Below you'll find a list of all posts that have been categorized as “The Well Street Journal”
Crude pricing decreased moderately quarter over quarter while the average active rig count in Q2 2019 fell to 88 rigs versus 108 rigs in Q2 2018, representing a decrease of 18%. In Canada, activity continues to be restricted due to limited takeaway capacity and consequently government mandated curtailments. As a result, operators are disincentivized to increase production. That said, the …
While pricing improved quite significantly over the course of the first quarter of 2019, the average active rig count in Q1 2019 was 183 versus 269 in Q1 2018 – representing a 32% decrease year over year. Unfortunately, the downward pricing momentum experienced at the end of 2018 resulted in operators reducing their budgeted capital expenditures and drilling programs for …
Following a rough December for Canada’s oil and gas industry, January brought reasons for cautious optimism. WTI prices were up 18% on the month while WCS prices soared by 49%, driven by continued production cuts and a global shortage of heavy oil. Pricing gains were also reflected in the market, as Canadian OFS equities were up nearly 15% compared to …
Much can be said about the state of the energy industry in Canada during 2018, but few could dispute it was a roller coaster ride throughout. Prices and activity levels climbed steadily in the first half of 2018, with many (including ourselves) predicting better days ahead for the industry. Instead, transportation bottlenecks and global economic concerns hammered the industry in …
Followed by a tough October, November also proved to be challenging for the energy industry – not just within Canada, but globally too. Certainly, Canada is dealing with its own challenges right now; however, WTI prices were down 22.0% month-over-month to the end of November whereas Canadian oilfield service equities were only down 9.4% over that same period. While it …
