Canadian Energy Services Weekly Update
Saturn Oil & Gas Inc. (TSX:SOIL) announced the $302MM acquisition of Corex Resources Ltd., a Calgary based E&P company with 7,000 bpd of 100% light oil-weighted production in southwest Manitoba. The assets acquired are adjacent to Saturn’s assets in southeast Saskatchewan.
The $2.9B Yellowhead Pipeline project broke ground last week, which will add over 1B cubic feet per day of natural gas transportation capacity to Alberta’s Industrial Heartland upon completion.
The Alberta Energy Regulator (AER) issued a suspension order to Calgary based Sumerian Oil & Gas Inc., citing failure to comply with environmental requirements.
According to Statistics Canada, September inflation was 3.1% (3.0% in August). Inflation excluding gasoline was 2.2% (2.4% in August).
| North American Drilling Rig Activity |
For the Week Ending | Change Week-Over-Week |
Previous Year |
Change Year-Over-Year |
|
|---|---|---|---|---|---|
| 16-Oct-26 | 9-Oct-26 | 16-Oct-25 | |||
| Canada | |||||
| Active Rig Count | 230 | 228 | 0.9% | 202 | 13.9% |
| Rig Fleet Size | 335 | 335 | - | 373 | (38) |
| Utilization Rate | 69% | 68% | 0.6% | 54% | 14.5% |
| USA | |||||
| Active Rig Count | 603 | 603 | 0.0% | 547 | 10.2% |
| US Crude and Natural Gas |
For the Week Ending | Change Week-Over-Week |
Previous Year |
Change Year-Over-Year |
|
|---|---|---|---|---|---|
| 9-Oct-26 | 2-Oct-26 | 9-Oct-25 | |||
| Crude | |||||
| Production (kbpd) | 13,679 | 13,979 | (2.1%) | 13,629 | 0.4% |
| Storage Level (kbbl) | 415,577 | 424,134 | (2.0%) | 420,261 | (1.1%) |
| Injection/(Withdrawal) (kbbl) | (8,557) | (3,186) | - | - | - |
| Natural Gas | |||||
| Storage Level (Bcf) | 3,567 | 3,500 | 1.9% | 3,641 | (2.0%) |
| Injection/(Withdrawal) (Bcf) | 67 | 85 | (21.2%) | 80 | (16.3%) |
| Commodity Prices | Current Week |
Previous Week |
Change Week-Over-Week |
Previous Year |
Change Year-Over-Year |
|---|---|---|---|---|---|
| 16-Oct-26 | 9-Oct-26 | 17-Oct-25 | |||
| Crude Oil ($US/bbl) | |||||
| WTI | 101.83 | 91.67 | 11.1% | 57.60 | 76.8% |
| Brent | 109.95 | 104.54 | 5.2% | 61.34 | 79.2% |
| WCS | 89.06 | 79.50 | 12.0% | 44.80 | 98.8% |
| Discount to WTI ($) | 12.77 | 12.17 | 4.9% | 12.80 | (0.2%) |
| Discount to WTI (%) | 12.5% | 13.3% | (0.7%) | 22.2% | (9.7%) |
| Natural Gas | |||||
| Nymex ($US/MMBtu) | 3.12 | 3.20 | (2.5%) | 3.00 | 4.0% |
| Aeco ($C/MMBtu) | 1.34 | 1.35 | (0.7%) | 1.73 | (22.5%) |
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