BOE Report Staff

According to data tracked by the BOE Report's Well Activity Map, Saskatchewan has drilled 1,428 oil wells in the first 11 months of 2016 versus 1,378 in Alberta. Oil wells include crude oil and crude bitumen. 95% of the wells drilled in Saskatchewan were completed horizontally versus 50% in Alberta. Total well counts do favour Alberta, however, due to gas drilling which adds an additional 727 wells its count. For 2017, the Petroleum Services Association of Canada (PSAC) forecasts 1,940 [Read more]

Western Canada added 26 rigs to its weekly count according to Baker Hughes. It's the biggest weekly gain since January this year. 20 gas rigs were added along with 6 oil rigs. The number of rigs drilling is up 13% year over year as prices begin to improve for both crude oil and natural gas. Alberta saw the biggest gain, adding 20 drilling rigs to a total active fleet of 128. See the full rig count with interactive chart on the BOE Report Rig Count page. [Read more]

Keep it simple. That’s the mantra of Keith Schaefer, editor and publisher of the Oil & Gas Investments Bulletin. The whole reason Mr. Schaefer started his subscription service in mid-2009 was because all the research on horizontal drilling and fracking used a lot of technical jargon and was hard for him to understand. He’s a journalist by training, and an investor by practice.  He combined those two traits and made it his mission to give retail investors some simple, [Read more]

OPEC has agreed to reduce production to 32.5 million barrels a day, two delegates to ministerial talks in Vienna told Bloomberg on Wednesday. The pact is likely to include an additional 600,000 barrels a day of cuts from non-OPEC suppliers. WTI for January delivery rose as much as $3.89 to $49.12 a barrel on NYMEX this morning. Brent crude jumped 7.8 percent to $50.02 at 1:36 p.m. in London. Futures jumped as much as 8.6 percent, the most since Feb. 12. Adding to the recent OPEC [Read more]

We are nearing the end of 2016 and unfortunately for many, this year’s poor market conditions and the rapid decrease in the price of oil still grips tightly on many service-based companies. Many companies have had to reduce costs and lower prices to be competitive in this demanding market. Overall, capital spending in the industry is dramatically lower than what it was in 2014 which has translated to many companies lowering their prices in an attempt to win work. The impact of this trend has [Read more]

As part of our commitment to give back to the community we work in, Sayer Energy Advisors is donating our services to the Canadian Cancer Society (B.C. and Yukon), the Society for the Prevention of Cruelty to Animals (B.C.) and the Society for the Prevention of Cruelty to Animals (Alberta) (collectively the “Societies”) to assist with the divestiture of a Fee Simple title interest. Sayer has been engaged to assist the executor of the estate of William Harold Dickey in the marketing of a Fee [Read more]