The Saskatchewan government says it respects Prince Edward Island’s choice not to intervene in its Supreme Court of Canada case over the carbon tax after all.
A spokeswoman from the island province says the decision was filed today.
P.E.I. Premier Den…
(Reuters) – U.S. energy firms this week reduced the number of oil rigs operating, with the rig count declining for the ninth straight month to its lowest since January last year as most producers cut spending on new drilling this year. Drillers cut 12 oil rigs in the week to Aug. 30, bringing the total … Read more
VANCOUVER — An inquiry into British Columbia’s high gas prices says there’s an unexplained difference of 13 cents per litre between Metro Vancouver and Seattle that is costing drivers on the Canadian side of the border nearly $500 million a year.
Whol…
August 29, 2019 Accesswire Prospera Energy Inc. (TSXV:PEI)(FRA:OF6A) (“Prospera”, the “Corporation”) is pleased to announce its financial and operating results for the six months ended June 30, 2019. The condensed interim financial statements, and related management’s discussion and analysis (“MD&A”) will be available at www.sedar.comand www.prosperaenergy.com. OPERATION AND FINANCIAL SUMMARY The Corporation’s oil and gas revenues have … Read more
By Lorcan Roche Kelly Aug 30, 2019 (Bloomberg) ECB hawks raise their voices, hurricane approaches Florida, and MPs confident they can still block a no-deal Brexit. Here are some of the things people in markets are talking about today. Not yet? European Central Bank Executive Board member Sabine Lautenschlaeger became the latest policymaker to add her voice … Read more
By Tsuyoshi Inajima and Alex Longley Aug 30, 2019 (Bloomberg) Oil headed for its biggest weekly increase since mid-July after a sizable drop in American crude inventories and an apparent pause in U.S.-China trade hostilities eased demand fears.Futures in New York fell 0.7% on Friday but are up 4% for the week. China said Thursday … Read more
By Theophilos Argitis Aug 30, 2019 (Bloomberg) Canada’s economy recorded a stronger-than-expected rebound in the second quarter as exports recovered, but surprisingly weak consumption and business investment will cast doubts on the expansion’s sustainability.Output grew at an annualized pace of 3.7% in the three months through June, Statistics Canada said Friday in Ottawa, up from … Read more
By Jeremy Hodges and Kevin Orland Aug 29, 2019 (Bloomberg) The hemp fields sprouting in a part of Canada best known for its giant oil patch show how climate change is disrupting the construction industry. Six years after setting up shop in the shadow of Calgary’s oil sands, Mac Radford, 64, says he can’t satisfy … Read more
August 29, 2019 Encana Corporation (NYSE,TSX: ECA) today announced the preliminary results of its substantial issuer bid (the “Offer”), which expired at 5:00 p.m. (Eastern time) on August 28, 2019. Based on the preliminary count by AST Trust Company (Canada), the depositary for the Offer, a total of 127,043,382 common shares of Encana Corporation (“Shares”) were properly tendered and … Read more
The first challenge people working in oil and gas face in addressing digital changes in the industry. But digital is a confusing jumble of terminology, products, and solutions that are forever changing. Introducing the world’s first and only one-day seminar aimed at equipping you with a solid and comprehensive understanding of digital. Who knows? You … Read more
SURREY, B.C. — The federal and British Columbia governments want to power the production of the natural gas industry in the province using electricity.
As part of an agreement announced Thursday, the two governments and BC Hydro are forming a committe…
August 29, 2019 Alberta Energy Minister Sonya Savage The Trudeau government has finally gotten its way and passed contentious Bill C-69, which was also called the ‘no more pipelines’ bill by pro-energy advocates. Alberta is vowing legal challenges to what it sees as an attack on Alberta and national interests. Energy Minister Sonya Savage and … Read more
By Laura Curtis Aug 29, 2019 (Bloomberg) The status of trade talks remains unclear, Mnuchin is revisiting very long bonds, and political news in Europe is a mixed bag. Here are some of the things people in markets are talking about today. Trade front It looks like the trade-talk clouds that have kept markets on edge this week are … Read more
By Liam Denning Aug 28, 2019 (Bloomberg Opinion) There goes the other pipeline. Back in the day, BP Plc was sometimes dismissed as a “two-pipelines company.” This referred to two of its biggest positions: The Forties field and pipeline system in the North Sea and the Trans Alaska Pipeline bringing oil south from the Prudhoe Bay wells … Read more
By Alex Longley Aug 29, 2019 (Bloomberg) Oil rose, erasing earlier losses, as American crude inventories fell and China indicated that it won’t escalate the protracted trade war with the U.S.Futures in New York climbed as much as 1.2% after rallying almost 4% over the previous two sessions. European and U.S. equities pared earlier declines as a … Read more
By Paula Sambo and Esteban Duarte Aug 29, 2019 (Bloomberg) Canada’s energy bonds, many of which have lagged a corporate debt rally, could get a boost should the opposition Conservative Party defeat Prime Minister Justin Trudeau in October elections, according to analysts at Toronto-Dominion Bank and Manulife Investments. Conservative Leader Andrew Scheer’s pledge to scale … Read more
By Ellen Proper Aug 29, 2019 Dow Inc. is partnering with the Dutch developer of a method for turning plastic trash back into oil as the global chemical powerhouse seeks to expand recycling amid rising alarm over pollution. Fuenix Ecogy Group has created a method for breaking down plastic into a form that can be … Read more
By Robert Tuttle and Kevin Orland Aug 28, 2019 (Bloomberg) Enbridge Inc.’s proposed shift to long-term crude shipping contracts on its Mainline pipeline network is drawing the ire of a growing number of producers, and now Canada’s energy regulator is getting involved, which could delay the process.After ConocoPhillips and Canadian Natural Resources Ltd. became the … Read more
August 29, 2019 07:00 ET | Source: Saturn Oil + Gas Inc CALGARY, Alberta, Aug. 29, 2019 (GLOBE NEWSWIRE) — Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX.V: SOIL) (FSE: SMK) today announced its financial and operating results for the three and six month period ended June 30, 2019. The Company’s unaudited interim financial statements … Read more
August 28, 2019| Source: Dalmac Energy, Inc. EDMONTON, Alberta, Aug. 28, 2019 (GLOBE NEWSWIRE) — John Babic, President and CEO of Dalmac Energy Inc. (“Dalmac”) (TSX Venture “DAL”) is pleased to announce fourth quarter and annual financial results for the fiscal year ended April 30, 2019. FINANCIAL HIGHLIGHTS (000’s Cdn Dollars, except per share data) Q4’19 Q4’18 YTD … Read more
CALGARY — Highwood Oil Company Ltd. says its deal to buy a 55 per cent stake in a heavy oil project in northern Alberta has been terminated after it failed to win approval from the Chinese partner to take over as operator.
Calgary oil company Obsidian…
Help Spread the Word! Birchcliff, Tourmaline, Paramount, Whitecap, and Cenovus, have produced an exciting new video in support of Canadian oil and gas. Continue to fight for the future of our industry in Canada, it is extremely important that as many voices as possible are heard from all over the country in a variety of engaging … Read more
August 27, 2019 Highwood Oil Company Ltd. (TSXV:HOCL) (“Highwood” or the “Corporation“) has served notice to the vendor of the Peace River acquisition to terminate the agreement previously announced on May 16, 2019 (the “Acquisition“). The notice was issued as the operatorship provision of the Acquisition agreement regarding the operation of the asset had not been satisfied. … Read more
August 28, 2019 CNW OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) announces that the purchase and sale agreement providing for the sale of our 55 percent interest in the Peace River Oil Partnership (the “Partnership“) to a third party has been terminated. In order for the … Read more
By Lorcan Roche Kelly Aug 28, 2019 (Bloomberg) Pound plunges on Johnson’s Brexit move, China prepares for the worst, and Italy almost has a new government. Here are some of the things people in markets are talking about today. Brexit gambit The British pound fell as much as 1.1%, the most in a month, after the BBC … Read more
By Grant Smith and Heesu Lee Aug 28, 2019 (Bloomberg) Oil rose for a second day after an industry report showed a bigger-than-expected drop in American crude inventories, allaying concerns that the market is poised to tip back into oversupply.Futures in New York climbed as much as 1.7% after jumping 2.4% on Tuesday. The American … Read more
By Kevin Orland Aug 27, 2019 (Bloomberg) Alberta’s new United Conservative government is painting a gloomy picture of the province’s finances as it prepares to release its first budget in the coming months.The government, in an abbreviated fiscal first-quarter report, highlighted the province’s rising debt levels and placed the blame on its center-left predecessor. Alberta’s … Read more
August 28, 2019 08:30 ET | Source: Toscana Energy Income Corporation CALGARY, Alberta, Aug. 28, 2019 (GLOBE NEWSWIRE) — Toscana Energy Income Corporation (“Toscana” or the “Corporation“) (TSX: TEI) announces that Mr. Joseph S. Durante, the Corporation’s Chief Executive Officer, has stepped down from managing day-to-day operations and will take on a new role as Executive Director effective … Read more
Register Now using Code: ENERGYNOW, to save $25.00 on individual registrations or save $200.00 on the purchase of a corporate table. Register Now For more information and to register visit https://www.petroleumaccountants.com/events/education/ The Situation The way we’ve tried to build energy infrastructure hasn’t worked. Project Reconciliation represents new thinking, and the Trans Mountain pipeline is a historic … Read more
By Geoffrey Cann You don’t need to take in Disney’s latest Star Wars instalments to see robots battling robots. Just pay a visit to the cyber desk of an energy company. If you can find it. Weaponizing Digital Digital technologies are very democratic — anyone can access them. All you need is a reasonably advanced smart phone from any of the big phone suppliers, an internet access (free in coffee … 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. Drilling activity in the WCSB has been significantly lower these past few … Read more
By Harrie Vredenburg Construction of the Trans Mountain pipeline expansion has restarted following the reapproval of the project by Prime Minister Justin Trudeau’s government. Proponents of the pipeline, however, say it’s too early to celebrate because the pipeline continues to face environmental and Indigenous opposition. As he announced the resumption, Trudeau stated that his government would be … Read more
Reference: https://www.mistrasgroup.com/company/knowledge-center/document/next-generation-mfl-technology-a-tale-of-two-systems/ MISTRAS Group (NYSE:MG) is a leading, global, OneSource provider of asset protection solutions for the oil & gas industry. We help our clients in the downstream, midstream, and upstream sectors continue to operate safely and efficiently through comprehensive non-destructive testing (NDT) inspection, maintenance, and engineering services. From predictive maintenance (PdM) programs to asset integrity … Read more
Raise will be presenting their patented and patent pending 3-Stage solutions to unconventional challenges in artificial lift for horizontal wellbores: Stage 1: Efficiently pumping from the build and horizontal sections of any wellbore using the HARPTM technology Stage 2: Returning the reservoir to equilibrium from a preferentially heel depleted condition utilizing REALTM horizontal separation Stage … Read more
CALGARY — Canada’s energy regulator says it will do its best to expedite its consideration of concerns over plans by Enbridge Inc. to convert most of its Mainline pipeline system to long-term contracts after growing opposition from major Canadian oil …
Travers Solar is expected to bring significant investment, employment and clean renewable energy to Alberta August 27, 2019 | Source: Greengate Power Corporation CALGARY, Alberta, Aug. 27, 2019 (GLOBE NEWSWIRE) — Greengate Power Corporation (Greengate) has received approval from the Alberta Utilities Commission (AUC) to construct and operate its Travers Solar project pursuant to the Alberta … Read more
August 27, 2019 PR Newswire Encana Corporation’s (NYSE, TSX: ECA) wholly owned subsidiary, Newfield Exploration Mid-Continent Inc., today closed on its previously announced sale of its natural gas assets in Oklahoma’s Arkoma Basin. Proceeds from the sale will be used to reduce the Company’s debt. Encana’s Arkoma assets included approximately 140,000 net acres of leasehold and production of approximately 77 … Read more
August 27, 2019 Reuters Canadian Natural Resources Ltd , the country’s biggest oil producer, has joined a number of other firms asking Canada’s energy regulator to intervene in Enbridge Inc’s plan to overhaul shipping contracts on its Mainline pipeline network. Canadian Natural’s letter to the National Energy Board (NEB), filed late on Monday, calls on the … Read more
EDMONTON — A first-quarter fiscal update from the Alberta government is reporting consistent revenues compared with the same period last year.
The province says it brought in $13.4 billion from April to June — almost identical to the number in 2018.
R…
WINNIPEG — Party leader Brian Pallister says a win by the Progressive Conservatives in the Manitoba election on Sept. 10 would lead to cleaner fuel to reduce emissions.
Pallister says he would increase the biodiesel mandate — the minimum percentage of…
Mexico’s president says his government has reached a deal with private natural gas pipeline operators, including Canada’s TC Energy Corp., to solve a dispute over fees and payments.
The pipelines allow Mexico to import U.S. natural gas and distribute …
By Lorcan Roche Kelly Aug 27, 2019 (Bloomberg) Trade optimism eases, Italy talks struggle and drugmakers face opioid reckoning. Here are some of the things people in markets are talking about today. Fading trade hopes Markets are still in thrall to the whims of President Donald Trump’s latest trade threats. Yesterday’s rally was driven by optimism following comments made … Read more
By Lorcan Roche Kelly Aug 27, 2019 (Bloomberg) Trade optimism eases, Italy talks struggle and drugmakers face opioid reckoning. Here are some of the things people in markets are talking about today. Fading trade hopes Markets are still in thrall to the whims of President Donald Trump’s latest trade threats. Yesterday’s rally was driven by optimism following comments made … Read more
By Heesu Lee and Grant Smith Aug 27, 2019 (Bloomberg) Oil rose after four days of losses as President Donald Trump gave mixed signals on resolving the trade dispute between the U.S. and China.Futures in New York increased as much as 1.3% after falling 4.8% over the previous four sessions. Trump struck a more conciliatory … Read more
PLEASE WATCH: FOUR MAJOR CANADIAN OIL & GAS INDUSTRY MYTHS THAT ARE NOT TRUE – PLEASE SHARE Produced for the Canadian Energy Executive Association
August 26, 2019 Franco Terrazzano It’s tough for politicians to balance budgets so it might seem far-fetched to believe they can actually save money. But Medicine Hat’s politicians are doing it. By creating their Heritage Savings Reserve to steward resource revenues, the Gas City has sparked a light of fiscal responsibility for Alberta to follow.Medicine Hat … Read more
CALGARY — An open season launched by Enbridge Inc. to try to lock shippers into long-term contracts on its Canadian Mainline oil pipeline system is designed to take advantage of “mostly captive shippers,” Suncor Energy Inc. says.
In a submission to th…
August 26, 2019 PR Newswire CALGARY, Aug. 26, 2019 /CNW/ – Whitecap Resources Inc. (“Whitecap” or the “Company”) (TSX: WCP) announces that it has elected to exercise a more cautious approach for the balance of 2019 by reducing the Company’s 2019 second half capital expenditures program by 17% to $250 million from $300 million to provide greater optionality and improve near term … Read more
New brand reflects strength in data analytics and focus on creating the future of energy through partnership and collaboration August 22, 2019 | Source: Enverus After 20 years, Drillinginfo, the leading energy SaaS and data analytics company, announced today that it has changed its name to Enverus. AUSTIN, TX, Aug. 22, 2019 (GLOBE NEWSWIRE) — Drillinginfo, the leading … Read more
WINNIPEG — The Manitoba NDP is promising to keep the carbon tax at its current level and give a $350 rebate on energy bills if elected Sept. 10.
Leader Wab Kinew says the carbon tax would stay at $20 a tonne and not rise to $50 a tonne when the federa…
By Lorcan Roche Kelly Aug 26, 2019 Trump says China called requesting talks, G-7 meeting continues, and Germany seems headed for a recession. Here are some of the things people in markets are talking about today. De-escalation President Donald Trump said that China called and asked to restart trade talks. His statement came after China’s top trade negotiator, Vice … Read more
By Matthew Martin and Mahmoud Habboush Aug 26, 2019 Oil jumped after U.S. President Donald Trump said that China wanted to restart trade talks, potentially easing tensions between the two countries.Futures in New York rose as much as 1.5%, snapping the longest run of declines in more than five weeks. Trump’s comments reversed a drop … Read more
By Rachel Adams-Heard Aug 26, 2019 (Bloomberg) Diana Cerny has an oil boom to thank for the packed tables at her restaurant in Carlsbad, New Mexico.Gushing shale production has brought boot-clad workers from all over the world to this Permian Basin city less than an hour north of the Texas border. White F-150s filled the … Read more
August 26, 2019 | Source: Husky Energy Inc. CALGARY, Alberta, Aug. 26, 2019 (GLOBE NEWSWIRE) — Husky Energy today announced it has commenced production at its Dee Valley thermal project in Saskatchewan, the second of six 10,000-barrel-per-day thermal bitumen projects to be brought onstream from 2018 to 2022. “Dee Valley is the latest in our deep … Read more
REGINA — The Saskatchewan government says the federal carbon tax is killing jobs, but experts and even the province’s trade minister say it’s not that easy to calculate.
The government reports that jobs are down in the oil and gas sector by about 1,40…
Canada’s drilling rig count is down 3 actively drilling rigs according to data collected by Baker Hughes for the week ending August 23, 2019 From one week ago, Alberta rig counts decreased 1 to 94 and the Saskatchewan rig count decreased 3 to 32. Oil drilling decreased 6 to 95 and gas increased 3 to … Read more
Growing up in an oil and gas family, I know the importance of the energy sector to Alberta and Canada. Working summers on pipeline construction and seismic exploration paid my university tuition. My father was employed in the patch for over 40 years. The industry has helped countless other families from coast to coast. Tax … 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
by Koleya Karringten Taking a chance on implementing a new technology is a difficult step for any industry, and this becomes even more challenging in tough economic conditions. When R&D dollars are limited and companies want to avoid downside risk as much as possible, the idea of disrupting the status quo by bringing in a … Read more
By Stewart Muir on EnergyNow August 23, 2019 Intolerance for the development and use of hydrocarbons is one of the defining factors of the current time. Much of this is channeled through pressures on industry and government to adopt climate-related policies making it ever more difficult to work with the most reliable and abundant energy … Read more
(Reuters) – U.S. energy firms this week cut the most oil rigs in about four months, with the rig count falling to the lowest since January 2018, as producers cut spending on new drilling and completions. Drillers cut 16 oil rigs in the week to Aug. 23, the deepest cut since the week of April … Read more
Register Now using Code: ENERGYNOW to save $25.00 on individual registrations or save $200.00 on the purchase of a corporate table. Register Now For more information and to register visit INFORMATION & REGISTRATION The NGL Business in Canada The Situation – Natural gas liquids affect a broad range of industries across the economy – locally regionally and … Read more
How many times have you stubbed your toe, lost your footing or taken a tumble and either berated yourself for clumsiness or cursed your coworkers for dishevelled work areas, and then simply walked away? If you can count more than once, you’re not alone but you’re not in good company either. Sadly, this is a … Read more
CALGARY — One of the last major hurdles for the Keystone XL crude oil pipeline was removed on Friday by the Nebraska Supreme Court which rejected an attempt to force the developer to reapply for state approval.
The court upheld the decision of regulat…
August 23, 2019 Globe Newswire OMAHA, Neb., Aug. 23, 2019 (GLOBE NEWSWIRE) — TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced the Nebraska Supreme Court has affirmed the November 2017 decision by the Nebraska Public Service Commission that approved the Keystone XL Pipeline route through the state. “The Supreme Court decision … Read more
By Grant Smith Updated on Aug 23, 2019 (Bloomberg) Oil tumbled in New York, erasing this week’s gain, as China’s retaliation against U.S. tariffs spurred fears the trade war will deal an even bigger blow to demand.Futures fell 3.1%, turning what had been a weekly gain into a loss of 2.3%. China will impose additional levies on … Read more
By Laura Curtis Aug 23, 2019 (Bloomberg) Powell’s speech due, Macron has hopes for the G-7, and Hong Kong is causing global worries. Here are some of the things people in markets are talking about today. Fed Features You may have heard by now that Federal Reserve Chairman Jerome Powell is going to speak in a place called … Read more
August 23, 2019 | Source: Enerflex Ltd. CALGARY, Alberta, Aug. 23, 2019 (GLOBE NEWSWIRE) — Enerflex Ltd. (TSX:EFX) (“Enerflex” or the “Company”) announced today the appointment of Sanjay Bishnoi as Senior Vice President and Chief Financial Officer and David H. Izett as Senior Vice President, General Counsel, effective September 9, 2019. Mr. Bishnoi is a proven Chief … Read more
August 23, 2019 | Source: Precision Drilling Corporation CALGARY, Alberta, Aug. 23, 2019 (GLOBE NEWSWIRE) — 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 … Read more
August 21, 2019 The Canadian Press The CEO of Pembina Pipeline Corp. says the Trans Mountain pipeline system would fit neatly into his company’s business model but he wouldn’t want the “noise” associated with its controversial expansion project. On a conference call to discuss his company’s agreement announced Wednesday to purchase Kinder Morgan Canada Ltd., … Read more
By Kevin Orland (Bloomberg) Capital keeps marching out of Canada’s oil industry, with Kinder Morgan Inc.’s sale of its remaining holdings in the country on Wednesday adding to more than $30 billion of foreign-company divestitures in the past three years.Pembina Pipeline Corp., based in Calgary, is snapping up Kinder’s Canadian assets and a cross-border pipeline … Read more
Early Bird Discount Ends August 23 – Click Here To Register & Save $200 2019 Event Brochure Released – Click Here To Download The 2nd Annual Artificial Lift & Production Optimization: Western Canada 2019 provides you with the opportunity to hear exclusive case studies given by leading operators from across Western Canada, exploring the techniques … Read more
August 22, 2019 CNW Adjusted funds flow of $1.3 million, $5.98 per barrel of oil equivalent (“boe”), in the second quarter, up 89% from the comparative quarter of 2018 and $3.3 million of adjusted funds flow for the six months ended June 30, 2019, up 228%, versus the comparative six months of 2018 Reduced net debt by $1.9 million to $16.3 million at June 30, 2019 resulting … Read more
August 22, 2019 CNW CALGARY, Aug. 22, 2019 /CNW/ – Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) (“Bonterra” or the “Company”) today provides an update on the previously reported release of emulsion related to a pipeline that severed on August 15, 2019 after a creek bank collapsed as a result of area flooding approximately 25 km southwest of Drayton Valley, AB. The … Read more
By Laura Curtis Aug 22, 2019 (Bloomberg) Traders are waiting for Powell, manufacturing in Europe gives ammo for bulls and bears, and Boris Johnson is on a Brexit tour of Europe. Here are some of the things people in markets are talking about today. Powell up Investors around the globe are waiting with bated breath for … Read more
By Saket Sundria and Grant Smith Aug 22, 2019 (Bloomberg) Oil recovered after its first drop this week as attention turned from expanding American fuel stockpiles to the prospects for monetary easing as the world’s top central bankers gather in Jackson Hole, Wyoming. Futures added 1.2% to trade above $56 a barrel in New York. … Read more
By Julian Lee Aug 22, 2019 (Bloomberg) The current quarter will be key in shaping the oil supply/demand balances for 2019, according to the latest outlooks from the world’s three major oil-forecasting agencies. If the big inventory draws they expect fail to materialize, OPEC’s goal of pulling down excess stockpiles will be delayed again.The International Energy … Read more
By Dinesh Nair Aug 22, 2019 (Bloomberg) The largest global stock exchanges have restarted efforts to court Saudi Aramco as the battle to host the world’s biggest-ever initial public offering heats up again, people with knowledge of the matter said.Top officials from London Stock Exchange Group Plc, the New York Stock Exchange and Hong Kong Exchanges & … Read more
August 21, 2019 Reuters Small and mid-sized Alberta oil producers are looking to increase drilling as early as this autumn after the Canadian province exempted a dozen of them from government-mandated oil production cuts, boosting the struggling industry.On Tuesday, the new United Conservative Party government extended curtailments through 2020, citing a delay to Enbridge Inc’s Line … Read more
August 21, 2019 CNW Hemisphere Energy Corporation (TSX-V: HME) (“Hemisphere” or the “Company”) announces its financial and operating results for the three months and six months ended June 30, 2019. Q2 2019 HIGHLIGHTS Achieved record revenue of $7.4 million, an increase of 32% over the second quarter of 2018. Realized quarterly funds flow from operations of $2.6 million, a … Read more
August 21, 2019 Globe Newswire CALGARY, Alberta, Aug. 21, 2019 (GLOBE NEWSWIRE) — Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) is pleased to announce a strategic acquisition with Little Rock Resources Ltd. (“Little Rock”) and its second quarter 2019 financial and operating results. Selected financial and operational information is outlined below and should be … Read more
CALGARY, August 20, 2019 – geoLOGIC systems ltd. (geoLOGIC) today announced that it has purchased TOP Analysis ltd. (TOP Analysis), a provider of Canadian thermal oilsands critical information & competitive intelligence through an easy to use SaaS platform available to all disciplines. Founded in 2013, TOP Analysis has fundamentally changed the way in which companies … Read more
WE NEED YOUR HELP! PLEASE CONTRIBUTE HELP EMPOWER & UNITE CANADIANS With Factual Information About the Canadian Energy Industry August 21, 2019 Calgary, Alberta Enerpoint iMedia Corp. EnergyNow.ca (Enerpoint iMedia Corp.) is Pleased to Announce the Launch of an “ENERGY STRONG” Canada GOFUNDME Awareness/Advocacy Campaign. CLICK HERE TO CONTRIBUTE The ENERGY STRONG Canada GOFUNDME … Read more
SHERWOOD PARK, Alta. — Trans Mountain Corp. has advised construction contractors to get ready for the restart of its pipeline expansion project to the west coast.
Trans Mountain says its directive gives contractors 30 days to ready equipment, start hi…
By David Yager August 20, 2019 Alberta’s UCP government has pledged to review and repair the Alberta Energy Regulator (AER). During the spring election the UCP campaigned on replacing the AER’s board of directors. By July this had expanded into a complete review. A comprehensive evaluation of what the AER is and should be doing … Read more
CALGARY — Pembina Pipeline Corp. has signed a deal to buy Kinder Morgan Canada Ltd. and the U.S. portion of the Cochin pipeline system in an agreement it valued at a total of about $4.35 billion.
Upon closing of the deal with Kinder Morgan Inc., Pembi…
by Maureen McCall This week news came out that Elections Canada issued a directive that to run election ads about climate change, environmental groups will have to follow rules. It’s a great development that groups who claim the right to circumvent rules are being reined in. In fact, the directive only requires those groups to … Read more
By Lorcan Roche Kelly Aug 21, 2019 (Bloomberg) Trump says the U.S. is very far from a recession, Fed minutes are due later, and Germany tests the bond market. Here are some of the things people in markets are talking about today. No stimulus, yet President Donald Trump said that he is open to a range of … Read more
By Saket Sundria and Grant Smith Aug 21, 2019 (Bloomberg) Oil held steady after a reported drop in U.S. crude inventories alleviated some of traders’ concern that slowing economic growth will diminish demand.Futures were little changed above $56 a barrel in New York on Wednesday. The American Petroleum Institute reported a 3.45 million-barrel decline last … Read more
By Alex Nussbaum Aug 20, 2019 (Bloomberg) The U.S. will account for for almost two-thirds of the world’s new oil and natural gas output in the decade ahead, making it a critical obstacle to stopping climate pollution, a London-based advocacy group says.Propelled by the shale boom, the U.S. will pump out the equivalent of 88.9 billion … Read more
August 21, 2019 | Source: Bellatrix Exploration Ltd. CALGARY, Alberta, Aug. 21, 2019 (GLOBE NEWSWIRE) — Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX: BXE) announces that Mr. Maxwell Lof will be resigning from his position as the Company’s Executive Vice President & Chief Financial Officer, effective August 31, 2019, to focus on ongoing health issues. … 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. For the past month, our Wednesday Word to the Wise series has … Read more
“Black PowderTM” (black powder) contamination is a widely used term for a highly pervasive particulate contamination found in all hydrocarbon facilities and pipelines, water systems, petrochemical powders, and other fluid and gas systems. It has many other names, such as black dirt, sludge, shoe polish, brown dirt, rouge and black sand, among others. It … Read more
August 20, 2019 Global oil consumption is falling at the fastest rate for almost five years as manufacturing activity and trade flows slip around the world and vehicle production tumbles. Demand in the top 18 consuming countries, each using more than 1 million barrels per day (bpd), fell by almost 0.2% in the three months … Read more
CALGARY — The Alberta government says some oil companies will have to limit their production until the end of 2020 as pipeline delays persist.
Energy Minister Sonya Savage says the current limit is being extended because there are no new pipeline expa…
Hong Kong billionaire Li Ka-shing’s oil sands investment is hurting — and some analysts are calling on him to stop the bleeding.Shares of Calgary-based Husky Energy Inc. have plummeted over 80% since its 2008 peak on a myriad of reasons: a slump in oil prices, a dividend suspension, a production cut due to a close … Read more
August 20, 2019 Reuters The United States has removed nearly 2.7 million barrels of Iranian oil from global markets as a result of Washington’s decision to reimpose sanctions on all purchases of Iran’s crude, U.S. Secretary of State Mike Pompeo said on Tuesday. In an interview with MSNBC, Pompeo said the U.S. government was confident it … Read more
BISMARCK, N.D. — A 2015 pipeline spill of liquid natural gas in western North Dakota is hundreds of thousands of gallons larger than originally reported and may take another decade to clean up, state health officials said Tuesday.
Oklahoma-based Oneok…
By Saket Sundria and Grant Smith Aug 20, 2019 Oil steadied near $56 a barrel as hints of a trade detente between the U.S. and China, along with the prospect of monetary stimulus, buoyed financial markets.Futures gained as much as 0.6% in New York after settling 2.4% higher on Monday. U.S. Commerce Secretary Wilbur Ross … Read more
By Lorcan Roche Kelly Aug 20, 2019 (Bloomberg) Volcker rule changes, Boris Johnson’s bid to renegotiate Brexit, and today’s corporate news is brought to you by the letter A. Here are some of the things people in markets are talking about today. Easing the rules Wall Street regulators will roll out “Volcker 2.0,” an update to … Read more
August 19, 2019 Newswire CALGARY, Aug. 19, 2019 /CNW/ – Connacher Oil and Gas Limited (“Connacher” or the “Company”) announces its financial and operating results for the three and six months ended June 30, 2019 (“Q2 2019”) (all amounts are in Canadian dollars unless otherwise noted). Q2 2019 Highlights Financial Q2 2019 and YTD 2019 revenue, net of royalties, increased … Read more
August 19, 2019 Reuters Production is shut down at the 220,000-barrel-per-day Hibernia oil platform off the coast of eastern Canada, Hibernia’s largest shareholder ExxonMobil Corp said on Monday, after a temporary power cut led to oil and water leaking into the ocean. Exxon estimated around 14 barrels of oil leaked. It is the second spill in … Read more
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Premier Jason Kenney issued the following statement in response to Quebec Premier Francois Legault’s comments on equalization: “Quebec Premier François Legault’s comments reflect a misunderstanding of the history of equalization, and Alberta’s demand for fairness in the federation. “Equalization has not ‘been in the Constitution since Day 1 of Canada.’ The principle of equalization was … Read more
QUEBEC — Alberta Premier Jason Kenney shot back at his Quebec counterpart Monday, saying Francois Legault does not understand the history of equalization.
On Sunday, Legault defended equalization against criticism from Alberta, saying the program was …
August 19, 2019 Reuters Saudi Aramco has formally asked major banks to submit proposals for potential roles in its planned initial public offering, two sources with direct knowledge of the matter said. Aramco’s planned IPO, which could potentially raise $100 billion, is the centrepiece of Saudi Arabia’s economic transformation drive to attract foreign investment and diversify … Read more
August 19, 2019 Reuters Oil sands producer MEG Energy has written to Canada’s energy regulator to oppose pipeline company Enbridge Inc’s plan to introduce long-term fixed volume contracts on its Mainline system. MEG’s open letter to the National Energy Board regulator, filed on Friday, makes it the largest producer so far to call for Enbridge to … Read more
August 19, 2019 CNW Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) (“Bonterra” or the “Company”) reports that the Company has identified, responded to, and is addressing, a release of emulsion related to a pipeline that severed following a creek bank collapse due to recent flooding approximately 25 km southwest of Drayton Valley, AB. On the afternoon of August 15, … Read more
By Julian Lee Aug 18, 2019 (Bloomberg Opinion) Saudi Arabia isn’t as willing to do whatever it takes to support oil prices as it would have us believe. That’s the only conclusion one can draw from what we’ve learnt since a government official said the kingdom wouldn’t tolerate a continued price slide.After crude fell to a seven-month … Read more
BEMIDJI, Minn. — Dozens of people rallied outside the Minnesota office of Enbridge Energy to protest the company’s proposed Line 3 oil pipeline replacement.
Protesters say six members of their group chained themselves to a gate early Monday. Enbridge’…
CALGARY — Shares in Husky Energy Inc. are up by about five per cent after an RBC Dominion Securities analyst suggested its low share price makes this a good time for the company to be taken private.
The stock jumped by as much as 47 cents to $9.24 on …
DRAYTON VALLEY, Alta. — Bonterra Energy Corp. says it has 70 workers cleaning up the site of an oil emulsion leak from a pipeline into a creek that feeds the North Saskatchewan River in west central Alberta.
In an update posted on its website Monday, …
ST. JOHN’S, N.L. — The chairman of Newfoundland and Labrador’s offshore oil industry regulator says back-to-back spills from the Hibernia platform over the last month represent a concerning failure to meet obligations to protect the environment.
An e…
By Geoffrey Cann With the latest ramp in media stories about Facebook exploring the use of blockchain for its platform, I thought it timely to revisit how oil and gas could take advantage of this technology. What exactly is blockchain? Blockchain is a digital solution to one of modern society’s basic problems – that we can’t always trust everyone, or that we shouldn’t. Think about it … Read more
By Saket Sundria and Grant Smith Aug 19, 2019 (Bloomberg) —Oil rose for a second day as a drone attack on a Saudi Arabian oil field revived concerns that the tense Middle East political situation may jeopardize crude exports.Futures in New York advanced 0.6% to trade near $55 a barrel. Yemeni rebels attacked oil and gas facilities … 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 … Read more
Aug 18, 2019 (Bloomberg) Australia’s booming coal industry has made it the world’s third-biggest exporter of potential carbon dioxide emissions locked in fossil fuels, placing it only behind oil giants Russia and Saudi Arabia.Australia makes up 7% of all global fossil fuel exports by carbon dioxide potential, as it accounts for almost one-third of the … Read more
August 19, 2019 | Source: Petroteq Energy Inc. Receives Positive Lab Results on the Recovery of Oil from International Ore Samples Successful Testing Completed proving Oil Extraction and Recovery with QEM SHERMAN OAKS, Calif., Aug. 19, 2019 (GLOBE NEWSWIRE) — Petroteq Energy Inc. (“Petroteq” or the “Company”) (TSXV:PQE; OTC:PQEFF; FSE: PQCF), a fully integrated surface oil sands … Read more
August 19, 2019 | Source: Saturn Oil + Gas Inc CALGARY, Alberta, Aug. 19, 2019 (GLOBE NEWSWIRE) — Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSXV: SOIL) (FSE: SMK) is pleased to confirm the commencement of its second half 2019 drilling program, an option grant and that an updated corporate presentation has been posted … Read more
August 19, 2019 | Source: Precision Drilling Corporation CALGARY, Alberta, Aug. 19, 2019 (GLOBE NEWSWIRE) — 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 … Read more
By Divya Balji Aug 19, 2019 (Bloomberg) Investors will turn their focus to the first two of the Big Six banks to report fiscal third-quarter results after a week that roiled Canada’s equity and bond markets. The nation’s biggest lenders make up about 23% of the S&P/TSX Composite Index and on an average total return … Read more
By Lorcan Roche Kelly Aug 19, 2019 Trump says U.S. is still talking with China, investors ready for a week of central bank speculation, and European politics are still a mess. Here are some of the things people in markets are talking about today. No deal… yet President Donald Trump said the U.S. is “doing very well … Read more
By Jennifer A. Dlouhy Aug 19, 2019 (Bloomberg) After protesters disrupted construction of an oil pipeline in North Dakota by chaining themselves to construction equipment and pitching tents along the route, oil and chemical companies found a way to keep it from happening again. They made it a crime. The companies, including Koch Industries Inc., … Read more
August 16, 2019 Reuters OPEC delivered a downbeat oil market outlook for the rest of 2019 on Friday as economic growth slows and highlighted challenges in 2020 as rivals pump more, building a case to keep up an OPEC-led pact to curb supply. In a monthly report, the Organization of the Petroleum Exporting Countries cut its … Read more
DRAYTON VALLEY, Alta. — The Alberta Energy Regulator says a pipeline has spilled 40,000 litres of crude oil into a creek.
The regulator says on its website that the incident happened Thursday on a Bonterra Energy Corp. line 14 kilometres south of Dray…
By Mikael Holter Aug 18, 2019 (Bloomberg) Freyr AS, a startup planning to build one of Europe’s first battery gigafactories in Norway, has a bigger vision for the region: a “Nordic Battery Belt.”The Norwegian company is still gathering approvals, technology licenses and funding for its initial, 40 billion-krone ($4.5 billion) project in northern Norway. But … Read more
CALGARY — Ongoing pipeline project delays and growth in crude-by-rail capacity from Western Canada are leading some oilsands producers to consider spending billions of dollars to build diluent recovery units.
Oilsands bitumen is a thick, sticky oil wh…
ST. JOHN’S, N.L. — An oil platform temporarily lost power on Saturday, causing about 2,200 litres of oil to spill into the ocean southeast of St. John’s, N.L.
A statement from Hibernia Management and Development Company says the power outage activated…
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August 16, 2019 Reuters Husky Energy Inc said on Friday it would resume production from the last two shut-in drill centers at its White Rose field, which was shutdown last year after an oil spill off the Atlantic Coast.The Canadian oil and gas producer said it will now begin an orderly restart process and expects to … Read more
August 16, 2019 Reuters OPEC delivered a downbeat oil market outlook for the rest of 2019 on Friday as economic growth slows and highlighted challenges in 2020 as rivals pump more, building a case to keep up an OPEC-led pact to curb supply. In a monthly report, the Organization of the Petroleum Exporting Countries cut its … Read more
August 16, 2019 Reuters Global oil and gas major BP has published its master sales and purchase contract templates for its liquefied natural gas (LNG) trading business and says it is the first of its peers to do so. BP , which has a global LNG portfolio made up of volumes it has produced or bought, … Read more
August 16, 2019 CNW Perpetual Energy Inc. (“Perpetual” or the “Company”) is pleased to announce that the Alberta Court of Queen’s Bench (the “Court”) has dismissed and struck all but one of the claims filed by PriceWaterhouseCoopers Inc. LIT (“PWC”), in its capacity as trustee in bankruptcy of Sequoia Resources Corp. (“Sequoia”) against Perpetual and Sue Riddell Rose, the … Read more
August 16, 2019 Reuters A recent unsolicited bid for Inter Pipeline Ltd has highlighted the potential of Canada’s midstream companies to offer insulation from volatile oil prices. Inter Pipeline, Pembina Pipeline Corp and Keyera Corp own key infrastructure such as gathering pipelines, gas-processing plants and storage tanks that are in high demand, and reported record … Read more
By Laura Curtis Aug 16, 2019 (Bloomberg) Fed in focus after choppy week, oil got caught up in some messy politics, and the economic data is actually pretty good. Here are some of the things people in markets are talking about today. Fed watch At the tail end of a wild week in markets, it’s back to Fed … Read more
By BloombergNEF and Bloomberg News Aug 15, 2019 The renewable energy transition promises to reduce carbon emissions, but it’s happening at different speeds around the world. Read on for some key insights from BloombergNEF’s New Energy Outlook 2019, which provides a detailed road map to the future. 1. The Old World Will Move the Fastest … Read more
By Sharon Cho and Grant Smith Aug 16, 2019 (Bloomberg) Oil headed for a weekly increase as hopes that the U.S. and China could resume negotiations to resolve their trade dispute capped a week of volatile trading.Futures added as much as 1.7% on Friday in New York, bringing their gain for the week to 1.4%. … Read more
August 15, 20196:27 AM Stewart Mu It’s already well known that eastern Canada has been using a lot of hard-earned foreign exchange to buy crude oil from faraway places like Saudi Arabia, instead of sourcing it from parts of our own country where it is abundant. Lack of in-country pipelines to facilitate this internal trade is … Read more
Critical Need for New Pipelines Oil production in the Permian Basin has passed 4 million barrels a day, but because of pipeline constraints, it’s selling at a discount. Transport bottlenecks are also to blame for low natural gas prices, resulting in reduced production and flaring of 661 million cubic feet per day – an all-time high. The pressure on … Read more
August 15, 2019 Reuters The Canadian heavy crude discount widened against benchmark West Texas Intermediate (WTI) futures on Thursday, the last day of the monthly trade cycle: * Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, last traded at $12.15 per barrel below WTI, according to Net Energy Exchange. On Wednesday … Read more
August 15, 2019 Globe Newswire Altura Energy Inc. (“Altura” or the “Corporation”) (TSXV: ATU) is pleased to announce its financial and operating results for the three and six months ended June 30, 2019. The unaudited interim condensed consolidated financial statements and related management’s discussion and analysis (“MD&A”) are available at www.sedar.com and www.alturaenergy.ca. Selected financial and operating information … Read more
August 15, 2019 Globe Newswire CALGARY, Alberta, Aug. 15, 2019 (GLOBE NEWSWIRE) — Pipestone Energy Corp. (“Pipestone Energy”) (TSX-V: PIPE) announces the appointment of Dustin Hoffman as Chief Operating Officer (COO) to be effective September 9, 2019. Mr. Hoffman has over 25 years of professional experience, at Encana Corporation and its predecessor companies, where he held … Read more
August 15, 2019 | Source: Cordy Oilfield Services Inc. CALGARY, Alberta, Aug. 15, 2019 (GLOBE NEWSWIRE) — CORDY OILFIELD SERVICES INC. (the “Corporation” or “Cordy”) (CKK: TSX-V) released today its second quarter 2019 results. Three months ended June 30, Six months ended June 30, ($ 000’s) 2019 2018 ($) Change 2019 2018 ($) Change Revenue Environmental … Read more
Marksmen Announces Final Closing of Private Placement August 15, 2019 | Source: Marksmen Energy CALGARY, Alberta, Aug. 15, 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 … Read more
PJVA Luncheon Sept 12, 2019 by Maureen McCall “The call on Canadian heavy sour crude oil—the principal export from the Canadian oil sands—has never been greater as the rapid deterioration of Venezuelan output tightens the supply of heavy sour crude globally.” according to Kevin Birn, VP North American Crude Oil Markets, IHS Markit in IHS … Read more
August 14, 2019 Reuters OPEC and U.S. shale producers should reduce crude shipments into an oversupplied market, Continental Resources Chief Executive Harold Hamm said on Tuesday, as Iran sanctions and the U.S.-China trade dispute has roiled the market.Hamm, who heads one of the largest U.S. shale companies, urged energy producers to curb spending and production, … Read more
By Lorcan Roche Kelly Aug 15, 2019 (Bloomberg) China says U.S. violates Trump-Xi accord, bond market still very nervous, and it’s a huge day for retailers. Here are some of the things people in markets are talking about today. Warning Just as markets seemed to be catching their breath after yesterday’s huge moves, Chinese authorities issued a … Read more
By Will Wade Aug 15, 2019 It must have seemed like a good idea at the time.The annals of green energy are filled with people who devised brilliant solutions to vexing problems, delivering more power for less money, making things cleaner, easier, and better. Many became rich and famous in the process. And then there … Read more
By Sharon Cho and Grant Smith Aug 15, 2019 (Bloomberg) Oil held losses as a surprise gain in U.S. crude stockpiles added to deepening concerns over the outlook for global demand. Futures fell again in New York after a 3.3% drop on Wednesday. China signaled on Thursday it may retaliate against President Donald Trump’s plans … Read more
(Bloomberg Markets) No one disputes that change is coming to the energy sector. A decade ago, integrated oil and gas companies such as Exxon Mobil Corp. and Chevron Corp. seemed like solid investments. They made up the biggest sub-index in the S&P 500, accounting for 7.8% . And yet, by this July, that same group … Read more
By Michael Bellusci Aug 14, 2019 The days when energy stocks and the price of oil moved in lockstep are now few and far between. Oil may go up but stocks still fall, and in Canada it’s the worst divergence on record.The ratio of the iShares S&P/TSX Capped Energy Index ETF to West Texas Intermediate … Read more
OTTAWA — The federal government is providing up to $6 million in funding to help Indigenous communities in British Columbia and Alberta increase their participation in energy infrastructure projects.
Natural Resources Minister Amarjeet Sohi made the a…
August 14, 2019 | Source: Birchcliff Energy Ltd. CALGARY, Alberta, Aug. 14, 2019 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its financial and operational results for the three and six months ended June 30, 2019 and an expanded 2019 capital program. Birchcliff’s unaudited interim condensed financial statements … Read more
August 14, 2019 Globe Newswire CALGARY, Alberta, Aug. 14, 2019 (GLOBE NEWSWIRE) — Zargon Oil & Gas Ltd. (“Zargon” or the “Company”). FINANCIAL AND OPERATING HIGHLIGHTS (THREE MONTHS ENDED June 30, 2019) Funds flow from operating activities of $2.17 million compared to $1.23 million recorded in the prior quarter, and $0.58 million reported in the second … Read more
August 14, 2019 CNW Eagle Energy Inc. (“Eagle“) announces that it has submitted an application (the “Listing Application“) to the TSX Venture Exchange (the “TSX-V“) to list its common shares (the “Common Shares“) on the TSX-V. In conjunction with this application, Eagle has submitted an application to the Toronto Stock Exchange (“TSX“) for voluntary delisting (the … Read more
VANCOUVER — British Columbia’s Oil and Gas Commission isn’t taking action that would protect the environment in the public interest, favouring instead the companies it is intended to police, says a new report.
Author Ben Parfitt accused the Crown corp…
EDMONTON — Carbon-tax-fighting governments in Alberta, Saskatchewan and Manitoba say they have no plans to follow Ontario’s lead and force gas stations to put anti-carbon tax stickers on their pumps.
Ontario’s Progressive Conservative government has s…
Maureen McCall Board of Directors, Petroleum Joint Venture Assoc.- Contract Analyst, Event Producer, Marketer. BA, IABC,WGA Energy Security is a national issue in Canada. Our Energy infrastructure has served us well but is overdue to be upgraded and updated. An Energy corridor could be the most efficient approach for new transportation, power lines, telecommunications … Read more
August 14, 2019 PR Newswire OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) is pleased to announce its financial and operational results for the three and six months ended June 30, 2019. All figures are in Canadian dollars unless otherwise stated. Michael Faust, Interim President and CEO … Read more
HALIFAX — Nova Scotia’s offshore regulator has fined ExxonMobil Canada Ltd. $40,000 after a “near miss” incident last fall that saw a chain dropped on the Noble Regina Allen drilling rig.
The Canada-Nova Scotia Offshore Petroleum Board says it found t…
By Lorcan Roche Kelly Aug 14, 2019 (Bloomberg) Trade talks remain on track, more signs of a global slowdown, and elections grow more likely in Italy and the U.K. Here are some of the things people in markets are talking about today. September meeting The U.S. and China are, much to the relief of markets, making … Read more
By Grant Smith and Sharon Cho Aug 14, 2019, (Bloomberg) Oil declined again after its biggest surge in five weeks amid industry data showing that U.S. crude stockpiles increased and growing alarm about the health of the global economy.Futures lost as much as 3.9% in New York on weak economic data from China and Germany, along … Read more
August 14, 2019 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. For the past month, our Wednesday Word to the Wise … Read more
August 13, 2019 CNW CALGARY, Aug. 13, 2019 /CNW/ – Jupiter Resources Ltd. and its affiliates (collectively, “Jupiter” or the “Company”) today reported financial and operating results for the second quarter of 2019. Jupiter’s second quarter financial results have been posted to the investor portal on the Company website. The Company will be hosting a conference call to discuss … Read more
August 13, 2019 For Immediate Release CALGARY—While both Alberta and Texas were hit hard by the oil-price drop in 2014, the Texas unemployment rate has dropped while the Alberta rate has risen, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank. “Some people in Alberta continue to … Read more
OTTAWA — The RCMP has been sitting for two years on a watchdog report into alleged Mountie surveillance of anti-oil protesters, a civil liberties group charges.
In a letter this month to RCMP Commissioner Brenda Lucki, a lawyer for the British Columbi…
This is one of the top 5 videos everyone in Canada (voting age or younger) should watch. Please share in your networks so as many Canadians can see it as possible.
August 12, 2019| Source: Corridor Resources Inc. HALIFAX, Nova Scotia, Aug. 12, 2019 (GLOBE NEWSWIRE) — Corridor Resources Inc. (“Corridor”) (TSX – CDH) announced today its second quarter financial results. The following table provides a summary of Corridor’s financial and operating results for the three and six months ended June 30, 2019, with comparisons to the three and … Read more
Technology innovators are partnering on ground-breaking projects and Alberta Blockchain Week August 13, 2019, CALGARY, AB – Alberta’s push to diversify its economy just got a major boost with a new female-led partnership in an emerging technology sector. The Alberta Blockchain Consortium (ABC) is pleased to announce a new partnership with the Canadian Blockchain Association … Read more
August 13, 2019 PR Newswire CALGARY, Aug. 13, 2019 /CNW/ – Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation“) (TSX: TWM) is pleased to announce that it has filed its condensed interim consolidated financial statements and Management’s Discussion and Analysis (“MD&A“) for the three and six-month period ended June 30, 2019. SECOND-QUARTER 2019 FINANCIAL PERFORMANCE Recent Highlights Adjusted EBITDA for … Read more
August 13, 2019 Reuters Exxon Mobil is considering an exit from the British North Sea after more than 50 years in the oil and gas basin as it focuses on U.S. shale production and new projects. The world’s largest publicly traded energy company, Exxon has held talks with a number of North Sea operators in recent … Read more
Obsidian Energy Announces Update to its Syndicated Credit Facility and Peace River Oil Partnership Disposition August 13, 2019 CALGARY, Aug. 13, 2019 /PRNewswire/ – OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) announces the extension of the Company’s syndicated credit facility with the underlying borrowing base and amount available … Read more
By Lorcan Roche Kelly Aug 13, 2019 (Bloomberg) Traders dump everything Argentine, Hong Kong protests continue, and more signs of a downturn. Here are some of the things people in markets are talking about today. Pesomism The Argentine peso tumbled as much as 25% to a record low of 60 per dollar yesterday, with the country’s main … Read more
By Sharon Cho and Grant Smith Aug 13, 2019 (Bloomberg) Oil steadied near $55 a barrel in New York as persistent concerns over slowing demand jostled with expectations that U.S. crude stockpiles will continue to tighten.Futures were little changed after rising 7.5% in the past three days. American inventories probably dropped by about 2.3 million … Read more
By Matthew Martin Aug 12, 2019 (Bloomberg) Saudi Aramco showed Monday it’s still the world’s most profitable company — and paid out almost all its net income in dividends — despite the dwindling price of oil. Profit slid 12% to $46.9 billion in the first six months of 2019, the state-owned energy giant said in … Read more
CALGARY — Shares in Inter Pipeline Ltd. fell by as much as 4.3 per cent Monday morning after soaring late last week on news that it had rejected an unsolicited takeover from an unnamed bidder.
On the Toronto Stock Exchange, shares in the Calgary petro…
August 12, 2019 Sherwood Park, Alberta, August 9th, 2019 (TSXV:VTX) – Vertex Resource Group Ltd. (“Vertex” or the “Company”) reports its financial and operational results for the three and six months ending June 30, 2019, with comparisons to the same period in 2018. The following operational and financial highlights should be read in conjunction with the … Read more
August 12, 2019 CALGARY, Aug. 12, 2019 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce its financial and operating results for the quarter ended June 30, 2019. Q2/19 was an excellent quarter for Surge. Production and adjusted funds flow1 came in higher than analyst estimates2; and the Company’s bank … Read more
By Lorcan Roche Kelly Aug 12, 2019 (Bloomberg) Shock election result set to shake Argentina, tensions rise further in Hong Kong, and Italian politics are still a mess. Here are some of the things people in markets are talking about today. Peso set to plunge Argentina’s President Mauricio Macri unexpectedly lost a primary vote by 15 … Read more
August 12, 2019 | Source: Granite Oil Corp. CALGARY, Alberta, Aug. 12, 2019 (GLOBE NEWSWIRE) — GRANITE OIL CORP. (“Granite” or the “Company”) (TSX:GXO)(OTCQX:GXOCF) is pleased to report its operating and unaudited financial results for the three and six months ended June 30, 2019. Second Quarter Highlights and Operations Update During the first six months of … Read more
By Heesu Lee and Grant Smith Aug 12, 2019 (Bloomberg) Oil dropped as U.S. President Donald Trump said planned trade talks with China next month could be called off, stoking concerns the deepening dispute will damage global growth. Futures lost as much as 1.8% in New York, snapping a two-day gain, as a stronger dollar … Read more
August 12, 2019 | Source: TransGlobe Energy Corporation This Announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 (“MAR”). Upon the publication of this Announcement, this inside information is now considered to be in the public domain. CALGARY, Alberta, Aug. 12, 2019 (GLOBE NEWSWIRE) — AIM & TSX: “TGL” & … Read more
CALGARY — Greg Kist admits he was burned out when he resigned as president of Pacific NorthWest LNG at the end of 2014, as the Vancouver-based venture led by Malaysian energy giant Petronas advanced its ill-fated mission to build a liquefied natural g…
Having worked for more than a decade with First Nations and Indigenous groups on consultation over large infrastructure projects, I’ve seen myself as a bridge between resource companies and Indigenous communities. That’s a result of my own Cree Métis heritage. Stretching back to a time before Canada was born, we Métis have often been looked … Read more
By Stephanie Wood Reference: www.nationalobserver.com Project Reconciliation, an Indigenous coalition to bid on ownership of the Trans Mountain pipeline and expansion, recently announced they submitted a preliminary proposal for ownership to the federal government. The federal government has not begun a formal process to accept proposals or bids, but Project Reconciliation wants to set itself apart, … Read more
You’re invited to join Layfield Geosynthetics and Presto Geosystems for a live, 1-hour webinar to explore how the GEOWEB® Soil Stabilization System can significantly improve the life cycle of your road projects. Webinar Description Roadway surfaces built over weak subgrades can degrade due to base deterioration that causes deflections, rutting, and cracking in the surface … Read more
August 9, 2019 Western Canada’s fleet of drilling rigs went up by 3 to 140 according to data collected by Baker Hughes for the week of August 9th. Alberta grew its fleet by 8 to 94, while Saskatchewan decreased by 3 to 33. Oil drilling went from 91 to 94, natural gas rigs remained the … Read more
Jackie Rafter, MBA President/Founder, Higher Landing Inc. |CareerTransformation Educator | Entrepreneur Earlier this year, Higher Landing conducted a survey of over 400 of our professional clients, who had backgrounds in disciplines ranging from engineering and geosciences to accounting and supply chain. The vast majority of these people had been downsized as part of the ongoing … 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
by Stewart Muir Finding a politically acceptable middle-ground between reducing emissions and growing the economy is difficult, particularly for an energy-producing country like Canada. Discord on related issues is certain to be a significant factor in the upcoming federal election. Anti-fossil fuel activists, not satisfied with their uneven success in setting Canadians’ hair on fire, … Read more
August 9, 2019 Reuters U.S. energy firms this week reduced the number of oil rigs operating for a sixth week in a row as producers cut spending on new drilling and completions leading to lower production growth forecasts.Drillers cut six oil rigs in the week to Aug. 9, bringing the total count down to 764, … Read more
By Julian Lee Aug 10, 2019 (Bloomberg Opinion) As I warned last week, oil demand growth is drying up and it’s not over yet. Two of the major oil agencies have just cut their forecasts for incremental demand this year, but they haven’t gone far enough.The revisions to full-year oil demand growth by the International Energy … Read more
August 9, 2019 Exxon Mobil Corp said on Friday it was working with regulatory and response agencies to prepare for the return of Canada’s Hibernia oil platform to production after a spill in mid-July.Return to production date will be determined during continued discussions with authorities, Hibernia’s largest shareholder Exxon said. Hibernia has been producing oil … Read more
August 9, 2019 Globe Newswire CALGARY, Alberta, Aug. 09, 2019 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on its financial and operating results for the second quarter ended June 30, 2019. Michael Binnion, President and Chief Executive Officer of Questerre, commented, “During the quarter, we continued to build support for … Read more
OTTAWA — A former Enbridge executive has been appointed to head a committee that will advise the federal government as it consults with Indigenous communities that want a financial stake in the Trans Mountain pipeline expansion.
Finance Minister Bill …
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By Kiran Dhillon Aug 9, 2019 (Bloomberg) Oil surged the most in nearly a month as investors digested Saudi Arabia’s latest plan to help stabilize prices following a large dip earlier in the week that was fueled by demand concerns.WTI advanced 3.7% in New York on Friday, paring its weekly loss to 2.1%. Escalating tensions … Read more
CALGARY — Inter Pipeline Ltd. confirmed Friday afternoon it received a “proposal” to purchase the company, in a statement issued at the behest of regulators a few hours after executives refused to discuss the matter on a conference call with analysts….
By Joe Easton Aug 8, 2019 (Bloomberg) Good morning. The Italian government is unstable as ever, the U.K. has come out fighting on Brexit, Asian markets ended the week on a calmer note, Goldman Sachs plays the long game on European stocks and Uber Technologies Inc. reported an impressive loss. Here’s what’s moving markets. Salvini’s Demands … Read more
By Ellen R. Wald Aug 9, 2019 (Bloomberg Opinion) Saudi Aramco, the world’s largest oil company, will hold a public investor-relations call on Monday, even though the company is private and has only one shareholder. Many analysts expect that, for the first time, the Saudi Arabian behemoth will speak openly about its finances, including its … Read more
by Grant Smith Aug 9, 2019 (Bloomberg) The outlook for global oil demand is “fragile” amid growing signs of an economic slowdown, which squeezed consumption growth during the first five months of this year to the weakest in a decade, the International Energy Agency said.The IEA, which advises major economies, trimmed forecasts for oil-demand growth … Read more
By Tsuyoshi Inajima and Grant Smith Aug 9, 2019 (Bloomberg) Oil is poised for a second weekly loss as investors weigh the deteriorating U.S.-China trade dispute against the latest steps from Saudi Arabia to stabilize the market.Brent crude rose 1.4% in London, but is down 6% for the week. The deepening spat between Beijing and … Read more
August 08, 2019 22:17 ET | 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, Aug. 08, 2019 (GLOBE NEWSWIRE) — High Arctic Energy Services Inc. (TSX: HWO) – … Read more
CALGARY — Oilsands transport company Inter Pipeline Ltd. is reporting record second-quarter net income of $260 million or 63 cents per share, nearly double the $136 million or 35 cents it declared in the same period of 2018.
The increase comes despite…
August 8, 2019 Reuters The differential on Canadian heavy crude against the North American benchmark widened slightly on Thursday: * Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, was trading at $13 per barrel below West Texas Intermediate (WTI) oil, according to Net Energy Exchange. On Wednesday, it settled at $12.90 … Read more
August 8, 2019 CALGARY, Aug. 8, 2019 /CNW/ – Yangarra Resources Ltd. (“Yangarra” or the “Company“) (TSX:YGR) announces its financial and operating results for the three and six months ended June 30, 2019. Second Quarter Highlights Average production of 13,032 boe/d (47% liquids) during the quarter, an increase of 9% from the first quarter of 2019 and a 72% increase from … Read more
August 08, 2019 | Source: Enerflex Ltd. CALGARY, Alberta, Aug. 08, 2019 (GLOBE NEWSWIRE) — Enerflex Ltd. (TSX:EFX) (“Enerflex” or “the Company” or “we” or “our”), a leading supplier of products and services to the global energy industry, today reported its financial and operating results for the three and six months ended June 30, 2019. Summary … Read more
August 08, 2019 | Source: Cequence Energy Ltd CALGARY, Alberta, Aug. 08, 2019 (GLOBE NEWSWIRE) — Cequence Energy Ltd. (“Cequence” or the “Company”) (TSX: CQE) is pleased to announce its operating and financial results for the three and six months ended June 30, 2019. The Company’s Management’s Discussion and Analysis (“MD&A”) and Condensed Consolidated Interim Financial … Read more
Progress Made on Goldboro LNG Project August 08, 2019 | Source: Pieridae Energy Limited NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN UNITED STATES CALGARY, Alberta, Aug. 08, 2019 (GLOBE NEWSWIRE) — Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA – TSXV) has filed its second quarter (“Q2”) unaudited condensed interim financial statements and related management’s … Read more
August 08, 2019 | Source: Chinook Energy Inc. CALGARY, Alberta, Aug. 08, 2019 (GLOBE NEWSWIRE) — Chinook Energy Inc. (“our”, “we”, or “us”) (TSX: CKE) is pleased to announce our operating and financial results for the three months ended June 30, 2019 (“Q219”). Our unaudited condensed consolidated financial statements and management’s discussion and analysis for the three … Read more
BISMARCK, N.D. — Two environmental groups who say North Dakota regulators should have intervened in the location of an oil refinery near the state’s top tourist attraction, Theodore Roosevelt National Park, are taking their case to the state Supreme C…
August 08, 2019 | Source: Prairie Provident Resources Inc. CALGARY, Alberta, Aug. 08, 2019 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) today announced operating and financial results for the three and six months ended June 30, 2019. PPR’s consolidated financial statements (“Financial Statements”) and related Management’s Discussion and Analysis (“MD&A”) for … Read more
August 8, 2019 Reuters Saudi Arabia plans to keep its crude oil exports below 7 million barrels per day in August and September despite strong demand from customers, to help drain global oil inventories and bring the market back to balance, a Saudi oil official said. State-owned Aramco’s oil nominations – the requests made by refiners … Read more
August 8, 2019 CNW CALGARY, Aug. 8, 2019 /CNW/ – Tidewater Midstream and Infrastructure Ltd. (“Tidewater”) (TSX:TWM) is pleased to announce that it has closed its previously announced $75 million bought deal financing (the “Offering“) of five-year convertible unsecured subordinated debentures (the “Debentures“). The Debentures have a coupon of 5.5 percent per annum, and a … Read more
August 8, 2019 CNW VANCOUVER, Aug. 8, 2019 /CNW/ – Hemisphere Energy Corporation (TSX-V: HME) (“Hemisphere” or the “Company”) is pleased to provide an operational update on its 2019 drilling program and field operations. Hemisphere is currently drilling the tenth horizontal well of its 2019 summer drilling program, with drilling operations for the first nine wells having progressed … Read more
VANCOUVER — A coalition of environmental and Indigenous groups is calling on insurance companies to drop or refuse to provide coverage of the Trans Mountain pipeline, although they concede its lead liability insurer is planning to continue coverage.
T…
By Lorcan Roche Kelly Aug 8, 2019 (Bloomberg) The yuan fix fixes markets again, oil producers try to fix prices again, and the Italian coalition needs fixing again. Here are some of the things people in markets are talking about today. Stability Chinese policy makers tried to calm global worries by fixing the yuan stronger … Read more
By Robert Tuttle Aug 8, 2019 Alberta’s oil production curbs finally appear to be draining inventories, at least for now. Crude supplies in Western Canada fell by 2.75 million barrels last month to the lowest since November 2017, Genscape Inc. said Wednesday. The decline is welcome news for the province, which has been struggling to … Read more
By Heesu Lee and Grant Smith Aug 8, 2019 (Bloomberg) Oil rebounded from the lowest level since January after Saudi Arabia contacted other producers to discuss options to stem a rout that’s been driven by the worsening U.S.-China trade war.Futures rose as much as 3.4% in New York, clawing back much of Wednesday’s 4.7% plunge. … Read more
EDMONTON — Premier Jason Kenney says he will unveil in early September the findings of a government-appointed panel making recommendations that will drive the United Conservative’s first budget.
But Kenney says he expects the panel, chaired by former …
By Grant Smith and Javier Blas Aug 8, 2019 (Bloomberg) While Saudi Arabia and its allies may be considering all possible means to end the slump in oil prices, the options available to them are scarce.The world’s biggest crude exporters have already been laboring since the beginning of the year to shore up prices by cutting production. … Read more
Lindbergh Proved Reserves Increased 34% While Proved and Probable Reserves Increased 25% August 08, 2019 | Source: Pengrowth Energy Corporation CALGARY, Alberta, Aug. 08, 2019 (GLOBE NEWSWIRE) — Pengrowth Energy Corporation (“Pengrowth” or the “Company“) (TSX:PGF, OTCQX:PGHEF), today reported its results for the three and six months ended June 30, 2019. The Company also announced that … Read more
August 08, 2019 | Source: STEP Energy Services Ltd. CALGARY, Alberta, Aug. 08, 2019 (GLOBE NEWSWIRE) — STEP Energy Services Ltd. (the “Company” or “STEP”) is pleased to announce its financial and operating results for the three and six months ended June 30, 2019. The following press release should be read in conjunction with the unaudited condensed … Read more
August 08, 2019 | Source: Kelt Exploration Ltd CALGARY, Alberta, Aug. 08, 2019 (GLOBE NEWSWIRE) — Kelt Exploration Ltd. (TSX:KEL) (“Kelt” or the “Company”) has released its financial and operating results for the three and six months ended June 30, 2019. The Company’s financial results are summarized as follows: FINANCIAL HIGHLIGHTS Three months ended June 30 … Read more
August 08, 2019 | Source: Pipestone Energy Corp. photo-release 2019 CAPITAL PROGRAM AND OPERATIONS UPDATE Refer to map Pipestone Energy Corp. PDF available: http://ml.globenewswire.com/Resource/Download/25a2825d-8096-42bc-9b6a-2f7b63c26673 CALGARY, Alberta, Aug. 08, 2019 (GLOBE NEWSWIRE) — (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) is pleased to report its Q2 2019 financial and operational results and provide a progress report on … Read more
August 7, 2019 Reuters The differential on Canadian heavy crude against the North American benchmark settled unchanged on Wednesday:* Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, settled at $12.90 per barrel below West Texas Intermediate (WTI) oil, according to Net Energy Exchange, matching Tuesday’s settled price. * Brisk rail movement … Read more
August 7, 2019 Globe Newswire CALGARY, Alberta, Aug. 07, 2019 (GLOBE NEWSWIRE) — Delphi Energy Corp. (“Delphi” or the “Company”) is pleased to announce its financial and operational results for the quarter ended June 30, 2019 and to provide an operations update. SECOND QUARTER 2019 HIGHLIGHTS Successfully concluded completion and tie-in operations on the 13-34-059-24W5 four-well pad (2.6 net) … Read more
August 7, 2019 Globe Newswire CALGARY, Alberta, Aug. 07, 2019 (GLOBE NEWSWIRE) — Bellatrix Exploration Ltd. (“Bellatrix”, “we”, “us”, “our” or the “Company”) (TSX: BXE) announces its financial and operating results for the three and six months ended June 30, 2019. This press release contains forward-looking statements. Please refer to our cautionary language on forward-looking statements and the … Read more
August 7, 2019 Globe Newswire CALGARY, Alberta, Aug. 07, 2019 (GLOBE NEWSWIRE) — Peyto Exploration & Development Corp. (“Peyto” or the “Company”) is pleased to present its operating and financial results for the second quarter of the 2019 fiscal year. A 66% Operating Margin(1) and a 85% Profit Margin(2) in the quarter, including a one-time deferred income tax … Read more
August 7, 2019 CNW CALGARY, Aug. 7, 2019 /CNW/ – Gear Energy Ltd. (“Gear” or the “Company”) (TSX:GXE) is pleased to provide the following second quarter operating update to shareholders. Gear’s Interim Consolidated Financial Statements and related Management’s Discussion and Analysis (“MD&A”) for the period ended June 30, 2019are available for review on Gear’s website at www.gearenergy.com and on www.sedar.com. Financial Summary (Cdn$ … Read more
August 7, 2019 CNW CALGARY, Aug. 7, 2019 /CNW/ – Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) (“Bonterra” or the “Company”) is pleased to announce its operating and financial results as at and for the three and six months ended June 30, 2019. The related unaudited condensed financial statements and notes, as well as management’s discussion and analysis (“MD&A”), are … Read more
The International Energy Agency (IEA) defines energy security as ”the uninterrupted availability of energy sources at an affordable price”. As they further elaborate, “Energy security has many aspects: long-term energy security mainly deals with timely investments to supply energy in line with economic developments and environmental needs. On the other hand, short-term energy security focuses … Read more
SHAKY LEGAL GROUND IS CRUMBLING UNDER THE FEDERAL CARBON TAX LEGISLATION: DWIGHT NEWMAN IN THE NATIONAL POST The view that the carbon tax law is unconstitutional has received just as many votes as any particular view that it is, writes Dwight Newman. This article originally appeared in the print edition of the National Post. By … Read more
David Shackleton works for Independent Data Services (IDS), an operations data automation company. IDS automates upstream data collection, provides analytics and data science services. Today we discuss data collection, some of the challenges faced by upstream oil and gas that IDS can solve, and some of the… Check out my new book, ‘Bits, Bytes, and Barrels: The Digital Transformation of Oil and Gas’, available … Read more
\ August 6, 2019 CNW CALGARY, Aug. 6, 2019 /CNW/ – Journey Energy Inc. (JOY – TSX) (“Journey” or the “Company“) announces its financial and operating results for the three and six month periods ending June 30, 2019. The complete set of financial statements and management discussion and analysis for the periods ended June 30, 2019 and 2018 are … Read more
August 7, 2019 CALGARY, Aug. 7, 2019 /CNW/ – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX: IPL) announced today that it has received commercial support for the construction of a $100 million pipeline connection between its Bow River and Central Alberta pipeline systems. The new pipeline, called the Viking Connector, will link various grades of light crude oil from the Viking and Mannville formations … Read more
By Laura Curtis Aug 7, 2019 (Bloomberg) Central banks are going easy, another oil bear market, and a milestone for gold. Here are some of the things people in markets are talking about today. Everybody’s doing it Fear over trade and currency wars is prompting monetary action around the globe. New Zealand’s central bank stunned investors and sent the … Read more
By Grant Smith and Tsuyoshi Inajima Aug 7, 2019 (Bloomberg) Brent crude declined further after falling into a bear market as concern the U.S.-China trade war will continue to sap demand outweighed an industry report showing American crude stockpiles are still shrinking.Futures slipped to a seven-month low just above $58 a barrel in London, after losses … Read more
August 07, 2019 | Source: InPlay Oil Corp. CALGARY, Alberta, Aug. 07, 2019 (GLOBE NEWSWIRE) — InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) is pleased to announce its financial and operating results for the three and six months ended June 30, 2019. InPlay’s condensed unaudited interim financial statements and notes, as well … Read more
August 07, 2019 | Source: Petrus Resources Ltd. CALGARY, Alberta, Aug. 07, 2019 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to report financial and operating results for the second quarter of 2019. Petrus is focused on organic growth and infrastructure control in its core area, Ferrier, Alberta. In order … 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. Welcome to the third in our series of articles highlighting why the … Read more
August 6, 2019 Reuters The differential on Canadian heavy crude remained at tight levels compared to the North American benchmark on Tuesday, despite easing production limits in Alberta. * Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, traded at $13 per barrel below West Texas Intermediate (WTI) oil, according to Net … Read more
By Michael Bellusci and Divya Balji Aug 6, 2019 (Bloomberg) Canadian stocks played catch up to a global market carnage as trading resumed Tuesday after a long weekend.The S&P/TSX Composite Index plunged as much as 1.7% Tuesday, extending its slump for a sixth straight session — its longest losing streak since Sept. 10. Energy stocks … Read more
August 06, 2019 | Source: NuVista Energy Ltd. CALGARY, Alberta, Aug. 06, 2019 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) is pleased to announce results for the three and six months ended June 30, 2019 and provide an update on our future business plans. In these times of significant volatility in the commodity … Read more
All financial figures are in Canadian dollars unless otherwise noted August 06, 2019 | Source: Gibson Energy Inc. CALGARY, Alberta, Aug. 06, 2019 (GLOBE NEWSWIRE) — Gibson Energy Inc. (“Gibson” or the “Company”), (TSX: GEI), announced today its financial and operating results for the three and six months ended June 30, 2019. “Gibson continued to deliver strong … Read more
Calgary, Alberta–(Newsfile Corp. – August 6, 2019) – Pine Cliff Energy Ltd. (TSX: PNE) (“Pine Cliff” or the “Company“) is pleased to announce the filing of its second quarter financial and operating results. Included in the filings were Pine Cliff’s unaudited interim condensed consolidated financial statements and related management’s discussion and analysis for the three … Read more
August 6, 2019 CNW CALGARY, Aug. 6, 2019 /CNW/ – Keyera Corp. (TSX: KEY) (“Keyera”) is pleased to announce the appointment of Mr. Blair Goertzen to its Board of Directors effective immediately. Mr. Goertzen has over 30 years of industry experience, both domestically and worldwide. Most recently, Mr. Goertzen served as President & Chief Executive Officer of Enerflex Ltd. He … Read more
MONTREAL — Shares of SNC-Lavalin Inc. plummeted to the lowest level in nearly 15 years Tuesday in reaction to its largest shareholder, the Caisse de depot et placement du Quebec, warning that the embattled engineering firm had to move to emergency mod…
CALGARY — Stalled oilfield activity in Canada and a slowing market in the United States are providing “headwinds” against which Ensign Energy Services Inc. continues to struggle, president Bob Geddes said on Tuesday.
The Calgary-based drilling company…
August 6, 2019 Reuters Enbridge Inc said it plans to keep the section of its Texas Eastern pipe in Kentucky shut through at least Aug. 12 after it exploded on Thursday, killing one person. Enbridge said in a notice to customers Monday afternoon that it is working with federal and state officials investigating the incident. … Read more
August 5, 2019 Globe Newswire International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) today released its financial and operating results and related management’s discussion and analysis (MD&A) for the three and six months ended June 30, 2019. Financial and Operational Highlights Average net production of 46,100 barrels of oil equivalent (boe) per day … Read more
By Lorcan Roche Kelly Aug 6, 2019 (Bloomberg) China manipulates currency, more negative-yielding bonds, and Venezuela hit with new sanctions. Here are some of the things people in markets are talking about today. Halting slide Chinese authorities reacted to the Treasury Department’s currency manipulator tag by halting the decline of its currency overnight. The People’s Bank of China set … Read more
By Tsuyoshi Inajima and Grant Smith Aug 6, 2019 (Bloomberg) Oil steadied as China moved to stabilize the yuan’s slide, cooling some concerns about an escalation in the standoff with the U.S., which labeled the Asian nation a currency manipulator. Futures added as much as 1.3% in New York as the People’s Bank of China on Tuesday … Read more
Register Here: http://www.phoenixenergymarketing.com/seminars.html Phoenix’s Introduction to Canadian Energy Marketing courses are full 2-day introductory level courses covering all marketing related topics within the Canadian Crude, NGL, and Natural Gas Industries. Some of the main topics covered in this course include: Basic Concepts and Terminology Supply and Demand Fundamentals Transportation and Storage Pricing Fundamentals Scheduling/Forecasting Contracts … Read more
When it comes to decals (or stickers 😉 ) there are so many options, that we have a solution for even the most unusual projects. We don’t want to bore you with too many details, so we created a small list of the most common vinyl, based on project needs, to help you gather your … 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
Re Indigenous Ownership Of TMX: Too Important To Get Wrong (July 26): Project Reconciliation is a proposal by First Nations and Métis to buy a majority stake in the Trans Mountain pipeline. Indigenous communities in Western Canada are no strangers to resource development, and many have a great deal of experience in the sector. We’re committed to … Read more
Chemco is pleased to announce the signing of our agreement with Gitga’at First Nation and the opening of our field office in Kitimat, BC. The purpose of the agreement is to realize business and social opportunities for both Gitga’at First Nation and Chemco, and opening a local area office will help us integrate with the … Read more
EDMONTON — Alberta is moving into the next phase of its plan to cut regulatory red tape.
Premier Jason Kenney’s government has announced that two industry panels tasked with advising it on redundant and ineffectual rules will begin meeting next week.
…
August 2, 20191:01 PM Reuters The differential on Canadian heavy crude widened on Friday, remaining in its recent trading range as government-ordered curtailments continued to underpin the market. * Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, traded at $13.15 per barrel below West Texas Intermediate (WTI) oil, according to Net … Read more
By Kevin Orland (Bloomberg) U.S. oil giants Exxon Mobil Corp. and Chevron Corp. got a little help from their neighbor to the north last quarter.A corporate tax rate cut in the oil-rich province of Alberta, where both companies have operations, boosted Exxon’s second-quarter profit by almost $500 million, according to a statement Friday. Chevron noted a $180 … Read more
Canada’s drilling rig count up 10 actively drilling rigs according to data collected by Baker Hughes for the week ending August 2, 2019 From one week ago, Alberta rig counts increased 13 to 86 and the Saskatchewan rig count decreased 2 to 36. Oil drilling increased 6 to 91 and gas increased 4 to 46. … Read more
August 3, 2019 Stewart Muir Three Canadian energy companies took out full-page ads in 30 newspapers across the country on Thursday, asking voters to “join us in urging Canada’s leaders of all political stripes to help our country thrive by supporting an innovative energy industry.” It was a bold move for the companies – Canadian Natural … Read more
By Laura Curtis Aug 5, 2019 (Bloomberg)An ugly sell-off to start the week, another trade war escalation, and Berkshire Hathaway has loads of cash. Here are some of the things people in markets are talking about today. Miserable start Financial markets were roiled Monday by yet another escalation of the U.S.-China trade war. Amid the tumult the … Read more
By Tsuyoshi Inajima and Alex Longley (Bloomberg) Oil resumed its decline as a sharp drop in the Chinese yuan compounded fears that a deepening trade war will depress demand.Futures lost as much as 1.8% in New York. The yuan weakened beyond 7 a dollar for the first time in more than a decade after U.S. … Read more
August 2, 2019 Reuters Enbridge Mainline System Canadian pipeline company Enbridge Inc said on Friday it would invite bids for contracted space on its Mainline system, in the face of opposition from some oil shippers who worry the changes could disadvantage small producers.The Mainline ships 2.85 million barrels per day of crude from Alberta in Canada … Read more
August 2, 201911:13 AM Reuters U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row as most independent producers cut spending even though majors were still pushing ahead with investments in new drilling. Drillers cut six oil rigs in the week to Aug. 2, bringing the total … Read more
August 2, 2019 Globe Newswire CALGARY, Alberta, Aug. 02, 2019 (GLOBE NEWSWIRE) — Toscana Energy Income Corporation (“Toscana” or the “Corporation”) (TSX: TEI) announces financial and operating results for the second quarter ended June 30, 2019. Financial and operating results: This news release summarizes information contained in the Condensed Consolidated Interim Financial Statements (unaudited) and Management’s Discussion and … Read more
VANCOUVER — The company building a 670-kilometre natural gas pipeline from northeastern British Columbia to the coast in Kitimat, B.C., says clearing along a section of the pipeline route has been suspended because some work began before required asse…
CALGARY — Imperial Oil Ltd. is reporting second-quarter results that beat analyst expectations on the back of strong oilsands output and an allowance for lower future Alberta corporate taxes.
The Calgary-based company, which is about 70 per cent owned…
CALGARY — Alberta’s oil curtailment program has worked to reduce inventories that had resulted in steep discounts in local oil prices, but it has hurt crude-by-rail economics and it’s time for it to end, the CEO of Imperial Oil Ltd. said Friday.
The c…
By Lorcan Roche Kelly Aug 2, 2019 (Bloomberg) Trump’s trade bomb, it’s jobs day and Johnson’s tiny majority just got smaller. Here are some of the things people in markets are talking about today. Mr. 10% We need to start today’s missive with an apology. Yesterday we may have given the impression that the trade war … Read more
By Heesu Lee and Grant Smith Aug 2, 2019 (BloombergOil is set for a weekly loss after the steepest one-day drop in more than four years as U.S. President Donald Trump abruptly escalated the trade war with China, deepening concerns over slowing growth.While futures in New York rebounded on Friday, prices are still far from … Read more
By Robert Tuttle Aug 2, 2019 (Bloomberg) U.S. refiners want more Canadian oil, and pipeline companies are finding ways to get it to them. Companies are adding space to their congested oil export pipelines from Canada even as plans for bigger expansions and new lines face delays. TC Energy Corp. will offer as much as … Read more
By Dana Hull Aug 2, 2019 (Bloomberg) Tesla Inc.’s energy business is shaking up management ranks nearly three years into Chief Executive Officer Elon Musk’s thus far dubious bet on solar, according to people familiar with the matter.Kunal Girotra, who joined Tesla in August 2015 as a senior product manager for its home battery product … Read more
By Eddie Spence Aug 2, 2019 Oil companies have a problem, and his name is Robert Paver.This 22-year-old graduate, along with his fellow students of earth sciences at the University of Oxford, should be natural recruits for an industry that has a long and lucrative history in the U.K. But instead of contemplating a career … Read more
CALGARY — A natural gas pipeline shut down after a massive explosion killed a woman in Kentucky on Thursday will not go back into service until it is “absolutely safe to do so,” the CEO of Enbridge Inc. vowed Friday.
In a news release, Al Monaco said …
Adjusted EBITDA Guidance Range Increased on Strength of Supply, International, USA and Synergy Capture August 01, 2019 | Source: Parkland Fuel Corporation CALGARY, Alberta, Aug. 01, 2019 (GLOBE NEWSWIRE) — Parkland Fuel Corporation (“Parkland”, “We”, the “Company”, or “Our”) (TSX:PKI) announced today the financial and operating results for the three and six months ended June 30, 2019. All … Read more
August 01, 2019 | Source: Freehold Royalties Ltd. CALGARY, Alberta, Aug. 01, 2019 (GLOBE NEWSWIRE) — Freehold Royalties Ltd. (Freehold) (TSX:FRU) announced second quarter results for the period ended June 30, 2019. RESULTS AT A GLANCE Three Months Ended Six Months Ended June 30 June 30 FINANCIAL ($000s, except as noted) 2019 2018 Change 2019 2018 Change … Read more
August 01, 2019 | Source: Parex Resources Inc. CALGARY, Alberta, Aug. 01, 2019 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX:PXT), a company focused on Colombian oil exploration and production, announces its unaudited financial and operating results for the three months ended June 30, 2019 (“Second Quarter” or “Q2”). All amounts herein are … Read more
ST. JOHN’S, N.L. — Canadian utility company Fortis Inc. says the sale of its share of a B.C. hydroelectric project helped boost its second-quarter profit to $720 million — nearly three times what it had in the same period last year.
However, adjusted …
August 01, 2019 Strad Inc. CALGARY, Alberta, Aug. 01, 2019 (GLOBE NEWSWIRE) — NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES (“U.S.”) The news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For full disclosure of the forward-looking information and statements … Read more
Why you should care about the TarSands Campaign even if you don’t work in the oil and gas industry.
REGINA — Ottawa is pushing back against Saskatchewan’s request to have the Supreme Court of Canada delay hearing its challenge of the federal carbon tax.
The press secretary for federal Environment and Climate Change Minister Catherine McKenna says th…
CALGARY — The Alberta government has hired a former journalist to develop a plan to fight back against oil and gas industry foes.
Claudia Cattaneo retired last year as the National Post’s western business columnist based in Calgary.
Energy Minster Son…
KITIMAT, B.C. — The company behind a controversial natural gas pipeline in northern British Columbia says construction began in a number of places before archaeological assessments were complete.
Coastal GasLink says an internal audit found there were…
The average Canadian family paid $39,299 in taxes last year—more than housing, food and clothing combined TORONTO—The average Canadian family spent more than 44 per cent of its income on taxes in 2018, more than housing, food and clothing costs combined, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian … Read more
August 1, 2019 Commenting on the Company’s second quarter 2019 results, Steve Laut, Executive Vice-Chairman of Canadian Natural stated, “Canadian Natural’s second quarter results demonstrated the advantages of our diverse and balanced asset base combined with our flexible capital allocation resulting in significant adjusted funds flow in the quarter of approximately $2.7 billion. … Read more
ST. JOHN’S, N.L. — It’s not possible to clean up what remains of an estimated 12,000 litres of oil spilled from the Hibernia platform off Newfoundland last month, according to the board that regulates the industry.
The Canada-Newfoundland and Labrador…
CALGARY — Two of Canada’s biggest oil and gas well-fracking companies are posting double-digit percentage revenue declines as energy exploration spending slowed in the quarter ended June 30.
Calfrac Well Services Ltd., which has operations in Canada, …
CALGARY — Shares in Tourmaline Oil Corp. tumbled by as much as 16 per cent on Thursday after it missed second-quarter expectations and warned it expects to produce fewer barrels of petroleum liquids and more dry gas this year.
The Calgary-based compan…
August 1, 2019 PR Newswire CALGARY, Aug. 1, 2019 /CNW/ – Paramount Resources Ltd. (ʺParamountʺ or the ʺCompanyʺ) is pleased to announce that it has closed the previously announced sale of its Karr 6-18 natural gas facility to CSV Midstream Solutions Corp. for total consideration of approximately $470 million. The consideration received by Paramount included approximately $330 million in cash … Read more
by Stewart Muir After voting to sue fuel companies for their role in climate change, local officials signed off on a jet-fuel pipeline project that will create decades of emissions. Awkward? Stewart Muir looks at the issue. Only a small number of municipalities in British Columbia have caved in to lobbying efforts by West Coast … Read more
CALGARY — Cost-saving synergies from its $3.8-billion purchase of the Canadian heavy oil and oilsands operations of Devon Energy Corp. will likely exceed expectations, Canadian Natural Resources Ltd. said on Thursday.
The Calgary-based company said in…
JUNCTION CITY, Ky. — A regional gas pipeline ruptured early Thursday in Kentucky, causing a massive explosion that killed one person, hospitalized five others, destroyed railroad tracks and forced the evacuation of a nearby mobile home park, authoriti…
By Laura Curtis Aug 1, 2019 (Bloomberg) The Fed dust has settled, trade wars and/or talks to resume in September, and more corporate earnings. Here are some of the things people in markets are talking about today. Trump’s all (mad) about the Fed. Chairman Jerome Powell managed to give markets a thrill even though the quarter point cut he delivered … Read more
By Kevin Orland Aug 1, 2019 (Bloomberg) TC Energy Corp.’s $8 billion Keystone XL crude oil pipeline is inching forward after a court injunction that stopped work on the project was been lifted. An order issued by a Montana judge barring certain pre-construction activities was dissolved on Monday, according to the Canadian company. That followed … Read more
August 01, 2019 | Source: Baytex Energy Corp. CALGARY, Alberta, Aug. 01, 2019 (GLOBE NEWSWIRE) — Baytex Energy Corp. (“Baytex”)(TSX, NYSE: BTE) reports its operating and financial results for the three and six months ended June 30, 2019 (all amounts are in Canadian dollars unless otherwise noted). Our strong operating performance continues, with our Eagle Ford, Viking … Read more
August 01, 2019 | Source: NXT Energy Solutions Inc. CALGARY, Alberta, Aug. 01, 2019 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX: SFD; OTC QB: NSFDF) is pleased to announce the appointment of Mr. Eugene Woychyshyn as Vice President of Finance and Chief Financial Officer, effective immediately. Mr. Woychyshyn has been the … Read more
Remains well positioned to fund $32 billion secured capital program August 01, 2019 | Source: TC Energy Corporation CALGARY, Alberta, Aug. 01, 2019 (GLOBE NEWSWIRE) — TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced net income attributable to common shares for second quarter 2019 of $1.1 billion or $1.21 per share … Read more
August 01, 2019 | Source: Delphi Energy Corporation CALGARY, Alberta, Aug. 01, 2019 (GLOBE NEWSWIRE) — Delphi Energy Corp. (TSX: DEE) (“Delphi” or the “Company”) announces Mr. Mark Behrman, Chief Financial Officer, has left the Company to explore other opportunities. Mr. Behrman served in this role at the Company for approximately two years. The board of directors of … Read more
July 31, 2019 CNW TORC Oil & Gas Ltd. (“TORC” or the “Company”) (TSX: TOG) is pleased to announce its financial and operating results for the three and six months ended June 30, 2019. The associated management’s discussion and analysis (“MD&A”) and unaudited interim financial statements as at and for the three and six months ended June 30, … Read more
July 31, 2019 Globe Newswire Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to report continued strong financial performance with its second quarter results. With its resilient business model, the Company is well positioned to generate free cash flow in 2019 and beyond. 2019 Second Quarter Highlights Consolidated Quarterly Results Production of ~34,000 … Read more
July 31, 2019 CNW Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) is pleased to release financial and operating results for the second quarter of 2019. HIGHLIGHTS 1H 2019 production average was 286,955 boepd, including impact of Q2 gas storage injections and gas price-related program deferrals. With Gundy Phase 1 now onstream, the Company reconfirms full-year … Read more
CALGARY — Three of Canada’s biggest oilsands producers are going directly to voters today to ask them to “influence the outcome” of big decisions concerning the oil and gas sector as a fall federal election looms.
In full-page ads in about 30 English …
July 31, 2019 Today, the Petroleum Services Association of Canada (PSAC), in its third update to its 2019 Canadian Drilling Activity Forecast, announced that it is decreasing its forecasted number of wells to be drilled (rig released) across Canada for 2019 from 5,300 (May 2019 revision) to 5,100 wells drilled. PSAC based its updated 2019 … Read more
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COMMENTARY: Here’s How to Help Secure Canada’s Energy Sovereignty – Fraser Institute