7 - 2018 - Canadian Energy News, Top Headlines, Commentaries, Features & Events

PSAC Lowers Its 2018 Drilling Activity Forecast: Uncertainty Lingers in Canada While the US Records Record Oil Production

August 1, 2018July 31, 2018 by EnergyNow Media

Calgary, Alberta (July 31, 2018) – Today, the Petroleum Services Association of Canada (PSAC), in its third update to its 2018 Canadian Drilling Activity Forecast, announced that it was decreasing its forecasted number of wells to be drilled (rig released) across Canada for 2018 from 7,400 (April 2018 revision) to 6,900 wells drilled. PSAC based … Read more

2024 National Coalition of Chiefs Energy And Natural Resource Summit

Forecast calls for 500 fewer wells this year despite higher global oil prices

July 31, 2018July 31, 2018 by The Canadian Press

CALGARY — The head of Canada’s largest drilling company says he’s not surprised that a Canadian drilling forecast is being chopped despite higher global oil prices so far this year.
Kevin Neveu, CEO of Precision Drilling Corp., said Tuesday his compan…

BP gets Q2 boost from higher oil prices; earnings quadruple

July 31, 2018July 31, 2018 by The Canadian Press

LONDON — Energy giant BP says it is increasing its dividend for the first time in almost four years after second-quarter earnings quadrupled on higher oil prices and streamlined production.
Underlying replacement cost profit jumped to $2.82 billion fr…

Utica Resources Announces Enhanced Offer to Acquire Junex Inc.

July 31, 2018 by EnergyNow Media

July 31, 2018 CNW Junex Shareholders to Receive Premium Valuation and Opportunity to Participate in Additional Upside MONTREAL, July 31, 2018 /CNW/ – Utica Resources Inc. (“Utica“) today announced that it has delivered to the Special Committee of the Board of Directors of Junex Inc. (“Junex“) a revised offer (the “Offer“) to acquire Junex. Under … Read more

CN Rail CEO Vows Loyalty to Grain Farmers as Oil Shipments Climb

July 31, 2018 by EnergyNow Media

July 31, 2018 by Frederic Tomesco (Bloomberg) Crude oil demand may be on the rise again, but Canadian National Railway Co.’s new leader insists energy shipments won’t displace longtime railroad staples such as grain and lumber. Grain farmers in the western Prairie provinces saw exports slow to a crawl when Canadian National proved unable to … Read more

Oil Slips After Biggest Jump in a Month Amid Supply Increases

July 31, 2018 by EnergyNow Media

July 31, 2018 by Grant Smith and Tsuyoshi Inajima (Bloomberg) Oil retreated in New York after its biggest jump in more than a month as some of the supply risks facing the market abated. West Texas Intermediate futures slipped 0.5 percent, after climbing 2.1 percent to surpass $70 a barrel on Monday. Russia’s oil production … Read more

Baytex Reports Q2 2018 Results

July 31, 2018 by EnergyNow Media

July 31, 2018 | Source: Baytex Energy Corp. CALGARY, Alberta, July 31, 2018 (GLOBE NEWSWIRE) — Baytex Energy Corp. (“Baytex”)(TSX, NYSE: BTE) reports its operating and financial results for the three and six months ended June 30, 2018 (all amounts are in Canadian dollars unless otherwise noted). “We continued to deliver on our operational and financial targets in … Read more

Guilt By Permian Association Hits Some Too Hard: Liam Denning

July 31, 2018 by EnergyNow Media

July 30, 2018, by Liam Denning (Bloomberg Opinion) When the Permian basin sneezes, the U.S. oil and gas sector catches a cold. More accurately, the Permian has a nasty dose of congestion. Also more accurately, some in the industry have stronger immune systems than others. Exploration and production stocks that sold off in mid-May, as pipeline … Read more

Five Things to Know in World Business – July 31, 2018

July 31, 2018 by EnergyNow Media

July 31, 2018, by Lorcan Roche Kelly (Bloomberg) Slowing Economic data released overnight in Asia showed some weakening in China with both manufacturing and services PMIs coming in below forecast. In Europe, the pace of growth slowed for the euro-area with advance second-quarter GDP at 0.3 percent, below expectations for a 0.4 percent expansion, while … Read more

OPEC July oil output hits 2018 peak, but outages weigh: Reuters survey

July 31, 2018 by EnergyNow Media

uly 30, 2018, by Alex Lawler LONDON (Reuters) – OPEC oil output has risen this month to a 2018 high as Gulf members pumped more after a deal to ease supply curbs and Congo Republic joined the group, a Reuters survey found, although losses from Iran and Libya limited the increase. The Organization of the … Read more

Oil to hold steady into 2019 as OPEC, U.S. compensate for supply hitches

July 31, 2018 by EnergyNow Media

July 31, 2018, by Sumita Layek Oil prices are likely to hold fairly steady this year and next as increased output from OPEC and the U.S. meets growing demand led by Asia and helps to offset supply disruptions from Iran and elsewhere, a Reuters poll showed on Tuesday. A survey of 44 economists and analysts … Read more

Keystone XL’s New Path Gets Positive U.S. Environment Review

July 31, 2018July 31, 2018 by EnergyNow Media

July 30, 2018, by Rachel Adams-Heard and Kevin Orland (Bloomberg) TransCanada Corp.’s proposed Keystone XL oil pipeline won a relatively positive review from the U.S. State Department, which found that the conduit’s approved route would have no significant environmental impacts. The alternate route that Nebraska regulators approved for the line would have minor to moderate … Read more

Emergency Response Planning Made Easy With OPERA – DataSafe

July 31, 2018 by EnergyNow Media

When you turn to DataSafe Recovery Services, you can slash from hours to minutes the time it takes to create your Emergency Response Plan. OPERA is a tool that will increase your accuracy and decrease the time and manpower it takes to deliver it. Nobody in the industry has a program like OPERA. The … Read more

Register now for your COMPLIMENTARY Expo Pass to IPE 2018

July 31, 2018July 31, 2018 by EnergyNow Media

The International Pipeline Exposition is the premier pipeline event in the world. Together with the world-class International Pipeline Conference, hosted by Canadian Energy Pipeline Association (CEPA) and the American Society of Mechanical Engineers (ASME), the event attracts over 6,500 pipeline experts from around the globe. With over 240 exhibitors, IPE offers a unique showcase of latest industry technologies, products … Read more

Oil rises on tight supply outlook

July 30, 2018 by EnergyNow Media

July 30, 2018 Reuters NEW YORK (Reuters) – Oil prices rose on Monday, with U.S. crude futures jumping more than 2 percent, as traders continued to focus on supply disruptions and a possible hit to crude output from U.S. sanctions on Iran. October Brent crude futures, the most actively traded contract, settled at $75.55 a barrel, … Read more

Canadian dollar climbs to seven-week high on NAFTA optimism, oil rally

July 31, 2018July 30, 2018 by EnergyNow Media

July 30, 2018, by Fergal Smith TORONTO (Reuters) – The Canadian dollar strengthened to a nearly seven-week high against its U.S. counterpart on Monday, boosted by higher oil prices and optimism that progress could be made in talks to revamp the NAFTA trade pact. Negotiations to update the North American Free Trade Agreement had stalled … Read more

Vermilion Energy Inc. Announces Results for the Three and Six Months Ended June 30, 2018

July 30, 2018 by EnergyNow Media

July 30, 2018 CNW CALGARY, July 30, 2018 /CNW/ – Vermilion Energy Inc. (“Vermilion”, “We”, “Our”, “Us” or the “Company”) (TSX, NYSE: VET) is pleased to report operating and condensed financial results for the three and six months ended June 30, 2018. The unaudited financial statements and management discussion and analysis for the three and six months ended June 30, 2018, … Read more

Pulse Oil Corp. announces increased production

July 30, 2018 by EnergyNow Media

July 30, 2018 PR Newswire CALGARY, July 30, 2018 /PRNewswire/ – Pulse Oil Corp. (“Pulse” or the “Company”) (TSX-V: PUL and PUL.WT) announces the Pulse team has recently added approximately 100 barrels of oil per day by reactivating another previously shut-in well from Pulse’s 100% owned Bigoray area oil assets. In addition, Pulse has reactivated … Read more

Mexico’s Next President Promises Pemex Investment, Names New CEO

July 30, 2018 by EnergyNow Media

by Amy Stillman (Bloomberg) Mexico’s incoming president named a new chief executive officer for Pemex and promised government investment of 75 billion pesos ($4 billion) in the oil sector, in a bid to revive the state-owned oil company. Andres Manuel Lopez Obrador tapped longtime political ally Octavio Romero Oropeza, who has no oil background, as … Read more

Oil Recovers to $70 Amid Supply Risks After Fourth Weekly Loss

July 30, 2018July 30, 2018 by EnergyNow Media

July 30, 2018 by Grant Smith (Bloomberg) Oil rose above $70 a barrel in New York for the first time in more than a week as a weaker dollar boosted the appeal of commodities and concerns over global supply disruptions persisted. West Texas Intermediate futures added as much as 2.2 percent following a retreat of … Read more

Five Things to Know in World Business – July 30, 2018

July 30, 2018July 30, 2018 by EnergyNow Media

July 30, 2018, by Lorcan Roche Kelly (Bloomberg) Central-bank week Today has something of the calm before the storm about it as investors brace for monetary event risk. The Bank of Japan is expected to hold rates unchanged on Tuesday, but there is increasing speculation that it may change its policy on equity purchases as … Read more

Is oil set to move even higher?

July 30, 2018 by EnergyNow Media

July 30, 2018, by Eddie Taylor (Arabian Business) Despite soft trading last week, the upside technical analysis points to plenty of upsides before the end of 2018. The agreement by OPEC members in June to increase oil production by up to as much as one million barrels a day – depending on which energy minister you … Read more

Prairie Provident Announces Successful Princess Drilling Update

July 30, 2018 by EnergyNow Media

July 30, 2018 07:00 ET | Source: Prairie Provident Resources Inc. CALGARY, Alberta, July 30, 2018 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to provide an operational update on successful drilling and completion results from its core Princess area. Corporate average daily production based on field estimates for the week … Read more

Iron Bridge’s Continued Operational Underperformance Underscores Rationale for Shareholders to Tender Their Shares to Velvet Energy’s Offer

July 30, 2018 by EnergyNow Media

July 30, 2018 | Source: Velvet Energy Ltd. IBR Type Curve – Gold Creek Source: Iron Bridge Resources Inc. April 2018 corporate presentation, slide 6. Iron Bridge Resources Inc. Ironbridge Resources share price underperformance Iron Bridge continues to significantly underperform the TSX Capped Energy Index – even with the Velvet Offer propping up its stock. TSX Capped … Read more

The Risks of Hiring a Salesperson/Sales Manager – Sandler Training

July 20, 2022July 30, 2018 by EnergyNow Media

Written by Hamish Knox; President of Sandler in Calgary, Canada Creating accountable, sales focused organizations in Calgary “So I’m thinking of hiring a salesperson/sales manager.” “You want a salesperson and sales manager?” “Yes, but I’m only hiring one person.” “Thanks for clarifying. Help me understand what’s prompting this.” “Well, I want move … Read more

Differential Pressure Measurements with the nVision Reference Recorder – Cameron Instruments

July 30, 2018 by EnergyNow Media

A faster, easier method for intrinsically safe, differential measurements at high static pressure Imagine this common scenario: a pressure transmitter is mounted to a pipe in a hard-to-reach location. On the previous night, a technician noticed its readings were suspect. The transmitter monitors the differential pressure across an orifice plate and its operation is critical. … Read more

Trans Mountain pipeline work to resume in August: Kinder Morgan Canada boss

July 30, 2018July 30, 2018 by The Canadian Press

EDMONTON — The head of Kinder Morgan Canada says work is to resume next month to prepare a route for the Trans Mountain pipeline expansion.
Ian Anderson says the company will secure, survey and prepare the right-of-way in coming months, and First Nati…

Alberta man faces fraud charges over fracking product

July 30, 2018July 30, 2018 by The Canadian Press

RED DEER, Alta. — A central Alberta Sylvan Lake man faces fraud charges over an oilfield product that was supposed to have resulted in big profits.
RCMP say investors instead lost $2.6 million.
Red Deer’s financial crimes unit alleges Dale Skinner of …

Canada Weekly Rig Count Up 12 to 223 for Week Ending July 28, 2018

July 30, 2018July 30, 2018 by EnergyNow Media

Canada’s drilling rigs went up by 12 to the current count of 223 actively drilling rigs according to data collected by Baker Hughes for the week of July 28th. From one week ago, Alberta rig counts increased 6 to 150 and the Saskatchewan rig count increased by 6 to 52. Oil drilling went up 12 … Read more

Cequence Energy Announces Refinancing of its $60 Million Notes, Planned Rights Offering, Operational Update, Outlook and Executive Team Update

July 30, 2018July 28, 2018 by EnergyNow Media

July 27, 2018 CNW CALGARY, July 27, 2018 /CNW/ – Cequence Energy Ltd. (TSX: CQE) (“Cequence” or the “Company“), is very pleased to announce a series of transactions that will refinance the Company’s balance sheet, and thereby provide greater flexibility and liquidity to execute the ongoing business plan of the Company. Firstly, Cequence has entered into a refinancing … Read more

Crude Posts Weekly Drop as Trade Tensions Take Center Stage

July 27, 2018 by EnergyNow Media

July 27, 2018 by Jessica Summers (Bloomberg) Crude posted a fourth straight weekly drop amid concerns over how significantly U.S.-China trade tensions will affect demand. Futures closed 1.3 percent lower Friday amid low-volume trading. Concerns over global trade continue to weigh on investor sentiment, with U.S. Federal Reserve Chairman Jerome Powell saying earlier this month … Read more

U.S. drillers add oil rigs for first week in three

July 27, 2018 by EnergyNow Media

July 27, 2018 Reuters U.S. energy companies this week added oil rigs for the first time in the past three weeks as drillers follow though on plans to spend more on exploration and production in anticipation of higher crude prices in 2018 than recent years.That move higher came despite recent declines in U.S. crude prices , … Read more

Mexico president-elect: $16 billion to boost oil output

July 27, 2018 by The Canadian Press

MEXICO CITY — Mexico’s president-elect announced a $16 billion investment plan Friday to boost flagging oil production, refinery capacity and electrical generation.
Andres Manuel Lopez Obrador said Friday the country must act “urgently” to reverse a d…

Offshore oil worker who tested positive for drug use ordered reinstated: court

July 27, 2018July 27, 2018 by The Canadian Press

ST. JOHN’S, N.L. — Newfoundland and Labrador’s highest court has upheld a decision to reinstate an offshore oil worker who was fired after he tested positive for taking an unauthorized form of tranquilizer.
Drug tests were ordered in January 2015 for …

BP scoops up BHP Billiton shale oil assets in US

July 27, 2018July 27, 2018 by The Canadian Press

LONDON — Energy producer BP has bought BHP Billiton’s shale oil and gas assets in the U.S. for $10.5 billion in a deal that will give it access to the fast-growing shale industry.
CEO Bob Dudley described the deal as a “transformational acquisition.”
…

Exxon profit surges, just not enough

July 27, 2018July 27, 2018 by The Canadian Press

IRVING, Texas — Rising oil prices pushed second-quarter profit at Exxon Mobil Corp. up by 18 per cent, but the results Friday fell short of Wall Street expectations, and shares dropped in early trading.
Exxon earned $3.95 billion in the second quarter…

Laricina Energy Ltd. Announces Acquisition by Canadian Natural Resources Limited

July 27, 2018 by EnergyNow Media

July 26, 2018 CNW CALGARY, July 26, 2018 /CNW/ – Laricina Energy Ltd. (“Laricina” or the “Company“) is pleased to announce that it has entered into a pre-acquisition agreement (“Agreement“) with Canadian Natural Resources Limited (“Canadian Natural“) pursuant to which Canadian Natural has agreed to make an offer to shareholders of Laricina to purchase all of the issued … Read more

Oilsands companies upbeat about future as Q2 results reveal gains and setbacks

July 27, 2018July 27, 2018 by EnergyNow Media

July 26, 2018 The Canadian Press CALGARY – Higher oil prices and signs that pipelines will be built to take growing production to market are fuelling optimism among oilsands producers as they roll out second-quarter results. The brighter picture is reflected in news that Husky Energy Inc. is increasing its dividend for the second time since … Read more

Imperial earns $196 million in the second quarter of 2018

July 27, 2018 by EnergyNow Media

July 27, 2018 Business Wire CALGARY, Alberta–(BUSINESS WIRE)–Imperial Oil Limited (TSX: IMO): Nearly $900 million of cash generated from operations; more than $1 billion returned to shareholders Renewed share purchase program; returned $1.6 billion to shareholders under prior 12-month program Major upstream and downstream planned maintenance completed; positioned for strong second half Second quarter Six months … Read more

U.S. Growth Hits 4.1%, Fastest Since 2014, in Win for Trump

July 27, 2018 by EnergyNow Media

July 27, 2018 by Shobhana Chandra (Bloomberg) The U.S. economy accelerated to a 4.1 percent pace of growth in the second quarter, the fastest since 2014, letting President Donald Trump claim a win for his policies even though growth is projected to cool. The annualized rate of gains in gross domestic product was just shy … Read more

Oil Heads for a Fourth Weekly Drop as Trade War Fears Linge

July 27, 2018July 27, 2018 by EnergyNow Media

July 27, 2018 by Tsuyoshi Inajima and Kintan Andanari (Bloomberg) Oil is poised for a fourth weekly decline as the unexpected halt in Saudi shipments via a Red Sea waterway was seen as short-lived, while concerns lingered over how the U.S.-China trade spat will affect demand. Futures are headed for a 1.2 percent decline this … Read more

Pipeline Prospects in Canada Snarl Rail Talks, Cenovus CEO Says

July 27, 2018July 27, 2018 by EnergyNow Media

July 27, 2018 by Kevin Orland (Bloomberg) Canada’s improved pipeline picture may be a boon to the nation’s oil patch in a few years, but that expected good fortune is hurting efforts to move more crude in the near term. That’s because the increased prospects of three major pipelines for Canadian oil starting service in … Read more

Global economy has peaked; trade war torpedoes optimism: Reuters polls

July 27, 2018 by EnergyNow Media

by Shrutee Sarkar BENGALURU (Reuters) – Global economic activity remains solid but has already passed its peak, according to economists in Reuters polls who expect protectionist policies on trade, which show no signs of abating, to tap the brakes significantly. While trade conflict between the United States and other major trading partners, in particular China, … Read more

Five Things to Know in World Business – July 27, 2018

July 27, 2018July 27, 2018 by EnergyNow Media

July 27, 2018, by Lorcan Roche Kelly (Bloomberg) High growth President Donald Trump, speaking at a steel mill in Granite City, Illinois, yesterday predicted that this morning’s GDP data due at 8:30 a.m. Eastern Time will show the country’s economy is in “terrific shape.” This time, economists are in agreement with the president as a … Read more

Largest U.S. Wind Farm Dealt Potentially Fatal Blow in Texas

July 27, 2018 by EnergyNow Media

July 26, 2018, by Jim Efstathiou Jr. and Christopher Martin (Bloomberg) Texas dealt a potential death blow to what would be the largest-ever U.S. wind farm: American Electric Power Co.’s $4.5 billion Wind Catcher project. The Texas Public Utility Commission on Thursday unanimously rejected the project as proposed, saying it doesn’t offer enough benefits for … Read more

Imperial Oil CEO says proposed Syncrude partner deals must “make sense” for all

July 27, 2018July 27, 2018 by The Canadian Press

CALGARY — Negotiations on commercial deals to improve reliability at the problem-plagued Syncrude oilsands mine and upgrader need to “make sense for all parties,” the CEO of its second-largest owner said on a conference call Friday.
Rich Kruger of Imp…

Over $42,000 Raised by the Petroleum Services Association of Canada to Support Education & Energy Literacy

July 27, 2018July 26, 2018 by EnergyNow Media

Calgary, Alberta (July 26, 2018) – The Petroleum Services Association of Canada (PSAC) today announced its annual golf tournament, newly branded as the “PSAC Working Energy Golf Classic” powering Canadian energy and education, raising funds for awareness and education, raised over $42,000 thanks to the generosity of energy industry companies, employees, their guests, as well … Read more

City of Burnaby going to court to help remove pipeline protest camp

July 27, 2018July 26, 2018 by The Canadian Press

BURNABY, B.C. — The City of Burnaby is going to B.C. Supreme Court asking for help in enforcing an eviction order on a pipeline protest camp that has grown to include two-storey structures, a shower and a sacred fire.
A statement from the city issued …

Join us for 2nd CHOA Vendor ShareCase Event – CHOA: Canadian Heavy Oil Association

July 26, 2018 by EnergyNow Media

Join us for 2nd CHOA Vendor ShareCase Event September 20-2018 Calgary Petroleum Club You will hear from 6 Vendors that will showcase one of their new products or service innovation. You will then have the opportunity to network individually with whichever companies you wish following the presentations. It is a unique opportunity to discover leading … Read more

Suncor CEO says partners holding up Syncrude reliability improvements

July 26, 2018July 26, 2018 by The Canadian Press

CALGARY — Suncor Energy Inc. CEO Steve Williams says its partners in the Syncrude consortium are resisting taking action that could help solve ongoing performance issues at the four-decades-old northern Alberta oilsands mine and upgrader.
The partners…

New oilsands exploration tech leaves forest intact, to the relief of the caribou

July 26, 2018July 26, 2018 by The Canadian Press

CALGARY — One of the most destructive ecological impacts of oil and gas exploration happens long before a litre of oil flows into a pipeline or a single atom of carbon enters the atmosphere.
Seismic surveying — the exploration activity that helps iden…

N.L. Announces Agreement to Develop Huge Deepwater Bay du Nord Oil Project

July 26, 2018 by EnergyNow Media

July 26, 2018 The Canadian Press ST. JOHN’S, N.L. – Newfoundland and Labrador is one step closer to developing its deepest offshore oil site at Bay du Nord, announcing an agreement with Equinor Canada for a project estimated to deliver its first oil by 2025. Premier Dwight Ball called the project a “new frontier” in … Read more

Husky Energy boosts dividend for second time following strong Q2 results

July 26, 2018July 26, 2018 by The Canadian Press

CALGARY — Husky Energy Inc. has announced a second dividend increase for 2018, following a two-year period when the company suspended the quarterly payout to shareholders due to weak market conditions.
The Calgary-based company’s quarterly dividend wi…

Oil Rises as Saudi Attack Underscores Geopolitical Risk Premium

July 26, 2018 by EnergyNow Media

July 26, 2018 by Sharon Cho and Alex Longley (Bloomberg) Oil advanced in London after an attack on Saudi Arabian tankers heightened concern over disruption to supplies. Brent futures rose as much as 1.2 percent after adding 0.7 percent Wednesday. Two vessels were attacked by Yemeni Houthi militia, leading Saudi Arabia to suspend oil shipments … Read more

Suncor Trims Top End of Production Forecast on Syncrude Shutdown

July 26, 2018 by EnergyNow Media

July 25, 2018 by Kevin Orland (Bloomberg) Suncor Energy Inc., Canada’s largest oil producer by market value, dropped the top end of its production target for the year as it works to bring its key Syncrude facility back online after a power outage brought the plant down last month. Output this year will be 740,000 … Read more

Husky Energy Raises Dividend; Reports Second Quarter 2018 Results

July 26, 2018 by EnergyNow Media

July 26, 2018| Source: Husky Energy Inc. CALGARY, Alberta, July 26, 2018 (GLOBE NEWSWIRE) — Husky Energy’s (TSX:HSE) Board of Directors has approved increasing the quarterly cash dividend to $0.125 per common share. The dividend increase recognizes the Company’s low net debt and continued ability to generate strong free cash flow. “This dividend level is affordable, and … Read more

Suncor Energy reports second quarter 2018 results

July 26, 2018 by EnergyNow Media

Suncor Energy reports second quarter 2018 results July 25, 2018 Marketwired Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards, specifically International Accounting Standard 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on … Read more

Cenovus delivers strong second quarter

July 26, 2018 by EnergyNow Media

Record operating results; solid financial performance July 26, 2018 06:00 ET | Source: Cenovus Energy Inc. Wolf Lake natural gas plant Cenovus’s Wolf Lake Natural Gas Plant in the Deep Basin in west central Alberta. Cenovus Energy Inc. Cenovus SAGD project View of a Cenovus steam-assisted gravity drainage oil sands project in northern Alberta. Cenovus Energy Inc. CALGARY, … Read more

Crescent Point Announces Q2 2018 Results

July 26, 2018 by EnergyNow Media

July 26, 2018 06:30 ET | Source: Crescent Point Energy Corp. CALGARY, Alberta, July 26, 2018 (GLOBE NEWSWIRE) — Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX:CPG) (NYSE:CPG) is pleased to announce its operating and financial results for the quarter ended June 30, 2018. KEY HIGHLIGHTS Reduced net debt in the quarter by over $390 million, … Read more

Bellatrix Announces Debt Refinancing Transaction and NYSE Listing Notification

July 26, 2018 by EnergyNow Media

July 26, 2018 ET | Source: Bellatrix Exploration Ltd. Debt Refinancing Transaction Highlights Exchange US$80 million of existing 2020 Notes for US$72 million of Second Lien Notes due 2023, extending the maturity of over 1/3 of the outstanding 2020 Notes by 3 years, reducing outstanding debt by US$8 million, and maintaining the cash interest rate at 8.5% New … Read more

Five Things to Know in World Business – July 26, 2018

July 26, 2018 by EnergyNow Media

July 26, 2018, by Lorcan Roche Kelly (Bloomberg) Great deal President Donald Trump backed off on threats to impose tariffs on cars imported to the U.S. while European Commission President Jean-Claude Juncker said the European Union would import more U.S. soybeans, after trade talks in Washington yesterday. Carmakers in Europe are surging this morning, with Germany’s … Read more

Trump Says Europe to Buy Boatloads of U.S. LNG. Don’t Bet on it!

July 26, 2018July 26, 2018 by EnergyNow Media

LNG rollup_832x500 shutterstock_464835863

July 26, 2018, by Anna Shiryaevskaya, Elena Mazneva and Mathew Carr (Bloomberg) President Donald Trump’s vision of Europe becoming a “massive buyer” of U.S. liquefied natural gas is likely to crash into the reality that Russia is a cheaper supplier for now. Europe is consuming record volumes of the fuel delivered by pipelines from its … Read more

Canadian firm wins $90m deal to power Dubai’s Meydan One

July 26, 2018 by EnergyNow Media

July 26, 2018, by Sam Bridge (Arabian Business) SNC-Lavalin is awarded a contract to provide engineering and procurement services for substations to power the Meydan One development in Dubai, SNC-Lavalin has been awarded a contract to provide engineering and procurement services for substations to power the Meydan One development in Dubai, valued at about $90 … Read more

Cenovus Energy posts $418-million Q2 loss linked to expired hedging contracts

July 26, 2018July 26, 2018 by The Canadian Press

CALGARY — Cenovus Energy Inc. had a $418-million second-quarter loss that was deeper than analysts expected, largely the result of a hedging program that was designed to protect the company from a decline in oil prices.
The Calgary-based company’s los…

Precision Drilling Q2 loss rises 30.7% on higher compensation expense

July 26, 2018July 26, 2018 by The Canadian Press

CALGARY — Precision Drilling Corp. had a $47.2-million net loss in the second quarter, 30.7 per cent bigger than the same time last year, as stock-linked compensation expenses increased.
The loss amounted to 16 cents per share compared with a net loss…

Suncor cuts oilsands production guidance to reflect Syncrude outage

July 25, 2018 by The Canadian Press

CALGARY — Suncor Energy Inc. is chopping its 2018 production guidance to account for a lengthy outage at the Syncrude oilsands mine and upgrader, as it reports second-quarter earnings that fell short of analyst expectations.
The Calgary-based oilsands…

U.S. crude inventories slump 6 million barrels to Feb 2015 low: EIA

July 25, 2018 by EnergyNow Media

July 25, 2018 Reuters (Reuters) – U.S. crude oil inventories last week tumbled more than expected to their lowest level since 2015 as exports jumped and stocks at the Cushing hub dropped, the Energy Information Administration said on Wednesday. Crude inventories fell 6.1 million barrels in the week to July 20, compared with analysts’ expectations for … Read more

AltaGas Announces Resignation of David Harris, President and CEO: Company to be Led by Co-CEO’s David Cornhill Chairman and Founder, and Phillip Knoll Experienced Industry Veteran and Board Member, on an Interim Basis

July 25, 2018 by EnergyNow Media

July 25, 2018 CNW Key strategic priorities, financing plan for WGL and business operations remain unchanged and on track CALGARY, July 25, 2018 /CNW/ – AltaGas Ltd. (AltaGas) (TSX: ALA) announced today David Harris has resigned from his position as President and Chief Executive Officer effective immediately. Mr. Harris has also resigned from his position on the AltaGas Board. The Board … Read more

Russia raises oil output forecast for 2018, 2019

July 25, 2018 by EnergyNow Media

MOSCOW (Reuters) – Russia’s oil production this year will increase to 551 million tonnes (11.02 million barrels per day), a new 30-year high and up by around 3.5 million tonnes from previous expectations, Energy Minister Alexander Novak said on Wednesday. He said Russia would further raise production to 555 million tonnes in 2019 after the … Read more

Producers urge U.S. regulators to approve Cheniere Oklahoma pipeline

July 25, 2018 by EnergyNow Media

(Reuters) – At least two exploration and production companies this week urged U.S. federal energy regulators to expedite approval of Cheniere Energy Inc’s proposed $1.025 billion Midship natural gas pipeline in Oklahoma. Gulfport Energy Corp and Marathon Oil Corp both told the U.S. Federal Energy Regulatory Commission (FERC) that Midship is needed because current gas … Read more

Point Loma Resources Provides Operational Update

July 25, 2018 by EnergyNow Media

July 25, 2018 Filing Services Canada Calgary, Alberta (FSCwire) – Point Loma Resources Ltd. (TSX VENTURE: PLX) (the “Corporation” or “Point Loma”) is pleased to provide an update on its recent and upcoming activities; Highlights: Production has grown to over 1000 boepd with an increase of approximately 90% of oil and ngl volumes from Q1 … Read more

Cation Capital Sends Letter to Crescent Point Shareholders

July 25, 2018 by EnergyNow Media

July 25, 2018 Business Wire Expresses Concern with Lack of Progress and Issues Related to Governance and Leadership Remains Committed to Unlocking Shareholder Value CALGARY, Alberta–(BUSINESS WIRE)–#CPG–Cation Capital Inc. (together with its affiliates and associates, “Cation Capital” or “Cation”), a private investment firm and shareholder of Crescent Point Energy Corp (TSX/NYSE: CPG) (“Crescent Point”), today sent … Read more

Precision Drilling Corporation Announces Officer Appointments

July 25, 2018 by EnergyNow Media

July 25, 2018 | Source: Precision Drilling Corporation CALGARY, Alberta, July 25, 2018 (GLOBE NEWSWIRE) — Precision Drilling Corporation (“Precision”) is pleased to announce the appointment of Shuja Goraya as Chief Technology Officer and the appointment of Darren Ruhr as Chief Administrative Officer. Mr. Shuja Goraya as Chief Technology Officer will lead our strategic drilling technology initiatives … Read more

Five Things to Know in World Business – July 25, 2018

July 25, 2018 by EnergyNow Media

July 25, 2018, by Lorcan Roche Kelly (Bloomberg) Tariffs are great, let’s end them President Donald Trump said the U.S. and the European Union should drop all tariffs, barriers and subsidies ahead of his meeting today with European Commission President Jean-Claude Juncker. He made the suggestion in a tweet, which ended with “but they won’t!,” suggesting … Read more

Russian Oil Getting Ready for Biggest Tax Overhaul in 20 Years

July 25, 2018 by EnergyNow Media

July 24, 2018, by Dina Khrennikova (Bloomberg) Russia, one of the world’s top three crude producers, is preparing the most radical shakeup of its oil-tax system since 1999. The changes, which will allow the nation’s producers to export crude and oil products duty-free while raising their costs at the wellhead, is set to get the … Read more

U.S. to stop taking payments from drillers, miners for damage to public land

July 25, 2018July 25, 2018 by EnergyNow Media

July 24, 2018 (Reuters) – The Trump administration on Tuesday said it would no longer require oil drillers, miners and other industries to compensate for damage they cause to public lands under their permitted projects, in a bid to speed up development on federal lands. The move, the latest effort by the administration to help … Read more

Oil Gains With U.S. Inventory Data Set to Show Sliding Supplies

July 25, 2018 by EnergyNow Media

July 25, 2018 by Kintan Andanari and Alex Longley (Bloomberg) Oil extended gains as U.S. industry data showed a decline in crude and fuel stockpiles ahead of government figures due later Wednesday. Futures rose as much as 0.6 percent in New York after adding 0.9 percent on Tuesday. U.S. inventories of crude, gasoline and distillates … Read more

Energy-Storage Company Stem Gets Funding for Projects in Canada

July 25, 2018 by EnergyNow Media

July 24, 2018 by Brian Eckhouse (Bloomberg) Stem Inc., a U.S. provider of energy-storage systems, arranged C$200 million ($152 million) in commitments from the Ontario Teachers’ Pension Plan to finance projects in the province. The pension plan also contributed to Stem’s $80 million Series D financing announced in January. Stem said in a statement Tuesday … Read more

Daniel Farb Steps Down From MEG Energy Board Citing Direction of Firm

July 25, 2018July 25, 2018 by EnergyNow Media

July 24, 2018 by Scott Deveau (Bloomberg) Daniel Farb has resigned from the board of MEG Energy Corp., saying he is concerned about the direction of the company. Farb is a managing director at Highfields Capital Management, the Boston-based investment firm that owns a 9.9 percent stake in the oil and gas company. He was … Read more

Trudeau Legislation Helps Foreign Businesses, Hurts Canada’s Energy Industry – CTF: Colin Craig

July 25, 2018July 25, 2018 by EnergyNow Media

July 24, 2018 The Trudeau government has once again introduced legislation that will hurt Canadian companies while helping their foreign competitors. Prime Minister Trudeau’s latest move is not only hurtful to everyone who works in the oil and gas industry, it’s harmful to all the tax-paying companies and workers across Canada that supply parts, supplies … Read more

Spotlight falls on Cenovus debt reduction, rail contract talks

July 25, 2018July 25, 2018 by EnergyNow Media

July 24, 2018 Reuters Comments July 24 (Reuters) – Canadian oil sands company Cenovus Energy investors will scrutinize quarterly earnings this week for details on Chief Executive Alex Pourbaix’s debt-cutting efforts and crude-for-rail contract negotiations to help resolve pipeline jams. After last year’s unpopular acquisition of ConocoPhillips’ assets, Pourbaix, who inherited a company last October with C$9.51 … Read more

Your Next CoWorker Could Be a Bot – Geoffrey Cann

July 25, 2018July 25, 2018 by EnergyNow Media

By Geoffrey Cann Are you wondering what a bot is and whether the bots are gunning for your job? Read on. THE OFFICE BOT A category of digital technology called robotic process automation (or RPA) is finally making its debut in oil and gas. It’s not like this is a new invention—these kinds of tools evolved in the late 1990’s. But of course, … Read more

Trump Congratulates Mexico’s President-Elect, With Nafta Warning

July 24, 2018 by EnergyNow Media

July 24, 2018 by Jose Orozco and John Harney (Bloomberg) Even as President Donald Trump congratulated Mexico’s president-elect in a letter, he warned that a successful renegotiation of the North American Free Trade Agreement must be done quickly. If progress is not made, Trump said, “I must go a much different route. It would not … Read more

Vesta Energy Corp. Announces Closing of C$200 Million of Senior Unsecured Notes

July 24, 2018 by EnergyNow Media

July 24, 2018 CNW CALGARY, July 24, 2018 /CNW/ – Vesta Energy Corp. (“Vesta” or the “Company”) is pleased to announce today that it has completed a C$200 million offering of senior unsecured notes due 2023 with a coupon of 8.125% (the “Notes”). Vesta intends to use the net proceeds from the sale of the Notes to fund its light … Read more

Register Now! “Introduction to Canadian Crude Oil Marketing” presented by Phoenix Energy Marketing Consultants.

July 24, 2018 by EnergyNow Media

Phoenix Energy Marketing Consultants Feature

Phoenix Energy Marketing is holding a 2-day introductory level course on Canadian Crude Oil Marketing as a part of their fall roster of training courses. This course is instructed by a number of expert speakers with decades of experience in Canadian Crude Oil Marketing. Some of the Main topics covered in this course include: Basic … Read more

COPP’s Services Inc. (COPPS) Merged it’s Canadian Assets and Operations with Force Pile & Foundations Division – Site Resources Group

July 25, 2018July 24, 2018 by EnergyNow Media

On May 31, 2018, COPP’s Services Inc. (COPPS) merged its Canadian assets and operations with the Force Pile & Foundations division. We are very excited to have the Copps team join us. They bring strong technical experience and the same values and commitment to safety, quality and customer service and outstanding customer relationships that we … Read more

Oil market hits a cyclical pause: Kemp

July 24, 2018July 24, 2018 by EnergyNow Media

July 24, 2018 Reuters LONDON, July 24 (Reuters) – Brent crude futures prices are trading in contango for the first time in 10 months, as traders anticipate an increase in crude availability during the remainder of 2018. The Brent calendar spread for the first six months slumped into a contango of 43 cents per barrel on … Read more

Gear Energy Ltd. Announces Acquisition of Steppe Resources Inc.

July 24, 2018 by EnergyNow Media

July 23, 2018 CNW CALGARY, July 23, 2018 /CNW/ – Gear Energy Ltd. (“Gear“) (TSX: GXE) is pleased to announce that it has entered into a definitive agreement (the “Arrangement Agreement“) providing for the acquisition by Gear of all of the issued and outstanding common shares (the “Steppe Shares“) of Steppe Resources Inc. (“Steppe“), a private oil and … Read more

Vital Announces Appointment of New Director, President & CEO

July 24, 2018 by EnergyNow Media

July 24, 2018 Globe Newswire CALGARY, Alberta, July 23, 2018 (GLOBE NEWSWIRE) — Vital Energy Inc. (“Vital” the “Corporation”) is pleased to announce that Mr. Yingchuan Wu has been appointed as President and Chief Executive Officer of Vital. In addition, Mr. Wu has also been appointed as a director of the Corporation. Mr. Nick Zhang, the former Chief … Read more

Toscana Energy Announces Acquisition of Cortona Energy Ltd.

July 24, 2018 by EnergyNow Media

July 24, 2018 Globe Newswire CALGARY, Alberta, July 23, 2018 (GLOBE NEWSWIRE) — Toscana Energy Income Corporation (“Toscana” or the “Company”) (TSX:TEI) is pleased to announce that further to its news release dated June 14, 2018, the Company has entered into a share purchase agreement (the “Agreement”) to acquire 100% of Cortona Energy Ltd. (“Cortona”) for aggregate consideration of approximately … Read more

Breakingviews – Trump hardball may still become Iran oil softball

July 24, 2018 by EnergyNow Media

June 23, 2018, by George Hay LONDON (Reuters Breakingviews) – For oil market watchers, Donald Trump’s bark may be worse than his bite. The U.S. president on Monday responded to robust words from Iranian counterpart Hassan Rouhani by threatening “consequences the likes of which few throughout history have ever suffered before”. Those threats, however, may … Read more

Five Things to Know in World Business – July 24, 2018

July 24, 2018July 24, 2018 by EnergyNow Media

July 24, 2018, by Lorcan Roche Kelly (Bloomberg) Answering (some) questions President Donald Trump would agree to an interview with Special Counsel Robert Mueller’s investigators as long as the questions are limited solely to whether his campaign colluded with Russia in the run-up to the 2016 election, lawyer Rudy Giuliani said. The possible compromise comes even … Read more

Big Oil Is Raking in Cash So Investors are Asking: Now What?

July 24, 2018 by EnergyNow Media

July 24, 2018 by Kelly Gilblom and Kevin Crowley (Bloomberg) The dark storm clouds that have been hanging over the oil industry during the crude-price slump have suddenly started raining cash. After cutting billions of dollars of costs to survive the biggest downturn in decades, Big Oil is now riding a price rebound to generate … Read more

Oil Rises From One-Month Low Before U.S. Crude Inventory Data

July 24, 2018July 24, 2018 by EnergyNow Media

July 24, 2018 by Grant Smith (Bloomberg) Oil rose from a one-month low in New York ahead of data released on U.S. crude inventories, while traders weighed erratic global crude supplies and the threat to demand from trade tensions. Prices in New York were up 0.5 percent, after front-month futures closed at the lowest level … Read more

BP Canada gets green light to restart drilling off Nova Scotia coast after spill

July 24, 2018July 24, 2018 by The Canadian Press

HALIFAX — BP Canada has been given the green light to restart drilling operations off the coast of Nova Scotia, a month after the energy giant spilled thousands of litres of drilling mud into the Atlantic Ocean.
The Canada-Nova Scotia Offshore Petrole…

Halliburton Tumbles as Frack Giant Sees Second-Half Slowdown

July 23, 2018 by EnergyNow Media

July 23, 2018 (Bloomberg) Fracking-services king Halliburton Co. plunged the most in almost three years after warning that second-half profits will suffer on a slowdown in the Permian Basin and other parts of the U.S. The Houston-based oilfield servicer dropped as much as 8.2 percent in New York trading for its biggest decline since November … Read more

PrairieSky Announces Second Quarter 2018 Results

July 23, 2018 by EnergyNow Media

July 23, 2018 Globe Newswire CALGARY, Alberta, July 23, 2018 (GLOBE NEWSWIRE) — PrairieSky Royalty Ltd. (“PrairieSky” or the “Company“) (TSX:PSK) is pleased to announce its second quarter operating and financial results for the period ended June 30, 2018. Second Quarter 2018 Highlights: • Total revenues of $76.2 million comprised of royalty production revenues of $70.1 … Read more

PrairieSky results buoyed by strong oil prices despite poor natural gas prices

July 24, 2018July 23, 2018 by The Canadian Press

CALGARY — PrairieSky Royalty Ltd. says strong crude oil prices and volumes in the second quarter allowed it to beat analyst profit expectations despite falling prices and lower production of natural gas.
The results offer an early indication of what e…

India cuts oil imports from Iran by a quarter in past year

July 23, 2018 by The Canadian Press

NEW DELHI — Facing the threat of U.S. oil sanctions on Iran, India continued to rely on Iraq as its top oil supplier in the April-June quarter, followed by Iran and Saudi Arabia, the oil minister said Monday.
Petroleum Minister Dharmendra Pradhan said…

Oil higher on Middle East, North Sea supply worries

July 23, 2018 by EnergyNow Media

July 23, 2018 Reuters LONDON (Reuters) – Oil prices rose on Monday on worries over supply after tensions worsened between Iran and the United States, while some offshore workers began a 24-hour strike on three oil and gas platforms in the British North Sea. U.S. light crude was up 90 cents at $69.16 a barrel. Iranian … Read more

Utica Resources Announces Revised Offer to Acquire Junex Inc.

July 23, 2018 by EnergyNow Media

July 23, 2018 CNW MONTREAL, July 23, 2018 /CNW/ – Utica Resources Inc. (“Utica“) today announced that it has delivered to the Special Committee of the Board of Directors of Junex Inc. (“Junex“) a revised offer (the “Offer“) to acquire all of the outstanding common shares of Junex (the “Junex Shares“). Pursuant to the Offer, each shareholder of … Read more

Trump tells Iran ‘never, ever threaten’ U.S. or suffer consequences

July 23, 2018 by EnergyNow Media

July 22, 2018, by Warren Strobel and Parisa Hafezi WASHINGTON/ANKARA (Reuters) – U.S. President Donald Trump told Iran it risked consequences “the like of which few throughout history have suffered before” if the Islamic Republic made more threats against the United States. His words, spelled out in capital letters in a late night Twitter message, came … Read more

Five Things to Know in World Business – July 23, 2018

July 23, 2018July 23, 2018 by EnergyNow Media

July 23, 2018, by Lorcan Roche Kelly (Bloomberg) Block capitals Relations between Washington and Tehran took another turn for the worst after Iranian leader Hassan Rouhani warned the U.S. against threatening the country’s exports — drawing a sharp rebuke from President Donald Trump on Twitter. While market reaction to the increasing tensions has been relatively muted so … Read more

Iran’s Rouhani warns Trump about ‘mother of all wars’

July 23, 2018 by EnergyNow Media

July 22, 2018 DUBAI (Reuters) – Iranian President Hassan Rouhani on Sunday cautioned U.S. President Donald Trump about pursuing hostile policies against Tehran, saying “war with Iran is the mother of all wars”, but did not rule out peace between the two countries. Iran faces increased U.S. pressure and looming sanctions after Trump’s decision to … Read more

First Nation Leaders to Discuss Shift Towards the Next Generation of Oil Sands Production – Oil Sands Trade Show and Conference 2018

July 23, 2018July 23, 2018 by EnergyNow Media

By Paula Arnold What will does the next generation of oil sands look like? Jim Boucher, Chief of Fort McKay First Nation and Chairman of Fort McKay Group of Companies, and Archie Waquan, Chief of Mikisew Cree First Nation will discuss this important topic as part of the Oil Sands Trade Show & Conference … Read more

5 Tips for Vanishing Magicians from Your Sales Funnel – Sandler Training

July 23, 2018July 23, 2018 by EnergyNow Media

Written by Hamish Knox; President of Sandler in Calgary, Canada Creating accountable, sales focused organizations in Calgary Even if your sales funnel isn’t filled with sand or water, occasionally your sales team will have a magician sneak into their pipeline. Like traditional magicians, the magicians in your sales funnel have disappeared often after … Read more

Feature Story: Thriving Tech Culture Supports Digital Shift in Calgary – Aimsio

July 24, 2018July 23, 2018 by EnergyNow Media

After a couple tough years in Calgary, the term diversification has become pretty common in conversations about the economy. The recent downturn reminded some and introduced others to how entangled the city’s vitality is with the price of oil. This recession seemed to have a particularly nasty sting to it, possibly because of how the … Read more

Ottawa fails to secure new buyer for Trans Mountain pipeline by deadline

July 23, 2018July 23, 2018 by EnergyNow Media

OTTAWA — The federal government is set to become the official owner of the Trans Mountain pipeline expansion after failing to quickly flip the project to another private-sector buyer. Pipeline owner Kinder Morgan had been working with the government to identify another buyer before July 22. But with that date set to pass without a … Read more

Commentary: Imagine a World Without OPEC. It Isn’t Paradise: Julian Lee

July 22, 2018 by EnergyNow Media

July 22, 2018 by Julian Lee (Bloomberg Opinion) Imagine a world without OPEC. This is what the sponsors of legislation introduced in both houses of Congress seem to want. Versions of the “No Oil Producing and Exporting Cartels Act,” or the NOPEC bill, are working their way through the Senate and the House of Representatives, and … Read more

U.S. drillers cut rigs by most since March last week

July 22, 2018July 22, 2018 by EnergyNow Media

July 22, 2018 Reuters July 20 (Reuters) – U.S. energy companies this week cut oil rigs by the most since March as the rate of growth has slowed over the past month or so with recent declines in crude prices. U.S. crude prices are on track to fall for a third week in a row this … Read more

Canada Weekly Rig Count Up 14 to 211 for Week Ending July 20, 2018

July 22, 2018July 22, 2018 by EnergyNow Media

Canada’s drilling rigs went up by 14 to the current count of 211 actively drilling rigs according to data collected by Baker Hughes for the week of July 20th. From one week ago, Alberta rig counts increased 14 to 144 and the Saskatchewan rig count decreased by 1 to 46. Oil drilling went up 3 … Read more

Pipeline protesters defy eviction order, say they’ll meet with officials

July 23, 2018July 22, 2018 by The Canadian Press

BURNABY, B.C. — Protesters at an anti-pipeline camp in Burnaby, B.C., say they will meet with officials to discuss safety measures, but they will not comply with a city-issued evacuation order.
The City of Burnaby says there are safety concerns surrou…

Nova Chemicals appeals ruling that it pay Dow US$1.06-billion in damages

July 23, 2018July 20, 2018 by The Canadian Press

CALGARY — Nova Chemicals has appealed an Alberta judge’s order that it pay US$1.06 billion in damages to Dow Chemical Canada in a dispute over a massive ethylene plant in the province.
The dispute centres on a production facility in Joffre, Alta. know…

Oil Posts Third Weekly Drop as Trump Issues New Trade Threats

July 20, 2018 by EnergyNow Media

July 20, 2018 by Robert Tuttle (Bloomberg) Oil posted a third weekly loss, as Saudi Arabia’s reassurances that it won’t flood the global crude market failed to offset a 4.2 percent price drop at the start of the week. Futures pared gains in New York on Friday amid concern that escalating trade rows would undermine … Read more

Enbridge and City of Toronto to build one of the first renewable natural gas facilities in Ontario

July 20, 2018 by EnergyNow Media

July 20, 2018 CNW TORONTO, July 20, 2018 /CNW/ – Enbridge Executive Vice President Cynthia Hansen congratulates Mayor John Tory on the joint project to construct the City’s first renewable natural gas facility, located at the Dufferin Organics Processing Facility. Together, Enbridge Gas Distribution and the City of Toronto will build and install equipment that will turn the City’s organic waste (apple cores, … Read more

Oilfield service giants miss earnings forecasts despite soaring U.S. production

July 20, 2018 by EnergyNow Media

July 20, 2018 Reuters (Reuters) – Oilfield service giants Schlumberger and General Electric Co’s Baker Hughes missed second quarter revenue forecasts on Friday as slow international growth offset record production in the United States that boosted domestic demand for their services. The Houston-based companies were the first among their peers to report earnings, putting them under … Read more

Baytex and Raging River File Joint Management Information Circular Seeking Shareholder Approval of Strategic Combination

July 20, 2018 by EnergyNow Media

July 20, 2018 Globe Newswire CALGARY, Alberta, July 20, 2018 (GLOBE NEWSWIRE) — Baytex Energy Corp. (TSX:BTE) (NYSE:BTE) (“Baytex“) and Raging River Exploration Inc. (TSX:RRX) (“Raging River“) are pleased to announce that they have filed a joint management information circular and proxy statement (the “Circular“) for their respective special shareholders’ meetings to be held in connection … Read more

Protesters digging in at anti-pipeline camp as eviction notice expires

July 20, 2018 by EnergyNow Media

July 20, 2018 The Canadian Press BURNABY, B.C. – Protesters at an anti-pipeline camp in Burnaby, B.C., say they are ready to defy an eviction notice handed out from the city. The City of Burnaby issued a 72-hour notice to those occupying “Camp Cloud” on Wednesday, but protesters say in a news release that isn’t enough … Read more

Eagle Energy Inc. Announces Sale of Twining Assets

July 20, 2018 by EnergyNow Media

July 20, 2018 CNW CALGARY, July 20, 2018 /CNW/ – (TSX: EGL): Further to Eagle Energy Inc.’s (“Eagle“) previously announced strategy of reducing debt and interest charges, Eagle is pleased to announce it has signed an agreement to sell its entire interest in its oil and natural gas properties near Twining, Alberta to a third party for cash consideration of $13,820,000 before … Read more

Blackbird Energy Inc. Provides Operational Update

July 20, 2018 by EnergyNow Media

July 20, 2018 03:00 ET | Source: Blackbird Energy Inc Figure One Blackbird Development Plan Execution Map Blackbird Energy Inc CALGARY, Alberta, July 20, 2018 (GLOBE NEWSWIRE) — (TSX-V:BBI) Blackbird Energy Inc. (“Blackbird” or the “Company”) is pleased to provide an operational update including planned drilling activity, an update on infrastructure build out and the continued progression of … Read more

Raise Production Inc. Announces Extension of Warrants

July 20, 2018 by EnergyNow Media

July 19, 2018 17:53 ET | Source: Raise Production Inc. CALGARY, Alberta, July 19, 2018 (GLOBE NEWSWIRE) — Raise Production Inc. (TSX-V:RPC) (“Raise” or the “Company”) announces that it intends to extend the term of 4,466,072 warrants to purchase common shares of Raise which were originally issued in tranches on February 10, 2017 and February 21, 2017 in … Read more

Pulse Seismic Inc. Reports Q2 2018 Results

July 20, 2018 by EnergyNow Media

July 19, 2018 | Source: Pulse Seismic Inc. CALGARY, Alberta, July 19, 2018 (GLOBE NEWSWIRE) — Pulse Seismic Inc. (TSX:PSD) (OTCQX:PLSDF) (“Pulse” or “the Company”) is pleased to report its financial and operating results for the three and six months ended June 30, 2018. The unaudited condensed consolidated interim financial statements, accompanying notes and MD&A are being … Read more

Oil Extends Gain Near $70 as Saudis Vow Not to Oversupply Market

July 20, 2018 by EnergyNow Media

July 20, 2018 by Heesu Lee and Grant Smith (Bloomberg) Oil extended gains near $70 a barrel in New York, paring a third weekly loss, after Saudi Arabia said it will not flood the market with crude. West Texas Intermediate futures rose 0.4 percent, bringing this week’s decline to 1.8 percent. OPEC’s de facto leader … Read more

Trudeau’s Climate Polices Face a Mounting Provincial Backlash

July 20, 2018 by EnergyNow Media

Jul 20, 2018 by Christopher Flavelle and Josh Wingrove (Bloomberg) Two years ago, Canadian Prime Minister Justin Trudeau announced a set of aggressive policies to reduce his country’s greenhouse gas emissions, centered on a nationwide price on carbon. As that price is about to take effect, growing opposition has put Trudeau on the defensive and … Read more

New York’s Global Warming Suit Against Oil Companies Tossed

July 20, 2018 by EnergyNow Media

July 19, 2018, by Bob Van Voris and Kevin Crowley (Bloomberg) A U.S. judge threw out New York’s lawsuit seeking to hold five of the world’s biggest oil companies financially responsible for contributing to climate change. U.S. District Judge John Keenan dismissed the city’s claims against Exxon Mobil Corp., Chevron Corp., BP Plc, Royal Dutch … Read more

Saudis Pump More Oil for Trump, Then Doubt If It’s Needed

July 20, 2018 by EnergyNow Media

July 20, 2018, by Grant Smith and Javier Blas (Bloomberg) Under pressure from U.S. President Donald Trump, Saudi Arabia has rushed to boost oil production — only to discover that global markets might not yet need it. The kingdom’s crude output surged the most in three years last month, as Trump demanded his ally’s help … Read more

Five Things to Know in World Business – July 20, 2018

July 20, 2018 by EnergyNow Media

July 20, 2018, by Lorcan Roche Kelly (Bloomberg) Jay-talking President Donald Trump criticized the interest-rate polices of the Federal Reserve under Chair Jerome Powell, saying “I don’t like all of this work that we’re putting into the economy and then I see rates going up,” in an interview with CNBC broadcast yesterday. The president’s comments, … Read more

FRAC SHACK: JOB FAIR! – Friday July 20th : Looking for a Career with a Fast Growing Company? You’ve Found It!! – Details HERE

July 20, 2018July 20, 2018 by EnergyNow Media

Baytex Energy helps spread a message of support – Canada Action

July 20, 2018July 20, 2018 by EnergyNow Media

The message is clear: the oil and gas industry is a fundamental part of the Canadian economy. A tanker owned by AIM Transport/Baytex Energy and pulled by Nexon Ltd., is covered with a message to action via canadaaction.ca Joanne McQuarrie Record-Gazette It’s a strong message in support of the resource sector – and it’s hard to … Read more

Let’s Share the FACTS: Why is Canada Expanding the Trans Mountain Pipeline? Please Watch & Share with Other Canadians

July 20, 2018July 20, 2018 by EnergyNow Media

Saudi Arabia Says It Won’t Oversupply the Global Oil Market

July 19, 2018 by EnergyNow Media

July 19, 2018 by Grant Smith (Bloomberg) Saudi Arabia rejected concerns that it’s planning to oversupply global oil markets and said it will actually trim crude exports next month. Under pressure from U.S. President Donald Trump to cool rallying prices, the kingdom bolstered production by the most in three years last month, pumping almost 10.5 … Read more

EnerCorp Welcomes Amy H. Nelson To Board of Directors

July 19, 2018 by EnergyNow Media

Today EnerCorp announced the appointment of Amy H. Nelson to their Board of Directors. Nelson currently serves as the president of Greenridge Advisors, LLC, an energy services and equipment consulting firm, which she founded in 2007. Nelson has worked for companies such as SCF Partners and Amoco Production Company. She also currently serves on the … Read more

Report: Lake oil spill in Michigan would cost nearly $2B

July 19, 2018July 19, 2018 by The Canadian Press

DETROIT — Hundreds of miles of Great Lakes shoreline would be spoiled under a worst-case scenario oil spill in Michigan’s Straits of Mackinac, scientists reported Thursday.
The cost of a doomsday spill could be as high as $1.8 billion, including $500 …

LNG Development 2.0 Could be Generational – Enterprise Group (E:TSX)

July 19, 2018 by EnergyNow Media

Not long ago, in a land not far from here or there, the Canadian Resource sector took two near fatal mortar rounds to the chest. The first was the oil price decline that left the sector neutered in 2015 with many casualties. In the midst of that recovery, the jubilation for LNG exports to Asia … Read more

WATCH: Zone Startups Calgary Shares Why Accelerators Make All the Difference

July 19, 2018 by EnergyNow Media

GE Reports – with Heather Herring “You’d think it’d be competitive, but it’s very collaborative,” says Heather Herring, President of Make It So Inc. She’s talking about the culture at Zone Startups Calgary, an accelerator focused on building innovative companies for the industrial internet. Heather is the Executive in Residence at the hub, and we … Read more

Toscana Energy Announces Director Appointment

July 19, 2018 by EnergyNow Media

July 18, 2018 Globe Newswire CALGARY, Alberta, July 18, 2018 (GLOBE NEWSWIRE) — Toscana Energy Income Corporation (“Toscana”) (TSX:TEI) today announces that Mr. Stanley Smith has been appointed to the Board of Directors effective July 18, 2018 and has also been appointed as Chair of the Audit Committee of Toscana. Mr. Smith is a designated accountant … Read more

Canadian Natural Resources Limited Announces 1 Billion Barrel Production Milestone at the Athabasca Oil Sands Project

July 19, 2018 by EnergyNow Media

July 19, 2018 | Source: Canadian Natural Resources Limited CALGARY, Alberta, July 19, 2018 (GLOBE NEWSWIRE) — Canadian Natural Resources Limited (“Canadian Natural”), as operator of the Jackpine and Muskeg River mines at the Athabasca Oil Sands Project (“AOSP”), is pleased to announce that the AOSP has achieved a mined production milestone of 1 billion barrels since … Read more

Oil Slides Near $68 as U.S. Crude Stocks Expand, Gasoline Drops

July 19, 2018 by EnergyNow Media

July 19, 2018 by Heesu Lee and Grant Smith (Bloomberg) Oil slipped toward $68 a barrel after mixed U.S. government data sowed uncertainty about the strength of demand in the biggest fuel-consuming nation. Futures in New York fell as much as 1.4 percent after the data showed a surprise gain in nationwide crude inventories and … Read more

LNG Terminal Poised to Boost Struggling Canadian Gas Producers

July 19, 2018 by EnergyNow Media

July 19, 2018 by Kristine Owram (Bloomberg) A liquefied natural gas terminal in British Columbia will “re-focus people on Canadian gas,” giving a boost to stocks like Tourmaline Oil Corp. and ARC Resources Ltd., according to the manager of more than C$500 million ($377 million) in assets for Bank of Nova Scotia. A C$40 billion … Read more

Five Things to Know in World Business – July 19, 2018

July 19, 2018 by EnergyNow Media

July 19, 2018, by Lorcan Roche Kelly (Bloomberg) Too close? There is growing concern among administration officials that there might be no shaking of the public perception that President Donald Trump is too close to Russian’s Vladimir Putin. Despite criticism from House Republicans, it seems unlikely the president will backtrack further, as he remains popular with his base as … Read more

OPEC Seeking Legal Strategy as U.S. Pushes Anti-Cartel Bill

July 19, 2018 by EnergyNow Media

July 18, 2018, by Paul Burkhardt and Grant Smith (Bloomberg) OPEC is consulting with lawyers to prepare a strategy to defend against proposed U.S. legislation that could open the cartel up to antitrust lawsuits, according to people familiar with the matter. The organization’s legal team will hold talks in the coming days with law firms … Read more

Republicans Move to Kill Carbon Tax Before It Gains Steam

July 19, 2018 by EnergyNow Media

Jul 18, 2018, 11:38:13 AM, by Jennifer A. Dlouhy (Bloomberg) A new, Republican-led effort to tax carbon dioxide emissions isn’t likely to make it to a vote in the House of Representatives anytime soon — but opponents aren’t taking any chances. The House is slated to vote as soon as Wednesday afternoon on a resolution offered … Read more

Hydrogen sulfide leak at Suncor refinery sends workers to hospital

July 19, 2018July 18, 2018 by The Canadian Press

EDMONTON — A number of people at Suncor’s refinery in Edmonton were sent to hospital after a toxic gas was released at the facility.
Suncor spokeswoman Erin Rees says company crews responded to a release of hydrogen sulfide at around noon on Wednesday…

City of Burnaby issues eviction notice to protesters at Kinder Morgan terminal

July 19, 2018July 18, 2018 by The Canadian Press

BURNABY, B.C. — The City of Burnaby is evicting protesters from a make-shift camp set up outside one of Kinder Morgan’s terminals, citing fire safety and public health concerns.
City manager Lambert Chu says the city is worried about how the footprint…

Saturn Oil & Gas Inc. Closes $4.04 Million Private Placement Co-Led by Canaccord Genuity and Gravitas Securities

July 18, 2018 by EnergyNow Media

July 18, 2018 Globe Newswire SASKATOON, Saskatchewan, July 18, 2018 (GLOBE NEWSWIRE) — Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX.V:SMI) (FSE:SMK) is pleased to announce that it has completed the previously announced (see news release dated June 13, 2018) brokered private placement of flow-through common shares (the “Flow-Through Shares“) and both brokered and … Read more

Kinder Morgan Canada earns $13.7 million in Q2 in 45 per cent drop

July 18, 2018July 18, 2018 by The Canadian Press

CALGARY — Kinder Morgan says the $4.5 billion deal to sell Trans Mountain pipeline assets to the federal government is progressing well.
“We are laser-focused right now on closing this transaction, and that process is goin…

Largest oil shipment sent from Vancouver to China since 2015

July 18, 2018July 18, 2018 by EnergyNow Media

July 18, 2018, by Colin Eaton HOUSTON (Reuters) – An Aframax tanker is scheduled to deliver the largest shipment of crude oil from Vancouver to China since January 2015 later this month, Thomson Reuters trade flow data show. For years, Canadian officials have pushed for an escalation in crude exports to rapidly growing Asian markets, … Read more

U.S. FERC says it is streamlining the amount of time it takes to permit a new liquefied natural gas (LNG) terminal

July 18, 2018 by EnergyNow Media

The chairman of the U.S. Federal Energy Regulatory Commission (FERC) said on Tuesday the agency has made “significant strides” in its process to reduce the amount of time it takes to permit a new liquefied natural gas (LNG) terminal.FERC Chairman Kevin McIntyre made his comments in a commission podcast following recent media reports that FERC … Read more

U.S. crude oil output hits 11 million barrels per day for first time ever

July 18, 2018 by EnergyNow Media

July 18, 2018 Reuters (Reuters) – U.S. crude oil production last week hit 11 million barrels per day (bpd) for the first time in the nation’s history, the Energy Department said on Wednesday, as the ongoing boom in shale production continues to drive output. The gains represent a rapid increase in output, as the data, if … Read more

Aecon Group joint venture wins Enbridge Line 3 replacement contract

July 18, 2018July 18, 2018 by The Canadian Press

TORONTO — Aecon Group Inc. says its joint venture with Robert B. Somerville Co. Ltd. has won a $282-million contract for a work on Enbridge Inc.’s Line 3 replacement project in Manitoba.
The work includes constructing 92.2 kilometres of pipeline in th…

Oil Falls After Industry Data Show Surprise U.S. Stockpile Gain

July 18, 2018 by EnergyNow Media

July 18, 2018 by Grant Smith and Alex Longley (Bloomberg) Oil slipped in New York, approaching its lowest level in almost a month, after a surprise increase in U.S. crude inventories further allayed concerns of a looming supply crunch. Futures in New York dropped as much as 1 percent. The American Petroleum Institute was said … Read more

Canadian LNG Seen Having Knock-on Boost to Country’s Oil Output

July 18, 2018July 18, 2018 by EnergyNow Media

July 17, 2018 by Robert Tuttle (Bloomberg) British Columbia liquefied natural gas plants will have knock-on benefits for oil producers, restoring output to levels almost equal to the peak of 2014. Should two planned LNG plants be built along the B.C. coast, the added natural gas production would also raise output of condensate, the Canadian … Read more

Amid Trump Trade War, Trans Mountain’s Asia Appeal Grows Crucial

July 18, 2018July 18, 2018 by EnergyNow Media

July 17, 2018 by Kevin Orland and Natalie Obiko Pearson (Bloomberg) With U.S. President Donald Trump’s trade war against Canada showing no sign of abating, the work on the Trans Mountain pipeline expansion that’s starting next month may seem like a godsend for a nation striving to reduce dependence on its southern neighbor. After all, … Read more

Parex to Explore Potential Strategic Repositioning

July 18, 2018 by EnergyNow Media

July 17, 2018 | Source: Parex Resources Inc. CALGARY, Alberta, July 17, 2018 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX:PXT), a company headquartered in Calgary, Alberta and focused on Colombian oil exploration and production, announces that its Board of Directors (“Board“) has determined it is timely, prudent and in the best interests of … Read more

Delphi Energy Corp. Provides Operations Update and Second Half 2018 Outlook

July 18, 2018July 18, 2018 by EnergyNow Media

July 18, 2018 | Source: Delphi Energy Corporation CALGARY, Alberta, July 18, 2018 (GLOBE NEWSWIRE) — Delphi Energy Corp. (“Delphi” or the “Company”) is pleased to provide an update on operations and guidance for the second half of 2018. Delphi is among the most liquid-rich gas producers in the Montney, with field condensate and natural gas liquids (“NGLs”) comprising approximately … Read more

China says U.S.-led trade war has become biggest ‘confidence killer’ for world economy

July 18, 2018 by EnergyNow Media

July 18, 2018 BEIJING (Reuters) – The U.S.-driven trade war has become the biggest “confidence killer” for the global economy, China’s foreign ministry warned on Wednesday, saying the whole world would fight back if the United States continued to be “wilful”. Foreign ministry spokeswoman Hua Chunying told reporters at a regular press briefing that the … Read more

‘Bridge to Nowhere’ Leaves Pent-Up Permian Gas Problems Unsolved

July 18, 2018 by EnergyNow Media

July 18, 2018, by Naureen S. Malik (Bloomberg) A major Mexican pipeline opened this week after almost two years of delays. That’s the good news for drillers across the border who are seeking an expanded market for natural gas siphoned from the pent-up Permian Basin. The bad news: The conduit won’t fill to capacity until … Read more

IHS Markit sees Canadian oil sands growth moderating after 2019

July 18, 2018July 18, 2018 by EnergyNow Media

July 17, 2018 (Reuters) – Canadian oil sands production will rise more than half a million barrels per day in 2019 and growth will moderate thereafter, according to a forecast by data firm IHS Markit (INFO.O). Canada has emerged as the primary source of heavy oil supply in the world as output from other large … Read more

Five Things to Know in World Business – July 18, 2018

July 18, 2018 by EnergyNow Media

July 18, 2018, by Lorcan Roche Kelly (Bloomberg) $5 billion The European Union is set to announce a record fine of 4.3 billion euros ($5 billion) for Google over apps for Android mobile devices. The antitrust penalty would bring the running total of EU charges imposed on the company to 6.7 billion euros. Competition Commissioner Margrethe Vestager … Read more

Intelligent visual monitoring solution cuts oil well site visits by 50% – Osprey Informatics

December 17, 2018July 18, 2018 by EnergyNow Media

Customer cuts routine well site visits by 50% while enhancing operator productivity and improving incident response. INDUSTRY: Oil and Gas CUSTOMER PROFILE: Major integrated oil and gas company APPLICATION: Remote well site area monitoring “Osprey Reach is an efficient and reliable way to to remotely monitor well sites. The return on investment is clear.” Senior … Read more

Product Announcement: Vertical Projection Models Now Available on HHP2 Series of Heaters – Hazloc Heaters

July 18, 2018July 18, 2018 by EnergyNow Media

Hazloc HeatersTM, a leading manufacturer of industrial unit heaters and thermostats for hazardous and severe-duty locations, is pleased to announce the addition of vertical projection models on the HHP2 series of steam and hydronic unit heaters. The HHP2 series of heat-exchanger unit heaters is designed for rugged industrial applications in steam, hot water, glycol or … Read more

Germany, EU launch talks on Russia-Ukraine gas transit

July 17, 2018 by The Canadian Press

BERLIN — Germany is hosting European Union-brokered talks between Moscow and Kyiv on the future transit of Russian gas through Ukraine after the current contract expires next year.
German Economy Minister Peter Altmaier met Tuesday with Russia’s energ…

Social Engineering in Oil and Gas: Criminals are no longer hacking your firewalls and antivirus, they’re hacking your employees – Startech Business Systems

July 17, 2018July 17, 2018 by EnergyNow Media

Social Engineering is the art of manipulating people to provide confidential information and access that wouldn’t normally be given to a complete stranger. Often criminals will seek to acquire things like banking info, passwords to ecommerce sites, or access to your computer or server to install malicious software to then hold you or your company … Read more

Surge Energy Inc. Announces Appointments to the Board of Directors

July 17, 2018 by EnergyNow Media

July 16, 2018 CNW CALGARY, July 16, 2018 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce the appointments of Ms. Marion Burnyeat and Ms. Allison Maher to the Board of Directors effective July 16, 2018. Ms. Burnyeat is an experienced businesswoman having spent nearly thirty years in the energy sector primarily with Spectra Energy Corporation and … Read more

Oil Steadies After Slump as Traders Still Wary on Supply Risks

July 17, 2018July 17, 2018 by EnergyNow Media

July 17, 2018 by Sharon Cho and Grant Smith (Bloomberg) Oil steadied after another sharp pullback as traders remained wary over whether supplies will be sufficient to cover a range of global disruptions. Futures in New York traded near $68 a barrel, having tumbled 4.2 percent on Monday as Libya restored output at some fields … Read more

Why Oil Pipelines Have Always Been A Challenge For Alberta Producers – David Yager

July 17, 2018July 17, 2018 by EnergyNow Media

By David Yager Oilfield Services Executive Advisory – Energy Policy Analyst Canada’s prairie provinces are not an ideal location from which to export large quantities of oil and gas. The Western Canadian Sedimentary Basin (WCSB) is on the eastern flank of the Rocky Mountains which run parallel to the Pacific Ocean. The western fringe of … Read more

For Now, Canadians See Trudeau as Their Best Bet for Dealing With Trump

July 17, 2018July 17, 2018 by EnergyNow Media

July 16, 2018, by Josh Wingrove (Bloomberg) Canadians are backing Justin Trudeau in his trade spat with Donald Trump, saying the prime minister is the best party leader to deal with the White House. In Nanos Research polling conducted for Bloomberg News as Canada finalized retaliatory tariffs against its biggest trading partner, 41 percent of … Read more

Five Things to Know in World Business – July 17, 2018

July 17, 2018 by EnergyNow Media

July 17, 2018, by Lorcan Roche Kelly (Bloomberg) Under pressure President Donald Trump’s post-meeting press conference with Russian leader Vladimir Putin has provoked the most intense backlash from congressional members of the Republican party since his term began. “The president must appreciate that Russia is not our ally,” said House Speaker Paul Ryan, who is leaving Congress … Read more

Trump Says U.S. Will Compete With Russia for European Gas Market

July 17, 2018 by EnergyNow Media

July 16, 2018, by Elena Mazneva (Bloomberg) U.S. President Donald Trump eased his tone about a Russian natural gas pipeline to Germany after a one-on-one meeting with President Vladimir Putin, shifting from the harsh criticism he’d levied in Europe last week. “We are going to be selling LNG and will have to be competing with … Read more

Oil & Gas Signage: Putting a New Decal on an Existing Sign Can Make More Sense- IDENT

July 17, 2018July 17, 2018 by EnergyNow Media

While we always imagine our signs and decals spending eternity together, it often just doesn’t work out that way. Sometimes it’s that the decal is weathered and worn faster than the sign, or sometimes the information on the decal just needs to be updated. Whatever the reason, there are times when a perfectly good sign … Read more

Imperial Oil’s Kearl oilsands tailings plan wins conditional AER approval

July 17, 2018July 17, 2018 by The Canadian Press

CALGARY — The Alberta Energy Regulator has conditionally approved a tailings pond management plan for the five-year-old Kearl oilsands mine in northern Alberta.
The plan is the sixth since last fall to win interim approval despite the regulator’s rese…

The World’s First Smart Fluid Level Machine Delivers Big Value Data – Premier Integrated Technologies

July 16, 2018 by EnergyNow Media

PIT’s answer to simple, smart, optimized fluid level reading is brought forward with the FL3. The FL3 is a simple, easy to use tool used to gather downhole fluid levels and pressure measurements. Users can quickly optimize pump speeds to get the most from their well and protect the pump in the process. Functional as … Read more

Trudeau’s youth council divided over Trans Mountain pipeline purchase

July 17, 2018July 16, 2018 by The Canadian Press

OTTAWA — Fissures have appeared inside Prime Minister Justin Trudeau’s youth council after a group of current and former members publicly urged the Liberal government to reverse its decision to buy Kinder Morgan’s Trans Mountain pipeline.
The request …

U.S. oil boom delivers surprise for traders – and it’s costly

July 16, 2018 by EnergyNow Media

July 15, 2018 Reuters LONDON/NEW YORK (Reuters) – The world’s biggest oil traders are counting hefty losses after a surprise doubling in the price discount of U.S. light crude to benchmark Brent in just a month, as surging U.S production upends the market. Trading desks of oil major BP and merchants Vitol, Gunvor and Trafigura have … Read more

Pine Cliff Energy Ltd. Announces Borrowing Base Redetermination, Closing of a Private Placement and Increase and Extension of Insider Subordinated Debt

July 16, 2018 by EnergyNow Media

July 13, 2018 | Source: Pine Cliff Energy Ltd. CALGARY, Alberta, July 13, 2018 (GLOBE NEWSWIRE) — Pine Cliff Energy Ltd. (“Pine Cliff” or the “Company”) (TSX:PNE) is pleased to announce that a banking syndicate of Canadian Financial Institutions (the “Syndicate”) has completed the semi-annual borrowing base redetermination and has renewed the credit facility for a period … Read more

Saturn Oil & Gas Inc. Commences Viking and Success Horizontal Drill Program

July 16, 2018 by EnergyNow Media

July 16, 2018 | Source: Saturn Oil + Gas Inc SASKATOON, Saskatchewan, July 16, 2018 (GLOBE NEWSWIRE) — Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX.V:SMI) (FSE:SMK) is pleased to announce that it has commenced drilling operations for its Q3/2018 horizontal drill program. Saturn’s Q3/2018 five (5) well program will consist of one (1) Success … Read more

Ontario Vows to Kill More Than 750 Clean-Power Project Contracts

July 16, 2018 by EnergyNow Media

by Brian Eckhouse (Bloomberg) Ontario Premier Doug Ford vowed to cancel and wind down more than 750 contracts for renewable power projects, making good on a campaign pledge to revamp the province’s energy policies. Terminating the early-stage projects, which the government didn’t identify, would save electricity customers in the Canadian province C$790 million ($600 million), … Read more

Oil Falls as Saudis Offer More Supply, U.S. Weighs SPR Release

July 16, 2018 by EnergyNow Media

July 16, 2018 by Grant Smith (Bloomberg) Oil retreated below $70 a barrel as Saudi Arabia was said to offer extra crude to some customers, while the U.S. was said to consider tapping emergency supplies to offset losses elsewhere. Futures in New York slid 2 percent after falling 3.8 percent last week. Saudi Arabia offered … Read more

Germany says pipeline, criticised by Trump, is a commercial project

July 16, 2018 by EnergyNow Media

July 16, 2018 BERLIN (Reuters) – Germany said on Monday that the Nord Stream 2 Baltic Sea pipeline to import more Russian gas was a commercial project, resisting U.S. President Donald Trump’s characterisation of the venture as “inappropriate”. “Nord Stream 2 is first and foremost a commercial project,” government spokesman Steffen Seibert told a regular … Read more

Iran to Saudi: OPEC deal does not give the right to pump oil above target

July 16, 2018 by EnergyNow Media

July 16, 2018, by Rania El Gamal DUBAI (Reuters) – Iran’s oil minister told his Saudi Arabian counterpart that last month’s OPEC supply pact does not give member countries the right to raise oil production above their targets, according to a letter reported by Iran’s news agency Shana. The Organization of the Petroleum Exporting Countries … Read more

Five Things to Know in World Business – July 16, 2018

July 16, 2018 by EnergyNow Media

July 16, 2018, by Lorcan Roche Kelly (Bloomberg) Finland summit Donald Trump is meeting Vladimir Putin in Helsinki, Finland this morning with the president under pressure to confront his Kremlin counterpart over meddling in the 2016 election. Trump said that he will inevitably be criticized for the gathering, no matter the outcome, tweeting that “much of … Read more

Pleads guilty: Nexen fined $750K for huge pipeline spill in northern Alberta

July 16, 2018July 16, 2018 by The Canadian Press

CALGARY — A Calgary energy company has pleaded guilty to federal and provincial environmental charges over one of the largest pipeline spills in Alberta history.
Nexen has been ordered to pay a total of $750,000 in fines for the Long Lake spill southe…