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Trican Well Service Ltd T.TCW

Alternate Symbol(s):  TOLWF

Trican Well Service Ltd. is a Canada-based oilfield services company. The Company supplies oil and natural gas well servicing equipment and solutions to its customers through the drilling, completion and production cycles. Its services include hydraulic fracturing, cementing, acidizing, coiled tubing and technical solutions. Its cementing solutions combine equipment, quality cement blends and ongoing research and development. Cementing solutions include pre-flushes and spacers, surface cementing, intermediate cementing, liner cementing, cement plugs and others. The coiled tubing includes milling, coiled tubing fracturing, E-Coil and others. It provides equipment, engineering support, reservoir expertise and laboratory services through the delivery of hydraulic fracturing, cementing, coiled tubing, nitrogen services and chemical sales for the oil and gas industry in Western Canada. Its milling services include fracturing plugs, fracturing ports, stage tool/debris sub and others.


TSX:TCW - Post by User

Bullboard Posts
Comment by MrAlbertaon Nov 09, 2019 10:57am
218 Views
Post# 30331236

RE:Alberta lifts curtailments on conventional drilling

RE:Alberta lifts curtailments on conventional drilling In theory, lifting the curtailment should help stimulate new wells and in turn some well completion work should help Trican. On the other hand, unless the total amount of oil being produced is slightly less than output capacity (pipelines, rail, truck, etc.) to get the products to market, we are still yelling at the wind. Anytime buyers of a product knows you have lots of it stockpiled, they low ball offers to make you unload product on the cheap. Only scarcity, or perceived scarcity, brings value. The catch-22 in this case is that with the oil price differential for WCS back over $20 relative to WTI, it is really hard to justify drilling a new well. With various O&G bankruptcies, surviving companies can buy active wells in receivership sales without drilling at all. It'll take years to untangle this mess and lifting the drilling curtailment was just one such necessary step; I just don't think that anyone is optimistic enough to drill the first new well yet. Once we see an uptick in drilling, then I will believe we are turning things around.
Bullboard Posts