February 28, 2019 | Source: Strad Energy Services Ltd. NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES (“U.S.”) The news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For full disclosure of the forward-looking information and statements and the risks to which they are … Read more
February 28, 2019 Globe Newswire CALGARY, Alberta, Feb. 28, 2019 (GLOBE NEWSWIRE) — Pieridae Energy Limited (“Pieridae”) (TSXV: PEA) is pleased to announce that it has closed its previously announced brokered private placement of common shares of the Company for gross proceeds of approximately $15.2 million (including the partial exercise of the over-allotment option) (the “Brokered … Read more
February 28, 2019 Globe Newswire CALGARY, Alberta, Feb. 28, 2019 (GLOBE NEWSWIRE) — (CJ:TSX) Cardinal Energy Ltd. (“Cardinal” or the “Company”) is pleased to announce that its Board of Directors has approved a base operating budget for 2019 that will focus on a sustainable dividend, long-term operating cost reduction initiatives, debt repayment and maintaining our production … Read more
EDMONTON — Premier Rachel Notley says Alberta will again ease mandatory oil production cuts due to lower storage levels.
The province says it will allow increased production by 25,000 barrels per day in April.
This will be the second increase since De…
Calgary, Alberta–(Newsfile Corp. – February 28, 2019) – Divestco Inc. (TSXV: DVT) (“Divestco” or the “Company“) announces that its Board of Directors has approved the Company’s initiation of proceedings at the Court of Queen’s Bench of Alberta to seek creditor protection under the Companies’ Creditors Arrangement Act (the “CCAA“). After careful consideration of all other available alternatives, … Read more
HALIFAX — The federal government is stepping in to regulate a company’s controversial plan to use water from one of Nova Scotia’s major rivers to create huge underground caverns to store natural gas, but a Mi’kmaq leader says Ottawa’s move doesn’t go …
By Josh Wingrove and Theophilos Argitis Updated on February 27, 2019, 10:00 PM MST Ex-minister breaks silence on scandal that has rocked Canada PM maintains he was merely protecting jobs at SNC-Lavalin Justin Trudeau is facing the most explosive crisis of his administration after his former attorney general detailed a months-long campaign by the Canadian prime … Read more
February 28, 2019 Reuters Oil prices fell on Thursday, as U.S.-China trade tensions persisted, the Chinese economy showed signs of slowing and record U.S. production undermined OPEC-led output curbs. U.S. West Texas Intermediate (WTI) crude was down 40 cents or 0.7 percent at $56.54. Brent crude was down 61 cents or 0.9 percent at $65.78 … Read more
Feb 28, 2019 by Rachel Adams-Heard and Kevin Crowley (Bloomberg) Shockwaves in the c-suites of shale companies are showing investor frustration with an industry that continues to outspend cash flow. Independent drillers such as Alta Mesa Resources Inc. and Centennial Resource Development Inc., whose leaders were once rewarded for amassing vast portfolios of drilling rights, … Read more
BENGALURU (Reuters) – Oil analysts have grown more pessimistic over the prospects for a significant price rally this year, as booming U.S. shale output and a deteriorating global economic backdrop threaten to offset the boost from OPEC’s crude supply cuts. A Reuters survey of 36 economists and analysts on Thursday forecast Brent crude oil futures … Read more
February 28, 2019 CNW CALGARY, Feb. 28, 2019 /CNW/ – Return Energy Inc. (“Return” or the “Company“) (TSX-V: “RTN”) today announced summary results of its 2018 independent reserve report (the “Reserve Report”), prepared by Sproule Associates Limited (“Sproule”), an independent qualified reserve evaluator, showing a significant increase in Proved Plus Probable (“2P”) reserves. The Reserve Report is effective as at December … Read more
February 28, 2019 Newswire CALGARY, Feb. 28, 2019 /PRNewswire/ – Vermilion Energy Inc. (“Vermilion”, “We”, “Our”, “Us” or the “Company”) (TSX, NYSE: VET) is pleased to report operating and financial results for the year ended December 31, 2018 along with our 2018 reserves and resources information. The audited financial statements, management discussion and analysis, and annual information form … Read more
February 28, 2019 CNW CALGARY, Feb. 28, 2019 /CNW/ – Whitecap Resources Inc. (“Whitecap” or the “Company”) (TSX: WCP) is pleased to report its operating and audited financial results for the year ended December 31, 2018. Selected financial and operating information is outlined below and should be read with Whitecap’s audited annual consolidated financial statements and related Management’s Discussion … Read more
February 28, 2019 Business Wire Proved plus probable reserves valued at $12.3 billion by independent reserve evaluator as of December 31, 2018 CALGARY, Alberta–(BUSINESS WIRE)–2018 HIGHLIGHTS 2018 adjusted funds flow of $1.67 billion or $4.60 per share, representing a per share increase of 36 percent compared to 2017. 2018 net income of $440 million, $1.21 per … Read more
February 27, 2019 The Canadian Press EDMONTON – Alberta is on track for a $6.9-billion budget deficit amid speculation voters will go to the polls this spring before a new budget is introduced. The budget had originally forecast a deficit of $8.8 billion, but Finance Minister Joe Ceci says a lower dollar and … Read more
February 28, 2019 Brad Wall Canoe Financial is the proud presenting partner for Brad Wall’s column Governments, no matter their ideological mooring, earnestly seek to solve problems. That’s been both my experience and my observation. I believe that to be the case with Premier Notley’s efforts to deal with the oil industry’s backbreaking and government bank-breaking … Read more
Feb 28, 2019 by Kelly Gilblom (Bloomberg) — Right from the start of London’s biggest gathering of oil traders and producers, uncomfortable truths began to intrude upon the usual round of business meetings and cocktail parties. Three climate-change protesters who glued their hands to the doors of the conference venue found that nature was making … Read more
Feb 27, 2019 by Jessica Summers (Bloomberg) The U.S. imported the least amount of crude oil on a weekly basis in 23 years, as OPEC-members Saudi Arabia and Venezuela cut their shipments to unusually low levels. Weekly crude imports fell 1.61 million barrels a day to 5.92 million, the lowest level since 1996. Weekly imports … Read more
Feb 28, 2019 by Cecile Gutscher (Bloomberg) Hopes for Korean nuke deal torpedoed, China PMIs interrupt growth rally, and Ray Dalio cuts odds of a U.S. recession. Here are some of the things people in markets are talking about today. Know when to fold ’em President Donald Trump’s talks with North Korea ended with his … Read more
CALGARY — Encana Corp. reported a fourth-quarter profit of US$1.03 billion compared with a loss a year ago as production increased 20 per cent.
The Calgary-based energy company, which keeps its books in U.S. dollars, says the profit amounted to $1.08 …
Sustainable model delivered free cash flow, strong growth in proved reserves and high-margin liquids Email Print Friendly Share February 28, 2019 | Source: Encana Corporation Fourth quarter and full-year 2018 highlights: Fourth quarter total production of 403,400 barrels of oil equivalent per day (BOE/d) Fourth quarter liquids production grew more than 25 percent year-over-year, to 192,700 barrels per … Read more
Encana discloses 2019 full-year proforma guidance Email Print Friendly Share February 28, 2019 06:01 ET | Source: Encana Corporation Plan to deliver unique combination of free cash flow, return of cash to shareholders and high-margin liquids growth 2019 full-year proforma capital investment plan set at $2.7 to $2.9 billion, with more than 75 percent allocated to its Core 3 … Read more
There’s a common theme we frequently hear from our members, “Our laydown yards are brimming with oversupply and its costing us write downs, we just don’t have the personnel to get it to market. Can you help us?” Yes, Bolongo can help. We specialize in marketing excess material, and our members represent a network of … Read more
February 27, 2019 CNW CALGARY, Feb. 27, 2019 /CNW/ – Gear Energy Ltd. (“Gear” or the “Company”) (TSX:GXE) is pleased to provide the following fourth quarter operating update to shareholders. Gear’s Consolidated Financial Statements and related Management’s Discussion and Analysis (“MD&A”) for the period ended December 31, 2018 are available for review on Gear’s website at www.gearenergy.com and on www.sedar.com. Financial Summary Three … Read more
February 27, 2019 CNW CALGARY, Feb. 27, 2019 /CNW/ – Gear Energy Ltd. (“Gear” or the “Company”) (TSX:GXE) is pleased to present the following results and analysis of its 2018 year-end independent reserve report prepared by its new independent evaluator Sproule Associates Limited (“Sproule”). In 2018 Gear invested $110.0 million consisting of $43.8 million of development capital and $66.2 million in acquisition and divestiture … Read more
PRINCE GEORGE, B.C. — A British Columbia First Nation near the explosion of a natural gas transmission pipeline owned by Enbridge has filed a lawsuit against the energy company.
Chief Dominic Frederick of Lheidli T’enneh First Nation near Prince Georg…
CALGARY — The industry relations director for the Mikisew Cree First Nation says the community’s support of the massive Frontier oilsands open pit mining project includes an ongoing voice in how future development unfolds.
Melody Lepine says the confi…
Equalization payments are often a political bludgeon that is misunderstood and misused. Want to get the low-down on equalization? Check out the ENERGYminite video
February 27, 2019 CNW TSX:TVE – CALGARY, Feb. 27, 2019 /CNW/ – Tamarack Valley Energy Ltd. (“Tamarack” or the “Company“) is pleased to announce its financial and operating results for the three and twelve months ended December 31, 2018 and the results of its independent oil and gas reserves evaluation as of December 31, 2018, prepared by GLJ Petroleum Consultants Ltd. … Read more
February 27, 2019 CNW CALGARY, Feb. 27, 2019 /CNW/ – Journey Energy Inc. (JOY – TSX) (“Journey” or the “Company“) is pleased to report its year-end 2018 oil and gas reserves evaluation. During 2018, the Company invested approximately $27 million in capital projects net of acquisition and divestiture (“A&D“) activities. Exploration and development (“E&D“) activities accounted for approximately $32 million while A&D … Read more
CALGARY, Alberta, Feb. 27, 2019 (GLOBE NEWSWIRE) — Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced the Company’s financial and operating results for the fourth quarter and year ended December 31, 2018. All dollar amounts are in United States (“U.S.”) dollars unless otherwise indicated. Production and reserves amounts are on an average … Read more
LONDON/RIYADH (Reuters) – Saudi Energy Minister Khalid al-Falih said on Wednesday that OPEC and its partners were “taking it easy”, in response to a tweet from U.S. President Donald Trump requesting that oil producers relax their efforts to boost oil prices. “The 25 countries are taking a very slow and measured approach. Just as the … Read more
Feb 27, 2019, by Grant Smith (Bloomberg) Oil climbed in New York as Saudi Arabia signaled that OPEC and its allies will keep going with production cuts despite pressure from U.S. President Donald Trump to moderate prices. West Texas Intermediate futures advanced as much as 2.1 percent, the second daily increase since Trump’s Twitter intervention … Read more
Feb 27, 2019, by Lorcan Roche Kelly (Bloomberg) Strike back The conflict between Asia’s nuclear neighbors intensified after Islamabad said it shot down two Indian aircraft in the disputed region of Kashmir today. In a statement, India confirmed losing one jet, and said Pakistan also lost one. Much of the airspace in the region is now closed, and there are reports … Read more
Each week, XI Technologies scans their unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. This week we’ve dug into our drilling data to give you our biannual Drilling Top Tens. If you’d like Wednesday Word to the Wise delivered directly to your inbox, … Read more
Energy resources are often located in the most remote, undeveloped, and difficult to access areas. Getting trucks and equipment into these sites can be a real challenge, especially in the Spring and Fall months when the ground is extremely soft, wet and muddy. The GEOWEB® 3D soil confinement system offers cost-effective roadway and work platform … Read more
When key business decisions need to be made in short time frames amid a backdrop of market volatility, a robust financial model remains one of the top tools in your company’s arsenal to evaluate the consequences of your strategy. Bank of Canada Governor Stephen Poloz has cautioned Canadians to be prepared for economic volatility (although … Read more
Feb 26, 2019 by Robert Tuttle and Kevin Orland (Bloomberg) Alberta oil producers have found a way around production limits imposed on them by the provincial government: buy the right to pump barrels from other companies that don’t need them. The volumes aren’t huge — Husky Energy Inc. is buying rights to produce an additional … Read more
EDMONTON — Alberta Premier Rachel Notley is to make her case in person to a Senate committee studying proposed legislation that would change how major energy projects are approved.
Notley is to appear before the energy, environment and natural resourc…
Feb 26, 2019, by David R. Baker (Bloomberg) A Canadian utility has agreed to test technology developed by a Florida startup to extract hydrogen from seawater — a process that, if it works, could provide a new source of clean energy for coastal communities. NB Power, the largest electric utility in the Maritime province of … Read more
Feb 26, 2019, by Malcolm Scott (Bloomberg) The global economy may have already bottomed out, according to Goldman Sachs Group Inc. Chief Economist Jan Hatzius. While growth remains soft, Goldman’s current activity indicator in February is slightly above the downwardly-revised December and January numbers. “Some green shoots are emerging that suggest that sequential growth will … Read more
LONDON (Reuters) – Saudi Aramco’s chief executive said on Tuesday the oil industry is facing “a crisis of perception” and the views of some observers that the end of oil is near with the rise of electric vehicles are illogical and not based on fact. Amin Nasser, CEO of the national oil company of the … Read more
February 26, 2019 | Source: Husky Energy Inc. CALGARY, Alberta, Feb. 26, 2019 (GLOBE NEWSWIRE) — This news release contains references to the non-GAAP financial measures “funds from operations”, “free cash flow”, “net debt”, “net debt to trailing funds from operations”, “EBITDA”, “operating netback” and “sustaining capital”. Please refer to “Non-GAAP Measures” at the end of this … Read more
Feb 26, 2019, by Tsuyoshi Inajima and Grant Smith (Bloomberg) Oil steadied after falling the most in almost a month on Monday, when President Donald Trump called on OPEC to temper prices. Futures traded above $55 a barrel in New York after sliding 3.1 percent on Monday. While crude is still about 25 percent below … Read more
Feb 26, 2019, by Lorcan Roche Kelly (Bloomberg) Attack, resignation and election Tensions between nuclear neighbors India and Pakistan are coming to the boil after India launched an air-strike on what it says was a terrorist training camp inside Pakistan. A government official in New Dehli said that more than 300 people were killed in … Read more
CALGARY — Husky Energy Inc. reported its fourth-quarter profit fell compared with a year ago as it was hit by lower synthetic crude oil prices and other factors.
The company says it earned $216 million or 21 cents per share for the quarter ended Dec. …
Feb 25 (Reuters) – U.S. energy regulators on Monday approved TransCanada Corp’s request to put part of the company’s $3.2 billion Mountaineer XPress natural gas pipeline in West Virginia into service: * Specifically, the U.S. Federal Energy Regulatory Commission (FERC) authorized TransCanada to commence service on about 21 miles (34 kilometers) of pipeline in Marshall … Read more
There are so many trade shows and conferences we would like to attend or exhibit at, but we don’t have the resources to make it to all of them! Luckily the Energy Connect is held entirely online and is just a click away! A rapidly changing business landscape calls for an innovative approach to business … Read more
Feb 25, 2019, by Grant Smith (Bloomberg) It’s becoming a familiar choice for OPEC: risk the pain of an oil-price slump, or provoke the wrath of President Donald Trump. After another warning on Twitter on Monday to avoid pushing crude higher, Saudi Arabia and fellow Organization of Petroleum Exporting Countries producers again are faced with … Read more
Feb 25, 2019, by Kelly Gilblom (Bloomberg) When a few hundred Royal Dutch Shell Plc shareholders piled into a Methodist church in Westminster for their 2018 annual meeting, they got a lot more than the usual free sandwiches and PowerPoint slides. As half a dozen pensioner activists hogged the microphones to warn of the dangers … Read more
CALGARY — The Alberta Energy Regulator has conditionally approved a tailings management plan for the Fort Hills oilsands mine despite its failure to meet milestones and reliance on an unproven reclamation method.
Tailings ponds store water used in the…
OTTAWA (Reuters) – Canada is talking to its partners about expanding sanctions on the Venezuelan government of President Nicolas Maduro, which is under growing pressure to step down, Foreign Minister Chrystia Freeland said on Monday. “We have put many of the senior leaders in the Maduro regime on our sanctions list. We are discussing with … Read more
February 25, 2019 Globe Newswire CALGARY, Alberta , Feb. 25, 2019 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to announce our planned 2019 capital expenditure budget, approved by the Company’s Board of Directors, which underspends forecast 2019 cash flow. With continued volatility and uncertainty in Canadian oil and … Read more
February 25, 2019 CNW Clearview acquires strategic light oil and natural gas assets in its west-central Alberta core area. Operated production addition of approximately 300 boe/d comprised of 53% light oil and natural gas liquids. 50% increase to Clearview’s existing, light oil prone, undeveloped land base. CALGARY, Feb. 25, 2019 /CNW/ – Clearview Resources Ltd. (“Clearview” or the “Company”) is pleased to announce the closing … Read more
February 25, 2019 PR Newswire CALGARY, Feb. 25, 2019 /CNW/ – TORC Oil & Gas Ltd. (“TORC” or the “Company”) (TSX: TOG) is pleased to announce financial and operating results for the three month periods and years ended December 31, 2018and 2017 and to provide 2018 year-end reserves information as evaluated by Sproule Associates Limited (“Sproule”). The associated Management’s Discussion … Read more
What can small and medium-sized upstream oil and gas companies do to take advantage of a more digital world, if anything? Digital innovation is often portrayed as the purview of only very large oil and gas concerns, who have the big budgets, large teams and ample resources to devote to digital. It’s time to challenge that image. … Read more
OTTAWA — Canada and its allies are well down the road to crafting a long-term, post-Maduro recovery plan for Venezuela’s disastrous economic decline, Foreign Affairs Minister Chrystia Freeland said Monday night
And she said Canada and its allies are l…
February 25, 2019 Reuters Oil fell by more than 2 percent on Monday, reversing earlier gains after U.S. President Donald Trump told OPEC producers to “relax” as prices were too high. Brent crude oil futures were down $1.43 at $65.69 a barrel at 1403 GMT, having earlier risen to a 2019 high of $67.47. West Texas … Read more
Employees in Calgary, Denver and Houston to lose jobs CBC News · Last Updated: February 22 Encana announced layoffs on Feb. 21. (The Canadian Press) Encana has confirmed layoffs in Calgary last Thursday, but did not provide numbers. “Following the close of our combination with Newfield, we are quickly integrating the two companies to capture efficiencies … Read more
ST. JOHN’S, N.L. — Environmentalists fearing the consequences of an oil spill in the Gulf of St. Lawrence, home to thousands of marine species, will have their say in court Monday.
Newfoundland and Labrador’s offshore regulator will be in court in St….
Monday, February 25th, 2019 by Aaron Wudrick, Federal Director When a recent convoy of trucks rolled into Ottawa, it kicked up a cloud of controversy, but one core issue at its heart: jobs. There are two sides to the jobs question. On one side, Prime Minister Justin Trudeau says he wants to build pipelines the energy sector … Read more
MEDIA RELEASE FOR IMMEDIATE RELEASE Friday, February 22, 2019 CALGARY – The Government of Canada must not impose anymore unnecessary delays to the construction of the Trans Mountain Pipeline, says the President of the Calgary Chamber. While encouraged by today’s public interest determination, Sandip Lalli says it is of vital importance to Canada’s natural resources … Read more
Feb 24, 2019, by Guy Johnson and Javier Blas (Bloomberg) The world’s largest energy trader says oil prices are set to rally further as OPEC output cuts and American sanctions on Iran and Venezuela cause a “shortage” of the low-quality heavy crudes refiners rely on. “From here there’s probably the potential to be a little … Read more
Feb 25, 2019, by Justin Fox (Bloomberg Opinion) Countries one through four on the list of the world’s biggest oil consumers in 2017 are pretty much who you’d expect them to be — the world’s four biggest economies. No. 5 is something else: Saudi Arabia has just 33 million people, less than one-fourth as many as … Read more
Feb 25, 2019 by Sharon Cho and Dan Murtaugh (Bloomberg) Oil prices could potentially rise as much as 13 percent from current levels, though the rally may prove fleeting, according to Goldman Sachs Group Inc. Top OPEC member Saudi Arabia is cutting output faster than U.S. shale drillers can fill the gap, leaving a void … Read more
Feb 25, 2019, by Lorcan Roche Kelly (Bloomberg) Trade extension President Donald Trump said that substantial progress in the trade talks with China means he will extend the deadline for the imposition of new tariffs on the country beyond the current cut-off of March 1. He also said he plans to meet China’s President Xi Jinping … Read more
Amid the mounting coverage of US activist foundations that provide financial support for anti-pipeline environmental groups in Canada, we should not lose sight of an important fact: the actions of these deep-pocketed American influencers negatively impacts many First Nations in Canada. To their credit, and with the help of some good, balanced Canadian reporting, more … Read more
CALGARY — A judge has dismissed the British Columbia government’s request to declare unconstitutional an Alberta law that could restrict the flow of refined oil products to B.C.
The attorney general of B.C. alleged in a statement of claim that the Pre…
Feb 25, 2019, by James Herron, Javier Blas and Grant Smith (Bloomberg) U.S. President Donald Trump resumed his attacks on OPEC, saying the world is too fragile to handle a price hike and urging the cartel to “relax and take it easy.” Trump’s war of words with the Organization of Petroleum Exporting Countries punctuated big … Read more
A step-by-step guide on applying a block-out decal to a pre-existing sign. This video contains helpful tips and tricks! Great for takeovers and updating existing signs with new decals!
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Energy Insights is a bi-monthly newsletter summarizing KPMG’s thought leadership pieces and featured events. This newsletter is intended to share ideas and provide insights on the current issues and emerging challenges that are shaping the energy industry. In this issue we cover: The Future of HR 2019: Oil & Gas Rapid technological evolution is changing … Read more
Feb 22, 2019, by Frederic Tomesco (Bloomberg) SNC-Lavalin Group Inc., the embattled Canadian builder at the heart of a political scandal that has reached into the prime minister’s office, has given up on settling corruption charges and is now focusing on preparation for a trial. “Our employees are being used as a puck in a … Read more
Feb 24, 2019, by Dinesh Nair, Matthew Martin and Anthony DiPaola (Bloomberg) KKR & Co. and BlackRock Inc. agreed to invest $4 billion in Abu Dhabi’s oil pipelines, securing two decades of guaranteed returns and providing the Middle Eastern energy producer a cash injection to help diversify its economy. Abu Dhabi National Oil Co. will … Read more
Feb 23, 2019 by Kevin Orland (Bloomberg) – Canadian energy regulators’ decision to recommend approval of the Trans Mountain oil pipeline expansion won applause from the project’s supporters, but they’re already pressing Justin Trudeau’s cabinet to give it the government’s official blessing in a timely manner. With the National Energy Board’s recommendation in hand, Trudeau’s … Read more
February 22, 2019 Reuters Oil prices touched more than three-month highs on Friday, supported by rising hopes that the United States and China would soon reach a deal to end their trade war, but new record U.S. oil production limited gains. U.S. West Texas Intermediate crude oil futures ended Friday’s session 30 cents higher at $57.26 … Read more
For Immediate Release: February 22, 2019 Today, the National Energy Board announced that the Trans Mountain Expansion Project is in the national interest and should be approved for construction. While the announcement is positive, CAODC is not optimistic it is meaningful, due to the project’s history of delays and the politicized nature of … Read more
CALGARY — A reconsidered National Energy Board report endorsing the expansion of the Trans Mountain pipeline suggests potential limits on whale-watching boats and noise reduction efforts for ferries that ply British Columbia’s Salish Sea.
The shipping…
The National Energy Board has endorsed an expansion of the Trans Mountain pipeline. If approved by Ottawa, the regulator says it will impose 156 conditions on the project. It has also made 16 new recommendations for the federal government.
1. Develop …
Today, the National Energy Board announced that the Trans Mountain Expansion Project is in the national interest and should be approved for construction. While the announcement is positive, CAODC is not optimistic it is meaningful, due to the project’s history of delays and the politicized nature of the federal approval process. “What we heard today—that … Read more
Canada’s drilling rig count decreased by 12 actively drilling rigs according to data collected by Baker Hughes for the week ending February 22, 2019. From one week ago, Alberta rig counts decreased 9 to 144 and the Saskatchewan rig counts stayed the same at 53. Oil drilling decreased 9 to 144 and gas decreased 4 … Read more
(Reuters) – U.S. energy firms this week cut the number of oil rigs operating for the first time in three weeks week after U.S. crude production hit an all-time high, boosting exports to a record high and stockpiles to their highest in over a year. Drillers cut four oil rigs in the week to Feb. … Read more
OTTAWA — Conservative Sen. David Tkachuk says he won’t apologize for comments he made at a pro-pipeline rally in Ottawa, calling criticism that he was inciting violence “manufactured outrage.”
Tkachuk spoke Tuesday to the United We Roll convoy, which …
February 22, 2019 CNW CALGARY, Feb. 22, 2019 /CNW/ – Enerplus Corporation (“Enerplus” or the “Company”) (TSX & NYSE: ERF) today reported fourth quarter 2018 cash flow from operating activities of $221.6 million and fourth quarter 2018 net income of $249.3 million, or $1.03 per share. ANNUAL HIGHLIGHTS: 22% liquids production growth year-over-year 44% increase in adjusted funds flow year-over-year Generated free cash flow … Read more
CALGARY, Alberta, Feb. 21, 2019 (GLOBE NEWSWIRE) — Enerflex Ltd. (TSX:EFX) (“Enerflex” or “the Company” or “we” or “our”), a leading supplier of products and services to the global energy industry, today reported its financial and operating results for the three and twelve months ended December 31, 2018. Summary Table of Fourth Quarter and Twelve … Read more
February 21, 2019 Globe Newswire CALGARY, Alberta, Feb. 21, 2019 (GLOBE NEWSWIRE) — Kelt Exploration Ltd. (TSX:KEL) (“Kelt” or the “Company”) is pleased to report on its oil & gas reserves and production for the year ended December 31, 2018. [Kelt’s audit of its 2018 annual consolidated financial statements has not been completed and accordingly all … Read more
Calgary Rally Today Calgary, AB: Rally 4 Resources and Canada Action will be organizing a rally on Friday, February 22 at 10:00 AM in support of Trans Mountain for NEB announcement. “The Trans Mountain has support from a majority of First Nations along the route, from Premiers and Canadians across the country. The … Read more
Feb 22 (Reuters) – SNC Lavalin reported a C$1.6 billion quarterly loss and cut its dividend on Friday, as Canadian engineering firm’s oil and gas business faces intensifying trade challenges in Saudi Arabia. SNC, which has engineering contracts with firms in Saudi Arabia, has been caught in the crosshairs of a strained relationship … Read more
Feb 22, 2019, by Bloomberg News (Bloomberg) Saudi Arabia reaffirmed its interest in the Chinese market with a deal to build a $10 billion refining and petrochemicals complex as it vies for crude-oil customers with fellow OPEC members and Russia. Saudi Arabian Oil Co., or Aramco, agreed to set up a joint venture with two … Read more
Feb 22, 2019, by Sharon Cho and Grant Smith (Bloomberg) Oil headed for a second weekly increase as the U.S. and China worked on resolving their trade impasse, and as output cuts by OPEC and its allies balanced surging American supply. Futures in New York edged higher Friday, taking this week’s increase to 2.7 percent. … Read more
Feb 22, 2019, by Lorcan Roche Kelly (Bloomberg) Trump meets Liu He President Donald Trump is scheduled to meet China’s top trade negotiator this afternoon during the current round of U.S.-China negotiations in an attempt to forge a preliminary agreement on trade ahead of the March 1 deadline for the imposition of new tariffs. That the meeting is … Read more
CALGARY — An environmental group that tried to widen the scope of the National Energy Board’s reconsideration of the Trans Mountain pipeline expansion says it fully expects the board to endorse the project again in its ruling today.
“I think the NEB h…
The head of Canadian Pacific Railway Ltd. has voiced his displeasure at the idea of Alberta’s $3.7-billion deal with Canada’s two biggest rail companies to ship more crude via rail amid a pipeline crunch squeezing oilsands producers.
“So the governmen…
February 21, 2019 Cenovus Energy is pressing ahead with aggressive plans to transport more crude by rail, contrasting itself with peers who have hit the brakes, as the Canadian oil producer bets that pipeline bottlenecks are likely to return. Pipeline congestion depressed Canadian oil prices last year, prompting Cenovus and other producers to increase their … Read more
CALGARY, AB: The Canadian Taxpayers Federation is calling for all Alberta political parties to support holding a referendum on equalization with the 2019 provincial election. “The status quo is not acceptable, Alberta taxpayers and politicians both agree equalization needs reform,” said Franco Terrazzano, Alberta Director for the CTF. “One way to force the federal government to … Read more
February 21, 2019 CNW CALGARY, Feb. 21, 2019 /CNW/ – Keyera Corp. (TSX:KEY) (“Keyera”) announced its year end 2018 financial results today, the highlights of which are included in this news release. The entire news release can be viewed by visiting Keyera’s website at www.keyera.com, or, to view the MD&A and financial statements, visit either Keyera’s website or Keyera’s … Read more
February 21, 2019 Pembina reports record setting annual results following full year contribution from strategic acquisition of Veresen and portfolio of growth projects. All financial figures are in Canadian dollars unless noted otherwise. CALGARY, Feb. 21, 2019 /CNW/ – Pembina Pipeline Corporation (“Pembina” or the “Company”) (TSX: PPL; NYSE: PBA) announced today its financial and operating results for the … Read more
February 21, 2019 Globe Newswire CALGARY, Alberta, Feb. 21, 2019 (GLOBE NEWSWIRE) — Zargon Oil & Gas Ltd. (the “Company” or “Zargon”) (TSX SYMBOL: ZAR) announces the appointment of Glenn Koach to the Board of Directors effective February 21, 2019. Mr. Koach is currently Co-Founder/Portfolio Manager of Concise Capital Management, LP. (“Concise”). Concise is an SEC-registered … Read more
Deadline to register is 5 pm MT, February 22. Don’t delay! Come out to a book signing for the successful launch of ‘’. Written by Geoffrey Cann and Rachael Goydan, this new book describes the impact that digital innovation is having on oil and gas, and how successful companies are embracing digital in their businesses. It has achieved Best Seller status in both Canada and the US in the energy categories. Location: … Read more
Wood has been awarded an $8million contract by ADNOC Refining to deliver pre-front end engineering and design (pre-FEED) for a new refinery in Ruwais, in the western region of the Emirate of Abu Dhabi, which is set to become the world’s largest refining and petrochemicals complex. The award is for a state-of-the-art refinery with a … Read more
CALGARY — A 40 per cent decline in revenue in the fourth quarter due to a steep downturn in drilling activity in Western Canada resulted in 160 lost jobs at Calgary-based Trican Well Service Ltd.
The well completion company posted $5.1 million in seve…
February 21, 2019 Globe Newswire CALGARY, Alberta, Feb. 21, 2019 (GLOBE NEWSWIRE) — Kelt Exploration Ltd. (TSX:KEL) (“Kelt” or the “Company”) is pleased to report on its oil & gas reserves and production for the year ended December 31, 2018. [Kelt’s audit of its 2018 annual consolidated financial statements has not been completed and accordingly all … Read more
CALGARY, Feb. 20, 2019 /CNW/ – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) is pleased to report very strong total reserve growth, liquids reserve growth and a continued reserve value increase in the current depressed natural gas price environment. The Company executed on the 2017-2018 plan to concentrate almost entirely on internal EP growth and has … Read more
CALGARY, Alberta, Feb. 20, 2019 (GLOBE NEWSWIRE) — Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE), a company focused on oil exploration and production in Colombia, announced today it has entered into agreements with private companies (the “Vendors”) to acquire the Vendors’: Working interest (“WI”) in and operatorship of the Suroriente Block (“Suroriente”), which would increase Gran … Read more
Feb 21, 2019, by Sharon Cho and Grant Smith (Bloomberg) Oil extended gains from a three-month high as industry data signaled a limited increase in American crude stockpiles, and on signs that the U.S. and China are moving closer to a trade deal. Futures rose 0.7 percent in New York. The American Petroleum Institute was … Read more
Feb 21, 2019, by Firat Kayakiran (Bloomberg) They are slowly plowing their way across thousands of miles of ocean toward America’s Gulf of Mexico coastline. As they do, twelve empty supertankers are also revealing a few truths about today’s global oil market. In normal times, the vessels would be filled with heavy, high sulfur Middle … Read more
EDMONTON — Opposition Leader Jason Kenney says if he wins the spring election, he will try to cancel Alberta’s $3.7-billion deal with Canada’s two largest railways to ship more oil by rail.
“This (deal) is a catastrophic mistake by the NDP,” Kenney to…
MEXICO CITY/MOSCOW/LONDON (Reuters) – Venezuela is paying heavy premiums for fuel imports from Russia and Europe, with fewer than a dozen sellers seeing the risk as worth the reward after flows from the United States dried up because of sanctions, trading sources said and data showed. The South American nation exports crude but its refineries … Read more
Feb 21, 2019, by Lorcan Roche Kelly (Bloomberg) A little growth Data from IHS Markit this morning showed that the euro area’s private sector barely expanded in February, with a composite PMI for the region coming in at 51.4. That expansion was almost exclusively driven by the services sector, with manufacturing PMI for Germany slowing … Read more
Feb 20, 2019, by Lynn Thomasson and Thomas Biesheuvel (Bloomberg) Behind Glencore Plc’s decision to limit coal investment is a little-known, but powerful group of investors. Glencore made its decision after facing pressure from a shareholder network known as Climate Action 100+, which has the backing of more than 300 investors managing $32 trillion. The … Read more
By Jennifer Runyon (Renewable Energy World) This week independent power producer Marubeni and LO3 Energy said they have started a pilot project in Japan where LO3 will administer an energy marketplace using blockchain to connect a number of Marubeni’s power production facilities, including renewables, with offices and factories around Japan in a virtual marketplace. The … Read more
Feb 20 (Reuters) – Alberta’s provincial government said on Wednesday it had committed C$80 million in credits against future royalties for Nauticol Energy’s planned C$2-billion methanol plant near Grande Prairie. Methanol is produced from natural gas, which Alberta has in abundance and that producers sell at some of the world’s lowest prices. It is used … Read more
TORONTO — The CEOs of Canada’s largest bank and its largest pipeline company say the country needs an energy strategy that will better balance environmental and Indigenous goals with the need to develop its abundant oil and gas resources.
But Royal Ba…
February 20, 2019 Reuters Berkshire Hathaway Inc’s re-investment in Suncor Energy Inc highlights the benefits of being an integrated oil company and could revive investor interest in the languishing Canadian energy sector, fund managers said.The move is also seen by some as a wager the energy sector could benefit from a change in the guard in … Read more
OTTAWA — A diminished version of the United We Roll convoy left Ottawa Wednesday afternoon, words of support from one more Conservative MP trailing behind.
“Listen, we stand together united as a country,” Lethbridge MP Rachael Harder told the crowd. “…
CALGARY, Alberta – February 19, 2019 – Raise Production Inc. (TSX-V: RPC) (“Raise” or the “Company”) announces receiving a USA PATENT Notification of Allowance for its High Angle Reciprocating Pump (HARPTM). High Angle Reciprocating Pump (HARPTM) The Company is pleased to announce that it will be receiving the system and device patent consisting of 12 … Read more
VERMILION, Alta. — RCMP say an attempted theft at an oilfield site in east-central Alberta resulted in a leak of crude oil effluent.
Mounties say someone trying to steal copper wire at the site near Vermilion on Friday night caused extensive damage to…
GRANDE PRAIRIE, Alta. — Alberta is giving $80 million in future royalty credits for construction of a new methanol plant in the province’s northwest.
Premier Rachel Notley says Nauticol Energy is to start construction on the $2-billion plant near Gran…
CALGARY — The National Energy Board says crude-by-rail exports from Canada reached a record high in December.
Canada exported nearly 354,000 barrels per day of oil, up seven per cent from November’s total of 330,400 bpd and the 152,000 bpd moved in De…
CALGARY — Another foreign oil company says it’s getting out of the Canadian oilsands.
Oklahoma City-based Devon Energy Corp. says it will pursue the “separation” of its Canadian assets from its core business, a move that could include an outright sale…
Presents James Cairns – Vice President of Petroleum and Chemicals at CN Rail As the Alberta Government adjusts their crude by rail initiative, what strategies can make the economics of rail make sense within a narrower price differential? Until pipelines are approved and in place, rail is needed by Industry. Is it time for the … Read more
CALGARY, Alberta, Feb. 20, 2019 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX: SFD; OTC QB: NSFDF) is pleased to announce it has entered into a binding commercial and co-operation agreement (“Agreement”) with one of its largest shareholders, Alberta Green Ventures Limited Partnership (“AGV”), to conduct up to three SFD® surveys … Read more
LONDON (Reuters) – A monitoring committee for an OPEC and non-OPEC oil supply reduction deal found compliance with the cuts at 83 percent, four delegates from the group told Reuters on Wednesday. The Organization of the Petroleum Exporting Countries and several other exporters led by Russia have agreed to cut oil production by 1.2 million … Read more
NEW YORK (Reuters) – U.S. oil output from seven major shale formations is expected to rise 84,000 barrels per day (bpd) in March to a record of about 8.4 million bpd, the U.S. Energy Information Administration said in a monthly report on Tuesday. The largest change is forecast in the Permian Basin of Texas and … Read more
Feb 20, 2019, by Grant Smith and Heesu Lee (Bloomberg) Oil held near a three-month high as investors weighed OPEC’s production cuts against estimates of rising crude inventories in the U.S. Futures fell by 0.4 percent in New York, after gaining around 7 percent since Feb. 11. U.S. crude stockpiles probably increased for a fifth … Read more
Feb 20, 2019, by Lorcan Roche Kelly (Bloomberg) Fed record In January, the FOMC famously signaled a big dovish shift. At 2:00 p.m. Eastern Time today, the minutes of the meeting are released that should shed light on the decision to drop a promise for “some further gradual increases” from the policy outlook. Federal Reserve Bank of Cleveland President … Read more
Feb 19, 2019, by Kevin Orland and Robert Tuttle (Bloomberg) Alberta is preparing a giant crude-by-rail operation to help its oil-sands producers cope with a pipeline crunch, and it expects a big profit from the venture. The Canadian province, which holds the world’s third-largest crude reserves, plans to net C$2.2 billion ($1.7 billion) after investing … Read more
Feb 20, 2019, by Robert Tuttle (Bloomberg) Heavy Canadian crude prices widened to the biggest discount against New York futures this year as pipeline-operator Enbridge Inc. reported that rationing on its heavy oil lines would increase next month. Western Canadian Select, an oil sands benchmark, traded at $15 a barrel below West Texas Intermediate futures … Read more
Each week, XI Technologies scans their unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. This week’s article is by XI’s QA and Support Specialist, Kathy, who also happens to hold a Certified Insurance Professional designation. If you’d like Wednesday Word to the Wise … Read more
dmg events and New West Public Affairs are proud to announce the details for the first stop in our “Global Petroleum Show Election 2019 Dialogues ” media panels leading up to the 51st Edition of the 2019 Global Petroleum Show, North America’s leading energy event, hosted annually in Calgary. On Thursday, February 26, join us … Read more
JOB POSTING FOR: Petroleum Engineering Technologist Oil Specialist, located in Red Deer, AB Position Summary: Premier Integrated Technologies is an Optimization Company focused on helping producers to achieve maximum netbacks on their existing oil and gas wells. In addition, PIT offers Annual Regulatory and Environmental testing field services and reporting service to Oil and Gas … Read more
February 19, 2019 TransCanada Corp restarted a section of the Keystone oil pipeline on Tuesday, following a leak in Missouri earlier this month, company spokesman Terry Cunha said.TransCanada had shut an arm of Keystone from Steele City, Nebraska to Patoka, Illinois on Feb. 6 after leaking 43 barrels of crude oil. The shutdown restricted the … Read more
Save with Early Bird Pricing – Registration Now Open With nearly 30% more abstract submissions as 2018, the GeoConvention 2019 program is coming together very nicely, showcasing some of the brightest minds and thought leaders within the Geosciences. Register now and save up to $200 with Early Bird Pricing. www.geoconvention.com/registration Join us as an Exhibitor or … Read more
CALGARY — The National Energy Board is rejecting a call made by an environmental group last month to greatly expand the scope of its reconsideration of the Trans Mountain pipeline expansion.
Stand.earth filed a motion to the federal regulator on Jan. …
BURNABY, B.C. — Federal NDP Leader Jagmeet Singh is facing calls from within the party for a stronger stance on climate change as he defends his support of the $40-billion LNG Canada project in northern British Columbia.
Svend Robinson, the New Democr…
ST. CHARLES, Mo. — A segment of the Keystone pipeline that was shut down in early February when a leak was discovered in Missouri is now back in service.
Terry Cunha of pipeline operator TransCanada Corp. says the segment from Steele City, Nebraska, t…
ST. LAZARE, Man. — Federal investigators say CN railcars that spilled crude after derailing on farm land in western Manitoba were upgraded tankers.
The Transportation Safety Board says 37 of 110 cars went off the tracks early Saturday near St. Lazare….
EDMONTON — Alberta Premier Rachel Notley says the province is spending $3.7 billion to move landlocked oil to market by rail — and it isn’t counting on Ottawa to pitch in.
“We must take action today to provide more relief to our energy workers and the…
February 19, 2019 CNW CALGARY, Feb. 19, 2019 /CNW/ – Pulse Oil Corp. (“Pulse” or the “Company”) (TSX-V: PUL and PUL.WT) is happy to announce that the Company intends to drill two new wells within the Bigoray EOR acreage in February and March 2019. Pulse’s independent geotechnical modelling, as announced on January 30, 2019, has unexpectedly increased the initial amount of estimated … Read more
HALIFAX — A proposed liquefied natural gas project says it has signed agreements with the Assembly of Nova Scotia Mi’kmaq Chiefs, the Nova Scotia Construction Labour Relations Association, and unions in Cape Breton.
Bear Head LNG says the mutual benef…
OTTAWA — A convoy of angry Albertans and other westerners rolled up to Parliament Hill today to protest federal energy and environmental policies.
Scores of people gathered in knee-deep snow on the Hill lawn in advance of morning speeches amid concern…
By Jennifer Runyon (Renewable Energy World) The 2019 Sustainable Energy in America factbook was released this week by Bloomberg New Energy Finance (BloombergNEF) and the Business Council for Sustainable Energy (BCSE). The factbook highlights a number of key trends in sustainable and renewable energy growth, emissions and jobs in the sector. Take a glance at … Read more
February 18, 2019 Source: TransGlobe Energy Corporation CALGARY, Alberta, Feb. 18, 2019 (GLOBE NEWSWIRE) — TransGlobe Energy Corporation (“TransGlobe” or the “Company”) announces an addition to the executive management team and recent management appointments. EXECUTIVE MANAGEMENT ADDITION Following a robust executive search, the Company is very pleased to announce that Geoffrey (Geoff) Probert has accepted an … Read more
By David Yager The climate change debate has moved well beyond scientists, environmentalists and politicians to include money. Big money. The opponents of fossil fuels have undertaken a multi-pronged attack on carbon’s capital. For years they have pushed to make it morally reprehensible to own shares in fossil fuel companies, loan them money, or purchase … Read more
(Reuters) – Canadian National Railway Co on Monday said its environmental experts are continuing the clean-up of a site in Western Canada where one of its trains derailed on Saturday. Thirty-seven tank cars derailed near St-Lazare, Manitoba, close to Assiniboine River, leaking an undetermined volume of crude oil. None of the crude oil entered the … Read more
Feb 19, 2019, by Lorcan Roche Kelly (Bloomberg) More talks Talks between China and the U.S. toward a trade agreement restart in Washington today, with Vice Premier Liu He scheduled to meet U.S. Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin on Feb. 21-22. Steve Censky, the Department of Agriculture’s Deputy Secretary, said at an industry conference … Read more
Feb 18, 2019, by Mikael Holter (Bloomberg) There’s only so much you can do to make oil and gas production cleaner. That was a key realization behind Royal Dutch Shell Plc’s decision to set targets to reduce greenhouse-gas emissions not just from its own operations, but also from the products it sells which are consumed … Read more
A Commentary by Wendy Ferguson Guess what? 3 out of 4 of your current employees are either actively seeking another job opportunity or they would consider a new position if they were approached. This finding from a recent Ceridian survey is unsurprising to me. Why? Because of what I see and don’t see every … Read more
Feb 16, 2019, by Julian Lee (Bloomberg Opinion) I know a little bit about standing on one leg; my daughter has encouraged me to learn to water ski. It’s not easy at my age, in England, in winter. OK, I’m actually on two legs, but they are on one ski. I tend to wobble a lot … Read more
by Chad Ford As the President and founder of a software company which has been used by over 500 energy and infrastructure projects across North America, it is with frustration that I look at the collapse of the energy sector in Western Canada. The Canadian energy sector is under attack like never before … Read more
Feb 19, 2019, by Sharon Cho and Grant Smith (Bloomberg) Oil held near a three-month high in New York as OPEC’s production cuts allayed concerns of a renewed surplus, while prospects for a resolution to the U.S.-China trade war supported the outlook for demand. Futures rose 0.7 percent from their close on Friday, when they … Read more
Feb 19, 2019, by Jen Skerritt and Ashley Robinson (Bloomberg) At least one conservative party premier in Canada is willing to work with Prime Minister Justin Trudeau on his controversial new carbon tax. While conservative leaders in Ontario, Alberta and Saskatchewan have pledged to fight the levy, Manitoba Premier Brian Pallister says he’s open to … Read more
Utility and service providers have long seen the value in providing rewards and rebates to their end users, often to encourage them to take advantage of energy-efficient products and in-home services. These incentives can serve two purposes—encourage energy program participation, and create a positive customer experience that leaves consumers feeling satisfied. While today’s utility programs … Read more
Click here to see the specifications for Ammonia Co-Injection Skid, 120″ X 35ft 85m3 Bullet About Marketplace by IronHub Markeplace by IronHub is North America’s leading surplus collaboration tool. Source, connect and save – all in one place. Visit: marketplace.theironhub.com
By Renewable Energy World Editors This week, Canadian Solar said that it has won three solar power contracts with Alberta’s Ministry of Infrastructure, for a total of 94 megawatts (MWp) of solar power system in southeast Alberta, with an average contracted PPA price of 48.05 Canadian dollars [US 36.27] per MWh. When in operation in … Read more
THE CANADIAN PRESS Updated: February 18, 2019 OTTAWA — Gerald Butts, Justin Trudeau’s principal secretary and long-time friend, has resigned amid allegations that the Prime Minister’s Office interfered to prevent a criminal prosecution of SNC-Lavalin. In a statement, Butts unequivocally denies the accusation that he or anyone else in the office improperly pressured former attorney … Read more
THE HAGUE, Netherlands — A Dutch company has been convicted of illegally exporting to Iran gas turbine parts that could be used in the manufacture of weapons.
A court in the southern province of Limburg convicted Euroturbine BV on Monday of setting up…
PORTLAND, Ore. — A Portland petroleum terminal is significantly expanding its capacity to unload rail cars, a move that sets the stage to more than double the number of oil trains along the Columbia and Willamette rivers into Oregon’s biggest city, OP…
ST-LAZARE, Man. — CN has apologized to a Manitoba rancher after one of its trains derailed and spilled oil on his land.
A company spokesman says CN vice-president Sean Finn has spoken directly with Jayme Corr about how to fix any damage resulting from…
OTTAWA — Hundreds of trucks are expected to roll into Ottawa Tuesday to protest the federal government’s policies on the oil industry.
The main portion of the United We Roll Convoy set out from Red Deer, Alta., last Thursday and made stops in Regina, …
ANACLA, B.C. — A Vancouver Island First Nation says a Vancouver-based liquefied natural gas company has pulled out of a planned LNG development just months after it was announced as a major milestone.
In an open letter, Huu-ay-aht Chief Robert Dennis …
EDMONTON — Dozens of oilsands environmental impact studies are marred by inconsistent science that’s rarely subjected to independent checks, says a university study.
“It doesn’t make any sense,” says University of British Columbia biology professor …
CALGARY — Connacher Oil and Gas Ltd. says it has abandoned a court-supervised sale of the company to East River Oil and Gas Ltd. after the buyer failed to make a required deposit payment by Feb. 15.
The Calgary-based oilsands producer had negotiated a…
ST-LAZARE, Man. — Canadian National Railway says it doesn’t yet know how much oil leaked from a derailment in western Manitoba, but it says trains are now running on the line again.
The railway said Saturday there was “a partial leak” of crude south o…
February 16, 2019 CNW CALGARY, Feb. 16, 2019 /CNW/ – Connacher Oil and Gas Limited (“Connacher” or the “Company”) previously announced that it had entered into a CCAA Acquisition and Plan Sponsorship Agreement with East River Oil and Gas Ltd. (“Plan Sponsor”) dated August 2, 2018, as amended (the “Plan Sponsorship Agreement”) and entered into a Purchase and Sale … Read more
Feb 16, 2019, by Kevin Orland (Bloomberg) TransCanada Corp. was partly denied a request to continue some pre-construction work on the Keystone XL oil pipeline while a dispute over the project’s environmental review wends its way through the courts. The company won’t be allowed to prepare sites for construction camps, but it will be allowed to … Read more
OTTAWA — Canada’s energy regulator will tell the federal government this week whether it still thinks the Trans Mountain pipeline should be expanded, but cabinet’s final say on the project’s future is still several months away.
The National Energy Boa…
Energy efficiency made quick and easy. Custom Energy Solutions has introduced Simplified Custom Measures to help facilities make energy-efficient upgrades quicker and easier than before. Custom Energy Solutions has a wide variety of measures and offerings focused on the commercial and industrial sector. But, identifying energy saving opportunities through a scoping audit or engineering study … Read more
Canada’s drilling rig count decreased by 16 actively drilling rigs according to data collected by Baker Hughes for the week ending February 15, 2019. From one week ago, Alberta rig counts decreased 6 to 153 and the Saskatchewan rig counts decreased 4 to 53. Oil drilling decreased 6 to 152 and gas decreased 10 to … Read more
ST-LAZARE, Man. — A train carrying oil has derailed and is leaking in Manitoba.
Canadian National Railway says in a statement that 37 cars carrying crude left the tracks early Saturday morning near St-Larare, which is east of the Saskatchewan-Manitoba…
HOUSTON, B.C. — Coastal GasLink says it has suspended pipeline work south of Houston, B.C., while claims of the discovery of Indigenous artifacts on the site are investigated.
The company says it has cordoned off the area, requested that a qualified a…
MOOSOMIN, Sask. — Conservative leaders from across Canada rallied Saturday against Prime Minister Justin Trudeau and Bill C-69.
The premiers of Saskatchewan and New Brunswick joined Conservative leader Andrew Scheer on a panel of speakers at the event…
by Liam Denning (Bloomberg Opinion) Warren Buffett showing up in your share register can be a bittersweet affair. It confers a certain halo around your stock but also brings confirmation that it had gone to a dark place indeed. Such is the way to read Berkshire Hathaway Inc.’s just-disclosed stake in Suncor Energy Inc. Understanding … Read more
Feb 15, 2019 by Michelle Kim (Bloomberg) Oil rose to the highest level this year as Saudi Arabia curtailed output at its largest offshore field and amid signals of a thaw in U.S.-China trade tensions. Futures in New York advanced 2.2 percent Friday. Saudi Arabia was said to trim supply from its giant Safaniyah field … Read more
MEXICO CITY — Mexican President Andres Manuel Lopez Obrador announced a $3.9 billion bailout for the country’s cash-strapped, state-owned oil company Friday and promised it an additional $1.6 billion in revenue, making it a rescue package of up to $5….
(Reuters) – U.S. energy firms this week increased the number of oil rigs operating for a second week in a row amid concerns that crude supplies will swamp global demand as U.S. output keeps growing from record levels. Companies added three oil rigs in the week to Feb. 15, bringing the total count to 857, … Read more
CALGARY — Inter Pipeline Ltd. says an increase in natural gas liquids processing volumes and revenue was the major driver behind higher earnings in the fourth quarter.
The Calgary-based energy transport, processing and storage company says it had net …
CALGARY — Enbridge Inc. says full oil and gas pipelines and the addition of new services led to fourth-quarter earnings that beat analyst expectations.
Canada’s largest pipeline operator says adjusted net income was $1.17 billion or 65 cents per share…
Feb 14, 2019, by Christopher Martin (Bloomberg) The world’s largest battery could soon be storing solar energy deep in the heart of Texas oil country. The 495-megawatt storage system would be built in tandem with a solar farm of the same size in Borden County, Texas. The Electric Reliability Council of Texas Inc., which operates … Read more
Feb 15, 2019, by Chris Reiter and Brian Parkin (Bloomberg) Volkswagen AG plans to save 1 million tons of carbon-dioxide emissions a year by making production of its first electric model carbon neutral, part of an effort to clean up its image in the aftermath of the diesel-cheating scandal. The German automaker will use green … Read more
ST. JOHN’S, Newfoundland and Labrador, Feb. 15, 2019 (GLOBE NEWSWIRE) — Fortis Inc. (TSX/NYSE:FTS) Highlights Strong annual 2018 net earnings of $2.59 per common share Deployed record capital expenditures of $3.2 billion at its utilities in 2018 Five-year capital expenditure plan of $17.3 billion, up 20% over the prior year’s plan Issued first sustainability report, … Read more
CALGARY, Feb. 15, 2019 /CNW/ – Enbridge Inc. (TSX:ENB) (NYSE:ENB) has filed its Form 10-K for the year ended December 31, 2018, with the United States Securities and Exchange Commission. Enbridge has also filed its audited Consolidated Financial Statements and related Management’s Discussion and Analysis for the year ended December 31, 2018, with Canadian securities … Read more
* Thermal coal and LNG supply hits multi-year highs in January * Demand outlook from power generation tepid short and longer term * Falling coal & LNG prices: tmsnrt.rs/2EcWpdv * Rising coal & LNG supply: tmsnrt.rs/2BAqzFL By Henning Gloystein and Nina Chestney SINGAPORE/LONDON, Feb 15 (Reuters) – Thermal coal and natural gas prices are tumbling, … Read more
CALGARY, Alberta, Feb. 14, 2019 (GLOBE NEWSWIRE) — Peyto Exploration & Development Corp. (“Peyto” or the “Company”) is pleased to present the results and analysis of its independent reserve report effective December 31, 2018. The evaluation encompassed 100% of Peyto’s reserves and was conducted by InSite Petroleum Consultants (“InSite”). The year 2018 marks the Company’s … Read more
Feb 15, 2019, by Lorcan Roche Kelly and Cecile Gutscher (Bloomberg) Shutdown, emergency President Donald Trump is expected to sign Congress’s compromise funding bill later today, while at the same time making use of his executive powers to declare an emergency at the border to unilaterally shift about $7 billion of federal funds towards construction … Read more
HOUSTON (Reuters) – Drilling curbs by oil producers in the largest U.S. shale field will continue until transport bottlenecks ease and investors stop punishing companies for increasing capital spending, executives at an energy conference said on Thursday. The price of crude in the Permian Basin of West Texas and New Mexico fell sharply last year, … Read more
Feb 15, 2019, by Tsuyoshi Inajima and Grant Smith (Bloomberg) Oil headed for its biggest weekly gain in a month as the OPEC+ coalition’s supply cuts and reduced output from the world’s biggest offshore field overshadowed renewed concern over the U.S.-China trade war. Futures in New York were steady on Friday, and have increased 3.3 … Read more
<div class=”hide-on-mobile”>[adrotate banner=”347″]</div> <div class=”hide-on-desktop”>[adrotate banner=”348″]</div> (Reuters) – Enbridge Inc, Canada’s largest pipeline operator, topped analysts’ estimates for quarterly profit on Friday, as it moved more crude oil and refined products along its pipelines. The Calgary, Alberta-based company said it transported 2.7 million barrels per day (bpd) of crude oil on its Mainline system across … Read more
CALGARY — From a computer in his downtown office, Jeremy Bernard calls up live video of an oil well site in rural Alberta, clicking to bring up a cluster of small buildings, then a gravel road that leads across snowy pasture. The picture is sharp and the camera can detect motion. But its monitoring effectiveness … Read more
TORONTO/WINNIPEG, Manitoba (Reuters) – Warren Buffett’s Berkshire Hathaway Inc said on Thursday it had taken a fresh stake in Suncor Energy Inc for the second time in about six years, sending the U.S.-listed shares of the energy major up 4 percent in after-market trading. Suncor, Canada’s biggest oil and gas company, is considered one of … Read more
CALGARY — From a computer in his downtown office, Jeremy Bernard calls up live video of an oil well site in rural Alberta, clicking to bring up a cluster of small buildings, then a gravel road that leads across snowy pasture.
The picture is sharp and …
Feb 14, 2019, by Anna Shiryaevskaya (Bloomberg) A $7.5 billion liquefied natural gas project in East Canada focused on Europe is seeking to get the go-ahead this year. Pieridae Energy Ltd. is targeting the milestone known as a final investment decision after having lined up buyers for the fuel, mainly in Europe. If approved it … Read more
OMAHA, Neb. — Billionaire Warren Buffett’s company has taken a new stake in Canadian firm Suncor Energy and trimmed its huge Apple stake.
Berkshire Hathaway Inc. filed a quarterly update on holdings with the Securities and Exchange Commission on Thurs…
FRANKFORT, Ky. — A federal utility board voted Thursday to close a coal-fired power plant in Kentucky, rejecting pleas from President Donald Trump and U.S. Senate Majority Leader Mitch McConnell and handing the coal industry a defeat in its backyard.
…
CALGARY, Alberta, Feb. 14, 2019 (GLOBE NEWSWIRE) — (Canadian dollars except as indicated) This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” … Read more
CALGARY, Alberta, Feb. 14, 2019 (GLOBE NEWSWIRE) — TransCanada Corporation (TSX, NYSE: TRP) (TransCanada or the Company) today announced net income attributable to common shares for fourth quarter 2018 of $1.1 billion or $1.19 per share compared to net income of $0.9 billion or $0.98 per share for the same period in 2017. For the … Read more
LONDON (Reuters) – Oil rose for a third day on Thursday to reach its highest so far this year as financial markets drew support from investor optimism that the United States and China could resolve their trade dispute. The price of crude has risen 20 percent this year, driven primarily by the prospect of a … Read more
Feb 14, 2019, by Michelle Kim and Serene Cheong (Bloomberg) Some of the world’s dirtiest and densest crudes traditionally spurned for being too difficult to process are having a moment in the sun, with a little help from Donald Trump. “Heavy-sour” oil from nations such as Venezuela and Iraq have a higher sulfur content and … Read more
Feb 14, 2019, by Julian Lee (Bloomberg) Even as oil producing states in OPEC and beyond begin implementing the output cuts they agreed in December, the world’s need for their crude is shrinking further, suggesting that they will need to extend the deal through the second half of the year. The latest forecasts from supply-and-demand … Read more
Feb 13, 2019, by Frederic Tomesco (Bloomberg) If a mine dispute were all that SNC-Lavalin Group Inc. had to worry about, Chief Executive Officer Neil Bruce might be looking forward to next week’s earnings report with some equanimity. As it stands, the Canadian engineering giant is being rocked by a political controversy that’s embroiled Prime … Read more
CALGARY — Precision Drilling Corp. reported a loss of $198.3 million in its fourth quarter as it was hit by $208 million in goodwill impairment charges.
The oilfield services company says the loss amounted to 68 cents per diluted share for the quarter…
Feb 14, 2019, by Samuel Potter (Bloomberg) Scheduling more couples therapy Five Things is shocked – shocked! – to see upbeat China export data arrive just as trade talks with the U.S. reach crunch time. Leaders in Beijing, from where the numbers originate, must be counting their lucky stars after this fortuitous turn of events, apparently caused by companies front-running the … Read more
CALGARY — TransCanada Corp. raised its dividend as it reported its fourth-quarter profit rose compared with a year ago.
The pipeline company says it will now pay a quarterly dividend of 75 cents per share, up from its previous payment of 69 cents per …
Feb. 13, 2019 REGINA, SK: The Canadian Taxpayers Federation opposed the carbon tax in the Saskatchewan Court of Appeal today. “Carbon taxes will cost Canadians a lot of money without helping the environment and our lawyers made strong arguments on behalf of taxpayers in court today,” said Todd MacKay, the CTF’s Prairie Director. “We applaud the … Read more
CALGARY — Drilling companies continue to move rigs from Western Canada to the more active oilfields of the southern United States.
Calgary-based Western Energy Services Corp. says it moved a drilling rig from Canada to the U.S. Permian Basin oil play …
Feb 13, 2019, by Kevin Orland (Bloomberg) Cenovus Energy Inc. is forging ahead with plans to expand its rail shipments of crude to U.S. refiners, even as some peers dial back, in a bet that pricing for Canadian heavy crude will soon shift to make those shipments more economical. Chief Executive Officer Alex Pourbaix said … Read more
by Natalie Obiko Pearson and Ed Ludlow (Bloomberg) It’s all-electric like a Tesla. It’s priced like a Ford Fiesta. It’s one of the oddest-looking vehicles you’ve ever seen — and it may just redefine the commuter car. As General Motors Co. prepares to shut the plant near Toronto that got car-making started in Canada more … Read more
February 13, 2019 Globe Newswire CALGARY, Alberta, Feb. 13, 2019 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its unaudited 2018 year-end and fourth quarter financial and operational results, highlights from its independent reserves evaluations effective December 31, 2018, its 2019 capital program and a 5% increase to its quarterly … Read more
NEWS PROVIDED BY Aureus Energy Services Inc. February 13, 2019 CALGARY, Feb. 13, 2019 /CNW/ – Aureus Energy Services Inc. (“Aureus“) is pleased to announce it has acquired all of the outstanding shares of Amperage Energy Inc. (“Amperage“). This strategic acquisition will allow Aureus to extend its service offerings from upstream water sourcing, water transfer, heating and … Read more
February 13, 2019 The Canadian Press Lawyers packed a Regina courtroom today to argue the constitutionality of a federally imposed carbon tax. A panel of five judges is to listen to arguments from both the Saskatchewan and federal governments as well as from 16 interveners on both sides of the dispute. Saskatchewan opposes the federal government’s … Read more
February 13, 2019 CNW CALGARY, Feb. 13, 2019 /CNW/ – Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) (“Bonterra” or the “Company”) is pleased to provide the summary results of its independent reserve report (the “Sproule Report”) prepared by Sproule Associates Limited (“Sproule”) with an effective date of December 31, 2018. Corporate Reserves Information The following summarizes certain information contained in the Sproule … Read more
“The Quebec government cannot keep having it both ways. Blocking and insulting the energy industry of Western Canada, while continuing to rely on and leech off its success.
VANCOUVER — Teck Resources Ltd. saw its fourth-quarter profit drop 41.5 per cent from the year earlier, amid lower prices for copper, zinc and oil.
The profit attributable to shareholders amounted to $433 million or 75 cents per diluted share, down fr…
MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador said on Tuesday he will respect contracts that companies have with state-run power utility CFE for pipelines that are not operational despite his criticism of how much the arrangements cost. On Monday, the government said Mexican billionaire Carlos Slim’s Grupo Carso, TransCanada Corp and Mexican … Read more
(Reuters) – Futures for Canada’s main index rose on Wednesday, helped by gains in oil prices. March futures on the S&P/TSX index were up 0.28 percent at 7:05 a.m. ET. Brent crude prices rose after top exporter Saudi Arabia said it would cut crude exports and deliver an even deeper cut to its production, while … Read more
CALGARY, Alberta, Feb. 12, 2019 (GLOBE NEWSWIRE) — Chinook Energy Inc. (“Chinook” or the “Company”) (TSX: CKE) today announced its unaudited 2018 year end results and the results of its year end reserve evaluation effective December 31, 2018 as prepared by its independent evaluator. Chinook’s audit of its 2018 annual consolidated financial statements is not … Read more
CALGARY, Alberta, Feb. 12, 2019 (GLOBE NEWSWIRE) — Cequence Energy Ltd. (“Cequence” or the “Company”) (TSX: CQE) is pleased to provide an operational update and announce an Executive Management change at the Company. Operations Update: Field production for the 2018 calendar year averaged approximately 6,490 boe/d (23% liquids), with January 2019 field estimates averaging 5,900 … Read more
CALGARY, Alberta, Feb. 12, 2019 (GLOBE NEWSWIRE) — Pine Cliff Energy Ltd. (“Pine Cliff” or the “Company”) (TSX: PNE) is pleased to announce 2019 guidance and 2018 year-end reserves. 2019 Guidance Pine Cliff’s Board of Directors has approved a 2019 capital budget of $10.0 million that will be funded from adjusted funds flow. Pine Cliff … Read more
CALGARY, Alberta, Feb. 13, 2019 (GLOBE NEWSWIRE) — Petro-Canada, a Suncor business, is building a network of electric vehicle (EV) fast charging stations across the country. More than 50 EV stations will be located along the Trans-Canada highway at strategically located Petro-Canada stations from Nova Scotia to British Columbia. Construction is set to begin this … Read more
CALGARY, Alberta, Feb. 13, 2019 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) delivered strong operating performance in 2018 while demonstrating financial resilience in a challenging and volatile Canadian commodity price environment. “In the fourth quarter, in some of the most difficult macro-economic conditions we’ve ever faced and while voluntarily managing our oil … Read more
Feb 13, 2019, by Sharon Cho (Bloomberg) Oil climbed for a second day after Saudi Arabia pledged to deepen production cuts and U.S. President Donald Trump said he might extend a deadline for additional tariffs on China. Futures in New York added as much as 1.2 percent after rising 1.3 percent Tuesday. The world’s biggest … Read more
CALGARY — Cenovus Energy Inc. reported a $1.36-billion loss in its latest quarter as it faced deep discounts for Western Canadian Select oil.
The company says the loss amounted to $1.10 per share for the quarter ended Dec. 31, compared with a profit o…
Feb 13, 2019, by Lorcan Roche Kelly (Bloomberg) Flexibility President Donald Trump said he is open to extending the March 1 deadline to raise tariffs on Chinese imports if both sides are close to agreement by the end of the month. China’s President Xi Jinping is set to meet key members of the U.S. delegation … Read more
(Reuters) – Canada’s Teck Resources Ltd, the world’s second-biggest exporter of steel-making coal, posted a lower-than-expected quarterly profit on Wednesday, hurt by weak prices for heavy crude and base metals. Transportation bottlenecks in the country have pushed prices of Canadian oil lower, hurting the company’s energy business unit, while the U.S.-China trade dispute has roiled … Read more
The latest branch addition to Bluewave Energy’s network recently launched in Kindersley, SK. The branch will service and deliver propane to commercial businesses, industries and homes throughout southwestern and central Saskatchewan. With 32 local branches, Bluewave Energy is Western Canada’s leading multi-fuel distributor that specializes in propane, fuel and lubricants. Bluewave Energy staff pride themselves … Read more
Each week, XI Technologies scans their unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like Wednesday Word to the Wise delivered directly to your inbox, subscribe here. A recent article announcing the offering of a corporate/asset divestiture by Wolf Coulee Resources … Read more
LONDON (Reuters) – The global oil market will struggle this year to absorb fast-growing crude supply from outside OPEC, even with the group’s production cuts and U.S. sanctions on Venezuela and Iran, the International Energy Agency said in a report on Wednesday. The IEA left its demand growth forecast for 2019 unchanged from its last … Read more
We want to inspire change and make the world a safer place. That begins by giving YOU the tools to make YOUR world a safer place. That’s the entire reason why we do what we do. LOPA Workshop and SIL Verification Workshop February 25-26 and February 27-28, 2019 in Calgary, AB Come learn how to plan, execute … Read more
Forward Summit, the gathering of Indigenous and industry leaders dedicated to economic reconciliation, has just announced that Teck Resources will present at the inaugural event in February 2019. Teck Resources, Canada’s largest diversified resources company, will be at the table to participate in various discussions related to their Frontier Project which is currently being reviewed … Read more
February 12, 2019 Globe Newswire CALGARY, Alberta, Feb. 12, 2019 (GLOBE NEWSWIRE) — Encana Corporation (Encana) (TSX, NYSE: ECA) and Newfield Exploration Company (Newfield) (NYSE: NFX) announced that the proposals necessary for the companies’ planned strategic combination were approved at the special shareholder meetings held today. The transaction will create North America’s premier resource company. The … Read more
February 12, 2019 Globe Newswire CALGARY, Alberta, Feb. 12, 2019 (GLOBE NEWSWIRE) — Cequence Energy Ltd. (“Cequence” or the “Company”) (TSX: CQE) is pleased to provide an operational update and announce an Executive Management change at the Company. Operations Update: Field production for the 2018 calendar year averaged approximately 6,490 boe/d (23% liquids), with January 2019 … Read more
February 12, 2019 Globe Newswire CALGARY, Alberta, Feb. 12, 2019 (GLOBE NEWSWIRE) — Pine Cliff Energy Ltd. (“Pine Cliff” or the “Company”) (TSX: PNE) is pleased to announce 2019 guidance and 2018 year-end reserves. 2019 Guidance Pine Cliff’s Board of Directors has approved a 2019 capital budget of $10.0 million that will be funded from adjusted … Read more
February 12, 2019 Globe Newswire CALGARY, Alberta, Feb. 12, 2019 (GLOBE NEWSWIRE) –Pieridae Energy Limited (“Pieridae”) (TSXV: PEA) is pleased to announce that it has entered into an agreement with a syndicate of investment dealers co-led by KES 7 Capital Inc. (“KES 7”), National Bank Financial Inc. (“NBF”), and Laurentian Bank Securities Inc. with KES 7 … Read more
February 12, 2019 Globe Newswire CALGARY, Alberta, Feb. 12, 2019 (GLOBE NEWSWIRE) — Chinook Energy Inc. (“Chinook” or the“Company”) (TSX: CKE) today announced its unaudited 2018 year end results and the results of its year end reserve evaluation effective December 31, 2018 as prepared by its independent evaluator. Chinook’s audit of its 2018 annual consolidated financial statements is not … Read more
CALGARY — Two Calgary men face multiple charges after thefts of copper wire and tools at several rural oilwell sites.
Police say about $300,000 in damage was caused by thieves who cut the wire out of buildings.
The Calgary Police Service says it worke…
Feb 12, 2019, by Grant Smith (Bloomberg) OPEC’s top official urged countries in the group and its allies to follow through on their pledges to cut oil production and keep global markets balanced. While the Organization of Petroleum Exporting Countries collectively made a strong start last month to a new round of output cuts, much … Read more
Feb 12, 2019, by Liam Denning (Bloomberg Opinion) Oil majors increasingly are trying their hand at being alternative-energy minors. Royal Dutch Shell Plc, which traces its roots back to the late 19th century, just bought Greenlots Global, a California software company serving the electric-vehicle charging sector. This follows other deals by Shell — along with the likes … Read more
The U.S. says domestic oil production levels will reach new heights this year and next, and that prices will be lower than they were in 2018.
The U.S. Energy Information Administration said Tuesday that it expects the United States to pump 12.4 millio…
ST. PAUL, Minn. — Minnesota Gov. Tim Walz said Tuesday that his administration will keep pursuing an appeal of an independent regulatory commission’s approval of Enbridge Energy’s plan to replace its aging Line 3 crude oil pipeline across in northern …
Stephanie Taylor / The Canadian Press February 12, 2019 Legal experts, government officials, industry leaders — and maybe even the public — will watch this week as Saskatchewan and Ottawa head to court over the constitutionality of a federally-imposed carbon tax. The federal government is set to impose a carbon tax on provinces that do not have … Read more
February 11, 2019 CNW 221% Production Replacement Led By 22% Increase in Liquids Reserves (TSX: AAV) CALGARY, Feb. 11, 2019 /CNW/ – Advantage Oil & Gas Ltd. (“Advantage” or the “Corporation”) is pleased to report its 2018 reserves and an operational update on the Corporation’s liquids development plan. Advantage’s 2018 proved plus probable (“2P”) reserve additions replaced 221% … Read more
LONDON (Reuters) – OPEC cut its forecast for 2019 world oil demand on Tuesday due to slowing economies and expectations of faster supply growth from rivals, underlining its challenge to prevent a surplus even as it starts new production cuts. In a monthly report, the Organization of the Petroleum Exporting Countries lowered its forecast for … Read more
TORONTO (Reuters) – The Canadian dollar edged lower against its U.S. counterpart on Monday as oil prices fell and investors sought to own greenbacks, betting that the U.S. currency would fare best as the global economy slows. The U.S. dollar .DXY jumped as concerns grew that the latest round of U.S.-China talks may not yield … Read more
February 11, 2019 | Source: PrairieSky Royalty Ltd. CALGARY, Alberta, Feb. 11, 2019 (GLOBE NEWSWIRE) — PrairieSky Royalty Ltd. (“PrairieSky” or the “Company“) (TSX: PSK) is pleased to announce its fourth quarter (“Q4 2018”) and year-end operating and financial results for the period ended December 31, 2018. In addition, PrairieSky’s Board of Directors has confirmed the annual … Read more
CALGARY, Alberta, Feb. 11, 2019 (GLOBE NEWSWIRE) — Essential Energy Services Ltd. (TSX: ESN) (“Essential”) announces the following executive changes effective March 8, 2019: Mr. Allan Mowbray, currently Vice President, Finance and Chief Financial Officer, has resigned from his position effective March 8, 2019 to pursue a new opportunity. Mr. Jeff Newman, currently Senior Vice … Read more
CALGARY, Alberta, Feb. 11, 2019 (GLOBE NEWSWIRE) — Marksmen Energy Inc. (“Marksmen” or the “Company”) announces that it plans to complete a non-brokered private placement of up to 4,650,000 units (the “Units”) of Marksmen at a price of $0.10 per Unit for aggregate gross proceeds of up to a maximum of $465,000 (the “Offering”). There … Read more
Feb 12, 2019, by Grant Smith (Bloomberg) Oil rose from a two-week low as a tentative accord to prevent another U.S. government shutdown reassured investors and boosted financial markets. Crude futures rose 1.6 percent in New York, after sliding on Monday to the lowest settlement since Jan. 28. Congressional negotiators said Monday in Washington they … Read more
Feb 12, 2019, by Lorcan Roche Kelly (Bloomberg) Two out of three ain’t bad Congressional Republican and Democrat negotiators reached an agreement on border security that would see $1.375 billion allocated to increased barriers along the frontier with Mexico. For the tentative deal to prove sufficient to avoid another partial government shutdown on Friday, President Donald Trump … Read more
Feb 12, 2019, by Bloomberg News (Bloomberg) U.S. sanctions that have effectively blocked American imports of Venezuelan oil are leading to a crude-price surge thousands of miles away in China. State-run energy giant PetroChina Co. is selling Venezuelan Merey oil at a premium of about $5 a barrel to benchmark U.S. West Texas Intermediate, according … Read more
NEW YORK (Reuters) – TransCanada Corp said on Monday a stretch of its Keystone crude pipeline from Nebraska to Illinois remained shut after a leak was discovered in the area of St. Louis, Missouri, last week. The cause and source of the spill have not been determined and there is no estimated timeline for a … Read more
BLOOMBERG NEWS Updated: February 11, 2019 Rail volumes fell 56 per cent last week compared with three weeks earlier, after setting a record in December, according to Genscape Inc. JOHN WOODS/THE CANADIAN PRESS Alberta’s effort to alleviate a crude glut through mandatory production curtailments may be backfiring, as Canadian heavy crude has become too expensive … Read more
(Reuters) – The Federal Energy Regulatory Commission said on Monday it approved a request by TransCanada Corp’s Columbia unit to put part of the company’s $600 million Gulf XPress natural gas pipeline into service in Kentucky, Mississippi and Tennessee. Gulf XPress is one of several pipelines designed to connect growing output in the Marcellus and … Read more
The federal government is facing more legal problems over an alleged and ongoing failure to enforce its own environmental laws.
“This is a chronic problem with both Environment Canada and (Fisheries and Oceans),” said David Mayhood of the Timberwolf W…
Come Check Out the Ultimate Hydraulic Catwalk Superior Rig Innovations is an Alberta company with a long history of technical innovation and peerless service in hydraulic and automated catwalks and they are expanding that legacy with another world’s best… “The Commander Catwalk”. Superior Rig opened its doors in 2017, but is an industry expert with … Read more
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. SHERMAN OAKS, Calif., Feb. 08, 2019 (GLOBE NEWSWIRE) — Petroteq Energy Inc. (the “Company”) (TSXV:PQE; OTC:PQEFF; FSE: PQCF), a fully integrated oil and gas company, is pleased to announce the execution … Read more
Feb 11, 2019, by Heesu Lee and Grant Smith (Bloomberg) Oil slipped again, trading near $52 a barrel in New York after mounting concerns about the health of the global economy triggered the sharpest weekly price drop since December. Futures retreated 0.5 percent in New York, following a decline of 4.6 percent last week. U.S. … Read more
Feb 11, 2019, by Lorcan Roche Kelly (Bloomberg) Talks go nowhere With the clock ticking to avoid another partial government shutdown, talks over the weekend seeking an accord on border security broke down without agreement. President Donald Trump is due to go to El Paso, Texas, later today for a rally backing the construction of … Read more
Feb 11, 2019, by Debjit Chakraborty and Dhwani Pandya (Bloomberg) Venezuela’s oil minister made a surprise appearance at an energy event in India, as the embattled OPEC producer seeks closer ties with major crude customers in the face of crippling U.S. sanctions. Manuel Quevedo said on Monday his nation wants to sell more crude to … Read more
Feb 10, 2019, by Alex Nussbaum (Bloomberg) Hedge funds reversed course on oil just in time, plowing back into bearish bets as crude skidded into a wall of economic worries. In a shift from four weeks of retreat, short-sellers boosted by 28 percent their wagers that Brent prices would fall in the week ended Feb. … Read more
Feb 11, 2019, by Kevin Orland and Josh Wingrove (Bloomberg) Canada’s oil sector may soon get a more combative advocate in the Alberta premier’s office. Voters in Canada’s top oil-producing province head to the polls in the next few months and are poised to elect Jason Kenney, one of the country’s foremost conservative figures, as … Read more
Whether you are trying to decide which rewards to offer in your an existing incentive program, or you’re thinking about implementing a program for the first time and are overwhelmed by the various options; the decision about which incentives to use is critical. As such, which rewards you select should be guided by the science … Read more
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Forward Summit partners with Lynx Indigenous Career Connection to present Indigenous Students Career Day taking place on February 27th at Calgary TELUS Convention Centre. While hundreds of Indigenous and industry leaders from across Canada meet at the convention centre for Forward Summit, a few rooms over, Indigenous students and alumni from across Alberta will network … Read more
Drayton Valley is a small Alberta oil town that delivered 6,800 letters to the prime minister last December with a simple message: low oil prices are hurting families and something needs to change now. In a year with both a provincial and federal election, The National is going in-depth in Alberta to find … Read more
Feb 8 (Reuters) – U.S. energy firms this week increased the number of oil rigs operating for the second time in three weeks after oil prices soared over 18 percent in January. Companies added 7 oil rigs in the week to Feb. 8, bringing the total count to 854, General Electric Co’s Baker Hughes energy … Read more
First appeared in the Toronto Sun Last week, Ontario Premier Doug Ford said a carbon tax “will be a total economic disaster” and the “risk of a carbon-tax recession is very, very real.” Predictably, media outlets across the country blasted Ford. “Doug Ford out to lunch with ‘carbon tax recession’ claim, say economists” said Macleans. … Read more
Canada’s drilling rig count decreased by 3 actively drilling rigs according to data collected by Baker Hughes for the week ending February 8, 2019. From one week ago, Alberta rig counts decreased 5 to 159 and the Saskatchewan rig counts increased 3 to 57. Oil drilling decreased 1 to 158 and gas decreased 2 to … Read more
LAC LA BICHE, Alta. — Indigenous supporters of Canada’s oil and gas industry turned out here in force Sunday to make the point that the sector plays a vital role in their lives.
“It doesn’t matter if you’re a business owner or a worker or an aborigina…
EnergyNow is pleased to publish this Open Letter by Deidra Garyk, who works in the Canadian energy industry. If you agree with Deidra please share her letter on your own social media channels. We must keep up our collective voice to make sure the majority of Canadians are heard. The Canadian Energy Industry is vital … Read more
‘I think it is representative that most First Nations support the pipeline’ David Thurton · CBC News · Posted: Feb 10, 2019 A convoy of more than 100 trucks assembled Sunday in Lac La Biche in northern Alberta, in what’s being billed as the first Indigenous-led rally for energy resources. The event, organized by the Region One Aboriginal Business Association, wants … Read more
Recent Russian moves in the Arctic have renewed debate over that country’s intentions and Canada’s own status at the top of the world.
The newspaper Izvestia reported late last month that Russia’s military will resume fighter patrols to the North Pole…
February 8, 2019 Reuters The Canadian heavy oil differential widened against the West Texas Intermediate (WTI) benchmark on Friday, as a section of the Keystone pipeline remained closed because of an oil leak in Missouri: * Western Canada Select (WCS) heavy blend crude for March delivery in Hardisty, Alberta, was trading at $11 a barrel below … Read more
Feb 8, 2019, by Sheela Tobben, Robert Tuttle and Catherine Ngai (Bloomberg) TransCanada Corp. said its Keystone pipeline, which carries Canadian crude to the U.S., was likely the source of an oil spill in Missouri that prompted the company to shut a segment of the line. “Preliminary investigation has led TransCanada to believe that the … Read more
VANCOUVER — Coastal GasLink must submit a notice of construction at least 48 hours before it starts work under its permit to build a pipeline that is opposed by some members of the Wet’suwet’en First Nation, the B.C. Oil and Gas Commission said.
The c…
February 7, 2019 CNW CALGARY, Feb. 7, 2019 /CNW/ – Crew Energy Inc. (TSX: CR) of Calgary, Alberta (“Crew” or the “Company”) is pleased to provide highlights from our independent corporate reserves evaluation prepared by Sproule Associates Ltd. (“Sproule”) with an effective date of December 31, 2018 (the “Sproule Report”). 2018 RESERVES HIGHLIGHTS With net capital expenditures of $93 million ($103.2 million gross)1, Crew successfully … Read more
February 7, 2019 CNW CALGARY, Feb. 7, 2019 /CNW/ – (ARX – TSX) ARC Resources Ltd. (“ARC” or the “Company”) is pleased to report its fourth quarter and year-end 2018 financial and operational results. Fourth quarter production averaged 136,502 boe per day, net income was $159.7 million ($0.45 per share), funds from operations totaled $208.6 million ($0.59 per share), and net debt was $702.7 million as at December … Read more
LONDON (Reuters) – Benchmark Brent oil inched up on Friday but was heading for a weekly loss, pulled down by worries about a global economic slowdown, although OPEC-led supply cuts and U.S. sanctions against Venezuela provided crude with some support. Weighing on financial markets were concerns that a trade dispute between the United States and … Read more
CALGARY, Alberta, Feb. 07, 2019 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX:PXT) is pleased to announce the results of its annual independent reserves assessment as at December 31, 2018. The financial and operational information contained below is based on the Company’s unaudited expected results for the year ended December 31, 2018. … Read more
Feb 7, 2019, by Firat Kayakiran (Bloomberg) It’s never ideal if you own a fleet of crude tankers and the world’s oil producers remove millions of barrels of cargo from the market to avert a glut. Nor is a collapse in charter rates normally the best news. While both those things happened in the past … Read more
Feb 8, 2019, by Samuel Potter (Bloomberg) Here we go again Markets are having a rough time of it, after Europe practically gave up on the whole idea of economic momentum for the time being and Tariff Man said he won’t meet Chinese President Xi Jinping before the March 1 expiry of the current truce. Oh, and the trade cease-fire between … Read more
SEATTLE — Washington Gov. Jay Inslee says his state shares concerns with British Columbia about the Trans Mountain pipeline expansion and will continue to voice its objections any way it can.
Inslee made the comments at a joint news conference in Seat…
Feb 7, 2019, by Stephen Cunningham (Bloomberg) Legislation that would allow the U.S. government to sue OPEC for inflating oil prices cleared a key hurdle in the new session of Congress. The House Judiciary Committee, now led by Democrats, advanced the “No Oil Producing and Exporting Cartels Act” Thursday. That sets the bipartisan “NOPEC” bill, … Read more
Feb 7, 2019, by Brian Eckhouse and Christopher Martin (Bloomberg) Solar is breaking into a power market that’s long been the domain of big, conventional generators. A key reason: batteries. New England just approved 145 megawatts of solar systems to provide capacity to the local grid, according to a statement Wednesday, including some from Sunrun … Read more
Feb 7, 2019, by Kevin Crowley and Eric Roston (Bloomberg) Chevron Corp. vowed to cut greenhouse gas emissions in alignment with the Paris Accord on climate change, potentially averting a shareholder rebellion at its annual general meeting. The U.S. oil major pledged to reduce air pollution intensity by 25 to 30 percent by 2023, as … Read more
NEW YORK (Reuters) – TransCanada Corp on Thursday filed with U.S. energy regulators to cut its spot rates to transport crude from Hardisty, Alberta, Canada to Port Arthur and Houston, Texas, just a month after filing to establish a new international tariff: The company said it would now charge uncommitted shippers $8.28 a … Read more
Feb 7, 2019, by Robert Tuttle, Catherine Ngai and Sheela Tobben (Bloomberg) Canadian crude weakened after two critical oil pipelines remained partially shut amid an investigation into a possible leak in Missouri. Heavy Western Canadian Select for March traded at $10.30 below the calendar average for West Texas Intermediate crude futures, compared with a $9.40 … Read more
EDMONTON — Alberta will work with Indigenous groups in the province’s remote northeast corner on what the government says will be Canada’s largest off-the-grid solar power project.
The plan is for 7,500 solar panels to be erected at the power plant ne…
VICTORIA — British Columbia says it’s starting a new reconciliation process with the Wet’suwet’en hereditary chiefs, who are at the centre of opposition to a natural gas pipeline in northern B.C.
The province says in a release Thursday that the govern…
ST. LOUIS — An oil leak near St. Louis prompted the closure of parts of two pipelines as crews work to determine the source, company officials and Missouri regulators said Thursday.
The leak was discovered Wednesday near St. Charles, Missouri, about 3…
The Canadian heavy oil differential widened modestly against the West Texas Intermediate (WTI) benchmark on Thursday, after a portion of the critical Keystone pipeline shut down due to a potential leak: * Western Canada Select (WCS) heavy blend crude for March delivery in Hardisty, Alberta, was trading at $9.90 a barrel below WTI crude futures … Read more
CALGARY — Canadian Natural Resources Ltd. says its partner in an deep water offshore drilling project in South Africa is reporting a “significant gas condensate” discovery.
The Calgary-based company best known for its Alberta oilsands production trade…
What does the future of Alberta look like, how does it impact the rest of the country, and how can we prepare for the future? Watch from Edmonton, join the National Conversation with Rosemary Barton as questions are asked to Premier Rachel Notley, policymakers, analysts and frontline workers with insight into the challenges and opportunities … Read more
HOUSTON & LONDON–(BUSINESS WIRE)–Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for January 2019 was 1,023, down 2 from the 1,025 counted in December 2018, and up 63 from the 960 counted in January 2018. The international offshore rig count for January 2019 was 241, up 7 from … Read more
CALGARY, Alberta, Feb. 07, 2019 (GLOBE NEWSWIRE) — Canadian Natural Resources Limited (“Canadian Natural” or the “Company”) announces in connection with its 20% working interest in the South Africa Block 11B/12B (“the Block”), the operator of the exploration well, Total E&P South Africa B.V. (“Total”) has issued a press release with updates related to the … Read more
Base EBITDA increased 11% in the quarter driven by robust gross margin improvement Embedded gross margin remains stable at $2.3 Billion Management reaffirms full fiscal year Base EBITDA guidance TORONTO, Feb. 06, 2019 (GLOBE NEWSWIRE) — Just Energy Group Inc. (TSX:JE; NYSE:JE), leading consumer company focused on essential needs including electricity and natural gas commodities, … Read more
Feb 7, 2019, by Samuel Potter (Bloomberg) Shutdown countdown Every big media organization needs a wall full of clocks, usually to check the time across the world’s major cities. It’s no different at Five Things’ global HQ (Bloomberg basement level 2, left after the stationery supplies), except ours are countdown clocks. They count down to … Read more
(Reuters) – A part of TransCanada Corp’s Keystone oil pipeline was shut on Wednesday after a possible leak in the St Louis, Missouri, area, according to three sources familiar with the matter. It was unclear, however, if the leak was from the Keystone pipeline itself, traders said, adding that the Steele-City-to-Patoka line was shut. “The … Read more
Feb 7, 2019, by Tsuyoshi Inajima and Grant Smith (Bloomberg) Oil steadied near $54 a barrel as a decline in American fuel inventories signaled that demand remains healthy despite ongoing concerns about the global economy. Inventories of winter fuel in the U.S. fell more than expected last week as cold polar air blasted the nation, … Read more
By Rod Nickel WINNIPEG, Manitoba, Feb 7 (Reuters) – Canada’s struggling oil industry is looking to what is known as partial upgrading technology to thin its sludge-like crude and squeeze more of it through congested pipelines. It is the latest effort by the Alberta provincial government to rescue an industry hurt last year by steep … Read more
Feb 7, 2019, by Kelly Gilblom and Rakteem Katakey (Bloomberg) The crude market had its worst quarter in four years but you wouldn’t be able to tell by looking at Big Oil’s stellar earnings numbers. The world’s five largest publicly traded oil companies exceeded analyst expectations, in some cases obliterating them. The result lends credibility … Read more
February 6, 2019 Reuters Suncor Energy Inc , one of Canada’s biggest oil producers, expects the province of Alberta to end mandatory production curtailments ahead of schedule as they have caused a price boost that makes rail shipments uneconomic, Chief Executive Officer Steve Williams said on Wednesday. Such unintended consequences are happening faster than the … Read more
United States becomes top source for Britain’s oil imports February 6, 2019 Reuters * Crude oil imports from the United States to Britain in January overtook supplies from other countries for the first time since such shipments began in 2015, data from energy analysts at Kpler showed. * The United States lifted an oil export ban … Read more
February 6, 2019 CNW CALGARY, Feb. 6, 2019 /CNW/ – (TSX:PMT) – Perpetual Energy Inc. (“Perpetual”, or the “Company”) is pleased to release a summary of the Company’s year-end 2018 reserves as reported by the independent engineering firm McDaniel and Associates Consultants Ltd. (“McDaniel”). To preserve value during the low natural gas price environment in Alberta in 2018, Perpetual limited capital spending on … Read more
February 6, 2019 CNW VANCOUVER, Feb. 6, 2019 /CNW/ – Hemisphere Energy Corporation (TSX-V: HME) (“Hemisphere” or the “Company”) is pleased to provide an update on its Southern Alberta operations following the 11 well drilling program that was completed in the fall of 2018. Based on field estimates, corporate production during the period of January 28 to February 4, 2019 averaged approximately 1600 … Read more
CALGARY — Suncor Energy Inc. is calling on the Alberta government to make an earlier-than-planned exit from the oil curtailment program it enacted on Jan. 1 because of its “unintended consequences.”
The program designed to draw down crude storage leve…
Independent Senator Doug Black joins BNN Bloomberg for his perspective on industry concerns surrounding Bill C-69.
February 5, 2019 Globe Newswire 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 a working interest basis, before royalties, … Read more
February 5, 2019 CNW CALGARY, Feb. 5, 2019 /CNW/ – (TSX: EGL): Eagle Energy Inc. (“Eagle“) reports that, due to changes in his professional priorities and the reduced availability which those changes entail, Mr. Wes Schrader has announced his decision to retire as a director of Eagle effective immediately. Eagle thanks Mr. Schrader for his service to the company and … Read more
Michelle Bellefontaine · CBC News Alberta Premier Rachel Notley says the Trans Mountain pipeline expansion should be back on track if a National Energy Board report due later this month “goes our way.” Last summer, the Federal Court of Appeal quashed the project’s approval, bringing construction to a halt. The court ordered the NEB to … Read more
Feb 6, 2019, by Tsuyoshi Inajima (Bloomberg) Oil extended losses below $54 a barrel on signs of a weakening economy and an industry report pointing to rising U.S. crude inventories. Futures in New York fell as much as 0.6 percent after a 1.7 percent drop on Tuesday. A gauge of demand for U.S. service industries … Read more
Feb 6, 2019, by Jennifer A. Dlouhy (Bloomberg) President Donald Trump used his State of the Union address Tuesday night to tout “a revolution in American energy” that has made the U.S. “a net exporter” — but some of his celebration might be premature. Although the U.S. briefly became a net petroleum exporter during one … Read more
Feb 6, 2019, by Lorcan Roche Kelly (Bloomberg) Not yielding President Donald Trump’s State of the Union address talked up bipartisanship, while sticking with White House demands to build a border wall and calling for an end to “partisan investigations.” Trump reiterated a trade deal with China would need to include structural change on the Asian … Read more
Feb 6, 2019, by Mike Jeffers (Bloomberg) Less foreign oil is reaching American shores, as OPEC production cuts kick in and U.S. sanctions on Venezuela curb its exports. Crude shipments to the U.S. from OPEC and its partners fell to 1.41 million barrels a day in January, the lowest in five years, according to data … Read more
LONDON (Reuters) – There is ample spare capacity in other oil producers and strategic reserves to compensate for a loss of Venezuela’s crude exports, helping explain the tepid reaction of global oil prices to U.S. sanctions announced a week ago. Venezuela exports around 1 million barrels of oil per day, about 1 percent of global … Read more
WOLFSBURG, Germany (Reuters) – If Volkswagen realizes its ambition of becoming the global leader in electric cars, it will be thanks to a radical and risky bet born out of the biggest calamity in its history. The German giant has staked its future, to the tune of 80 billion euros ($91 billion), on being able … Read more
Each week, XI Technologies scans their unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like Wednesday Word to the Wise delivered directly to your inbox, subscribe here. In 2018, the Alberta Energy Regulator (AER) published a list of the “Five Most … Read more
Calgary, AB (Feb 6, 2019) – In early January STEP’s new COMMAND CENTER-IQ, C25, set off on its maiden voyage for a client in northwest Alberta. During the operation, downhole milling efficiencies were gained by using valuable downhole data retrieved in real-time and from the customizable automation parameters which is a standard feature of the new unit. … Read more
Thought leaders from the global oil and gas value chain unite with the finance community and policymakers to address the most critical issues affecting the industry today. On the cusp of new age for our industry, we must rethink how and where we operate. Now is the time to embrace change and put strategies and … Read more
CALGARY — Suncor Energy Inc. is blaming a net loss in the last three months of 2018 primarily on steep price discounts for western Canadian oil, including the upgraded synthetic crude it produces at its oilsands mining operations.
The Calgary-based p…
OTTAWA — New Brunswick Premier Blaine Higgs says his latest meeting with the prime minister produced little or no progress on major issues facing his province.
Higgs met with Justin Trudeau on Tuesday in Ottawa, but the premier said there was no movem…
Feb 5, 2019, by Jennifer A. Dlouhy and Rachel Adams-Heard (Bloomberg) U.S. refiners are eager to buy Canadian heavy crude to replace supplies they had been importing from Venezuela that are now blocked by Trump administration sanctions. But there’s not enough space on pipelines and trains to get it across the border. TransCanada Corp.’s proposed … Read more
TORONTO — Canada’s main stock index posted a triple-digit gain Tuesday ahead of the start of quarterly corporate reporting by the country’s oilpatch.
Suncor Energy Inc. will be the first major Canadian oil company to report this quarter, after markets…
Alberta Premier Rachel Notley will speak with The National’s Rosemary Barton in Edmonton on Tuesday about the province’s energy sector. (Jason Franson/Canadian Press Alberta Premier Rachel Notley will answer questions from Canadians live on social media and in person in Edmonton on Tuesday on the future of the province’s energy sector. Issues will include how the oil … Read more
CALGARY, Alberta, Feb. 04, 2019 (GLOBE NEWSWIRE) — Pieridae Energy Limited (Pieridae) (TSXV: PEA) is pleased to announce that the Nova Scotia Mi’kmaq Benefits Agreement which it negotiated with the Assembly of Nova Scotia Mi’kmaq Chiefs (the Assembly) has now been ratified. “We are looking forward to collaborating with the Mi’kmaq of Nova Scotia, and … Read more
by Hailey Waller, Craig Trudell and Brandon Kochkodin (Bloomberg) — The next time a polar vortex rips through Canada and the U.S., electric vehicle owners should be prepared to be frustrated if they don’t take special care of their battery-powered rides. Winter has come for Tesla Inc. and its army of car owners, which swelled … Read more
LONDON (Reuters) – New partnerships are emerging in the global hunt for oil discoveries, with some explorers essentially offering an outsourcing service for the riskiest part of the energy business. Central to this new strategy are efforts to find an ally earlier in the process of discovering new fields, and on a larger scale, in … Read more
Feb 5, 2019, by Rakteem Katakey and Kelly Gilblom (Bloomberg) The world’s biggest oil companies are pumping out cash like crude’s at $100 a barrel again, and investors love it. Exxon Mobil Corp., Royal Dutch Shell Plc, Chevron Corp. and BP Plc smashed analysts’ earnings estimates for the fourth quarter, giving investors assurance that their … Read more
Feb 5, 2019 by Lorcan Roche Kelly (Bloomberg) SOTU Donald Trump’s State of the Union address to Congress later today promises to be the most dramatic in years, with the president hinting that he may declare a national emergency to secure funding for a border wall. Democrats have selected recent Georgia gubernatorial candidate Stacey Abrams to … Read more
Feb 5, 2019, by Tsuyoshi Inajima and Alex Longley (Bloomberg) Oil erased its earlier gains as traders weighed output cuts from OPEC and its allies against expectations for rising U.S. crude inventories. Futures in New York traded 0.3 percent lower, reversing an earlier increase of as much as 1.2 percent. Russia curbed output by 47,000 … Read more
Feb 4, 2019, by Kevin Orland (Bloomberg) A polar blast is boosting prices for western Canadian natural gas, narrowing the commodity’s discount to the U.S. benchmark to the smallest in almost a year. Temperatures were expected to plunge as low as minus 34 degrees Fahrenheit (minus 37 Celsius) in Alberta’s capital of Edmonton overnight and … Read more
We’ve said yes to these projects because we have concluded they will be built responsibly for our environment and will allow our people to flourish. CRYSTAL SMITH Updated: February 3, 2019 I am the elected chief councillor of the Haisla Nation, and as a First Nations leader in my community I dedicate myself to providing … Read more
February 4, 2019 ReutersComments The Canadian heavy oil differential narrowed against the West Texas Intermediate (WTI) benchmark on Monday:* The heavy crude differential remains tight compared with WTI as demand for heavy crude is strong among U.S. Gulf Coast refiners due to sanctions against Venezuela’s state oil company, a Calgary-based trader said. * Western Canada Select … Read more
BISMARCK, N.D. — A company facing opposition from environmentalists and landowners as it works to build an $800 million oil refinery near Theodore Roosevelt National Park in western North Dakota has cleared another hurdle by obtaining a state water pe…
TORONTO — Canada’s main stock index reached its highest level in four months Monday on a big surge in cannabis stocks.
The S&P/TSX composite index closed up 96.01 points at 15,602.32 after hitting an intraday peak of 15,606.34. That’s the highest leve…
February 4, 2019 Force Rentals Ltd. (“Force”) and 5604070 Manitoba Ltd. o/a Titan Production Testing (“Titan”) (collectively, the “Companies”) provided oilfield services and equipment rentals primarily in and around Southwestern Manitoba. Deloitte Restructuring Inc., in its capacity as Receiver of the Companies invite offers to purchase the Receiver’s right, title and interest, if any, in … Read more
February 4, 2019 CNW CALGARY, Feb. 4, 2019 /CNW/ – Pembina Pipeline Corporation (“Pembina” or the “Company”) (TSX: PPL; NYSE: PBA) along with Petrochemical Industries Company K.S.C. (“PIC”) of Kuwait, is pleased to announce a positive final investment decision to construct a 550,000 tonne per annum integrated propane dehydrogenation (“PDH”) plant and polypropylene (“PP”) upgrading facility (“PDH/PP Facility”) through … Read more
CALGARY — Pembina Pipeline Corp. says it is going ahead with its joint venture with Kuwait’s Petrochemical Industries Co. to build an integrated propane dehydrogenation plant and polypropylene upgrading facility in Alberta.
The project is estimated to…
NEW YORK–(BUSINESS WIRE)–BlackRock Real Assets (“BlackRock”) has reached an agreement with Ullico Inc. (“Ullico”) on the sale of a portfolio of four operating solar projects (the “Portfolio”) in Ontario, Canada. This marks the third successful realization for BlackRock’s Renewable Power platform and offers Ullico an attractive, long-term contracted solar portfolio in the Canadian renewable power … Read more
OTTAWA, ON: The Canadian Taxpayers Federation’s today launched a new campaign calling on the Trudeau government to honour its 2015 election promise to balance the federal budget. The CTF’s long-nosed, honesty-in-politics mascot, Fibber, has been assigned a key role in the campaign and plans to make regular public appearances. “Justin Trudeau was crystal clear when running for office: … Read more
CALGARY, Alberta, Feb. 01, 2019 (GLOBE NEWSWIRE) — Enerflex Ltd. (TSX:EFX) (“Enerflex” or the “Company”), a leading supplier of products and services to the global energy industry, will release its fourth quarter and year end 2018 financial results on February 21, 2019. These results will be available on the Enerflex website at www.enerflex.com. Analysts, investors, … Read more
Feb 4, 2019, by Tsuyoshi Inajima and Alex Longley (Bloomberg) Oil held gains near a two-month high after data showed U.S. production growth slowing at a time when OPEC cuts and American sanctions on Venezuela have already eased concerns over a supply glut. Futures in New York rose as much 0.9 percent to reach the … Read more
Feb 4, 2019, by Lorcan Roche Kelly and Sid Verma (Bloomberg) This again The thing about the deal brokered to end the longest shutdown in U.S. history is that it was only a short-term funding extension – and the time that bought is rapidly running out. While the federal government has the money to keep operating … Read more
Feb 3, 2019, by Alex Nussbaum (Bloomberg) Oil’s rally is driving doubters out of the market, with hedge funds abandoning more than half of their short-selling bets in just four weeks. With Brent crude enjoying its best month in almost three years, money managers slashed bearish bets on the global benchmark price by another 27 … Read more
Feb 3, 2019, by Jennifer A. Dlouhy (Bloomberg) U.S. oil refiners won’t be allowed to complete shipments of Venezuelan crude they booked before the Trump administration slapped new sanctions on the Latin American nation. U.S. Treasury Department officials have informed some companies that previously contracted cargoes won’t be exempt from a new rule blocking payments … Read more
Microsoft is announcing that support for several of their main stream products will end in 2019/2020. Although these products will still operate, they will no longer receive any feature or security updates. This means that computers running these software versions may become vulnerable to hackers. Microsoft recommends that users of these operating system consider upgrading … Read more
The need for temporary signage is situational, whether it be for seasonality, portability or functionality. Seasonality is a good indicator for when businesses may need temporary signage, especially throughout those winter months. Permanent signage is usually too costly to continuously update and is typically mounted or deep in the ground. Temporary signage is generally lightweight, … Read more
Click here to see the specifications for Flare Knockout (LP), 66″ x 9′ 50 bbl 15 PSI About Marketplace by IronHub Markeplace by IronHub is North America’s leading surplus collaboration tool. Source, connect and save – all in one place. Visit: marketplace.theironhub.com
User feedback and constant development are critical for any Software as a Service (SaaS) company. Since launch, the Workaware suite of software has evolved though the direct collaboration with our clients in the office, and in the field to create a unified user experience they need and want to use everyday. Think of it as … Read more
Incentives alone aren’t the key to an effective safety program. But incentives that the participants actually want can be. Situation: Cash isn’t always the answer A provider of contract personnel to the oil and gas industry wanted to improve its safety performance. Some years ago, the company implemented a Safety, Health & Environmental (SHEM) Plan … Read more
Integrating color identification in the workplace reduces errors and increases efficiency MILWAUKEE, Wis. (January 31, 2019) — Brady (NYSE:BRC), a global leader in industrial and safety printing systems and solutions, announced the launch of a new color label printer designed to improve efficiency through the creation of clear, colorful identification that withstands the harshest environments. The new printer – … Read more
The phrases “Digital transformation” and “Artificial intelligence” (AI) are trending in the energy industry. Individuals and companies are trying to wrap their heads around these terms and make sense of what it all means. How could it benefit your business? Where do you start? Do you need to have a Ph.D. in AI to utilize … Read more
by Javier Blas (Bloomberg) The shale boom has created a world awash with crude, putting a lid on prices and markedly reducing U.S. dependence on imported energy. But there’s a growing problem: America is producing the wrong kind of oil. Texas and other shale-rich states are spewing a gusher of high-quality crude — light-sweet in … Read more
February 1, 2019 The Associated Press The Trump administration is appealing a court ruling that blocked the Keystone XL oil pipeline. Justice Department attorneys on Friday appealed the November ruling from U.S. District Judge Brian Morris that blocked a construction permit for the 1,184-mile (1,900-kilometre) pipeline. The line sponsored by Calgary-based TransCanada would begin in Alberta … Read more
Canada’s drilling rig count increased by 11 actively drilling rigs according to data collected by Baker Hughes for the week ending February 1, 2019. From one week ago, Alberta rig counts increased 3 to 164 and the Saskatchewan rig counts increased 5 to 54. Oil drilling increased 13 to 159 and gas decreased 2 to … Read more
TORONTO — Canadian efforts to reduce single-use plastic will get a boost this year when a major retailer is slated to launch a test of reusable packaging in the most populated part of the country.
The chain’s identity is expected to be unveiled this s…
HOUSTON, B.C. — Staring into a fire outside a sweat lodge at the Unist’ot’en camp, Johnny Morris passes a ball of snow between his hands until it melts.
The 31-year-old Wet’suwet’en man said he’s almost three months sober for the first time in years a…
February 1, 2019 Reuters The Canadian heavy oil differential widened against the West Texas Intermediate (WTI) benchmark on Friday after Imperial Oil said it was slowing rail shipments due to the price impacts of Alberta production cuts:* Western Canada Select (WCS) heavy blend crude for March delivery in Hardisty, Alberta, traded on Friday afternoon at $10.25 … Read more
TORONTO — Canada’s main stock index followed a strong January performance by starting the month lower despite crude oil prices hitting an almost 11-week high.
Investors pocketed some profits and took a pause after the Toronto market gained 8.5 per cen…
CALGARY — A credit rating agency says high court support for the Alberta Energy Regulator’s ability to force a bankruptcy trustee to pay out well-abandonment obligations before paying back creditors is credit negative for energy companies.
Moody’s Inv…
Feb 1 (Reuters) – U.S. energy firms this week cut the number of oil rigs operating for a fourth time in the past five weeks as some drillers follow through on plans to spend less on new wells this year. Drillers cut 15 oil rigs in the week to Feb. 1, bringing the total count … Read more
February 1, 2019 Imperial Oil Dartmouth Refinery Canada’s integrated oil company Imperial Oil Ltd on Friday posted a quarterly profit that beat analysts’ estimate, as cheap crude prices enhanced margins at its refining division.Imperial, majority owned by Exxon Mobil Corp , said income from its refining unit jumped nearly four-fold to C$1.14 billion ($868.2 million). … Read more
January 31, 2019 | Source: Saturn Oil + Gas Inc SASKATOON, Saskatchewan, Jan. 31, 2019 (GLOBE NEWSWIRE) — Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX.V: SOIL) (FSE: SMK) is pleased to announce that the Company commenced its Q1/2019 drill program (the “Program”) on January 14th, 2019. The Program consists of ten extended reach horizontal … Read more
CALGARY — Imperial Oil Ltd. is cutting its crude-by-rail shipments from 168,000 barrels per day in December to “near zero” this month and its CEO is placing the blame squarely on the Alberta government’s oil production curtailment order.
The collapse …
WASHINGTON (Reuters) – Entities outside the United States have until April 28 to wind down their purchases of petroleum and petroleum products from Petróleos de Venezuela SA, the U.S. Treasury Department said in a notice posted early on Friday. Americans who work for non-U.S. companies located outside of the United States and Venezuela have until … Read more
CALGARY, Alberta–(BUSINESS WIRE)–Imperial Oil Limited (TSX:IMO): Full-year earnings of $2,314 million; $3,922 million cash generated from operations Record annual gross production at Kearl of 206,000 barrels per day Returned more than $2.5 billion to shareholders through share purchases and dividends Fourth quarter Twelve months millions of Canadian dollars, unless noted 2018 2017 ∆ 2018 2017 … Read more
TORONTO — Canada’s main stock index rebounded from December’s selloff by gaining 8.5 per cent in January, fuelled by a surge in crude oil prices.
North American markets as a whole performed well in the month, led by the Nasdaq composite, which ended 9…
Jan 31, 2019, by Kelly Gilblom (Bloomberg) Royal Dutch Shell Plc is pumping out a torrent of cash, delivering the payoff that was promised to investors after the company’s biggest-ever acquisition three years ago. Chief Executive Officer Ben van Beurden is close to achieving all the targets he set after buying BG Group Plc in … Read more
Feb 1, 2019, by Sharon Cho and Alex Longley (Bloomberg) Oil held below $54 a barrel in New York as weak Chinese manufacturing data and persistent uncertainty over U.S.-China trade talks stoked concerns that slowing growth could hurt demand. West Texas Intermediate futures were steady after rising 18 percent last month. A Chinese factory purchasing … Read more
Feb 1, 2019, by Lorcan Roche Kelly (Bloomberg) Payrolls The longevity of the U.S. economic expansion will be underscored by payrolls data at 8:30 a.m. Eastern Time showing a record 100 months of hiring gains — in a row, according to economist surveyed by Bloomberg. Expectations are for 165,000 new positions to have been added in January, the unemployment … Read more
Jan 31, 2019, by Esteban Duarte (Bloomberg) Canadian investors are finding themselves in an unusual position — outperforming their U.S. counterparts across all three main asset classes as conciliatory central banks reignite risk in global markets. Canada’s benchmark S&P/TSX Composite index has surged 8.5 percent this year, second-best among developed markets and ahead of the … Read more
January 31, 2019 The Canadian Press OTTAWA – Canada’s parliamentary budget watchdog says the Liberal government paid the “sticker price” when it bought the Trans Mountain pipeline from Kinder Morgan for $4.5 billion. Parliamentary Budget Officer Yves Giroux estimates the Trans Mountain pipeline and planned expansion project are worth between $3.6 billion and $4.6 billion. This … Read more
JANUARY 31, 2019 – CALGARY, ALBERTA Today the Supreme Court of Canada released its ruling on the Redwater appeal. The Canadian Association of Petroleum Producers has issued the following statement. “<em>The Canadian Association of Petroleum Producers is encouraged with today’s decision from the Supreme Court of Canada. CAPP has argued on behalf of industry that … Read more
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ENERGYNOW FEATURE: Why Energy Policy Is Becoming a Women’s Issue Across Canada