As the year draws near, it brings a time to pause and reflect on the highlights and challenges we faced this past year. Of course this year has been very trying for oil and gas producers and service companies alike. Fortunately, the COVID-19 pandemic has had little effect on our day-to-day operations and we have continued to develop and launch new products and grow our footprint domestically and internationally.
With every obstacle comes opportunity. Optimizing existing oil and gas assets is more important than ever before. At the same time, there has never been more emphasis on the need to soften our industry’s carbon and methane footprint. The new $675M Emissions Reduction Fund from the Government of Canada will subsidize up to 50% of the total cost of methane emissions projects. Our HCG and WGC compressors are a ready-to-deploy solution that boosts your company’s oil and gas production and reduces methane and CO2 emissions.
2020 will certainly be remembered for a lot of things, West Texas Intermediate price of negative $37.63/bbl on April 20 being one of those highlights. The optimists among us will also remember 2020 as the year in which WTI prices climbed over $85/bbl in a few months!