The leadership of many oil & gas producers can significantly widen the application of predictive analytics to achieve value from the digital data their company collects and manages. I’ll illustrate how predictive analytics achieves business value for oil & gas producers through the following five examples along the upstream oil & gas well life cycle: Reducing exploration risk. Creating development scenarios. Controlling drilling and completion costs. Improving [Read more]
Headlines
InPlay Oil Corp. announces 2021 capital budget and guidance and provides an operations update with production guidance exceeding pre-COVID 2019 production levels
CALGARY, Alberta - InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) is pleased to announce that its Board of Directors has approved a $23 million capital program for 2021 with forecast average production of 5,100 – 5,400 boe/d (69% oil and liquids). InPlay enters 2021 coming out of one of the most challenging years that our industry has experienced as a result of the price capitulation (with 2020 West Texas Intermediate (“WTI”) averaging USD $39.30/bbl) and capital [Read more]
The US Capitol occupation – A cautionary tale
The biggest lesson of 2021 is now “Before we launch into disruption- We should contemplate how hard it will be to restore order.” History was made yesterday as protestors took control of the U.S. Capitol. It was something that leaders and media thought could never be done, although MSNBC journalist Brian Williams pointed out that there were warnings in plain sight. It was beyond democratic process, beyond what we could even contemplate could happen in North America and there is a deeper [Read more]
Oil steady after U.S. Capitol drama; tighter supplies in focus
Oil prices were steady on Thursday after supporters of President Donald Trump stormed the U.S. Capitol, with investors focusing on the likelihood of tighter supplies after Saudi Arabia unilaterally agreed to cut output. U.S. West Texas Intermediate (WTI) gained 24 cents to $50.74, having slipped earlier in the Asian session. The contract rose 1.4% on Wednesday. Brent crude was up 20 cents at $54.35 a barrel after gaining 1.3% overnight. Saudi Arabia, the world's biggest oil exporter, [Read more]
Shell and Pieridae rekindle well transfer attempt
Early in 2020, Shell initiated a well license transfer with the AER to transfer licenses of deep sour gas wells and pipeline licenses to Pieridae Energy, which was subsequently blocked by the AER, saying it went against the intent of environmental laws. Once again, this time early in 2021, Shell is trying to offload wells and pipeline licenses on to Pieridae. Terms of the sale would have seen Shell responsible for existing contamination, and Pieridae on the hook for future problems of the [Read more]
Kelt releases inaugural ESG report
Calgary, Alberta - Kelt Exploration Ltd. (TSX: KEL) ("Kelt" or the "Company") is pleased to announce the release of its inaugural ESG Report, dated January 7, 2021, as part of its ongoing commitment to health and safety, responsible and sustainable resource development, good governance practices and community engagement. The ESG Report highlights many of the Company's achievements, including a 25% reduction in injury-related incidents in 2019, compared to the previous year; a 25% reduction in [Read more]
Briko Energy Corp. announces management changes and initiation of strategic alternatives process
Calgary, Alberta - Briko Energy Corp. ("Briko" or the "Corporation") announces management changes and initiation of a strategic alternatives process. MANAGEMENT CHANGES John H. Van de Pol, President & CEO, has advised Briko's Board of Directors (the "Board") and executive team of his intention to step down as President & CEO effective March 15, 2021 but will continue to remain as a member of the Board. Mr. Van de Pol has been a key member of the executive team and has provided [Read more]
Advantage announces operational update, step change in well productivity
CALGARY, AB - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to provide an operational update, including a step change in well productivity combined with reduced capital costs. All development in the second half of 2020 was focused on the foundational Glacier asset, using existing infrastructure and owned plant capacity, with a focus on highest internal rate of return wells. Development Program Highlights from the Second Half of 2020: Drilled 13 wells with [Read more]
Suncor restarts Fort Hills oil sands mining operations
Canada's Suncor Energy Inc has restarted operations at its Fort Hills oil sands mine in northern Alberta, a company spokeswoman said on Wednesday, after operations were halted last week following the deaths of two workers in a vehicle collision. "We have started a slow and safe restart at our Fort Hills operation and are prioritizing the safety and wellbeing of our people through this process," spokeswoman Lauren King said in an email. Suncor paused mining operations on Dec. 28 after a [Read more]
Canada’s oil sands hit record high production
Canada's oil sands production hit a record high in November, according to the latest regulatory data, and will likely continue to rise as producers ramp up output following the end of provincial government production curtailments in Alberta. Northern Alberta's oil sands account for roughly two thirds of crude output from Canada, which is the world's fourth-largest oil producer. Canadian producers, like their counterparts globally, endured a torrid 2020 as the COVID-19 pandemic hammered fuel [Read more]