BOE Report Staff

Canada's active rig count dropped to 172 on July 21, a decline of 5 rigs compared to last Friday. This is the second consecutive week that we've observed a week-on-week rig activity decline, although trends from prior years suggest this will likely not continue through August. Alberta's active rig count declined from 123 on July 14 to 121 this morning, a modest 1.6% decline, while rig activity in Saskatchewan declined by 12.5% over the same period. BC's rig count declined by 1. With [Read more]

Olympus Energy LLC, (“Olympus Energy”) is pleased to announce the execution of an agreement with Tenaska Marketing Ventures (TMV) for the sale of the company’s certified responsibly sourced gas (RSG) produced in the Appalachian Basin. This significant, long-term transaction involves the transfer of Digital Natural Gas® certificates through the Xpansiv Registry, which successfully underwent rigorous site-level environmental assessments by the Project Canary TrustWell™ program. “We are excited [Read more]

A B.C. operator is seeking a partner to develop a Triassic light oil pool on its property base in the B. C. townships. The pool size is estimated at 14 sections with 60 million barrels original oil in place. The operator controls 4 sections in the center of the oil pool with the opportunity to acquire more of the pool lands. The operator owns a production facility and several gathering lines within the pool boundary. The first location has been surveyed. The drill target is an oil saturated [Read more]

Canada's active rig count declined slightly this week, settling at 173 compared to 180 on July 7. This 3.9% decline is the first we've seen in weeks and, given trends from previous years, will likely be followed by activity increases in the near future. The week's peak was 189 on July 10, continuing a pattern of activity lulls as the weekend draws nearer. Activity was down across Alberta, BC, and Saskatchewan, with Saskatchewan's decline of 4 rigs standing out as the most [Read more]