To Our Partners
Given the events we are currently facing in Canada and worldwide, including the COVID-19 Pandemic and the City of Calgary declaring a State of Emergency, we find ourselves in a situation where we are working remotely from our offices. We kindly request that all types of notices be sent to the following email addresses:
Thank you in advance for your co-operation as we work through these unprecedented times.
ARTIS EXPLORATION LTD.
Jennifer Swertz VP Land
Artis’ Management has been carefully and proactively monitoring the COVID-19 pandemic. Our number one priority is ensuring the safety, health and well-being of our employees, contractors, vendors and service providers. Artis’ Response Team has been proactively implementing measures as set out by Health Canada and the Provincial Government to ensure limited exposure and transmission of the COVID-19 virus by implementing the following measures:
- Encouraging all employees, where possible, to work remotely from home and ensuring employees have all the resources to do so effectively;
- Continuous monitoring of key information sources such as CDC and AHS;
- Educating employees on good hygiene practices to limit the spread of germs;
- Workers that have recently travelled outside of Canada must self-isolate for a 14-day period;
- Workers that are feeling sick must stay home, including field employees;
- Group and face-to-face meetings must be avoided and replaced with telephone conferences and
online/email capabilities wherever possible;
- Social distancing of a minimum of 2 meters and staggered office use for Field and Corporate offices, while
ensuring continuity of field operations.
This coronavirus outbreak is an extraordinary evolving situation. Conditions can change at a moment’s notice such that they demand less (or more) aggressive action from all of us. We ask that you stay up-to-date by checking the following websites, and keeping a close eye on email communications from the Artis Response Team.
Government of Alberta:
Centre for Disease Control and Prevention (CDC)
Artis posted record financial results in 2019. The Company’s top decile results were mailed out in its 2019 Annual Report to shareholders and stakeholders last week.
However, the net price realized by light oil producers in Alberta has dropped from $70/bbl Cdn to about $15/bbl Cdn in the past month due to the reduction in demand for oil in North America due to the combined effect of the Coronavirus pandemic and the Saudi-Russia price war being waged upon the world. These are exceptional times for the Alberta Oil & Gas industry.
Given the collapse in oil prices in Alberta in the near term, Artis is suspending a significant portion of its oil and associated natural gas production. In addition, Artis will delay any capital investment in drilling, pipelines, and major construction until we see a sustainable price recovery for oil.
The Company is in very good financial health and will survive this period of crisis. Artis will continue to be an active producer and investor in the Trochu/Three Hills area and community for the long term. The Company plans to restart its wells and facilities when pricing allows for a reasonable return on its barrels, which it anticipates happening in a few months. We will continue to regularly maintain our well sites, roads and facilities and respect our commitments to the community and counties where we work. The Company is actively monitoring oil prices and all Alberta and Federal government bulletins pertaining to economic stimulus that may benefit our operations, people, stakeholders and the communities in which we operate. Rest assured we will be a first responder to any conditions that promote the restart of our activities. The Company wants to reiterate that it anticipates the virus and oil price impact to our business will be short- lived.
We will be providing more information on our Corporate website www.artisexp.com in the coming weeks. Please access our website for information or contact information and call our Corporate number @ (403) 452 9807 with any questions or concerns. We will get back to you as soon as possible.