BOE Report Staff

On December 7, 2023, Invico Income Limited Partnership (“Invico”), the secured creditor of Free Rein, sought and obtained an initial order (the “Initial Order”) and an amended and restated initial order (the “ARIO”) from the Court of King’s Bench of Alberta (the “Court”) under the Companies’ Creditors Arrangement Act, R.S.C. 1985, c. C-36, as amended (the “CCAA”). The ARIO provides, among other things, an initial stay of proceedings until January 31, 2024 (the “Stay Period”) which may be [Read more]

Canada’s active rig count came in at 190 this morning, an increase of 1 rig compared to December 1. Alberta’s active rig held fast at 134, while Saskatchewan’s rig increased to 28. BC’s active rig count remained at 25 throughout the week. With respect to target commodities, the number of oil rigs decreased by 1 between December 1 and December 8. The number of gas rigs has returned to 72 after increasing briefly earlier this week. The number of rigs classified as “Other” or “Unknown” [Read more]

H2S Solutions Ltd. is an environmentally active hydrogen sulfide scrubbing company that uses a iron-based granular absorption media for zero missions of fugitive venting and odours. The company has been in business since 1994 with a patented system Canadian Distributorship for the iron based granular scrubbing media the founder and prime director is liquidating his scrubber assets after being in business over 25 years in the Canadian oil and gas industry. The owner would like to sell the [Read more]

“Despite the federal government’s stated objective that the emission cap should not put a limit on Canadian oil and natural gas production, the unintended consequences of the draft framework announced today of a cap-and-trade system with an interim target of a 35% to 38% emissions reductions below 2019 by 2030 could result in significant curtailments - making this draft framework effectively a cap on production. At a time when the country’s citizens are experiencing a substantial affordability [Read more]

PrePad, a cloud-based SaaS startup, has proudly announced a strategic investment from Devon Energy in a significant move poised to reshape the landscape of drilling and completions time and cost estimating. The investment was highlighted in a joint press release on October 7, 2023. This collaboration aims to leverage PrePad’s advanced simulation capabilities to enhance Devon’s well cost and duration models, ultimately improving capital efficiency and decision-making in drilling and [Read more]

In recent years, wildfires have increased in frequency, size, and persistence. This has impacted the energy industry, affecting the safety, operations, and overall production of remote facilities. This year, the Canadian Weather Agency (ECCC) has expressed concern about the risk of wildfires this winter due to the anticipated warm and dry conditions in Western Canada. H2Safety's software module, +Wildfire, is a game-changer in wildfire preparedness. It is a cost-saving solution that transforms [Read more]

In the world of containment solutions, the landscape has historically been marked by standard offerings and limited innovation. One company, Western Engineered Containment (WEC), the recognized industry leader in full-service containment, has been defining industry standards for years with its visionary approach. WEC’s focus on creating innovative containment solutions has led to the creation of a number of unique offerings that have truly set them apart in the market - none more than their [Read more]