BOE Report Staff

Canada’s active rig count reached 199 on October 13, an increase of 14 rigs compared to last Friday. This marks a return to rig activity growth after a brief decline last week, a positive sign as the winter months draw nearer. Alberta’s active rig count increased from 132 last Friday to 145 this morning, while Saskatchewan’s rig count grew by 10.7%. BC’s active rig count decreased by 1, settling at 20 today. With respect to target commodities, the number of oil rigs increased by 12 between [Read more]

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Proper abandonment of Oil & gas assets is a critical responsibility in the energy industry. Improperly abandoned wells, pipelines, & facilities can pose significant environmental and public health risks. ELM Inc. (“ELM”), assists our clients in their responsibilities to safeguard the environment, mitigate negative climate change impacts, and protect communities from potential hazards with proper closure techniques. Recently, a client tasked ELM with the abandonment of 44 complex and [Read more]

Overview Economic signals generally continue to be a mixed set causing no consensus on the prospects for a recession or growth in 2023 or 2024. Interest rate increases by the central banks, hit a temporary pause but inflation trends remain uncertain and additional interest rate increases remain possible. Financial markets, especially in fixed income, financial and utilities equities have been under pressure due to interest rate increases. Gas prices in North America have started a slow climb [Read more]

Canada’s active rig count settled at 178 on October 6, a decrease of 13 rigs compared to last Friday. This marks the end of a long run of rig activity growth, although this isn't necessarily out of line with October trends from prior years. Alberta’s active rig count decreased to 126 from 137 last Friday, while Saskatchewan’s rig count shrunk by 6.9%. BC’s active rig count decreased slightly, settling at 21 as of this morning. With respect to target commodities, the number of oil rigs [Read more]