Major energy companies now have a host of elements to balance and navigate.

For the short-term, Canadian producers “have some comfort” that currently there is enough oil and gas egress, says Tristan Goodman, president and chief executive officer, Explorers and Producers Association of Canada (EPAC), but that will not account for LNG growth, and long-term takeaway capacity will have to increase.

There is a current focus on shareholder returns for energy companies, with pay structures incentivizing such goals, says Waqar Syed, managing director, energy technology and services, head of research, ATB Capital Markets.

Drilling rig activity in Western Canada and the Top 10 active operators as of May 27, 2022 as reported this morning by Rig Locator.

The U.S. rig count is down one from last week to 727 with oil rigs down two to 574, gas rigs up one to 151 and miscellaneous rigs unchanged at two.

Razor Energy Corp.’s production volumes for the first quarter of 2022 averaged 4,457 boe/d, representing an increase of 48 per cent from the first quarter of 2021 and a two per cent increase from the last quarter of 2021.

Razor Energy Corp. has appointed Michael Blair to the position of chief operating officer.

Repsol Oil & Gas Canada Inc., (formerly known as Talisman Energy Inc.), announced that it has issued notices of redemption to redeem, on June 28, 2022, all of its issued and outstanding 5.75 per cent senior notes due 2035, 5.85 per cent senior notes due 2037, 6.25 per cent senior notes due 2038, 5.50 per cent senior notes due 2042, and 7.25 per cent debentures due 2027.