Stay ahead of the competition with our Western Canada Oil & Gas Reports Bundle. This comprehensive package includes: Purchase Now ✅ Account List – Key operators ✅ New Well Permits (Last 12 Months) – Track upcoming projects✅ Wells Drilled (Last 12 Months) – Identify active players✅ Active Drilling Rigs (Last…
The Western Canadian oil and gas industry has witnessed fluctuations in rig activity over the past year. Comparing data from the last 30 days with the same period in 2024 provides valuable insights into trends shaping the sector. This analysis focuses on three key areas: rig count by province, activity by field centre, and the top 10 accounts by record count.
Cenovus achieved industry-leading steam-to-oil ratio (SOR) efficiencies, with Christina Lake at ~2.1 and Foster Creek at ~2.3, significantly lower than the industry average (~3.0+), reducing fuel costs and increasing production. These efficiencies contributed to record Oil Sands production (628,500 BOE/d in Q4 2024) by maximizing bitumen recovery while minimizing steam usage and operating expenses.
The latest Baker Hughes rig count shows a significant boost in U.S. drilling activity, with Oklahoma adding five rigs, marking its highest count since May 2023. This increase contributed to a four-week uptrend, pushing the total U.S. rig count to 592, the highest since June 2024.
Geologists in this role are responsible for analyzing subsurface geological formations to identify, evaluate, and develop oil and gas reserves. Their work involves a combination of exploration, development, and operational support, utilizing advanced geophysical and geological techniques.
Precision Drilling recently released its Q4 2024 and year-end financial results, providing insights into its performance across the U.S., Canada, and international markets. While U.S. operations faced headwinds, the company remains focused on efficiency improvements, technology integration, and strategic investments to position itself for long-term success. Additionally, extended reach lateral…
Chevron CEO Mike Wirth recently appeared on CNBC’s Power Lunch with Brian Sullivan, where he shared his perspective on the current and future state of energy production. His remarks provided valuable insights into the role of U.S. liquefied natural gas (LNG), the growing demand for American gas, and the long-term transition of the global energy system.
Vital Energy’s commitment to efficiency and disciplined financial management has positioned it as a leading operator in the Permian Basin. The company’s ability to integrate acquisitions, lower costs, and improve production efficiency ensures a strong outlook for 2025 and beyond.
SM Energy (NYSE: SM) continues to strengthen its position in the Midland Basin, one of the most productive oil and gas regions in the U.S. The company’s 2024 operational success and 2025 strategic plan highlight key efficiency gains, cost optimizations, and growth initiatives that position SM Energy for sustained profitability and shareholder returns.
Devon Energy (NYSE: DVN) closed 2024 on a high note, delivering record oil production, strong free cash flow, and disciplined capital allocation. A key theme in their Q4 2024 earnings report was efficiency improvements, particularly in the Delaware Basin and natural gas portfolio optimization.
