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Inflation in the oilpatch appears to be pretty sticky these days. A quick glance at median operating costs and transportation costs across a broad spectrum of producers in Canada shows that fact very well. Q2 results are basically all in by now, and we are not seeing any reprieve on these two metrics as of yet, although Q2 was a challenging quarter on production for many given wildfire impacts in May. The following charts all come from BOE Intel . Reach out for a demo here. Figure 1 – Industry median operating costs Figure 2 – Industry median transportation costs As we were going through some of the many charts offered by BOE Intel , one company stood out in particular for the way it has managed its cost structure. Crew Energy is one of the very few (and maybe only) that we could find that has a lower cost structure today than it did in Q1 2018. The basis for this analysis is shown in Figure 3, a BOE Intel chart that stacks op costs, transportation, royalties, and G&A. Figure 3 – Crew Energy cost structure The usual caveats would apply here of course as Crew did have […]
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