BOE Report Staff

Canada’s fleet of active drilling rigs shrank from 153 to 149 since last week according to data from Baker Hughes. Total drilling count was 99 at December 27. 52 rigs were drilling for oil; 47 for natural gas. The drilling activity in Alberta decreased, shrinking from 102 to 64 rigs. Saskatchewan’s drilling declined from 33 to 22 rigs. View a full breakdown of Western Canada’s rig activity. [Read more]

Canada’s fleet of active drilling rigs shrank from 153 to 149 since last week according to data from Baker Hughes. Total drilling count was 149 at December 20. 88 rigs were drilling for oil; 61 for natural gas. The drilling activity in Alberta increased, growing from 98 to 102 rigs. Saskatchewan's drilling declined from 41 to 33 rigs. View a full breakdown of Western Canada’s rig activity. [Read more]

Oil prices fell on Wednesday after U.S. industry data showed a surprise build up in crude inventories but losses were kept in check by expectations for an uptick in demand next year on the back of progress in resolving the U.S.-China trade row. West Texas Intermediate (WTI) fell 10 cents, or 0.13%, to $60.44 per barrel. Brent dropped 14 cents, or 0.20%, to $65.70 a barrel. Prices had risen more than 1% in the previous session after the announcement last week of the so-called Phase One [Read more]

Canada’s fleet of active drilling rigs grew from 138 to 153 since last week according to data from Baker Hughes. Total drilling count was 153 at December 13. 96 rigs were drilling for oil; 57 for natural gas. The drilling activity in both Alberta and Saskatchewan increased, with Alberta growing from 91 to 98 and Saskatchewan gaining another 8 wells, from 33 to 41. View a full breakdown of Western Canada’s rig activity. [Read more]

With an increase in the number of pipeline failures resulting from earth movement of unstable slopes, the AER recently released Bulletin 2019-28 which requires that pipeline integrity management programs take slope movement into consideration. In this bulletin, the AER encourages all operators to: Assess integrity management programs and how they address risk to pipelines as it relates to natural hazards, including slope movement; and Adopt emerging best practices for real-time [Read more]

Every year, you pay for insurance to cover your business if disaster strikes, but are you sure that your values are accurate? Gerald Kim, Partner, Valuations, Forensics & Litigation Support at MNP works with oil and gas companies and sees how businesses consistently underestimate their insurance needs – and warns of the risks. “Inadequate coverage is common, and leaves organizations footing a bill they can’t pay,” Kim explains. “It can lead to intense financial distress in the event of [Read more]