Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Word to the Wise in your inbox, subscribe here.
For years, XI Technologies has been dedicated to sharing knowledge we’ve obtained via our data and research in weekly posts we call XI’s Word to the Wise. For our final post of 2022, we thought it would be useful to look back on our five most successful articles of the year. Whether you missed one, or want a valuable re-read, this collection reflects what you and your peers tell us is of greatest interest.
Our most popular articles use the data contained in AssetBook to examine big acquisitions in the industry, helping readers compare the companies involved to help them gain their own insight. Of these posts, our two most popular highlighted the acquisition of Rising Star Resources Ltd. by Tourmaline Oil Corp. in August and the purchase of Serafina Energy Ltd. by Strathcona Resources Ltd. in September. What did the companies look like prior to completing the agreement? What did we uncover about each company’s assets, core areas, and recent activity? How might their combinations affect others in the area? These posts answered questions like these and more while sharing data on production, reserves, and ESG metrics.
Despite software solutions purpose-built for oil and gas companies to manage, track, and calculate ARO, many companies choose to manage their ARO programs using spreadsheets. At first glance, it’s easy to understand why. For many people, spreadsheets are easy-to-use, highly customizable, and come at no additional cost. It’s the tool people are accustomed to using to calculate various business costs, develop plans, and build and share reports.
But as ARO management has grown in importance and complexity, managing an ARO program through spreadsheets is less than ideal. The initial benefits of spreadsheets – flexibility, familiarity, and affordability – can’t overcome the challenges posed by utilizing a tool never made for this job. This article highlights the difficulties our users have shared with us of their very real problems associated with using spreadsheets to manage ARO.
Another popular series draws on XI Technologies’ enriched industry data from AssetBook to provide perspectives as to what’s happening in significant areas in the Western Canadian Sedimentary Basin. Of these, our most-read post highlighted the ownership, production zones and history, liabilities, and emissions of the Pembina play in June. Other areas highlighted in 2022 include the Montney, Provost, and Southwest Peace River.
In addition to looking at the data in AssetBook on various areas in the WCSB, we also leverage the drilling data found in XI’s OffsetAnalyst to give an overview of drilling trends. These two data sets combine to provide a complete picture of potential opportunities. Our drilling overviews look at the top operators in the area, the most active areas within a play, and the most common drilling depths and lengths. The most popular drilling overview that we ran was posted in April, highlighting the Montney Runners up highlighted Pembina/Cardium, Provost, and Southwest Peace River.
We thank everyone who read our content this year and subscribed to the Word to the Wise. Join us as we share more information with you in 2023. If you’d like to learn more about how XI’s software can analyze companies, packages, drilling data, or regions throughout Western Canada, visit our website or contact XI Technologies.