In the dynamic landscape of oil and gas production, Central Alberta is commanding a significant portion of recent production. Looking at data current to Feb 2024, 31% of the production from wells spudded in the last three months are located within the Central Alberta Region. The image below illustrates the Central Alberta Region, highlighting the production hot spots. This week, we delve into the southern portion of Central Alberta where we see some of the highest production and shed [Read more]
XI Technologies: Breaking Down Silos: Uniting Finance and Operations Teams
In the vibrant business landscape, the tag team match between finance and operations has taken centre stage. Once seen as solo players, they’re no longer content with playing in separate sandboxes. These powerhouses are teaming up to break down barriers, boost productivity and efficiency, unlocking profit potential by sharing savvy strategies to foster teamwork and triumph together! Understanding the Gap Finance and operations teams often operate in silos, with distinct objectives, metrics, [Read more]
XI Technologies – “Liability Limbo”: Improving The Bottom Line With Liability Reduction
In keeping with our recent theme of cleaning up liabilities, this week we dig deeper into liabilities at a company level. Although the AER and BCER ended their practice of providing third-party liability management rating (LMR) reports at the end of 2020, it continues to be a component of the holistic analysis being completed by both the AER and BCER when reviewing acquisition and/or divesture work, as well as in assigning Peer Group rating in Alberta. As the industry embraces this more [Read more]
XI Technologies: “From Lease to Release” – April 2024 Alberta Expiring Land Report
XI Technologies looks at expiring land to provide useful business development intel for both service companies and exploration and production (E&P) companies alike. For service companies, expiring lands provide insight into where drilling activity is most likely to occur over the coming months, and who is behind it. For E&Ps, the expiring land report helps flag farm-in opportunities and/or land that may become available in your core area(s). According to AssetBook data, these are the [Read more]
XI Technologies: “Beyond the Barrel” – Sharing NGL Data
In the dynamic world of energy investment, information is not just power—it's profit. Every investor decision, whether in oil, gas, or a related sector, hinges on having access to accurate and timely data. This is especially true for those eyeing Alberta's energy landscape, a key player in North America’s energy sector. Recently, Alberta's Energy Regulator (AER) made a groundbreaking step by releasing Natural Gas Liquids (NGL) data, a move poised to revolutionize investment strategies and [Read more]
XI Technologies: Abandonment & Reclamation Across WCSB in 2023
With an ever-growing focus on clean-up within the oil and gas sector, it’s time to take our annual look back on liabilities reduction work across the Western Canadian Sedimentary Basin (WCSB). XI Technologies conducted an analysis of liability values and reclamation totals, comparing activity from 2022 to 2023, with the aim of obtaining a comprehensive overview of the status of oil and gas liabilities as of December 31, 2023. Liabilities Value The following information was compiled using [Read more]
XI Technologies: Transforming ARO Modeling with Database Innovation
In the fast-paced world of business where decisions are often made in the blink of an eye, accurate and efficient cost modeling is essential for sustainable growth and success. As energy producers strive to stay competitive, they must be smart with liabilities management. Asset retirement obligations (ARO) are managed best when data is consolidated, and robust cost modeling provides options for strategic investment. Today we explore the benefits of using a database for ARO cost modeling and [Read more]
XI Technologies: The Data Dilemma – Streamlining Liabilities in the Oil & Gas Industry
In the fast-paced and dynamic world of the oil and gas industry, companies face a constant challenge: managing and optimizing vast amounts of data while mitigating liabilities. The sheer volume and complexity of data can lead to a dilemma for organizations seeking to strike a balance between operational efficiency and compliance. The data dilemma in the oil and gas sector requires strategies to streamline liabilities through effective data management. The Data Dilemma in Oil and Gas: The [Read more]
XI Technologies: Fueling the Frontier – Canada’s Top 10 Producers of 2023
Twice a year, XI Technologies reaches into the public data stored in its applications to highlight the top companies who achieved the most successful production from new wells. To compare these results against previous years, check out our Production Top 10s blog history. Top Operators For "Productive" Drilling More important than the number of wells drilled, is the production achieved with those wells. Canadian Natural Resources Limited (CNRL) ranked first in 2023, followed by [Read more]
XI Technologies: H2S Success
In Alberta, prior to commencing drilling operations, operators are required to submit an H2S Release Rate Assessment to the Alberta Energy Regulator (AER), as outlined in Directive 056. The industry has the opportunity to utilize data for thorough due diligence, not only to ensure compliance but also to prioritize the safety and well-being of the public. The AER lays out requirements for an H2S release rate assessment in Section 7.7.15 of Directive 056: Energy Development Applications, [Read more]
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