BOE Report Staff

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]

Canada’s fleet of active drilling rigs grew from 126 to 138 since last week according to data from Baker Hughes. Total drilling count was 138 at December 6. 87 rigs were drilling for oil; 51 for natural gas. The drilling activity in both Alberta and Saskatchewan increased, with Alberta growing from 86 to 91 and Saskatchewan gaining 8 wells, from 25 to 33. View a full breakdown of Western Canada’s rig activity. [Read more]

The Bowra Group Inc., in its capacity as Receiver (the “Receiver”) of Collaborative Energy Services Inc., Ascent Oilfield Services Corp., and Denarii Well Services Inc. (collectively “Collaborative Group”), is offering for sale the capital assets of Collaborative Group consisting of: Service rigs; Heavy-duty trucks; Catwalk trailers; Commercial trailers; Doghouse trailers; and, Crane carrier. The Receiver is selling its right title and interest in the shares owned by [Read more]

Athena Energy Services Inc. - is seeking to purchase good quality used oilfield equipment in Alberta. 60 m3 Flock Tanks Shale Bins – high side and low side 43-46`long Open Top Tanks Pipe Racks – Drilling Rig Cat Walks – Drilling Rig Mobile Cat Walks for Service Rig Davlin Tanks Garbage Bins Line Crossings Shack Walk Ways Light Towers Fuel Tanks – All sizes (5,000 and 10,000 Liters) 1000 bbl production tanks Hydraulic Pump Buildings Incinerators [Read more]

Canada’s fleet of active drilling rigs shrank from 137 to 126 since last week according to data from Baker Hughes. Total drilling count was 126 at November 27. 77 rigs were drilling for oil; 49 for natural gas. The drilling activity in Alberta and Saskatchewan decreased, with Alberta lowering from 91 to 86 and Saskatchewan losing 5 wells, from 31 to 25. View a full breakdown of Western Canada’s rig activity. [Read more]

XI Technologies is hosting two free webinars in December to address common questions when it comes to asset retirement obligations. These webinars will be 30 minutes each and will demonstrate how ARO Manager helps users with a built-in, industry-recognized cost model and helps them discover working interest partners. Webinar: How to Find Working Interest Partners in ARO Time:    10:30am – 11:00pm MST Date:     Wednesday, December 4th, 2019 Click here to register. Do you know all your [Read more]