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Global industry changes create uncertainty for oil and gas

Key drivers underpinning capital allocation, market alignments and operating characteristics of the global oil and gas industry are undergoing rapid changes - and creating greater uncertainty in the commodities market. PwC Canada's new report Energy Visions: Who's in Charge launched today in Calgary focuses on key actions the Canadian industry must take to achieve greater agility in this changing marketplace. 

OPEC policy changes have affected heavy oil trade flows, according to the report. Up until recently, US shale supply was dependent on prices, actions, and decisions of Saudi Arabia and core OPEC members. But the extreme price volatility and existence of a new significant source of non-OPEC supply (US shale) have challenged OPEC's authority. Lower OPEC exports of heavy sour crude to Asia have driven up prices, making it economically feasible for North American barrels to reach that market. 

According to the report, the resilience of US shale under the 'lower-for-longer' oil price environment has been stunning. Even though US production fell from a high of about 9.6 million bpd in April 2015 to about 8.6 million bpd in November 2016, the rate of decline was much slower than many predicted. 

"With the new US Administration and a freshly signed OPEC agreement, the outlook is still one of uncertainty for oil and gas. Price volatility continues to be a determining factor that will impact current and future strategies for all industry players," said Reynold Tetzlaff, National Energy Leader at PwC Canada. "The Canadian sector stands at a crossroad where it must balance well managed cost containment, capital discipline, strong sustainability practice, operational excellence and an innovation culture if it wants to survive the lows and excel in the future." 

Canadian oil and gas companies aren't ignoring the increasing impact carbon has on their operations or the growing relationship carbon has with attracting and maintaining capital in Alberta, especially in the eyes of international investors. Greater collaboration between government, industry, stakeholders are required to hold Canada accountable to reduce greenhouse emissions while remaining globally competitive.  

"The world needs oil and gas and that will not change in the near term. I am confident that Canada, with our technological innovations and ingenuity, and strong environmental standards, is well positioned to build on its position as a global leader within the sector," adds Tetzlaff.

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Drilling & Production

All-terrain Link-Belt ATC3275 puts in the hours on oil and gas jobs

Cheyenne, WY-based BAR-S Services (BAR-S) took ownership of a new 275-ton (250-mt) ATC-3275 all-terrain crane from Link-Belt distributor Strong's Crane Service. In their nearly third decade of operation (founded in 1990), BAR-S specializes in erecting and dismantling oil rigs, supporting the oil and gas industry in northeastern Colorado and Wyoming. When not supporting the oil and gas industry, the company operates their new ATC-3275 as a taxi crane covering a 300 mile working radius. 

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Occupational Health & Safety

Backsense radar from Brigade protects workers

Backsense radar from Brigade protects workers

One of the most common causes of injury and death for site workers is being struck by plant machinery. In fact, site workers are two times more likely to be injured at work compared to those in other occupations. Research carried out in Europe has also found that the construction, transportation, manufacturing and agricultural trades recorded more workplace deaths in 2017 than all other industries combined. 

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Software & IT

Oildex releases next generation digital field ticket solution

Oildex releases next generation digital field ticket solution

Oildex has introduced OpenTicket, the next generation of the company's digital field ticket solution. OpenTicket is the industry's only comprehensive, end-to-end cloud-based platform that provides both operators and service providers with all the software they need to generate, review and approve digital field tickets. New capabilities of OpenTicket include a dedicated mobile application that supports both online and offline generation of digital field tickets, support for Drilling & Completions (D&C) and Lease Operating Expense (LOE) organizations, and processing optimizations that speed payments, improving operator/supplier relationships.

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Shows & Events

Global Petroleum Show adds comprehensive conference for 2018 event

Global Petroleum Show (GPS), North American's leading energy event, will kick-off its 50th year next month in Calgary. From June 12-14, over 50,000 industry professionals, government officials, national and international energy companies, thought leaders and influencers from around the globe will gather at Stampede Park to share innovative technologies and engage in complex and controversial discussions with the potential to shape the future of the energy industry. 

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Pipelines

Michels receives 10,000th Cat excavator from Victoria facility: PLM

Michels receives the 10,000th machine to be produced at Caterpillar's Victoria, Texas facility. Present at the ceremony were Tyler Sternat (Fabick Cat), Kent Podobinski (Caterpillar), Chuck Riggert (Caterpillar), Art Strother (Victoria facility manager), Doug Fabick (Fabick Cat), Mary Morris (Victoria O&D Planning), Kevin Michels, Pat Michels and Terry Gassner (MICHELS Corporation), Adam Helleberg (PLM), Roger Montalvan (Victoria supply chain manager), and Craig McArton (Fabick Cat).

PipeLine Machinery International (PLM) has announced that the 10,000th machine to be assembled and delivered by the Caterpillar Hydraulic Excavator Facility in Victoria, Texas - US. The new 336F Hydraulic Excavator went to mainline pipeline contractor Michels Corporation, and was presented in ceremony to them on May 16, 2018.

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DPL Telematics AssetView tracking system offers innovative self-contained GPS solution

The DPL Telematics AssetView unit is compact and works for up to 3.5 years on three AA batteries.

DPL Telematics announced the release of the AssetView Tracking System. AssetView is an advanced solution for wireless monitoring and remote tracking of any powered or unpowered asset to improve logistics, manage inventory and curb theft. The small, portable GPS unit is completely self-contained and may be hidden on any asset, installing in seconds. 

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Industry News

ExxonMobil, BASF form natural gas processing, petroleum refining development deal

ExxonMobil, BASF form natural gas processing, petroleum refining development deal

ExxonMobil Catalysts and Licensing LLC and BASF Corporation have signed an alliance agreement to jointly develop new gas treating solvents and process technologies for use in natural gas processing and petroleum refining. Under this new agreement, BASF will market and license technologies developed from this collaboration, along with FLEXSORB and OASE technologies.

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Transportation

Michelin Tweel introduces airless radial tire for UTVs

Michelin Tweel Technologies, a division of Michelin North America, Inc., is introducing a new 26-inch airless radial tire with a four-bolt wheel-pattern hub designed for use on UTVs that will initially be sold as a fitment for the replacement market. Originally designed for military special operations use on light-tactical vehicles, the MICHELIN X TWEEL UTV 26x9N14 airless radial tire is a single unit that replaces the current pneumatic tire/wheel/valve assembly. Once bolted on, there is no air pressure to maintain, thus eliminating the need to carry spare tires, tools or repair kits.

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