HOUSTON — An explosion and fire at an Exxon Mobil oil refinery in Texas on Wednesday left 37 people with minor injuries, in the latest of a series of petrochemical industry blazes this year in the Houston area.
The fire began after an explosion at app…
July 31, 2019 CNW Second quarter 2019 highlights: Financial performance driven by strong liquids production and cost focus. Net earnings of $336 million, or $0.24/share, with non-GAAP operating earnings of $290 million, or $0.21/share. Cash from operating activities of $906 million with non-GAAP cash flow of $877 million, or $0.64/share. Non-GAAP free cash flow of $127 million. Increased forecast for annualized G&A and operating … Read more
By Heesu Lee and Grant Smith Jul 31, 2019 (Bloomberg) Oil traded near a two-week high in New York amid signs of a further drop in U.S. stockpiles and ongoing concerns that political friction in the Persian Gulf could disrupt exports.Futures rose as much as 1.1%. American crude inventories dropped by 6.02 million barrels last … Read more
By Laura Curtis Jul 31, 2019 (Bloomberg) A Fed rate cut is basically baked in, trade talks between the U.S. and China are on pause again, and earnings are coming in fast. Here are some of the things people in markets are talking about today. All eyes on the Fed. Again Policy makers at the Federal Reserve are … Read more
July 30, 2019 The Canadian Press SASKATOON – Attorneys general from Alberta and Ontario say they will discuss the timeline of the different legal challenges launched against the federal carbon tax when they meet in Saskatoon today. The two justice ministers will be joined by their legal teams and their counterparts from New Brunswick and … Read more
July 30, 2019 Globe Newswire TC Energy Corporation (TSX:TRP) (NYSE:TRP) (TC Energy) announced today that it has entered into an agreement through its wholly-owned subsidiary, TransCanada Energy Ltd., to sell interests in three Ontario natural gas-fired power plants to a subsidiary of Ontario Power Generation Inc., for approximately $2.87 billion. The facilities include the 683-megawatt Halton … Read more
July 30, 2019 Globe Newswire CALGARY, Alberta, July 30, 2019 (GLOBE NEWSWIRE) — (TSX: CJ) Cardinal Energy Ltd. (“Cardinal” or the “Company”) is pleased to announce its operating and financial results for the quarter ended June 30, 2019 and that the Toronto Stock Exchange (the “TSX”) has accepted the notice of Cardinal’s intention to commence a … Read more
Wind and solar energy creates extra, higher costs, produces fewer environmental benefits than proponents claim TORONTO—Despite rhetoric that renewable energy is cheap, wind and solar power generation comes with large—yet often ignored—costs that increase electricity prices for residents and businesses, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public … 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. As discussed in last week’s post, the AER’s Licensee Liability Rating (LLR) … Read more
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With an extended break-up due to wet conditions, coupled with summer holidays, business in late spring and early summer can slow down for many parts of the Energy Sector. This can put a strain on a company’s cash flow, especially if they have to wait longer than normal to get paid for their outstanding invoices. … Read more
CALGARY — Oilsands producer MEG Energy Corp. says it bought unused production quota room from other producers to increase its bitumen output to near maximum capacity in the second quarter despite the ongoing Alberta government oil curtailment program….
CALGARY — Growth in oilsands production over the next 20 years is expected to be slower than previously forecast, despite falling project construction costs, according to a study update by the Canadian Energy Research Institute.
Total oilsands output …
July 30, 2019 CNW MEG Energy Corp. (TSX:MEG, “MEG”) reported its second quarter 2019 operational and financial results. Highlights include: Record free cash flow of $195 million and adjusted funds flow of $227 million ($0.76 per share) in the quarter. For the 6 months ended June 30, 2019 MEG generated free cash flow of $293 … Read more
SASKATOON — The Saskatchewan government is applying to have its Supreme Court hearing on the constitutionality of the federal carbon tax pushed back.
An email from the Ministry of Justice says a delay would help Saskatchewan co-ordinate its legal chal…
One-in-six (17%) hold positive view of the administration, 69 per cent say their view is negative July 30, 2019 – The marathon that is the United States’ presidential campaign is off and running, well ahead of a November 2020 vote to determine the next leader of the free world. While Democrats prepare for the second … Read more
By Lorcan Roche Kelly Jul 30, 2019 (Bloomberg) Pound adds to losses, massive day for earnings and trade talks begin. Here are some of the things people in markets are talking about today. Sterling performance The British pound dropped below $1.2200 overnight and was trading at $1.2185 by 5:45 a.m. Eastern Time as investors pushed the currency … Read more
By Heesu Lee and Grant Smith Jul 30, 2019 (Bloomberg) Oil rose as expectations that the Federal Reserve will cut interest rates and the resumption of trade talks between the U.S. and China shored up the outlook for fuel demand.Futures advanced 0.8% in New York, trading above $57 a barrel, after climbing by the most … Read more
CALGARY — B.C. environmental activist Mike Sawyer says it’s “highly probable” he will appeal a National Energy Board ruling that a pipeline designed to deliver natural gas to the $40-billion LNG Canada project falls under provincial, not federal, juri…
CALGARY — Vermilion Energy Inc. says a refinery outage in France led to a second-quarter oil and gas production decline from the prior quarter, offset by gains in its operations in the United States and Australia.
CEO Tony Marino says the Calgary-base…
July 29, 2019 CALGARY, July 29, 2019 /PRNewswire/ – Vermilion Energy Inc. (“Vermilion”, “We”, “Our”, “Us” or the “Company”) (TSX, NYSE: VET) is pleased to report operating and condensed financial results for the three and six months ended June 30, 2019. The unaudited financial statements and management discussion and analysis for the three and six months … Read more
By Heesu Lee and Grant Smith Jul 29, 2019 Oil steadied near $56 a barrel in New York before the resumption of talks aimed to resolve a trade dispute between the U.S. and China, while political tensions in the Persian Gulf continue to simmer.Futures were little changed in New York after rising 1% last week. … Read more
By Sam Unsted July 29, 2019 Good morning. The week is set to be dominated by trade talks and the Federal Reserve, a slew of takeovers emerged over the weekend and Boris Johnson’s first full week at Number 10 begins. Here’s what’s moving markets. Talks Restart It’s a huge week for the global economy, topped by U.S. data, … Read more
July 26, 2019 TC Energy Corp’s proposed Coastal GasLink pipeline to supply the LNG Canada project in northern British Columbia is not subject to federal regulation, Canada’s National Energy Board (NEB) said on Friday. The decision means the 670-kilometer-long (416 miles) natural gas pipeline will not have to submit a new application for approval and … Read more
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www.navasure.ca July 29, 2019 – Toronto – Navacord Corp. is pleased to announce industry veteran, Martin Delaney, as the CEO of Navasure Structured Surety Solutions, Canada’s preeminent and only dedicated provider of structured surety solutions for the energy and power industries, effective July 22, 2019. “I am excited to head up Navasure™ and deliver … Read more
Shield Industries Ltd. oilfield equipment manufacturing facility in Hythe, AB. CALGARY – July 29, 2019 – Shield Industries Ltd (“Shield”) is pleased to announce the commissioning of its new manufacturing facility in Hythe, AB. The new location will be focused on oilfield equipment fabrication such as storage tanks, low pressure vessels, pressure piping and structural steel. This … Read more
Each week Josef Schachter will give you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold newsletter covering the general energy market and 34 energy and energy service companies with regular updates. He holds quarterly subscriber webinars and provides Action BUY and SELL … Read more
Project Reconciliation says tour will begin in Kamloops in mid-August An Indigenous group planning to bid for ownership of the Trans Mountain pipeline is launching a “listening tour” of Indigenous communities in B.C. and Alberta. Project Reconciliation says the tour will begin in Kamloops in mid-August and will invite First Nations and Métis communities along the … Read more
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Canada’s drilling rig count up 9 actively drilling rigs according to data collected by Baker Hughes for the week ending July 26, 2019 From one week ago, Alberta rig counts increased 10 to 73 and the Saskatchewan rig count decreased 1 to 38. Oil drilling increased 2 to 85 and gas increased 7 to 42. … Read more
CALGARY — The Alberta government says it will again ease its crude oil curtailment program for September.
In a news release, it says it will allow the maximum amount to be produced by the province’s senior oil companies to rise to 3.76 million barrels…
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By Alex Nussbaum Jul 26, 2019 (Bloomberg) Oil finished higher for the week after a volatile trading session that pitted gnawing doubts about global demand against supply threats from the Middle East and beyond.Futures gained 0.3% in New York on Friday and ended the week up 1%, reversing from last week’s steep loss. Oil turned … Read more
July 26, 2019 Reuters U.S. energy firms this week reduced the number of oil rigs operating for a fourth week in a row as producers follow through on plans to cut spending on new drilling and completions. Drillers cut three oil rigs in the week to July 26, bringing the total count down to 776, the … Read more
July 26, 2019 Reuters An indigenous-led group has submitted a preliminary proposal to the Canadian government outlining its plans to bid for a majority stake in the Trans Mountain oil pipeline expansion project, a spokeswoman for the group said on Friday. Project Reconciliation has previously said it wants to buy a 51% stake in the … Read more
Liberals broke promise previous campaign promise to balance in 2019 Conservatives have said they will balance in four years instead of two New Democrats, Greens have yet to make any pledge OTTAWA, ON: The Canadian Taxpayers Federation today challenged the leaders of the major federal political parties to show how they will federal budget to balance … Read more
By Lorcan Roche Kelly Jul 26, 2019 (Bloomberg) U.S. GDP due, a plethora of corporate news, and new U.K. PM off to a bad start on Brexit. Here are some of the things people in markets are talking about today. Where’s the growth? European Central Bank President Mario Draghi yesterday said that he did not see … Read more
By Saket Sundria and Grant Smith Jul 26, 2019 (Bloomberg) Oil is set for a weekly increase as U.S. crude stockpiles tighten and lingering tensions surrounding Iran stoke concerns that energy flows from the Middle East may be disrupted.Futures gained 0.6% in New York on Friday and are up 1.4% this week. American crude inventories … Read more
July 25, 2019 CALGARY, July 25, 2019 /PRNewswire/ – TransAlta Corporation (“TransAlta” or the “Company”) (TSX: TA; NYSE: TAC) today commented on the Government of Alberta’s announcement that the energy-only market framework in Alberta will be maintained. The promise by the Government of Alberta to deliver a decision on market structure within 90 days was fulfilled, thereby reducing significant uncertainty for TransAlta in … Read more
July 26, 2019 | Source: Questerre Energy Corporation 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, July 26, 2019 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported that it has recently engaged SNC-Lavalin Inc., one of Canada’s … Read more
July 25, 2019 Reuters Enbridge Inc on Thursday said it was open to working with the Bad River Band and will consider re-routing its Line 5 oil pipeline after the native American tribe in Wisconsin sued the company seeking to shut the pipeline. The Bad River Band filed a federal lawsuit against Enbridge on Tuesday in … Read more
July 25, 2019 Reuters Canada’s Suncor Energy is hopeful the Alberta government will decide “in the next month or so” to strike a deal that would allow oil producers to boost their output despite ongoing curtailments, the company’s chief executive said on Thursday. Alberta is Canada’s energy heartland but crude production has been limited since the … Read more
CALGARY — A federal-provincial panel says a proposed northeastern Alberta oilsands mine would be in the public interest, even though it would likely significantly harm the environment and Indigenous people.
Vancouver-based Teck Resources Ltd. aims to …
CALGARY — Precision Drilling Corp. has raised its debt-reduction target for 2019 to $200 million as a result of unexpectedly strong cash flow in the second quarter.
The oilfield services company says improved pricing and cost control have allowed it t…
HALIFAX — ExxonMobil Canada says a helicopter on its way to an off-shore gas platform near Nova Scotia had to return to the Halifax International Airport.
The Sikorsky S-92 helicopter operated by Canadian Helicopter Offshore experienced an unexplained…
OTTAWA — Canada has no plans to contribute a ship to Britain’s nascent navy coalition to defend international shipping in the Strait of Hormuz.
A spokesman for Defence Minister Harjit Sajjan says Canada has not been asked to contribute to the coalitio…
ST. JOHN’S, N.L. — Efforts continue off Newfoundland’s east coast to monitor and clean up oil remaining from the estimated 12,000 litres that spilled from the Hibernia platform last week.
The sheen of oil, first spotted on July 17, had broken into two…
By Lorcan Roche Kelly Jul 25, 2019 (Bloomberg) Decision day at the ECB, more corporate results, and Puerto Rico governor resigns. Here are some of the things people in markets are talking about today. Easing? Today’s monetary policy decision from the European Central Bank may be an unusual mid-summer one, as policymakers might actually decide to change … Read more
By Saket Sundria and Grant Smith Jul 25, 2019 (Bloomberg) Oil advanced in New York as declining U.S. crude stockpiles and fears over Middle East exports mingled with concerns that slower economic growth will stifle demand.West Texas Intermediate futures added 1% on Thursday as the dollar weakened before a meeting of the European Central Bank, … Read more
CALGARY — Husky Energy Inc. says its second-quarter financial results were dragged by a heavy maintenance schedule, non-routine write offs and expenses, but those negatives were partly offset by a one-time tax benefit.
The integrated oil and gas compa…
by Kris Sims – Franco Terrazzano – Canadian Taxpayers Federation This column was originally published in the Toronto Sun The next time you see pipeline protesters chaining themselves to a bulldozer, know that your taxes may have paid for their activism. The federal government has given $2.5 million of your money to the Canadian Centre for Policy Alternatives so it can “shine a … Read more
CALGARY — Cenovus Energy Inc.’s continuing operations had a $1.78-billion net profit in the second quarter, turning around from a $410-million loss reported at the same time last year, but revenue and operating earnings were below estimates.
The Calga…
Company generates over $830 million in second-quarter free funds flow July 25, 2019 | Source: Cenovus Energy Inc Cenovus SAGD project View of a Cenovus steam-assisted gravity drainage oil sands project in northern Alberta. Cenovus Energy Inc Steam generators at Cenovus’s Foster Creek project in northern Alberta Steam generators at Cenovus’s Foster Creek project in northern … Read more
July 25, 2019 06:00 ET | Source: Precision Drilling Corporation CALGARY, Alberta, July 25, 2019 (GLOBE NEWSWIRE) — (Canadian dollars except as indicated) This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the … Read more
July 25, 2019 | Source: Husky Energy Inc. This news release contains references to the non-GAAP financial measures “funds from operations”, “free cash flow”, “net debt”, “net debt to trailing funds from operations”, “operating margin”, “EBITDA” and “operating netback”. Please refer to “Non-GAAP measures” at the end of this news release. CALGARY, Alberta, July 25, 2019 … Read more
July 24, 2019 Globe Newswire CALGARY, Alberta, July 24, 2019 (GLOBE NEWSWIRE) — “This quarter, we delivered $3.0 billion in funds from operations, a new second quarter record, and $1.3 billion of operating earnings due to our team delivering solid operating performance while taking full advantage of our flexibility to maximize our cash flow, despite the impact of … Read more
EnerTech Staffing and Workforce Solutions is pleased to return to the 2020 Forward Summit. We are committed to working with Indigenous communities and industry to advance economic opportunities by increasing participation in the workplace. To learn more about the Forward Summit please visit their website at www.forwardsummit.ca EnerTech is a Certified Aboriginal Business (CAB), based … Read more
MONTREAL — Quebec Economy Minister Pierre Fitzgibbon said Wednesday the province will not offer financial help to SNC-Lavalin Group Inc. in spite of the construction giant’s gathering financial, legal and political storm.
“Despite the obvious operatio…
July 24, 2019 Reuters OPEC has shifted the goalposts for assessing an overhang in oil inventories, giving the group more room to prolong production cuts, while analysts warn the move will offer a distorted view of market conditions. Ever since the Organization of the Petroleum Exporting Countries and allies led by Russia – a grouping known … Read more
CALGARY — An Indigenous group planning to bid for ownership of the Trans Mountain pipeline is launching a “listening tour” of Indigenous communities in B.C. and Alberta.
Project Reconciliation says the tour will begin in Kamloops in mid-August and wil…
FREDERICTON — New Brunswick’s Indigenous leaders are again expressing their concerns about consultations with the province’s Progressive Conservative government around shale gas development.
In a news release, the province’s 15 Mi’kmaq and Wolastoqey …
CALGARY — Suncor Energy Inc. is reporting second-quarter net earnings of $2.73 billion or $1.74 per share, almost three times the $972 million or 60 cents it reported in the same period last year.
It says earnings were buoyed by a one-time deferred ta…
July 24, 2019 Reuters A Native American tribe in Wisconsin is suing Canadian pipeline company Enbridge Inc in a bid to have an oil pipeline that runs across its tribal land shut down and removed. The Bad River Band filed a federal lawsuit against Enbridge on Tuesday in the Western District of Wisconsin calling for the … Read more
July 24, 2019 Reuters U.S. natural gas futures fell on Wednesday to their lowest level in over a month on forecasts for cooler weather over the next two weeks than previously forecast. Front-month gas futures for August delivery on the New York Mercantile Exchange fell 8.0 cents, or 3.5%, to settle at $2.220 per million British … Read more
July 24, 2019 PR Newswire CALGARY, July 24, 2019 /PRNewswire/ – Cuda Oil and Gas Inc. (“Cuda” or the “Company“) (TSXV: CUDA) is pleased to announce that it has entered into a series of binding Asset Purchase Agreements (the “APAs“) to sell all of its oil and gas assets and related liabilities located in the Province of Quebec (“Quebec“) at … Read more
By Lorcan Roche Kelly Trade talks to restart next week, a huge day for earnings and some ugly PMI data. Here are some of the things people in markets are talking about today. Face to face U.S. Trade Representative Robert Lighthizer will lead a small team to Shanghai on Monday to restart high-level face-to-face meetings between the world’s two … Read more
By Saket Sundria and Grant Smith Oil held near $57 a barrel as a report showed a hefty drop in U.S. crude inventories and as the resumption of face-to-face trade discussions between Washington and Beijing provided a glimmer of hope for demand.Futures in New York were up 0.5% after rallying 2.7% over the previous three … Read more
July 23, 2019 Globe Newswire CALGARY, Alberta, July 23, 2019 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has published its 2018 environmental, social & governance (ESG) report detailing the company’s progress in advancing environmental, health and safety performance, investing in and engaging with the communities where it operates and maintaining the highest standards of corporate … Read more
July 23, 2019 Globe Newswire CALGARY, Alberta, July 23, 2019 (GLOBE NEWSWIRE) — (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) is pleased to announce it has entered into a strategic midstream transaction (the “Midstream Transaction”) with Tidewater Midstream and Infrastructure Ltd. (“Tidewater”). The initial capital to be received by Pipestone Energy from Tidewater pursuant … 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. The Alberta Energy Regulator’s Licensee Liability Rating (LLR) Directive 011 deemed liability … Read more
CALGARY — The Canadian oilfield services sector is expected to continue to suffer as it enters the summer drilling season despite recent developments such as the approval of the Trans Mountain pipeline expansion and the election of a conservative gove…
July 23, 2019 Globe Newswire CALGARY, Alberta, July 23, 2019 (GLOBE NEWSWIRE) — Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation“) (TSX:TWM) is pleased to announce that it: has entered into an agreement to acquire from Pipestone Energy Corp. (“Pipestone Energy“), a 100% working interest in a strategic 30 MMcf/d raw gas compression, 5,400 bbls/d … Read more
By Lorcan Roche Kelly Jul 23, 2019, 4:30 AM (Bloomberg)Debt ceiling deal, new Conservative leader announced, and tech CEOs in Washington. Here are some of the things people in markets are talking about today. Deal done President Donald Trump announced a bipartisan agreement to suspend the debt ceiling and boost spending for the next two years, averting the risk … Read more
By Saket Sundria and Grant Smith Jul 23, 2019 (Bloomberg) Oil held steady as heightened tensions in the Persian Gulf threatened to disrupt energy flows from the crude-rich region, while a tepid demand outlook kept a lid on gains.Futures in New York traded little changed after climbing 1.7% over the past two sessions. Secretary of … Read more
By Francois de Beaupuy Jul 23, 2019 If you’re offered the job of running one of the world’s largest companies, you don’t usually have just an hour to decide if you want it. But that was the challenge Patrick Pouyanne faced when the chief executive officer of oil giant Total SA died suddenly in a … Read more
Insight you can expect: Gain a Bigger Piece – How to be part of the Canadian government’s ambition to double their share of the N. American PetChem market, and benefit from the $1.1bn on offer to do so. Not When but Where – An in-depth comparison of Canada’s leading provinces to help you locate the … Read more
CALGARY — The National Energy Board says its decisions and orders regarding the Trans Mountain pipeline expansion issued prior to last summer when a court overturned its approval will remain valid except where circumstances have changed.
The decision …
CALGARY — Cleanup crews are on site in northeastern Alberta after an estimated 100,000 litres of salty produced water leaked from a pipeline operated by Baytex Energy Corp.
The Alberta Energy Regulator says the leak was reported last Wednesday.
It say…
July 22, 2019 Globe Newswire CALGARY, Alberta, July 22, 2019 (GLOBE NEWSWIRE) — PrairieSky Royalty Ltd. (“PrairieSky” or the “Company“) (TSX: PSK) is pleased to announce its second quarter (“Q2 2019“) operating and financial results for the period ended June 30, 2019. PRESIDENT’S MESSAGE Second Quarter 2019 Highlights: Funds from Operations totaled $58.0 million ($0.25 per … Read more
July 22, 2019 CNW Continued successful execution of asset sale program further strengthens financial position and sharpens focus on core businesses CALGARY, July 22, 2019 /CNW/ – AltaGas Ltd. (AltaGas) (TSX: ALA) announced today that it has entered into a definitive agreement for the sale of its portfolio of U.S. distributed generation assets held by its subsidiaries WGL Energy Systems, … Read more
By Anthony DiPaola Jul 22, 2019 Saudi Arabia, the world’s biggest oil exporter, is poised to start generating wind power within three years as part of an effort to harness renewable energy to cut local demand for fossil fuels.The renewable energy units of Electricite de France SA and Abu Dhabi’s Mubadala Investment Co. completed arrangements … Read more
(Bloomberg) China extends an olive branch, Iran tensions remain very high, and Hong Kong violence escalates. Here are some of the things people in markets are talking about today. Goodwill Chinese state media are saying that face-to-face trade talks with the U.S. may happen soon as the country engaged in a number of goodwill gestures over the weekend. The … Read more
By Sharon Cho and Grant Smith Jul 22, 2019 (Bloomberg) Oil rose again, heading for its biggest gain in more than a week, after Iran’s seizure of a British tanker fanned concerns of a confrontation that could disrupt Middle East supplies.Brent futures added 2% to trade near $64 a barrel in London. The U.K. demanded … Read more
CALGARY — A Calgary judge has denied British Columbia’s attempt to block Alberta legislation that would allow that province to stop oil shipments to the coast.
In a decision released Friday on the so-called Turn Off the Taps bill, Queen’s Bench Justic…
Scovan Engineering is honoured to be the winner of the Community Engagement Award at the Global Petroleum Show Awards. Scovan was recognized for their work with GreenLearning Canada Foundation & their annual Solar Oven Challenge. We believe STEM education is the foundation of the next generation of innovators and leaders. We are very proud to be a part of … Read more
The Chemco Rope Access (RA) concept is simple in theory; provide a safe, innovative, and cost effective option for working at heights. Chemco has partnered with Pacific Ropes, a like-minded company, who’s experienced team of IRATA certified employees have extensive experience in the Rope Access (RA) industry and provide training to Chemco employees and work … Read more
It took us decades to master the extraction of Oil & Gas from below the ground, liquid gold was the name given to it. From Edwin Drake along the banks of Oil creek with his wooden structure in 1859 to a stupefying steel structures in sub-zero temperature of Antarctica, we have come a … Read more
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Some of the earliest memories of many Indigenous people are of being taught to respect our environment, and to use our resources wisely, writes Michelle Corfield. By MICHELLE CORFIELD (Regina Leader-Post) What does a pipeline have to do with reconciliation with Indigenous peoples? Quite a lot, it turns out. There’s a growing realization that to … Read more
Acheson, Alberta, July 19, 2019 – Frac Shack Inc. (Frac Shack) announced the launch of its newest innovation, the NG SideKick™ (SideKick). The SideKick is the industry’s most sophisticated on-pad gas processing unit that takes in field natural gas and processes it down to a safe and usable state for multiple uses on any location. … Read more
Each week Josef Schachter will give you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold newsletter covering the general energy market and 34 energy and energy service companies with regular updates. He holds quarterly subscriber webinars and provides Action BUY and SELL … Read more
July 21, 2019 Reuters Warship and crude oil tanker transit the Strait of Hormuz Iran’s Revolutionary Guards said they had captured a British-flagged oil tanker in the Persian Gulf after Britain seized an Iranian vessel earlier this month, further raising tensions along a vital international oil shipping route. Iran’s ambassador to Britain warned against escalating … Read more
Canada’s drilling rig count up 1 actively drilling rigs according to data collected by Baker Hughes for the week ending July 19, 2019 From one week ago, Alberta rig counts increased 1 to 63 and the Saskatchewan rig count stayed at 39. Oil drilling decreased 2 to 83 and gas increased 3 to 35. … Read more
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Decision outlines how regulatory processes will resume News Release For Immediate Release July 19, 2019 – Calgary, Alberta – National Energy Board The NEB has decided how regulatory processes for the Trans Mountain Expansion Project (Project) will continue, including detailed route and condition compliance processes. NEB decisions and orders issued prior to the Federal Court of … Read more
By Harkiran Dhillon Jul 19, 2019 (Bloomberg) – Oil jumped in after-market trading following the Iranian Revolutionary Guard Corp seizing a British oil tanker and a Liberian-flagged ship in the Strait of Hormuz, raising stakes in the critical oil chokepoint.Brent futures rose as much as 1.4% from its settlement, while WTI futures also edged higher … Read more
July 19, 2019 Reuters U.S. energy firms this week reduced the number of oil rigs operating for a third week in a row as drillers follow through on plans to cut spending with oil prices declining amid a global supply glut. Drillers cut five oil rigs in the week to July 19, bringing the total count … Read more
July 18, 2019 Reuters Production was shut down for a second day at the 220,000-barrel-per-day Hibernia oil platform off the coast of Atlantic Canada as crews worked to clean up an oil spill into the ocean, Hibernia’s largest shareholder ExxonMobil Corp said on Thursday.A sheen was first spotted on the water near the platform on Wednesday … Read more
July 19, 2019 The International Energy Agency (IEA) doesn’t expect oil prices to rise significantly because demand is slowing and there is a glut in global crude markets, its executive director said on Friday. “Prices are determined by the markets…If we see the market today we see that the demand is slowing down considerably,” said … Read more
By Sharon Cho and Alex Longley Jul 19, 2019 (Bloomberg) Oil snapped four days of losses after the U.S. said it downed an Iranian drone near the Strait of Hormuz, stoking concern crude flows from the Middle East may be disrupted.Futures rose as much as 1.9% in New York, paring their steepest weekly decline since … Read more
By Lorcan Roche Kelly Jul 19, 2019, 4:30 AM (Bloomberg) China and U.S. speak by phone, central bank easing bets mount, and it could be an interesting weekend in European politics. Here are some of the things people in markets are talking about today. Talking U.S. and Chinese senior officials spoke by phone yesterday, a USTR spokesman … Read more
July 18, 2019 | Source: Pulse Seismic Inc. CALGARY, Alberta, July 18, 2019 (GLOBE NEWSWIRE) — Pulse Seismic Inc. (TSX:PSD) (OTCQX:PLSDF) (“Pulse” or “the Company”) is pleased to report its financial and operating results for the three and six months ended June 30, 2019. The unaudited condensed consolidated interim financial statements, accompanying notes and MD&A are … Read more
July 18, 2019 Globe Newswire All financial figures are in Canadian dollars CALGARY, Alberta, July 18, 2019 (GLOBE NEWSWIRE) — Suncor today released its annual Report on Sustainability which details the company’s environmental, social and economic performance. Suncor’s perspective on the challenges and opportunities of climate change, and the transition to a low-carbon economy are contained in … Read more
By Kevin Orland and Robert Tuttle Jul 18, 2019 Canadian natural gas producers are asking Alberta’s government to give drillers a break on their royalty payments in return for cutting back output during periods of heavy pipeline maintenance, a bid to smooth out the province’s volatile gas market.That would give producers an incentive to dial … Read more
VICTORIA — Prime Minister Justin Trudeau says Ottawa is open to proposals from the private sector for a refinery in British Columbia, as a public inquiry into the province’s soaring gas prices reviews possible solutions.
The prime minister says he kno…
Koleya Karringten I was with my young son the other day, unwinding and spending some quality time while watching a show on the Discovery Channel – one of those nature programs with a soothing British narrator. Turtle eggs were hatching on a beautiful Caribbean beach; as thousands of tiny babies raced across the sand, dodging … Read more
MORDEN, Man. — A Winnipeg man is facing mischief charges after an energy company employee reported that a colleague was threatening to bomb a pipeline in southern Manitoba.
RCMP say a manager at the company told police last October that one of his emp…
ST. JOHN’S, N.L. — Oil production is temporarily shut down on the Hibernia oil platform off Newfoundland’s east coast after about 12,000 litres spilled out of a storage container into the ocean.
A report on the website of the Canada-Newfoundland and L…
CALGARY — The Alberta Liabilities Disclosure Project says the province’s largest oil and gas companies are underestimating how much it will cost to clean up thousands of oil and gas wells drilled over past decades.
The coalition of landowners, environ…
BILLINGS, Mont. — Attorneys general for North Dakota and Montana asked the Trump administration on Wednesday to overrule a Washington state law that imposed new restrictions on oil trains from the Northern Plains to guard against explosive derailments…
By Lorcan Roche Kelly Jul 18, 2019 (Bloomberg)Trade talks difficulty, Iran’s Hormuz threat, and another big day for earnings. Here are some of the things people in markets are talking about today. Key demands President Donald Trump’s continued complaints about China’s lack of agricultural concessions and Beijing’s insistence on the easing of trade restrictions on technology giant Huawei Technologies Co. mean … Read more
Capstone recently saved additional remediation work on an abandonment for a client in southern Alberta. They were able to do this by definitively showing a marked reduction in flow and pressure on the surface casing vent that would not have passed a bubble test for several days utilizing their unique Ventmeter technology during abandonment operations. … Read more
By Sophie Alexander (Bloomberg) Welcome to Bloomberg Work Wise, a series of reports aimed at helping young professionals navigate their way to financial and career success. The cliche about young professionals (one of them anyway) is they won’t settle for a job that just pays well—it has to be something they want to do. It has … Read more
By Alex Longley Jul 18, 2019 Oil extended gains after Iran confirmed it had seized a foreign oil tanker in the Persian Gulf earlier this week.Brent crude gained as much as 1.3%, reversing some of the heavy losses the global benchmark suffered in the previous two sessions. Iran’s Revolutionary Guards said it captured a foreign vessel … Read more
July 17, 2019 Reuters Enbridge Inc has delayed the start of an open season to solicit bids for contracted space on its Mainline oil pipeline system, North America’s largest oil-shipping network, three market sources told Reuters on Wednesday. The reason for the delay was not immediately clear. Canadian pipeline company Enbridge plans to turn the Mainline … Read more
July 17, 2019 CNW CALGARY, July 17, 2019 /CNW/ – The Kinder Morgan Canada Limited (TSX: KML) board of directors has declared a dividend for the second quarter of 2019 of $0.1625 per restricted voting share ($0.65 annualized), payable on August 15, 2019, to restricted voting shareholders of record as of July 31, 2019. KML’s restricted voting share dividends are eligible dividends … Read more
July 17, 2019 | Source: Prairie Provident Resources Inc. CALGARY, Alberta, July 17, 2019 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to provide an operational update outlining the successful initial results from a new well, which supports the Company’s established asset base within the southern portion of its core … Read more
VANCOUVER—The ability of Canada’s energy sector to attract investment has been weakened by several government policies in recent years, all the while investment in the United States has soared, finds a new collection of essays released today by the Fraser Institute, an independent, non-partisan Canadian policy think-tank. “While Canada’s energy sector has suffered from insufficient … Read more
CALGARY — The CEOs of nine Alberta natural gas producers have released an open letter to Premier Jason Kenney asking him to show “bold leadership” in supporting a plan to restrict production to boost low gas prices.
The letter warns the province faces…
SWAN HILLS, Alta. — A large spill of crude oil and produced water at a Cardinal Energy facility near Swan Hills is being cleaned up.
The Alberta Energy Regulator has few details about Saturday’s spill on its compliance reporting website.
It says 320,0…
CALGARY — Kinder Morgan Canada Ltd. is reporting second-quarter income from continuing operations of $21.6 million, a decrease of $1.9 million from the second quarter of 2018.
Earnings were boosted in the second quarter of 2018 by the gain on the sale…
July 17, 2019 Accesswire CALGARY, AB / ACCESSWIRE / July 17, 2019 / Point Loma Resources Ltd. (TSX VENTURE: PLX) (the “Corporation” or “Point Loma”) is pleased to announce the retention of Mackie Research Capital Corporation (“MRCC”) to market the Corporation’s Wizard Lake Rex oil property in central Alberta. Highlights: MRCC and Point Loma have … Read more
By Lorcan Roche Kelly Jul 17, 2019 (Bloomberg)Trump bangs the tariff drum again, debt limit talks, and Wall Street earnings roll in. Here are some of the things people in markets are talking about today. Tariff reminder President Donald Trump reiterated that he could add more tariffs to Chinese imports if he wants. His comments hit stocks in the … Read more
By Robert Tuttle and Kevin Orland Jul 17, 2019 (Bloomberg) Heavy Canadian crude prices narrowed to the smallest discount against U.S. benchmark futures since April as crude-by-rail shipments were forecast to increase.Western Canadian Select, an oil sands benchmark, shrank $1.30 to $9.20 a barrel below West Texas Intermediate crude Tuesday, data compiled by Bloomberg show. … Read more
CALGARY, July 16, 2019 /CNW/ – Connacher Oil and Gas Limited (“Connacher” or the “Company”) is pleased to announce the approval of the Company’s Plan of Compromise and Arrangement, as amended and restated in accordance with its terms (the “Plan”), by the required majorities of affected creditors and the Court of Queen’s Bench of Alberta (the “Court”) in the … Read more
July 16, 2019 Reuters The differential on Canadian heavy crude widened slightly on Tuesday as the monthly trading window drew to a close: Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, settled at $9.50 per barrel below West Texas Intermediate (WTI) oil, according to Net Energy Exchange. On Monday, WCS for … Read more
July 16, 2019 Reuters FortisBC has signed Canada’s first long-term supply agreement to produce liquefied natural gas for export to China, the company said in a statement on Tuesday.Under the two-year agreement with China’s Top Speed Energy Corp, 53,000 tonnes of LNG will be shipped from the Tilbury facility in British Columbia to China by summer … 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. Following the Supreme Court of Canada Redwater decision in January in favour … Read more
The Insight Analytical automated floating piston sampler is designed to completely automate the sample collection process. In removing the human element it also removes the variance in collection technique, the risk to the health of your operators, and the time spent collecting and managing samples. Also saves your company money in reduced manpower needs. Features … Read more
Calgary, AB (July 17, 2019) – Calculating your estimated cost savings has never been easier. This week STEP has launched an online savings calculator that operators can use to estimate their cost savings when they use STEP’s bi-fuel fracturing fleet. Bi-fuel pumps use a mixture of natural gas and diesel which reduces diesel usage, improves operational efficiency … Read more
August 27 – 29, 2019 Cincinnati Marriott Northeast Mason, Ohio Register Today! The High Temperature Life Assessment Conference will focus on design, inspection, testing, fitness-for-service, and remaining life assessments of components operating in the high temperature regime, with emphasis on creep, creep fatigue interaction, high-temperature fracture mechanics, and high-temperature hydrogen attack. There will be a … Read more
VANCOUVER — Four oil and gas companies are expected to answer questions today about how they use the Trans Mountain pipeline, how refinery closures affect their prices and other factors that could contribute to British Columbia’s volatile prices at th…
By David Yager – July 16, 2019 EnergyNow.ca Ottawa’s recent “climate emergency” declaration demands decisive action. Even if we act now the word “emergency” means it’s already too late. Fire prevention is proactive. Fire control is emergency response. Federal Energy Minister Catherine McKenna assures us forest fires, floods and droughts can be mitigated by impeding … Read more
CALGARY — Encouraging data points are forcing economists to consider upgrading their expectations for weak 2019 economic growth in Alberta as the province continues to recover from the effects of extreme heavy oil price weakness late last year.
The pr…
FortisBC is considering further expansions to its liquefaction facility on the Fraser River near Vancouver after landing its first term contract to send Canadian LNG to China.
The utility company, which has operated its Tilbury LNG plant since 1971, s…
By Sam Unsted Jul 16, 2019 (Bloomberg) Good morning. Increasingly hostile Brexit talks, phone calls about trade and the debate surrounding Facebook’s Libra cryptocurrency. Here’s what’s moving markets. Hostile Talks The meeting held between the chief negotiators on either side of Brexit was among the most difficult encounters held in the past three years, according to European … Read more
By Tsuyoshi Inajima and Alex Longley Jul 16, 2019 (Bloomberg) Oil traded near $60 a barrel amid forecast U.S. crude inventories fell for a fifth week, while some production in the Gulf of Mexico is returning as a tropical storm eased.Futures were up 0.2% in New York after sliding 1.1% on Monday. Oil producers and refiners along … Read more
Four-in-ten Canadians, and six-in-ten CPC supporters, are absolutely certain of their vote in October July 16, 2019 – While the Conservative Party of Canada maintains a comfortable eight-point lead over the governing Liberals, all eyes are on the latter party to see if its slow increase in voter intention over the last three months will maintain … Read more
By Ryan Collins Jul 16, 2019 (Bloomberg) The engine of America’s shale boom is beginning to sputter. Slowing Growth The almost relentless thrust that has doubled crude output from the Permian Basin in three years is showing some signs of waning. Oil flows from the formation spanning West Texas and New Mexico are set to … Read more
By Natalie Obiko Pearson Jul 15, 2019 (Bloomberg) Chevron Corp. is seeking approval to modify its plans for a liquefied natural gas export facility on Canada’s Pacific Coast to an all-electric design that it says will result in the lowest greenhouse-gas emissions per ton of LNG of any large project in the world.Chevron and its … Read more
CALGARY — Higher oil prices are expected to boost cash flow for the large Canadian crude producers as they roll out second-quarter results beginning next week, but analysts say the extra money is unlikely to be added to growth budgets.
Canadian oil pr…
July 15, 20195 Reuters The differential on Canadian heavy crude narrowed on Monday to trade at the tightest discount since April: * Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, settled at $9.15 per barrel below West Texas Intermediate (WTI) oil, according to Net Energy Exchange. On Friday, WCS for August … Read more
By Stephen Cunningham Jul 15, 2019 (Bloomberg) The fracklog in major U.S. shale plays fell for a fourth straight month, the longest stretch of declines since 2016, as producers came under intense pressure from shareholders to rein in costs while boosting output.The number of drilled but uncompleted wells, or DUCs, fell by 41 to 8,248 … Read more
VANCOUVER — An industry expert says a public inquiry into British Columbia’s record-breaking gasoline prices may increase the public’s understanding of a murky market but the provincial government’s options for response are limited.
Michael Ervin, sen…
By Lorcan Roche Kelly Jul 15, 2019 China growth slows while outlook improves, Wall Street earnings kick off, and Iran deal on its last legs. Here are some of the things people in markets are talking about today. Slowing? China’s economy slowed to the weakest pace since quarterly data began in 1992, rising 6.2% in the second quarter … Read more
By Saket Sundria and Alex Longley Jul 15, 2019 (Bloomberg) Oil traded near $60 a barrel after a storm shut almost three-quarters of U.S. Gulf of Mexico crude production, even as lingering demand concerns continue to dent the outlook.Futures rose 0.2% in New York. About 73% of crude output in the Gulf of Mexico was … Read more
Osprey Informatics is seeking an energetic, insightful, imaginative and analytical person to join our growing SaaS firm in Calgary, Alberta. In just 5 years Osprey has built a strong product based on real market needs, an energetic and talented team that collaborates daily, and an enviable industry reputation. These strengths have helped Osprey attract a … Read more
Click here to see the specifications for Caterpillar G3608LE A3 Ariel JGC/4 Reciprocating Compressor, 2370 hp 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
July 14, 2019 – Franco Terrazzano Imagine a tax so bad that it’s uniting Alberta and Quebec. With all of the heated rhetoric over pipelines and equalization, that sort of unity seems like an impossibility. But it turns out the tax is all too real and it’s Ottawa’s carbon tax. The Trudeau government has been … Read more
by Deidra Garyk Dear Federal Leaders justin.trudeau@parl.gc.ca andrew.scheer@parl.gc.ca Jagmeet.Singh@parl.gc.ca Elizabeth.May@parl.gc.ca maxime.bernier@parl.gc.ca I’ve been thinking a lot about the win by the Toronto Raptors, Canada’s only basketball team. I don’t watch a lot of sports. Well, I don’t really watch any sports. But I enjoy basketball, so I was excited about the Raptors’ success and found myself … Read more
Fair trade Canadian oil and gas is produced to the best environmental standards on earth and is the largest single contributor to Canada’s economy.
CALGARY — Prime Minister Justin Trudeau has told Liberal supporters their party is best positioned to get major projects like the Trans Mountain pipeline expansion built because it’s able to take “difficult compromise positions” between growing the ec…
July 12, 2019 17:23 ET | Source: Marksmen Energy CALGARY, Alberta, July 12, 2019 (GLOBE NEWSWIRE) — Marksmen Energy Inc. (“Marksmen” or the “Company”) announces that it is increasing its previously announced non-brokered private placement of units (the “Units”) of Marksmen at a price of $0.05 per Unit by $150,000 for aggregate gross proceeds of up to … Read more
July 12, 2019 07:00 ET | Source: STEP Energy Services Ltd. CALGARY, Alberta, July 12, 2019 (GLOBE NEWSWIRE) — STEP Energy Services Ltd. (“STEP”) intends to release its 2019 second quarter results on Thursday, August 8, 2019 before markets open and will host a conference call at 8:00 a.m. MT (10:00 a.m. ET) on the same morning. … Read more
July 12, 2019 Reuters The discount on Canadian heavy crude narrowed on Friday to trade at less than $11 a barrel:* Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, last traded at $10.65 per barrel below West Texas Intermediate (WTI) oil, according to Net Energy Exchange. On Thursday, WCS for August … Read more
EDMONTON — Alberta and Quebec want to have their say when British Columbia goes to the Supreme Court for a ruling on who is in charge of interprovincial projects like pipelines.
Both provinces say they have filed a notice of intervention in B.C.’s app…
Canada’s drilling rig count down 3 actively drilling rigs according to data collected by Baker Hughes for the week ending July 12, 2019 From one week ago, Alberta rig counts decreased 3 to 62 and the Saskatchewan rig count increased 3 to 39. Oil drilling increased 5 to 85 and gas decreased 8 to 40. … Read more
EDMONTON — Prime Minister Justin Trudeau is dismissing claims by conservative politicians that national unity is under threat.
The Liberal leader says conservative politicians are playing petty politics, which is hurting people across the country.
“Co…
Reuters U.S. energy firms this week reduced the number of oil rigs operating for a second week in a row as drillers follow through on plans to cut spending this year. Drillers cut four oil rigs in the week to July 12, bringing the total count down to 784, the lowest since February 2018, General … Read more
SACRAMENTO, Calif. — California Gov. Gavin Newsom said Friday he wants to move the nation’s most populous state away from hydraulic fracturing, a day after he fired the state’s top oil and gas regulator for issuing twice as many fracking permits this …
By Grant Smith and Tsuyoshi Inajima Jul 12, 2019 (Bloomberg) Oil headed for a weekly increase as a storm in the Gulf of Mexico and simmering Middle East tensions supported the market, though the outlook remained clouded by concerns of a renewed surplus.Futures rose 0.5% in New York on Friday, pushing this week’s increase above … Read more
By Grant Smith Jul 12, 2019 (Bloomberg) Global oil stockpiles swelled surprisingly in the first half of this year as production cuts by OPEC and its partners failed to prevent the return of a surplus, the International Energy Agency said.World supply exceeded demand at a rate of 900,000 barrels a day during the first six … Read more
By Kevin Crowley and Rachel Adams-Heard Jul 12, 2019 (Bloomberg) The promise of the Permian is shrinking.Producers in the nation’s oil-rich shale basins are dialing back growth plans in the face of a growing panoply of problems that’s killing returns, and keeping skeptical investors away.The constraints are manifold: pipeline limits, reduced flow from wells drilled … Read more
By Lorcan Roche Kelly (Bloomberg) Fed chiefs swim against dovish tide, trade-war damage piles up, and another an oil-market warning. Here are some of the things people in markets are talking about today. Not so fast.. Markets have a July rate cut from the Federal Reserve as the base case following Chair Jerome Powell’s two-day testimony to … Read more
July 11, 2019 Globe Newswire CALGARY, Alberta, July 11, 2019 (GLOBE NEWSWIRE) — Pieridae Energy Limited (Pieridae or the Company) (TSXV: PEA) today announced it has negotiated extensions of the key deadlines under its 20-year agreement with German utility Uniper. These include expected commercial deliveries of gas to Uniper to start between November 30th, 2024 and May 31st, … Read more
July 11, 2019 Globe Newswire CALGARY, Alberta, July 11, 2019 (GLOBE NEWSWIRE) — Delphi Energy Corp. (“Delphi” or the “Company”) announces that the annual borrowing base redetermination of its senior credit facility has been finalized. The amended credit facility has a borrowing base of $100.0 million reducing to $90.0 million upon the earlier of September 30, 2019 and the … Read more
By Luke Kawa Jul 11, 2019 The Bank of Canada’s firmly entrenched holding pattern on rates will be put to the test by the country’s ability to withstand a deceleration in the world’s largest economy and its biggest trading partner.The Ottawa-based central bank left the overnight rate unchanged at 1.75% on Wednesday for a sixth straight decision, … Read more
SASKATOON — Northern premiers say they expect provinces to do their part when it comes to reducing greenhouse gases in Canada.
The leaders of the Northwest Territories, Yukon and Nunavut brought up the issue in Saskatoon at the annual meeting of Canad…
CALGARY — Cenovus Energy Inc. says its thermal oilsands operations in northern Alberta produced their one billionth barrel of bitumen on Wednesday.
The milestone comes about 18 years after Cenovus’ Foster Creek facility was launched in 2001 as the fir…
OTTAWA — “Your secret fuel tax will undoubtedly increase the cost of gasoline by at least another four cents a litre, a fact you continue to hide.” — Conservative Leader Andrew Scheer in a letter to Prime Minister Justin Trudeau
—
Conservative Lead…
July 11, 2019 by EnergyNow Media By Lorcan Roche Kelly Jul 11, 2019 (Bloomberg) Day two of Powell, things are heating up in the Persian Gulf, and ECB minutes due. Here are some of the things people in markets are talking about today. Over easy Fed Chairman Jerome Powell is in the Senate today for his second … Read more
By Anthony DiPaola Jul 11, 2019 (Bloomberg) Saudi Arabia is fulfilling its pledge to make deeper cuts in oil output than the OPEC+ agreement on output requires, according to the first indication of the kingdom’s production since the supplier group extended curbs earlier this month.The de facto leader of the Organization of Petroleum Exporting Countries … Read more
One billion barrels of cumulative oil sands production July 11, 2019 06:00 ET | Source: Cenovus Energy Inc Cenovus’s Christina Lake project Cenovus’s Christina Lake project in northern Alberta uses steam-assisted gravity drainage (SAGD) to produce oil. Cenovus Energy Inc. Cenovus’s Foster Creek project in northern Alberta Steam generators at Cenovus’s Foster Creek project in northern Alberta. … Read more
By Marc Breault, President, Paradox Access Solutions For most of us, roads are long stretches of pavement that serpentine through the countryside and keep our cities organized in neat grids. But – as with anything – there’s a lot more going on beneath the surface. Across the earth, the composition and compactness of the ground … Read more
Since 1977, Hy-Lok Canada has become a top manufacturer and supplier of valve and fitting solutions for industry leaders worldwide. With a dedication to creating the highest quality products, continuous innovation, and customer service that’s second to none, Hy-Lok is proud to be a trusted name throughout Canada, as well as around the globe. Hy-Lok … Read more
SASKATOON — Alberta’s premier says it doesn’t matter if Quebec opposes the idea of an oil pipeline as part of the Energy East project — the federal government should step in and make it happen.
Jason Kenney said he and Quebec Premier Francois Legault …
July 10, 2019 Reuters The discount on Canadian heavy crude narrowed slightly on Wednesday:* Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, last traded at $11.50 per barrel below West Texas Intermediate (WTI) oil, according to Net Energy Exchange. On Tuesday, WCS for August delivery settled at $11.70 a barrel below … Read more
July 10, 2019 Reuters Enbridge Inc has lowered oil-shipping requirements on its Mainline pipeline by nearly two-thirds, the company confirmed on Wednesday, a move likely to satisfy smaller producers that feared they would be elbowed out by the company’s initial requirements.Enbridge now requires minimum volume commitments of 2,200 barrels per day (bpd), down from the 6,000 … Read more
VANCOUVER — A report analyzing gasoline prices in British Columbia says rising land costs and credit card processing fees may account for nearly the entire differential in retail margins observed between Vancouver and comparable areas up to the end of…
July 10, 2019 | Source: Parkland Fuel Corporation CALGARY, Alberta, July 10, 2019 (GLOBE NEWSWIRE) — Parkland Fuel Corporation (“Parkland”) (TSX:PKI), announced today the closing of its previously announced private offering (the “offering”) of US$500 million aggregate principal amount of senior unsecured notes due 2027 (the “notes”). The notes bear interest at a rate of 5.875% … Read more
CALGARY — Mid-sized Alberta oil and gas producers say their share prices have fallen so low that investors are starting to worry their rising dividend yields are becoming unsustainable.
The irony is that his Calgary-based company has no intention of r…
By Theophilos Argitis Jul 10, 2019, 8:00 AM The Bank of Canada left interest rates unchanged for a sixth straight decision and showed little willingness to consider easing policy, as stronger domestic growth offsets mounting global trade tensions. At a decision Wednesday, policy makers reiterated the current policy rate — at 1.75% — remains “appropriate.” … Read more
By Lorcan Roche Kelly Jul 10, 2019, 4:30 AM (Bloomberg) Powell set to give Congressional testimony, U.S.- China trade talks restart and outlook for euro-area growth cut. Here are some of the things people in markets are talking about today. Powell in the House Federal Reserve Chair Jerome Powell starts his semi-annual monetary policy testimony to Congress at 10 a.m. … Read more
Oil prices rose more than 2% on Wednesday after industry data showed U.S. inventories fell more than expected and as major U.S. producers evacuated rigs in the Gulf of Mexico before a storm. U.S. West Texas Intermediate (WTI) crude futures climbed $1.28 to $59.11 by 1136 GMT, after hitting a session high of $59.31. Brent … Read more
July 09, 2019 | Source: Pieridae Energy Limited CALGARY, Alberta, July 09, 2019 (GLOBE NEWSWIRE) — Pieridae Energy Limited (Pieridae or the Company) (TSXV: PEA) today had the privilege to close the Toronto Stock Exchange. The TSX has a rich history, created in the fall of 1861 by 24 men who had gathered at Toronto’s Masonic Hall … Read more
July 10, 2019 | Source: Gran Tierra Energy Inc. CALGARY, Alberta, July 10, 2019 (GLOBE NEWSWIRE) — Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE) (LSE:GTE) today announced an operations update. Production amounts are unaudited and on an average working interest before royalties (“WI”) basis unless otherwise indicated. Key Highlights Southern Putumayo Blockades Lifted – Production Restored: Gran Tierra … Read more
CALGARY — The Alberta government is seeking feedback on its plan to cut greenhouse gas emissions from big industrial players.
The province’s environment, energy and agriculture ministers are meeting with 150 stakeholders over the next three days in Ca…
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. Every few months, we like to take a look expiring land. According … Read more
SASKATOON — Canada’s 13 premiers are expected to discuss trade and climate policy among other pressing issues when they sit down for their annual conference in Saskatoon.
The closed-door meeting is taking place today and tomorrow at a downtown hotel.
…
VANCOUVER — Six First Nations that have filed another legal challenge against the Trans Mountain pipeline expansion say Canada’s ownership of the corporation behind the project created a bias that prevented full consultations as ordered by the Federal…
JUNEAU, Alaska — An Australia mining company is seeking permission to start exploratory drilling for the rare element vanadium in southeast Alaska.
Northern Cobalt Ltd. has applied to the U.S. Forest Service for the proposed project on Snettisham Inle…
CALGARY — A pipeline company that was fined $1.3 million in 2014 after pleading guilty in two separate Alberta oil spills is announcing plans to expand its Canadian system.
Plains Midstream Canada, a subsidiary of Houston’s Plains All American Pipelin…
July 9, 2019 AM Reuters Russian oil production fell close to a three-year low in early July, as output was undermined by a row between Russian oil pipeline monopoly Transneft and the country’s biggest producer Rosneft.Transneft curbed oil intake from Yuganskneftegaz, Rosneft’s main upstream unit, the oil producer said, hurting production that has already been … Read more
July 9, 2019 CNW CALGARY, July 9, 2019 /CNW/ – Gear Energy Ltd. (“Gear“) (TSX: GXE) today announces changes to the Board of Directors of Gear effective immediately. Gear is pleased to announce the addition of Scott Robinson, P. Eng. to the Board of Directors of Gear. Mr. Robinson has a Master’s degree in Chemical Engineering from the Colorado School … Read more
CALGARY — Canada’s largest oil producers are calling on the Alberta government to reward companies that commit to adding crude-by-rail capacity by easing their oil curtailment levels.
The proposal would allow crude oil export capacity to increase at t…
By Lorcan Roche Kelly Jul 9, 2019 (Bloomberg) Investors start to distance themselves from Deutsche Bank, a plethora of central bank speakers, and U.S.-U.K. diplomatic spat escalates. Here are some of the things people in markets are talking about today. Negative assessment Skepticism about Deutsche Bank’s mammoth turnaround plan is mounting, if the lender’s market price is … Read more
By Sharon Cho and Grant Smith Jul 9, 2019 (Bloomberg) Oil steadied near $58 a barrel in New York as investors awaited guidance from the Federal Reserve on interest rates and as tensions in the Persian Gulf maintained the risk of supply disruption.West Texas Intermediate futures added 0.2%, recouping earlier losses. Fed Chairman Jerome Powell … Read more
The Outlook is released every quarter and offers comprehensive construction forecasts for a broad range of market segments and geographies in the U.S. and Canada as well as information on key market drivers. Key highlights from 2019 Q2 report include: Total engineering and construction spending for the U.S. is forecast to end up 1 percent … Read more
Installing a sign may look easy peasy lemon squeezy, but we want you to know the proper way to install your sign hardware so your crisp new sign isn’t wrecked in an instant. 3 IMPORTANT TAKEAWAYS: make sure to have galvanized hardware have a locking mechanism have an appropriate spacer for the appropriate post What … Read more
Despite current challenges that face the Canadian energy industry, there are continued plans for future development reinforcing the assumption that conditions will eventually improve. With a deep-rooted sense of determination, Canadian industry continues to work towards developing our resources and building out market access in a socially responsible way. SLOW AND STEADY To a certain … Read more
Globally competitive product tested and launched at EIA Caption (L to R) Laura Kilcrease, CEO of Alberta Innovates, Koleya Karringten, CEO of Absolute Combustion International, Steve Maybee, VP of Operations and Infrastructure, Edmonton International Airport and Rollie Dykstra, VP of Investments, Alberta Innovates, pose in front of the new Absolute Combustion International-SM1000 portable aircraft heater, … Read more
What if the Trans Mountain Pipeline became the same kind of physical, unifying force in this country that the transcontinental railway proved to be more than 100 years ago? The Trans Mountain Pipeline has long been a source of bitter and unresolved division in Canada. The future of its proposed expansion to transport more crude … Read more
SASKATOON — Canada’s 13 provincial and territorial leaders are in Saskatchewan this week, but for the first time in years, the annual gathering won’t have women at the table.
“Symbolically, it’s very significant that there is no woman premier,” said S…
July 8, 2019 CNW Increased Liquids Production and Market Diversification Gains Deliver Solid Adjusted Funds Flow (TSX: AAV) CALGARY, July 8, 2019 /CNW/ – Advantage Oil & Gas Ltd. (“Advantage” or the “Corporation”) is pleased to provide an operational update which includes solid second quarter 2019 results driven by higher than planned liquids production and strong market diversification gains. … Read more
July 8, 2019 CNW CALGARY, July 8, 2019 /CNW/ – Plains Midstream Canada (PMC) today announces a proposed expansion of its Rangeland crude oil pipeline system for additional delivery capacity both north to Edmonton, Alberta and south to the border at Carway, Alberta. This expansion is subject to receiving sufficient commitments from shippers and receipt of necessary permits and regulatory approvals, … Read more
VANCOUVER — The federal government is facing a new legal challenge after it approved the Trans Mountain pipeline expansion for a second time.
Ecojustice has filed a motion to the Federal Court of Appeal on behalf of Raincoast Conservation Foundation a…
July 8, 2019 Reuters Canada’s heavy and synthetic crude differentials were little changed on Monday: * Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, settled at $12.05 per barrel below West Texas Intermediate (WTI) oil, according to Net Energy Exchange. On Friday, WCS for August delivery settled at $12.10 a barrel … Read more
CALGARY — Encana Corp. says its wholly owned subsidiary, Newfield Exploration Mid-Continent Inc., has signed a deal to sell its natural gas assets in Oklahoma’s Arkoma Basin for $165 million.
The buyer was not disclosed.
The assets produce the equival…
OTTAWA — Conservative Leader Andrew Scheer is promising to scrap new standards that will force cleaner-burning fuels, in addition to eliminating the federal price on carbon if his party wins the fall federal election.
In a letter to Prime Minister Jus…
MADISON, Wis. — An association representing oil refineries launched a television ad in four swing states Monday criticizing President Donald Trump’s moves to expand the use of ethanol in gasoline.
The American Fuel and Petrochemical Manufacturers’ 30-…
July 8, 2019 CNW CALGARY, July 8, 2019 /CNW/ – Encana Corporation (NYSE,TSX: ECA) today is commencing its previously announced substantial issuer bid (“the Offer”) to purchase for cancellation up to US$213 million of its common shares (“Shares”). The Offer will expire at 5:00 p.m. (Eastern time) on August 14, 2019, unless extended or withdrawn. The … Read more
July 8, 2019 Globe Newswire CALGARY, Alberta, July 08, 2019 (GLOBE NEWSWIRE) — InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) is pleased to provide an operations update and announce that the annual review of its operating and syndicated credit facilities by its lenders has been completed. Production for the second quarter, … Read more
July 8, 2019 CNW CALGARY, July 8, 2019 /CNW/ – Encana Corporation (NYSE, TSX: ECA) today announced that its wholly owned subsidiary, Newfield Exploration Mid-Continent Inc., signed an agreement to sell its natural gas assets in Oklahoma’s Arkoma Basin to an undisclosed buyer. Total cash consideration to Encana under the transaction is $165 million. The agreement is subject to ordinary closing conditions, regulatory approvals and other … Read more
By Tsuyoshi Inajima and Grant Smith Jul 7, 2019 (Bloomberg) Oil held above $57 as rising tension in the Middle East kept investors wary of potential supply disruptions.Futures in New York were little changed after rallying 2.2% over the previous three sessions. European powers urged Iran to reverse its decision to breach the levels of uranium enrichment … Read more
July 5, 2019 Franco Terrazzano Ottawa gave Alberta’s struggling energy industry a body blow by passing legislation to ban tankers on the West Coast and make the pipeline approval process virtually impossible. It’s tempting to seek retribution. So tempting. But there’s a better way for Premier Jason Kenney to stand up for Alberta and strengthen Canada: … Read more
By Lionel Laurent Jul 8, 2019 (Bloomberg Opinion) Most people will be happy to see the back of the combustion engine. Cleaner air and less dependence on oil are good reasons to look forward to the mass adoption of electric cars.But for the 3 million or so Europeans working in the auto industry, the transition to … Read more
By Lorcan Roche Kelly Jul 8, 2019 Deutsche Bank’s radical overhaul, Turkey’s central bank loses its head, and the Fed’s no-win situation. Here are some of the things people in markets are talking about today. One in five Deutsche Bank AG’s radical overhaul announced over the weekend includes cutting 20% of the lender’s global workforce, exiting its equities … Read more
OTTAWA — Canada’s spy service routinely welcomed reports from the energy industry about perceived threats, and kept such information in its files in case it might prove useful later, newly disclosed documents reveal.
The Canadian Security Intelligence…
CALGARY — The premiers of Alberta, Ontario, Saskatchewan, New Brunswick and the Northwest Territories are mixing business with pleasure at the Calgary Stampede.
According to a release from the Alberta government Jason Kenney will officially welcome th…
The Oklahoma Energy Resource Board has recently produced a powerful video to defend the state’s primary industry, it’s energy industry. The video was published in response to an announced Green New Deal, which would decimate the US oil and gas industry. The video is relatable many Albertans, as it shows strength from a thriving Oklahoma oil industry … Read more
By Dave Humphreys I would like to start off by saying, I am not a politician nor am I a writer or a journalist. I am a 53 year old Albertan who has worked for over 33 years in our Alberta oil patch and I am damn proud of it! I have reached a critical … Read more
July 5, 2019 Reuters Oil futures rose on Friday as tensions over Iran and an extension to output cuts by OPEC and its allies boosted prices, but mixed economic data limited the rally. Brent crude futures settled at $64.23 a barrel, up 93 cents, or 1.47%. U.S. West Texas Intermediate (WTI) settled at $57.51 a barrel, … Read more
Western Canada’s Largest Energy Industry “Meet & Greet” Stampede Breakfast The 21st Annual BIG GUNS STAMPEDE BREAKFAST Each year, all areas of the Energy Industry come to this grand event to Meet, Great & Network This year will be no different, only better! BE PART OF THE ACTION! WHO WILL BE THERE: Oil & gas … Read more
REGINA — The minister responsible for SaskPower says new federal regulations mean the utility has to pump the brakes on plans for a new natural gas plant.
Ottawa last week released its finalized standards for a carbon tax on heavy industrial emitters….
Government of Canada supports training and resources for workplace harassment and violence July 5, 2019 Toronto, Ontario Employment and Social Development Canada All Canadians deserve a workplace that is free from harassment and violence. That is why the Government of Canada is making significant investments to … Read more
Canada’s drilling rig count down 4 actively drilling rigs according to data collected by Baker Hughes for the week ending July 5, 2019 (reported only up to July 3, 2019 because of the July 4th holiday in the U.S.) From one week ago, Alberta rig counts decreased 4 to 65 and the Saskatchewan rig count … Read more
July 5, 2019 Reuters OPEC oil output sank to a new five-year low in June as a rise in Saudi supply did not offset losses in Iran and Venezuela due to U.S. sanctions and other outages elsewhere in the group, a Reuters survey found. The 14-member Organization of the Petroleum Exporting Countries pumped 29.60 million … Read more
July 3, 2019 Business Wire HOUSTON & LONDON–(BUSINESS WIRE)–Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for June 2019 was 1,138, up 12 from the 1,126 counted in May 2019, and up 179 from the 959 counted in June 2018. The international offshore rig count for June 2019 was … Read more
By Lorcan Roche Kelly (Bloomberg) It’s jobs day, Deutsche Bank’s massive cuts, and China sticks to its guns on trade. Here are some of the things people in markets are talking about today. Payrolls Employers in the U.S. are expected to have added 160,000 positions in June, according to a Bloomberg survey of economists, with the unemployment rate projected … Read more
July 4, 2019 Accesswire CALGARY, AB / ACCESSWIRE / July 4, 2019 / Point Loma Resources Ltd. (TSX VENTURE: PLX) (the “Corporation” or “Point Loma“) is pleased to announce an update on production and upcoming development drilling of the Corporation’s Wizard Lake Rex oil discovery and the issuance of Settlement Units (as defined below). Highlights: The Wizard … Read more
July 4, 2019 CNW CALGARY, July 4, 2019 /CNW/ – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX:IPL) announced today that it successfully placed into service a diluent and bitumen blend pipeline connection to Canadian Natural’s Kirby North oil sands project. The connection is underpinned by a long-term take-or-pay agreement that will provide Inter Pipeline with stable cash flow … Read more
Michael D. Watkins No one has a bigger impact on new employees’ success than the managers who hired them. Why? Because more than anyone else the hiring manager understands what his or her people need to accomplish and what it will take — skills, resources, connections — for them to become fully effective. Managers also … Read more
July 5, 2019 U.S. energy firms this week reduced the number of oil rigs operating for the first time in three weeks as drillers follow through on plans to cut spending this year.Drillers cut five oil rigs in the week to July 3, bringing the total count down to 788, General Electric Co’s Baker Hughes … Read more
CALGARY, ALBERTA (July 4, 2019) – Western Canadian energy markets will remain uncertain until producers have more details about whether Alberta will extend crude production curtailments beyond the end of the year and if it will proceed with rail car contracts to ease transportation bottlenecks, according to the latest forecast from Deloitte’s Resource Evaluation and … Read more
CALGARY — Canada’s natural resources minister says the government is willing to consider bids from Indigenous groups for a stake in the Trans Mountain pipeline.
But Amarjeet Sohi also says Ottawa wouldn’t jump at the first offer on the table.
“We have…
CALGARY — The Alberta government will hold a public inquiry into environmental groups that it says have been bankrolled by foreign benefactors hell-bent on keeping Canada’s oil and gas from reaching new markets while letting oil production grow unabat…
Western Canada’s Largest Energy Industry “Meet & Greet” Stampede Breakfast The 21st Annual BIG GUNS STAMPEDE BREAKFAST Each year, all areas of the Energy Industry come to this grand event to Meet, Great & Network This year will be no different, only better! BE PART OF THE ACTION! WHO WILL BE THERE: Oil & gas … Read more
MADRID — Authorities in Gibraltar said they intercepted an Iranian supertanker Thursday that was believed to be breaching European Union sanctions by carrying a shipment of Tehran’s crude oil to war-ravaged Syria.
A senior Spanish official said the op…
China trade talks resume as Donald Trump says Beijing and Europe are playing a “currency manipulation game.” Asia equity futures are higher after the Dow hits a record. And Boeing offers $100 million in “outreach” to Max crash victims’ families. Here are some of the things people in markets are talking about today. Currency Game U.S. and Chinese officials will … Read more
July 03, 2019 | Source: Precision Drilling Corporation CALGARY, Alberta, July 03, 2019 (GLOBE NEWSWIRE) — Doug Evasiuk, Senior Vice President, Sales & Marketing and Officer of the company, retired at the end of June, capping a successful 26-year career with Precision Drilling. Kevin Neveu, President and CEO commented, “Doug has been an integral part of … Read more
Canada’s heavy crude differential to U.S. futures narrowed on Wednesday: * Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, last traded at $12.95 per barrel below West Texas Intermediate (WTI) oil, according to Net Energy Exchange. On Tuesday, WCS for August delivery settled at $13.40 a barrel below WTI crude … Read more
CALGARY — An Indigenous-led group says it will soon be ready to make a bid for majority ownership of the controversial Trans Mountain pipeline currently owned by the federal government.
The group, called Project Reconciliation, says it will be prepare…
By Mark Breault, President, Paradox Access Solutions “Any sufficiently advanced technology is indistinguishable from magic.” — Arthur C. Clarke Roads are an indispensable part of modern infrastructure. They enable the transport of people and goods around the world and have been around for thousands of years. In fact, the earliest evidence of constructed roads dates … Read more
By Liam Denning OPEC+ is having a debate about time. Esoteric as it sounds, the positions taken would be the difference between stable oil prices and a monumental price spike. Khalid Al-Falih, Saudi Arabia’s energy minister, raised the topic this week of shifting the oil-producer club’s target. Since late 2016, OPEC+ has aimed at reducing … Read more
VANCOUVER — An impasse may be developing just days before hearings are set to begin at the British Columbia inquiry examining possible reasons for soaring gas prices in the province.
The B.C. Utilities Commission has been ordered to review the last fo…
A United Nations body has given Canada a new deadline to repair the country’s largest national park and the government is promising greater efforts to stop its deterioration.
At a meeting this week in Baku, Azerbaijan, UNESCO praised Canada for measur…
By Alex Longley Jul 2, 2019 Oil gained after suffering its biggest drop on the day of an OPEC meeting in more than four years.Futures rose 0.8% in New York after an industry report showed U.S. oil inventories fell by almost 5 million barrels last week. Prices were still far from recouping Tuesday’s 4.8% decline, … Read more
By Theophilos Argitis Canada’s trade balance unexpectedly swung into surplus for the first time in 10 months on a broad-based jump in exports, adding to evidence the economy has returned to a more solid footing. The country ran a rare trade surplus on C$762 million ($582 million) in May. It’s only the fourth surplus for … Read more
By Lorcan Roche Kelly The never-ending bond rally doesn’t end, new ECB and Fed picks, and PMI data points to downturn. Here are some of the things people in markets are talking about today. New lows The global sovereign bond rally continues apace this morning. The yield on 10-year Treasuries dropped to the lowest level in more than … Read more
CALGARY — TC Energy Corp. has signed a deal to sell U.S. midstream assets held by its subsidiary, Columbia Midstream Group, to UGI Energy Services LLC for $1.7 billion.
Columbia Midstream Group owns four natural gas gathering systems and an interest i…
July 02, 2019 Source: TC Energy Corporation CALGARY, Alberta, July 02, 2019 (GLOBE NEWSWIRE) — News Release — TC Energy Corporation (TSX:TRP) (NYSE:TRP) (TC Energy) announced today that it has entered into an agreement to sell its U.S. midstream assets held by its subsidiary, Columbia Midstream Group, to UGI Energy Services, LLC, a subsidiary of … Read more
July 2, 2019 Globe Newswire CALGARY, Alberta, July 02, 2019 (GLOBE NEWSWIRE) — Gibson Energy Inc. (“Gibson” or the “Company”), (TSX: GEI), announced today it has closed the sale of its Canadian Truck Transportation businesses to Trimac Transportation (“Trimac”) for gross proceeds of approximately $70 million prior to customary closing adjustments, with the potential for … Read more
July 2, 2019 Michael Binnion The environmental activists pushed out a national shock and awe campaign this week to try overwhelm people with a silly assertion that natural gas isn’t as clean as coal. A well publicized report by “The Global Energy Monitor” had Canadian Press, CBC and the Globe and Mail trying to tell Canadians … Read more
July 2, 2019 An indigenous-led group plans to offer to buy a majority stake in the Trans Mountain oil pipeline from the Canadian government this week or next, a deal that could help Prime Minister Justin Trudeau mitigate election-year criticism from environmentalists. The group, called Project Reconciliation, aims to submit the C$6.9 billion ($5.26 billion) … 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. In its first four years, the Inactive Well Compliance Program (IWCP) under … Read more
July 2, 2019 CNW CALGARY, July 2, 2019 /CNW/ – Canada’s largest energy-focused private equity manager, ARC Financial Corp. (“ARC”), announced that it has closed its ninth private equity fund, ARC Energy Fund 9 with $780 millionof capital from institutional investors across Canada, the United States and Europe. Consistent with ARC’s prior funds, ARC Energy Fund 9’s investment strategy will focus on private Canadian entrepreneurial … Read more
July 2, 2019 CALGARY, Alberta, July 02, 2019 (GLOBE NEWSWIRE) — Pieridae Energy Limited (Pieridae or the Company) (TSXV: PEA) is pleased to announce that it has closed its previously announced (i) non-brokered private placement of common shares of the Company at a price of $0.86 per share for gross proceeds of $2.2 million (the … Read more
By Lorcan Roche Kelly U.S. looks to hit Europe with tariffs, mega-IPO is back on, and the bond market is still in rally mode. Here are some of the things people in markets are talking about today. This again The never-ending dispute between the U.S. and Europe over support to subsidy-reliant aircraft manufacturers Boeing Co. and Airbus … Read more
By Jose Enrique Arrioja Jun 29, 2019 Mexico’s Finance Minster, Carlos Manuel Urzua, expressed optimism about a prompt solution of the dispute over the construction of a pipeline by Infraestructura Energetica Nova SAB, a unit of a U.S. company, and Canada’s TC Energy Corp. Urzua met on the sidelines of G-20 meeting in Osaka, Japan, … Read more
By Heesu Lee and Alex Longley Jul 1, 2019 Oil steadied as investors weighed OPEC’s extending output cuts into 2020 against troubling economic data from around the world.Futures fell 0.2% in New York after closing 1.1% higher on Monday. OPEC ministers agreed to maintain production curbs for another nine months, and their allies are expected … Read more
By David Wethe (Bloomberg) —For the oilfield services industry, it’s no longer about merely navigating a downturn. It’s now about survival.Five years after crude began its plunge to less than $30 a barrel from more than $100, the companies that drill and frack wells are living in a new world. The producers they work for have become … Read more
By Annmarie Hordern, Nayla Razzouk and Golnar Motevalli Jul 2, 2019 Oil ministers from OPEC’s partner nations have ratified the group’s decision to keep cutting production.At a meeting in Vienna, members of the Organization of Petroleum Exporting Countries and all its allies in the OPEC+ coalition have now settled on maintaining quotas for another nine … Read more
By Nayla Razzouk, Fred Pals and Dina Khrennikova Jul 1, 2019 (Bloomberg) Saudi Arabia, OPEC’s dominant producer, will keep doing the heavy lifting as the cartel and its allies were all but forced to extend their effort to counter the U.S. shale boom into a fourth year.In a meeting on Tuesday, the Organization of Petroleum … Read more
Join Stress Engineering at the Canadian Crude by Rail Conference in Calgary September 24th and 25th, 2019, where they will be presenting on the service life of rail car structural components, creation of a the “digital twin” and the real time monitoring of in service crude rail cars. Learn more about this event and Register Now: … Read more
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New powerful tools to help find, book and manage crew accommodations; hundreds of hotels and remote lodges now available in Canada and the United States CALGARY, Alberta, — LodgeLink today announced the launch of an improved online LodgeLink™ platform to help companies find, book, and manage crew accommodations. Introducing the improved LodgeLink platform: transforming the … Read more
Opinion: Pipelines are the safest, most efficient way to transport liquids overland across long distances. Without them, our economy is at real risk. LORI ACKERMAN Whether you live in the West, in Ontario, in Quebec, or in the Atlantic provinces, energy touches virtually every aspect of your life. It supports your work, your leisure, your … Read more
What a great day for the Canadian oil and gas industry and Canada…or is it? On June 18, Prime Minister Justin Trudeau and his Cabinet approved the Trans Mountain Pipeline expansion project. You know, the outrageously -delayed pipeline project designed to carry nearly a million barrels of oil from Alberta’s oil patch to the B.C. … Read more
CALGARY, Alberta, July 2, 2019 — Catapult Environmental is pleased to announce that it has opened their Berland Complex, its third water management facility, southwest of Fox Creek, Alberta. Working with key partners, the Berland Complex is connected to Montney and Duvernay operators through a network of pipelines that will enable Catapult to process, recycle and … Read more
A commentary by Wendy Ferguson I recently ventured out to a new and trendy Calgary restaurant where the dining experience deliberately overshadows the food. Guests are hosted to a ‘blind dining’ concept, where they are escorted to their tables through the pitch-dark dining room where patrons drink, eat and converse in complete darkness. Definitely an … Read more
Canada’s heavy crude differential to U.S. futures widened on Tuesday as the monthly Canadian crude market trade cycle began: * Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, last traded at $13.60 per barrel below West Texas Intermediate (WTI) oil, according to Net Energy Exchange. On Friday, WCS for August … Read more
Canada’s drilling rig count up 5 actively drilling rigs according to data collected by Baker Hughes for the week ending June 28, 2019. From one week ago, Alberta rig counts increased 6 to 69 and the Saskatchewan rig count decreased 3 to 37. Oil drilling increased 4 to 84 and gas increased 1 to 40. … Read more
U.S. spot natural gas prices in June at the Henry Hub benchmark in Louisiana dropped to their lowest for the month since 1999 as record production so far this year allowed utilities to inject huge amounts of gas into storage. Next-day prices averaged $2.40 per million British thermal units (mmBtu) in June. That compares with … Read more
CALGARY — After months of taking to the streets to demand pipeline project approvals and rallying last month to call for lower property tax increases, Calgary’s business community is looking forward to heading outside for pancakes and parties as the C…
July 1, 2019 CNW CALGARY, July 1, 2019 /CNW/ – OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) announces the Company’s banking syndicate has extended the syndicated credit facility redetermination date until August 30, 2019 as we progress through the necessary provisions in regard to the Peace River Oil Partnership (“PROP“) … Read more
By Lorcan Roche Kelly Trade truce, OPEC meeting, and global manufacturing continues to suffer. Here are some of the things people in markets are talking about today. Talks to resume President Donald Trump declared that the U.S. is winning the trade war after he reached a temporary truce with Chinese President Xi Jinping. Trump said he would hold … Read more
Starting today, the federal carbon levy will be applied in Yukon and Nunavut, while the Northwest Territories is set to implement its own price on carbon in September.
The Yukon government says carbon emissions will be taxed at a rate of $20 per tonn…
EDMONTON — Newly released figures show the Alberta government ended the last fiscal year with a deficit more than $2 billion smaller than originally predicted in the budget.
Higher oil prices and more than $800 million in additional tax revenue are be…
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