Post: #4376

(01-18-2017 08:40 PM)scotian Wrote:  I can't wait until Trump approves the Keystone pipeline, hopefully it will convince the Canadian government to get some pipelines to tide waters built.

I'm not overly familiar with the CETA EU/Canada trade pact but I do remember some Euro-weenie politicians bitching about how dirty Canada's oil is, does anyone know if the pact contains anything in it about our oil?

Approved.
http://www.reuters.com/article/us-usa-tr...SKBN15820N

Post: #4377

Got this from an old high school buddy who is rich and loves to buy stupid shit with his petro dollars.

I love when Alberta has money.

Post: #4378

Probably a coincidence with Trump, but I just got transferred to a new department in december and got a 10% raise last week. Plus I made 5k on my oil and resource stocks with the big jump yesterday thanks to Trump!

Also it's not so dark when I get home these days... Things are looking bright up here for me, literally!

Post: #4379

Whats everyone here up to? And correct me if i'm wrong, was there a member here who left the patch and ended up doing pretty well for himself coding?

Post: #4380

Ya that's Atlantic, he doesn't post on here anymore but he's been living in south America for over a year now and has a successful coding gig going on and some other internet hustles. He's making more than he did in the oil patch and that guy made a shit ton of cash in Alberta.

Post: #4381

(01-25-2017 08:51 PM)scotian Wrote:  Ya that's Atlantic, he doesn't post on here anymore but he's been living in south America for over a year now and has a successful coding gig going on and some other internet hustles. He's making more than he did in the oil patch and that guy made a shit ton of cash in Alberta.

Man... i kinda had the feeling it was Atlanta. Any reason he stopped posting? He had some good info

Post: #4382

Things are looking up thankfully but will still take a little more time.

Post: #4383

Atlantic logged out of his account then forgot his password and decided not to log back in, I should probably do the same one day and try to make some of that internet money but fuuuuuck it!!!

Post: #4384

(01-26-2017 08:53 PM)scotian Wrote:  Atlantic logged out of his account then forgot his password and decided not to log back in, I should probably do the same one day and try to make some of that internet money but fuuuuuck it!!!

Haha its not too late man. I'm trying hard to get some traction going and not have to go back to the mac.

Post: #4385

hey guys,

I'm working in BC as 2nd year electrician apprentice (Currently a IBEW member) and I'll be going to school this May.
Currently finishing up the construction phase of Fortis BC LNG Tilbury Expansion Project in Delta, BC.

Back in 2015, I've worked up north in Fort Mac as a labourer. Worked 14/7, 12 hour shifts, then the oil price crashed and everyone got laid off.
Decided to go to school, joined the union and became an electrician apprentice.

With Trump's approval on the pipelines, should I consider going back to Alberta to look for a job (non-union)?

My original goal was to first obtain my red seal electrician ticket before looking for a job in other provinces, but it seems like after Trump's taken over, a lot has been changed.

Any opinions would be greatly appreciated. And I want to thank you all for contributing to this valuable thread. It has changed my career for the better in so many ways

Post: #4386

I'd stay in BC as long as you can, its much nicer than Alberta as you already know. There should be some projects ramping up there soon with the LNG expansion, Site-C dam and a few other ones. We'll see what happens in Alberta but once Fort Hills and the NWR refinery in Redwater finish this year, Alberta will be slow and there won't be much going on outside of maintenance and a bit of pipeline work.

Post: #4387

Get ready boys. Oil field is coming back slowly.

Just don't blow your $$$ on dumb shit.

Petro Engineer here. Most likely I will be on the office side but sometimes I'm actually jealous as the field guys can make more money with overtime (we're just salaried...).

Post: #4388

^Where ya at? What indications of growth are you seeing?

Post: #4389

What ya feelas up to? About to head up to syncrude hopefully for a shut down. Last job lasted 9 day

Post: #4390

(01-29-2017 07:49 PM)redbeard Wrote:  ^Where ya at? What indications of growth are you seeing?

LinkedIn was blowing up with jobs. Facebook too (Most of my friends are petroleum engineers and as such I see most "need someone in North Dakota!" responses people will toss out to their networks.

People I know all went to the oil patch to gets jobs.

Although I've come to realize pay is down from before. US work is picking back up but not at the insane salaries of before.

Post: #4391

I'm finally going back to mudlogging after a 2 year 'break'. I'll be in Oklahoma back to making $300-400 a day doing 24 hour shifts. A smaller contractor lets me stay out there the whole time instead of 12 hr shifts.

I'm putting all the money into finishing my auto-logger technology. Already sunk about 60k into it and it ended up me living in my mom's basement from 28-30 yrs old. My family was just ripping into me incessantly about money, and why I'd spent all my earnings on a business gamble. Men without money are undoubtedly the bottom of the foodchain. The disrespect from other people is unreal. A man without money you don't exist to society that's for damn sure.

Post: #4392

(03-10-2017 01:27 PM)Disco_Volante Wrote:  I'm finally going back to mudlogging after a 2 year 'break'. I'll be in Oklahoma back to making $300-400 a day doing 24 hour shifts. A smaller contractor lets me stay out there the whole time instead of 12 hr shifts.

I'm putting all the money into finishing my auto-logger technology. Already sunk about 60k into it and it ended up me living in my mom's basement from 28-30 yrs old. My family was just ripping into me incessantly about money, and why I'd spent all my earnings on a business gamble. Men without money are undoubtedly the bottom of the foodchain. The disrespect from other people is unreal. A man without money you don't exist to society that's for damn sure.

I have noticed this. If I have money it's great and people love me. The minute something happens everyone hates me, even when I was in college.

Have you tried gettings appts with baker or Halliburton lately? I know Halliburton just picked up a ton of frack hands.

Post: #4393

^^ No I actually prefer smaller companies. It sounds nice working for the big names but all the HR, redtape, drug testing, etc is insane. Those bigger companies even put all sorts of sensors on your vehicle so they can track how long youre driving to work, etc...

Both small companies I've worked for give you way more freedom.

Post: #4394

(03-10-2017 02:11 PM)Disco_Volante Wrote:  ^^ No I actually prefer smaller companies. It sounds nice working for the big names but all the HR, redtape, drug testing, etc is insane. Those bigger companies even put all sorts of sensors on your vehicle so they can track how long youre driving to work, etc...

Both small companies I've worked for give you way more freedom.

No for selling your rock thingy.

I'm not sure how much it can command in the market but it seems like a decent piece of tech to start your own company with.

Post: #4395

Yea my rock identifier had a few flaws that in the past couple months I thought of a way to fix them. It's quite genius really.

Baker hughes was so bankrupt and laying off 1/2 their company they weren't in a position to acquire something anyways. If I want the big money for it I need to hold out and sell it to a bigger entity like schlumberger. It will be worth more if I release it myself though, as like a surprise on the market.

Post: #4396

(03-10-2017 02:22 PM)Disco_Volante Wrote:  Yea my rock identifier had a few flaws that in the past couple months I thought of a way to fix them. It's quite genius really.

Baker hughes was so bankrupt and laying off 1/2 their company they weren't in a position to acquire something anyways. If I want the big money for it I need to hold out and sell it to a bigger entity like schlumberger. It will be worth more if I release it myself though, as like a surprise on the market.

Is it something worth licensing or selling the tech to a supply company?

Might be a 1 time large deal versus spending years distributing it yourself.

Post: #4397

I'm going to license it out for a day-rate on rigs. Then if I get the patent, ideally I will be acquired by one of the larger fish in the sea. Just speculation really.

But right now I need to get a few checks before I can finish it.

Post: #4398

I was up here for the week and drove through Nisku to see what's what. Still pretty quite by the looks of the place (though maybe that's due to break up?).

I went in to talk to a small drilling company and they said to apply after May long weekend, and they'll also be hiring in September. Somewhat promising news I suppose.

Post: #4399

(03-12-2017 06:54 AM)Laurifer Wrote:  I was up here for the week and drove through Nisku to see what's what. Still pretty quite by the looks of the place (though maybe that's due to break up?).

I went in to talk to a small drilling company and they said to apply after May long weekend, and they'll also be hiring in September. Somewhat promising news I suppose.

I'm not sure about drilling but the oil sands are really taking a shit kicking with the large multi-nationals fleeing their high cost operations en masse due to low oil prices and (maybe?) shitty government policies from the Alberta provincial NDP, although Trudeau seems to be pushing the oil sands now and of course, the Keystone pipeline deal was signed by Trump. Here's an article that describes very well how Canadian heavy oil is in a shitty position and the US is much better: http://boereport.com/2017/03/09/albertas...continues/

Alberta’s mass exodus of multinational oil companies continues

Quote:Over the past three years Canada, and specifically Alberta, have seen an unprecedented exit of capital. This has been caused by several factors – topping the list of course is the collapse of oil prices.

With today’s announcement that both Shell and Marathon Oil are by and large exiting the oilsands play, the trend of foreign owned energy companies decamping from Albertan energy assets continues.

Today’s blockbuster deal comes on the heels of other noteworthy divestitures from Alberta energy assets as well. In the fall of 2016, Shell sold close to $1.4 billion worth of Deep Basin and Montney assets to Tourmaline. In December, Statoil announced it was selling its Thermal Oil assets to Athabasca Oil Corp, and shortly thereafter, Koch Oil Sands sent a letter to Alberta’s Energy Regulator requesting the cancellation of a SAGD project on account of the province’s burdensome red tape and carbon tax.

Of course the entire oil industry has been hit the hard, but why have multinationals left Alberta and western Canada when, concurrently, they have maintained (and in some cases increased) operational activity in other parts of the world? There are three reasons for this: higher operating costs, limited access to markets for their product and an unfriendly political climate.

And as a reminder, before breaking these three factors down, lets list some examples of multinational oil companies who have either left or substantially reduced their exposure in western Canada.

In February 2014 Devon Energy sold $3.125 billion of seets to CNRL
In March 2014, Apache sold a large portion of their Western Canada assets for $374 million
In September 2014 Statoil put an oilsands project on hold for 3 years as it grappled with rising costs
In December 2014, EOG Resources divested the majority of its Canadian assets
In February 2015, Shell withdrew an application for a new oilsands mine
ConocoPhillips sold a massive land package in November 2015
In April 2016, Murphy Oil sold its 5% interest in Syncrude to Suncor for $937 million
In June 2016 Chevron announced it was looking to unload more assets in Western Canada
In December 2016, Statoil sold its Canadian Thermal Oil assets to Athabasca Oil Corp for $582 million
In October of 2016, Koch Oil Sands issues letter to AER requesting canellation of SAGD project
In December of 2016, Shell sells Montney and Deep Basin assets to Tourmaline for $1.4 billion
In March 2017, Shell divests oilsands assets to CNRL for $7.25 billion
In March 2017, Marathon divests oilsands assets to CNRL for $2.5 billion

High Operating Costs

It’s no secret Western Canadian oil has tremendously high operating costs. This is due to several factors: deep drilling in parts of the Western Canadian Sedimentary Basin, tougher weather conditions, heavier crude oil in some parts and relatively high labour costs. Canadian crude currently is among the world’s most expensive to extract. A majority of producers in the area are now focused purely on survival vs. growth.

Several high-cost Alberta producers, in the first quarter of 2016 had production expenses accounting for 46% of the realized sale price per barrel (not including royalty charges or transportation expenses). This is in stark contrast to other basins in North America.

In Texas, the Permian basin is widely considered to be one of the most attractive basins in North America. Diamondback Energy, which focuses only on the Permian basin, had production expenses accounting for 29% of the realized sale price per barrel (not including royalty charges or transportation expenses).

Other United States plays are equally as good as the Permian if not better. Continental Resources Inc. says its best wells today are in the Oklahoma Stack play. The company says its drilling there can yield a 75% return with oil at $45 a barrel.

“A common thread running through both segments [oilsands and shale/conventional] is the high cost of labour, distance to markets and lack of pipeline access that discounts the value of Canadian oil,” says Yadullah Hussain reporting for the Financial Post. “Add the sniping between provinces on pipelines, lengthy reviews of major projects and new regulations around climate-change policies, and the price tag of operating in Canada can be daunting.”

Access to Market

With limited pipeline availability, Canadian crude oil trades at discounts to WTI and Brent from $5/bbl all the way to $15/bbl. There is likely no country on the planet that has greater difficulty getting its product to market than Canada. Even with depressed prices, there are still times when a glut of oil is present due to pipeline constraint. Even looking at CEPA’s pipeline map it’s easy to see that for a country which produces ~4 mmbbl/d, there is clearly not enough pipeline infrastructure.

Political Unfriendliness

Since the Alberta NDP took power, Albertans have seen many companies raise alarms over several key decisions. For example, several companies put plans on hold over the impending royalty review earlier in the year, and the newly instituted carbon tax will only increase costs for oil and gas companies. Increased regulations and taxes have simply made Alberta a less profitable venture for oil companies. For multinational oil companies, capital allocation is global and will seek, all else being equal, the highest investment returns.

Furthermore, it is impossible to ignore the blatantly anti-oil and gas sentiment which several members of the provincial NDP have showcased. High ranking ministers have demonstrated against pipelines, written forwards for anti-hydrocarbon books, and have made some fairly troubling statements against approving pipeline projects. Even Premier Notley stood up in the legislature and stated she was opposed to the most viable pipeline option which would move nearly 800,000 bbl/d to the US: Keystone XL.

Any one of the above issues would pose a problem for any oil producing jurisdiction. When grouped together, Western Canada (and specifically Alberta) has recently positioned itself as a difficult region for multinationals to do business.

Personally, I'm considering offers for work in BC and Ontario and am trying to avoid Alberta mostly because our unions had shit agreements rammed down our throats by the oil and gas companies, so fuck working in Fort McMurray for 20-30% less. If it gets really bad I may even look into working in the US but I think it'll be ok if I get a steady gig in a non oil reliant province.

Post: #4400

I don't get why Albertans aren't starting to murmur about retaliation against BC for this pipeline fiasco. If I was Notley I would call Clark and tell her that until tidewater pipelines are approved, a moratorium on BC gas and liquids from the Doig, Montney and Horn River Basin flowing through pipelines situated in Alberta is effective immediately. Every well in NE BC would be shut in!

That would get the ball rolling!