BOE Report

BOE Report Staff

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With depressed oil prices, producers find solace in the Viking play

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The Viking play in western Canada has become a staple for oil producers seeking low-cost, high-quality oil production. Wells producing Viking oil can been drilled for as low as $620,000--in the case of Whitecap Resource's Saskatchewan property. Typically, wells are drilled, completed and tied-in for $0.75 - $1.2 million. These low cost wells offer lower risk opportunities for producers compared to prolific tight oil plays which get higher production rates, but at much higher costs. Viking oil [Read more]

Mayor of Fort St. John publishes op-ed concerning BC pipeline development

Last Wednesday, Lori Ackerman, Mayor of the City of Fort St. John, published an insightful perspective concerning role Canadian resource development plays within our communities and the world at large. She titled the piece "USA stops importing Canadian oil and gas” as a faux warning as to the implications of what could happen to the Canadian and British Columbia (and Alberta/Saskatchewan for that matter) economies if certain policy trajectories currently undertaken by more left leaning [Read more]

Saskatchewan has drilled more oil wells than Alberta so far in 2016

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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 adds 26 rigs to its weekly count

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]

This week’s new oil and gas jobs

Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up here to create an account to post jobs; it's simple and easy to use. Senior Exploitation/Reservoir Engineer/Manager Razor Energy Corp. (the “Company”), is a new junior oil and gas start-up is seeking to add a Senior Exploitation/Reservoir Engineer/Manager to the roster. Currently we are [Read more]

Looking for information on oil and gas investments? Here’s the person to follow

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]

Oil prices skyrocket amid OPEC’s announcement

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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]

Over $1.2 billion in Viking deals so far this year, see how it compares to other plays

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Yesterday's light oil asset acquisition by Raging River added another $58 million to a substantial sum of deals in Viking play this year. So far in 2016, $1.27 billion worth of transactions has closed with an additional $433 million announced. The Viking has indeed been a sought after play, however, the Montney remains the most active play for M&A activity in western Canada with $2.3 billion in deals completed year-to-date. The Williston Basin and Shaunavon have seen approximately $500 [Read more]

This week’s new oil and gas jobs

Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up here to create an account to post jobs; it's simple and easy to use. Hydrogeologist – Contract Connate Water Solutions Inc. is a leading edge hydrogeology and sustainable energy consulting company based in Calgary, AB. We are seeking to fill a contract Field Hydrogeologist position to [Read more]

Foremost remains financially strong despite poor market conditions

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]