By Catherine Ngai Nov 29, 2019 (Bloomberg) Oil fell the most in more than two months amid signals that OPEC and allied crude producers are averse to deepening output cuts when they convene next week.Futures dropped 5.1% in New York on Friday, closing the U.S. benchmark’s poorest weekly performance since early October. Saudi Arabia probably will indicate … Read more
November 29, 2019 Globe Newswire CALGARY – Cequence Energy Ltd. (“Cequence” or the “Company”) (TSX: CQE) is pleased to announce that its senior lender has completed a redetermination of the borrowing base under the Company’s senior secured credit facility (the “Credit Facility”), and has confirmed the borrowing base remains at $7 million. Other than outstanding … Read more
November 29, 2019 Newswire CALGARY – Cuda Oil and Gas Inc. (“Cuda” or the “Company”) (TSXV: CUDA) is pleased to announce that it has entered into an Agreement with the Company’s institutional lender (the “Lender”) to extend the expiration of its 2nd Lien Facility from December 31, 2019 to March 31, 2020. In addition, the Lender … Read more
“A team you can count on. A product you can trust.” ***What we do*** As a true multi service provider Gemini Fabrication focuses on: Well pads, Well-Pairs, fabrication & assembly of modules, MCC buildings, pipe racks, meter skids, pipe spools, pump houses, exchanger skids, IA buildings, test separators, Group Separators, compressor skids, utility packages and more. … Read more
Aerostar Drone Solutions has developed a procedure for utilizing UAV’s to help locate potential areas of CUI (Corrosion Under Insulation). CUI accounts for approximately 40% of all corrosion related costs in North America. This type of corrosion is typically caused by moisture becoming trapped beneath process insulation. If left undetected this could lead to catastrophic … Read more
November 29, 2019 CNW Adjusted funds flow of $0.9 million in the third quarter, up 17% from the comparative quarter of 2018 and $4.2 million of adjusted funds flow for the nine months ended September 30, 2019, up 139%, versus the comparative nine months of 2018 Reduced net debt by $2.4 million, since the beginning of the year, to $15.8 million at September 30, 2019 resulting … Read more
November 29, 2019 CNW Reliable access to affordable natural gas meets agricultural, commercial, and industrial market demand CHATHAM, ON – Enbridge Gas announced today that the Chatham-Kent Rural Pipeline Expansion Project is in service. The $19.1M project ensures the reliable delivery of natural gas, meeting the growing agricultural, commercial, and industrial market demand in Chatham-Kent and surrounding areas, including in the … Read more
By Sybilla Gross Nov 28, 2019 (Bloomberg) Trump says talks with the Taliban are back on, financial stress warning signs are flashing in China, Morgan Stanley ousts traders. Here are some of the things people in markets are talking about today. Taliban Talks U.S. President Donald Trump took a surprise Thanksgiving trip to Afghanistan, where he revealed that peace talks with the Taliban have … Read more
By Javier Blas and Grant Smith Nov 29, 2019 (Bloomberg) For the last year, Saudi Arabia has largely turned a blind eye to cheaters within the OPEC+ alliance, cutting its own output more than agreed to offset over-production from the likes of Iraq and even Russia. Now, Riyadh’s had enough.Prince Abdulaziz bin Salman, who took over … Read more
By James M. Gomez and Lenka Ponikelska Nov 29, 2019 (Bloomberg) In a steamy foundry behind a century-old Czech brewery, a mechanical arm pours molten aluminum into a two-story robotic mold. Within seconds, gleaming pump covers for diesel engines roll out for inspection.The state-of-the-art production line at Motor Jikov Group AS in Ceske Budejovice, near the … Read more
By Alex Longley Nov 29, 2019 (Bloomberg) Oil headed for a fourth weekly gain, the longest winning streak since April, before a key OPEC+ meeting next week that will set the path for future production cuts. Futures held steady near $58 a barrel in New York as the U.S. Thanksgiving holiday reduced trading volumes. Saudi … Read more
By Shelly Hagan Nov 28, 2019 (Bloomberg) Owners of small Canadian firms have grown increasingly concerned about future business prospects, with the economy poised for a slowdown. Small business confidence weakened to 56.1 in November, the biggest decline this year and to the lowest since March, according to a survey from the Canadian Federation of Independent … Read more
November 28, 2019 | Source: Razor Energy Corp. CALGARY, Alberta, Nov. 28, 2019 (GLOBE NEWSWIRE) — Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) is pleased to announce its third quarter 2019 financial and operating results. Selected financial and operational information is outlined below and should be read in conjunction with Razor’s unaudited condensed consolidated … Read more
November 29, 2019 | Source: Saturn Oil + Gas Inc CALGARY, Alberta, Nov. 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 nine month periods ended September 30, 2019. The Company’s unaudited interim financial statements and corresponding … Read more
By Rachel Adams-Heard and Kevin Crowley (Bloomberg) —Texas wildcatters, after years eye-rolling at shale skeptics, are now saying global analysts are underestimating just how severe the industry’s slowdown is.What’s ticking folks off these days is how the International Energy Agency in Paris and the Energy Information Administration in Washington still predict robust U.S. production growth … Read more
The Outlook is released every quarter and offers comprehensive construction forecasts for a broad range of market segments and geographies in the U.S. and Canada as well as information on key market drivers. Key highlights from 2019 Q3 report include: Total engineering and construction spending for the U.S. is forecast to end up <1 percent … Read more
Iridium is an industry leader in providing risk management advice and insurance solutions to companies in the Oil & Gas, Chemical, Manufacturing, Marine, Construction and Technology sectors. To book your complimentary Risk Workshop today, please contact one of Iridium’s in-house risk experts.
On September 16, 2019, Erfan Sarvaramini conducted a keynote speech at the 4th annual Canadian Shale Water Management 2019 conference, entitled “Impact of Frac Injection Volume and Rate on Performance – A Montney Case Study.” (view PDF) In this talk, Erfan presented a geomechanical model of multistage hydraulic fracturing in the Montney Formation. This model was … Read more
This article was originally published on blog.paradoxaccess.com By Marc Breault “Every experience is a paradox in that it means to be absolute, and yet is relative; in that it somehow always goes beyond itself and yet never escapes itself.” — T.S. Eliot The Oxford English Dictionary defines a paradox (par· a· dox) as “a seemingly absurd or self-contradictory … Read more
Line 3 replacement project to ship first oil in December It takes a community to build a pipeline. Landowners, municipalities, First Nations and Métis people, regulators, elected officials, construction contractors, unions and chambers of commerce, goods and services providers, customers seeking to ship their products to market safely and reliably – it’s taken support from … Read more
NOVEMBER 27, 2019 – CALGARY, ALBERTA On Monday, November 25, a report was released by the International Institute for Sustainable Development (IISD), falsely claiming the British Columbia government gives hundreds of millions of dollars annually in subsidies for fossil fuel. This report is yet another instance where the authors alter the definition of a subsidy … Read more
Indigenous-owned business, Backwoods Energy Services, recognized in the Mid-Market category for its best-in-class corporate culture November 28, 2019 | Source: Backwoods Energy Services CALGARY, Alberta, Nov. 28, 2019 (GLOBE NEWSWIRE) — Backwoods Energy Services (Backwoods), the largest Indigenous-owned business in northwestern Alberta, has been named a winner by Waterstone Human Capital in the Mid-Market category of … Read more
November 27, 2019 | Source: PetroLMI, a Division of Energy Safety Canada CALGARY, Alberta, Nov. 27, 2019 (GLOBE NEWSWIRE) — Today the PetroLMI Division of Energy Safety Canada launched Experience the Energy: Take the Tour, a first-of-its-kind virtual reality (VR) tour of Canada’s oil and gas worksites. Experience the Energy: Take the Tour showcases the careers, the innovation … Read more
November 27, 2019 | Source: High Arctic Energy Services Inc. NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW CALGARY, Alberta, Nov. 27, 2019 (GLOBE NEWSWIRE) — High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic” or the … Read more
By Sybilla Gross and Alex Millson Nov 27, 2019 (Bloomberg) Trump signs Hong Kong Bill backing protesters. Investors are losing interest in mainland China stocks. Concerns rise after third Hong Kong stock in a week sees huge plunge. Here are some of the things people in markets are talking about today. Trump Signs President Donald Trump signed a … Read more
By Grant Smith, Olga Tanas and Dina Khrennikova Nov 28, 2019 OPEC and its allies sent more signals that they’ll stick with their existing output cuts at their meeting next week.As a key advisory committee in Vienna heard that the oil market will be balanced in 2020 if the Organization of Petroleum Exporting Countries maintains … Read more
By Ann Koh and Alex Longley Nov 28, 2019 (Bloomberg) Oil fell for a second day after U.S. crude supplies rose and President Donald Trump signed a law supporting Hong Kong protesters, potentially complicating trade talks with China.Futures declined as much as 0.8% in New York. American stockpiles defied analyst expectations to expand for a fifth … Read more
November 27, 2019 CNW CALGARY – Highwood Oil Company Ltd. (“Highwood” or the “Company“) (TSXV: HOCL) is pleased to announce financial and operating results for the quarter ended September 30, 2019. The Company also announces that its unaudited financial statements and associated Management’s Discussion and Analysis (“MD&A“) for the quarter ended September 30, 2019, can be found at www.sedar.com and www.highwoodoil.com. Highlights … Read more
CALGARY — The Alberta government says it will leave its oil production quotas unchanged in January to deal with the lingering consequences after oil shipping was delayed by the Canadian National Railway Co. strike and the temporary shutdown of the Key…
XI Technologies is hosting two free webinars in December to address common questions when it comes to asset retirement obligations. These webinars will be 30 minutes each and will demonstrate how ARO Manager helps users with a built-in, industry-recognized cost model and helps them discover working interest partners. Webinar: How to Find Working Interest Partners … Read more
TORONTO — North American stock markets set new record highs yet again on good U.S. data including a positive revision in economic growth in the third quarter.
U.S. GDP came in at a 2.1 per cent annual rate over the summer, up from the Commerce Departm…
ANCHORAGE, Alaska — Hilcorp Energy Co. and one of its drilling contractors have each paid fines of $25,000 or more after a worker died at a company drilling rig on Alaska’s North Slope, officials said.
Shawn Huber, 36, died at the Milne Point field in…
Calgary, Alberta–(Newsfile Corp. – November 27, 2019) – LEUCROTTA EXPLORATION INC. (TSXV: LXE) (“Leucrotta” or the “Company”) is pleased to announce its financial and operating results for the three and nine months ended September 30, 2019. All dollar figures are Canadian dollars unless otherwise noted. HIGHLIGHTS Achieved adjusted funds flow of $1.8 million in Q3 2019. Maintained … Read more
By Sybilla Gross and Alex Millson Nov 26, 2019 (Bloomberg) Trump signals the first phase of a trade deal is near completion, early signs are pointing to a slowdown in China for a seventh straight month, and mainland investors are eagerly awaiting Alibaba stocks. Here are some of the things people in markets are talking about … Read more
Nov 27, 2019 (Bloomberg) As the United Nations warns countries need to do more to stave off the worst impacts of climate change, the world’s biggest carbon emitter has little to offer in the way of stronger action.While China’s top environmental officials reiterated the nation’s commitment to the Paris Agreement climate goals during a briefing in Beijing Wednesday, … Read more
By Ann Koh and Alex Longley Nov 27, 2019 (Bloomberg) Oil held steady as traders weighed hopes for a limited U.S.-China trade deal against a reported increase in American crude stockpiles.Futures were little changed above $58 a barrel in New York after rising 1.1% over the previous two sessions. President Donald Trump said talks on the … Read more
MONTREAL — An end to a nationwide rail strike that has gripped the country for eight days is within sight, but concerns linger over the economic fallout.
Canadian National Railway Co. and Teamsters Canada reached a tentative deal Tuesday to renew a co…
November 26, 2019 | Source: International Frontier Resources Corporation CALGARY, Alberta, Nov. 26, 2019 (GLOBE NEWSWIRE) — International Frontier Resources Corporation (“IFR” or the “Company”) (TSX‐V: IFR) (OTCQB: IFRTF) reported today its financial and operating results for the three and nine months ended September 30, 2019. Selected financial and operational information is set out below and should be … Read more
November 26, 2019 CALGARY – Traverse Energy Ltd. (“Traverse” or “the Company”) (TSX Venture: TVL) announces that following discussions with ATB Financial (“ATB”), its lender under the Company’s revolving operating loan facility, ATB has demanded repayment of all amounts owing thereunder, being approximately $6.5 million, and delivered a Notice of Intention to Enforce Security under … Read more
November 26, 2019 CALGARY – Point Loma Resources Ltd. (TSXV:PLX) (the “Corporation” or “Point Loma“) reports its financial and operating results for the three and nine months ended September 30, 2019. Highlights of the period and additional updates are summarized below: Q3 – 2019 Financial and Operating Results Three months ended September 30 Nine months ended … Read more
November 26, 2019 Reuters Alberta will keep its oil production limit in January at 3.81 million barrels per day, the same level allowed in December, a government spokesman said.The province has been gradually easing curtailments on crude output but kept the January level unchanged due to external factors that have limited transportation, such as the … Read more
EDMONTON — Alberta Premier Jason Kenney and Deputy Prime Minister Chrystia Freeland met up in Edmonton to try to find some common ground in a region that shut out the Liberals in the federal election.
Freeland, also named intergovernmental affairs min…
CALGARY — The former executive director of the International Energy Agency says the biggest risk to Canada’s nascent LNG industry is that it will be “too late” to join in a massive LNG expansion surge sweeping the globe.
Maria van der Hoeven, a retire…
Recently I fielded an email enquiry from a large international oil and gas company asking my views on what should be included in the scope of a digital transformation. A bit like asking for the table of contents from my book. Context The volume of interest in understanding how digital will impact oil and gas … Read more
You don’t want your customers to stop at the door, so don’t let your branding stop there either. Office signage is a powerful display tool, so take advantage of reinforcing your brand not only outside, but inside your office as well. External marketing creates a connection between your company and the customers, while Internal marketing … Read more
Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Wednesday Word to the Wise in your inbox, subscribe here. As asset retirement obligations have begun to get more attention from producers, … Read more
Technology – driving efficiency in Alberta’s oil and gas sector GreenPath Energy uses technology to reduce methane emissions and drive productivity By Jessica Shumlich, Program Manager This week, Petroleum Technology Alliance Canada hosted its Methane Emissions Reduction Forum in Banff. Methane is a big focus of efficiency programs geared towards the natural gas sector because … Read more
10-year deal is largest applied research partnership in NAIT’s history Official Press Release EDMONTON, Nov. 26, 2019 /CNW/ – Inter Pipeline Ltd. (“Inter Pipeline”) and The Northern Alberta Institute of Technology (“NAIT”) today announced a new partnership to research opportunities to reuse and recycle plastic in Canada. The ten-year agreement, known as Plastics Research in Action (“PRIA”), … Read more
By Sybilla Gross Nov 25, 2019 (Bloomberg) Westpac’s CEO steps down, SoftBank launches a $3 billion tender offer for WeWork, and markets gain again on hopes a trade deal is near. Here are some of the things people in markets are talking about today. Hartzer Resigns Westpac Chief Executive Officer Brian Hartzer has resigned after the lender was engulfed by allegations it … Read more
By Ann Koh and Grant Smith Nov 26, 2019 (Bloomberg) Oil rose on signs of progress in trade talks between the U.S. and China, and estimates that American crude inventories retreated for the first time in five weeks.Futures gained 0.6% to trade above $58 a barrel in New York. Washington and Beijing “reached consensus on properly resolving … Read more
November 26, 20197:42 AM The Canadian Press MONTREAL – Teamsters Canada says it has reached a tentative agreement with Canadian National Railway Co. to renew the collective agreement for over 3,000 conductors, trainpersons and yard workers. The union says normal operations at CN will resume Wednesday at 6 a.m. local time across Canada. More coming.
November 26, 2019 Reuters Global oil consumption has apparently accelerated since mid-year as lower prices filter through the supply chain, increasing demand and avoiding a big increase in inventories. But all may not be as it seems. Much of the growth has come from China, where reported consumption is rising at rates inconsistent with the country’s … Read more
November 26, 2019 Globe Newswire CALGARY – Delphi Energy Corp. (“Delphi” or the “Company”) is pleased to announce the completion of its previously announced recapitalization transaction (the “Recapitalization Transaction”). The Recapitalization Transaction was implemented pursuant to a plan of arrangement (the “Plan of Arrangement”) under the Canada Business Corporations Act (the “CBCA”). The Recapitalization Transaction included the following components: The … Read more
Saving Time and Money for Downstream & Midstream Operators You’re Invited! REGISTER NOW AND SAVE THE DATE! REGISTER HERE This is a complimentary event you don’t want to miss! MISTRAS Group would like to invite YOU to our Open House on Thursday, December 5th from 11am-4:30pm at our Edmonton, Alberta – Canada facility. Join us … Read more
New to our 21st Annual Holiday Party on Thursday, will be a tastings table coordinated by Craftwork Spirits & Beverages Ltd. You can expect the following samples to be available: The Remarkable Regional Malts: a family of Scotch whiskies relatively new to Alberta Dutch Courage: a gin brand Artisinally produced by Zuidam distillers in The Netherlands Flying Dutchman: A … Read more
Nina Chestney LONDON (Reuters) – New clean energy investment slid by more than a fifth in developing countries last year due to a slowdown in China, while the amount of coal-fired power generation jumped to a new high, an annual survey showed on Monday. Bloomberg New Energy Finance (BNEF) surveyed 104 emerging markets and found … Read more
November 24, 2019 CNW CALGARY – Pembina Pipeline Corporation (“Pembina” or the “Company”) (TSX: PPL; NYSE: PBA) is driven by doing what is right for the country and fellow Canadians. While being understanding of the circumstances of the ongoing rail strike, the Company took swift action to help avert the potential hardships of a propane shortage by working … Read more
OTTAWA — The federal government says the Trans Mountain pipeline expansion will bring another $500 million a year in corporate tax revenue to be spent on fighting climate change, but the Liberals won’t say where they got that number.
The figure was ci…
By Divya Balji and Doug Alexander Nov 25, 2019 (Bloomberg) Canada’s biggest banks are finally pulling their weight. Shares of the nation’s largest lenders, known as the “Big Six,” are staging a comeback amid the central bank’s resistance to cutting interest rates. Over the last three months, the stocks have climbed 12% — almost doubling the … Read more
VANCOUVER — A new report says the British Columbia government gives hundreds of millions of dollars annually in subsidies for fossil fuel, including $830 million in the 2017-18 fiscal year.
The report by the International Institute for Sustainable Dev…
CALGARY — A Calgary-based company that drills for natural gas in Colombia says it has started making and selling liquefied natural gas to supply energy consumers in the South American country.
Canacol Energy Ltd. says it is the first to offer the serv…
By Lorcan Roche Kelly Nov 25, 2019 (Bloomberg) China offers another olive branch to the U.S., pro-democracy candidates win big in Hong Kong election, and big M&A news. Here are some of the things people in markets are talking about today. IP rules, ok? Intellectual property has been one of the major sticking points in trade talks … Read more
By Simone Foxman and Verity Ratcliffe Nov 25, 2019 (Bloomberg) Qatar, the world’s biggest supplier of liquefied natural gas, plans to boost output capacity by almost two thirds after it adds production facilities to exploit recently discovered reserves.The Persian Gulf state will expand its LNG capacity to 126 million tons a year by 2027, thanks to … Read more
By Jesper Starn and Lars Paulsson Nov 24, 2019 (Bloomberg) In a remote area almost eight times the size of Manhattan covered by millions of young fir trees, Europe’s biggest onshore wind park is emerging.Workers are installing turbines perched atop 130-meter tall towers at a rate of about two a week at the site in northern … Read more
By Ann Koh and Grant Smith Nov 25, 2019 (Bloomberg) Oil held near $57 a barrel in New York as China made a concession that could help resolve trade tensions with the U.S. that have weighed on the global economy and fuel demand. Futures fell 0.9% and were more than $1 below the two-month intraday high … Read more
By Will Wade Nov 25, 2019 (Bloomberg) For all the talk of ditching fossil fuels to fight climate change, coal remains king in much of the world.The amount of electricity generated from coal jumped 7% in the developing world last year, according to BloombergNEF’s annual Climatescope report that evaluated more than 100 nations. It’s the biggest increase in … Read more
By Sandrine Rastello Nov 25, 2019 (Bloomberg) Workers are receiving lay-off notices and chemical companies face shutdowns as the effects of Canada’s largest rail strike in a decade ripples through the economy. The strike by about 3,200 conductors and railyard operators at Canadian National Railway Co. is entering its seventh day on Monday, disrupting cargoes of everything … Read more
November 25, 2019 07:00 ET | Source: Canacol Energy Ltd. CALGARY, Alberta, Nov. 25, 2019 (GLOBE NEWSWIRE) — Canacol Energy Ltd. (“Canacol” or the “Corporation”) (TSX: CNE; OTCQX: CNNEF; BVC:CNEC) is pleased to announce that it has commenced the production and sale of liquified natural gas (“LNG”), the first such operation in Colombia. The Corporation is also … Read more
November 25, 2019 | Source: Saturn Oil + Gas Inc CALGARY, Alberta, Nov. 25, 2019 (GLOBE NEWSWIRE) — Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSXV: SOIL) (FSE: SMK) is pleased to announce that it has engaged GBC AG (“GBC”), one of the leading independent research and investment companies in the European financial community, … Read more
CALGARY — A key indicator of future oil and gas drilling activity in Western Canada is sliding lower as the industry deals with a lack of pipeline capacity, Alberta oil production curtailments and difficulty accessing capital markets.
Sales of Crown d…
Canada’s drilling rig count is up 3 actively drilling rigs according to data collected by Baker Hughes for the week ending November 22, 2019. From one week ago, Alberta rig counts increased 1 to 91 and the Saskatchewan rig counts stayed at 31. Oil drilling decreased 2 to 86 and gas increased 5 to 51. … 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 32 energy and energy service companies with regular updates. He holds quarterly subscriber webinars and provides Action BUY and SELL … Read more
Greenpeace: [email protected], Stand.Earth: [email protected], CorpEthics: [email protected], David Suzuki : [email protected], Tides Canada: [email protected] Dear ENGO’s, I’d like to congratulate you on the success of your “environmental” campaigns. Excuse me, I should say “sustainability” campaigns. That seems to be the new word you’re using. You’ve been very successful at destroying the reputation of Canada’s oil and … Read more
“Osprey is great example of how small-medium enterprises can make a real difference in a big corporate like Shell. Their success is founded on a great team, superior technology and tremendous stamina”. Geert van de Wouw, VP Shell Ventures Learn More: https://www.linkedin.com/pulse/behind-scenes-shell-ventures-who-says-elephants-cant-van-de-wouw/ In the short video below, Giancarlo Savini (Implementation Manager at Shell Ventures in … Read more
Retroreflective vinyl, commonly referred to as reflective vinyl, is not self-luminescent. Its properties aren’t apparent in normal daylight conditions. Its glass or prismatic beads are specifically designed to reflect light back to the source making them visible at night when illuminated with artificial light, such as that from motor vehicle headlights. This reflective property is … Read more
For Stacey at a Raymond Alberta based trucking company, that services clients in a wide variety of industries including oil and gas, the timing was right. “Factoring with Capital Now has been instrumental in my ability to efficiently grow my business,” said Stacey. “My husband and I started the business half a year ago and … Read more
By Robert Tuttle Nov 23, 2019 (Bloomberg) Canada’s oil patch will start feeling the full force of Canadian National Railway Co.’s worker strike by as early as this weekend, with two crude-by-rail terminal operators unable to receive any more oil deliveries.TORQ Energy Logistics Ltd. won’t be able to get any more crude at its CN-serviced rail terminals once … Read more
By Julian Lee Nov 24, 2019 (Bloomberg Opinion)In less than two weeks, OPEC and its allies are due to meet to decide on the next phase of their deal for managing the supply of crude oil, and therefore its price. Expect them to decide to do nothing for another six months, kicking the can further down the … Read more
MONTREAL — The ongoing CN strike has cost scores of Halifax rail workers their jobs — at least for now — as the labour stoppage continues to impact shipping across the country, the union representing the employees said Saturday.
More than 250 staff at…
November 22, 2019 Reuters U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row and the rig count has dropped 24% year-on-year as producers cut spending on new drilling.Drillers cut three oil rigs in the week to Nov. 22, bringing the total count down to 671, the … Read more
CALGARY — Alberta’s energy minister says she had a productive meeting with Canada’s newly appointed natural resources minister, but adds she hopes to see action in the near future.
Sonya Savage met with Seamus O’Regan, an MP from Newfoundland, Friday …
By Adam Haigh Nov 21, 2019 (Bloomberg) U.S. President Donald Trump receives legislation supporting Hong Kong protesters. Billionaire Louis Bacon calls time on the hedge fund business. Rich Hongkongers plan escape routes for their cash. Here are some of the things people in markets are talking about. Moral Authority House Speaker Nancy Pelosi sent Donald Trump legislation supporting Hong Kong protesters, … Read more
By Kriti Gupta Nov 22, 2019 (Bloomberg) Banks have begun trimming back the credit lines of America’s shale producers, further undercutting a beleaguered industry that’s been struggling to rebuild investor confidence.Laredo Petroleum Inc. and Oasis Petroleum Inc. are among at least six producers whose ability to secure short-term loans against their oil and natural gas reserves … Read more
By Saket Sundria and Grant Smith Nov 22, 2019 (Bloomberg) Oil pared a third weekly advance amid mixed signals on a trade agreement between the U.S. and China, which would end an impasse that has weighed on the global economy and fuel demand. Futures slipped 0.4% in New York, yet remained on track for a weekly … Read more
By Esteban Duarte Nov 21, 2019 (Bloomberg) A think tank is number crunching assets that may potentially be written down by Canadian energy companies in order to limit C02 emissions, a first step for establishing a market to help finance the transition into greener production methods.The effort to count so-called stranded assets has a particular resonance … Read more
By Shelly Hagan and Robert Tuttle Nov 22, 2019 (Bloomberg) Quebec is facing an emergency shortage of propane and shipments of oil, grain and metal are grinding to a halt as the impact of a rail strike in Canada threatened to take a multibillion-dollar chunk out of the nation’s economy. About 3,200 conductors and yard operators … Read more
November 21, 2019 CNW All financial figures are in Canadian dollars ($ or C$) and all references to barrels are per barrel of bitumen sales unless otherwise noted CALGARY – MEG Energy Corp. (TSX:MEG) announced today its 2020 capital investment plan and operational guidance. Highlights include: A capital budget of $250 million, to be fully funded with a portion of expected 2020 adjusted funds flow; 2020 production guidance of 94,000 to 97,000 bpd, which takes … Read more
EDMONTON — An environmental law firm is asking a court to strike down Alberta’s inquiry into the role that foreign money has in financing the activities of charities that oppose the oilsands.
Ecojustice claims the province’s inquiry into what it calls…
OTTAWA — Prime Minister Justin Trudeau quickly backed up his pledge for more dialogue with the West, opening his Thursday meeting with Calgary’s mayor up to the two members of his government now entrusted with being ambassadors to the region.
Manitoba…
ANCHORAGE, Alaska — The Trump administration will consider a new management plan and expanded oil drilling for the National Petroleum Reserve-Alaska, an Indiana-size area that former Interior Secretary Ken Salazar characterized as an “iconic place on …
NEW ORLEANS — The federal agencies that make and enforce offshore oil and gas leases say they’ll encourage new wells in shallow Gulf of Mexico waters by allowing some reduced-royalty or even royalty-free production if owners can prove they need it.
So…
The federal government is resisting calls to intervene in a railway strike despite the spectre of a propane shortage in Quebec and rising pressure from premiers and CEOs across the country to reconvene Parliament ahead of schedule and legislate the 3,…
November 21, 2019 CALGARY – Return Energy Inc. (“Return” or the “Company“) (RTN: TSXV) is pleased to announce that it has entered into a definitive reorganization and investment agreement (the “Agreement“) with Fotis Kalantzis and Richard F. McHardy (the “Initial Investors“) which provides for: (i) a non-brokered private placement for gross proceeds of up to $25.0 million (the “Private Placement“); and (ii) the appointment of a new management … Read more
November 21, 2019 Franco Terrazzano Leaders at the Alberta Union of Provincial Employees have completely lost touch with reality. A document obtained by the Canadian Taxpayers Federation shows the AUPE leadership started pushing the government for a 7.85 per cent wage increase early this year. The demand is so ridiculous you must see the AUPE’s document just to believe it. … Read more
Featuring: Relocated Bankruptcy Assets from Bertram Drilling Corp, Applied Hammer Construction, and Machine Works Industrial Inc. including: Drills, Vacuum Trucks, Water Trucks, Fuel/Lube Trucks, Jobsite Trailers, Super B Grain Trailers, Highway Tractors and Trailers, 938K Loaders, Light Trucks, Cars, Utility Vehicles, Fabrication and Welding Equipment, Attachments and Much More! Day 1 – Featuring: Rolling Stock/Major Assets – OPEN … Read more
By Lorcan Roche Kelly Nov 21, 2019 (Bloomberg) Trade worries dominate despite China reassurance, impeachment inquiry drama, and markets only see a Conservative U.K. election victory. Here are some of the things people in markets are talking about today. Mood sours The Congressional bill in support of demonstrators in Hong Kong that’s expected to be signed by President Donald Trump is renewing market worries that … Read more
By Saket Sundria and Grant Smith Nov 21, 2019 (Bloomberg) Oil steadied after Wednesday’s rally amid mixed prospects for a trade agreement between the U.S. and China that impacts global energy demand, and lower crude stockpiles at a key American storage hub. Futures for January delivery rose 0.6% in New York. China’s Vice Premier Liu He … Read more
By Jacqueline Thorpe and Robert Tuttle Nov 20, 2019 (Bloomberg) Pressure is mounting on Canadian Prime Minister Justin Trudeau to take action to end a railway strike that’s curtailing shipments of one the world’s biggest exporters of raw materials.More than 3,200 conductors and yard operators walked off the job at Canadian National Railway Co. on Tuesday, … Read more
By Robert Tuttle Nov 20, 2019 (Bloomberg) The price of Canadian heavy crude weakened as a worker strike at the nation’s largest railway curbed oil shipments, exacerbating a supply glut that’s crippled Canada’s oil industry. Crude-by-rail volumes have largely halted as Canadian National Railway Co. prioritizes shipments of perishable goods such as grain amid a shortage of workers, … Read more
By Theophilos Argitis Nov 21, 2019 (Bloomberg) In the corridors of corporate Canada, Finance Minister Bill Morneau tends to inspire equal measures of grievance and hope.To some, the former Bay Street executive hasn’t sufficiently defended the interests of business at a cabinet table that may be the most left-leaning and activist in a generation under Prime … Read more
November 21, 2019 | Source: Prairie Provident Resources Inc. CALGARY, Alberta, Nov. 21, 2019 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“PPR” or the “Company”) (TSX:PPR) announces an operational update highlighting the successful initial results from a new well in the Company’s core Princess operating area. Princess Area New Well Results PPR’s latest 102/08-04-021-11W4 well is the … Read more
November 20, 2019 Reuters The premier of Alberta, Canada’s top oil-producing province, said Wednesday that the end of a government-imposed curtailment on oil production could come earlier than its December 2020 sunset date.“We hope it will end by this time next year at the latest,” Premier Jason Kenney told Reuters during an interview in Houston, where … Read more
Calgary, Canada: Sunexo Solutions (Sunexo) is proud to support Startup Grind Calgary’s Annual Focus on Social Enterprise Event – Featuring W. Brett Wilson. Sunexo has been a long-time sponsor with Sunexo’s President Chad Ford also serving as the Chair of the Board for Startup Grind Calgary. About the Event Startup Grind Calgary is continuing their … Read more
CALGARY — The CEO of Encana Corp. is firing back after Canadian investment manager Letko, Brosseau & Associates Inc. said it would vote its four per cent stake against the Calgary-based company’s planned headquarters move to Denver.
Doug Suttles, a Te…
November 20, 2019 CNW CALGARY – Pembina Pipeline Corporation (“Pembina” or the “Company”) (TSX: PPL; NYSE: PBA) is pleased to announce that it and Kinder Morgan Canada Limited (“Kinder Morgan Canada”) (TSX:KML) have received a “no-action letter” from the Canadian Competition Bureau confirming that the Commissioner of Competition does not intend to challenge the proposed acquisition by … Read more
CALGARY — Pembina Pipeline Corp. says the Canadian Competition Bureau has signed off on its $4.3-billion deal to buy assets from Kinder Morgan Inc.
The Calgary-based company says the receipt of the “no-action letter” from the bureau clears the final r…
By Adam Haigh Nov 19, 2019 (Bloomberg) The U.S. Senate passes a bill aimed at backing Hong Kong protesters, Washington and Beijing are discussing tariff rollbacks, and the EU is poised to send a warning to China over 5G. Here are some of the things people in markets are talking about. Deal Closer? The near-deal between the U.S. … Read more
By Saket Sundria and Grant Smith Nov 20, 2019 (Bloomberg) Oil steadied after falling to a two-week low on signs of swelling American crude inventories, while heightened political tensions clouded the chances of a trade deal between the U.S. and China.Futures held above $55 a barrel in New York after slumping 3.2% on Tuesday, the most … Read more
November 19, 2019 CNW OTTAWA – The Energy Council of Canada has released its newest annual initiative, the Canadian Energy Compendium. The Compendium is a collaborative project comprised of articles provided by the organization’s cross-sectoral membership. The initiative aims to highlight a different aspect of Canadian energy each year, to be selected with input from Energy Council members. The subject … Read more
November 19, 2019 | Source: Cordy Oilfield Services Inc. CALGARY, Alberta, Nov. 19, 2019 (GLOBE NEWSWIRE) — CORDY OILFIELD SERVICES INC. (the “Corporation” or “Cordy”) (CKK: TSX-V) released today its third quarter 2019 results. Three months ended September 30, Nine months ended September 30, ($ 000’s) 2019 2018 ($) Change 2019 2018 ($) Change Revenue Environmental Services … Read more
November 19, 2019 | Source: Birchcliff Energy Ltd. CALGARY, Alberta, Nov. 19, 2019 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce that the Toronto Stock Exchange (the “TSX”) has accepted the notice of Birchcliff’s intention to make a normal course issuer bid (the “NCIB”). The NCIB allows Birchcliff … Read more
The Canadian Press Trans Mountain terminal in Edmonton shown on October 23, 2019. VANCOUVER – The Trans Mountain pipeline received $320 million in subsidies from the Canadian and Alberta governments in the first half of 2019, says a new report by an economic institute that analyzes environmental issues. The money included $135.8 million in direct … Read more
By David Yager A month after the discouraging federal election it is time to acknowledge even our most supportive politicians cannot protect Canada’s oil and gas industry from the vocal, powerful and intellectually disingenuous climate alarmist movement. The pursuit of better treatment for the west in Canada by the political leaders we support – Jason … 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. Last week, XI Technologies hosted a room full of oil and gas … Read more
Interview by Marc LaCour Don’t miss this educational and entertaining podcast where Paul sits down with Mark to talk about Osprey Informatics and all of the services they provide. Weather it’s personalized and accurate alerts for things such as vehicles, equipment leaks etc.., to critical sensors that combine data with SCADA OGGN is a new … Read more
Sunexo Solutions’ RegSync Bundle finds insight around how to address climate concerns of future development Calgary, Canada: Working with Questor Technology, Sunexo Solutions (Sunexo) and local Calgary startup RegSync, completed an analysis of all public comments and engagement records submitted by LNG proponents in north-western British Columbia, with a focus on air quality and emissions. … Read more
Scovan Engineering successfully completes Recover® Energy Services Inc. Lodgepole Waste Management Facility Debottleneck Project. Recover® Energy Services Lodgepole Waste Management Facility, located west of Drayton Valley, Alberta provides a solution for off-lease drilling waste remediation. The facility meets Alberta Energy Regulator’s Directive 058 requirements and waste management practices, providing environmental protection while recovering base oil … Read more
Canada has a competitiveness challenge—and a recent Business Council of Canada survey identified regulation as the single most important policy area for our governments. If we can create effective regulations that achieve the public interest with the least economic disruption, we can foster economic growth and improve the country’s standard of living. We can also … Read more
CALGARY — A Canadian investment management firm with a four per cent stake in Calgary-based Encana Corp. says it will vote against Encana’s plan to move its headquarters to the United States.
Letko, Brosseau & Associates Inc. says the planned move to …
Dear Canadian Energy Industry Supporters, It feels like the Canadian federal election took the wind out of everyone’s sails, but if you support oil and gas (and the Canadian energy industry), you cannot sit back quietly any longer. Absolutely not. If we sit back, the discrimination, rhetoric, and misguided hysteria will continue, and the oil … Read more
By Andreea Papuc Nov 18, 2019 (Bloomberg) Hundreds of Hong Kong protesters remain surrounded by police, Jay Powell meets with Donald trump and climate change is set to bring more fire tornadoes to Australia. Here are some of the things people in markets are talking about today.Hong Kong SiegeA two-day university siege in Hong Kong is raising fears of a … Read more
By William Mathis Nov 18, 2019 (Bloomberg) The world is getting windier at the same time that developers are installing more turbines to generate electricity from breezes. Average wind speeds rose about 7% since 2010 in northern mid-latitude regions, reversing a trend of slowing winds in the decades prior, according to a group of researchers from … Read more
By James Thornhill Nov 19, 2019 (Bloomberg) The world’s biggest lithium-ion battery is about to get even bigger, with Tesla Inc. set to beef up capacity at the Hornsdale site in South Australia. The system will be expanded by 50% to 150 megawatts, according to an announcement from Neoen SA, the French company that operates the … Read more
By Saket Sundria and Grant Smith Nov 19, 2019 (Bloomberg) Oil fell for a second day on indications American crude stockpiles and shale output will keep expanding, while investors wait for a breakthrough in U.S.-China trade talks. Futures declined as much as 1.6% in New York to their lowest since Nov. 8. U.S. oil inventories probably … Read more
November 18, 2019 | Source: SAExploration Holdings, Inc. HOUSTON, Nov. 18, 2019 (GLOBE NEWSWIRE) — SAExploration Holdings, Inc. (NASDAQ: SAEX, OTCQB: SXPLW), or SAE, today announced a combined $130 million of new projects in Alaska, Canada and the Middle East. The largest contract is valued at approximately $112 million for onshore data acquisition services to be performed … Read more
November 19, 2019 | Source: Precision Drilling Corporation photo-release Alpha Image #1 Alpha Brand Precision Drilling Corporation Alpha Image #2 Alpha Brand Precision Drilling Corporation 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 … Read more
A CN locomotive goes through the CN Taschereau yard in Montreal. (File/THE CANADIAN PRESS) The Canadian Press, Staff Published Tuesday, November 19, 2019 MONTREAL — About 3,200 Canadian National Railway conductors, trainpersons and yard workers are on strike after the union and company failed to reach a deal by the midnight deadline. The Teamsters Canada Rail … Read more
November 19, 2019 – The resumption of parliament on December 5th represents a chance at a fresh start for the Trudeau government, but will his minority administration be able to address the priorities Canadians are identifying as most important to them? A new study from the non-profit Angus Reid Institute suggests success will be challenging at best, … Read more
CALGARY — TC Energy Corp. is looking at “optimizing” unaffected parts of its Keystone pipeline and will use drag reducing agents to ease volume losses following a spill in North Dakota, Paul Miller, vice-president of liquids pipelines, reported Tuesda…
VANCOUVER — The Trans Mountain pipeline received $320 million in subsidies from the Canadian and Alberta governments in the first half of 2019, says a new report by an economic institute that analyzes environmental issues.
The money included $135.8 mi…
November 18, 2019 Reuters Canada’s Liberal government sent two ministers on Monday to meet with representatives of Canadian National Railway Ltd and its largest union, as already hard-hit shippers pleaded for government intervention to avert a strike planned for early on Tuesday.The threatened strike by 3,000 workers with Teamsters Canada comes as the country is grappling … Read more
VICTORIA — Oil and gas companies in British Columbia would be forced by law to reveal how gas prices are set in the province if new legislation introduced today is passed.
Jobs Minister Bruce Ralston says the Fuel Price Transparency Act would allow th…
VICTORIA — About three-quarters of the 40,000 litres of crude that spilled in a fiery tanker-truck crash near the B.C.-Alberta boundary burned after the accident, and crews are now working to clean up the remainder.
Alan Stebbing, an environmental eme…
BISMARCK, N.D. — A crude oil spill from the Keystone pipeline in eastern North Dakota has turned out to have affected almost 10 times the amount of land as first reported, a state regulator said Monday.
North Dakota environmental scientist Bill Suess …
November 18, 2019 Reuters Canadian National Railway said on Saturday that the Teamsters labor union had given it notice it plans to strike starting Nov. 19, following a stalemate in negotiations between the two parties.The company, the largest Canadian railroad operator, offered the Teamsters Canadian Rail Conference a binding arbitration, which the union declined, CN’s Chief … Read more
November 18, 2019 CNW CALGARY – Keyera Corp. (TSX:KEY) (“Keyera”) announced today that it recently received a right of first refusal notice (“ROFR”) from an affiliate of Kinder Morgan Canada Limited (“Kinder Morgan”) in respect of Kinder Morgan’s 50 percent interest in the Base Line Terminal (“the Terminal”). Keyera has elected not to exercise the ROFR and will continue to have … Read more
November 18, 20194:02 AM CNW HONG KONG — CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) today announced Mr. Wang Dongjin, an existing Non-executive Director of the Company, has been appointed as Chairman and Chairman of the Nomination Committee of the Company with effect from 18 November 2019. Mr. Wang no longer serves as Vice Chairman of … Read more
By Joe Easton Nov 17, 2019 (Bloomberg) Good morning. Saudi Aramco’s valuation fell short of Crown Prince Mohammed bin Salman’s original target, protests could be a theme of the week again and the U.K. prime minister declared a Brexit-related boost at home. Here’s what’s moving markets. Aramco Below Target The financial world spent the weekend with one … Read more
Codeco -Vanoco Engineering Inc. is pleased to announce the successful completion of drilling activities and the participation in the Eavor Technologies, Eavor-Lite™ Demonstration (geothermal) Project near Rocky Mountain House, Alberta. Codeco-Vanoco Engineering Inc. helped design and implement the drilling and completion programs for the unique geo-thermal application as well as provided on-site supervision during the … Read more
By Ewa Krukowska Nov 15, 2019 (Bloomberg) Why is the natural gas industry relaxed about the European Investment Bank’s decision to stop funding fossil fuel projects?On its face, the move on Thursday by the lending arm of the European Union will choke off access to hundreds of millions of dollars of funds for building new plants … Read more
By William Wilkes, Vanessa Dezem and Anna Shiryaevskaya Nov 18, 2019 (Bloomberg) It’s the most nettlesome problem in the quest to ditch fossil fuels: how can you get thousand-degree heat used in factory furnaces without pumping billions of tons of greenhouse gases into the atmosphere?Heat-intensive processes like steel making and oil refineries are the starting point … Read more
By Saket Sundria and Grant Smith Nov 18, 2019 (Bloomberg) Oil eased from the highest close in eight weeks as traders awaited clearer signs on whether the U.S. and China can reach a trade deal, and relieve pressure on the world economy.Futures slipped 0.9% after closing at the highest level since Sept. 23 on Friday. American … Read more
By Esteban Duarte (Bloomberg) Alberta finance officials are reaching out to institutional investors to counter a brewing backlash against the Canadian province’s oil-sands industry. The offensive comes as Sweden’s central bank said this week it was dumping Alberta’s bonds as it moves to divest from issuers with high carbon-dioxide emissions. “We are working to ensure that the facts … Read more
By Filipe Pacheco, Archana Narayanan and Netty Ismail Nov 17, 2019 (Bloomberg) Demand for what could be the world’s biggest initial public offering will probably be high, and the price range announced by Saudi Aramco shows there’s room for the shares to rally when they start trading, according to analysts.The company will sell shares at a … Read more
KAMLOOPS, B.C. — Two First Nations in British Columbia’s Interior that had been part of a court challenge against the Trans Mountain pipeline expansion have reversed course and signed deals with the Crown corporation.
The Upper Nicola Band and Stk’eml…
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
Is your fluid control system in need of new components you can depend on? Hy-Lok Canada is a leading supplier and manufacturer of fitting and valve products trusted by professionals in a wide range of industries across the country. With a focus on innovation and exceptional customer service, our team is here to provide you … Read more
Capital Now began operations in 2007 and hasn’t looked back. Accounts receivable financing is the purchasing of accounts receivables at a discount. This is the business Capital Now is in. Businesses need capital to operate and to grow — and sometimes they need it before clients can pay for completed work. Also known as factoring, … Read more
Join Industry expert Tracey Osmond on November 22 for an in-depth discussion on how the Carbon Tax will impact your business and what are the best practices for regulatory compliance. The session will discuss and review the implications of the Federal Fuel Charge that will come into effect in Alberta, January 1, 2020. With the repeal of the … Read more
Cody Battershill We’re a welcoming nation. Canadians – and perhaps especially Albertans – are hospitable, friendly and generous. You can pretty much bank on that. So, here’s a nod and a friendly greeting to TV comedian-turned-science reporter Bill Nye, who’s about to set off an another visit to Canada as he educates TV audiences about … Read more
OTTAWA — Canada’s $1.6-billion bailout package for Alberta’s battered oil industry is well underway but with little transparency about who is getting the money and for what.
Almost $1 billion of the package of loans, guarantees and government grants a…
November 15, 2019 Reuters U.S. energy firms this week reduced the number of oil rigs operating for a fourth week in a row as producers plan to slash spending for a second consecutive year in 2020 while they struggle to extract profits from the shale boom.Drillers cut 10 oil rigs in the week to Nov. 15, … Read more
Canada’s drilling rig count is down 2 actively drilling rigs according to data collected by Baker Hughes for the week ending November 15, 2019 From one week ago, Alberta rig counts decreased 6 to 90 and the Saskatchewan rig counts stayed at 31. Oil drilling decreased 9 to 88 and gas increased 3 to 46. … Read more
By Phil Serafino Nov 14, 2019 (Bloomberg) Good morning. Protests are under way in Hong Kong again, European stocks are stuck in neutral and the U.S. and China look to be close to a trade deal. Here’s what’s moving markets. Hong Kong There’s no sign of an end to the demonstrations that have shaken Hong Kong for more … Read more
By Elizabeth Low and Grant Smith Nov 15, 2019 (Bloomberg) Oil headed for a weekly decline as rising U.S. crude inventories and new production elsewhere signaled that global markets will remain comfortably supplied.Futures were little changed below $57 a barrel in New York, bringing the loss this week to 1%. U.S. government data showed stockpiles expanded … Read more
By Grant Smith Nov 15, 2019 (Bloomberg) Global oil markets are likely to remain “calm” next year as soaring production outside OPEC and high inventories keep consumers comfortably supplied, the International Energy Agency said. Supplies outside OPEC — driven by the U.S., Brazil, Norway and Guyana — will increase by 2.3 million barrels a day in 2020, almost … Read more
By Gerson Freitas Jr. Nov 15, 2019 (Bloomberg) Two decades ago, when coal ruled U.S. power generation, a Florida utility plowed some of its extra cash into a wind farm atop a desolate Oregon plateau. It was the start of an unimaginably successful bet. This year, that company — now named NextEra Energy Inc. — became … Read more
November 14, 2019 Globe Newswire CALGARY, Alberta, Nov. 14, 2019 (GLOBE NEWSWIRE) — Pengrowth Energy Corporation (“Pengrowth” or the “Company”) (TSX:PGF, OTCQX:PGHEF) today announced that, in connection with its previously announced proposed business combination with Cona Resources Ltd. (the “Purchaser”), a portfolio company of Waterous Energy Fund (“WEF”), by way of a plan of arrangement (the … Read more
November 14, 2019 CNW CALGARY – Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX and NYSE: CPG) is pleased to announce that it has entered into a definitive agreement (the “Agreement”) to sell certain associated gas infrastructure assets (the “Assets”) in Saskatchewan to Steel Reef Infrastructure Corp. (“Steel Reef” or the “Purchaser”) for total cash consideration of $500 … Read more
November 14, 2019 Reuters Montana lawmakers representing Native American tribal members called on the state’s congressional delegation and the U.S. State Department on Thursday to extend the public comment period for the environmental review of the Keystone XL pipeline, saying tribes were not properly consulted. “We are particularly concerned with the lack of formal consultation with … Read more
The Bennett Jones Governmental Affairs and Public Policy group are pleased to present the Fall 2019 edition of the Bennett Jones Economic Outlook. This report looks at global and Canadian growth and the key policy challenges for the Government of Canada in its new mandate, including: The need to focus on growth, stabilization and distribution in a period … Read more
EDMONTON — An established Edmonton charity that has supported philanthropy in the community for more than 65 years says the provincial government’s inquiry into so-called anti-Alberta activities is polarizing, undemocratic and unfounded.
In a 174-page…
By Kevin Orland Nov 14, 2019 (Bloomberg) Royal Dutch Shell Plc is reassuring investors, workers, and anyone else who will listen that it’s the international oil major that’s staying in Canada as others pull up stakes.Shell’s future in the country is largely as a natural gas producer and exporter focused on the $30 billion LNG Canada … Read more
November 14, 2019 | Source: Pan Orient Energy Corp. CALGARY, Alberta, Nov. 14, 2019 (GLOBE NEWSWIRE) — Pan Orient Energy Corp. (“Pan Orient” or the “Company”) (POE – TSXV) reports 2019 third quarter consolidated financial and operating results. Please note that all amounts are in Canadian dollars unless otherwise stated and BOPD refers to barrels of oil … Read more
Email Print Friendly Share November 14, 2019 17:00 ET | Source: NXT Energy Solutions Inc. CALGARY, Alberta, Nov. 14, 2019 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX:SFD; OTC QB:NSFDF) today announced the Company’s financial and operating results for the quarter ended September 30, 2019. All dollar amounts herein are in Canadian Dollars. Q3 Financial … Read more
November 14, 2019 Reuters The discount on Canadian heavy crude narrowed versus U.S. benchmark West Texas Intermediate (WTI) crude on Thursday to the smallest discount in nearly one month, since before the Keystone pipeline shut down last month.Western Canada Select (WCS) heavy blend crude for December delivery in Hardisty, Alberta, was trading at $16.50 per barrel … Read more
November 14, 2019 CNW CALGARY, Nov. 14, 2019 /CNW/ – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline“) and Topaz Energy Corp. (“Topaz“) are pleased to announce that they have completed the previously-announced transaction creating Topaz, a unique, private, hybrid royalty and infrastructure company with an $800 million capitalization and aggressive long-term growth plans. The transaction includes the purchase by Topaz of interests in certain revenue generating assets from … Read more
November 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 nine months ended September 30, 2019 and its preliminary outlook for 2020. Birchcliff’s unaudited interim condensed financial statements for the three and nine months ended September 30, 2019 and … Read more
CALGARY — Oil and gas producer Crescent Point Energy Corp. says it is selling Saskatchewan midstream assets for $500 million as part of a divestiture strategy adopted following a management shakeup last year.
The Calgary company says it has struck a d…
CALGARY — Oil and gas producer Crescent Point Energy Corp. says it is selling Saskatchewan midstream assets for $500 million as part of a divestiture strategy adopted following a management shakeup last year.
The Calgary company says it has struck a d…
By Lorcan Roche Kelly Nov 14, 2019 Mixed global growth picture, impeachment hearings signal battles ahead, and Hong Kong unrest continues. Here are some of the things people in markets are talking about today. Dodging recession Germany’s economy eked out 0.1% growth in the third quarter, narrowly averting recession against expectations. Growth for the euro area was just 0.2%, … Read more
By Elizabeth Low and Grant Smith Nov 14, 2019 (Bloomberg)Oil rose for a second day after an industry report pointed to a drop in U.S. inventories, and as OPEC said it sees potential for a “sharp” slowdown in American shale output next year.Futures added 1.1% in New York. Expectations that the U.S. government will report … Read more
November 14, 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/4224d14f-8e02-4647-a324-1aaf0e49def3 CALGARY, Alberta, Nov. 14, 2019 (GLOBE NEWSWIRE) — (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) is pleased to report its Q3 2019 financial and operational results, provide an update on its production … Read more
As Authorized by FTI Consulting Inc., as Monitor Carbon, Alberta, Fort Saskatchewan, Alberta and Richmond, British-Columbia Absolute Public Online Auction Bidding Ends Next Week! Featuring: 10 Atlas Copco TH60 Drills, Foremost HD24 Dual Rotary Drill, Heli-Portable Rigs, 3 Sonic Rigs, Assortment of Vehicles, Tools, & Much More! Lots being added DAILY! Go to Clubbid.com or Click Here: VIEW & BID … Read more
CALGARY—Texas is more than two times as attractive than Alberta for oil and gas investment, according to a new survey of petroleum-sector executives released today by the Fraser Institute, an independent, non-partisan, Canadian public policy think-tank. “Canada’s onerous and uncertain regulations, along with our dearth of pipeline capacity has created a competitiveness chasm between Canada … Read more
CALGARY — Premier Jason Kenney vowed Wednesday to keep fighting for Alberta’s slumping oil and gas sector as the industry unveiled another disappointing drilling forecast and criticism surfaced from an unlikely source, the Swedish central bank.
A sold…
CALGARY — Alberta Premier Jason Kenney says Bloc Quebecois Leader Yves-Francois Blanchet needs to “pick a lane.”
Kenney reacted in Calgary to comments the national separatist-party leader made after a meeting with Prime Minister Justin Trudeau in Otta…
November 13, 2019 Reuters TC Energy Corp told a majority of Keystone oil pipeline shippers that November volumes would be cut by nearly 39% after a leak in North Dakota spilled more than 9,000 barrels about two weeks ago, sources familiar with the matter said on Wednesday.TC Energy did not immediately respond to a request … Read more
November 13, 2019 19:00 ET | Source: Bellatrix Exploration Ltd. CALGARY, Alberta, Nov. 13, 2019 (GLOBE NEWSWIRE) — Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) announces that it has filed its interim financial statements and related management’s discussion and analysis for the three and nine months ended September 30, 2019 with the Canadian securities regulatory authorities on … Read more
November 13, 2019 | Source: Questerre Energy Corporation THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS CALGARY, Alberta, Nov. 13, 2019 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported a net profit of $1.33 million and production … Read more
November 13, 2019 | Source: Condor Petroleum Inc. CALGARY, Alberta, Nov. 13, 2019 (GLOBE NEWSWIRE) — Condor Petroleum Inc. (“Condor” or the “Company”) (TSX: CPI), a Canadian based oil and gas company focused on exploration and production activities in Turkey and Kazakhstan, is pleased to announce the release of its unaudited interim condensed consolidated financial statements … Read more
CALGARY — The possible transfer of hundreds of sour gas wells, pipelines and other facilities from an energy giant to a much smaller company has raised concerns about Alberta’s efforts to ensure taxpayers don’t get stuck with the cleanup bill.
“My fai…
OTTAWA — Canada’s promise to produce an inventory of its fossil fuel subsidies as part of a joint peer review with Argentina appears to be off schedule and may not deliver results until 2021, an environmental advocate says.
The peer review, which laun…
November 13, 2019 | Source: Freehold Royalties Ltd. CALGARY, Alberta, Nov. 13, 2019 (GLOBE NEWSWIRE) — Freehold Royalties Ltd. (Freehold) (TSX:FRU) announces third quarter results for the period ended September 30, 2019. Results At A Glance Three Months Ended Nine Months Ended September 30 September 30 FINANCIAL ($000s, except as noted) 2019 2018 Change 2019 2018 … Read more
November 13, 2019 Globe Newswire Zargon Oil & Gas Ltd. (“Zargon” or the “Company”) (TSX SYMBOL: ZAR). FINANCIAL AND OPERATING HIGHLIGHTS (THREE MONTHS ENDED SEPT 30, 2019) Funds flow from operating activities of $1.41 million compared to $2.17 million recorded in the prior quarter. The decrease from the prior quarter was primarily due to lower … Read more
November 13, 2019 CNW Jupiter Resources Ltd. and its affiliates (collectively, “Jupiter” or the “Company”) today reported financial and operating results for the third quarter of 2019. Jupiter’s third quarter financial results have been posted to the investor portal on the Company website. The Company will be hosting a conference call to discuss results on November 14, 2019. … Read more
LINTON, N.D. — Dakota Access pipeline officials argued Wednesday that the company’s proposal to double the line’s capacity does not increase the potential of a failure, a claim that has been long dismissed by opponents of the idea.
Texas-based Energy …
CAODC announces its 2020 Drilling Forecast: Projected 2020 wells drilled: 4,905—an increase of 9 from 2019 (4,896*) Projected 2020 operating days: 46,599—an increase of 88 from 2019 (46,511*) Rig fleet expected to decrease by 48 (545 drilling rigs to 497 drilling rigs) Total jobs expected = 22,313; flat year over year and a loss of … Read more
By Elizabeth Low and Grant Smith Nov 13, 2019 (Bloomberg) Oil fell for a third day amid concerns over the U.S.-China trade dispute, and signs of another increase in American crude stockpiles.Futures declined as much as 1.1% in New York. President Donald Trump’s speech on Tuesday disappointed investors after he gave little insight on how the impasse with Beijing … Read more
By Erik Larson Nov 13, 2019 (Bloomberg) When New York’s climate change lawsuit against Exxon Mobil went on trial last month in a Manhattan courtroom, the energy giant’s lead lawyer took great pains to emphasize that the state’s allegations weren’t really about climate change.After all, Theodore Wells said, Exxon was accused of hatching a cynical, arguably pedestrian scheme … Read more
By Lorcan Roche Kelly Nov 13, 2019 (Bloomberg) Wall Street awaits Powell testimony, public impeachment inquiry hearings begin, and another warning on oil demand. Here are some of the things people in markets are talking about today. Powell’s turn In his speech to the Economic Club of New York yesterday President Donald Trump renewed his assault on … Read more
By Kevin Orland Nov 13, 2019 (Bloomberg) Rockies LNG Partners, a group of Canadian natural gas drillers seeking new markets for their production, is considering building an export project on barges floating off the coast of British Columbia.While no decisions have been made, the group sees a floating liquefied natural gas facility as a less-expensive … Read more
November 12, 2019 | Source: Corridor Resources Inc. HALIFAX, Nova Scotia, Nov. 12, 2019 (GLOBE NEWSWIRE) — Corridor Resources Inc. (“Corridor”) announced today its third quarter financial results. The following table provides a summary of Corridor’s financial and operating results for the three and nine months ended September 30, 2019, with comparisons to the three and nine … Read more
November 12, 2019 | Source: Storm Resources Ltd. CALGARY, Alberta, Nov. 12, 2019 (GLOBE NEWSWIRE) — Storm Resources Ltd. (TSX:SRX) Storm has also filed its unaudited condensed interim consolidated financial statements as at September 30, 2019 and for the three and nine months then ended along with Management’s Discussion and Analysis (“MD&A”) for the same period. This … Read more
November 13, 2019 | Source: Prairie Provident Resources Inc. CALGARY, Alberta, Nov. 13, 2019 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to announce its operating and financial results for the three and nine months ended September 30, 2019. PPR’s consolidated financial statements (“Financial Statements”) and related Management’s Discussion and … Read more
November 13, 2019| Source: Petrus Resources Ltd. CALGARY, Alberta, Nov. 13, 2019 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to report financial and operating results as at and for the three and nine months ended September 30, 2019. Petrus is focused on generating free funds flow for debt repayment and … Read more
By Grant Smith Nov 12, 2019 (Bloomberg) Global oil demand will hit a plateau around 2030 as the use of more efficient cars and electric vehicles ends an expansion that dominated the past century, the International Energy Agency predicts.While the current growth rate of 1 million barrels a day — or about 1% — will hold for … Read more
Lukasz Skalka, founder Osprey Informatics, interviewed by Amazon Web Services (AWS) where he shares his thoughts on innovating within the oil & gas industry, managing a start-up in Canada and the one thing he can’t do without. A major shift is taking place in the oil and gas industry. Whereas it was hard to avoid … 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. Every few months, we like to take a look at expiring land … Read more
Trials for Rigless SCVF Remediation Event abstract Shell is actively working to reduce our liability for surface casing vent flow by seeking, developing and field testing new methods for SCVF remediation. This presentation will review the case for change, the methodology for SCVF abandonment, and the technology trials planned and executed in 2018 and 2019. … Read more
VANCOUVER — British Columbia Premier John Horgan says he plans to ask Prime Minister Justin Trudeau’s government to review the province’s gas and diesel industry after a report released Tuesday questions the competitiveness of the market.
Horgan calle…
Robert Tuttle and Lucia Kassai, Bloomberg News Repsol SA is looking as far away as Western Canada for oil for its European refineries amid dwindling supplies from Mexico and Venezuela. The Spanish oil company is considering using rail to transport as much as half-a-million barrels of heavy crude a month 1,911 miles (3,075 kilometres) from Alberta … Read more
November 12, 2019 The discount on Canadian heavy crude narrowed versus U.S. benchmark West Texas Intermediate (WTI) crude on Tuesday, after the 590,000-barrel-per-day Keystone pipeline returned to operation following a leak last month in North Dakota.Western Canada Select (WCS) heavy blend crude for December delivery in Hardisty, Alberta, was trading at $19 per barrel below … Read more
November 12, 201912:20 PM Reuters Imperial Oil Ltd is increasing shipments of Canadian crude by rail after the recent Keystone pipeline outage created more favorable economics, but is not looking to take on Alberta government contracts to move even more oil on trains, Chief Executive Rich Kruger said on Tuesday. The shutdown last month of … Read more
KANANASKIS, Alta. — Premier Jason Kenney is defending his idea that Alberta could pull out of the federal pension plan by saying times have changed.
“We’ve never faced a more hostile situation coming from the central government,” Kenney said Tuesday.
…
Market won’t recover if Berlin goes through with ill-designed climate package, company chief Kettwig warns by Bernd Radowitz in Berlin 11 November 2019 See Original Story HERE Thousands of workers will lose their jobs at Enercon and outsourced production companies closely aligned to the German wind turbine manufacturer as a collapse in the wind power expansion … Read more
TORONTO — The Office of the Superintendent of Bankruptcy says the number of Canadian insolvencies increased 8.4 per cent over the past 12 months to September.
The number of consumer insolvencies (bankruptcies and proposals) increased to 8.5 per cent c…
CALGARY — The outgoing CEO of Imperial Oil Ltd. says the $2.6-billion Aspen oilsands project in northern Alberta it announced a year ago — only to cancel it a few months later — will remain on the sidelines until the province completely ends its oil c…
November 12, 2019 Globe Newswire CALGARY, Nov. 12, 2019 (GLOBE NEWSWIRE) — (TSX: CJ) Cardinal Energy Ltd. (“Cardinal” or the “Company”) is pleased to announce its operating and financial results for the quarter ended September 30, 2019. The Company’s unaudited financial statements and management’s discussion and analysis for the quarter ended September 30, 2019, will be … Read more
November 12, 2019 Globe Newswire New CFO Well-Positioned to Take Company to the Next Level CALGARY, Alberta, Nov. 12, 2019 (GLOBE NEWSWIRE) — Pieridae Energy Limited (“Pieridae” or the “Company”) (TSXV: PEA) is pleased to announce the appointment of Mr. Rob Dargewitcz as Chief Financial Officer (“CFO”) of the Company. Mr. Dargewitcz began his new role … Read more
By Lorcan Roche Kelly Nov 12, 2019 (Bloomberg) Wall Street awaits Trump speech, Hong Kong on brink of “total breakdown,” and a bonus warning for bankers. Here are some of the things people in markets are talking about today. Trade update? Markets, as ever, are hungry for good news on trade with stocks dropping yesterday as concerns rose that the … Read more
By Grant Smith Nov 12, 2019 (Bloomberg) With their next meeting just weeks away, OPEC and its partners are showing no impetus for stronger action to support oil prices. But without intervention, some influential forecasters say a new supply glut could send the market crashing early next year.Crude prices, trading at about $62 a barrel in London, … Read more
November 11, 2019 | Source: NuVista Energy Ltd. CALGARY, Alberta, Nov. 11, 2019 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) is pleased to announce results for the three and nine months ended September 30, 2019 and provide an update on our future business plans. Measured and profitable growth continued as planned during the … Read more
November 12, 2019 | Source: Altura Energy Inc. CALGARY, Alberta, Nov. 12, 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 nine months ended September 30, 2019. The unaudited interim condensed consolidated financial statements and related management’s discussion and analysis (“MD&A”) … Read more
November 12, 2019 Source: Suncor Energy Inc Suncor accelerates digital transformation journey through strategic alliance with Microsoft Suncor has selected Microsoft as its strategic cloud provider, tapping into the full range of Microsoft’s cloud solutions to empower a connected and collaborative workforce, upgrade data centres, and increase analytics capabilities. Suncor will also collaborate with Microsoft … Read more
CALGARY — The owner of the Keystone pipeline says the line has returned to service after a breach that leaked an estimated 1.4 million litres of oil in northeastern North Dakota late last month.
TC Energy Corporation says the move follows the approval…
CALGARY — Ensign Energy Services Inc. cut its dividend in half due to what it said was prevailing industry conditions as it reported a third-quarter loss of $37.8 million.
The oilfield services company says it will pay a quarterly dividend of six cent…
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 Kevin Orland (Bloomberg) Enbridge Inc. is adding more pipeline capacity for Canadian oil producers this year and sees progress on the crucial C$9 billion ($6.8 billion) replacement and expansion of its Line 3 crude-oil pipeline.Regulators in the Minnesota are due to submit a revised environmental impact statement for the project by Dec. 9, and … Read more
RED DEER, Alta. — Alberta Premier Jason Kenney announced the creation of a panel that will examine ways to make his province more independent of Ottawa in a speech to the conservative Manning Centre on Saturday in which he rejected separatist argument…
Catapult’s Water Leadership Symposium – Friday, November 15 With an impressive lineup of researchers, economists, producers and innovators, Catapult Water Midstream is hosting its first Water Leadership Symposium this Friday. The inspiration came from CEO Michael Wood who wanted to encourage industry engagement while focusing on the environmental, social and governance aspects of managing produced … Read more
By Lorcan Roche Kelly Nov 11, 2019 (Bloomberg) Hong Kong violence escalates, Aramco predicts peak oil demand, and political fault lines exposed. Here are some of the things people in markets are talking about today. Clashes Hong Kong has seen one of its most violent days since June, with clashes between demonstrators and police intensifying after an officer … Read more
November 08, 2019 | Source: Precision Drilling Corporation CALGARY, Alberta, Nov. 08, 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 Regarding … Read more
November 10, 2019 Reuters Saudi Aramco is looking to sell up to 0.5% of the state oil giant to retail investors in its planned initial public offering (IPO), three sources familiar with the matter told Reuters.The Saudi oil group has not yet revealed the size of its planned IPO or what proportion of the company it … Read more
This article was originally published on blog.paradoxaccess.com By Charles Proulx One of the brilliant aspects of living in our day and age is that new, cutting-edge technologies aren’t reserved for only the super-rich or mega-powerful. They’re available to you. This is easy to see in the consumption of consumer goods: Laptops, cell phones, cars, smart watches… Access to these … Read more
Access to real-time downhole data has become a focus for producers looking to get more out of their stimulation and completion strategies. Operators realize you cannot optimize what is not being monitored. STEP-IQ™ real-time data services provide reliable, real-time, downhole measurements allowing operators to evaluate critical job parameters and make instant decisions to improve treatment … Read more
Find out what will drive prices in natural gas, crude, and natural gas liquids in 2020. During this session, Bernadette Johnson, Enverus’ VP of Market Intelligence, will provide an outlook for 2020 based on what’s affecting our world right now. Topics include sanctions, trade wars, global economic concerns, US production growth and exports, changing technologies, the growth … Read more
Ashley Robertson, ALS, P.Eng, has joined the Challenger team as our Vice President, Edmonton Operations. Ashley is a land surveyor with over 18 years of professional survey and engineering experience. Ashley takes over day-to-day leadership of our Edmonton operations from Tim Harding who is transitioning to a support and training role as he prepares for … Read more
By Matthew Martin and Javier Blas Nov 10, 2019 (Bloomberg) Global oil demand may peak within the next 20 years, according to an assessment included in the prospectus for Saudi Aramco’s initial public offering, suggesting views are slowly changing in the kingdom where officials long dismissed the notion as overblown.Rather than providing its own assessment, … Read more
EDMONTON — Alberta is adjusting its rules on oil production limits to give companies incentive to drill more conventional wells.
Energy Minister Sonya Savage says that starting immediately any oil produced from a new well will not be subject to the li…
By Nathaniel Bullard (Bloomberg Opinion) –The Organization of the Petroleum Exporting Countries this week published its annual World Oil Outlook, a reliably huge and dense examination of the future of the cartel’s main product, as well as the markets that will drive its growth and compete against it. Bloomberg Opinion’s Liam Denning referred to this year’s … Read more
November 8, 2019 Globe Newswire CALGARY, Alberta, Nov. 08, 2019 (GLOBE NEWSWIRE) — Toscana Energy Income Corporation (“Toscana” or the “Corporation”) (TSX: TEI) announces financial and operating results for the third quarter ended September 30, 2019. Financial and operating results: This news release summarizes information contained in the Condensed Consolidated Interim Financial Statements (unaudited) and Management’s Discussion … Read more
November 8, 2019 Globe Newswire CALGARY, Alberta, Nov. 08, 2019 (GLOBE NEWSWIRE) — Painted Pony Energy Ltd. (“Painted Pony” or the “Corporation“) (TSX: PONY) is pleased to announce the closing of the previously announced asset sale (the “Asset Sale”) of a 75% working interest in 11,280 gross acres (8,460 net acres) in the northeast British … Read more
by Natural Gas Now Guest Blogger Shocker! Getting rid of an old wind turbine is proving to be quite an issue and a high expense, showing renewables are neither free nor especially green. In Minnesota, Xcel Energy estimates conservatively that it will cost $532,000 (in 2019 dollars) to decommission each of its wind turbines—a total cost of $71 million … Read more
Calgary-based oil and gas producer Perpetual Energy Inc. says it has cut 25 per cent of its workforce in an effort to rein in costs in response to lower commodity prices.
The gas-weighted Calgary company says it is also cutting compensation for its re…
Canada’s drilling rig count is down 2 actively drilling rigs according to data collected by Baker Hughes for the week ending November 8, 2019 From one week ago, Alberta rig counts decreased 3 to 96 and the Saskatchewan rig counts increased 3 to 31. Oil drilling increased 4 to 97 and gas decreased 6 to … Read more
November 8, 2019 Reuters TransCanada workers inspect Keystone Pipeline after leak detected in South Dakota The massive Keystone pipeline has been transporting oil from Canada to the United States at a higher-than-standard level of pressure since it started operating in 2010, thanks to a special permit granted by U.S. regulators on the condition operator … Read more
November 8, 2019 Reuters U.S. energy firms this week reduced the number of oil rigs operating for a third week in a row as producers cut spending on new drilling, even though most are still increasing output as they benefit from efficiency gains.Drillers cut seven oil rigs in the week to Nov. 8, bringing the total … Read more
November 8, 2019 Reuters The discount on Canadian heavy crude narrowed versus U.S. benchmark West Texas Intermediate (WTI) crude on Friday, as the market awaited a possible re-start of the 590,000-barrel-per-day Keystone pipeline, an important artery for Canadian heavy crude, imported by U.S. refiners, particularly in the Midwest.Western Canada Select (WCS) heavy blend crude for December … Read more
Today, the Alberta Government announced it will remove production limits on new conventional oil wells effective immediately. This measure, along with curtailment relief for production shipped by new rail capacity, is an important step forward in improving overall activity levels for drilling and well servicing contractors. “Today’s announcement is excellent news for the industry,” says … Read more
By Erik Larson Nov 7, 2019, (Bloomberg) The New York attorney general’s office dropped its claim that Exxon Mobil Corp. intentionally misled investors about how it accounts for the financial risks of climate change, significantly diminishing the state’s case in the last minutes of a high-stakes securities fraud trial.Assistant Attorney General Jonathan Zweig caused a … Read more
By Ann Koh and Grant Smith Nov 8, 2019 (Bloomberg) Oil fell as traders awaited more concrete signs that the U.S. and China are resolving their trade dispute, and amid concerns that OPEC and its partners won’t deepen output curbs to prevent a glut.Futures lost as much as 1.9% in New York. The U.S. and China … Read more
By Lorcan Roche Kelly Nov 8, 2019 (Bloomberg) U.S. confirms phase one trade deal would include tariff rollback, doubts increase over Aramco’s valuation, and markets drop their defensives. Here are some of the things people in markets are talking about today. Yes, but White House economic adviser Larry Kudlow confirmed to Bloomberg that tariff agreements and concessions would … Read more
By Robert Tuttle Nov 7, 2019 (Bloomberg) Alberta’s delay in announcing the sale of its crude-by-rail contracts is hindering oil exports just when a pipeline shutdown has made train shipments vital.Oil producers are leaning on rail capacity now that TC Energy Corp. shut its 590,000 barrel-a-day Keystone pipeline due to a leak in North Dakota. … Read more
November 07, 2019 | Source: Total Energy Services Inc. CALGARY, Alberta, Nov. 07, 2019 (GLOBE NEWSWIRE) — Total Energy Services Inc. (“Total Energy” or the “Company”) (TSX:TOT) announces its consolidated financial results for the three and nine months ended September 30, 2019. Financial Highlights ($000’s except per share data) Three Months Ended September 30 Nine Months … Read more
November 07, 2019 | Source: High Arctic Energy Services Inc. NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW CALGARY, Alberta, Nov. 07, 2019 (GLOBE NEWSWIRE) — High Arctic Energy Services Inc. (TSX: HWO) – “High … Read more
November 08, 2019| Source: Kelt Exploration Ltd CALGARY, Alberta, Nov. 08, 2019 (GLOBE NEWSWIRE) — Kelt Exploration Ltd. (TSX:KEL) (“Kelt” or the “Company”) has released its financial and operating results for the three and nine months ended September 30, 2019. The Company’s financial results are summarized as follows: FINANCIAL HIGHLIGHTS Three months ended September 30 Nine months … Read more
November 7, 2019 Globe Newswire CALGARY, Alberta, Nov. 07, 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 nine months ended September 30, 2019. The Company’s Management’s Discussion and Analysis (“MD&A”) and Condensed Consolidated Interim Financial Statements are available … Read more
November 7, 2019 Globe Newswire CALGARY, Alberta, Nov. 07, 2019 (GLOBE NEWSWIRE) — Chinook Energy Inc. (“our”, “we”, or “us”) (TSX: CKE) announces that we have initiated a formal process to identify, examine and consider a range of strategic alternatives available to us with a view to enhancing shareholder value. We are also announcing our operating … Read more
CALGARY — Enbridge Inc. says it earned $949 million in the third quarter, up from a loss of $90 million in the same quarter last year caused by a number of one-time charges.
The Calgary-based company says adjusted earnings worked out to $1.12 billion,…
REGINA — The Saskatchewan government says a plan to build a natural gas power station in Moose Jaw is moving ahead.
Dustin Duncan, the minister responsible for SaskPower, said in July he was pumping the brakes on the Crown corporation’s plan due to ne…
November 7, 2019 Reuters TC Energy Corp estimates the Keystone oil pipeline can be partially restarted between Sunday and Tuesday, pending regulatory approval, after a more than 9,000-barrel leak in rural North Dakota, shippers said on Thursday.The 590,000-barrel-per-day Keystone system is an important artery for Canadian heavy crude, imported by U.S. refiners, particularly in the … Read more
Calgary, Alberta–(Newsfile Corp. – November 7, 2019) – Trican Well Service Ltd. (TSX: TCW) (“Trican” or the “Company”) is pleased to announce that it has entered into a definitive agreement with an investor group led by Green Energy Services Inc and in partnership with Uujo Developments LP. (a Doig River First Nation Company), (collectively, the … Read more
CALGARY — Encana Corp. says its new head office will be in Denver following a reorganization that will include changing its name to Ovintiv.
The Calgary-based company didn’t say which city would be its home base when it announced last week it would es…
November 07, 2019 05:00 ET | Source: Canadian Natural Resources Limited CALGARY, Alberta , Nov. 07, 2019 (GLOBE NEWSWIRE) — Commenting on the Company’s third quarter 2019 results, Steve Laut, Executive Vice-Chairman of Canadian Natural stated, “Canadian Natural’s third quarter results are an excellent example of how the Company’s effective and efficient operations can drive value creation … Read more
November 07, 2019 | Source: InPlay Oil Corp. CALGARY, Alberta, Nov. 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 nine months ended September 30, 2019. InPlay’s condensed unaudited interim financial statements and notes, as well as … Read more
By Lorcan Roche Kelly and Sid Verma Nov 7, 2019 (Bloomberg) China and U.S. agree to phased tariff rollback, the latest on impeachment, and decision day at the Bank of England. Here are some of the things people in markets are talking about today. Undoing A Chinese Ministry of Commerce spokesman said that both sides in the … Read more
By Grant Smith and Salma El Wardany Nov 6, 2019 (Bloomberg) The biggest producers in OPEC+ aren’t pushing for deeper oil-supply cuts when the group meets next month, according to delegates across the coalition.The Organization of Petroleum Exporting Countries and its allies are more likely to stick to their current output targets and encourage members … Read more
By Grant Smith Nov 7, 2019 (Bloomberg) Oil jumped as China and the U.S. made progress in resolving the trade dispute that has weighed on global markets this year, offsetting signs that OPEC and its partners won’t make deeper cuts to supply. Brent crude rose as much as 1.6% in London, reversing much of Wednesday’s … Read more
November 6, 2019 Globe Newswire CALGARY, Alberta, Nov. 06, 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 nine months ended September 30, 2019. FINANCIAL AND OPERATING HIGHLIGHTS Three Months Ended September 30 Nine Months Ended September 30 … Read more
November 6, 20194:19 PM Globe Newswire CALGARY, Alberta, Nov. 06, 2019 (GLOBE NEWSWIRE) — Delphi Energy Corp. (“Delphi” or the “Company”) is pleased to announce its financial and operational results for the quarter ended September 30, 2019. THIRD QUARTER 2019 HIGHLIGHTS Average production in the quarter of 8,386 barrels of oil equivalent per day (“boe/d”) was down twelve percent from … Read more
November 6, 2019 Globe Newswire CALGARY, Alberta, Nov. 06, 2019 (GLOBE NEWSWIRE) — Pengrowth Energy Corporation (“Pengrowth” or the “Company“) (TSX:PGF, OTCQX:PGHEF), today reported its results for the three and nine months ended September 30, 2019. Unless otherwise indicated, financial figures are expressed in Canadian dollars. “Negotiations with our lenders on an amendment and extension of … Read more
November 6, 20194:00 PM CNW CALGARY, Nov. 6, 2019 /CNW/ – Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) (“Bonterra” or the “Company”) today announces its operating and financial results as at and for the three and nine months ended September 30, 2019. The related unaudited condensed financial statements and notes, as well as management’s discussion and analysis (“MD&A”), are available … Read more
November 6, 2019 CNW CALGARY, Nov. 6, 2019 /CNW/ – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) is pleased to release financial and operating results for the third quarter of 2019. HIGHLIGHTS Record average Q3 oil, condensate and NGL production of 55,833 bpd, up 23% from the same quarter in 2018 and 7% from Q2 2019. Average September … Read more
November 6, 2019 Newsfile Calgary, Alberta–(Newsfile Corp. – November 6, 2019) – Tamarack Valley Energy Ltd. (TSX: TVE) (“Tamarack” or the “Company”) is pleased to announce its financial and operating results for the three and nine months ended September 30, 2019. Selected financial and operational information is outlined below and should be read in conjunction with … Read more
November 6, 2019 Globe Newswire CALGARY, Alberta , Nov. 06, 2019 (GLOBE NEWSWIRE) — Peyto Exploration & Development Corp. (“Peyto” or the “Company”) is pleased to present its operating and financial results for the third quarter of the 2019 fiscal year. A 64% Operating Margin(1) and a 6% Profit Margin(2) in the quarter, delivered a 4% return on … Read more
November 6, 2019 CNW CALGARY, Nov. 6, 2019 /CNW/ – Gear Energy Ltd. (“Gear” or the “Company”) (TSX:GXE) is pleased to provide the following third quarter operating update to shareholders. Gear’s Interim Consolidated Financial Statements and related Management’s Discussion and Analysis (“MD&A”) for the period ended September 30, 2019 are available for review on Gear’s website at www.gearenergy.com and on www.sedar.com. Financial Summary … Read more
November 6, 20193:02 PM PR Newswire CALGARY, Nov. 6, 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 nine months ended September 30, 2019. The associated management’s discussion and analysis (“MD&A”) and unaudited interim financial statements as at and for the … Read more
The discount on Canadian heavy crude widened versus U.S. benchmark West Texas Intermediate (WTI) crude on Wednesday, as traders continued to factor in oil transportation constraints after the Keystone pipeline’s shutdown. Western Canada Select (WCS) heavy blend crude for December delivery in Hardisty, Alberta, was trading at $22.35 per barrel below WTI, according to Net … Read more
November 6, 20199:20 AM Reuters Canadian pipeline operator TC Energy Corp has declared force majeure after a spill forced its Keystone oil pipeline to shut down last week, the second consecutive month it has made the declaration, sources said. TC told shippers that the shutdown means that it cannot carry out 30% of their normal November … Read more
CALGARY — Alberta’s Orphan Well Association is warning that the receivership of junior producer Houston Oil & Gas Ltd. could add more than 1,400 wells to its inventory of orphaned petroleum assets.
The organization that steps in when operators of oil …
November 6, 2019 Globe Newswire Key Development: Transformational Change Following Close of Shell Alberta Foothills Assets Acquisition Highlights: Completed the transformational Shell asset acquisition which is immediately accretive to the Company Shell assets give Pieridae majority of the gas resource to supply Train 1 (or facility) at Goldboro LNG facility Third quarter production averaged 14,657 barrels … Read more
WINNIPEG — Manitoba Premier Brian Pallister says the prime minister must help unify the country by ensuring the Trans Mountain pipeline expansion is built so that western oil can get coastal access to overseas markets.
The pipeline, the economy and cr…
November 6, 2019 Reuters Crews work on repairing Keystone Pipeline A big oil spill from the Keystone Pipeline in North Dakota last week has hardened opposition to the controversial Keystone XL expansion among landowners along its route, who say they hope to use the incident to help block or stall the project in court.Operator TC Energy … Read more
Western Engineered Containment (WEC) is in discussions with a client who is trying to resolve leaks in a series of above ground lined tanks. The current lining method involves fabricating a polyethylene sheet liner into the cylindrical shape of the tank. As a result, effective seams at the junction of the wall and the … Read more
By Lorcan Roche Kelly Nov 6, 2019 (Bloomberg) Trump’s impeachment defense takes a knock, euro-area economy stays near stagnation, and some big corporate news. Here are some of the things people in markets are talking about today. Quid pro quo Transcripts of Gordon Sondland’s testimony to House impeachment panels undermine the assertions by President Donald Trump and his allies … Read more
By Kevin Crowley and Michael Bellusci Nov 6, 2019 (Bloomberg) The days of relentless production growth from U.S. shale oil fields are ending, potentially aiding OPEC’s years-long effort to drain a worldwide supply glut, according to industry pioneers Scott Sheffield and Mark Papa.Investor calls for shale producers to shut down rigs and stop burning through cash are … Read more
By James Thornhill Nov 5, 2019 (Bloomberg) India, the U.S and China saw some of the biggest rises in greenhouse gas emissions last year due to booming energy consumption dominated by fossil fuels, putting global climate goals at risk, according to a new report.Emissions jumped 6.3% in India, rose 3.4% in the U.S. and 2.3% … Read more
By Ann Koh and Grant Smith Nov 6, 2019, 3:33 AM (Bloomberg) Oil retreated from a six-week high as signs of another increase in U.S. crude reaffirmed the prevailing view that global markets are comfortably supplied. Futures lost as much as 0.8% in New York after rising 5.6% over the past three sessions. The American … Read more
By Theophilos Argitis Nov 6, 2019 (Bloomberg) Justin Trudeau is beginning his second term in a precarious position when it comes to his economic agenda.Only 22% of Canadians showed strong confidence in the prime minister’s ability to create conditions for economic prosperity, according to a poll by Nanos Research Group for Bloomberg News. About 30% … Read more
By Robert Tuttle Nov 5, 2019 (Bloomberg) The leader of a Canadian indigenous group seeking a stake in the government-owned Trans Mountain Pipeline said First Nations organizations should work together on a single proposal to take over the conduit, but doing so won’t be easy. So far, at least three different groups in British Columbia, … Read more
November 05, 2019 | Source: ClearStream Energy Services Inc CALGARY, Alberta, Nov. 05, 2019 (GLOBE NEWSWIRE) — ClearStream Energy Services Inc. (“ClearStream” or the “Company”) (TSX: CSM) today announced its results for the three and nine months ended September 30, 2019. All amounts are in Canadian dollars and expressed in thousands of dollars unless otherwise noted. … Read more
November 05, 2019 | Source: Pulse Seismic Inc. CALGARY, Alberta, Nov. 05, 2019 (GLOBE NEWSWIRE) — Pulse Seismic Inc. (TSX:PSD) (OTCQX:PLSDF) (“Pulse” or “the Company”) is pleased to report its financial and operating results for the three and nine months ended September 30, 2019. The unaudited condensed consolidated interim financial statements, accompanying notes and MD&A are … Read more
November 5, 2019 CNW CALGARY, Nov. 5, 2019 /CNW/ – Keyera Corp. (“Keyera”) announced its 2019 third quarter financial results today, the highlights of which are included in this news release. The entire news release can be viewed by visiting Keyera’s website at www.keyera.com, or, to view the MD&A and financial statements, visit either Keyera’s website or Keyera’s filings … Read more
November 5, 2019 Newsfile Calgary, Alberta–(Newsfile Corp. – November 5, 2019) – Bonavista Energy Corporation (TSX: BNP) (“Bonavista”) is pleased to report to shareholders its financial and operating results for the three and nine months ended September 30, 2019. In the third quarter of 2019, we generated adjusted funds flow of $34.6 million and successfully … Read more
November 5, 2019 Globe Newswire CALGARY, Alberta, Nov. 05, 2019 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to report its third quarter operational and financial results. Third Quarter and Operational Highlights: Adjusted Funds Flow: $43.9 million ($0.08/share) and $133.3 million ($0.26/share) for the third quarter and first nine months of … Read more
November 5, 2019 Newsfile Calgary, Alberta–(Newsfile Corp. – November 5, 2019) – Pine Cliff Energy Ltd. (TSX: PNE) (“Pine Cliff” or the “Company“) is pleased to announce the filing of its third 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 … Read more
November 5, 2019 TC Energy Corp has plugged its Keystone crude oil pipeline in North Dakota, allowing workers to excavate a portion of the pipeline that leaked last week and determine the cause of the spill, a state official said on Tuesday. Work will begin this week to access the precise point of the pipeline … Read more
Author: Nancy Abrams G&B Portable Fabric Building’s Zero Impact Solutions As the Fabric Building and Tensile Membrane Structures Industry is changing, G&B wants to focus on the Environment and what we do to help Zero Impact Initiatives for Natural Resource Management and Extraction Sites. Our last few articles have focused on why Fabric Buildings are … 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. Typically, when a company sells off an asset, the license will change … Read more
User feedback and constant development are critical for any Software as a Service (SaaS) company. Since launch, the Workaware suite of software has evolved though the direct collaboration with our clients in the office, and in the field to create a unified user experience they need and want to use everyday. Think of it as … Read more
Osprey Reach enables you to manage and access all your assets remotely through a single application With Osprey Reach, companies can increase productivity through virtual asset inspections, improve HSE compliance with automated leak and safety monitoring, as well as strengthen security and accountability through proactive activity detection and exception-based alerting at remote sites. FIND OUT … Read more
Dieselex Gold is a precision blended diesel fuel engineered to improve performance through restoring lost horsepower, improving fuel efficiency and protecting today’s sophisticated fuel systems. With Dieselex Gold, customers experience faster engine starts, improved fuel efficiency, extended storage life, reduced wear, enhanced fuel system life and controlled moisture accumulation. With reduced maintenance, fewer repairs and … Read more
Author: Morgan Fraser The GHS system consists of ten symbols, or pictograms, giving us a quick and easy way to recognize hazards associated with certain substances. Think you know them all? Quiz yourself below!
Interpreting In-Line Inspection Data to Help Eliminate Unnecessary Digs In-line inspection (ILI) tools are a rapidly evolving technology for ensuring the integrity of pipelines that are susceptible to crack anomalies. Several vendors offer ultrasonic crack-detection (UTCD) tools that can be used to detect and size cracks in liquid pipelines, while electromagnetic acoustic transducer (EMAT) tools … Read more
Edge Liability Risk Management (“Edge”) has developed an innovative solution to complete M&A transactions that may have been previously rejected due to environmental liability or Licensee Liability Rating and Liability Management Rating (“LLR/LMR”) concerns. Until now, Edge has focused its efforts on the sell side to help sellers realize higher sales multiples on properties and … Read more
CALGARY — A new refinery northeast of Edmonton is facing more delays and won’t begin processing oilsands bitumen as designed until early next year.
Construction was completed on the $9.5-billion Sturgeon Refinery in the fall of 2017 and it began produ…
Reference: www.chemco.com/2019/10/30/chemco-officially-launches-railway-civil-construction-and-maintenance-division Nisku, Alberta, All Aboard! Chemco is proud to announce the launch of Chemco Railway Civil Construction and Maintenance. Also known as Chemco Rail, this new division will provide the railway industry with the construction disciplines needed to successfully build and maintain railway projects and facilities across Canada. Based out of our corporate office … Read more
VANCOUVER — A British Columbia First Nation and three environmental groups hope to appeal a Federal Court of Appeal decision that limited their ability to challenge the Trans Mountain pipeline expansion in court.
The Tsleil-Waututh Nation, Ecojustice,…
CALGARY — The name Encana Corp. immediately brings to mind two things: energy and Canada.
Ovintiv, with which the oil and gas producer plans to rechristen itself once it moves its headquarters to the United States next year, offers no hint of what the…
A training video for the onshore drilling industry detailing lessons learned from the January 22, 2018, blowout and fire at the Pryor Trust gas well in Pittsburg County, Oklahoma, that fatally injured five workers.
November 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 nine months ended September 30, 2019. In addition, IPC is pleased to announce that it has sought approval from the Toronto Stock Exchange … Read more
November 4, 2019 CALGARY, Nov. 4, 2019 /CNW/ – Journey Energy Inc. (JOY – TSX) (“Journey” or the “Company“) announces its financial and operating results for the three and nine month periods ending September 30, 2019. The complete set of financial statements and management discussion and analysis for the periods ended September 30, 2019 and 2018 are posted on www.sedar.com and on … Read more
November 4, 2019 CALGARY, Nov. 4, 2019 /CNW/ – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) announces its operating and financial results for the quarter ended September 30, 2019. Surge’s large original oil in place (“OOIPi“), light and medium gravity crude oil asset base continues to outperform management’s expectations. Surge’s Q3/19 average production … Read more
November 4, 2019 CNW CALGARY, Nov. 4, 2019 /CNW/ – Jupiter Resources Ltd. and its affiliates (collectively, “Jupiter” or the “Company”) have received an additional extension to the maturity date, associated with the Company’s existing senior secured reserve-based revolving credit facility (the “RBL Facility”), until December 6, 2019. The commitments under the RBL Facility will be limited to a … Read more
CALGARY — Shares in Parkland Fuel Corp., Canada’s largest independent fuel marketer, rose Tuesday after it increased its 2019 guidance on the back of third-quarter adjusted earnings that beat analyst expectations.
The Calgary-based company says it now…
By Lorcan Roche Kelly Nov 5, 2019 (Bloomberg) Trade optimism lifted by Xi, OPEC sees its market share falling for years, and Wall Street gets a reprieve. Here are some of the things people in markets are talking about today. Opening doors President Xi Jinping reiterated China’s commitment to the global trading order in a keynote speech … Read more
By Kelly Gilblom Nov 5, 2019 (Bloomberg) Royal Dutch Shell Plc has agreed to buy French offshore wind developer Eolfi SA, continuing its expansion into renewable power.The Anglo-Dutch oil major is boosting spending on low-carbon energy as it faces pressure to address the risks climate change poses to its business. Shell’s biggest renewable bets so … Read more
By Alex Longley Nov 5, 2019 (Bloomberg) Oil rose for a third day, buoyed by signs of progress in the prolonged U.S.-China trade dispute, despite expectations for expanding American crude stockpiles. Futures climbed as much as 1% in New York. China is reviewing locations in the U.S. where President Xi Jinping would be willing to … Read more
By Erik Hertzberg Nov 4, 2019 (Bloomberg) Canadian consumer sentiment worsened through October amid rising uncertainty about the economic outlook, and as westerners come to grips with an election that handed a second term to Justin Trudeau’s Liberals, a result perceived as potentially bad for the energy industry. The Bloomberg Nanos Canadian Confidence Index — a composite … Read more
By Brian Eckhouse and Christopher Martin Nov 4, 2019 (Bloomberg) Canada Pension Plan Investment Board agreed to buy Pattern Energy Group Inc. in a deal valued at $2.6 billion as big investors chase wind and solar farms that had lost luster on Wall Street.The Toronto-based pension giant will pay $26.75 a share for Pattern, a … Read more
KEY FINDINGS The global blockchain in energy market is projected to record a CAGR of 59. 49% during the projected period. The rise in the investments by venture capitalists, and the fast-growing end-users like oil and gas, are the factors pushing the growth of the market. November 05, 2019 | Source: ReportLinker FR New York, Nov. 05, … Read more
November 5, 2019 Maureen McCall What’s the breakthrough needed for Canadian Oil and Gas support and development? Alberta Energy Minister Sonia Savage thinks the answer lies within solid support for Canada’s Indigenous Peoples. Interest was high at the Energy and Natural Resources Summit hosted by the National Coalition of Chiefs yesterday at the Grey Eagle … Read more
November 4, 2019 Reuters The precise source of a leak on TC Energy Corp’s Keystone oil pipeline in North Dakota has not yet been identified, a spokesman for the U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA) said on Monday. There is no estimated timeline for restart of the pipeline and the company is continuing excavation … Read more
REGINA — The Saskatchewan government says it has been granted leave to intervene in an appeal over construction of the Trans Mountain pipeline expansion.
The province says it is intervening in support of the federal government by arguing that the expa…
November 4, 2019 Globe Newswire Gibson Energy Inc. (“Gibson” or the “Company”) (TSX: GEI), announced today its financial and operating results for the three and nine months ended September 30, 2019. “Gibson continued to deliver strong, consistent operational and financial results in the third quarter, with the continued growth of long-term, high-quality cash flows from our … Read more
November 4, 2019 Reuters The discount on Canadian heavy crude widened versus U.S. benchmark West Texas Intermediate (WTI) crude on Monday, hitting a fresh 11-month high, as the shutdown last week of the Keystone oil pipeline made it harder to ship oil.Western Canada Select (WCS) heavy blend crude for December delivery in Hardisty, Alberta, was trading … Read more
TORONTO — Investment firms owned by three of Canada’s biggest banks have each agreed to pay a half-million-dollar penalty to settle charges of improperly trading shares.
The Investment Industry Regulatory Organization of Canada or IIROC says a hearing…
CALGARY — Prices for Western Canadian Select oil continued to soften on Monday as TC Energy Corp. reported recovering about half the crude that leaked from its Keystone pipeline in North Dakota last week.
Spokesman Terry Cuhna says about 4,300 barrels…
November 4, 2019 CALGARY, Nov. 4, 2019 /CNW/ – OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) is pleased to announce its financial and operational results for the three and nine months ended September 30, 2019. All figures are in Canadian dollars unless otherwise stated. Michael Faust, Interim President and … Read more
November 4, 2019 Globe Newswire Delphi Energy Corp. (“Delphi” or the “Company”) announces that the semi-annual borrowing base redetermination of its senior credit facility has been finalized. Effective on the earlier of the closing date for the Recapitalization Transaction (as defined below) and November 29, 2019, and conditional upon completion of the Recapitalization Transaction, the borrowing base of the … Read more
By Archana Narayanan, Javier Blas and Matthew Martin Nov 3, 2019 (Bloomberg) Saudi Aramco may be worth as little as $1.5 trillion or even less, well below the target set by the kingdom, according to research sent on Sunday to potential investors by the banks involved in the company’s initial public offering.The research, according to multiple … Read more
By Lorcan Roche Kelly Nov 4, 2019 (Bloomberg) Aramco (finally) launches IPO, progress made on trade talks, and a raft of corporate news. Here are some of the things people in markets are talking about today. At last Saudi Aramco published an intention to float document yesterday, putting the company on track to list it shares on … Read more
By Ann Koh and Alex Longley Nov 4, 2019 (Bloomberg) Oil held its biggest gain in almost seven weeks after improved U.S. and Chinese economic data aided the demand outlook and Saudi Aramco said it would go ahead with its long-awaited initial public offering.Futures rose 0.8% in New York after jumping on Friday. U.S. Commerce … Read more
By Sveinung Sleire Nov 4, 2019 (Bloomberg) Norway’s central bank governor warned that the political debate surrounding the country’s oil industry’s future may be weighing on the krone.Norges Bank has been taken aback by the weakness of the currency, which plunged to record lows against the euro last month despite four rate hikes since September … Read more
By Laura Hurst Nov 4, 2019 (Bloomberg) OPEC+ oil producers have slashed output by more than planned for months in an effort to tackle a looming oversupply. Yet a handful of countries continue to make that job harder.Iraq, Nigeria and Russia — OPEC’s largest ally — pumped above their quota in October, putting the onus … Read more
By Michael Bellusci (Bloomberg) The odds of H&R Real Estate Investment Trust selling a stake in its wholly-owned iconic Calgary tower has dropped after Encana Corp. announced plans to move its headquarters to the U.S, according to BMO Capital Markets. ‘The Bow’ tower, located in Canada’s corporate energy hub in downtown Calgary, houses the oil … Read more
CALGARY — International trade experts say it’s a pipe dream to think the landlocked oil-producing western provinces would have an easier time getting their product to international markets if they were to split from Canada.
“Wexit” — an apparent play …
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 Morgan Fraser We noticed options for dry erase products have been pretty limited to standard mount to wall whiteboards, giving us the opportunity to develop some new, more customizable, and affordable options. This product gives us the flexibility to make a range of shapes and sizes, print directly on the product and peel and … Read more
November 01, 2019 | Source: Husky Energy Inc. CALGARY, Alberta, Nov. 01, 2019 (GLOBE NEWSWIRE) — Husky Energy (TSX:HSE) has closed the sale of its 12,000 barrel-per-day Prince George Refinery to Tidewater Midstream and Infrastructure for $215 million in cash, plus a closing adjustment of approximately $53.5 million. Proceeds of the sale will be used in accordance with … Read more
Energy liability cases like Redwater and Sequoia have changed the way Canadian E&P companies access capital, evaluate deals, and manage asset retirement obligations (ARO), leaving industry struggling to keep up with changing rules and approaches. XI Technologies Inc., creators of the WCSB’s first ARO management software, will host an executive roundtable on Thursday, November 14, … Read more
After a positive federal election result for the expansion of the Trans Mountain pipeline, Project Reconciliation is increasing efforts to buy the project. The Indigenous-led organization wants to buy a majority interest in TMX. If successful, more than 300 First Nations and Métis communities across Western Canada would be eligible for a stake. “Almost 70 … Read more
Reuters Cleanup crews in Walsh County, North Dakota, are working toward plugging the Keystone pipeline after a more than 9,000-barrel oil leak this week, a state official said Friday, while crude shippers are searching for alternative means of transport. The shutdown caused by the spill threatens a large amount of regular supply of heavy Canadian … Read more
There’s a lot of discussion about the future of oil, so let’s talk about it. Globally, we consume 96 million barrels of oil everyday. This is the same as 48 super tankers of oil, every 24 hours. So what is all that oil used for? Well, we as consumers, we use almost all of … Read more
November 1, 2019 Globe Newswire Pengrowth Energy Corporation (“Pengrowth” or the “Company”) (TSX:PGF, OTCQX:PGHEF) today announced that it has entered into a definitive arrangement agreement (the “Arrangement Agreement”) with Cona Resources Ltd. (the “Purchaser”), a portfolio company of Waterous Energy Fund, pursuant to which the Purchaser has agreed to repay the outstanding principal amount and … Read more
Attendees will hear Vivian’s NEW research, POST election November 6, 2019, 7:00 pm Hotel Arts, Calgary Join us and Celebrate the last 30 years in our industry. We are honouring some amazing CHOA members and Ms. Krause will provide necessary researched insights into our industry. Cocktail reception, dinner and networking. This is one … Read more
November 1, 2019 Globe Newswire Pieridae Energy Limited (“Pieridae” or the “Company”) (TSXV: PEA) is pleased to announce the appointment of Mr. Mark Horrox as an additional independent director, effective immediately. Mr. Horrox is a principal at Third Eye Capital (“TEC”). He has 20 years of global experience investing in companies undergoing change or growth. His responsibilities … Read more
November 1, 2019 Reuters Cleanup crews in Walsh County, North Dakota, are working toward plugging the Keystone pipeline after a more than 9,000-barrel oil leak this week, a state official said Friday, while crude shippers are searching for alternative means of transport.The shutdown caused by the spill threatens a large amount of regular supply of … Read more
November 2, 2019 Globe Newswire CALGARY, Alberta, Nov. 01, 2019 (GLOBE NEWSWIRE) — News Release – TC Energy Corporation (TSX:TRP) (NYSE:TRP) (TC Energy) today announced the West Path Delivery Program, a combined $1.2 billion expansion of its NOVA Gas Transmission Ltd. (NGTL) and Foothills Systems, which will connect with the US$335 million GTN XPress Project recently … Read more
November 1, 2019 Reuters U.S. energy firms this week reduced the number of oil rigs operating for a second week in a row as independent producers cut spending as record crude production weighs on the outlook for energy prices.Drillers cut five oil rigs in the week to Nov. 1, bringing the total count down to 691, … Read more
November 1, 2019 Reuters The discount on Canadian heavy crude widened versus U.S. benchmark West Texas Intermediate (WTI) crude on Friday to the biggest level in 11 months, after a leak in North Dakota this week shut down the Keystone oil pipeline. Western Canada Select (WCS) heavy blend crude for December delivery in Hardisty, Alberta, … Read more
November 1, 2019 CNW Tidewater Midstream and Infrastructure Ltd. (“Tidewater”) (TSX:TWM) is pleased to announce that it has closed its previously announced acquisition of Husky Energy’s light oil refinery (“PGR“) located at Prince George, British Columbia (the “Acquisition“). In conjunction with the Acquisition, Tidewater has also closed the previously announced: expansion of its credit facility from $350 million to $600 million; and, $100 … Read more
CIBC’s chief executive Victor Dodig rallied support for Canada’s energy sector, saying it’s the country’s “family business” and that the shortage of pipeline capacity represents a “critical threat” to our economy.
He added during his comments during a…
CALGARY — Shares in oil and gas producer Pengrowth Energy Corp. tumbled by 75 per cent on Friday after it announced a deal to be acquired by Cona Resources Ltd. for five cents per share and the assumption of debt.
Shares in Pengrowth closed at five ce…
Canada’s drilling rig count is down 5 actively drilling rigs according to data collected by Baker Hughes for the week ending November 1, 2019 From one week ago, Alberta rig counts increased 2 to 99 and the Saskatchewan rig counts decreased 7 to 28. Oil drilling decreased 9 to 93 and gas increased 4 to … Read more
CALGARY — Alberta is going in the “right direction” with its plan to ease production curtailments for oil producers who add crude-by-rail capacity, the CEO of Imperial Oil Ltd. said Friday, although he didn’t commit to transport more oil by rail.
Rich…
By Sam Unsted and Celeste Perri Nov 1, 2019 (Bloomberg) Good morning. The impeachment process took a step forward, British election campaigning took a step up and Christine Lagarde has stepped into her new role. Here’s what’s moving markets. Impeachment U.S. lawmakers voted to move to the public phase of the inquiry targeting President Donald Trump, putting him on … Read more
By Bloomberg News Nov 1, 2019 (Bloomberg) As the global campaign against coal gathers pace, the world’s biggest consumer is nevertheless set to boost imports this year.China’s purchases of foreign coal in the first nine months have already raced ahead of last year by almost 10%, suggesting it’ll be “difficult to have imports at the … Read more
Encana Corp will shift base to the United States and become Ovintiv Inc, the Canadian oil and gas producer said on Thursday, as Canada faces pipeline capacity shortages that have led many companies to move from the country’s energy sector. Rivals Royal Dutch Shell , ConocoPhillips and Suncor Energy have either been selling their Canadian … Read more
By Heesu Lee and Alex Longley Nov 1, 2019 (Bloomberg) Oil headed for its biggest weekly loss in a month as swelling American stockpiles and renewed doubts over a long-term U.S.-China trade deal suggested supply will continue to outpace demand. Futures edged higher in New York on Friday, but are down about 4% this week. … Read more
By Bloomberg News Nov 1, 2019 (Bloomberg) Hope for a boom in the global solar industry this year is fading as the top market is expected to miss its installation target.China is likely to fail meeting the new capacity estimates it touted earlier this year, which were as high as 45 gigawatts, according to analysts … Read more
Well positioned to fund $30 billion capital program without additional common equity November 01, 2019 | Source: TC Energy Corporation CALGARY, Alberta, Nov. 01, 2019 (GLOBE NEWSWIRE) — TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced net income attributable to common shares for third quarter 2019 of $739 million or $0.79 per … Read more
November 01, 2019 | Source: Baytex Energy Corp. CALGARY, Alberta, Nov. 01, 2019 (GLOBE NEWSWIRE) — Baytex Energy Corp. (“Baytex”)(TSX, NYSE: BTE) reports its operating and financial results for the three and nine months ended September 30, 2019 (all amounts are in Canadian dollars unless otherwise noted). Strong operating performance has continued across our asset base … Read more
October 31, 2019 Reuters Canadian pipeline operator Enbridge Inc on Thursday won backing from a Michigan state court to permit a 66-year-old crude oil pipeline to continue to run under a state waterway, pushing back authorities’ efforts to have the pipeline decommissioned. The Enbridge Line 5 pipeline runs under the Straits of Mackinac, where Lakes Huron … Read more
October 31, 20193:15 PM Newsfile DXI Energy Inc. (TSX: DXI) (OTCQB: DXIEF) (“DXI” or the “Company”), an upstream oil and gas exploration and production company operating in Colorado’s Piceance Basin and the Peace River Arch region in British Columbia, today announced its financial results for the three and nine month periods ended September 30, 2019. … Read more
CALGARY — TC Energy Corp. says its net income slipped in the third quarter after it sold $3.4 billion in assets in the first nine months of the year.
The Calgary-based pipeline company says net income came in at $739 million, or 79 cents per share, fo…
EDMONTON — The chief of a First Nation that has taken Alberta to court to protect its “last wilderness” wants to meet with Premier Jason Kenney to get him to honour the government’s promises.
“We’re confident that the new government is going to do rig…
CALGARY — Pembina Pipeline Corp. says it earned $370 million in the third quarter for an increase from a year earlier despite lower revenue.
The Calgary-based pipeline company says the profit, which works out to 66 cents per share, was an increase fro…
Oilpatch braces for continued uncertainty with new federal minority government Calgary, Alberta (October 31, 2019) – Today, the Petroleum Services Association of Canada (PSAC) released its 2020 Canadian Oilfield Services Activity Forecast. PSAC expects a total of 4,500 wells (rig releases) to be drilled in Canada in 2020. For 2019, the Association’s final revised forecast predicts a yearly … Read more
CALGARY — The Alberta government is easing production limits on oil companies prepared to move more of their product on trains.
Companies had asked the government to ease the limits in exchange for shipping more crude by rail.
The province says the sh…
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ENERGYNOW FEATURE: Why Energy Policy Is Becoming a Women’s Issue Across Canada