​‘This too shall pass’: This week’s best oil and gas news quotes

Image: Joey Podlubny/JWN

Here are some of the best quotes from the last week’s oil and gas news coverage in the Daily Oil Bulletin :

Calfrac Well Services vice-president Scott Treadwell commented on the company’s outlook for drilling activity in Canada after weaker demand forced it to suspend one fleet and redeploy idled equipment to the U.S.:

“There have been times Canada has far outperformed the U.S. The tables have turned somewhat these days, but at some point this too shall pass.”

Tristan Goodman, president of the Explorers and Producers Association of Canada, warned that efforts to brand Canadian natural gas as responsible and ethical will not overcome the industry’s challenges if regulatory uncertainty isn’t solved.

“The brand is there. The only issue that I am worried about on the branding is it still has to be competitive. Nobody is going to buy our product if it is more expensive because of regulatory burden or uncertainty in getting it to a coast where you can export whether that coast is the east or west coast.”

Husky Energy chief operating officer Rob Symonds questioned the Alberta government’s oil curtailment order, which was eased for February and March:

“Our curtailment went up when the provincial number went down; I’m a little confused as to how the math works… Based on the latest curtailment orders we have received from the government, the amount we have to shut in during February and March will actually be higher than what we were ordered to shut in in January.”

Fractal Systems chief commercial officer Richard Masson said new support from Cenovus Energy, Sustainable Technology Development Canada and Emissions Reduction Alberta will help advance a bitumen partial upgrading regional hub, which could help ease the challenge of full oil export pipelines.

“We’re willing to license our technology to producers who could apply it right at their SAGD sites, so get the first one done and several could be in construction all at the same time down the road, which could have a meaningful impact on the amount of diluent we need for export pipelines…It’s an economic win, a pipeline win and an environmental win.”

Petroleum Services Association of Canada president Gary Mar summed up the environmental opportunity for Canadian natural gas in global export markets:

“If we could move natural gas to China we would do more to reducing the GHG emissions in the global atmosphere than if we shut down all the automobiles in Canada.”