The following article is part three in a three part series discussing upstream operating models. View part two here. At $100 oil, the most important cost for many operators was the opportunity cost of foregone barrels – this provoked great interest in basins and plays with higher IPs (e.g. Bakken, Eagle Ford) and operational excellence initiatives to speed well-delivery (e.g. Lean Production Systems, Theory of Constraints, Six Sigma, etc.). Indeed, it seemed that “Jonah” was back! :) But [Read more]
Headlines
Prairie farmers take financial hit as oil and gas slowdown stalls drilling rigs
CALGARY - For 56-year-old farmer Shannon Webb, waking up Friday to six inches of snow coating his grain fields near Wynyard, Sask., the frustration of an interrupted harvest wins out, for now, over worry about the ongoing oil-and-gas drilling downturn. Like many Prairie farmers, Webb has used a steady paycheque from working on drilling rigs in winter and summer for decades to pay down his land and equipment debt and stabilize his farm income. He's been able to leave the rig to tend his [Read more]
This week’s new oil and gas jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up here to create an account to post jobs; it's simple and easy to use. Control Room Operator North West Redwater Partnership is a joint venture between North West Upgrading Inc. and Canadian Natural Resources Limited, with each company owning 50% stake in the Partnership. The Partnership [Read more]
Trilogy Energy Corp. Announces Crude Oil Emulsion Release in Kaybob Area
CALGARY, ALBERTA--(Marketwired - Oct. 7, 2016) - Trilogy Energy Corp. (TSX:TET) ("Trilogy" or "the Company") is responding to a crude oil pipeline leak in the Kaybob area of central Alberta. In the afternoon of October 6, 2016, Trilogy discovered a leak in one of its crude oil pipelines within its Kaybob Montney Oil Development, approximately 15 kilometres from the Town of Fox Creek. The Company's emergency response plan was activated, applicable regulatory bodies and third parties were [Read more]
‘Saskatchewan’s interests:’ Premier mulls legal options on federal carbon tax
REGINA - Saskatchewan Premier Brad Wall came out swinging Friday against the federal government's intention to impose a carbon tax, questioning whether it would be legal and whether Ottawa did its homework before announcing its plans. "This is a fight for Saskatchewan's interests," Wall said at the legislature. The federal plan announced this week by Prime Minister Justin Trudeau calls for a $10-per-tonne tax on carbon starting in 2018 and increasing to $50 per tonne by 2022. [Read more]
Saturn Minerals Inc. Announces Non Flow-Through Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 7, 2016) - Saturn Minerals Inc. (TSX VENTURE:SMI)(FRANKFURT:SMK) ("Saturn" or the "Company") is pleased to announce a private placement of up to 10,000,000 units (the "Units") at a price of $0.10 per Unit for gross proceeds of up to $1,000,000. Each Unit consists of one common share (the "Shares") and one-half of a share purchase warrant (the "Warrants"). Each whole Warrant will entitle the holder to purchase one additional common share, [Read more]
A Built-for-Purpose E&P Low-Cost Operating Model?
The following article is part two in a three part series discussing upstream operating models. View part one here. Organizational capabilities are the lifeblood of an enterprise. In the E&P sector this includes positional assets, such as acreage. The portfolio of subsurface resources is a critical piece of the puzzle, but organizational capabilities go far beyond positional assets – they also include intangible assets, such as expertise. The case of Mitchell Energy and its commercial [Read more]
XI Technologies – Free Seminar on AssetBook: The Industry Leader for A&D Scoping
XI Technologies (XI) is pleased to announce a series of free seminars on A&D scoping through the AssetBook, a high level summary of all working interest land and production in Western Canada. This event will be of significant value for professionals involved in acquisitions and divestitures, both operators and financial institutions, as we will cover the following: Identify public and private companies for corporate mergers or non-core property deals Identify public companies that [Read more]
Baker Hughes Announces September 2016 Rig Counts
HOUSTON--(BUSINESS WIRE)--Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for September 2016 was 934 down 3 from the 937 counted in August 2016, and down 206 from the 1,140 counted in September 2015. The international offshore rig count for September 2016 was 221, down 7 from the 228 counted in August 2016, and down 47 from the 268 counted in September 2015. The average U.S. rig count for September 2016 was 509, up 28 from the 481 counted in August [Read more]
Corridor Enters Into Financial Hedge
HALIFAX, NOVA SCOTIA--(Marketwired - Oct. 7, 2016) - Corridor Resources Inc. ("Corridor") (TSX:CDH) announced today that it has entered into a financial hedge for the period from December 1, 2016 to March 31, 2017 for 2,500 mmbtu per day of natural gas production (approximately 2.3 mmscf per day) at a fixed price of $US6.50/mmbtu. All amounts referred to in this press release are in Canadian dollars unless otherwise stated. Corridor's strategy is to maximize its field operating netback by [Read more]