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Data analytics is the new frontier in cost reduction

In the oil and gas business, data is measured in terabytes and petabytes. To understand how much data that is, here is a comparison: a gigabyte is seven minutes of high definition video; a petabyte is 13.3 years of the same video feed.

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Smart oil

OLWK 151001 smart oil 1Artificial intelligence is shaping the future of energy, but don’t forget the risks

“Data is the new oil.” One often hears that saying these days, but what does it really mean? For some people, oil has long been the ultimate symbol of wealth and power, but some like to suggest its role is being replaced by information.

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Learning curve

Refrac tests hold promise as the industry races to lower its costs

OLWK 151001 refracEveryone loves a good deal: Black Friday, Boxing Day and refracs. Refracturing horizontal multistage wells has been touted as a cost-effective way to unlock additional resource-play production because it avoids the expense of drilling. So the promise of refracking is huge in the current low commodity price environment.

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Side of veggies

OLWK 151001 Biochem 1Plant-based chemical innovations aren’t likely to push petrochemicals away from the table

It’s unlikely plant-based chemical sources will ever play a larger role than fossil fuel–based petrochemicals in the Canadian economy, says the head of an organization that helped attract a new multi-million dollar biochemical plant to economically depressed Sarnia, Ont., Canada’s historic Chemical Valley.

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Triple play

CPHFlogo 872C brA trio of industry stalwarts are poised for induction into the Canadian Petroleum Hall of Fame

A triple play in baseball is a rare occurrence—fewer than 700 have been recorded in the last 139 years of Major League Baseball play—but that has nothing on the rarity of a triple play induction into the Canadian Petroleum Hall of Fame: 2015 marks the first time in 19 years that only three have been named to join the 146 honoured members already enshrined there.

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Tread lightly

ShovelShift ResizedOilsands projects are critical to Canada’s economy, but operators need to significantly reduce their footprint

Even an economist with an environmental organization that spends much of its time criticizing Canada’s oilsands sector acknowledges that it is a large part of the country’s economy and shutting it down would be committing economic suicide.

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Pause button

TransMountain ConceptSlowed oilsands development will still require more pipelines

“Dirty oil” activism over the years held Canadian export pipeline projects hostage in the battle to contain oilsands growth, but $100 oil was the trump card that allowed industry to mostly stay on track in its growth plans. Bitumen-by-rail mushroomed and alternate pipe routes and expansions stepped up to move ever-increasing crude oil volumes to refining markets. In fact, business was so good just a year ago that overheated oilsands construction costs prompted some producers to shelve capital-intensive investments in new projects or expansions.

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Alberta Oil and Gas Industry Quarterly Update


Alberta Oil and Gas Industry Quarterly Update

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