During traditional peak of the drilling season, 33 rigs were making hole in Saskatchewan
ESTEVAN – Right around now is historically the annual peak of oilwell drilling activity in Saskatchewan. As of Feb. 14, there were 32 rigs making hole in this province, according to RiggerTalk.com, which publishes data from the Canadian Association of Energy Contractors (CAOEC).
While you were giving flowers to your sweetie, these rigs were turning to the right.
Suncor’s fourth-quarter profits increase 76 per cent to $2.74 billion
Suncor Energy Inc. says it earned $2.74 billion in the fourth quarter of 2022, a 76 per cent increase from the $1.55 billion it earned in the same three months of 2021.
The Calgary-based company says its increased profit was due to the higher price of crude and refined product realizations as well as higher upstream production, partially offset by increased operating expenses.
Saturn Oil & Gas drilled 57 wells in 2022
Saturn Oil & Gas Inc. announced results from its 2022 capital expenditure program and operational highlights on Feb. 13, most of which was in Saskatchewan.
The 2022 capital program totaled approximately $89.1 million with 80 per cent of expenditures directed to horizontal drilling in Saturn’s two operational areas, the Oxbow Asset in southeast Saskatchewan, and the Viking Asset in west-central Saskatchewan. The balance of capital expenditures was invested in facilities improvements, workover and optimization projects and acquiring land.
TC Energy increases dividend, reports Q4 loss due to rising costs of Coastal GasLink
TC Energy Corp. expects to be able to indicate this summer whether it will complete the Coastal GasLink pipeline by its end-of-year target or not.
The Calgary-based pipeline company, which has been dogged by unexpected construction issues and rising labour costs for the project, said earlier this month that it has raised the estimated cost of the pipeline to $14.5 billion, up from an earlier estimate of $11.2 billion.
Imperial Oil files cleanup plan for tailings leak in Alberta, won’t disclose details
Imperial Oil Ltd. has filed a plan for the interim cleanup of one of the largest oilpatch spills in Alberta history but hasn’t released any details on the plan or the two toxic releases at its Kearl oilsands mine.
“(The plan) was submitted on Friday,” confirmed Imperial spokeswoman Lisa Schmidt in an email Monday.
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