02-20-2021, 03:38 PM
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#301
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Franchise Player
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When I started my career in O&G the hot play in Alberta was coal bed methane in the Drumheller region. Everyone was going crazy for poking shallow holes for that natural gas. At that time I think gas was around $8 or so.
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02-20-2021, 03:52 PM
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#302
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First Line Centre
Join Date: Feb 2013
Location: BELTLINE
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Quote:
Originally Posted by calgarygeologist
When I started my career in O&G the hot play in Alberta was coal bed methane in the Drumheller region. Everyone was going crazy for poking shallow holes for that natural gas. At that time I think gas was around $8 or so.
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That can't have been a fun play for a geologist, I'd imagine. Drilling for coal bed targets doesn't seem fun but maybe I'm wrong.
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02-20-2021, 04:07 PM
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#303
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Franchise Player
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Quote:
Originally Posted by DiracSpike
That can't have been a fun play for a geologist, I'd imagine. Drilling for coal bed targets doesn't seem fun but maybe I'm wrong.
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Probably not. I was never involved with CBM. I always did international exploration which is fun, in my opinion. I'm personally not a big fan of any play that is heavily drilled and which is mostly engineering based vs focused on Geological principles. I like developing plays with limited control points.
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02-20-2021, 07:54 PM
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#304
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Franchise Player
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Hasn’t any company who is spending money on abandonments been abandoning their shallow gas? With Incoming mandatory asset retirement I suspect companies will continue to abandon the low hanging fruit.
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02-21-2021, 08:35 PM
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#305
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First Line Centre
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Quote:
Originally Posted by calgarygeologist
When I started my career in O&G the hot play in Alberta was coal bed methane in the Drumheller region. Everyone was going crazy for poking shallow holes for that natural gas. At that time I think gas was around $8 or so.
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I recall closer to ~$11 for the CBM gas gathering networks and facilities which I designed and had built including compressor packages through central Alberta. At the time the CBM wells and pipeline systems were based upon ~100-200mscfd per well, but really discharged closer to 50-120'ish . Pretty cool stuff actually... were pulling the pipelines down as low as ~1-3psi (7-20kpa) which was madness IMO. Needless to say the economics were tight even at $7 gas, but were good at $9+ while they lasted.
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02-21-2021, 10:22 PM
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#306
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Franchise Player
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Quote:
Originally Posted by RichieRich
I recall closer to ~$11 for the CBM gas gathering networks and facilities which I designed and had built including compressor packages through central Alberta. At the time the CBM wells and pipeline systems were based upon ~100-200mscfd per well, but really discharged closer to 50-120'ish . Pretty cool stuff actually... were pulling the pipelines down as low as ~1-3psi (7-20kpa) which was madness IMO. Needless to say the economics were tight even at $7 gas, but were good at $9+ while they lasted.
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An extra 50-100 mcf/d is pretty handy for the economics of a shallow gas well you're drilling anyway, or already have though. Especially if you don't frac them, if its just perf and go.
I can see how that would be super boring for a geologist though. I picked cbm perfs once upon a time as young completions engineer. It took the area geo about 5 minutes to confirm I could pick the right coal seam.
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02-23-2021, 05:34 PM
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#307
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First Line Centre
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looks like the layoffs will be coming tomorrow at TORC. rough times
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02-23-2021, 08:52 PM
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#308
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First Line Centre
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Quote:
Originally Posted by dirk diggler
looks like the layoffs will be coming tomorrow at TORC. rough times
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Tough times for sure... I know a coupla folks there. They've had several months to really stew/dwell on the prospect. Sometimes just ripping the bandoff is best, mind you with several months you can start adjusting your spending habits well ahead and making other life-oriented plans.
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02-24-2021, 04:57 PM
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#309
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#1 Goaltender
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Quote:
Originally Posted by calgarygeologist
When I started my career in O&G the hot play in Alberta was coal bed methane in the Drumheller region. Everyone was going crazy for poking shallow holes for that natural gas. At that time I think gas was around $8 or so.
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Ha, same here... heady days getting taken out by those plunger lift sales guys.
I recall pitching to my management back then that we should try to find a rig that could drill a long horizontal lateral into the 3-5m thick viking formation that was ALL OVER our Judy Creek acreage, and being laughed at about the concept of drilling super long laterals in tight windows.
Man I hated working in that industry.
__________________
Quote:
Originally Posted by Biff
If the NHL ever needs an enema, Edmonton is where they'll insert it.
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03-15-2021, 08:02 AM
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#310
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First Line Centre
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I've heard there will be another large round of layoffs tomorrow at Cenovus
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03-15-2021, 09:40 AM
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#311
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First Line Centre
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Quote:
Originally Posted by Calgary14
I've heard there will be another large round of layoffs tomorrow at Cenovus
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They've had so many of these rounds the last few years... talk about hard and stressful. No wonder moral and motivation is suffering over there. Except for those hoping for an early retirement package.
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03-15-2021, 11:10 AM
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#312
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Franchise Player
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Quote:
Originally Posted by RichieRich
They've had so many of these rounds the last few years... talk about hard and stressful. No wonder moral and motivation is suffering over there. Except for those hoping for an early retirement package.
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That reminds me a lot of what Imperial did years ago. Had a buddy who worked there. They did several rounds of layoffs. Each time they did everyone was ranked 1, 2, or 3 and all the 3s were let go. Not so bad the first round as it was mostly deadwood but by the time it got several rounds in it was pretty demoralizing watching people who were ranked 1 the first time now becoming 3's and told they weren't cutting it anymore and time to go.
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03-15-2021, 11:14 AM
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#313
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Norm!
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I remember talking to a buddy a few years back. Basically the company he was with (O+G) decided to do a round of layoffs. So they gathered the managers and went through the rating excercise. Then the managers did the layoffs. Then the company after the layoffs were done laid off the managers.
The first rule of assassination, kill the assassin.
__________________
My name is Ozymandias, King of Kings;
Look on my Works, ye Mighty, and despair!
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03-15-2021, 11:28 AM
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#314
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Franchise Player
Join Date: Oct 2001
Location: sector 7G
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Quote:
Originally Posted by Calgary14
I've heard there will be another large round of layoffs tomorrow at Cenovus
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Started today.
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03-15-2021, 11:37 AM
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#315
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Franchise Player
Join Date: Mar 2007
Location: Calgary
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Quote:
Originally Posted by CaptainCrunch
I remember talking to a buddy a few years back. Basically the company he was with (O+G) decided to do a round of layoffs. So they gathered the managers and went through the rating excercise. Then the managers did the layoffs. Then the company after the layoffs were done laid off the managers.
The first rule of assassination, kill the assassin.
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I've seen this before, in the same day, with even the HR person overseeing it gone at the end.
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03-15-2021, 11:44 AM
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#316
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Franchise Player
Join Date: Mar 2007
Location: Income Tax Central
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Quote:
Originally Posted by burn_this_city
I've seen this before, in the same day, with even the HR person overseeing it gone at the end.
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Never ceases to amaze me at times.
__________________
The Beatings Shall Continue Until Morale Improves!
This Post Has Been Distilled for the Eradication of Seemingly Incurable Sadness.
If you are flammable and have legs, you are never blocking a Fire Exit. - Mitch Hedberg
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03-15-2021, 11:46 AM
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#317
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Loves Teh Chat!
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Quote:
Originally Posted by Calgary14
I've heard there will be another large round of layoffs tomorrow at Cenovus
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How is there anyone left at Cenovus?
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03-15-2021, 11:47 AM
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#318
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Loves Teh Chat!
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Quote:
Originally Posted by burn_this_city
I've seen this before, in the same day, with even the HR person overseeing it gone at the end.
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A lot of the time the HR person knows they're gone at the end too.
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03-15-2021, 08:39 PM
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#319
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Crash and Bang Winger
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Quote:
Originally Posted by Torture
How is there anyone left at Cenovus?
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They picked up a few thou new employees last quarter
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03-15-2021, 10:01 PM
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#320
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Farm Team Player
Join Date: Sep 2002
Exp: 
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It'll be tough to sleep tonight knowing the axe will be swinging tomorrow. My calendar is cleared and I'll be sitting by the phone all day tomorrow hoping it doesn't ring. Hoping for the best but prepared for the worst... *sigh*
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