PSAC, EDC, and Oliver Wyman a hosted a breakfast presentation on the latest trends in Oil and Gas Supply and Procurement on December 13th at the Calgary Petroleum Club.
As the low oil price continues, operators continue to pressure service providers to reduce costs, often beyond the level of profitability. Additionally, operators have significantly consolidated their supplier base, and are now beginning to push for additional concessions in pricing and supply chain models. There is a next wave of pressure coming, which will focus on practices from other industries such as gain sharing, full-cycle cost management, and implementation of continuous improvement approaches. This joint session discussed current and future supply chain and procurement trends in oil and gas; current supplier expectations from a range of firms-majors, independents, shale producers, and oil sands operators; procurement needs identified by EDC with its international financing clients in the USA and Mexico; the relevance of trends such as continuous improvement, open books, full life-cycle cost management, and gains; and concluded with a Q&A session.
Michael Cleland, the Energy Council of Canada’s 2015 Energy Person of the Year, and former President and CEO of the Canadian Gas Association spoke at our Industry Insights Luncheon and shared his thoughts on the key forces, beyond the oil price collapse, that could have a transformational effect on Canada’s energy industry including climate and carbon; end use markets; public confidence and technology.
At the 2016 AGM, PSAC Regular Members reviewed the audited financial statements, appointed auditors for the upcoming fiscal year, met newly appointed directors, and received reports from the Chair and the President and CEO of PSAC. In efforts to expand membership, by-law changes were approved. PSAC introduced a new category related to ‘Core’ membership called “Associate Core” members, and reviewed our ‘Associate’ member category and broke that category into several more specific ones under the general heading of ‘Affiliate’ membership.
Industry analysts joined PSAC’s president Mark Salkeld, and shared their business intelligence for the coming year. Expert analysts included: Jeff Fetterly, CFA, Principal, Oilfield Services Analyst, Peters & Co. Limited; Amir Arif, E&P Equity Research, Cormark Securities Inc.; and Ben Brunnen, Vice President, Oil Sands, Canadian Association of Petroleum Producers. PSAC presented the 2017 Canadian Drilling Activity Forecast and Industry Outlook.
On July 21st, PSAC celebrated the 15th anniversary of its Education Fund, and hosted executives and staff of the upstream petroleum industry and their guests for an enjoyable a day on the course, with activities and hole-in-one contests, including the opportunity to “Beat the President” and win $500. The day kicked off with a breakfast and a chance to win a golf bag and wrapped up with a barbeque banquet to network with clients and colleagues and a chance to bid on some great on-line auction items. The tournament is the primary fundraiser for the PSAC Education Fund which was established to increase awareness of and interest in petroleum related careers.
On April 15, 2016, PSAC hosted a breakfast seminar to provide information on accessing capital and expanding markets for Canadian businesses through a collaboration of funding from provincial and federal agencies in Alberta and Canada.
Despite the challenging year, PSAC members, donors and volunteers within this industry were generous and raised over half a million dollars! Also, gala attendees enjoyed a very personal concert by featured Canadian country music star and hearthrob Jason Blaine as well as an exciting, fun and memorable evening that included a champagne reception, dinner, live and silent auctions and dancing.
Has Canada become the world’s fossil fuel fall guy? PSAC keynote speaker, Vivian Krause, exposed how foreign special interests have funded the campaign against Alberta’s oil sands and the Canadian energy brand. Her research and writings uncovered the Tides Foundation’s involvement in the Tar Sands Campaign, whose aim is negatively brand Alberta oil, embarrass Canada and undermine investor confidence in the Alberta oil sands industry. Ms. Krause discussed her latest findings on the anti-Canadian oil campaign’s strategy leading up to the Paris Climate Conference, and what we need to do about it – now.
At the 2015 AGM, PSAC Regular Members reviewed the audited financial statements, appointed auditors for the upcoming fiscal year, met newly appointed directors, and received reports from the Chair and the President and CEO of PSAC. Distinguished Service Awards were presented to PSAC volunteers who had made an outstanding contribution in the past year. Industry analysts joined PSAC’s president Mark Salkeld, and shared their business intelligence for the coming year. Expert analysts included: Greg Coleman, MBA, Managing Director, National Bank Financial; Adam Gil, CFA, Institutional Research, CIBC World Markets Inc.; and Ben Brunnen, Manager, Fiscal and Economic Policy, Canadian Association of Petroleum Producers. PSAC presented the 2016 Canadian Drilling Activity Forecast and Industry Outlook.
Hosted by the Petroleum Services Association of Canada and sponsored by PSAC, CAODC, CAGC, CAPP, and EPAC, Dave Mowat presented Monday, October 5th, at a special speaker presentation that provided an overview of the ongoing royalty review, discussed what oil and gas workers should know about the process, and how they can provide their views to the panel.
Held at the Pomeroy Hotel and Conference Centre on September 10th, this year’s meeting had presentations from WorkSafeBC (compliance and regulatory issues; securing of high pressure lines); EnformBC (update on Enform activities and initiatives in BC); and PSAC (update on discussions with the BC CVSE Branch on issues related to permitting and transportation of overweight and over-dimensional loads in NE BC; the Alberta Royalty Review; process safety; and safety culture).
On July 16th, 132 executives and staff of the upstream petroleum industry and their guests enjoyed a day on the course with activities and hole-in-one contests, including the opportunity to “Beat the President” and win $1500. The day kicked off with a breakfast and a chance to win a golf bag and wrapped up with a barbeque banquet to network with clients and colleagues and a chance to bid on some great on-line auction items. The tournament is the primary fundraiser for the PSAC Education Fund which was established to increase awareness of and interest in petroleum related careers. Thanks to the generosity of our members and their guests, this year’s event raised approximately $30,000. More details can be found here.
Report authors Peter Howard of CERI and David Yager of MNP presented the Economic Contribution of the Oil and Gas Services Sector in Canada report’s findings at a luncheon event on June 15th. The report indicated the oil and natural gas services (OGS) sector’s contribution to the country’s economy is substantial – and growing! The OGS sector is much larger than many better-known industrial sectors, such as residential construction, motor vehicle manufacturing, mining, forestry and agriculture.
PSAC’s Working Energy Investment Forum fostered an informed discussion about petroleum service companies’ cutting-edge innovations, recognized performance and opportunities for investment. This intensive and informative event gave participants direct access to the key leaders of nine successful service companies, all in one room, in a single afternoon. This event was held in conjunction with the Explorers and Producers Association of Canada’s (EPAC) Investor Showcase.
The Weyburn Saskatchewan Oil and Gas Show provided another opportunity for the service and supply segment of the industry to show and display their wares and latest technology applicable to the oil and gas industry. PSAC member companies have been attending this event since the 1980’s and PSAC has hosted the official “Barnstorming Breakfast” for close to 20 years to show support to the community and the service industry operating in Southern Saskatchewan. The 2015 breakfast was held on June 4th and there was lots of food, including pancakes, fun, networking opportunities and community support.