I had a weird reference sheet that I carried around forever, one that represented a chink in the armour of academia. It was a photocopy of a page from a manufacturing cost accounting textbook I kept from university days. The page contained a cost-volume-profit problem about a washing machine manufacturer. If the manufacturer used a cheaper component, profit margin would increase by a certain percent, but sales would go down because the machines were less reliable. It was a simple profit vs. [Read more]
Headlines
Enbridge begins building road to pipeline fire site in British Columbia
Enbridge Inc said on Sunday it has started work on a temporary access road to the site of a natural gas pipeline fire last week in northern British Columbia, which disrupted refinery operations in the U.S. state of Washington. "We expect this activity will take a few days to complete. This work is necessary to mobilize construction crews and equipment to the site, which will be used to repair the 36-inch pipeline," it said in a statement. The company, however, said it could not [Read more]
The Government of Canada needs to pause and review its plans for Bill C-69 in order to get it right for Canadians
CALGARY, Alberta, Oct. 15, 2018 (GLOBE NEWSWIRE) -- The Canadian Association of Petroleum Producers (CAPP) is asking the federal government to pause and review its plans for Bill C-69 and further consider the long-term impacts to the country and Canadians. By working collaboratively with the oil and natural gas industry and other stakeholders, the government can make the Bill what Canada needs it to be – a framework for an efficient process that maintains high environmental standards and in [Read more]
A Measurement Revolution: Chart-Reading, Schematics, and Meter Calibration
Many oil and gas companies are facing challenges when it comes to innovation and adopting the latest technologies. In a world of artificial intelligence, computer visioning, and cloud computing, the oil and gas industry still largely depends on paper schematics, conventional post, and physical charts for their measurement needs. Chart reading is critical to operations, yet dozens of companies still use traditional, physical charts to record crucial measurements. This traditional process of [Read more]
Cold Bore Technology Inc. Announces Financing by Rice Investment Group and New Director Appointment
Calgary, Alberta October 15, 2018 – Cold Bore Technology Inc. (“Cold Bore” or the “Company”) is pleased to announce the closing of an investment by Rice Investment Group (“RIG”) as well as the appointment of Toby Rice to the Board of Directors. Cold Bore is a global leader in fracturing optimization software, developing the first Industrial Internet of Things based Electronic Completions Recorder and remote frac operating system deployed by Cold Bore’s SmartPADTM service. The Company’s [Read more]
BOEReport.com welcomes former Saskatchewan Premier Brad Wall as new contributor
BOEReport.com is pleased to welcome former Saskatchewan Premier, Brad Wall as its latest contributor. Mr. Wall's monthly column will feature his thoughts on a wide range of topics important to BOEReport.com's audience. Canoe Financial is pleased to be the presenting partner for Mr. Wall's monthly column. Mr. Wall served as the 14th Premier of Saskatchewan from 2007 to 2018 and is currently a special advisor to Osler, Hoskin & Harcourt LLP. "I am honoured to be a part of [Read more]
Column: Is oil and gas slow to adopt state-of-the-art information technology?
Between the two of us, a friend and I have spent almost an entire career in the oil and gas industry even though we’re not engineers or geologists or lawyers or accountants. We’re information technology (IT) guys. We discovered early, and were reminded often, that IT is not a core function of oil and gas companies. They are largely driven by geology and engineering with everything else more-or-less tied for last. When starting, you make your bundle by finding the black, shiny stuff and bringing [Read more]
Canada Weekly Rig Count Up 13 to 195
Western Canada’s fleet of drilling rigs decreased to a total of 195 according to data collected by Baker Hughes for the week of October 12th. From one week ago, Alberta rig counts went up 4 to 130. Saskatchewan's rig count increased from 33 to 41. Oil drilling went from 119 127; natural gas rigs increased from 63 to 68. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. drillers add oil rigs for first week in four
The U.S. oil drilling rig count rose this week for the first time in four weeks even as crude prices tumbled to their lowest in almost three weeks. Drillers added eight oil rigs in the week to Oct. 12, bringing the total count to 869, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. The increase is the biggest weekly gain since mid August. The U.S. rig count, an early indicator of future output, is higher than a year ago when 743 [Read more]
Some natural gas flows to curtailed customers after pipeline blast: FortisBC
VANCOUVER - The long process of restoring natural gas service to industrial customers in British Columbia is underway after an explosion earlier this week near Prince George that shut down two pipelines. A statement posted on the website of FortisBC, the utility that distributes gas to about one million B.C. homes and businesses, says work to bring industrial customers back online began Thursday night and will continue, on a gradual basis, through the weekend. Specific businesses [Read more]