Canada’s drilling rig count decreased by 17 actively drilling rigs according to data collected by Baker Hughes for the week ending March 29th, 2019. From one week ago, Alberta rig counts decreased 17 to 68 and the Saskatchewan rig counts decreased 1 to 2. Oil drilling decreased 14 to 35 and gas decreased 3 to … Read more
Mar 29, 2019, by Kelly Gilblom (Bloomberg) In the cutthroat game of global capitalism, there can be only one winner. Unless you’re an oil company. Both BP Plc and Royal Dutch Shell Plc are claiming the top spot for investor returns within their peer group from 2016 to 2018. That’s an important metric — taking … Read more
Mar 29, 2019 by Ben Foldy and Alex Nussbaum (Bloomberg) Oil closed above $60 for the first time since early November, capping its best quarter since 2009, amid signs of thinning supplies from Siberia to the U.S. shale fields. Futures rose 1.4 percent in New York on Friday as Russian Energy Minister Alexander Novak said … Read more
CALGARY — Shares in Bellatrix Exploration Ltd. fell by as much as 35 per cent Friday after it proposed a deal that would leave its existing shareholders with just 16.5 per cent of the company.
The Calgary-based oil and gas producer says it intends to …
March 29 (Reuters) – U.S. energy firms this week reduced the number of oil rigs operating to their lowest in nearly a year, cutting the most rigs in a quarter in three years despite a 30 percent hike in crude prices so far in 2019. Drillers cut eight oil rigs in the week to March … Read more
Taxpayers Federation launches election-year promise tracker CALGARY, AB: The Canadian Taxpayers Federation launched an election-year promise tracker to add up the new spending promises made by the New Democrat Party and the United Conservative Party since the beginning of 2019. The NDP has announced more than $12 billion worth of new spending promises, while the … Read more
CALGARY — A move by the governor of Michigan to halt work on a project to replace Enbridge Inc.’s 65-year-old Line 5 pipeline is raising fears that the recently elected Democratic administration could also try to shut down the existing pipeline.
Analy…
March 29, 2019 Globe Newswire CALGARY, Alberta, March 28, 2019 (GLOBE NEWSWIRE) — Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) (www.razor-energy.com) is pleased to announce its fourth quarter and year end 2018 financial and operating results. Selected financial and operational information is outlined below and should be read in conjunction with Razor’s audited consolidated … Read more
March 28, 2019 Globe Newswire CALGARY, Alberta, March 28, 2019 (GLOBE NEWSWIRE) — Marksmen Energy Inc. (“Marksmen” or the “Company”) announces that it has completed the second and final closing (“Second Tranche”) of its previously announced non-brokered private placement of units (the “Units”) of Marksmen at a price of $0.10 per Unit (the “Offering”). The Company … Read more
March 28, 2019 CNW CALGARY, March 28, 2019 /CNW/ – After reviewing the statement issued by Michigan Attorney General Nessel and Governor Whitmer’s executive directive, Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) is surprised and disappointed they have taken this position with respect to the legislation when the Straits tunnel project will further enhance the safety and … Read more
CALGARY, Alberta, March 28, 2019 (GLOBE NEWSWIRE) — Pipestone Energy Corp. (“Pipestone Energy”) (TSX-V: PIPE) announces that in accordance with the requirements of National Instrument 51-102 – Continuous Disclosure Obligations (“NI 51-102”) it has filed the audited financial statements for its predecessor Pipestone Oil Corp. (“POC”) for the year ended December 31, 2018. As Pipestone … Read more
March 28, 2019 The Associated Press TRAVERSE CITY, Mich. – Michigan Gov. Gretchen Whitmer has ordered state departments and agencies to take no further action on legislation enacted in late 2018 authorizing construction of an oil pipeline tunnel beneath lakes Huron and Michigan. It would house a more than 4-mile (6.4-kilometre) section of Enbridge’s Line 5, … Read more
ST. PAUL, Minn.–(BUSINESS WIRE)–PolyMet Mining Corp. (“PolyMet” or the “company”) TSX: POM; NYSE American: PLM – today reported that it has filed its financial results for the year ended December 31, 2018. PolyMet is fully permitted to construct and operate the NorthMet copper-nickel-precious metals mine and processing plant located near Hoyt Lakes, Minnesota. The financial … Read more
Mar 29, 2019, by Kelly Gilblom (Bloomberg) Royal Dutch Shell Plc could ramp up acquisitions of electricity producers to achieve its target of becoming the world’s biggest power company by the 2030s, according to analysis by Sanford C Bernstein Ltd. To become the biggest low-carbon electricity provider, the company must produce 214 terawatt-hours of clean … Read more
Mar 29, 2019, by Saket Sundria and Alex Longley (Bloomberg) Oil headed for its best quarter in almost 10 years as the OPEC+ coalition’s production cuts and the loss of barrels due to U.S. sanctions on Iran and Venezuela countered a wobbly demand outlook. Futures rose as much as 1.5 percent in New York. Crude … Read more
Mar 29, 2019, by Lorcan Roche Kelly and Sid Verma (Bloomberg) Details Chinese and U.S. negotiators are checking the fine details of a possible agreement to end the nearly year-long trade war between the world’s two largest economies. The focus on the wording of any deal is to make sure both the English and Chinese versions … Read more
EnergyNow is pleased to publish these 10 Questions posed by Deidra Garyk, who works in the Canadian energy industry. Alberta’s energy industry is also Canada’s energy industry. It benefits all of Canada. Ask these questions to the political candidate in your area and ask for answers. Supporting those candidates that support Alberta’s energy sector is … Read more
50% ISA CONFERENCE DISCOUNT Use promo code EnergyNow to redeem CONFERENCE FEATURES: Keynote presentations twice a day from top industry leaders Two full days of technical presentations and panel discussions 40+ speakers offering sessions geared towards the application of technology, equipment and knowledge to provide solutions to real-world problems MAIN TOPICS OF DISCUSSION: Process Measurements – Topics … Read more
LONDON (Reuters) – The United States has instructed oil trading houses and refiners around the world to further cut dealings with Venezuela or face sanctions themselves, even if the trades are not prohibited by published U.S. sanctions, three sources familiar with the matter said. The move comes as Washington’s efforts to oust President Nicolas Maduro … Read more
DUBAI/LONDON/MOSCOW (Reuters) – Saudi Arabia is having a hard time convincing Russia to stay much longer in an OPEC-led pact cutting oil supply, and Moscow may agree only to a three-month extension, three sources familiar with the matter said. Russian Energy Minister Alexander Novak told his Saudi counterpart Khalid al-Falih when the two met in … Read more
CALGARY — One of the leaders of a First Nations consortium planning to offer $6.8 billion for majority ownership of the Trans Mountain pipeline says federal government principles for Indigenous buyers are “exactly aligned” with its goals.
Harrie Vrede…
TORONTO (Reuters) – Investors trying to work out whether the inversion of the U.S. yield curve signals a looming recession may find clues – but little comfort – in the Canadian bond market, which is less distorted by central bank buying. The U.S. curve inverted last week for the first time in more than a … Read more
CALGARY, Alberta (Reuters) – A fire which broke out at Suncor Energy’s U2 upgrader at its oil sands plant in northern Alberta early on Thursday has been contained and extinguished, a company spokeswoman said. Spokeswoman Erin Rees said there were no injuries but declined to say whether production had been affected. “We do not provide … Read more
CALGARY, Alberta (Reuters) – The main opposition party in Alberta’s April election is using Canadian Prime Minister Justin Trudeau as a proxy foe, analysts say, channeling a long-standing sense of western alienation rather than directly attacking a popular premier. Polls suggest the United Conservative Party is on course to win power in the province, Canada’s … Read more
Mar 28, 2019, by Jim Efstathiou Jr. (Bloomberg) Last year, a company won a contract to build a 65-megawatt solar and battery farm in Arizona. A month later, the Saudis came out with a $200 billion plan to build the world’s biggest battery-backed solar farm by 2030. Then a firm proposed a nearly 500-megawatt solar-storage … Read more
Mar 28, 2019, by James Herron and Salma El Wardany (Bloomberg) U.S. President Donald Trump renewed his criticism of OPEC, saying the cartel should increase production because prices are getting “too high.” It’s the second time this year the president has taken to Twitter to urge the cartel to backtrack on its current policy of … Read more
by Gary G. Mar, Q.C., President and CEO Petroleum Services Association of Canada (PSAC) On March 22, 2019, my Board Chairman and I represented the Petroleum Services Association of Canada (PSAC) before the Standing Senate Committee on Energy, the Environment and Natural Resources. We were testifying on behalf of PSAC Member companies, offering their views and perspectives on … Read more
March 27, 2019 CNW CALGARY, March 27, 2019 /CNW/ – (TSX:PMT) – Perpetual Energy Inc. (“Perpetual”, the “Corporation” or the “Company”) is pleased to release its fourth quarter and year-end 2018 financial and operating results and announce the confirmation of the borrowing limit on its bank credit facility at $55 million and the extension of the maturity date to November 30, 2020. A … Read more
CALGARY, Alberta, March 28, 2019 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX: SFD; OTC QB: NSFDF) is pleased to announce that it has signed an $8.9 Million USD contract with PE Energy Limited (“PE”), a Nigerian oil and gas service company that has a contract with the Nigerian National Petroleum … Read more
March 27, 2019 Globe Newswire CALGARY, Alberta, March 27, 2019 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to announce our operating and financial results for the three months and year ended December 31, 2018. PPR’s audited consolidated financial statements (“Annual Financial Statements”) and related Management’s Discussion and Analysis … Read more
Mar 27, 2019, by David Wethe and Rachel Adams-Heard (Bloomberg) Offshore is ready for the limelight again. After years in the shadow of the U.S. shale patch, deep-water explorers from Royal Dutch Shell Plc to Talos Energy Inc., along with contractors such as Ensco Plc and TechnipFMC Plc, told investors at the Scotia Howard Weil … Read more
Mar 28, 2019, by Sharon Cho and Alex Longley (Bloomberg) Oil fell for a second day after an unexpected jump in U.S. crude stockpiles unnerved a market already anxious about faltering global demand. Futures in New York dropped as much as 1.3 percent, after falling by 0.9 percent at the close on Wednesday. American oil … Read more
Mar 28, 2019, by Lorcan Roche Kelly (Bloomberg) Trade talks President Donald Trump’s top trade negotiator, Robert Lighthizer, and Treasury Secretary Steven Mnuchin are in Beijing for talks seeking to reach an end to the trade standoff between the world’s two largest economies, with hopes of a breakthrough remaining low. The Trump administration has recently become increasingly … Read more
Mar 26, 2019, by Rachel Adams-Heard (Bloomberg) Enbridge Inc.’s embattled Line 3 crude oil pipeline was given the final green light from Minnesota regulators, just two weeks after the Canadian energy company said the project would be delayed by a year. The Minnesota Public Utility Commission on Tuesday voted unanimously to approve the project, which … Read more
Clean Energy British Columbia has issued an information bulletin and report in response to the Ministry of Energy, Mines and Petroleum Resources report issued Feb. 14 that said Crown provincial utility BC Hydro overpaid for electricity obtained through purchase agreements. “It is important to have a fair and factual debate when discussing important issues that … Read more
ACHESON, Alberta, March 27, 2019—Frac Shack Inc. (“Frac Shack”) announced today that it entered Argentina through a subsidiary (Frac Shack Sociedad por Acciones Simplificada) in which Frac Shack has 51% ownership. Frac Shack rigged-in its first Diesel-Only FracFueller™ (“shack”) on February 14th. The shack is providing automated re-fuelling services to pressure pumpers on pads north … Read more
FORT MCMURRAY, Alta. — NDP Leader Rachel Notley is promising to spend $1.4 billion to expand Alberta’s network of roads that handle large and oversized loads.
Notley says the current 6,500-kilometre network is recognized as one of the best in North Am…
DENVER — Colorado’s long-running battle over oil and gas drilling in suburban neighbourhoods has erupted again, and this time the stakes are deeply personal.
As state lawmakers debate whether to clamp stronger health and safety regulations on the indu…
March 27, 2019 Reuters Canada’s trade deficit shrank slightly to $4.25 billion in January, the second highest on record, as low crude prices continued to eat into the value of exports, Statistics Canada said on Wednesday.Analysts in a Reuters poll had forecast a shortfall of C$3.50 billion. Statscan revised December’s deficit to C$4.82 billion from an … Read more
RIYADH, Saudi Arabia — Saudi Aramco has purchased a 70 per cent share in petrochemical firm SABIC for $69.1 billion in a deal that pumps capital into the kingdom’s sovereign wealth fund.
Aramco says it acquired the majority stake in SABIC from the Pub…
Mar 27, 2019, by Grant Smith (Bloomberg) Oil slid from near $60 a barrel in New York amid conflicting signals on U.S. crude inventories, while traders continued to weigh OPEC supply cuts and fragile demand. West Texas Intermediate futures fell 0.6 percent. Crude stockpiles rose by 1.93 million barrels last week, the American Petroleum Institute … Read more
Mar 26, 2019, by James Herron (Bloomberg) BP Plc has set up a $100 million fund for projects that will reduce emissions of greenhouse gases from its oil and gas exploration and production operations over the next three years. The new Upstream Carbon Fund is in addition to the $500 million that BP has already … Read more
Mar 27, 2019, by Theophilos Argitis (Bloomberg) Canada’s merchandise trade deficit narrowed in January as oil prices rebounded at the start of the year, though the gap remains close to record levels. The nation posted a C$4.3 billion ($3.2 billion) trade shortfall on the month, down from December’s record high gap of C$4.8 billion, Statistics … Read more
Mar 26, 2019, by Jenny Leonard, Andrew Mayeda and Mark Niquette (Bloomberg) For President Donald Trump’s new North American trade accord to become law, he’ll need the help of a political rival with a track record of blocking such deals. In 2008, Nancy Pelosi was House Speaker when Democratic lawmakers denied President George W. Bush’s … Read more
Mar 27, 2019, by Lorcan Roche Kelly (Bloomberg) A great deal President Donald Trump’s top trade negotiator, Robert Lighthizer, and Treasury Secretary Steven Mnuchin are due to resume trade talks in Beijing tomorrow, with China’s Vice Premier Liu He expected in the U.S. the following week as efforts to reach an accord are stepped up. While … Read more
Last month the Supreme Court of Canada issued its ruling on the Redwater Energy Corp. appeal. The Supreme Court of Canada has ruled that oil and gas production companies’ environmental liabilities should take precedent over debt re-payment to creditors in the event of an insolvency. This means that the proceeds from asset sales of insolvent … Read more
If you’ve read news lately about the Canadian oil & gas sector there’s a strong sense that Canada is falling behind. As Canada struggles—hamstrung by pipeline bottlenecks, the loss of billions of dollars in capital investment, falling prices, and a lack of competitiveness—the Permian and other high producing plays south of the border hog the … Read more
FMI Corporation is pleased to announce the release of the latest AGC/FMI Risk Management Study: a survey of the risk environment in the construction industry. This year’s study results indicate changes in the engineering and construction risk environment over the last three years and provide important data points regarding future risk management trends. Additionally, there … 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 to receive our Wednesday Word to the Wise in your inbox, subscribe here. Environmental liability management is one of the most challenging issues facing our … Read more
Knowing the basics allows people to make their facilities and the world a safer place! Learning to interpret information on Piping and Instrumentation Drawings (P&ID) will set you apart from your peers, whether you are an Operator, EIT, Engineer, or Manager In this fundamental course you will learn: ✔ How to interpret P&IDs ✔ How to understand … Read more
We know there’s lots to do come audit season. Here are some helpful tips to prepare for an audit, whether internal or external! BONUS! We’ve included specifics on the signage requirements for you. WHAT IS AN AUDIT? It’s an official inspection performed by an auditor to ensure your business is adhering to health, safety and environmental standards. An … Read more
March 26, 2019 Reuters Comments The number of pipeline and storage terminal projects proposed to move shale to the U.S. Gulf Coast has dwindled amid steps by oil producers to pare exploration spending. Last year, booming West Texas production overwhelmed existing pipelines out of the region, sinking local prices and helping launch nine projects proposing to … Read more
March 26, 2019 CNW TSX-V: HME VANCOUVER, March 26, 2019 /CNW/ – Hemisphere Energy Corporation (TSX-V: HME) (“Hemisphere” or the “Company”) is pleased to announce highlights from its independent reserves evaluation effective as at December 31, 2018 prepared by McDaniel & Associates Consultants Ltd. (“McDaniel”). During 2018 Hemisphere incurred capital expenditures of approximately $15.5 million, which included capital to drill 11 … Read more
March 26, 2019 Reuters Canadian crude producer Imperial Oil has recently resumed shipping crude oil by rail from its terminal in Edmonton, Alberta, because of a marginal improvement in rail economics, a company spokesman said on Tuesday. The pickup in volumes is good news for the Alberta government, which is relying on rail to help draw … Read more
Mar 26, 2019, by Scott Deveau (Bloomberg) A group of investors in TransAlta Corp. plans to nominate directors to the board of the Canadian power producer because they think it may be able to find better deals than an investment from Brookfield Asset Management Inc., according to people familiar with the matter. The group, comprised … 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., March 25, 2019 (GLOBE NEWSWIRE) — Petroteq Energy Inc. (“Petroteq” or the “Company”) (TSXV:PQE; OTC:PQEFF; FSE: PQCF), a fully integrated oil and gas company, announces the following: The … Read more
LONDON/DUBAI (Reuters) – OPEC and its allies aim to hold their next ministerial monitoring committee meeting, known as the JMMC, on May 19 in the Saudi Arabian city of Jeddah, two sources said on Tuesday. Saudi Arabia and Russia are members of the JMMC, which includes other major oil producers who took part in a … Read more
HOUSTON (Reuters) – Kinder Morgan Inc has dropped out of a recently proposed U.S. Gulf Coast deepwater crude export venture, the project’s leader Enbridge Inc said on Monday. The $800 million project, known as Texas COLT, is one of eight similar projects proposing facilities that would move U.S. shale to overseas markets by loading supertankers … Read more
Mar 25, 2019, by Javier Blas (Bloomberg) Oil trader Paul Vega is at the vanguard of shale’s next revolution. Driving his pick-up truck through the heartland of the Permian basin — the vast tract of west Texas scrub where one of history’s greatest oil booms means miles-long traffic jams — Vega says there’s more crude … Read more
Mar 26, 2019, by Mathew Carr and Jeremy Hodges (Bloomberg) Carbon emissions from fossil-fuel use hit a record last year after energy demand grew at its fastest pace in a decade, reflecting higher oil consumption in the U.S. and more coal burning in China and India. Those findings from the International Energy Agency mark a … Read more
Mar 26, 2019, by Sharon Cho and Grant Smith (Bloomberg) Oil rebounded along with global markets as pessimism over the global growth outlook eased a little, while rising tension in Venezuela revived fears of supply losses. Futures rose as much as 1.6 percent in New York after falling about 2 percent over the previous two … Read more
Mar 26, 2019, by Lorcan Roche Kelly (Bloomberg) The MPs strike back Parliament in London seized control of the Brexit process last night in a move which will allow lawmakers to hold a series of indicative votes on the way forward. The range of possible outcomes include everything from leaving with no deal to holding … Read more
VICTORIA — British Columbia is changing the province’s tax structure for liquefied natural gas projects with Finance Minister Carole James saying the government is aiming to encourage more development through a natural gas tax credit.
James introduced…
March 25, 2019. Thunderchild First Nation (“TCFN”) is pleased to announce the launch of Thunderchild Energy Services Inc. (“TCES”), an Indigenous majority-owned energy services company based in Calgary, AB. TCES focuses on best-practises in the full life-cycle of environmental and engineering services, including asset retirement and remediation services, for the western Canadian energy sector. The … Read more
Mar 25, 2019, by Erik Hertzberg (Bloomberg) Canadian companies continue to seek workers even as the economy slows. Vacancies hovered for most of last year at the highest levels since at least early 2015, with Statistics Canada reporting Monday there were 547,770 unfilled jobs in the final three months of 2018. That’s up 17 percent … Read more
CALGARY — Analysts say Canadian oilfield services companies with operations in the U.S. are now earning more of their revenue south of the border than they have for at least six years.
In a report, AltaCorp Capital says that trend is expected to conti…
CALGARY — Finance Minister Bill Morneau says the government remains committed to putting the Trans Mountain pipeline and its proposed expansion back in private hands as he unveiled four principles for including Indigenous groups in those discussions.
…
TORONTO — Canada’s main stock index resumed where it left off Friday by falling on continued concern about global economic growth.
The market was in a “holding pattern” Monday after its worst selloff of the year as investors continued to digest sugges…
March 25, 2019 CNW REPORTS FOURTH QUARTER AND FISCAL 2018 FINANCIAL RESULTS Revenue of $46.2 million, EBITDA of $5.9 million and improved net income of $0.4 million for fourth quarter 2018 when compared with the fourth quarter of 2017. Revenue of $150.4 million, EBITDA of $20.6 million and net income of $2.3 million for the year ending December 31, 2018. SHERWOOD PARK, AB, March 25, 2019 /CNW/ – (TSXV:VTX) – … Read more
March 25, 2019 Globe Newswire CALGARY, Alberta, March 25, 2019 (GLOBE NEWSWIRE) — PRD Energy Inc. (“PRD” or the “Company“) is pleased to provide an update on the status of its liquidation and the anticipated timing of its dissolution. PRD is currently discharging all of its obligations and completing all other acts required to liquidate its … Read more
March 25, 2019 Globe Newswire CALGARY, Alberta, March 25, 2019 (GLOBE NEWSWIRE) — Pengrowth Energy Corporation (“Pengrowth” or the “Company”) (TSX:PGF, OTCQX:PGHEF), today announced that it has reached arrangements for the extension of the maturity date under its secured revolving credit facility (the “Credit Facility”) through September 30, 2019, subject to certain terms. The Company’s $330 … Read more
(Reuters) – Exxon Mobil Corp expects high-sulfur fuel oil demand to fall 25 percent by 2025, as a new set of emission regulations kick in next year, a top-level official at the U.S. oil and gas company said on Monday. A new 0.5 percent sulfur content cap in shipping fuel set by the International Maritime … Read more
(Reuters) – Enmax Corp said on Monday it will buy Emera Inc’s electric transmission and distribution unit for $959 million, as the Canadian company expands its North American regulated utility business. The sale of the unit, Emera Maine, is expected to close in late 2019 and is part of Emera’s previously announced three-year funding plan. … Read more
Recently, the University of Calgary Law Faculty hosted a panel entitled “Some Sober Second Thoughts: Debunking the myths and clarifying the impact of Bill C-69” – perhaps a take off on the fact that the Canadian Senate is now reviewing this contentious legislation and the Senate is supposed to offer Canadians a ‘sober second thought.’ … Read more
March 25, 2019 CNW CALGARY, March 25, 2019 /CNW/ – RETURN ENERGY INC. (“Return” or the “Company”) (TSX-V: RTN) announces that its Board of Directors (the “Board”) has initiated a formal process to review potential strategic alternatives available to the Company (the “Process”) in an effort to enhance shareholder value. The Board believes that the current trading price of its common shares … Read more
March 25, 2019 CNW CALGARY, March 25, 2019 /CNW/ – Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation“) is pleased to announce that it has entered into an asset purchase and sale agreement whereby the Corporation has divested of its Pipestone Gas Plant’s 32MW cogeneration units to Kineticor Resource Corp. (“Kineticor“), a privately held power developer focused on … Read more
Mar 25, 2019 by Scott Deveau (Bloomberg) Brookfield Asset Management Inc. will invest C$750 million ($559 million) in power producer TransAlta Corp. and nominate two directors to its board. Brookfield will also use the investment to increase its stake in the Calgary-based utility to about 9 percent under certain conditions, according to a statement Monday. … Read more
CALGARY, Alberta, March 25, 2019 (GLOBE NEWSWIRE) — TransGlobe Energy Corporation (“TransGlobe” or the “Company”) (AIM & TSX: “TGL” & NASDAQ: “TGA”) announces that it was notified on March 22, 2019 that on the same day Edward LaFehr acquired common shares as follows: PDMR Number of Common Shares Acquired Price ($CDN) Number of Common Shares … Read more
Mar 25, 2019, by Sharon Cho and Grant Smith (Bloomberg) Oil steadied in New York after its biggest loss in three weeks, yet concerns lingered that a slowdown in global economic growth will erode fuel consumption. West Texas Intermediate futures were little changed near $59 a barrel, after losing 1.6 percent on Friday. A closely … Read more
Mar 25, 2019, by Lorcan Roche Kelly (Bloomberg) Vindication Special Counsel Robert Mueller’s 22-month inquiry found that there was no collusion with Russia during the 2016 campaign, and insufficient evidence to find President Donald Trump obstructed justice, Attorney General William Barr wrote in a letter to Congress. The findings are a boost for the president who … Read more
RED DEER, Alta. — The leader of Alberta’s United Conservative Party notes that many people in the province support secession from Canada, based on what he calls “a real tension that runs through the hearts of many Albertans.”
The party states in a new…
Mar 22, 2019, by Robert Tuttle (Bloomberg) Trying to fix the crude market has been hard enough for OPEC. Alberta’s go at it is proving a bigger challenge than the oil-rich Canadian province anticipated. Since mandatory production cuts were announced in December, local heavy crude has gone from too cheap to too expensive. While pipelines … Read more
Click here to see the specifications for Sour Horizontal Separator (3 Available), 120″ 450psi 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
Project Overview The Algar Lake Project involved the drilling of SAGD production wells and the construction of a facility capable of producing 5,000 – 8,000 barrels a day of bitumen South-West of Ft. McMurray. The facility was an implementation of Grizzly’s Advanced, Relocatable, Modularized, Standardized (ARMS) central processing facility (CPF) for Steam-Assisted Gravity Drainage (SAGD). … Read more
By: Mary Croft Kicker Video: Cold leads are an unfortunate reality in this business climate. Leads in the energy business can grow cold because the potential client or customer is losing interest, because they are busy, because they are considering the competition, or for any of a number of other reasons. There are a … Read more
In the lead-up to the Operational Excellence in Energy, Chemicals & Resources Summit, our partners at IQPC had the pleasure of catching up with Joy Romero, VP of Technology & Innovation at CNRL. Joy provides insight into CNRL’s use of ‘game changing’ technologies as well as their current carbon conversion initiatives. DOWNLOAD THE FULL INTERVIEW … Read more
A complete natural gas generating package designed to export power into the grid or supply power behind the fence to your facilities. It is a complete package that includes turbine, switchgear, synchronous generator and anti-islanding hardware. High voltage switchgear in a separate room in building Sound attenuated building Includes two transformers Additional Information Make: Solar … Read more
GeoConvention is proud to announce an amazing line up for our Value of Geosciences panel, Moderated by former Wildrose Party leader and current Talk Show Host Danielle Smith, hosted the afternoon of May 15th at the Telus Convention Center: Jen Russel-Houston, Geologist, Vice President, Geosciences, Osum Oil Sands Corp. Wayne Foo, Geologist, President and CEO, Parex Resources … Read more
PORT AUX BASQUES, N.L. — The Canadian Coast Guard is monitoring a tanker carrying eight million litres of refined petroleum and additional fuel that lost steering off the southwest coast of Newfoundland on Thursday morning.
The Jana Desgagnes sustain…
NDP competitive in Edmonton, but well behind elsewhere in the province March 22, 2019 – The provincial election campaign in Alberta begins with the New Democratic Party trailing the opposition United Conservative Party by a wide margin, according to new public opinion polling data analyzed by the non-profit Angus Reid Institute and donated by Angus Reid Global … Read more
VANCOUVER — A British Columbia Court of Appeal hearing on proposed provincial legislation that would impact the Trans Mountain pipeline expansion has concluded and a panel of five judges has reserved its decision.
B.C. filed the reference case to ask …
Mar 24, 2019, by Julian Lee (Bloomberg Opinion) What do OPEC and the Federal Reserve have in common, other than being on the receiving end of angry tweets from President Donald Trump? They are both having a particularly terrible time assessing the outlook for demand, and this is making setting policy exceptionally fraught. The Fed must … Read more
Mar 22, 2019, by Robert Tuttle (Bloomberg) In the golden hills of California’s San Joaquin Valley, oil jacks pump what is among the world’s most expensive types of crude. Buena Vista’s posted price is $70.53 a barrel, more than $10 above West Texas Intermediate futures and almost $3 more than Brent. The oil is also … Read more
Mar 22, 2019 by Ben Foldy (Bloomberg) Oil fell the most in three weeks as disappointing economic data sowed new fears of slowing global growth. West Texas Intermediate futures in New York dropped 1.6 percent Friday, paring the week’s gain to less than 1 percent. Weaker than expected manufacturing data from Germany and France cast … Read more
ALBUQUERQUE, N.M. — One of the largest coal-fired power plants in the West will close this year as planned after a Navajo Nation company ended its long-shot bid Friday to acquire it.
The Navajo Generating Station has operated for decades in northeaste…
HOUSTON — The Latest on a fire that had been burning at a Texas petrochemical storage facility (all times local):
5:15 p.m.
The company that operates a Houston-area chemical plant says a new fire has been extinguished about an hour after it began.
Int…
EDMONTON — The leader of Alberta’s United Conservatives says he would call an inquiry into foreign-funded anti-oilsands campaigns if he were to become premier after the April 16 election.
Jason Kenney calls it a fight-back strategy against those who s…
CALGARY — The National Energy Board says crude-by-rail exports in January fell compared with December, but remained more than twice as high as 12 months earlier.
The federal agency reports an average of 325,500 barrels per day of oil was exported by r…
(Reuters) – U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row to its lowest in nearly a year as independent producers follow through on plans to cut spending on new drilling with the government cutting its growth forecasts for shale output. Drillers cut nine oil … Read more
Canada’s drilling rig count decreased by 56 actively drilling rigs according to data collected by Baker Hughes for the week ending March 22nd, 2019. From one week ago, Alberta rig counts decreased 31 to 85 and the Saskatchewan rig counts decreased 24 to 3. Oil drilling decreased 49 to 49 and gas decreased 7 to … Read more
Originally published by APTN THE FIRST NATIONAL INDIGENOUS BROADCASTER IN THE WORLD Stop killing pipelines and prosperity, say Indigenous leaders National News | March 21, 2019 by Dennis Ward Dennis Ward APTN News Indigenous leaders who represent more than 130 communities involved in the oil and gas sector were on Parliament Hill Thursday to speak out about two proposed … Read more
March 21, 2019 The Canadian Press CALGARY – The leader of Alberta’s United Conservatives says he believes humans are causing climate change and action is needed to tackle it, but those who disagree still have a place in the party. “There’s a spectrum of views about this. This is not a party with some kind of … Read more
FOR IMMEDIATE RELEASE: PSAC Expresses Profound Disappointment with Federal Budget CALGARY, AB – The Petroleum Services Association of Canada (PSAC) today expressed its profound disappointment with the federal budget announced yesterday with no measures to address Canada’s competitiveness issues to encourage private capital investment and stimulate job creation. Gary Mar, President and CEO of … Read more
FORT ST. JOHN, British Columbia, March 21, 2019 (GLOBE NEWSWIRE) — Summary of financial results (thousands of dollars except per share amounts) Three months ended December 31 Year ended December 31 2018 2017 2018 2017 (unaudited) Revenues $ 137,595 $ 26,897 $ 191,060 $ 103,980 … Read more
CALGARY, Alberta, March 21, 2019 (GLOBE NEWSWIRE) — GRANITE OIL CORP. (“Granite” or the “Company”) (TSX:GXO)(OTCQX:GXOCF) is pleased to release its financial results for the year ended December 31, 2018. Granite has filed its audited financial statements for the year ended December 31, 2018, and related Management Discussion & Analysis with the applicable Canadian securities … Read more
CALGARY, Alberta, March 22, 2019 (GLOBE NEWSWIRE) — ClearStream Energy Services Inc. (“ClearStream”, TSX: CSM and CSM.DB.A) today announced its results for the three and twelve months ended December 31, 2018. “EBITDAS” and “Adjusted EBITDAS” are not standard measures under IFRS. Please refer to the “Non-IFRS measures” section of this release for a description of … Read more
CALGARY, Alberta, March 22, 2019 (GLOBE NEWSWIRE) — TransGlobe Energy Corporation (AIM & TSX: “TGL” & NASDAQ: “TGA”) (“TransGlobe” or the “Company”) announces that stock options (“Options”) were granted on March 20, 2019 to the President and Chief Executive Officer, the Vice President Finance and Chief Financial Officer, the Executive Vice President and the Vice President … Read more
HELSINKI (Reuters) – Norway’s capital Oslo will become the first city in the world to install wireless charging systems for electric taxis, hoping to make recharging quick and efficient enough to speed the takeup of non-polluting cabs. The project will use induction technology, with charging plates installed in the road at taxi ranks linking to … Read more
Mar 22, 2019, by Heesu Lee and Grant Smith (Bloomberg) Oil fell amid growing concerns of an economic slowdown, yet remained on track for a third weekly increase as OPEC presses on with supply cutbacks. Futures retreated as much as 1.1 percent in New York as German 10-year bond yields dropped below zero for the … Read more
Mar 22, 2019, by Lorcan Roche Kelly (Bloomberg) Two weeks European Leaders gave British Prime Minister Theresa May another two weeks to work out what she wants to do with Brexit. Under the deal agreed, if she cannot get lawmakers in London to endorse her withdrawal agreement she will have until April 12 to decide … Read more
CALGARY — The leader of Alberta’s United Conservatives is promising a referendum on equalization if there’s no major progress on market-opening pipelines.
Jason Kenney says if he becomes premier the matter would be put to voters on Oct. 18, 2021 — the…
CALGARY — It was back to the future at a United Conservative campaign rally in Calgary where leader Jason Kenney stirred up the crowd by talking about the old national energy program.
Kenney reminded supporters last night that the NEP brought in by fo…
Mar 21, 2019, by Aaron Clark (Bloomberg) In the $40 trillion global oil-trading market, the smallest clue can be worth millions. Take the number of people working at a refinery: Outside contractors are brought in for routine maintenance or to handle accidents that could limit demand for crude oil or curb the supply of fuels. … Read more
LONDON (Reuters) – Canada-based Carbon Engineering has exceeded its financing target which will enable it to deploy its first commercial operation to remove carbon dioxide directly from the air, it said on Thursday. Founded in 2009, Carbon Engineering developed technology that captures carbon dioxide (CO2) directly from the atmosphere and converts it into low-carbon fuels … Read more
CALGARY — An unexpected late bidding war for the right to sponsor veteran driver Troy Dorchester helped push the annual Calgary Stampede chuckwagon canvas auction to a $47,000 higher total than last year.
Sponsorship bids for the 36 rigs competing at …
Alberta Senator Doug Black asked the Minister of Transport Marc Garneau what other ways there are to get Alberta’s oil to market. Check out the answer
CALGARY — The leader of Alberta’s United Conservatives says he believes humans are causing climate change and action is needed to tackle it, but those who disagree still have a place in the party.
“There’s a spectrum of views about this. This is not a…
FORT ELLIS, N.S. — Alton Gas says protesters were expected to remove their belongings from its Nova Scotia property Thursday evening as a temporary injunction imposed Monday is finalized over the next few days.
The company is planning to store natural…
VANCOUVER — Environmental legislation proposed by British Columbia is specifically targeting the Trans Mountain pipeline expansion and would significantly impact it, the project’s proponent and the Alberta government argued Thursday.
The B.C. Court of…
March 21, 2019 CNW CALGARY, March 21, 2019 /CNW/ – AltaGas Ltd. (AltaGas) (TSX:ALA) announced today that after careful consideration, David Cornhill, Founder of AltaGas and Chairman, has elected to step down on April 1, 2019 from the Chairman position. The new Chair, Pentti Karkkainen has been appointed by the Board of Directors, effective April … Read more
Sherri A. Brillon announces retirement CALGARY, Alberta, March 21, 2019 (GLOBE NEWSWIRE) — Encana Corporation (NYSE, TSX: ECA) today announced the appointment of Corey D. Code as Executive Vice-President & Chief Financial Officer, effective May 1, 2019. Sherri A. Brillon, who has served as Encana’s CFO since 2009, will be retiring at the end of … Read more
Mar 21, 2019, by Heesu Lee and Grant Smith (Bloomberg) Oil held near a four-month high after U.S. crude inventories plunged by the most since July, while Saudi Arabia pressed on with export cuts. Futures slipped 0.5 percent in New York, having closed above $60 a barrel on Wednesday for the first time since November. … Read more
Mar 21, 2019, by Lorcan Roche Kelly (Bloomberg) Dovish surprise The Fed went beyond the market’s most dovish hopes, signaling it will extend a pause on rates through the year, and increasing the odds its next move will be a cut. The initial reaction in stocks was to rally, but that faded before the end of the session as investors … Read more
CALGARY — Chuckwagon drivers and sponsors are hoping for the best as clouds of political and energy industry uncertainty gather ahead of the Calgary Stampede canvas auction tonight.
The success of the annual event is considered a bellwether for the Ca…
by Theophilos Argitis (Bloomberg) — Prime Minister Justin Trudeau’s government released its 2019-20 budget Tuesday in Ottawa, using a windfall in new revenue to increase spending while leaving Canada’s fiscal track largely in line with what it projected in November’s fiscal update. Here are the highlights. New Measures The government introduced C$22.8 billion ($17 billion) in new … Read more
VANCOUVER — A lawyer for the federal government says British Columbia is overreaching with an unconstitutional effort to regulate oil and gas shipments through its lands and waters.
The B.C. Court of Appeal is hearing a reference case that asks if the…
March 20, 2019 The Canadian Press CALGARY – A study from the Canadian Energy Research Institute suggests the oil and gas industry could save billions of dollars if governments implement optimized methane emission reduction regulations instead of requiring the same level of cuts at every emitting source. The federal government has proposed regulations for methane emission … Read more
The Alberta government Monday delivered its throne speech for 2019. Unfortunately, the speech seemed utterly disconnected from the fiscal and economic challenges facing Alberta and the corresponding need for an ambitious policy response. The speech’s complacency and absence of vision for positive policy change were remarkably tone deaf. It’s understandable that a sitting government heading … Read more
Mar 20, 2019, by Alex Longley and Sheela Tobben (Bloomberg) For a glimpse into what the global oil price might look like one day, a good place to look is the Dutch port of Rotterdam. There, at a key hub for Europe’s oil trading and refining, crude imported from the U.S. is determining the price … Read more
March 20, 2019 Canada’s battered oil industry is rooting for the opposition in next month’s election in energy heartland Alberta, investors said on Wednesday, but a brewing scandal involving the party’s leader could derail its hopes of an easy victory. Alberta contains Canada’s vast oil sands, home to the world’s third largest crude reserves. With … Read more
NEW YORK (Reuters) – U.S. crude oil stockpiles last week fell by nearly 10 million barrels, the most since July, boosted by strong export and refining demand, the Energy Information Administration said on Wednesday. Refined product inventories also fell more than expected. Crude inventories fell by 9.6 million barrels in the week to March 15, … Read more
Mar 20, 2019, by Doug Alexander (Bloomberg) Top brass at Canadian companies may see some of their wealth chipped away, thanks to stock-option changes in the latest federal budget. Canada is reining in a tax break on employee stock options by introducing a cap that it expects will impact executives of major, established companies. Key … Read more
Mar 20, 2019, by Josh Wingrove (Bloomberg) The head of the Montreal-based construction giant at the center of a political firestorm warned the company remains undervalued, is vulnerable to a takeover and at risk of shedding jobs in Canada. Neil Bruce, president and chief executive officer of SNC-Lavalin Group Inc., said Wednesday that Canadian prosecutors … Read more
CALGARY — A study from the Canadian Energy Research Institute suggests the oil and gas industry could save billions of dollars if governments implement optimized methane emission reduction regulations instead of requiring the same level of cuts at eve…
EDMONTON — Alberta NDP Leader Rachel Notley has kicked off her second day of campaigning with a promise to get more value out of the province’s oil and gas products.
She announced the plan at an Edmonton-based fabrication and engineering company.
It a…
Calgary, Alberta–(Newsfile Corp. – March 19, 2019) – Divestco Inc. (TSXV: DVT) (“Divestco” or the “Company“) is pleased to announce that its Board of Directors has appointed Steve Sinclair-Smith, the Company’s current Chief Operating Officer, as a new director of the Company. Mr. Sinclair-Smith has been an integral part of the Divestco team since 2003 … Read more
HOUSTON — Crews have extinguished a fire that’s burned for days at a Houston-area petrochemicals storage facility.
International Terminals Company says the blaze in Deer Park was extinguished as of 3 a.m. Wednesday. The fire began Sunday at the facili…
Trudeau’s broken balanced budget promise will cost us $100 billion and counting by Aaron Wudrick, Federal Director (This column originally appeared in the Toronto Sun) Most people don’t expect their governments to be perfect. But they do expect governments to make some effort to honour commitments, be straight with taxpayers and make the best of circumstances … Read more
March 20, 2019 | Source: InPlay Oil Corp. CALGARY, Alberta, March 20, 2019 (GLOBE NEWSWIRE) — InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) announces 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 effective December … Read more
Mar 20, 2019, by Liam Denning (Bloomberg Opinion) One pocket-sized symbol of globalization is the iPhone; that California-by-way-of-China apotheosis of ocean-spanning supply chains. Alternatively, there’s the 41,000-tonne USS Kearsarge, an amphibious assault ship currently deployed in the U.S. Navy’s Fifth-Fleet area, which takes in such tourist traps as the Strait of Hormuz and the waters off Yemen and the Horn … Read more
Mar 19, 2019, by Julian Lee (Bloomberg) OPEC members have done just about enough to bring oil production into line with the world’s need for their crude in 2019, but they will have to keep the restraint going throughout the year, just to prevent stockpiles from rising. To drain them further, as Saudi Energy Minister Khalid … Read more
Mar 19, 2019 by Kevin Orland (Bloomberg) Alberta Premier Rachel Notley said a provincial election will be held on April 16, kicking off a battle for control of one of the world’s top oil-producing jurisdictions. Notley’s center-left New Democratic Party swept to power in 2015, ending more than four decades of conservative rule in Alberta. … Read more
Mar 20, 2019, by Lorcan Roche Kelly (Bloomberg) Decision time The Federal Open Market Committee publishes its latest monetary policy declaration at 2:00 p.m. Eastern Time, along with updated economic forecasts that are expected to show policy makers now see only one rate hike this year. No change in interest rates is expected today. Investors will be intensely focused on … Read more
Mar 20, 2019, by Sharon Cho and Alex Longley (Bloomberg) Oil’s rally stuttered as uncertainty over the status of trade negotiations between the U.S. and China stoked concerns over global economic growth. Futures for May fell as much as 1.2 percent in New York. China was said to be pushing back against American demands, raising … Read more
March 20, 2019 | Source: Pipestone Energy Corp. Pipestone Energy Capital Program Pipestone Energy 5 Quarter Capital Program Overview (Q4 2018 – Q4 2019) Pipestone Energy Corp. CALGARY, Alberta, March 20, 2019 (GLOBE NEWSWIRE) — (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) is pleased to provide an operational update as well as updated reserves and resources … Read more
Mar 19, 2019, by Josh Wingrove and Theophilos Argitis (Bloomberg) Justin Trudeau unveiled a pre-election budget littered with as much new spending for key voter groups as he could deliver without sacrificing the government’s fiscal credibility. Trudeau’s finance minister, Bill Morneau, detailed his fourth fiscal plan Tuesday in Ottawa, the government’s last before an October … Read more
March 19, 2019 Globe Newswire CALGARY, Alberta, March 19, 2019 (GLOBE NEWSWIRE) — Cardinal Energy Ltd. (“Cardinal” or the “Company“) (TSX: CJ) is pleased to announce its operating and financial results for the fourth quarter and year ended December 31, 2018. 2018 FINANCIAL HIGHLIGHTS Production for 2018 averaged 20,858 boe/d, an 11% increase over 2017. Fourth … Read more
(John Kemp is a Reuters market analyst. The views expressed are his own) * Chartbook: tmsnrt.rs/2CtTfR0 By John Kemp LONDON, March 19 (Reuters) – Investors seem to be betting history will repeat itself, with the Federal Reserve cutting interest rates to keep the U.S. expansion going, just as it did in 1998, producing one final … Read more
NEW YORK (Reuters) – Oil producers in Canada have jumped on an opportunity to lock in revenues for 2019 and 2020 as average crude futures for those years have soared over 20 percent to their highest levels this year, sources familiar with the deals said. Brazil’s state-run oil giant Petróleo Brasileiro SA was also executing … Read more
Mar 19, 2019, by Kevin Orland (Bloomberg) — As Canada’s oil producers limp along, hamstrung by pipeline bottlenecks that have hurt prices for their crude, the nation’s gas industry is working on a flurry of export and chemicals projects to avoid the same fate. Canada’s natural gas has long sold at a discount to the … 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 to receive our Wednesday Word to the Wise in your inbox, subscribe here. This week let’s take a look at expiring lands. According to AssetBook … Read more
Over 250 operations leaders will gather in Calgary at the Operational Excellence in Energy, Chemicals & Resources Summit this June, 4-6 to share best practice and discuss the latest strategies and tools to enhance efficiency, reliability, safety, and drive Operational Excellence to the frontline. More than 60 industry innovators are confirmed to speak at this … Read more
First Nations-led initiative aims to buy a majority of Trans Mountain Pipeline By Jennifer Allford, for the Haskayne School of Business Haskayne School of Business professor Harrie Vredenburg, left, is working alongside Gregory John, a University of Calgary alumnus, and other team members on the First Nations-led initiative to buy a majority of Trans Mountain … Read more
The theme of this year’s conference is ?Empowering Automation Occupations? and towards that end the committee has gathered a range of papers to help every member of the automation community increase their skills and knowledge in key areas of change in our continuously evolving industry. The conference creates a platform for automation professionals to learn from real-world scenarios … Read more
Toronto, ON – Effective March 5, 2019. John Brooks Company will assume distribution rights across Canada for several SPX Flow brands including Pneumatic Products Corporation (“PPC”), APV Industrial Heat Exchangers and Dollinger & Plenty Filtration products. Additionally, several of the SPX Flow employees previously associated with these SPX Flow brands and product lines have joined … Read more
Due to the demand for exhibit space at GeoConvention 2019, additional exhibition space has just been added! Now, more than ever, GeoConvention is the place to have direct access to key decision makers. Come be part of where oil finders and decision makers gather in the hub of the Canadian Oil and Gas market. We … Read more
HOUSTON — Officials said Tuesday that they’re not sure when a two-day-old fire at a Houston-area petrochemicals storage facility will burn itself out, but they are confident that the air quality is safe, despite the huge plume of smoke coming from the…
Pre-election budget not only fails to balance budget as promised, but sees further borrowing and no plan to eliminate deficits Federal debt on track to rise by $127 billion by 2023 – a full $100 billion more than the 2015 Liberal plan Higher than expected revenues are more than offset by higher spending OTTAWA, ON … Read more
VANCOUVER — A lawyer representing British Columbia says proposed changes to an environmental law won’t allow the province to refuse to provide a permit to a pipeline operator for no reason.
B.C.’s Court of Appeal is hearing a reference case that asks …
The Luncheon is the Association’s most significant annual event and represents an opportunity to connect with your fellow CAODC members. We’re happy to announce Ellis Ross, MLA for Skeena and former Chief Councilor of the Haisla Nation, as our keynote speaker, as well as MP Shannon Stubbs, and Mark Milke as Fireside Chat guests. To … Read more
Spring break-up is around the corner … are you prepared? Check out their new matting video to see how Paradox gets it done!
Mar 19, 2019 by Alaric Nightingale (Bloomberg) The oil industry needn’t be too concerned — for now — about how Tesla Inc.’s electric cars are denting demand. China and its bus fleet could be more of a worry. By the end of this year, a cumulative 270,000 barrels a day of diesel demand will have … Read more
SHERMAN OAKS, Calif., March 18, 2019 (GLOBE NEWSWIRE) — Petroteq Energy Inc. (“Petroteq” or the “Company”) (TSXV: PQE; OTC: PQEFF; FSE: PQCF), a fully integrated oil and gas company, announces oil sales. Petroteq is reporting that, on March 18, 2019, oil production sales have commenced at the Asphalt Ridge facility. Two loads of 250 barrels … Read more
THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS CALGARY, Alberta, March 19, 2019 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on the results of its December 31, 2018 Reserves Assessment and Evaluation of its … Read more
LONDON (Reuters) – More ports around the world are banning ships from using a fuel cleaning system that pumps wastewater into the sea, one of the cheapest options for meeting new environmental shipping rules. The growing number of destinations imposing stricter regulations than those set by the International Maritime Organization (IMO) are expected to be … Read more
Mar 19, 2019, by Dan Murtaugh (Bloomberg) Electric vehicles are taking ever-bigger bites out of global oil demand, but they haven’t yet caught up with the growing size of the pie. Gasoline and diesel displacement by electric vehicles will grow by 96,000 barrels a day this year, BloombergNEF said in a report Tuesday. That brings … Read more
Mar 19, 2019, by Tsuyoshi Inajima and Alex Longley (Bloomberg) Oil in New York rose to the highest level this year after OPEC and its partners agreed to go beyond their pledged supply curbs in the coming months. Futures gained as much as 0.7 percent after advancing 1 percent on Monday. A committee of the … Read more
Mar 18, 2019, by Scott Deveau and Kevin Orland (Bloomberg) TransAlta Corp. jumped Monday after a pair of activist investors said they planned to push for changes at the Canadian power producer, including potential board changes. Mangrove Partners and C. John Wilder’s Bluescape Energy Partners disclosed their 10 percent stake in the company late Friday. … Read more
Mar 19, 2019, by Lorcan Roche Kelly (Bloomberg) Oil holds Crude held near the highest level this year after OPEC and its partners committed to continue production cuts until at least June. A barrel of West Texas Intermediate for April delivery was trading at $59.30 at 5:50 a.m. Eastern Time. There’s a lot going on in the … Read more
(Reuters) – Canada Pension Plan Investment Board is expanding its presence in the North American natural gas market through a $3.8 billion joint venture with U.S. energy firm Williams Cos Inc, which will hold pipeline assets in the Marcellus and Utica shale basins, the biggest gas-producing region in the United States. Canada’s largest pension fund … Read more
Deborah Yedlin · CBC News · Posted: Mar 17, 2019 Mark Little of Suncor was one of few Canadian oil executives to attend CERAweek, a global energy conference held annually in Houston, Texas. (CERAweek by IHS Markit) If there was one takeaway from attending the annual CERAWeek conference in Houston, it is this: Canada is at risk of becoming … Read more
EDMONTON — The Alberta government has announced another easing of restrictions on oil production, saying the amount that can be produced will increase in May by 25,000 barrels per day and another 25,000 barrels per day in June.
The province mandated p…
March 18, 2019 Reuters Alberta on Monday opened its final legislature session before a provincial election, which polls suggest could see the left-leaning New Democratic Party cede power to the United Conservative Party opposition.Premier Rachel Notley has not yet set a date for the election, but Alberta law states it must be held between March 1 … Read more
March 18, 2019 Business Wire Strategic partnership between Williams and CPPIB to support ongoing growth and Northeast region optimization Williams consolidates 100% interest in Utica East Ohio Midstream (“UEO”) and assumes operatorship Williams expects to receive approximately $1.34 billion in exchange for a 35% interest in a combined UEO-Ohio Valley Midstream (“OVM”) joint venture, providing Williams … Read more
St. Albert, Alberta–(Newsfile Corp. – March 15, 2019) – Enterprise Group, Inc. (TSX: E) (“Enterprise,” or “the Company”), a consolidator of services to the energy sector; focused primarily on construction services and specialized equipment rental, today released its Q4 2018 and FY2018 results. Three months December 31, 2018(2) Three months December 31, 2017 restated(3) Year … Read more
Shane McNeil, BNN Bloomberg Canada’s energy sector could get a shot in the arm if the federal election results in a change in government, according to an economist with Macquarie Group. David Doyle, Macquarie Group North American economist and Canadian market strategist, said investor sentiment in the country’s oil patch could see an uptick should … Read more
Mar 18, 2019, by Brian Eckhouse (Bloomberg) Elon Musk recently declared 2019 as the “year of the solar roof.” The Tesla Inc. chief executive officer may be right — but not in the way he’s expecting. While the automaker tries to ramp up production of its textured glass, solar cell-embedded rooftop tiles, another group of … Read more
March 18, 2019 | Source: Freehold Royalties Ltd. CALGARY, Alberta, March 18, 2019 (GLOBE NEWSWIRE) — Freehold Royalties Ltd. (TSX: FRU) (“Freehold” or the “Company”) announces changes to its executive management team effective today, including the resignation of Darren Gunderson, Vice-President, Finance and Chief Financial Officer and the appointment of Alan Withey as Interim Vice-President, Finance and … Read more
This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For important information with respect to such forward-looking information and statements and the further assumptions and risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in this news release. All values in Canadian … Read more
Mar 18, 2019, by Dina Khrennikova, Zulfugar Agayev and Annmarie Hordern (Bloomberg) Saudi Arabia led fellow members of the OPEC+ coalition to reaffirm their commitment to output cuts, but conceded they should defer until June the decision on whether to extend the curbs. A committee of the most influential members in the 24-nation alliance, which … Read more
Mar 18, 2019, by Tsuyoshi Inajima and Alex Longley (Bloomberg) Oil slipped from near a four-month high as OPEC and its allies met in Azerbaijan Monday and recommended deferring a decision on whether to extend oil production cuts until June. Futures in New York fell as much as 0.8 percent after Saudi Arabia’s Energy Minister … Read more
Mar 18, 2019, by Samuel Potter (Bloomberg) Boeing scrutiny Shares of Boeing Co. are once again trading lower in the pre-market following a slew of headlines over the weekend. Ethiopia’s transport minister said flight-data recorders show “clear similarities” between the crashes of Ethiopian Airlines Flight 302 on March 10 and Lion Air Flight 610 last October. A person familiar with the 737 … Read more
Mar 18, 2019, by Theophilos Argitis (Bloomberg) Prime Minister Justin Trudeau delivers his fourth and final budget this week before Canada’s next election. The fiscal plan, to be unveiled Tuesday in the Ottawa legislature by Finance Minister Bill Morneau, comes with the economy in a soft patch, concerns building over the country’s competitiveness and the … Read more
By David Yager March 18, 2019 Success for the climate change movement will create the greatest financial disruption in history. In the drive to reduce then eliminate the use of fossil fuels, major oil and gas producing regions like Alberta will see their economies crushed unless they can figure out how to something else in … Read more
Scovan Engineering is proud to announce our partnership with Acceleware for their Radio Frequency (RF) heating technology to facilitate cost-effective and environmentally friendly extraction of heavy oil and bitumen. This partnership demonstrates our commitment to new technology advancements and innovative solutions in the oil and gas sector to provide a cleaner more sustainable energy future. … Read more
FMI launches the first 2019 edition of the FMI Quarterly, a collection of research and expert perspective articles covering the industry’s most important issues. This edition highlights key insights on how firms can plan and prepare for an inevitable economic downturn. While FMI is not calling for a recession in 2019, we do expect construction … Read more
STEP Energy Services leverages modern technology that allows operators to make better decisions in real-time. The company has Canada’s longest interventional coiled tubing (CT) conveyed fiber optic capability, at 7,100 meters total length. STEP-IQ fiber optic solutions are used for production logging and injection profiling to help optimize wells. Applications, such as frac monitoring to … Read more
Click here to see the specifications for Kohler Generator Package (with diesel backup), 275 kW 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
A Commentary by Wendy Ferguson When you work in the area of Human Resources you inadvertently become involved with every people issue imaginable. The broad and impersonal definition of HR is ‘the dealing with personnel of an organization, especially when regarded as a significant asset’. I certainly agree with that, but to me it has … Read more
JUSTIN TANG/THE CANADIAN PRESS Quebec will receive $13.1-billion in equalization payments for 2019/20 – a $1.4-billion increase – while Alberta, Saskatchewan and Newfoundland and Labrador continue to be left out even though Canada’s oil-producing provinces are facing deficits and hard times. The three energy-producing provinces petitioned Ottawa last year to rework the federal transfer formula … Read more
VANCOUVER — British Columbia’s Court of Appeal will consider the question of provincial powers over the future of the Trans Mountain pipeline expansion project during a five-day hearing that starts today.
The B.C. government’s reference case asks the …
Mar 15, 2019, by Kevin Orland (Bloomberg) Exxon Mobil Corp. is delaying a C$2.6 billion ($1.9 billion) oil-sands project in Canada by at least a year as the nation’s energy industry grapples with a shortage of pipeline space and government-mandated production cuts. Exxon’s Canadian subsidiary, Imperial Oil Ltd., had originally planned to bring the 75,000-barrel-a-day … Read more
Mar 17, 2019, by Grant Smith, Salma El Wardany and Dina Khrennikova (Bloomberg) OPEC and its allies have much work to do to balance global oil markets and are prepared to do what’s necessary in the second half, Saudi Energy Minister Khalid Al-Falih said. The 24-nation coalition known as OPEC+ needs to “stay the course” … Read more
Mar 15, 2019, by Kevin Orland (Bloomberg) TransCanada Corp., the developer of the controversial Keystone XL oil pipeline, lost a bid to circumvent a federal judge’s ruling that has further delayed the project. The U.S. Court of Appeals for the Ninth Circuit denied TransCanada’s request for a stay on a Montana federal judge’s ruling that … Read more
ST. JOHN’S, N.L. — Work is underway to recover the faulty flowline connector believed to be responsible for an oil spill off the coast of Newfoundland last fall.
Husky Energy says subsea operations to retrieve the connector and plug the flowline bega…
VANCOUVER — British Columbia’s Court of Appeal will consider a key question regarding provincial powers in the political battle over the future of the Trans Mountain pipeline expansion project during a five-day hearing that starts Monday.
The B.C. gov…
March 15, 2019 CNW CALGARY, March 15, 2019 /CNW/ – Connacher Oil and Gas Limited (“Connacher” or the “Company”) announces that it has obtained an order from the Alberta Court of Queen’s Bench extending the period of the Court-ordered stay of proceedings against Connacher under the Companies’ Creditors Arrangement Act(“CCAA”) until June 28, 2019. The Company has been operating under the protection … Read more
OTTAWA — The National Energy Board says Canada’s existing export pipelines are running at maximum efficiency and the only way to realistically get more oil to market on pipelines is to build more of them.
The board is responding today to questions pos…
Canada’s drilling rig count decreased by 28 actively drilling rigs according to data collected by Baker Hughes for the week ending March 15th, 2019. From one week ago, Alberta rig counts decreased 21 to 116 and the Saskatchewan rig counts decreased 6 to 27. Oil drilling decreased 20 to 98 and gas decreased 8 to … Read more
March 15, 2019 Reuters The Canadian heavy oil differential widened slightly compared with the West Texas Intermediate (WTI) benchmark on Friday: * Western Canada Select (WCS) heavy blend crude for April delivery in Hardisty, Alberta, last traded at $10.00 a barrel below WTI crude futures , widening marginally from Thursday’s settle of $9.95 a barrel below … Read more
March 15, 2019 Reuters Canada’s oil producers lowered their capital expenditures for 2019 due to volatility in crude prices and mandatory production cuts in the province of Alberta.Imperial Oil Ltd said on Friday it would delay its C$2.6 billion Aspen oil sands project in Alberta by about a year after the provincial government imposed output cuts … Read more
March 15, 2019 Some Canadian oil executives blame higher crude prices from mandated production curbs for hurting their refining margins and depressing shipments of Alberta crude to U.S. customers.The government of Alberta last year mandated output cuts of 325,000 barrels per day (bpd) to help alleviate a supply glut that had weighed on crude prices … Read more
Mar 15, 2019 by Ben Foldy and Simon Casey (Bloomberg) Oil gained for a second straight week as OPEC assured traders it’s committed to culling supplies ahead of a key meeting with allies in Azerbaijan this weekend. Futures advanced 4.4 percent this week in New York and settled Friday just pennies off a four-month high. … Read more
With the current trend of drilling with Oil Based Mud, there is always a demand for innovative products that can withstand harsh Canadian winters and deliver on performance in the field. Di-Corp has partnered with Gumpro to meet these challenges. With extensive laboratory research and development to create a low pour point product, Gumpro has … Read more
March 15, 2019 Toscana Energy Income Corporation CALGARY, Alberta, March 15, 2019 (GLOBE NEWSWIRE) — Toscana Energy Income Corporation (“Toscana” or the “Corporation”) (TSX: TEI) announces financial and operating results for the fourth quarter ended December 31, 2018. Financial and operating results: This news release summarizes information contained in the Audited Consolidated Financial Statements and Management’s Discussion … Read more
WINNIPEG — Investigators have reduced their tally of how much oil spilled when a Canadian National freight train derailed last month on a western Manitoba ranch.
Earlier this month, the Transportation Safety Board said at least one million litres of p…
(Reuters) – U.S. energy firms this week reduced the number of oil rigs operating for a fourth week in a row with drilling slowing to its lowest in nearly a year, prompting the government to cut crude output growth forecasts. Drillers cut one oil rig in the week to March 15, bringing the total count … Read more
by Maureen McCall Alberta Senator Doug Black gave a thought provoking breakdown of the current challenges to the Canadian Energy Industry including Bill C-48 and Bill C-69 at the Petroleum Accountants Society of Canada “Insights 2019” event at the Petroleum Club yesterday. Senator Black pointed out many ironies in the events of the last ten … Read more
March 15, 2019 | Source: High Arctic Energy Services Inc. NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW CALGARY, Alberta, March 15, 2019 (GLOBE NEWSWIRE) — High Arctic Energy Services Inc. (TSX: HWO) – “High Arctic” … Read more
March 14, 2019 CNW TSX: BXE CALGARY, March 14, 2019 /CNW/ – Bellatrix Exploration Ltd. (“Bellatrix”, “we”, “us”, “our” or the “Company”) (TSX: BXE) announces its financial and operating results for the fourth quarter and year ended December 31, 2018. This press release contains forward-looking statements. Please refer to our cautionary language on forward-looking statements and the other matters … Read more
Mar 14, 2019, by Joe Carroll (Bloomberg) Permian shale oil explorer Legacy Reserves Inc. lost more than half its market value after announcing plans to explore “strategic alternatives” including selling all or part of the company. The stock dropped as much as 56 percent on Thursday to 59 cents for the biggest intraday collapse in … Read more
Mar 15, 2019, by Tsuyoshi Inajima and Grant Smith (Bloomberg) Oil headed for a second weekly gain as the world’s top crude producers are scheduled to discuss extending their pledged output curbs to avert a global glut. Futures in New York traded near a four-month high, on course for a 4.4 percent weekly advance. OPEC’s … Read more
Mar 15, 2019, by Liam Denning (Bloomberg Opinion) CERAWeek has long been something of a safe space for the oil industry, where delegates trade gossip, do a little business and speculate over drinks and ballroom chicken where their beloved, if mercurial, market might be headed. This year’s get-together, the 38th and organized as usual by IHS Markit, was called … Read more
Mar 15, 2019, by Lorcan Roche Kelly (Bloomberg) Maybe next month A meeting between President Donald Trump and President Xi Jingping is now unlikely to take place until April, at the earliest, according to three people familiar with the matter. Trump said there would be news on a trade deal “one way or the other” … Read more
March 14, 2019 CNW TSX: BXE CALGARY, March 14, 2019 /CNW/ – Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX: BXE) announces 2018 year end reserves, highlighted by 13% reserve growth and low cost reserve additions. Reserves at December 31, 2018 were independently evaluated by InSite Petroleum Consultants Ltd. (“InSite”). The evaluation encompasses 100% of Bellatrix’s oil and gas properties … Read more
March 14, 2019 Globe Newswire CALGARY, Alberta, March 14, 2019 (GLOBE NEWSWIRE) — Zargon Oil & Gas Ltd. (“Zargon” or the “Company”) (TSX:ZAR) has released its 2018 fourth quarter and full year financial results. Highlights from the fourth quarter and year ended Dec. 31, 2018 are provided below: HIGHLIGHTS FROM THE FOURTH QUARTER AND YEAR ENDED … Read more
CALGARY — Imperial Oil Ltd. says it has slowed the development of its Aspen in situ oilsands project because of uncertainty due to the Alberta government’s oil production curtailment program and other challenges. The Calgary-based company says the slowdown will likely result in a delay of at least one year. First production from the project … Read more
March 14, 2019 CNW CALGARY, March 14, 2019 /CNW/ – Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation“) (TSX: TWM) is pleased to announce that it has filed its annual consolidated financial statements and Management’s Discussion and Analysis (“MD&A“) for the year ended December 31, 2018. FOURTH-QUARTER AND FULL-YEAR 2018 FINANCIAL PERFORMANCE Despite a challenging industry environment, 2018 was a … Read more
LONDON (Reuters) – The oil market will flip into a modest deficit from the second quarter of this year, with OPEC possessing a hefty supply cushion to prevent any price rally in case of possible supply disruptions, the International Energy Agency said on Friday. The IEA, which coordinates the energy policies of industrialized nations, kept … Read more
HOUSTON (Reuters) – Royal Dutch Shell and its partners building a massive liquefied natural gas (LNG) export terminal in Western Canada will decide by 2025 whether to double its capacity, the head of the project said. The $31 billion LNG Canada project last October became the first major project in five years to be approved, … Read more
VICTORIA — British Columbia’s auditor general says there are almost 7,500 inactive oil and gas wells in the province that have not been properly decommissioned.
Carol Bellringer says in a report that contamination from oil and gas activity can affect …
CALGARY — The federal and Alberta governments are pledging almost $90 million to fund clean technology developments at major oilsands producer Canadian Natural Resources Ltd.
The commitments are expected to result in a total investment of $415 million…
CALGARY — An oil and gas industry representative says Canada is “falling behind” the U.S. and other nations in developing its rich Arctic natural resources because of a five-year moratorium on offshore drilling in the North put in place in 2016.
But N…
Mar 14, 2019, by Grant Smith and Javier Blas (Bloomberg) Four months ago, Saudi Arabia’s devotion to its decades-old oil partnership with the U.S. was stronger than ever. President Donald Trump was poised to choke off crude exports from the kingdom’s political nemesis, Iran. And the Saudis, shunned by other nations after the murder of … Read more
NEW YORK (Reuters) – U.S. crude oil stockpiles declined unexpectedly last week as output slipped from record highs and refining rates edged up, while gasoline stocks decreased and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories fell by 3.9 million barrels in the last week, compared with analysts’ expectations for an … Read more
Mar 13, 2019, by Joe Carroll and Javier Blas (Bloomberg) As President Donald Trump’s energy czar and former governor of the biggest source of American oil, Rick Perry had a startling response to the author of the Green New Deal: Let’s talk. Perry, in an appearance at the biggest North American energy conference on Wednesday, … Read more
Mar 14, 2019, by Lorcan Roche Kelly (Bloomberg) Crashes linked Evidence has emerged that the Boeing Co. 737 Max which crashed on Sunday may have experienced the same problems as the plane that went down five months ago off Indonesia. The Federal Aviation Authority cited similarities in the flight path of both planes when it … Read more
March 14, 2019 | Source: Petrus Resources Ltd. CALGARY, Alberta, March 14, 2019 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to report financial and operating results for the three and twelve month periods ended December 31, 2018 and to provide 2018 year end reserves information as evaluated by Sproule … Read more
Mar 14, 2019 by Grant Smith (Bloomberg) Oil erased gains after a U.S.-China meeting to end the nations’ trade war was said to have been pushed back. Futures fell in New York, erasing an earlier gain of 0.7 percent. A meeting between President Donald Trump and his Chinese counterpart Xi Jinping to sign an agreement … Read more
LONDON (Reuters) – OPEC on Thursday cut the forecast of global demand for its crude this year as rivals boost production, building a case to extend a supply-cutting deal with Russia and other allies beyond the first half of 2019. In a monthly report, the Organization of the Petroleum Exporting Countries said 2019 demand for … Read more
CALGARY — Crude-by-rail shipments from Western Canada fell in February to the lowest level since May of last year, according to Genscape.
The U.S. company, which monitors rail terminals handling about 80 per cent of typical volumes from Western Canada…
by Maureen McCall CN has been refining a technology that mixes and coats bitumen with polymer plastic, creating a pellet-shaped product called CanaPux that can be shipped in rail cars and will float if spilled into water. The railway is in discussions with the federal and Alberta governments, along with potential oilsands industry partners and … Read more
CALGARY — Natural Resources Minister Amarjeet Sohi says consultations with Indigenous groups about the stalled Trans Mountain pipeline expansion are progressing well and he still expects to wrap up the court-ordered process by May.
On a conference cal…
March 13, 2019 | Source: Delphi Energy Corporation photo-release Delphi Energy Corp Adjacent Drilling Activity Delphi Energy Corp Adjacent Drilling Activity Delphi Energy Corporation CALGARY, Alberta, March 13, 2019 (GLOBE NEWSWIRE) — Delphi Energy Corp. (“Delphi” or the “Company”) is pleased to announce its financial and operational results for the year ended December 31, 2018. 2018 HIGHLIGHTS Successfully executed a twelve … Read more
March 13, 2019 | Source: Pine Cliff Energy Ltd. CALGARY, Alberta, March 13, 2019 (GLOBE NEWSWIRE) — Pine Cliff Energy Ltd. (“Pine Cliff” or the “Company”) (TSX: PNE) is pleased to announce its year-end financial and operating results, the filing of its 2018 disclosure documents and an operations update on the oil well drilled in Q4 … Read more
March 13, 2019 Globe Newswire CALGARY, Alberta, March 13, 2019 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff”) (TSX: BIR) is pleased to announce that it has filed its audited annual financial statements and related management’s discussion and analysis (the “MD&A”) and its annual information form (the “AIF”) for the financial year ended December 31, 2018 (collectively, the “Annual … Read more
Mar 12, 2019, by Lucia Kassai and Joe Carroll (Bloomberg) It’s the second day of CERAWeek by IHS Markit, the annual week-long gathering in Houston of some of the energy industry’s biggest names. Today’s agenda includes African oil exploration, North American refining and the impact of electric cars on crude demand. Time stamps are Houston. … Read more
Mar 13, 2019, by Tsuyoshi Inajima and Grant Smith (Bloomberg) Crude rose for a third day after an industry report showed an unexpected drop in U.S. stockpiles just as planned cuts and disruptions to OPEC output are tightening supply. Futures in New York added as much as 1.1 percent. U.S. crude inventories declined by 2.58 … Read more
Mar 13, 2019, by Lorcan Roche Kelly (Bloomberg) FAA vs. the world The number of regulators around the world grounding flights of Boeing Co.’s 737 Max aircraft continues to grow, with Hong Kong becoming the latest to ban the jet from its airspace. The U.S. Federal Aviation Administration is becoming increasingly isolated in its position that it’s still safe … Read more
Rajeshni Naidu-Ghelani, BNN Bloomberg Rosenberg: Don’t be fooled by strong jobs data The next move from the Bank of Canada will be to cut to interest rates, according to David Rosenberg, who says the economy is just “one notch away” from a recession. Rosenberg, chief economist and strategist at Gluskin Sheff + Associates, told BNN Bloomberg … 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’re examining how to find working interest partners in the liquids-rich Duvernay. If you’d like to receive our Wednesday Word to the Wise in your inbox, … Read more
If you know Shane Nordin, co-owner and principle at Aurora Land Consulting you’d know the first part of the title of this article was his idea because that is just how he is, down to earth. He believes in going above and beyond for clients, treating his employees well and supporting small and local businesses, … Read more
The past decade has redefined the North American petroleum industry, starting with sweeping transformation in the upstream that has seen Canadian production nearly double while shale barrels have vaulted the U.S. back to the world’s top producer. The midstream has taken center stage as Alberta bursts at the seams, mandating an unprecedented provincial production cut … Read more
March 12, 2019 | Source: CES Energy Solutions Corp. CALGARY, Alberta, March 12, 2019 (GLOBE NEWSWIRE) — CES Energy Solutions Corp. (“CES” or the “Company”) (TSX: CEU) (OTC – Nasdaq Intl: CESDF) is pleased to report on its financial and operating results for the three and twelve months ended December 31, 2018. Further, CES announced today that it will pay … Read more
March 12, 2019 CNW CALGARY, March 12, 2019 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce its operating and financial results for the quarter ended December 31, 2018, and its year-end 2018 reserves, as evaluated by Sproule. Surge’s financial and operating results for the fourth quarter of 2018 include only a partial … Read more
March 12, 2019 Globe Newswire CALGARY, Alberta, March 12, 2019 (GLOBE NEWSWIRE) — GRANITE OIL CORP. (“Granite” or the “Company”) (TSX:GXO)(OTCQX:GXOCF) is pleased to present the summary results of the independent reserves report (the “Sproule Report”) prepared by Sproule Associates Limited (“Sproule”) with an effective date of December 31, 2018. In 2018, Granite invested approximately $10.2 … Read more
March 12, 2019 Globe Newswire CALGARY, Alberta, March 12, 2019 (GLOBE NEWSWIRE) — Cequence Energy Ltd. (“Cequence” or the “Company”) (TSX: CQE) is pleased to announce its operating and financial results for the fourth quarter and year ended December 31, 2018, as well as its year-end reserve evaluation as prepared by its qualified independent reserve evaluator. … Read more
March 12, 2019 CNW CALGARY, March 12, 2019 /CNW/ – Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) (“Bonterra” or the “Company”) is pleased to announce its operating and financial results for the year ended December 31, 2018. The related financial statements and notes, as well as management’s discussion and analysis (“MD&A”) for the year ended December 31, 2018 and annual information form (“AIF”) … Read more
Mar 12, 2019, by Robert Tuttle (Bloomberg) Oil sands producers including MEG Energy Corp. and Imperial Oil Ltd. are reconsidering oil sands expansions as new export pipelines are delayed and the provincial government limits production. MEG had planned to ramp up output at an expansion of its Christina Lake oil sands project in the second … Read more
March 12, 2019 By Mario Canseco The majority of Canadians (61%) say they are tired of nothing getting built in the country. Vancouver, BC [March 12, 2019] – A significant proportion of Canadians and British Columbians are in favour of resource development projects, a new Research Co. poll conducted on behalf of LNG Canada—a liquefied natural … Read more
Mar 12, 2019 by Stephen Cunningham (Bloomberg) — The U.S. government cut its oil production forecast for the first time in six months as drillers scale back in smaller shale plays and the U.S. Gulf of Mexico. While crude output is still expected to reach record levels, the Energy Information Administration trimmed its 2019 forecast … Read more
By Maureen McCall The story starts with the Heart Lake First Nations and their relentless pursuit of the value of working together with industry while creating training and employment opportunities for their members. They developed a great model for land use, keeping traditional values and emphasizing low impact on their land while potentially participating in … Read more
Canadian firms are losing global market share and missing out on valuable market opportunities around the world. It’s time to address this problem. What are the challenges Canadian businesses must overcome? Canada’s competitiveness scorecard Measuring our success on the global stage Competitiveness is a key dimension of economic prosperity. It’s a multifaceted word, but at … Read more
EDMONTON — A First Nation say creating a new wildland park in northern Alberta will go a long way toward ensuring Indigenous people can keep up their traditional pursuits.
Melody Lepine of the Mikisew Cree First Nation says the new park will also star…
HOUSTON (Reuters) – Canada’s mandated oil production cuts are preventing Suncor Energy Inc, one of Canada’s biggest oil producers, from sending its heavy crude to the U.S. Gulf Coast by rail, a company official said in an interview on Tuesday. The Canadian oil producer is “interested in rail economics going forward,” but the rise in … Read more
Bloomberg) — Cowboy boots and turquoise belt buckles are giving way to smart suits and silk ties as the world’s biggest shale oil field prepares for mergers. As oil executives from across the world gather in Houston for the annual CERAWeek by IHS Markit conference, the Permian Basin in the U.S. Southwest is on the … Read more
March 11, 2019 PR Newswire CALGARY, March 11, 2019 /PRNewswire/ – Pulse Oil Corp. (“Pulse” or the “Company”) (TSX-V: PUL and PUL.WT) is happy to announce that the Company has spudded the first of two new wells within Pulse’s Bigoray assets (PUL 100% W.I.). The drilling of each well is expected to take approximately 18 days and Pulse … Read more
Mar 12, 2019, by Kevin Crowley, Alix Steel and Kelly Gilblom (Bloomberg) Royal Dutch Shell Plc plans to become the world’s biggest power company within 15 years, a move that suggests it sees climate change as a bigger threat to its business than electricity’s historically weak returns. The world’s No. 2 oil explorer by market … Read more
Mar 11, 2019, by Javier Blas (Bloomberg) OPEC officials sat down to dinner with senior executives from North America’s booming shale oil industry on the sidelines of CERAWeek by IHS Markit, the annual gathering in Houston of some of the energy industry’s biggest names. On the first day of the week-long event, topics of discussion … Read more
Mar 12, 2019, by Heesu Lee and Grant Smith (Bloomberg) Oil rose to the highest in more than a week after Saudi Arabia was said to plan extending deep supply curbs and a nationwide blackout sparked a production collapse in Venezuela. Futures climbed as much as 1.2 percent in New York to the highest since … Read more
Mar 12, 2019, by Lorcan Roche Kelly (Bloomberg) No-fly zone Boeing Co. is facing a wider crisis of confidence in its crucial 737 Max plane following the weekend crash in Ethiopia, with Singapore and Australia temporarily blocking the best-selling model from their airspace. Indonesia’s Lion Air, one of the biggest customers for the jet, is considering … Read more
Mar 12, 2019, by Josh Wingrove (Bloomberg) Core to Justin Trudeau’s rise to power was attracting star candidates with a pledge to do politics differently. Now, two of those top recruits have quit cabinet and the Canadian leader faces his biggest crisis. His winning 2015 campaign featured a slate of political newcomers against a Conservative … Read more
HOUSTON, B.C. — Indigenous artifacts found at the construction site of a contentious pipeline project were likely not in their original location, says British Columbia’s energy regulator.
The Unist’ot’en clan, a hereditary house group of the Wet’suwet…
EDMONTON — An extensive study of caribou herds across British Columbia and Alberta suggests a way to reverse a long and steady decline of the endangered species — kill more wolves and moose and pen pregnant cows.
“It’s go hard or go home,” said Rob Se…
March 11, 2019 Reuters Oil prices rose on Monday, lifted by comments from Saudi oil minister Khalid al-Falih that an end to OPEC-led supply cuts was unlikely before June and a report showing a fall U.S. drilling activity. U.S. West Texas Intermediate (WTI) crude oil futures were at $56.43 per barrel, up 36 cents, or … Read more
Once a week (it seems), someone asks me how they can transition their oil and gas career into digital. By marrying your current deep know-how and skill set in oil and gas with the scarce skills of digital, you can create a unique combination. Duration: 10m 51s ABOUT Geoffrey Cann is a former senior partner … Read more
March 11, 2019 | Source: Gran Tierra Energy Inc. CALGARY, Alberta, March 11, 2019 (GLOBE NEWSWIRE) — Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American: GTE)(TSX:GTE)(LSE:GTE) today announces that it has received approval from the Toronto Stock Exchange (“TSX”) to implement a normal course issuer bid (the “NCIB”) through the facilities of the TSX and eligible … Read more
Mar 11, 2019, by Lorcan Roche Kelly (Bloomberg) Happy here Federal Reserve Chair Jerome Powell signaled that there is no clear time limit to the current pause on interest-rates hikes in a wide-ranging interview on CBS News’ “60 minutes” yesterday. While he said the outlook for the U.S. economy is favorable, he highlighted risks to global … Read more
Mar 11, 2019, by Grant Smith (Bloomberg) OPEC’s loss of market power to what was once its biggest customer will continue until the middle of the next decade as U.S. shale oil thrives. By 2024, the Organization of Petroleum Exporting Countries’ capacity to pump crude will actually shrink because of declines in Iran and Venezuela, … Read more
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Energy Connect 2019 is fast-approaching and we do not want you to miss out on this opportunity to learn about the digital transformation happening right now within the energy sector. Our Virtual Conference & Expo Means No Travel Costs, No Overhead, and No Hassle. If you already know you’ll be joining us for the Energy … Read more
GeoConvention is proud to announce an amazing line up for our Value of Geosciences panel: Wayne Foo, Geologist, President and CEO, Parex Resources Rob Morgan, Engineer, President and CEO, Cona Resources Kevin Angus, Geophysicist, Strategic Advisor, Point Loma Resources Gary Bunio, Engineer, Director New Technology, Suncor Inc. Pat Ward, Geologist, President and CEO, Painted Pony … Read more
Signs are definitely the superhero of the group, leaving tags to be runnerup. That’s why this month we wanted to highlight some of the signage duties that tags are usually responsible for! (Take a peek at our previous blog on Tag Materials here.) We handpicked 5 (of what we deem to be our most popular) tags, … Read more
Jim Claunch, VP of Business Efficiency at Equinor, reveals how they’re leveraging big data, predictive analytics and machine learning – and how digital transformation is impacting the oil and gas industry. In the lead-up to the Operational Excellence in Energy, Chemicals & Resources Summit, our partners at IQPC had the pleasure of catching up with … Read more
Take the 4 1/2-day course to become certified under TÜV (Rheinland) as a TÜV practitioner or TÜV F.S. ENG TÜV (Rheinland) certified F.S. Eng (TÜV Rheinland) Functional Safety SIS Certificate REGISTER TODAY Also available at your facility upon request. March 18-22, 2019 Course cost is $ 4,300.00 LEARN MORE Click above to learn more or … Read more
Join Us At Several Industry Leading Events Across Canada in 2019 Hy-Lok Canada is pleased to announce our participation in several key events for the Oil & Gas, Mechanical, Electrical, and Petrochemical sectors. Hy-Lok is proud to join our fellow exhibitors in celebrating continuous innovation, growth, and to showcase the many applications of our high-quality … Read more
Mar 11, 2019, by David Scanlan (Bloomberg) SNC-Lavalin Group Inc. has had more than its share of woes lately. The company faces charges for bribery in Libya, posted two profit warnings for troubles in Chile and Saudi Arabia, and has lost almost half its value in nine months. Why, then, is Canadian Prime Minister Justin … Read more
Mar 10, 2019 by Kevin Crowley (Bloomberg) Cowboy boots and turquoise belt buckles are giving way to smart suits and silk ties as the world’s biggest shale oil field prepares for mergers. As oil executives from across the world gather in Houston for the annual CERAWeek by IHS Markit conference, the Permian Basin in the … Read more
NEW DELHI (Reuters) – Saudi oil minister Khalid al-Falih said on Sunday it would be too early to change OPEC+ output policy at the group’s meeting in April and that China and the U.S. would lead healthy global demand for oil this year. The Organization of the Petroleum Exporting Countries and its allies such as … Read more
Mar 10, 2019, by Javier Blas (Bloomberg) When OPEC started an oil-price war in late 2014, most people believed U.S. shale was doomed. In reality, the giant oil majors suffered most — burdened by expensive mega-projects, Chevron Corp., BP Plc and the rest struggled to adapt to the fall in energy prices. Slowly, those companies … Read more
Mar 9, 2019, by Robert Tuttle (Bloomberg) Canada’s oil producers made a small dent in their near-total dependence on the U.S. market after a surge of shipments flowed to China and the U.K. last year. The holder of the world’s third-largest crude reserves sent 3.43 million barrels a day, or 96.4 percent of its oil … Read more
Mar 9, 2019, by Julian Lee (Bloomberg Opinion) Look at much of what is written about the oil market and it may be tempting to conclude that crude oil is a homogenous commodity, the same the world over and seamlessly interchangeable. It’s not. Once you appreciate that all crudes are not created equal, you can see how … Read more
NEW YORK/CALGARY, Alberta (Reuters) – North American energy traders are reluctant to take up long-term positions on Canadian crude price moves, preferring to stick to spot deals, as uncertainty around government intervention in the market grows following delays to a critical pipeline project. Enbridge Inc unexpectedly said earlier this month its Line 3 oil pipeline … Read more
Mar 8, 2019 by Sandrine Rastello and Josh Wingrove (Bloomberg) SNC-Lavalin Group Inc., the embattled Canadian builder at the heart of the political crisis that’s engulfed the Trudeau government, is one step closer to the trial it’s been trying to avoid. A Canadian court has struck down a request by the Montreal-based company for judicial … Read more
March 8, 2019 Business Wire HOUSTON–(BUSINESS WIRE)–ConocoPhillips (NYSE: COP) announced today that an international arbitration tribunal constituted under the auspices of the International Centre for Settlement of Investment Disputes (ICSID) has unanimously ordered the government of Venezuela to pay the company the amount of $8.7 billion in compensation for the government’s unlawful expropriation of ConocoPhillips’ investments … Read more
March 8, 2019 The Associated Press STAVANGER, Norway – Norway’s US$1-trillion wealth fund, the biggest of its kind in the world, will begin dumping shares in oil and gas companies including some Canadian names, but stopped short of barring major producers like Suncor, ExxonMobil and Chevron. The move was hailed by environmental activists as a … Read more
Canada’s drilling rig count decreased by 22 actively drilling rigs according to data collected by Baker Hughes for the week ending March 8th, 2019. From one week ago, Alberta rig counts decreased 8 to 137 and the Saskatchewan rig counts decreased 15 to 33. Oil drilling decreased 22 to 118 and gas remained at 71. … Read more
(Reuters) – U.S. energy firms this week cut the number of oil rigs operating for a third week in a row to the lowest level in 10 months as independent producers follow through on plans to cut spending even though oil majors plan to spend more. Drillers cut nine oil rigs in the week to … Read more
STAVANGER, Norway — Norway’s US$1-trillion wealth fund, the biggest of its kind in the world, will begin dumping shares in oil and gas companies including some Canadian names, but stopped short of barring major producers like Suncor, ExxonMobil and Ch…
CALGARY — The CEO of MEG Energy Corp. says a one-year delay in Enbridge Inc.’s Line 3 pipeline replacement project makes it highly unlikely it will approve an option to spend about $75 million to complete an expansion of its Christina Lake oilsands pr…
Mar 8, 2019 (Bloomberg) Oil fell as a weakening outlook for the global economy and rising crude stockpiles in the U.S. signaled that markets will remain comfortably supplied. Futures in New York retreated as much as 2.7 percent. They have held this week in the narrowest range since December 2017 as traders balance concerns over … Read more
Mar 8, 2019, by Lorcan Roche Kelly (Bloomberg) It’s jobs day, Chinese stocks plunge and more signs of a weakening global economy. Here are some of the things people in markets are talking about today. Payrolls U.S. employers are expected to have added 180,000 positions in February, down from January’s surprise 304,000, with the nonfarm data … Read more
Mar 7, 2019 by Robert Tuttle (Bloomberg) Drillers are moving ahead in a corner of Canada’s oil sands that saw a flurry of land grabs in recent years, unfazed by a glut of crude that depressed prices last year and the mandatory production cuts that followed. Cenovus Energy Inc. received regulatory approval in January to … Read more
Mar 7, 2019 by Theophilos Argitis (Bloomberg) Canada’s economic slump may end up lasting longer than first thought amid surprising signs of weakness in household spending and investment, though policy makers still expect a rebound to take place, a central bank official said. In a speech a day after the Bank of Canada toned down … Read more
March 7, 2019 CNW CALGARY, March 7, 2019 /CNW/ – Yangarra Resources Ltd. (“Yangarra” or the “Company“) (TSX:YGR) announces its financial and operating results for the year ended December 31, 2018. 2018 Highlights Average Production of 9,425 boe/d an increase of 64% from 2017. Oil and gas sales were $134 million with funds flow from operations of $82 million ($0.97 per share – basic). Adjusted EBITDA (which … Read more
March 7, 2019 All financial figures in Canadian dollars ($ or C$) unless otherwise noted CALGARY, March 7, 2019 /CNW/ – MEG Energy Corp. (TSX:MEG, “MEG”) today reported full-year 2018 results “While 2018 saw strong operational successes, the challenging commodity price environment, particularly during the fourth quarter, hindered bitumen realizations and adjusted funds flow for the company. … Read more
March 7, 2019 Globe Newswire CALGARY, Alberta, March 07, 2019 (GLOBE NEWSWIRE) — Freehold Royalties Ltd. (Freehold) (TSX:FRU) announced fourth quarter and year-end results for the period ended December 31, 2018. Results at a Glance Three Months Ended Twelve Months Ended December 31 December 31 FINANCIAL ($000s, except as noted) 2018 2017 Change 2018 2017 Change … Read more
March 7, 2019 CNW CALGARY, March 7, 2019 /CNW/ – OIL AND GAS OPERATIONS Annual sales volumes averaged 85,941 Boe/d (37 percent liquids) in 2018, an increase of 91 percent compared to average sales volumes of 44,970 Boe/d (40 percent liquids) in 2017. Fourth quarter 2018 sales volumes averaged 84,495 Boe/d (38 percent liquids). Adjusted funds flow … Read more
CALGARY — A $3.5-billion project to turn Alberta propane into plastic pellets for the manufacture of consumer products is to receive $49 million from the federal government.
Ottawa says the money provided to Calgary-based Inter Pipeline Ltd. through t…
VANCOUVER — Work on a Trans Mountain pipeline crossing in a British Columbia stream altered habitat for young salmon, but the creek is expected to return to normal in one to two years, says Fisheries and Oceans Canada.
Two biologists with the departme…
CALGARY — Oilsands producer MEG Energy says it has doubled its crude-by-rail shipments and will double them again to maximize prices in view of insufficient pipeline export capacity from Western Canada.
The Calgary-based company says steep discounts f…
WASHINGTON — The International Monetary Fund is ready to rescue Venezuela’s economy, but the task will be so huge that it will require financial help from other international players, the head of the body said Thursday.
“As soon as we are asked by the…
Two western premiers say the SNC-Lavalin affair is distracting Prime Minister Justin Trudeau at a time when he should be focused on jobs in their region.
Saskatchewan Premier Scott Moe took aim Thursday at the prime minister’s comments about 9,000 job…
Mar 7, 2019 by Grant Smith (Bloomberg) Oil advanced after mixed data from the U.S. government, which showed an unexpectedly large jump in crude inventories and a substantial drop in fuel stockpiles. Futures added 1.3 percent in New York, trading near $57 a barrel. American crude stockpiles last week gained the most since mid-January, more … Read more
CALGARY — Another Calgary-based oilfield services company is reporting job cuts as activity in Canada slows due to lower oil and gas producer spending.
STEP Energy Services Ltd. says it cut 13 per cent of its administrative staff in early 2019 and has…
March 7, 2019 PR Newswire CALGARY, March 7, 2019 /PRNewswire/ – OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) today announced the appointment of Michael J. Faust as interim President and CEO, effective March 18, 2019 for a period of twelve months with an optional six-month extension. Mr. Faust will succeed current President … Read more
March 7, 2019 PR Newswire CALGARY, March 7, 2019 /PRNewswire/ – OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) is pleased to announce its year-end 2018 financial and operational results. All figures are in Canadian dollars unless otherwise stated. Obsidian Energy’s audited consolidated financial statements and Management’s Discussion and … Read more
March 7, 2019 PR Newswire CALGARY, March 7, 2019 /PRNewswire/ – Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX and NYSE: CPG) is pleased to announce its operating and financial results for the year ended December 31, 2018. KEY HIGHLIGHTS Over $400 million of excess cash flow expected to be available in 2019 for net debt repayment and … Read more
March 7, 2019 Business Wire HOUSTON & LONDON–(BUSINESS WIRE)–Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for February 2019 was 1,027, up 3 from the 1,024 counted in January 2019, and up 48 from the 979 counted in February 2018. The international offshore rig count for … Read more
CALGARY — Crescent Point Energy Corp. lost $2.39 billion in its latest quarter as the company took a one-time charge related to its plant and equipment.
The oil and gas company says the loss amounted to $4.35 per share for the quarter ended Dec. 31 co…
Mar 7, 2019 by Lorcan Roche Kelly (Bloomberg) ECB decision day, Trump’s trade-deal rally may never come, and Brexit pessimism rises. Here are some of the things people in markets are talking about today. Stimulus? At 7:45 a.m. Eastern Time, the European Central Bank will announce its latest monetary policy decision. While there is no expectation … Read more
Mar 7, 2019 by Dan Murtaugh (Bloomberg) The country that’s driven global oil demand since the turn of the century may hit the brakes sooner than expected as travelers shift toward electric cars or even forgo the open road in favor of trains. China’s oil consumption will peak in 2025, five to eight years earlier … Read more
CALGARY, Alberta, March 07, 2019 (GLOBE NEWSWIRE) — Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX.V: SOIL) (FSE: SMK) is pleased to provide an operational update, including details of the Company’s Q1/19 capital budget and drilling program (the “Program”), along with forecast average production volumes for the quarter. Capital Budget & Production Guidance … Read more
CALGARY, Alberta, March 06, 2019 (GLOBE NEWSWIRE) — Peyto Exploration & Development Corp. (“Peyto” or the “Company”) is pleased to report operating and financial results for the fourth quarter and 2018 fiscal year. A 72% operating margin1 and 20% profit margin2 was achieved in 2018, despite the 37% drop in natural gas prices, allowing Peyto to achieve … Read more
CALGARY, Alberta, March 06, 2019 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX:PXT) is pleased to announce its financial and operating results for the year and the three months ended (“Fourth Quarter” or “Q4”) December 31, 2018. All amounts herein are in United States dollars (“USD”) unless otherwise stated. Please note that Parex … Read more
CALGARY, Alberta, March 07, 2019 (GLOBE NEWSWIRE) — Commenting on the Company’s 2018 results, Steve Laut, Executive Vice-Chairman of Canadian Natural stated, “In 2018 we demonstrated the strength of our diverse and balanced asset base, and our ability to create value for Canadian Natural’s shareholders throughout the commodity price cycle. Canadian Natural’s continued focus on … Read more
CALGARY — Canadian Natural Resources Ltd. lost $776 million in the fourth quarter compared with a profit of $396 million a year earlier as it was hit by low prices for Canadian oil.
However, the company raised its quarterly dividend to 37.5 per share …
Leucrotta Exploration Announces 2018 Year-End Reserves Calgary, Alberta–(Newsfile Corp. – March 7, 2019) – Leucrotta Exploration Inc. (TSXV: LXE) (“Leucrotta” or the “Company”) is pleased to announce its 2018 year-end reserves as independently evaluated by GLJ Petroleum Consultants Ltd. (“GLJ”) effective December 31, 2018 (the “GLJ Report”), in accordance with National Instrument 51-101 (“NI 51-101”) and Canadian Oil and … Read more
For immediate release Codeco Consulting and Keneco Environmental merge with Vanoco Consulting Ltd and Denver- based Vanoco Consulting LLC. Agreement creates efficiencies while ensuring enhanced services for clientele in Canada and the U.S. Calgary AB, (March 1, 2019), Derek Rae, President of Vanoco Consulting Ltd., Vanoco Consulting LLC. and Blake Walliser, President of … Read more
Mar 6, 2019 by Mikael Holter (Bloomberg) Norway will on Friday decide whether to let its $1 trillion sovereign wealth fund dump all its oil and gas stocks. Here’s what you need to know: 1. Why does Norway’s fund want to dump petroleum stocks? The fund contends that it makes little sense for Norway to … Read more
Mar 6, 2019 by Heesu Lee, Saket Sundria and Debjit Chakraborty (Bloomberg) The largest democratic exercise on Earth is set to give the oil market a shot in the arm. About 875 million Indians will go to polls over the next three months to elect their leader, dwarfing the 158 million Americans who registered to … Read more
March 6, 2019 Globe Newswire CALGARY, Alberta, March 06, 2019 (GLOBE NEWSWIRE) — Chinook Energy Inc. (“our”, “we”, or “us”) (TSX: CKE) is pleased to announce its fourth quarter and 2018 financial and operating results. Our operational and financial highlights for the three months and year ended December 31, 2018 are noted below and should be … Read more
March 6, 2019 Globe Newswire CALGARY, Alberta, March 06, 2019 (GLOBE NEWSWIRE) — Pieridae Energy Limited (“Pieridae”) (TSXV: PEA) is pleased to announce that it has issued 320,000 common shares at a price of $2.00 per share (the “Over-Allotment Offering”), for incremental gross proceeds of $640,000, pursuant to the partial exercise of an over-allotment option … Read more
CALGARY — Pengrowth Energy Corp. has launched a strategic review that could include the sale of the company after failing to renegotiate its high debt load amid plunging western Canadian oil prices late last year.
The Calgary-based company, which has …
March 6, 2019 Globe Newswire CALGARY, Alberta, March 05, 2019 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) is pleased to announce results for the three months and year ended December 31, 2018 and provide an update on our future business plans. Record 2018 Results, Strong 2019 Growth During the quarter and year … Read more
March 06, 2019 | Source: STEP Energy Services Ltd. CALGARY, Alberta, March 06, 2019 (GLOBE NEWSWIRE) — STEP Energy Services Ltd. (the “Company” or “STEP”) is pleased to announce its financial and operating results for the three and twelve months ended December 31, 2018. The following press release should be read in conjunction with the management’s … Read more
March 06, 2019 | Source: Kelt Exploration Ltd CALGARY, Alberta, March 06, 2019 (GLOBE NEWSWIRE) — Kelt Exploration Ltd. (TSX:KEL) (“Kelt” or the “Company”) has released its financial and operating results for the fourth quarter and year ended December 31, 2018. The Company’s financial results are summarized as follows: FINANCIAL HIGHLIGHTS Three months ended December 31 Year ended … Read more
Lindbergh Exits 2018 as Expected With Production Greater Than 19,000 Barrels per Day and Continued into 2019 at the Upper End of Our Guidance Despite Alberta’s Curtailment Program March 06, 2019 | Source: Pengrowth Energy Corporation CALGARY, Alberta, March 06, 2019 (GLOBE NEWSWIRE) — Pengrowth Energy Corporation (“Pengrowth” or the “Company“) (TSX:PGF, OTCQX:PGHEF), today reported its results … Read more
March 06, 2019 | Source: Baytex Energy Corp. CALGARY, Alberta, March 06, 2019 (GLOBE NEWSWIRE) — Baytex Energy Corp. (“Baytex”)(TSX, NYSE: BTE) reports its operating and financial results for the three months and year ended December 31, 2018 (all amounts are in Canadian dollars unless otherwise noted). “In 2018, we repositioned our company through the Raging River … Read more
Mar 6, 2019 by Lorcan Roche Kelly (Bloomberg) Trump pushes for China deal, Europe has a money-laundering problem, and more bad news for Brexit negotiations. Here are some of the things people in markets are talking about today. Need a rally President Donald Trump is pressuring U.S. negotiators to reach a trade agreement with China soon because he’s … Read more
March 5, 2019 CNW CALGARY, March 5, 2019 /CNW/ – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) is pleased to announce very strong 2018 financial and operating results. HIGHLIGHTS Tourmaline delivered full-year 2018 earnings of $401.4 million($1.48/diluted share) underscoring the inherent profitability of the core EP business. Annual cash flow(1) for 2018 of $1.3 billion ($4.80/diluted share) which is 8% higher … Read more
Mar 6, 2019 by Saket Sundria and Grant Smith (Bloomberg) Oil declined after an industry report showed a massive increase in U.S. crude stockpiles, ahead of more comprehensive data from the government. Futures fell by about 1 percent in New York, after closing lower on Tuesday. U.S. inventories swelled by 7.29 million barrels last week, … Read more
Retroreflective vinyl, commonly referred to as reflective vinyl, is not self-luminescent. Its properties aren’t apparent in normal daylight conditions. Its glass or prismatic beads are specifically designed to reflect light back to the source making them visible at night when illuminated with artificial light, such as that from motor vehicle headlights. This reflective property is … Read more
Now, more than ever, GeoConvention is the place to have direct access to key decision makers. Come be part of where oil finders and decision makers gather in the hub of the Canadian Oil and Gas market. We invite you to exhibit and become part of GeoConvention 2019. This annual conference gives companies the opportunity … 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. expands on the potential for increased divestiture activity in 2019 as Canadian Juniors deal with protracted market challenges. If you’d like Wednesday Word to the Wise delivered directly to … Read more
American politicians have NO RIGHT interfering in the politics of Canadians. The decision on whether we build a pipeline or not, whether we develop our resources or not, is ours to make and ours alone. The governor of Washington State needs stay out of our affairs and focus on his. Pass this video along if … Read more
CALGARY — Former United States president Barack Obama says failure to transition to cleaner energy sources would lead to global chaos that would be hard to reverse, but he’s optimistic fossil-fuel-centric economies such as Alberta’s can make the neces…
March 5, 2019 After the 350,000-barrel-a-day production cut was announced in early December, prices in Western Canada recovered and the discount between Alberta heavy oil and WTI shrunk dramatically. Producer concerns rose that as the heavy oil discount had narrowed to less than US$10/bbl – below the cost of shipping crude by rail to the … Read more
March 5, 2019 CALGARY, Alberta, March 04, 2019 (GLOBE NEWSWIRE) — Tanager Energy Inc. (“Tanager” or the “Corporation”) (TSX-V: TAN, OTCQB: TANEF) is pleased to announce the appointment of Mr. Marc Rhoades as the new Chief Executive Officer of Tanager. Mr. Rhoades has over 28 years of experience serving as a senior executive of upstream … Read more
DALLAS — Exxon Mobil is boosting its projected growth of oil and gas production in the Permian Basin and says the field can be profitable even at lower crude prices.
The company said Tuesday that as soon as 2024 it expects to produce the equivalent of…
Published on March 5, 2019 In the wake of the January 1, 2018 US tax reform, multinational businesses with US operations are re-evaluating investment, financing, and other operating activities to determine their most profitable strategies. Policy makers in other countries are also revaluating their business tax systems to determine the best course of action in … Read more
Mar 5, 2019 by Lorcan Roche Kelly (Bloomberg) China cuts growth goal, some green shoots in Europe’s economy, and Trump finds another trade target. Here are some of the things people in markets are talking about today. Cuts China lowered its goal for economic growth this year to between 6 and 6.5 percent, the weakest in almost … Read more
Mar 4, 2019 by Liam Denning (Bloomberg Opinion) Two things to bear in mind when someone tells you they suffer from a problem of perception. First, perception shapes and sometimes outright supplants reality. Second, the complaint comes with a subtext of “it’s not me, it’s you.” Which brings us to Big Oil. Speaking at an industry … Read more
Mar 5, 2019 by Grant Smith (Bloomberg) Oil steadied, reversing earlier losses, as traders assessed Chinese measures to protect economic growth in the world’s second-biggest fuel user. Futures rose 0.4 percent in New York, tracking a recovery in commodities also closely linked to global growth such as nickel and copper. China announced a major tax … Read more
Mar 4, 2019 by Dana Hull (Bloomberg) Tesla Inc. Chief Executive Officer Elon Musk caught many employees by surprise with his announcement last week that the electric-car maker would close most stores and shift to online-only sales, according to three people familiar with the matter. Many sales personnel found out about the decision when Tesla … Read more
CALGARY, Alberta, March 05, 2019 (GLOBE NEWSWIRE) — Altura Energy Inc. (“Altura” or the “Company”) (TSX-V: ATU) is pleased to announce the results of the independent evaluation of the Company’s oil and natural gas reserves (the “McDaniel Report”), effective December 31, 2018, as prepared by McDaniel and Associates Consultants Ltd. (“McDaniel”), an operational update and … Read more
HOUSTON, March 5, 2019 – Infrastructure Networks, Inc. (INET) and Osprey Informatics (Osprey) are pleased to announce a strategic partnership to bring powerful remote visual monitoring capabilities to the US energy sector. INET will sell, supply, and service Osprey’s intelligent visual monitoring solutions, delivered over INET’s wireless platform. Osprey will leverage INET’s LTE coverage of … Read more
CALGARY, AB: The Canadian Taxpayers Federation applauds the United Conservative Party’s commitment to reduce the business tax rate to 8 per cent and encourages all parties to commit to tax relief if elected. “When entrepreneurs have more money, they reinvest and hire more people and that’s why cutting the business tax is a great way to … Read more
After the 350,000-barrel-a-day production cut was announced in early December, prices in Western Canada recovered and the discount between Alberta heavy oil and WTI shrunk dramatically. Producer concerns rose that as the heavy oil discount had narrowed to less than US$10/bbl – below the cost of shipping crude by rail to the US Gulf Coast … Read more
PIERRE, S.D. — South Dakota Gov. Kristi Noem said Monday that she’s proposing legislation before construction begins on the Keystone XL oil pipeline that would create a way to go after out-of-state money that funds pipeline protests.
The legislation w…
Mar 4, 2019 by Kevin Orland (Bloomberg) United Conservative Party Leader Jason Kenney, who will be challenging Alberta Premier Rachel Notley in an election this year, continues to oppose the current government’s plan to get into the crude-by-rail shipping market despite a one-year delay to a key crude oil pipeline. Enridge Inc. on Friday said … Read more
Mar 4, 2019 by Kevin Orland (Bloomberg) The delay to Enbridge Inc.’s Line 3 crude oil pipeline expansion hammered shares of Canadian oil-sands producers — including Cenovus Energy Inc., MEG Energy Corp. and Canadian Natural Resources Ltd. — as investors grappled with the prospect of another year of shipping bottlenecks. Cenovus fell as much as … Read more
LANSING, Mich. — New Michigan Gov. Gretchen Whitmer, who campaigned on a bold promise to “fix the damn roads” in the capital of the U.S. auto industry, will propose nearly tripling the state’s per-gallon fuel tax, her office said Monday.
The Democrat’…
March 4, 2019 Globe Newswire All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta, March 04, 2019 (GLOBE NEWSWIRE) — Gibson Energy Inc. (“Gibson” or the “Company”), (TSX: GEI), announced today its operating and financial results for the three months and fiscal year ended December 31, 2018. “We are very pleased with the … Read more
March 4, 2019 CNW CALGARY, March 4, 2019 /CNW/ – Crew Energy Inc. (TSX: CR) (“Crew” or the “Company”) is pleased to announce our operating and financial results for the three and twelve month periods ended December 31, 2018. Crew’s full audited consolidated Financial Statements and Notes, as well as Management’s Discussion and Analysis (“MD&A”) for the three and twelve … Read more
March 4, 2019 Shares in Canadian pipeline operator Enbridge Inc fell 6 percent on Monday after disclosing an almost yearlong delay to the start of its Line 3 crude oil pipeline, which would carry heavy Canadian oils to the U.S. market. The delay is another blow to the Canadian oil industry, which has faced bottlenecks … Read more
March 4, 2019 CALGARY, Alberta, March 04, 2019 (GLOBE NEWSWIRE) — Delphi Energy Corp. (“Delphi” or the “Company”) is pleased to announce its crude oil and natural gas reserves information for the year ended December 31, 2018 and provide an operations update. HIGHLIGHTS Successfully explored and delineated the Montney at West Bigstone with a drilling program that consisted of … Read more
Mar 4, 2019 by Saket Sundria and Grant Smith (Bloomberg) Oil climbed as the U.S. and China were said to near a deal on trade that would underpin the outlook for crude demand, while supplies around the world showed signs of tightening. Futures in New York rose as much as 1 percent after a drop … Read more
Canada’s drilling rig count decreased by 1 actively drilling rigs according to data collected by Baker Hughes for the week ending March 1st, 2019. From one week ago, Alberta rig counts increased 1 to 145 and the Saskatchewan rig counts decreased 5 to 48. Oil drilling decreased 4 to 140 and gas increased 3 to … Read more
Mar 4, 2019 by Lorcan Roche Kelly (Bloomberg) U.S. and China close to clinching a trade deal, Trump talks down the dollar, and policy makers gather in Beijing. Here are some of the things people in markets are talking about today. Optimism Both China and the U.S. are talking up the chances of a brewing trade deal. The … Read more
STEP Energy Services leverages modern technology that allows operators to make better decisions in real-time. As a part of the STEP-IQ suite of products and services, STEP-conneCT is a downhole data acquisition tool that provides real time data to the surface during milling operations. This data allows operators to evaluate critical job parameters and make … Read more
Click here to see the specifications for Sour Horizontal Separator 2 Phase, 60″ 1440psi 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
Mar 2, 2019 by Kevin Orland (Bloomberg) In a major blow to the Canadian oil industry, Enbridge Inc. now expects the replacement and expansion of its Line 3 crude oil pipeline to be in service about a year later than expected. The project, previously slated to start shipping crude in the fourth quarter of this … Read more
OTTAWA — The federal government’s promised overhaul of environmental evaluations for energy projects is poised for a major Senate surgery, but the upper chamber must race to pass the bill before an election guillotine sends it to the shredder.
Bill C-…
EDMONTON — Mentioning climate change can kill a conversation. But a new Alberta project is using the topic to start one — and is showing people from geologists to farmers to environmentalists that they have more in common than they thought.
“Climate c…
Managing workplace safety is a core priority for industrial operations. To adequately protect workers and the environment, organizations need to implement structured safety management systems (SMS). This business approach to safety allows companies to manage their safety programs, identify hazards, report incidents, and be proactive in controlling risk. A well-designed SMS is mandatory for planning, … Read more
Watch how Osprey Informatics cloud-based computer vision platform Osprey Reach enables energy and industrial companies to manage their operations remotely to cut costs, mitigate safety and environmental risks. ospreyinformatics.com/video Osprey Reach is an enterprise intelligent visual monitoring solution for exception-based management of field operations, assets and facilities.
Mar 1, 2019 by Justina Vasquez (Bloomberg) Canada’s dollar dived Friday following worse-than-anticipated gross domestic product figures and traders pared their expectations for interest-rate hikes from the Bank of Canada. The loonie, which has been one of the best-performing Group-of-10 currencies this year, weakened as much as 0.7 percent on Friday to C$1.3267 per U.S. … Read more
Mar 1, 2019 by Theophilos Argitis (Bloomberg) Canada is on recession watch after its economy almost stalled at the end of last year. Gross domestic product grew by just 0.1 percent in the fourth quarter, or 0.4 percent annualized, Statistics Canada said Friday. It’s a weak enough number that could easily be revised into a … Read more
TORONTO — Canada’s main stock index posted its 10th straight week of gains as it was bolstered Friday by a broad-based rally.
The S&P/TSX composite index closed up 69.24 points to 16,068.25 after hitting a five-month high.
The tone for the day was set…
February 28, 2019 CNW Liquids Growth, Market Diversification & Operational Excellence (TSX: AAV) – CALGARY, Feb. 28, 2019 /CNW/ – Advantage Oil & Gas Ltd. (“Advantage” or the “Corporation”) is pleased to announce its 2018 results, culminating in increased liquids development, successful revenue diversification, and operational excellence. These accomplishments, combined with an emphasis on capital and financial discipline, will continue … Read more
March 1, 2019 Reuters TransCanada Corp filed with the U.S. energy regulator on Friday to increase spot rates on its Keystone crude pipeline from Manitoba and Alberta to key markets in the U.S. Midwest and Gulf Coast. All increases will be effective April 1, according to filings with the U.S. Federal Energy Regulatory Commission. Canada’s main … Read more
March 1, 2019 Globe Newswire All financial figures are in Canadian dollars unless noted otherwise CALGARY, Alberta, March 01, 2019 (GLOBE NEWSWIRE) — Gibson Energy Inc. (“Gibson” or the “Company”), (TSX: GEI), announced today the sanction of 500,000 barrels of new tankage at the Hardisty Terminal under a long-term agreement with an investment grade customer, the … Read more
March 1, 2019 Globe Newswire CALGARY, Alberta, Feb. 28, 2019 (GLOBE NEWSWIRE) — Storm Resources Ltd. (TSX:SRX) – Storm has also filed its audited consolidated financial statements as at December 31, 2018 and for the three months and year then ended along with Management’s Discussion and Analysis (“MD&A”) for the same periods. This information appears on … Read more
March 1, 2019 U.S. energy firms this week cut the number of oil rigs operating to the lowest in almost nine months as some producers follow through on plans to cut spending despite an over 20-percent increase crude futures so far this year.Drillers cut 10 oil rigs in the week to March 1, bringing the … Read more
CALGARY — Favorable oil refining margins came to an abrupt end for Parkland Fuel Corp. in the fourth quarter after the Alberta government imposed production curtailments, its CEO said Friday.
The company reported higher-than-expected profits in the la…
WINNIPEG — Investigators say at least one million litres of petroleum crude oil were released when a freight train derailed last month on a ranch in western Manitoba.
The update from the Transportation Safety Board on Friday was the first indication o…
Feb 28, 2019 by Theophilos Argitis and Erik Hertzberg (Bloomberg) Foreign direct investment in Canada rebounded in 2018, showing businesses may be regaining some of their confidence in an economy hampered by falling oil prices and trade uncertainty. FDI rose to C$51.3 billion ($34.2 billion) last year, Statistics Canada reported Thursday, the highest annual total … Read more
Mar 1, 2019 by Grant Smith (Bloomberg) OPEC’s crude production slumped again last month as the cartel implemented planned cutbacks in full and some members were hit by U.S. sanctions. Saudi Arabia, Kuwait and the United Arab Emirates delivered all — and in some cases more — of the supply curbs they pledged to try … Read more
Mar 1, 2019 by Cecile Gutscher and Sam Unsted (Bloomberg) The U.S. is pushing to get a trade deal done, central banks are being patient and Elon Musk delivers on a promise. Here are some of the things people in markets are talking about today. Playing chicken There’s a degree of caution in the room as … Read more
February 28, 2019 18:00 ET | Source: Cardinal Energy Ltd. 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 … Read more
Exceptional 2018 Driven by Full Year Contributions From Acquisitions, Strong Supply Performance and Integration Synergies CALGARY, Alberta, Feb. 28, 2019 (GLOBE NEWSWIRE) — Parkland Fuel Corporation, (“Parkland”, “We”, the “Company”, or “Our”) (TSX:PKI) announced today the financial and operating results for the three months and year ended December 31, 2018. All financial figures are expressed in … Read more
CALGARY, Alberta, March 01, 2019 (GLOBE NEWSWIRE) — Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX: BXE) provides an update regarding its ongoing debt refinancing efforts. As previously announced by the Company, Bellatrix is focused on its key strategic priority of maintaining financial strength and liquidity. Since 2018, the Company has been advancing efforts and … Read more
OTTAWA — Alberta Premier Rachel Notley says it makes no sense for Ottawa to use one hand to buy the Trans Mountain pipeline for $4.5 billion, and another to push legislation that would deter investors from future energy projects.
Notley was in Ottawa …
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