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Weekly Canadian Oil & Gas Industry Highlights – March 13, 2017

March 13, 2017

Presented by POIM Consulting Group

Major /Interesting Projects

  • CANAMAX ENERGY 5 new Oil satellite – single or multiwall Batteries
  • Birchcliff Energy Ltd. Adding more compression capacity to  POUCE COUPE SOUTH Battery
  • Seven Generations Energy Ltd. Large Battery KAKWA 03-21-063-05W6
  • Trilogy Energy Corp Injection/disposal facility – water  02-09-064-18W5
  • Raging River Exploration Inc – water injection – Kindersley
  • CNRL 2-6-39-7W5 4 well pad


First Facility License Last 12 Months

  • BlackPearl Resources Inc._Bitumen battery_AB_01-12-056-02W4_Fishing Lake


First Well License Last 12 Months

  • Vital Energy Inc._Swift Current_04-29-013-19W3_LOWER SHAUNAVON MEMBER            


First Wells Drilled Since May 1 2016

  • Hunter Oil And Gas Ltd._Estevan_14-26-002-03W2_FROBISHER BEDS     
  • Entrada Resource Inc_WILLESDEN GREEN_16-19-042-06W5


Rigs First Time Drilling Since May 1 2016

  • Akita 29_Serafina Energy Ltd_04-24-046-18W3
  • Earth 43_FORT HILLS ENERGY CORPORATION_ 02-36-096-10W4
  • FUTURE 1_TEINE ENERGY LTD._06-14-032-23W3
  • Komat 3_Imperial Oil_08-07-077-11W4
  • Preditor 131_Cenovus Energy Inc._09-32-070-04W4
  • Terroco 3_Imperial Oil_6-31-76-11


Other News

  • Painted Pony Reduced 2017 capital spending to $288 million from previously announced capital budget of $319 million
  • Baytex 2017 production guidance range is 66,000 to 70,000 boe/d with budgeted exploration and development capital expenditures of $300 to $350 million.
  • Bellatrix retains flexibility in 2017 to balance infill development drilling and expanded core area development focused on adding production, increasing reserves, and enhancing our inventory of development drilling locations. 
  • TimberRock Energy announce that it has closed a $39 million financing
  • Seven Generations’ capital program in 2017 is weighted towards drilling and completions in the first half of the year plans to drill 100 to 110 wells Capital investment is forecast to be $1.5 billion to $1.6 billion.  Production facilities and infrastructure represent about one-third of the capital budget.
  • NuVista will continue drilling with five rigs until spring breakup and then reduce to approximately three rigs in operation for the second half of 2017 we expect 2017 capital expenditures to be at the higher end of our existing capital spending guidance range of $260 – $300 million.
  • Tourmaline 2017 E&P capital program is forecast to be $1.3 billion, which includes a 17-rig drilling program that will deliver 30% annual production growth
  • Trilogy plans to drill 15 horizontal Montney oil wells and complete 18 wells in 2017.  2017 capital budget of $130 million.
  • Gibson plans for 2017 with a range of spending between $150 million and $250 million, which includes a recently approved growth capital project to complete the initial civil and engineering work for an array of up to four new tanks on the east side of its Hardisty terminal.
  • Royal Dutch Shell plc: Shell Divests Oil Sands Interests in Canada for net Consideration of $7.25 Billion Marathon Oil Announces $2.5 Billion Canadian Oil Sands Divestiture to Canadian Natural Resources
  • Paramount’s 2017 capital program is expected to total approximately $325 million with about $200 million directed towards Karr-Gold Creek.  Development activities at Karr-Gold Creek are currently focused on a 27-well horizontal Montney drilling and completion program (the “Karr Program”).
  • Northern Blizzard Capital expenditures are forecast to be $60.0 million in 2017 drilling 66 gross wells. To date, 22 of 27 wells planned for Cactus Lake and 12 of 29 wells planned for Winter have been drilled
  • Athabasca Capital program of $240 million 20 gross wells expected to be drilled by April 2017.


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About POIM

It is difficult to sell to the Oil & Gas industry in the current economic environment if you want to increase revenue you need to increase market share. What is your sales Data Innovation strategy to grow market share? Do you know what accounts you need to target and are you making contact with the decision makers? Is your sales plan working?

POIM Consulting we help Oil & Gas Services companies increase market share through effective use Customer Relationship Management & Business Intelligence.

Contact POIM

Pat Hinds


POIM Consulting Group
450-29th Ave NW
Calgary, Alberta
T2M 2M3, Canada

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