Here are some of the best quotes from oil and gas news coverage in the Daily Oil Bulletin for the week ending August 11, 2017:
"Standing Rock was a dress rehearsal compared to what this will be…We are not going to let an inch of foreign steel touch Nebraska soil."
— Jane Kleeb, chair of Nebraska's Democratic party and founder of the Bold Alliance anti-pipeline group, joining other Keystone XL protestors vowing to block construction of the controversial project if Nebraska regulators approve the proposed route later this year.
“All around, it’s just a more economic business putting steam in the ground in Saskatchewan [than in the Alberta oilsands].
“We get a higher price for our oil—anywhere from $3 to $10 [a bbl] more. Also, because of more favourable oil viscosity and reservoir permeability than in the oilsands, a small percentage of Lloydminster heavy oil can be produced cold, so less heat is needed to increase recovery. And the other thing is our capital costs are less because we have less requirements to recycle the water.”
— John Festival, CEO of BlackPearl Resources, commenting on why the company is currently focused on increasing production volumes in its Saskatchewan thermal oil projects as it waits to proceed with its Alberta oilsands development.
“There’s a strong economic relationship between Canada and the United States. The work that’s done in Canada has a positive economic impact on a state, and it’s not just related to our selling the commodities to the U.S. It’s also related to the investment and development of our resources.”
— Canadian Energy Research Institute CEO Allan Fogwill, discussing the group’s latest study, Economic Impacts of Canadian Oil and Gas Supply in Canada and the U.S. (2017-2027).
“Although the first quarter of 2017 really showed some optimism and a hint of economic recovery, and some articles were very cautious in kind of hinting that we were already in that, the reality is that oil prices and industry confidence have not fully recovered. Therefore, market uncertainties remain in this current climate.
“If we see a recovery in Q3 or Q4, then attracting the workers back when they are already settled in other industries or are no longer pursuing jobs in oil and gas would be a difficult task.”
— Claudine Vidallo, team lead for the PetroLMI division of Enform, commenting during a recent webinar on oil and gas employment opportunities.
“We can still make money in this price environment, but cost control plays a more important role than ever.”
— JP Lachance, vice-president of exploitation with Peyto Exploration. In releasing its second quarter results, Peyto said the five-year future strip price for AECO gas is below $2.40 a gigajoule, which may be the lowest the AECO five-year strip price has been in the company’s 12-year history.