If you’ve read news lately about the Canadian oil & gas sector there’s a strong sense that Canada is falling behind. As Canada struggles—hamstrung by pipeline bottlenecks, the loss of billions of dollars in capital investment, falling prices, and a lack of competitiveness—the Permian and other high producing plays south of the border hog the limelight, resulting in rivals meeting market demand instead.
The Bank of Canada predicts that capital spending in the oil and natural gas sector will fall by as much as 12 per cent in 2019 with the sector’s share of Canadian capital spending falling to 11 per cent of the national total by 2020 – down from 30 per cent in 2014.
Yet, rather than simply being bystanders, there’s more that the Canadian oil & gas sector can do themselves.
In a recent CBC news article in Energy Now – ‘Canadian energy companies are frustrated, but can’t just stay home and lick their wounds’ – the author went as far as to suggest there has been a:
“lack of effort put into telling Canada’s energy story at home and abroad” and that “Canadian companies need to work harder to get on the radar screen of the technology and software companies already partnering to offer solutions to the major players.”
One company, Drillinginfo, offers comprehensive and current oil and gas data and insights for the entire upstream, midstream, and downstream supply chains. Canada is firmly in Drillinginfo’s sites as well, with comprehensive Canadian rig data also available in the Drillinginfo platform.
The Drillinginfo platform provides offers the most current datasets on rigs, permits, production, and completion activity for four Canadian provinces – Alberta, Saskatchewan, BC, and Manitoba. With the latest drilling activity, oil and gas companies get a holistic view of drilling and production activity to make better business decisions.
Armed with of-the-moment data such as the most current production volumes, rig and permitting activity, mergers and acquisitions, and automation solutions for back office processes, Canadian companies can help reinject some much needed momentum into the national oil & gas sector and ensure they remain competitive.
Use case examples vary among different segments using Drillinginfo solutions but they all have one thing in common—every company that touches the oilfield is looking for a way to play competitively in the market. Oilfield service companies find business leads faster and more effectively through access to the latest market intelligence and highly customized reports focusing on specific parameters and areas of interest (AOI). Midstream looks at state of the art decline curve technology to assess PDP and future PUD potential in a matter of minutes to forecast future production volumes, and E & P companies can use the analytics to track expiring leases and pinpoint the best acreage in the world’s hottest plays.
Midstream companies use the Drillinginfo platform to view competitor activity around a specific area of interest.
Make no mistake. There are still opportunities to be had. Local companies, such as ARC, Encana and Husky, as well as international companies, such as Chevron, Progress Energy, Murphy and Shell, are continuing to generate profitable new business opportunities in fast growing plays, such as Montney and Duvernay. The completion of pipeline projects, such as the Trans Mountain Pipeline, Keystone and Enbridge Line 3, will also ensure additional future capacity in getting oil & gas to market.
There’s no doubt that the Canadian oil & gas sector is facing challenging times, making it more important than ever that it continues to be talked up and the still multiple opportunities identified and acted upon.
Drillinginfo is doing just that, dramatically improving the speed and quality of vital information flows on the Canadian market, ensuring that the sector and its opportunities remain in the limelight, and enabling Canadian oil & gas companies to stay competitive.
In the words of American writer Mark Twain, “the reports of my death are greatly exaggerated.” The reset for the Canadian oil & gas sector has begun!
Drillinginfo delivers business-critical insights to the energy, power, and commodities markets. Its state-of-the-art SaaS platform offers sophisticated technology, powerful analytics, and industry-leading data. Drillinginfo’s solutions deliver value across upstream, midstream and downstream markets, empowering exploration and production (E&P), oilfield services, midstream, utilities, trading and risk, and capital markets companies to be more collaborative, efficient, and competitive. Drillinginfo delivers actionable intelligence over mobile, web, and desktop to analyze and reduce risk, conduct competitive benchmarking, and uncover market insights. For more information visit drillinginfo.com.