Below you'll find a list of all posts that have been categorized as “The Well Street Journal”
Despite a mixed bag of crude pricing activity which saw Brent and WTI rise and WCS decline, the average Canadian active rig count in Q4 2019 fell to 138 rigs versus 179 rigs in Q4 2018, representing a decrease of 23%. Despite some volatility, there are reasons for optimism, as analysts are seeing investor interest return to our country’s energy …
Crude pricing continued to decline quarter over quarter while the average Canadian active rig count in Q3 2019 fell to 132 rigs versus 209 rigs in Q3 2018, representing a decrease of 37%. In Canada, activity continues to be restricted due to limited takeaway capacity and consequently government mandated curtailments. The impact of these obstacles is amplified by a perception …
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 …
