When I visited Calgary last fall, the signs of a dramatic decline in Alberta's new natural-gas activity were strongly in evidence. Now that full-year statistics are being published, it's clear that operators throughout Canada were buffeted by the same forces. 2007 was a brutal year for Canadian gas drillers. High costs and not-so-high commodity prices, coupled with changes in Alberta's fiscal policies toward the oil and gas industry, and the strength of Canada's dollar, combined to send well permits off a steep cliff. Last year, just 12,740 licenses for gas wells were issued in Canada, a 5,530-well plummet from 2006 permits. Conventional oil and bitumen drilling also fell in 2007, but the decline was less severe. A total of 6,486 permits were issued for oil-prone targets, a 10% drop from the prior year. Alberta, British Columbia, Saskatchewan and Manitoba all experienced substantial losses in permits filed. The only increases were in regions with extremely light activity anyway: Northwest Territories, New Brunswick and Prince Edward Island. --by Peggy Williams, Senior Exploration Editor, Oil and Gas Investor. Contact me at firstname.lastname@example.org
DUG Haynesville: Bob Barba Sells Refracs to Extend Wells, Protect Parent Wells [WATCH]
2023-03-29 - In an exclusive interview, Bob Barba, president and CEO, Integrated Energy Services Inc., sees hesitancy around refrac-ing vintage wells, despite revitalizing older wells and even those consigned to plugging and abandonment in the Haynesville and Eagle Ford shale and, particularly, the Permian Basin.
DUG Haynesville: E&Ps Keeping Production Flat, Hedging Amid Gas Price Slump
2023-03-29 - Executives from E&Ps such as GeoSouthern Energy and New ASEAN Energy said they are adjusting drilling and hedging strategies in the Haynesville Shale after a rapid collapse in U.S. natural gas prices.
Marketed: FX Energy Group 6-Well Package
2023-03-29 - FX Energy Group LLC retained EnergyNet for a 6-well package plus 2,042.46 Net HBP leasehold acres in Hartley and Oldham Counties, TX.
Sunverge, Eaton Announce Collaboration on Home EV Charging Infrastructure
2023-03-29 - Sunverge Energy’s virtual power plant platform and Eaton’s electric vehicle charging solutions will enable utility management for home charging.
A&D Minute: International Players Take Interest in US Shale [WATCH]
2023-03-29 - Also in this week’s A&D Minute, Super Energy Services considers potential merger acquisitions and CorEnergy plans to sell two natural gas midstream systems.