Oil Field News

Daily Drilling Licenses Issued

February 26, 2015 Click here for a complete list of licenses issue

Drilling Activity Report

March 4, 2015
Active Down Total % Active
Western Canada
AB 159 373 532 30%
SK 41 97 138 30%
BC 49 29 78 63%
MB 8 8 16 50%
WC Total 257 507 764 34%

Canadian Oil Sands Output Growth Defies Plunge in Prices: Energy

Athabasca Oil Sands
A machine works at the Suncor Energy Inc. mine in this aerial photograph taken above the Athabasca Oil Sands near Fort McMurray, Alberta, Canada, on June 19, 2014. While production from forests of Northern Alberta started in the 1930s, output didn’t ramp up until the late 1960s and 1970s after companies including Suncor Energy Inc. and Syncrude Canada Ltd started operation. Photographer: Ben Nelms/Bloomberg

The deluge of Canadian oil that’s adding to a global glut and driving prices lower is showing few signs of slowing.

Cenovus to Cut 800 Jobs, Freeze Wages After Oil Slide

Cenovus Energy Inc., the fourth-largest Canadian oil producer, will reduce its workforce by 15 percent, the first time in the company’s history it has cut jobs, to tackle an oil-price slump.

Southeast Leads in Land Sales Again

oil-pumpjackFile Photo

The numbers from the first land sale of the year are in, and once again, southeast Saskatchewan is leading the province. The Weyburn-Estevan area received the most bids.

The sales totalled more than $8.3 million. Of that amount, $2.7 million was spent by one company for 10 parcels, according to Royce Reazley, the manager of Crown Sales for the province.

"The top purchaser of acreage in this area was STOMP Energy Limited," Reazley said. The most for one parcel was just under $1.1 million. "This was for a 146 hectare parcel located withing the Pinto-Midale-Frobisher oil pools."

The next sale of Crown oil and gas rights is in April.