Western Canadian oilfield service companies expect drilling and completion activity to gain more ground in 2022 but are not anticipating a huge spike as the exploration and production sector is expected to maintain an emphasis on financial discipline, reports the DOB’s latest guidance report.
The Petroleum Services Association of Canada (PSAC) expects a total of 5,400 wells (rig releases) in Canada in 2022.
While specifics of the 2022 budget are still being finalized, Peyto Exploration & Development Corp. is currently contemplating a 2022 capital program of $350-$400 million, inclusive of a 15 per cent provision for cost inflation.
With winter fast approaching and demand about to increase, Peyto Exploration & Development Corp. says strong natural gas prices in North America, a steady stream of drilling and the company’s growing production will continue to drive strong financial and operational results.
Canadian Natural Resources Limited is acquiring all the issued and outstanding common shares of Storm Resources Ltd. for a cash consideration of $6.28 per share.
The Alberta government has come a long ways on the clean hydrogen file over the past year or so.
The B.C. government is seeking public input on the design of a new oil and gas royalty system.
Drilling rig activity in Western Canada and the Top 10 active operators as of Nov. 10, 2021 as reported this morning by Rig Locator.
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Peyto Exploration & Development Corp. says a steady stream of drilling and completion activity throughout the third quarter in its Deep Basin core areas resulted in continuous production growth from 86,500 boe/d at the start of July to 94,000 boe/d by the end of September.
The board of directors of Peyto Exploration & Development Corp. has announced the appointment of Jean-Paul (J.P.) Lachance to the position of president, in addition to his current role as the chief operating officer of Peyto.
Pipestone Energy Corp. generated record revenue for Q3 2021 due to continued production growth, combined with improving commodity prices during the quarter, and the company is increasing its full-year capital budget.
Vermilion Energy Inc. anticipates a 2022 capital program in the range of $400 - $450 million with production at a similar level to original 2021 guidance of 83,000 to 85,000 boe/d.
Kelt Exploration Ltd.’s board of directors has approved an increase to the company's capital expenditure program for 2021.
Kelt Exploration Ltd.’s Q3 2021 petroleum and natural gas sales were $75.8 million and adjusted funds from operations was $36.3 million compared to $48.8 million and $9.0 million, respectively, in the third quarter of 2020.
NuVista Energy Ltd. is shifting a small amount of 2022 capital spending into the fourth quarter of 2021 in order to maintain a smooth, unbroken three-rig drilling schedule and to optimize value.
The world is in an inflationary environment right now, noted NuVista Energy Ltd., and the control of costs and assurance of reliable supply of people and equipment is of high importance.
Rubellite Energy Inc.’s board of directors has approved fourth quarter 2021 capital expenditures of $16 to $18 million, an increase of $6 to $8 million from previous guidance released Sept. 7, 2021.
Tidewater Midstream and Infrastructure Ltd. is experiencing strong fourth quarter results, thanks to improved producer activity, increased volumes and refined product demand, as the company also reported strong results for Q3 2021 — the quarter in which the company spun out its new subsidiary, Tidewater Renewables Ltd.
Northern Petrochemical Corporation has announced plans to establish a multibillion-dollar carbon-neutral ammonia and methanol production facility in the Municipal District of Greenview.
InPlay Oil Corp.’s production for the third quarter of 2021 set another quarterly record for the company averaging 6,011 boe/d (64 per cent light oil & NGLs).
Bonterra Energy Corp. continues to reduce its decommissioning liabilities with support of the Alberta Site Rehabilitation Program (SRP).
Bonterra Energy Corp. averaged 12,542 boe/d of production in Q3 2021, 25 per cent higher than in Q3 2020, and 12,389 boe/d in the first nine months of 2021, a 15 per cent increase over the comparative period the prior year.
Journey Energy Inc. plans on returning to the field in early 2022 and this should increase both production and the oil weighting to pre-pandemic levels over time.
Journey Energy Inc. has been able to take advantage of the Site Rehabilitation Program (SRP) whereby government funds are provided to industry to complete abandonment work.
Baker Hughes and Shell Global Solutions BV have signed a broad strategic collaboration agreement to accelerate the global energy transition by helping each other achieve their respective commitments for net-zero carbon emissions and advancing solutions to decarbonize energy and industrial sectors, the companies said in an announcement.
Hyzon Motors Inc., a supplier of hydrogen-powered fuel cell electric vehicles, and TC Energy Corporation announced an agreement to collaborate on development, construction, operation, and ownership of hydrogen production facilities (hubs) across North America.
Essential Energy Services Ltd. has appointed Felicia Bortolussi to its board of directors.
AKITA Drilling Ltd.’s operating days increased to 1,169 in the third quarter of 2021 compared to 531 in the third quarter of 2020.