Cenovus targets de-manned SAGD: This week's best quotes

Image: Cenovus Energy

Here are some of the best quotes from news coverage in the Daily Oil Bulletin for the week ending June 23, 2017:

“Sometimes it looked like consensus would elude us, but it didn’t, because I believe when Canadians of good faith really try to work together for the good of everyone and for the national interest, progress can be made.”

—Alberta environment minister Shannon Phillips, commenting on the recommendations from the province’s Oil Sands Advisory Group on implementing the 100 megatonne per year GHG cap. Among other recommendations, the group advised that penalties should be in place for poor performers.

“The best way to not leave any oil in the ground is to be always improving our performance, innovating and being more competitive…I think the framework of the public policy construct around the emissions limit—but more importantly the work that industry is doing to try and improve its performance—is going to make us competitive, and that is our best assurance that we don’t leave Alberta oil in the ground.”

—Dave Collyer, former president of the Canadian Association of Petroleum Producers, who co-chaired the Oil Sands Advisory Grou p.

“I think at $3 (per mcf) gas and $40/bbl oil we can make it work in our industry, but we have to be more efficient.”

—Trican Well Service CEO Dale Dusterhoft, commenting on the viability of hydraulic fracturing support service companies in North America.

“For new next-generation SAGD projects, it’s a longer-term vision to move towards zero manning in the field during production operations. [It’s] a tough challenge, but one that we are addressing. If we can put production systems on the seabed, we can de-man oilsands.”

—Kieron McFadyen, executive vice-president of upstream operations with Cenovus Energy, during the company’s 2017 investor day.

"Somebody at OPEC has to cut further but no one is willing."

—Bob McNally, president of the RapidanGroup, a Washington-based energy market and policy consultant, discussing the current drop in oil prices as inventories remain stubbornly high despite the current OPEC production cut deal.

“Studies show right now we use about one per cent of the data that we capture to make decisions. Some companies are using more, our higher performers, but it is not widespread.

“The challenge with big data is that it’s an expensive thing to get into. You need a big infrastructure to get it up and running, but once you do, you will be able to extrapolate and be able to look in the right spot for the right information.”

—Baker Hughes Canada sales director, well construction Marc Carriere, speaking on a technology panel at the Global Petroleum Show.