heard Wednesday.
April 9, 2020, 11 AM MDT
April 9, 2020, 11:11 AM MDT
The Saskatchewan April 7 public offering of crown petroleum and natural gas dispositions generated $1.72 million in bonus bids.
April 9, 2020, 11:32 AM MDT
For oil and gas operators today, remaining competitive means drilling longer laterals with less downtime, while creating the best possible balance of cost efficiencies.
April 9, 2020, 6 AM MDT
Evaluate Energy hedging data shows that North American oil producers had hedged over 100,000 bbls of oil per day heading in Q2 2020 under contracts that no longer protect these companies against a low price, with WTI and Brent both hitting 18-year lows this month.
April 9, 2020, 8:03 AM MDT
The Daily Oil Bulletin will not be publishing on Friday. We will publish the next edition on Monday, April 13. Have a great long weekend.
April 9, 2020, 12 AM MDT
Canada will likely shut-in more than 1.1 million bbls/d of production in Q2 2020 as COVID-19 devastates global oil demand and producing countries fail to agree on output cuts, says Rystad Energy AS.
April 9, 2020, 9:24 AM MDT
Drilling rig activity in Western Canada and the Top 10 active operators as of April 9, 2020, as reported this morning by Rig Locator.
April 9, 2020, 11:37 AM MDT
The U.S. rig count is down 62 rigs from last week to 602 with oil rigs down 58 to 504, gas rigs down four to 96, and miscellaneous rigs unchanged at two, according to Baker Hughes.
April 9, 2020, 11:43 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 9, 2020, 6 AM MDT
Kelt Exploration Ltd. has no immediate plans to start up drilling and completion operations on wells that currently remain in its budget until there is better clarity on future commodity prices which have been negatively impacted by global oil demand destruction as a result of the COVID-19 pandemic.
April 9, 2020, 7:17 AM MDT
Keyera Corp. plans to suspend operations at four of its gas plants located in west-central Alberta.
April 9, 2020, 7:21 AM MDT
Petrus Resources Ltd.’s board of directors has approved a second quarter 2020 capital budget of $500,000, which provides for non-discretionary maintenance capital only.
April 9, 2020, 7:28 AM MDT
In light of weak commodity pricing, Clearview Resources Ltd. says it has shut in 150 boe/d of uneconomic production and is closely monitoring both the West Texas Intermediate (WTI) benchmark pricing as well as the widening Edmonton Par price differential.
April 9, 2020, 6 AM MDT
April 9, 2020, 7:58 AM MDT
April 9, 2020, 7:51 AM MDT
Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.