Calgary Branch Luncheon - Canadian Drilling Outlook
11:15 am - 1:15 pm
Register by May 20, 2018
Canadian Drilling Outlook: Industrialized Scale and Technology Innovation vs. Losing the Competition for Capital
The North American "Shale Revolution" has been game changing for the land drilling industry. However, Canada runs the risk of falling behind or missing the next wave of drilling technology innovation and investment, a leadership advantage we have demonstrated and enjoyed for decades. Many key enabling drilling technologies such as directional/horizontal drilling, top drives, AC-powered rigs, pad development drilling and high efficiency highly mobile drilling rigs—to name a few—have their technology roots in Canada, where the Western Canada Sedimentary Basin has long been viewed as a hot bed of drilling technology innovation.
Tight oil, natural gas, and natural gas liquids are abundant in Canada and the United States, with both countries benefiting from sunk costs in infrastructure, people, and equipment facilitating the shale opportunity. In the U.S., the Permian, Niobrara, and Marcellus, to name a few; and in Canada, the Montney, Duverney and Cardium, are recognized as globally attractive shale plays. Full-scale development of these tight resource plays remains economically challenging in the highly volatile commodity price environment of today. To mitigate the commodity price and volatility risk, the industry has focused on drilling technology and industrial scale to improve process efficiency and reduce drilling costs.
Recent events, particularly counterproductive political discourse, ill-timed government policies/regulatory change and misdirected environmental activism have discouraged investors from deploying capital in the Canadian oil and gas industry, while the U.S. industry is enjoying strong investment and growth. Canada is losing the competition for capital, falling behind in the large scale industrial development opportunity, and we are in jeopardy of losing our reputation as a leader in innovation and technology.
In this presentation Kevin will discuss some of these technical developments, the importance of industrial scale and the risks facing the Canadian oil and gas industry.
About the Presenter
Kevin A. Neveu, P.Eng., is President and Chief Executive Officer and a Director of Precision Drilling Corporation and has held these positions since joining the company in 2007.
Mr. Neveu has 36 years of experience in the oilfield services sector holding technical, marketing, management and senior leadership positions over his career. Previously, Mr. Neveu was President of the Rig Solutions Group of National Oilwell Varco, Houston and held senior management positions with it and its predecessor companies in London, Moscow, Houston, Edmonton and Calgary.
Mr. Neveu currently serves as a Director Finning International and is a former board member of Bonanza Creek Energy and Rig Net. He is also a member of the Advisory Board for The Heart and Stroke Foundation of Alberta, and an Advisor for the University of Calgary's School of Public Policy. Kevin is a past Vice Chairman of the Executive Committee for the International Association of Drilling Contractors.
Mr. Neveu holds a Bachelor of Science degree and is a graduate of the Faculty of Engineering at the University of Alberta and is a registered Professional Engineer in the province of Alberta. He has also completed the Harvard Advanced Management Program in Boston, Massachusetts.
Fairmont Palliser Hotel
133 9 Ave SW
Calgary, AB T2P 2M3
May 24, 2018
11:15 a.m. to 1:15 p.m.
Kevin A. Neveu, P.Eng.
CEO & Director
May 20, 2018