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First—the good news. Although many oilsands developers are cutting their capital budgets, projects well under way will not only survive current and expected low oil prices but will also see their costs fall, say industry analysts.
The 2015 winter drilling season is over, and it’s been a bad one across the board for western Canadian service companies.
Crude-by-rail has emerged as a critical piece of the energy transportation landscape in North America, enabling meaningful growth in market access despite pipeline projects being stalled in the regulatory process. But the benefits of the opportunity don’t have to end with producers and rail operators: an Alberta government official sees a possible opportunity for market diversification for oilsands manufacturers, too.
On the heels of its weakest bonus in at least 20 years in April of $203,533, the British Columbia government followed that up with another very weak auction of $252,840 at its May sale held last week.
Over the first four months of 2015, the total average length of wells drilled in western and northern Canada lifted to 2,593 metres from 2,247 metres the prior year.
Evaluate Energy is delighted to announce the launch of its latest oil and gas industry tool, Deal Analytics.
Editors’ Blogs
Current Rig Activity
AB 61 465 526
SK 29 102 131
BC 16 66 82
MB 0 15 15
QC 0 1 1
Canada 106 649 755
Oil & Gas Prices
USD 59.72 / BBL
NYMEX Natural Gas
USD 2.89 / MMBTU
AECO/NGX Spot Price
CAD 2.65 / GJ
This Month in Oilpatch History
The WARTIME OILS-backed CALMONT No. 1A well, in lsd 10 35-19-3w5th on the Central West Flank of TURNER VALLEY, completed drilling on May 7th…
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