Petroleum Services News - Summer 2015 by Venture Publishing

SU MMER 201 5

2015 Drilling Activity Forecast update Advice on accessing capital through the downturn T H E O F F I C I A L V O I C E O F T H E P E T R O L E U M S E R V I C E S A S S O C I AT I O N O F C A N A D A

Canadaâ&#x20AC;&#x2122;s Energy Blueprint Forum

Streamlining

SAFETY Tackling inefficiencies in the industryâ&#x20AC;&#x2122;s general safety orientations

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Times are tough. And so are you. Successful oilfield services companies know the importance of adapting quickly to volatile markets. MNP’s Oilfield Services team delivers the financial management and business advisory tools you need to become more cost efficient, effective and competitive. By optimizing business fundamentals, we help your operation become more resilient—and better equipped to overcome the toughest times. Contact David Yager, MNP’s National Oilfield Services Leader at 403.461.8566 or david.yager@mnp.ca

Photo courtesy of Beaver Drilling Ltd

CONTENTS SUMMER 2015

Departments MESSAGE FROM THE CHAIR IN THE FIELD

5 9

News, notes and events from the industry

BUSINESS MATTERS

Financial experts offer advice on accessing capital through the downturn

Features ALL ABOARD With a new eGSO and a revamped BSO, can the safety orientation process be further streamlined?

COVER

2015 DRILLING ACTIVITY FORECAST

PSAC IN ACTION

26 28 30

MEMBER PROFILE A LOOK AT LEADERSHIP Getting to know PSAC Board members Bill Darling and Tom Whalen

CANADAâ&#x20AC;&#x2122;S ENERGY BLUEPRINT FORUM More natural gas and carbon footprint reporting, fewer oil sands mega-projects are in store for our energy future

15 WWW.PSAC.CA

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MESSAGE FROM THE CHAIR Focusing Our Energy

HE WORLD AS WE KNOW IT HAS CHANGED

dramatically since I took on the role of PSAC Chair late last fall. Plunging oil prices have forced companies in our sector to make some tough decisions about their people and operations. But while we have heard of layoffs, I know too that many companies are striving to retain their skilled workers, recognizing that keeping top talent is the best route to recovery and growth when oil prices and industry activity rebound. It isn’t easy. We in the services, supply and manufacturing sector are constantly challenged to streamline our operations and keep prices low for our customers. At the same time, we must stay ahead of technological advancements, investing in R&D to devise the latest innovations that make our operations faster, smoother, cleaner and safer. This is our daily modus operandi: to maintain it in a normal price environment is tough enough, but Wally Dumont, PSAC Board Chair now we are being asked to be even leaner. Kudos to companies that are able to keep good people, find more efficiency and continue to innovate during these uncertain times. Whether companies are able to achieve this or not, the fact is we are trying hard, with a rigorous focus on our internal operations. As such, we have limited time and resources to address any external issues or pressures. This is where PSAC membership truly shows its value. While we as individual companies are managing our own way through this downturn, PSAC is managing the big picture on our behalf, by advocating with governments, producers, media and the public. PSAC also helps members build knowledge that guides business planning. The Energy Blueprint series is a great example of that. The latest Blueprint session featured Peter Tertzakian, who shared his ideas on what our industry will look like over the next three, five and 10 years. By providing direct access to experts like Peter, PSAC helps members hone their thinking to better prepare for what likely lies ahead. The cost of PSAC membership may seem like a luxury during these belt-tightening times, but just stop to think how much it would cost each company to accomplish what PSAC does in government advocacy, public relations and knowledge leadership. For many members, PSAC is their only government relations team or marketing department. Larger companies may have these resources on staff, but they lack the lobbying power PSAC wields, and the respect and recognition it has, as it acts on behalf of more than 230 services sector companies and their 70,000 employees. PSAC membership always delivers value, but in tough times that value is even more apparent. As members, we can rest assured that PSAC is tackling our external challenges as we focus our energy on our own companies. We all know this ride is going to be rough and it may last a while, but I am confident that with our people, drive and innovation – and PSAC at our backs – services companies will come out of this stronger than ever. Best regards,

Wally Dumont, PSAC Board Chair

WWW.PSAC.CA

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SUMMER 2015 VOL 15 • No.1 The Petroleum Services Association of Canada is the national trade association representing the service, supply and manufacturing sectors within the upstream petroleum industry. PSAC represents a diverse range of nearly 230 member companies, employing close to 70,000 people and contracting almost exclusively to oil and gas exploration and production companies. PETROLEUM SERVICES ASSOCIATION OF CANADA 1150 800 6TH AVENUE SW CALGARY, AB T2P 3G3 TEL: 403.264.4195 FAX: 403.263.7174 EMAIL: info@psac.ca PRESIDENT AND CEO: MARK SALKELD

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IN THE FIELD

News, events and activities in the industry

Two Videos Added to Energy in Your Life series PSAC HAS ADDED two

more videos to its Energy in Your Life video series. The new videos focus on gasoline and other fuels. All the videos can be found in the Products section of oilandgasinfo.ca

COMING EVENTS THE ECONOMIC CONTRIBUTION OF THE OIL AND GAS SERVICES SECTOR IN CANADA Monday June 15, 2015 11:30 am to 1:30 pm Location: Westin Hotel, Calgary, AB

From left to right, Marcus Peiritsch and Paisley Hayes with their scholarships from PSAC’s annual golf tournament

CANADA’S ENERGY BLUEPRINT: ENERGY LITERACY, RESEARCH AND PUBLIC POLICY Thursday June 25, 2015 Location: Event Centre, Downtown Campus, University of Calgary PSAC 2015 EDUCATION FUND GOLF CLASSIC Thursday July 16, 2015 Location: Carnmoney Golf Club, DeWinton, AB 2015 INDUSTRY INSIGHTS AND 2016 CANADIAN DRILLING ACTIVITY FORECAST Tuesday November 3, 2015 Location: TELUS Convention Centre, Calgary, AB For more information and to register, visit: www.psac.ca/event

The winning team from this year’s PSAC golf tournament

NEW MEMBERS REGULAR MEMBERS Amperage Energy Inc. Chemscape Safety Technologies Inc. Magnum Energy Services Ltd. ASSOCIATE MEMBERS Business Development Bank of Canada First Reserve Momentum GridStone Marketing Inc. KR Petroleum Equipment and Service Co., Ltd. Parker Hannifin Canada XI Technologies Inc.

WWW.PSAC.CA

10 SUMMER 2015

PETROLEUM SERVICES NEWS

ALL ABOARD With a new eGSO and a revamped BSO, can the safety orientation process be further streamlined? BY ROBIN BRUNET

T’S MEANT TO BE straightforward:

take yearly in our industry is between eight and 10, at a cost of about $420 per orientation per person,” he says. “Smaller companies wind up spending tens of thousands of dollars on the process and larger companies spend millions – but unfortunately the information is fairly redundant, and worse, after about two or three sessions our respondents said they tend to tune out, which suggests a lot of GSO providers are wasting their time.” Patrick Delaney, PSAC’s Vice-President of Health and Safety, says the association will be using Tarbet’s findings to open discussions with other oil and gas representatives about reducing duplication. An indication that the daunting task of unifying standards may be possible comes from Tarbet’s study. “Overall, over 70 per cent of our respondents are very favourable to orientations because they provide a cultural aspect to safety training,” he says. “In other words, they respond strongly not only to being told how to conduct themselves, but why the behavior is important.” -TIM GONDEK, EXECUTIVE DIRECTOR OF Tarbet targeted 30 service companies and operTHE OIL SANDS SAFETY ASSOCIATION ators for his study and obtained the participation of 24 of them, including three operators. “Essenworker was obliged to undertake 30 different tially, respondents believe general orientations are great for people orientations last year – a considerable expendi- entering the industry, but if they had their choice they would lean more towards site-specific orientation on the grounds that, in their opinion, ture of time and money. This was the most glaring example of GSO GSOs have about a one-year validity before they need to be upgraded.” The respondents also favoured electronic GSOs as a beneficial tool inefficiency uncovered by Bruce Tarbet, President of JBCC Consulting Inc., who last year for newcomers – though they’re not appropriate for experienced worklaunched a study on safety orientations on ers. eGSO is a free online general safety orientation video available on behalf of the Petroleum Services Association the Enform website that supports employers’ new worker orientation of Canada (PSAC). “Even though 30 sessions programs. The 30-minute video meets industry general safety orienis rare, the average number of GSOs workers tation requirements and was developed specifically for the new young

general safety orientations (GSOs) provide a solid basis for new, young, inexperienced and transferred workers who are entering an organization and jumping into a new world of supervisors, co-workers, work areas and jobs. But consider this: a consistent overlap of information and the sheer number of GSOs required by different providers in the petroleum sector is such that, in one extreme scenario, one

“THERE’S A PALPABLE DESIRE ON THE PART OF NEW AND EXPERIENCED WORKERS TO TAKE ONE COMPREHENSIVE, ALL-INCLUSIVE SAFETY ORIENTATION.”

WWW.PSAC.CA

workforce entering the upstream oil and natural gas industry. Delaney says the impetus for an eGSO came from discussions at the Enform Board of Directors. “The eGSO was intended to be a one-stop window for a general safety orientation for all workers entering the industry and to replace myriad general safety orientations the operating companies require their contract workers to complete,” he says.“It was developed in response to concerns raised by contractors over the cost and time required to put their workers through all these operating company orientations, and the orientation fatigue their workers were experiencing.” While Delaney believes the eGSO process is working to some extent, he points out that it hasn’t been universally embraced: “We still have a lot of operators using their own orientations who either don’t know about the eGSO or are deciding for various reasons not to accept it.” This is contrary to Enform’s intent, which was that all workers in the upstream industry, regardless of experience, would be required to complete an eGSO by July 2014. A portion of Tarbet’s report describes occasional overlaps between the content of the eGSO and individual operating company orientations. “Because the operating companies do not require their workers to complete the eGSO, they really don’t have any idea of the time and costs for a service company that has to put their entire field workforce through the eGSO as part of the industry requirements – only to have these same workers take individual client orientations that, in many cases, are a duplication of much of the e-GSO material,” says Delaney. “Because the operators don’t feel the direct impact of these costs, it’s been very difficult to engage them in discussions about the negative view many workers have of their orientations.” Delaney’s observations raise a larger question: when it comes to general safety orientations, is it possible (and feasible) for an industry-wide agreement that streamlines the process to be reached? The answer is unclear, but one thing is certain: the desire for a unification of standards is near universal. “Industry is extremely focused on reducing training duplication and streamlining the movement of workers,” says Tim

12 SUMMER 2015

Gondek, Executive Drector of the Oil Sands Safety Association (OSSA). Gondek is referring to OSSA’s owner-members – Shell Albian Sands, Suncor Energy, Syncrude Canada and Canadian Natural Resources Limited – who are working together with Keyano College to develop a new basic safety orientation (BSO) course for contract workers in the Wood Buffalo Region. Effective July 1, 2015, the new BSO replaces the existing one-hour OSSA Regional Orientation. The BSO is considered a major improvement to the content and delivery of safety orientation training for OSSA, its member companies, key stakeholders and other potential partners and organizations. “The four-hour awareness session is interactive and actively engages participants for an enhanced learning experience,” says Gondek. Participating OSSA member sites will remove duplicate content from their site-specific personal safety orientations, which will be - SHEREE BOYER, OSSA MEMBER AND PROGRAM DIRECTOR covered by the new BSO. FOR THE PERSONAL SAFETY COLLABORATION PROGRAM. This means contract workers will no longer have to go through duplicate basic safety awareness at OSSA member sites. (The BSO curriculum is based on the new and overarching OSSA Regional Safety Rules, which include the seven “Life Saving Rules” being implemented this spring by OSSA members.) Sheree Boyer, OSSA member and Program Director for the Personal Safety Collaboration Program, says the BSO couldn’t have arrived at a more appropriate time. “This is a great example of four owners actively collaborating to remove duplication, eliminate confusion and enable our workers to move seamlessly from site to site,” she says. “Up until now, a lot of the same personal safety rules and standards have been communicated differently at each site, both in terms of verbal and graphic communication. This causes confusion and can make it hard for workers to remember all the safety rules and procedures.” While eGSO experiences growing pains, Tim Gondek and his colleagues in the Wood Buffalo Region keenly anticipate the summer months when their new BSO goes into full swing. “It was a satisfying process to sit down at the table with all four OSSA member and contractor company representatives, take a hard look at our existing safety awareness content and co-create the new BSO,” he says. “We viewed it as a terrific opportunity for standardization, and we hope other associations in other regions will be able to have similar successes,” Boyer adds. “There’s a palpable desire on the part of new and experienced workers to take one comprehensive, all-inclusive safety orientation. What it requires is the willingness of all policy-makers to agree on a common standard and then follow through.”

“UP UNTIL NOW, A LOT OF THE SAME PERSONAL SAFETY RULES AND STANDARDS HAVE BEEN COMMUNICATED DIFFERENTLY AT EACH SITE, BOTH IN TERMS OF VERBAL AND GRAPHIC COMMUNICATION.”

PETROLEUM SERVICES NEWS

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BUSINESS MATTERS

Treading Water FINANCIAL EXPERTS OFFER ADVICE ON ACCESSING CAPITAL THROUGH THE DOWNTURN BY LISA CATTERALL

N THE WAKE

of low oil prices, businesses are examining their balance sheets in order to find and reduce redundancies while working to stay profitable. PSN spoke to financial industry experts and asked them for tips on accessing capital until the economy turns around. Top advisors from the Business Development Bank of Canada, ATB Financial and Royal Bank shared the following advice: TAKE ANY AVAILABLE OPPORTUNITIES: When oil prices were high, businesses may have been in a position to refrain from making deals if their ideal conditions were not meant. Now that the markets have changed, passing on an opportunity is a much higher-risk gamble. “Don’t hold out - the companies that are going to succeed through this year are those that are willing to get a deal done,” says Bruce Edgelow, Vice-President of Energy at ATB Financial.

WWW.PSAC.CA

RE-EXAMINE THE STOCK EXCHANGE: Canada’s newest stock exchange, Aequitas NEO, aims to reshape Canadian capital markets and facilitate easier trading of debt or equity, allowing private companies across the country to have greater exposure to new markets. The exchange, which was developed with the backing of investors like RBC Capital and CI Financial, will balance the needs of brokers, investors and issuers. “It really wants to establish a stock market for small- to medium-sized businesses,” says Roger Straathof, Managing Director for the National Client Group at the Royal Bank of Canada. “So this is another great initiative to make it easier for companies that have good ideas and know how to execute them to have access to capital.” SEEK ADVICE: Traditional financing options like business loans are just one of the services offered to small- and medium-sized businesses by the Business Development Bank of Canada (BDC). Growth and transition

capital are also available to encourage businesses looking to develop their services. “We have been one of the industry’s best kept secrets,” says Michael Selci, Senior Vice-President of financing and consulting for BDC’s Prairie region. “But we don’t want to be a secret anymore. We want those in the oil and gas services industry to understand that we can partner with them.” The BDC’s recently introduced oil and gas relief program, which allows businesses in the industry to postpone payments and access working capital loans in order to encourage growth and survival, displays their commitment to the industry.

“COMMUNICATE WELL, AND OFTEN, WITH NO SURPRISES. BE AS TRANSPARENT AS YOU CAN. IN THIS ENVIRONMENT, THOSE THAT COMMUNICATE WELL ENOUGH WILL BE REWARDED, BECAUSE NO ONE WANTS SURPRISES.” – BRUCE EDGELOW, ATB FINANCIAL BUILD CRITICAL STAKEHOLDER RELATIONSHIPS: Having a relationship with more than one financial institution and quizzing them about their services is critical. “It’s no different than having more than one supplier,” says Selci. “Entrepreneurs need to be aware of the financial solutions available to them in the marketplace. Some of our solutions look like equity, and some look like debt. These are things that are customized to the client, and if they don’t ask about them they might not have the information available to them about what others are doing.”

16 SUMMER 2015

REMEMBER THE IMPORTANCE OF HUMAN CAPITAL: Often, cutting staff is one of the first survival mechanisms companies turn to. But some experts mentioned the importance of retaining highly-skilled tradespeople in order to keep business running smoothly. Negative outlooks may also encourage employees to look at other industries, so it is important for businesses to encourage skilled workers to stay. “Although there is a lot of focus on technology and innovation, I think we also need to remember to develop well-skilled tradespeople,” says Russell Barnes, Director of RBC’s energy services National Client Group. “The industry needs to communicate that it is a vibrant industry with a great future.”

PLAN FOR THE WORST CASE, HOPE FOR THE BEST CASE: Stringent planning will be needed in order to secure capital through the remainder of the year and into 2016. Businesses that prepare for the worst, and communicate these contingency plans with senior management and executive teams as well as shareholders, employees, landlords and banks will be better positioned to get through. “What’s the low case, and how tough is this potentially going to be? It’s time to look at that, and renegotiate everything possible on the cost side,” says Edgelow. “Communicate well, and often, with no surprises. Be as transparent as you can. In this environment, those that communicate well enough will be rewarded, because no one wants surprises.”

PETROLEUM SERVICES NEWS

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FUEL FOR

THOUGHT More natural gas and carbon footprint reporting, fewer oil sands mega-projects are in store for our energy future

N APRIL, Peter Tertzakian, Chief Energy Economist and Managing

Director, of ARC Financial Corp., gave a riveting keynote presentation as part of PSAC’s Energy Blueprint series. In his presentation, “The Future of Canada’s Oil and Gas Industry,” Tertzakian shared his vision of how Canada fits into the world energy market in light of current low oil price circumstances. He also presented on what Canada’s oil and natural gas industry will look like three, five and 10 years from now, based on a series of technology, labour and finance discussions he had with experts in petroleum services technology and innovation, senior educators and academics, oilsands producers, leading financial analysts and government ministers and senior staff. Tertzakian provided attendees with a number of important takeaways. He first suggested that natural gas – the greenest of fossil fuels – will be the fuel of the future. As efforts ramp up to address climate change issues and create efficiencies in renewable energies, oil will likely be supplemented as an energy source with alternative energies such as wind and solar. In his natural gas-focused scenario, Tertzakian sees the number of longterm megaprojects – particularly those in the oil sands and offshore space – diminishing dramatically due to the volatility of commodity prices and the resulting uncertainty of long-term capital investments. He noted that, as these large projects are reduced, there will be a rebalancing between oil sands and conventional oil exploration and production activity. The only large projects Tertzakian expects to be considered in the near

18 SUMMER 2015

term would be those related to liquefied natural gas (LNG), adding that Canada has the potential to be a key player in the world of LNG because of the nation’s vast resources. Still, he noted that LNG projects face enormous challenges in the future, like securing favourable tax regimes, finding and keeping skilled labour and managing local First Nations issues. Another key point Tertzakian made centred on the carbon footprint made by the fossil fuel industry. He says there are investment firms, foundations and universities with diminishing appetites for investing in petroleum industry companies that produce a larger-than-necessary greenhouse gas (GHG) footprint, and he expects that perspective to spread. Going forward, he can see companies reporting their carbon footprints in a very detailed way for investors – much like a food label – breaking down the GHG contribution of each operating activity, whether in the field, vehicle, warehouse, machine shop or office. Tertzakian added that the need for producers to reduce their GHG emissions presents a solid business opportunity for services companies. Toward the end of his presentation, Tertzakian highlighted charts that represented potential investment capital that defies the overall sense of negativity for the Canadian oil and natural gas sector. To Tertzakian, this data indicated that as much as, or potentially even more, capital is available now than what was realized during the relative “high time” in Canada, prior to the last quarter of 2014 and the rapid decline in oil prices in early-2015. Tertzakian wrapped up his presentation by assuring participants that the

PETROLEUM SERVICES NEWS

Bruce Edgelow, Vice-President Energy, ATB Corporate Financial Services, at left, introduced Peter Tertzakian at PSAC’s Energy Blueprint event.

Peter Tertzakian, ARC Financial Corp., gave an engaging presentation titled: The Future of Canada’s Oil and Gas Industry.

K E YA N O C O L L E G E

The overflow crowd was riveted by Tertzakian’s presentation.

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Mark Salkeld, PSAC’s President and CEO, welcomed attendees to the event.

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economy will indeed turn around, and when it does, petroleum industry companies will be faced with all the usual challenges that are currently on the back burner, including skilled labour and escalating wages. Tertzakian thanked PSAC for being one of the first organizations to invite him many years ago to be a keynote presenter and for continuing to involve him in services sector events. He spoke for an hour and a half, and the overflow crowd of PSAC members and other attendees were focused on every single word. Everyone agreed they got more than their money’s worth from this timely and insightful Energy Blueprint session.

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Working Energy Investment Forum showcases services companies

S PART OF THE Global Petroleum Show, and in partnership with the Explorers

and Producers Association of Canada (EPAC), PSAC proudly hosted the Working Energy Investment Forum in early June. The forum fostered informed discussion about petroleum services companies and their cutting-edge innovations, recognized performance and opportunities for investment. The intensive, informative event gave participants direct access to key leaders within the private and public services companies profiled here. Audience members appreciated the focused format and took advantage of the unique face-to-face forum by asking a number of questions. The timing of the event was interesting, given the 2015 economic climate. PSAC realized the importance of showcasing how member companies are managing their way through the economic downturn, by streamlining operations and keeping prices low for customers while devising innovations that make their operations faster, smoother, cleaner and safer. That truly is the “working energy” that makes our member companies successful. PSAC recognizes our sponsors – ATB Corporate Financial Services and Simmons & Company International – for the support of our members and the event. We also thank EPAC for inviting us to join them in this joint producer-services company investment forum.

20 SUMMER 2015

PETROLEUM SERVICES NEWS

EVENT SPONSORS PRESENTED BY:

PRESENTING COMPANIES:

ATB CORPORATE FINANCIAL SERVICES ATB Corporate Financial Services, a division of ATB Financial, is a full service financial institution serving the needs of mid- and senior-market businesses with operations in the province of Alberta. Offering a wide range of business solutions from credit, deposit, cash management, financial markets and syndications, ATB provides highly responsive relationships to our clients through industry expert Relationship Management teams. Focusing on the sectors that drive Alberta’s economy, like energy, real estate, construction, food and forestry, ATB is proud to be a financial partner that stays the course for its clients. Through the credit crunch, depressed commodity prices and global economic turmoil, ATB is focused on building custom solutions to help our clients do what they do best: lead. Because Alberta means the world to us. www.atb.com/corporate

BLUE SPARK ENERGY Blue Spark Energy, headquartered in Calgary, is a private company that enables customers to economically accelerate production and improve the recovery rates of their oil and gas wells. Blue Spark’s unique technology, experienced team and collaborative approach in assisting customers improve their economics and reduce their environmental impact is attracting customers worldwide. www.bluesparkenergy.net

PANEL SPONSORS:

PWC As the leading Canadian energy industry professional services firm, our energy practice has more than 1,000 partners and members delivering industry-specific solutions to more than 1,600 energy companies of all sizes. PwC includes energy and public sector specialists and economists from across Canada. The team audits six of the top 10 public oil and gas producers (based on revenue), and provides professional services to more than 65 per cent of the Canadian oil and gas companies. www.pwc.com/ca/energy

SIMMONS & COMPANY INTERNATIONAL Simmons & Company is a leading financial advisory firm for the energy industry, with four offices and over 150 professionals. Its headquarters are in Houston with other offices in Aberdeen, London and Dubai. The firm’s corporate finance group specializes in mergers and acquisitions, and raising debt and equity capital. Simmons & Company covers the entire spectrum of the energy industry and its clients range from small private companies to large public entities. Our equity research team provides our clients with proprietary, fundamental market analysis on domestic and global macro energy issues, as well as in-depth coverage of approximately 145 U.S. and European companies. Our research is complemented by a securities sales group which is consistently highest-rated in the energy industry, and an experienced trading group with best-in-class technology, providing speed, versatility and dependability for our clients. www.simmonsco-intl.com

WWW.PSAC.CA

CIVEO CORPORATION Civeo is a global workforce accommodation specialist that helps people maintain healthy, productive and connected lives while living and working away from home. Our unique approach focuses on guest wellbeing, operational efficiency, community building and a property development mindset – making us a leading provider of accommodation solutions. www.civeo.com

DISTRIBUTIONNOW DistributionNOW is an industry-leading provider of pipe, valves and valve automation, fittings, mill and industrial supplies, tools, safety products and artificial lift systems to the upstream, midstream, and downstream and industrial markets. It is also recognized as a leading supply chain solutions company, providing value-added services, including supply chain management, project management and e-commerce solutions. The company’s associates have extensive knowledge, broad experience and a thorough understanding of our customers’ process and business drivers. www.distributionnow.com

PRESENTING COMPANIES:

ENSIGN ENERGY SERVICES INC. Ensign Energy Services Inc. is a global leader in oilfield services, headquartered out of Calgary and operating in Canada, the U.S. and internationally. It is one of the world’s top land-based drilling and well servicing contractors serving crude oil, natural gas and geothermal operators, and its premium services include contract drilling, directional drilling, underbalanced and managed pressure drilling, rental equipment, well servicing and production services. www.ensignenergy.com

PRECISION DRILLING CORPORATION Precision is a leading provider of safe, high-performance and high-value services to the oil and gas industry. Precision provides customers with access to an extensive fleet of contract drilling rigs, directional drilling services, well service and snubbing rigs, coil tubing services, camps, rental equipment and water treatment units backed by a comprehensive mix of technical support services and skilled, experienced personnel. Precision is headquartered in Calgary and is listed on the Toronto Stock Exchange under the trading symbol “PD” and on the New York Stock Exchange under the trading symbol “PDS”. www.precisiondrilling.com

ENTREC CORPORATION ENTREC is an employee-owned integrated crane solutions provider to the oil and natural gas, construction, petrochemical, mining and power generation industries. Operating from 13 locations throughout Alberta, British Columbia and North Dakota, ENTREC currently employs approximately 700 employees and operates a fleet of 245 cranes, 830 multi-wheeled trailers and 250 tractors, as well as approximately 400 lines of specialized platform trailers. www.entrec.com

STRAD ENERGY SERVICES LTD. Strad is a leading provider of equipment rental solutions for various sectors of the North American energy industry. The company’s priority is complete customer satisfaction through the delivery of quality products and services for producers active in unconventional resource plays, as well as for pipeline, power transmission and facilities construction projects. www.stradenergy.com

NCS MULTISTAGE NCS Multistage is an independent technology and services company specializing in multistage completions. Today the company is the world leader in coiledtubing-deployed frac-isolation technology used to develop unconventional oil and gas resources. NCS has operated throughout North America, Mexico, Argentina, Australia, China and Russia, with a record of more than 5,700 field successes. ncsmultistage.com

TERVITA CORPORATION Tervita is a leading environmental solutions provider. Its integrated earth, water, waste and resource solutions deliver safe and efficient results through all phases of a project by minimizing impact, maximizing returns. More than 2,500 dedicated employees are trusted sustainability partners to oil and gas, construction, mining, government and communities. Safety is Tervita’s highest priority: it influences the company’s actions and shapes its culture. www.tervita.com

22 SUMMER 2015

PETROLEUM SERVICES NEWS

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24 SUMMER 2015

PETROLEUM SERVICES NEWS

DRILLING ACTIVITY FORECAST UPDATE

Mid-Year Activity Update PROLONGED LOW OIL PRICES RESULT IN FURTHER DECLINE IN DRILLING ACTIVITY

2015 CANADIAN DRILLING ACTIVITY FORECAST (NUMBER OF WELLS)

5,000

4,000 ALBERTA: 2,976

3,000

2,000

1,000

SASKATCHEWAN: 1,507 BRITISH COLUMBIA: 555 MANITOBA: 270

TOTAL IN CANADA: 4,780

Note: Total includes activity in Northern and Eastern Canada.

OUR MONTHS OF low oil prices have led to significant

declines in drilling activity, according to PSAC’s 2015 Canadian Drilling Activity Forecast mid-year update. As of April 30, PSAC is forecasting a total of only 5,320 wells drilled (rig releases) across Canada for 2015. This dramatic decrease of 4,780 wells from PSAC’s original 2015 drilling forecast, released in October 2014, represents an astounding 47 per cent drop. PSAC is basing its updated 2015 forecast on average natural gas prices of CDN$2.50/mcf (AECO), crude oil prices of US$53/barrel (WTI) and the Canadian dollar averaging $0.77 per US dollar. “Oil prices dropped from an average of US$84.40 in October 2014 to an average of US$47.83 in March 2015,” says PSAC President and CEO Mark Salkeld. “It’s no surprise that an almost 44 per cent drop in oil prices has led us to forecast a similar decline in drilling activity for the

WWW.PSAC.CA

year, compared to our October 2014 forecast.” On a provincial basis for 2015, PSAC estimates 2,976 wells to be drilled in Alberta, down from 5,740 wells in the original forecast. In Saskatchewan, the expected well count is now 1,507 wells, less than half of the 3,365 wells in the original forecast, while Manitoba is forecasted to drill 270 wells, down by 160 wells from the original forecast. The outlier is British Columbia, which is expected to have a marginally increased 2015 well count, from 555 wells to 560 wells. “The interesting outcome from this downturn will be the innovative actions taken by companies to lower costs and create efficiencies that will better position Canada in the world of energy services, extraction and production,” says Salkeld. “The smart companies are using this downturn to prepare. When prices rebound, these companies will be more than ready – no doubt about it.”

PSAC IN ACTION THE PETROLEUM SERVICES ASSOCIATION OF CANADA (PSAC) CONTINUES TO KEEP THE SERVICE, SUPPLY AND MANUFACTURING SECTORS FRONT AND CENTRE THROUGH ADVOCACY AND OUTREACH. PSAC PRESENTS

From left to right, at Blue Spark Energy tour: Craig McDonald, Specialized Desanders; James Dyak, West Oilfield; John Taskinen, Snubco Pressure Control; Hon. Maxime Bernier, Minister of State for Small Business and Tourism; Dustin Menger, Logco Wireline; Elizabeth Aquin, PSAC; Todd Parker, Blue Spark Energy; Eric Dagenais, Director General, Industry Canada. • PSAC was invited to host a small business roundtable with Hon. Maxime Bernier, federal Minister of State (Small Business, Tourism and Agriculture) and to facilitate a site visit with a PSAC member. Six PSAC member companies attended the roundtable. PSAC member Blue Spark Energy gave a tour of its facility and demonstrated their technology. • The Canadian International Trade Tribunal asked PSAC to appear as part of its investigation into dumped imports of OCTG in Canada by nine countries. PSAC provided information related to current and future drilling activity levels, factors that contribute to activity levels and the petroleum services sector.

THIS PAST SPRING, PSAC PRESENTED TO: • CAPP’s Executive Policy Group for Fiscal and Economic issues, regarding the impact of low oil prices on the services sector and how producers and PSAC members can work collaboratively through the downturn. • A delegation of Department of Foreign Affairs, Trade and Development commissioners representing Argentina, China, Israel, Lithuania, Philippines and the United Kingdom, about PSAC and the Canadian services sector. • Battle Lake Watershed Synergy Group and West Central Stakeholders group in Rocky Mountain House, on services sector roles and responsibilities. PSAC’S ENERGY BLUEPRINT SERIES – APRIL 2015 In April, Peter Tertzakian, Chief Energy Economist and Managing Director, ARC Financial Corp., gave a riveting keynote presentation: “The Future of Canada’s Oil and Gas Industry.” In the presentation, sponsored by ATB Financial, Tertzakian shared his vision of what Canada’s oil and gas industry will look like three, five and 10 years from now. PSAC members and other attendees appreciated the keen insights and timeliness of the session. See full story page 18.

Peter Tertzakian, ARC Financial Corp.

HEALTH AND SAFETY • The consultant hired to conduct a review of the eGSO and registry the industry’s proposals for changes to Part 37 – Oil and Gas. The processes presented a report to the PSAC Board of Directors in industry is preparing a joint response to the comments. March. The report has also been reviewed by the PSAC Health • Further to the meeting held in January between PSAC member and Safety Committee. PSAC will be using the information in companies and representatives from the Saskatchewan Ministry of the report to initiate discussions with the other oil and gas Transportation, PSAC has been following up with CAPP on issues industry associations on ways to streamline the eGSO and related to the scheduling of drilling rig and heavy equipment moves, registries processes. the size and weight of equipment being transported and an invento• In February, PSAC met with the Chief Inspector of Explosives in ry of bridges in the province. Ottawa to discuss issues raised by PSAC members including: • The B.C. Commercial Vehicle Safety and Enforcement (CVSE) - Magazine electrical requirements (gun loading facilities) branch has raised several concerns with the methods being used by - Permitting requirements for the transportation of damaged/ industry to transport coil tubing reels on low-beds, including: the deteriorated explosives weight of this equipment, the trend toward bigger and heavier drill- Permitting requirements for the transportation of detonators ing rigs and the impact that work on twinning highways in north- Review of the Guidelines for Jet Gun Perforating Assembly Facilities east B.C. will have on the transportation of other heavy equipment • The Alberta government has provided industry with comments used in the oil and gas industry. PSAC raised these issues with the received during the public consultation process on proposed PSAC Transportation Issues Committee (TIC) and will be meeting changes to the OH&S Code, and specifically the comments on with CAODC and CAPP to discuss an industry response.

26 SUMMER 2015

PETROLEUM SERVICES NEWS

GOVERNMENT RELATIONS

LABOUR AND WORKFORCE MANAGEMENT

PSAC continues to meet with government officials and senior staff to ensure the petroleum services sector is well understood in terms of challenges and economic contribution, especially in light of anticipated provincial and federal elections and subsequent cabinet shuffles. PSAC recently met with: • Jay Hill, Alberta’s new Senior Representative to Saskatchewan, British Columbia, the North and the New West Partnership, to introduce PSAC and discuss the benefits of Canadian competitiveness through harmonization of various regulations across the western provinces. • Deputy Chief of Staff to Leader of the Official Opposition Thomas Mulcair, along with NDP parliamentary affairs staff, to introduce PSAC. NDP staff were interested in the effects on PSAC members of changes to the Temporary Foreign Workers Program. • Hon. Geoff Regan, Liberal MP (Halifax-West) and Vice-Chair of the House of Commons Standing Committee on Natural Resources, to introduce PSAC. Regan was very concerned about hydraulic fracturing chemicals. PSAC will be following up with a further meeting with the Natural Resources Committee.

TO ADDRESS LABOUR ISSUES THAT IMPACT MEMBERS, PSAC MET WITH: • Athana Mentzelopoulos, new B.C. Deputy Minister of Jobs, Tourism and Skills Training, to introduce PSAC and the sector, and to discuss labour needs and challenges. • The Director of the B.C. Ministry of Aboriginal Relations & Reconciliation, regarding jobs in the services sector, employment initiatives for First Nations people and connecting PSAC members with Treaty 8 band members. PSAC members have indicated an interest in finding ways to train and recruit more First Nations people. • The Executive Director of Alberta Labour Attraction and Retention, Jobs, Skills, Training and Labour, to discuss developing recommendations on how the Canada Job Grant can be structured to accommodate oilfield services sector employers that conduct in-house training.

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PSAC also contacted the federal Employment Insurance commissioner to inquire about a work-share program for the services sector. PSAC then arranged for representatives to explain the program to the HR Committee and answer members’ questions. Learn about the program here: servicecanada.gc.ca/eng/work_sharing/ index.shtml.

We Facilitate Protecting Lives & Mother Earth

Worldwide Patents/Patents/Patents Pending

“The system has proven very effective in controlling spills associated with oilfield drilling which subsequently has a positive impact on the environment.” -Operations Manager for Ensign Drilling Inc

North America: 1-800-840-2877 International: 1 (780) 414-6083 WWW.PSAC.CA

Katch Kan works with operating companies and drilling contractors to ensure access to efficient safe and proactive solution to prevent the loss of drilling fluids and the contamination of drilling sites.

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MEMBER PROFILE

Blue Spark Energy employees sit in their Calgary office.

A Shock to the Well CALGARY ENERGY COMPANY’S NEW TECHNIQUE IS ELECTRIFYING BY SÉAMUS SMYTH

HAT ON EARTH

can revitalise oil well technology and inject precious life into old wells, all without the use of water, chemicals or explosives? A new technology courtesy of Alberta’s Blue Spark Energy might just have the answer.

“WE WANT TO CONTINUE DEVELOPING TECHNOLOGICAL ADVANCES IN OUR SECTOR THAT WILL BE SUSTAINABLE BEYOND FUTURE ENVIRONMENTAL REGULATIONS.” – MARCI HAMILTON, BLUE SPARK ENERGY’S GLOBAL SERVICES MANAGER

Blue Spark has developed a wireline applied stimulation pulse (WASP) technology that converts, compresses and discharges electrical energy as usable high-power hydraulic pulses to improve connectivity between the well bore

28 SUMMER 2015

and reservoir quickly, safely and efficiently. The technology has been proven to enhance oil flow in new or poorly producing wells, recover reserves from non-producing wells and increase flow in injector and disposal wells. Essentially, Blue Spark’s method shocks the stagnant or blocked oil and helps re-stimulate flow in the well. The name Blue Spark derives from what one sees when the physical pulse goes into action. “When we have clients out to our Calgary operations facility to view one of our demonstrations, we operate the tool without the external membrane to allow clients to see the spark. Clients typically make the Blue Spark connection right away after seeing the tool fire,” says Marci Hamilton, Blue Spark Energy’s Global Services Manager. Blue Spark is currently the only company in the province showing off the technology. The lack of pollutants and use of resources separates Blue Spark from the pack, although in today’s business world, according to Hamilton, “being environmentally responsible is just good business. “It’s less about leading the charge to change and more about offering alternatives through innovation. We want to continue developing technological advances in our sector that will be sustainable beyond future environmental regulations,” she adds.

PETROLEUM SERVICES NEWS

Although the current energy situation in Calgary is worrisome, Blue Spark Energy was formed in January 2011 by President and CEO Todd Parker. This followed Parker travelling to France to meet with a Hamilton views this as an opportunity for companies to re-evaluate group of scientists working with high-pulsed power to discuss possible their business models and potentially be more open to a technology that Blue Spark has to offer. applications in the oil and gas world. “It is difficult not to get distracted during a downturn, but I think it is “Todd is responsible for bringing the technology and our tools from critical to understand the oppora drawing on a whiteboard tunities that these changing condiprototype to a commercial tions represent,” she says. application,” says Hamilton. It Blue Spark has helped improve was the fusion of technology and oil production in 200 wells Parker’s leadership that swayed since 2011. Hamilton expects Hamilton to join the ambitious the company to become a major atmosphere at Blue Spark. – HAMILTON player in the energy market, “When he formed Blue Spark, I was interested in hearing more about the technology. He had shown because its work speaks for it itself. “The technology is successful on its own merits, because it does what me a video clip of the work being done by a team in France and I knew we say it will do,” she says. “After more than 300 jobs globally with an immediately this was something that I wanted to be a part of.” Hamilton joined Parker in May of 2011 as the company’s second em- average improvement of over 200 per cent, the results are reaffirming ployee. Engineering manager Jesus Minakata joined a few weeks later, that we are on the right path and will continue working with our technology towards new developments.” and the company’s first field jobs were completed that July.

“IT IS DIFFICULT NOT TO GET DISTRACTED DURING A DOWNTURN, BUT I THINK IT IS CRITICAL TO UNDERSTAND THE OPPORTUNITIES THAT THESE CHANGING CONDITIONS REPRESENT.”

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A LOOK AT LEADERSHIP PETROLEUM SERVICES NEWS TALKS WITH PSAC’S BOARD OF DIRECTORS AND TAKES A PERSONAL LOOK AT LEADERS IN THE SERVICES SECTOR. THIS ISSUE WE MEET: TOM WHALEN President and Managing Director Baker Hughes Canada Inc. BILL DARLING General Manager – Innovator Division Mustang Well Services Ltd.

TOM WHALEN

BILL DARLING

IF YOU COULD DO ANY OTHER JOB/OCCUPATION, WHAT WOULD THAT BE? TW: Stock broker. BD: Running a hot rod fab shop. WHAT IS YOUR FAVOURITE BOOK OF ALL TIME? TW: Killing Patton by Bill O’Reilly. BD: Atlas Shrugged by Ayn Rand was required reading growing up. WHAT ABOUT MOVIE? TW: Titanic BD: Shawshank Redemption

BD: Do unto others as you would have them do unto you. IF YOU COULD TRAVEL TO ANYWHERE IN THE WORLD, WHERE WOULD YOU GO? TW: Greece BD: Africa IN 10 WORDS OR LESS, WHAT WOULD YOU SAY ABOUT HOW 2015 IS GOING TO TURN OUT? TW: 2015 is going to be a milestone year of tremendous change for the oil industry. BD: Challenging, thank heavens for abandonments and natural gas.

IF YOU COULD INVITE THREE FAMOUS PEOPLE (DEAD OR ALIVE) TO DINNER, WHO WOULD THEY BE AND WHAT WOULD YOU SERVE? TW: Bill Clinton, John Wayne and Elvis Presley. I would serve Canada Grade A steak accompanied by mashed potatoes and steamed green beans. BD: I’d serve Jesus, Richard Rohr and Mother Theresa turkey with all the trimmings.

WHICH TALENT WOULD YOU MOST LIKE TO HAVE? TW: Musical ability. BD: The ability to play guitar the way Stevie Ray Vaughan does.

WHAT DO YOU THINK IS THE BIGGEST CHALLENGE FACING CANADA’S ENERGY INDUSTRY AT THIS TIME? TW: The constraints of exporting LNG and oil to other markets beyond the U.S. BD: Access to markets is by far our greatest concern.

WHAT IS YOUR MOST TREASURED POSSESSION? TW: My photos. BD: My road bike.

WHAT WOULD YOU SAY IS YOUR BIGGEST ACCOMPLISHMENT TO DATE? TW: Starting the oil sands chemical business for Baker Hughes in 2001. BD: Building the first abandonment rig ever built. WHAT MOTTO OR PHRASE DO YOU LIVE BY? TW: Learn to do by doing.

30 SUMMER 2015

IF YOU COULD CHANGE ONE THING ABOUT YOURSELF, WHAT WOULD IT BE? TW: Better work-life balance. BD: More patience.

WHO ARE YOUR HEROES IN REAL LIFE? TW: My mother would rank as the most positive inf luence on my life. BD: Anyone who suffers adversity and makes the best of it. Stephen Hawking, and all cancer survivors. WHAT FOOD DO YOU CRAVE? BETTER YET, WHAT SIGNATURE MEAL DO YOU MAKE? TW: Pork tenderloin. BD: All sweets – I can’t cook.

PETROLEUM SERVICES NEWS

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