Canadian Energy Services Newsletter
Bonnyville-based KUDO Energy Services Inc. announced the acquisition of Athabasca-based Lincoln County Oilfield Services Ltd., a provider of pipeline and facility construction, fabrication, civil, maintenance, transportation, and heavy lift services. The transaction expands KUDO’s geographic footprint and strengthens its overall capabilities.
Exchange Income Corp. (TSX:EIC) announced the $30MM acquisition of Sherwood Park-based TerraPro Inc., a manufacturer and provider of integrated access-matting services, as well as a provider of civil construction and environmental services.
Acheson-based Prairie North Construction Ltd., Edmonton-based BTO Contracting Ltd., Edmonton-based Eng-Con Holdings Ltd., and Edmonton-based Ventura Power and Gas Ltd. announced a merger to form Theoden Infrastructure, a construction company specializing in heavy civil, utilities, earthworks, energy, and drones & robotics.
InPlay Oil Corp. (TSX:IPO) closed the $54.25MM acquisition of a private oil and gas producer, adding 1,400 boed to its Belly River production.
Calgary-based Treeline Well Services announced its expansion into Australia through a 10-year contract to deliver five high-spec service rigs for Origin Energy.
The Oil Sands Alliance industry group is targeting a late 2027 final investment decision to proceed on the Pathways carbon capture and storage project.
Inventory in the US Strategic Petroleum Reserve declined by 3.7MM barrels to 289.7MM last week, marking its lowest level since November 1982.
| North American Drilling Rig Activity |
For the Week Ending | Change Week-Over-Week |
Previous Year |
Change Year-Over-Year |
|
|---|---|---|---|---|---|
| 21-Aug-26 | 14-Aug-26 | 21-Aug-25 | |||
| Canada | |||||
| Active Rig Count | 226 | 229 | (1.3%) | 188 | 20.2% |
| Rig Fleet Size | 334 | 334 | - | 371 | (10.0%) |
| Utilization Rate | 68% | 69% | (0.9%) | 51% | 17.0% |
| USA | |||||
| Active Rig Count | 588 | 593 | (0.8%) | 539 | 9.1% |
| US Crude and Natural Gas |
For the Week Ending | Change Week-Over-Week |
Previous Year |
Change Year-Over-Year |
|
|---|---|---|---|---|---|
| 14-Aug-26 | 7-Aug-26 | 14-Aug-25 | |||
| Crude | |||||
| Production (kbpd) | 13,830 | 13,805 | 0.2% | 13,327 | 3.8% |
| Storage Level (kbbl) | 428,815 | 424,410 | 1.0% | 426,696 | 0.5% |
| Injection/(Withdrawal) (kbbl) | 4,405 | 17,423 | - | - | - |
| Natural Gas | |||||
| Storage Level (Bcf) | 3,169 | 3,153 | 0.5% | 3,186 | (0.5%) |
| Injection/(Withdrawal) (Bcf) | 16 | 36 | (55.6%) | 56 | (71.4%) |
| Commodity Prices | Current Week |
Previous Week |
Change Week-Over-Week |
Previous Year |
Change Year-Over-Year |
|---|---|---|---|---|---|
| 21-Aug-26 | 14-Aug-26 | 22-Aug-25 | |||
| Crude Oil ($US/bbl) | |||||
| WTI | 86.65 | 82.41 | 5.1% | 63.77 | 35.9% |
| Brent | 93.60 | 88.82 | 5.4% | 67.79 | 38.1% |
| WCS | 74.71 | 70.05 | 6.7% | 51.31 | 45.8% |
| Discount to WTI ($) | 11.94 | 12.38 | (3.4%) | 12.46 | (4.2%) |
| Discount to WTI (%) | 13.8% | 15.0% | (1.2%) | 19.5% | (5.8%) |
| Natural Gas | |||||
| Nymex ($US/MMBtu) | 2.75 | 2.75 | 0.0% | 2.69 | 2.2% |
| Aeco ($C/MMBtu) | 0.95 | 1.06 | (10.4%) | 0.73 | 30.1% |
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