The Montney has become, by far, the largest contributor to new gas and now contributes 34% of WCSB gas production (approximately 7 bcf/d). Perhaps more importantly, liquids production from the Montney (oil, condensate and NGLs) has risen from 70,000 to 150,000 bopd, significantly changing the economics of the play. Since Canadian Discovery Ltd.’s (CDL) 2014 Montney Hydrodynamics Study release, over 3,500 new wells have been completed in the Montney and significant new production fairways are [Read more]
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How a trucking company servicing the oil industry factored their receivables to finance significant growth
For Stacey Horlings at 6S Transport Ltd., a Raymond Alberta based trucking company servicing clients in a wide variety of industries including oil and gas, the timing was right. “Factoring with Capital Now has been instrumental in my ability to efficiently grow my business,” said Stacey. “My husband and I started the business half a year ago and early stage growth capital is absolutely crucial to establishing our business in an industry that is very competitive.” 6S Transport already has 15 [Read more]
PrairieSky Announces 2019 First Quarter Results
CALGARY, Alberta, April 22, 2019 (GLOBE NEWSWIRE) -- PrairieSky Royalty Ltd. ("PrairieSky" or the "Company") (TSX: PSK) is pleased to announce its first quarter ("Q1 2019") operating and financial results for the period ended March 31, 2019. PRESIDENT’S MESSAGE First Quarter 2019 Highlights: • Total revenues of $73.2 million, up 42% from $51.6 million in Q4 2018, comprised of royalty production revenues of $66.5 million and other revenues of $6.7 million for the first [Read more]
Canadian conservative stars cast shadow over Trudeau rival’s hopes
Right-leaning Canadian politicians have won important elections over the last year, but it may do Liberal Prime Minister Justin Trudeau more good in October's national vote than his little-known Conservative Party challenger.Andrew Scheer, 39, has struggled to become a household name since taking over as leader of the federal Conservatives in 2017, a problem not shared by the telegenic Trudeau, whose father led the country for more than 15 years.Last week, Alberta's United Conservative [Read more]
Acquisitions, insolvencies cited as drilling company count tumbles by 40%
CALGARY - A research report by AltaCorp Capital shows the number of companies actively drilling in Canada has declined by 40 per cent since the oil price crash of late 2014. The analysis cites industry data which shows only 26 drilling contractors have been working so far in 2019, 17 fewer than observed in 2014. It says consolidation is the biggest reason companies have disappeared, with seven companies holding about 17 per cent of market share being purchased over the period, including [Read more]
Youth, technology and sustainable energy development: this is the exciting future
Young people, we need you! The world needs you. Not to protest, but to build. Not to complain, but to solve. Not to panic, but to overcome. A movement has swept the world, stating that the future of humanity is threatened by climate change. You've seen it on the news, students have taken to the streets to protest environmental inaction. Greta Thunberg, the fearless 16-year old Swedish leader, has challenged the world's elite to stop stalling, to "feel panic like I do." What's that about? [Read more]
NCS Multistage announces the grand opening of their Technology Center, located in Southeast Calgary
Calgary, Alberta – Join NCS Multistage for the grand opening of their new Technology Center, 9:00 am until 4:00 pm on Wednesday, April 24. This is an opportunity to see behind the curtain of NCS Multistage technology development. Tours of the facility will last approximately one hour, and there will be mini-workshops covering the following topics: Reservoir Strategizing What about your Reservoir Tool Evolutions Take a one-time peek behind the curtain Plug Training [Read more]
Jason Kenney, Rachel Notley begin formal transfer of power in Alberta
EDMONTON - Premier Rachel Notley and incoming premier Jason Kenney began the formal transfer of power in Alberta on Thursday, with Notley saying Kenney is already getting real-life lessons on the difference between political grandstanding and governing. The NDP's Notley said that since the United Conservative leader won Tuesday's Alberta election, Quebec has rebuffed his public pitch to accept new pipelines and the B.C. government officially endorsed this week a federal bill to formalize [Read more]
Canada Weekly Rig Count Remains at 66
Western Canada’s fleet of drilling rigs remained at 66 according to data collected by Baker Hughes for the week of April 18th. From last Friday, Alberta rig counts remained at 48. Saskatchewan's rig count remained at 1 Oil drilling went from 18 to 19; natural gas rigs went from 48 to 47. View a full breakdown of western Canada’s rig activity. [Read more]
Lower price discounts to boost Q1 oil profits but uncertainty hangs over sector
CALGARY - Lower discounts on western Canadian oil prices have swollen producer coffers in the first three months of the year, but analysts say they don't expect to see increases in drilling budgets as oil and gas companies report results over the coming weeks. Cenovus Energy Inc. reports its first-quarter results on Wednesday, followed by fellow oilsands producers Husky Energy Inc. and Imperial Oil Ltd. at the end of next week. U.S. benchmark West Texas Intermediate spot prices [Read more]