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Why $90 Oil Isn’t Bringing Back the Rigs

Premium content Why $90 Oil Isn’t Bringing Back the Rigs

Higher oil prices are not translating cleanly into a drilling response across U.S. shale, and company disclosures are starting to show why. The issue is not simply capital…

These Three Companies Will Increase Drilling & Completion Over The Next 3 Year

Premium content These Three Companies Will Increase Drilling & Completion Over The Next 3 Year

In the span of fifteen months, three Japanese energy companies committed more than $10.3 billion to U.S. natural gas production assets — a buying spree that has transferred…

Q1 A&D Transactions Jump to $30B , While Deal Flow Was Down 40%

Q1 A&D Transactions Jump to $30B , While Deal Flow Was Down 40%

The first quarter of 2026 has officially defined the "Barbell Era" of American oil and gas. While the total number of deals plummeted by 46% YoY (dropping to…

Western Canada Upstream M&A: Q1 2026 Transaction Report

Western Canada Upstream M&A: Q1 2026 Transaction Report

Western Canadian M&A activity in Q1 2026 was characterized by a 87% decrease in total deal value compared to Q1 2025, totaling $0.8 billion C$. However, transaction volume…

Wright to U.S. Oil Industry: The Price Signal Is Telling You to Drill

Wright to U.S. Oil Industry: The Price Signal Is Telling You to Drill

Energy Secretary Chris Wright stood in front of the largest gathering of oil executives in the world this morning and delivered a message that was equal parts market…

Frontera Energy's Colombian Assets: A Contested Acquisition Emerges in Latin America's E&P Sector

Frontera Energy's Colombian Assets: A Contested Acquisition Emerges in Latin America's E&P Sector

Background Frontera Energy Corporation (TSX: FEC), a publicly listed Canadian holding company with upstream oil and gas operations in Colombia, has become the center of a contested acquisition…

Ascent Resources 2026: A Quiet Growth Story for Oilfield Services

Ascent Resources 2026: A Quiet Growth Story for Oilfield Services

Ascent Resources may not be making headlines with rig additions or dramatic well count increases, but a closer read of their March 2026 investor presentation — compared against…

Capital Expenditure (2022 vs 2023)

Company 2022 Actual ($MM) 2023 Est ($MM) % Diff
Ovintiv Inc $300 $560 +86.7%

Drilling & Completion Programs (2022 vs 2023)

Company 2022 Actual Wells 2023 Est Wells % Diff
No results.

Canada Rig Count Trends - Source Baker Hughes

Last Count Count Change from Prior Count Date of Prior Count Change from Last Year Date of Last Year's Count
CANADA RIGS Mar 28, 2024 151 -18 Mar 22, 2024 12 Mar 31, 2023
  HORIZONTAL Mar 28, 2024 138 -16 Mar 22, 2024 8 Mar 31, 2023
  VERTICAL Mar 28, 2024 8 -4 Mar 22, 2024 5 Mar 31, 2023
  GAS Mar 28, 2024 76 -2 Mar 22, 2024 -5 Mar 31, 2023
  OIL Mar 28, 2024 75 -16 Mar 22, 2024 17 Mar 31, 2023

Canada Drilling Trends

Latest Deals

Announce Date Deal Title Value $MM Play / Location Category Acres
Nov-04-2025 Ovintiv Acquires NuVista Energy for $2.7B, Establishing Premier Montney Position locked Montney Shale E&P locked
Dec-23-2024 Vermilion Expands Deep Basin Footprint with Acquisition of Westbrick Energy locked Canada / Alberta E&P locked
Nov-06-2024 Ovintiv to Acquire Montney Assets from Paramount for $2.377 Billion in All-Cash Deal locked Montney Shale E&P locked
Aug-22-2022 locked locked Montney Shale E&P locked
Aug-01-2022 locked locked Canada Oil Sands E&P locked
Jun-29-2022 Exxon Sells Off Montney, Duvernay Portfolio in $1.47 Billion Cash Deal locked Montney Shale,Duvernay Shale E&P locked
Dec-15-2021 Tamarack to Acquire Crestwynd Exploration in $184.7MM Cash/Stock Deal locked Canada Oil Sands E&P locked
Nov-29-2021 CNRL to Acquire Montney-Focused Storm Resources in $960MM Deal locked Montney Shale E&P locked
Sep-13-2021 West Lake Energy Acquires Light Oil-Focused Boulder Energy locked Peace River Arch,Canada Oil Sands E&P locked
Jul-07-2021 i3 Energy Acquires Alberta Assets from Cenovus for C$65 Million locked Canada / Alberta E&P locked
Jun-11-2021 Tourmaline Acquires Montney-Focused Black Swan Energy locked Montney Shale E&P locked
Jun-07-2021 Crescent Point Unloads Non-Core SK Conventional Assets for $93MM locked Canada / Saskatchewan E&P locked
Jun-02-2021 Pembina to Acquire Inter Pipeline in All-Stock Deal Worth $6.9 Billion locked Canada Oil Sands,Monterey Shale,Viking Play,Peace River Arch,Horn River,Deep Basin Midstream locked
Jun-02-2021 Cardinal to Acquire Venturion Oil Ltd. in Cash/Stock Deal Worth $47.5MM locked Viking Play E&P locked
May-24-2021 Topaz Acquires Assets From Tourmaline For $347 Million locked Montney Shale E&P locked