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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.
News
The Daily Oil Bulletin is launching a new print and online magazine to add value to its existing suite of products.
In total, 19 producers managed to add 100 bcf or more of proved gas reserves through drilling in 2014, up from 14 producers the prior year.
The countdown is on for the oilsands industry’s first carbon capture and storage (CCS) project, a million tonnes of CO2 per year facility that is expected to start up later this year at Shell Canada’s Scotford Upgrader.
Editors’ Blogs
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Current Rig Activity
PROVINCE ACTIVE DOWN TOTAL
AB 67 460 527
SK 29 101 130
BC 15 67 82
MB 0 15 15
QC 0 1 1
Canada 111 644 755
Oil & Gas Prices
NYMEX-WTI
USD 57.68 / BBL
NYMEX Natural Gas
USD 2.71 / MMBTU
AECO/NGX Spot Price
CAD 2.50 / GJ
This Month in Oilpatch History
KLINTAR OILS LIMITED has indicated crude oil success from the Cardium sand at a well in the Keystone area of central west Alberta and has…
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