Tuesday, Dec. 31, 2019 CALGARY, AB: The Canadian Taxpayers Federation is urging drivers to fuel up their cars before the federal carbon tax hits Alberta on Jan. 1, 2020. “Albertans will be feeling the federal carbon tax hangover tomorrow,” said Franco Terrazzano, Alberta Director for the CTF. “Before we fill our glasses with New Year’s champagne, … Read more
By Grant Smith and Alex Longley Dec 31, 2019 (Bloomberg) Oil fell in New York as traders took profits from a pile of bullish wagers in what has been the strongest year for crude since 2016.West Texas Intermediate futures fell 0.9% on Tuesday, yet prices are still up 35% this year as OPEC and its … Read more
By Saket Sundria and Grant Smith Dec 31, 2019, (Bloomberg) Oil in New York headed for its biggest annual increase since 2016, as OPEC’s production cuts tempered supplies while a trade pact between the U.S. and China buoyed the outlook for demand.West Texas Intermediate futures have climbed 36% this year, and were trading above $61 a … Read more
EDMONTON — In 2019, Alberta Premier Jason Kenney made good on his promise to take a blowtorch to core policies enacted by the former NDP government.
In 2020, the goal of the United Conservative Party leader will be to get traction on his signature pro…
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
By Rachel Adams-Heard and Kiel Porter Dec 30, 2019 (Bloomberg) After a fairly abysmal 2019 for U.S. energy mergers and acquisitions, investors are signaling to oil executives and investment bankers that the days of big-premium deals are over.Some of the year’s most notable mergers, including Occidental Petroleum Corp.’s blockbuster takeover of Anadarko Petroleum Corp., were met … Read more
By Saket Sundria and Alex Longley Dec 30, 2019 (Bloomberg) Oil rose for a fifth session, the longest run of gains since July, as a bigger-than-forecast decline in U.S. crude stockpiles eased oversupply concerns.Futures climbed 0.6% in New York after closing at the highest level in three months on Friday. American crude supplies fell by 5.47 … Read more
Canada’s drilling rig count is down 50 actively drilling rigs according to data collected by Baker Hughes for the week ending December 27, 2019. From one week ago, Alberta rig counts decreased 38 to 64 and the Saskatchewan rig counts decreased 11 to 22. Oil drilling decreased 36 to 52 and gas decreased 14 to … Read more
Somewhere in west Texas, amid one of the most productive oilfields in the continent, a Canadian company is building a plant that it hopes will eventually suck from the air a million tonnes of carbon being pumped out of the ground all around it. Carbon Engineering’s groundbreaking plant is one of many projects hoping to help in … Read more
Published by Canadian Energy Centre Staff Visit the Canadian Energy Centre website Follow CEC on Facebook CEC Facebook Follow CEC on Linkedin CEC Linkedin Follow CEC on Twitter CEC Twitter Joe Dion’s ancestors have always advocated for Indigenous rights and prosperity. So when he talks about greater ownership and opportunities for people in his community, it’s clear … Read more
18 MONTHS OF MARKETING ON ENERGYNOW FOR THE PRICE OF 12! GET 6 EXTRA MONTHS OF MARKETING ON ENERGYNOW FOR FREE! SAVE 50%! Market your Company on EnergyNow.com (U.S) or EnergyNow.ca (Can) or *Both!! (*an additional charge would apply for both) ALL MARKETING PROGRAMS MUST BE BOOKED PRIOR TO January 15th, 2020. THREE (18 for … Read more
December 27, 2019 Reuters U.S. energy firms reduced the number of operating oil rigs for the first time in three weeks as producers follow through on plans to slash spending on new drilling. Drillers cut 8 oil rigs in the week to Dec. 27, bringing the total count down to 677, the lowest since the … Read more
CALGARY — A new wave of cold water is about to hit Canada’s much-buffeted oilsands industry but whether it will be a perfect storm or a tempest in a teapot is yet to be seen.
Tighter pollution rules by the International Maritime Organization are set t…
By Dina Khrennikova and Olga Tanas Dec 27, 2019 (Bloomberg) OPEC+ output cuts have stabilized the global oil market but can’t last forever, Russia said as uncertainty persists over the future of the agreement beyond March.“Oil-production cuts can’t be eternal; we will gradually need to make a decision on exiting” the accord, Energy Minister Alexander Novak … Read more
By Alex Longley Dec 27, 2019 (Bloomberg) Oil was near the highest level in more than three months on indications of shrinking U.S. crude stockpiles and optimism in the global economic outlook.Futures were steady after earlier adding as much as 0.5% in New York and are set for the biggest monthly increase since January. American crude … Read more
By Liam Denning Dec 27, 2019 (Bloomberg Opinion) In between dealing with margin calls, Aubrey McClendon spent some of 2009 liquidating his famously well-stocked wine cellar in the non-fun way. In vino veritas, as it turns out: McClendon’s vintage version of the financial crisis, after his meteoric rise at the helm of fracking pioneer Chesapeake Energy Corp., embodied the wild … Read more
December 26, 2019 07:00 ET | Source: TC Energy Corporation CALGARY, Alberta, Dec. 26, 2019 (GLOBE NEWSWIRE) — News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) announced today that it has entered into an agreement to sell a 65 per cent equity interest in the Coastal GasLink Pipeline Project (Coastal GasLink … Read more
OTTAWA — Prime Minister Justin Trudeau heads into 2020 promising to chart a path to Canada’s most ambitious greenhouse-gas emissions target yet: getting to a point within 30 years where Canada is adding no emissions that will stay in the atmosphere.
B…
EDMONTON — Staff in the Alberta government’s so-called war room should stop calling themselves reporters, says the president of the Canadian Association of Journalists.
“Don’t pretend that you’re doing journalism — because you’re not,” Karyn Pugliese …
By Netty Ismail Dec 26, 2019 (Bloomberg) If 2019 was the year when a clutch of Middle East markets burst into the mainstream, then 2020 will test whether the foreign money keeps flooding in.The year opened with five Gulf Arab economies joining JPMorgan Chase & Co.’s emerging-market bond indexes. The spotlight stayed firmly on the region … Read more
CALGARY — The company behind the $6.2-billion Coastal GasLink pipeline in British Columbia says it’s made a deal to sell a 65 per cent equity interest in the project.
TC Energy Corp. says in a news release that it has entered into an agreement for the…
By Leonid Bershidsky Dec 25, 2019 (Bloomberg Opinion) In the space of just a few momentous weeks, one of Russian President Vladimir Putin’s most ambitious projects — a Russian natural gas export system to match the new geopolitical reality rather than the Cold War-era one — has taken its final shape. It will probably last, without major change, … Read more
By Kriti Gupta Dec 26, 2019 (Bloomberg) Oil advanced in light trading, with prices set for the biggest monthly gain in almost a year on speculation that supplies are shrinking. Futures rose 0.9% in New York, gaining for a third straight session as trading resumed after the Christmas break. Prices are up almost 12% this month, and … Read more
December 24, 2019 CNW CALGARY – Perpetual Energy Inc. (“Perpetual” or the “Company”) announces that its syndicate of lenders have completed their semi-annual borrowing base redetermination. The revolving bank debt borrowing limit (“Borrowing Limit”) will be reduced by the Company’s lenders from $55 million to $45 million on or prior to January 22, 2020, with the next Borrowing Limit redetermination scheduled on or … Read more
December 24, 2019 Accesswire CALGARY – Point Loma Resources Ltd. (TSXV:PLX) (“Point Loma” or the “Corporation“) is pleased to announce the first closing of a transaction to rationalize its assets and monetize its working interest at Wizard Lake, Alberta. Highlights As per the December 17, 2019 press release, Point Loma has completed the first closing of the … Read more
OTTAWA — The federal government was told just before the fall election campaign that many Canadians didn’t believe the country will meet targets for reducing its greenhouse-gas emissions.
Public-opinion research conducted on behalf of the Privy Counci…
By Ann Koh and Grant Smith Dec 24, 2019 (Bloomberg) Oil held above $60 a barrel before U.S. government data forecast to show that crude stockpiles declined again, mitigating concerns that global markets face a renewed surplus next year.Futures rose 0.4% in New York. American crude inventories fell by 1.7 million barrels last week, according to … Read more
By Salma El Wardany and Fiona MacDonald Dec 24, 2019 (Bloomberg) Saudi Arabia and Kuwait agreed to resume oil production in a shared border region more than four years after halting output.Their agreement allows for “the resumption of oil production from the joint fields,” the Saudi energy ministry said on Twitter. The oil fields in the … Read more
By Rachel Adams-Heard and Catherine Ngai Dec 24, 2019 (Bloomberg) America’s top shale field is becoming increasingly gassy as drilling slows down, undercutting profits for explorers at a time when investors are demanding better returns.Natural gas has long been a nuisance in the Permian, where a massive glut weighs on prices, with crude producers sometimes having … Read more
CALGARY — A mindset of “hunkering down” in the face of persistent headwinds means mergers and acquisitions activity in Canada’s oilpatch will likely remain at low ebb in 2020, analysts say.
A recent spate of consolidation of producers in prolific Texa…
OTTAWA — The federal public safety minister’s office says they have spoken to the RCMP over concerns about language reportedly used by the agency in planning how it would deal with First Nations protesters blockading natural gas pipeline construction …
OXBOW, Sask. — A school board in southeastern Saskatchewan, where many people work in the energy industry, is apologizing after some parents took offence to a Christmas play with an environmental theme.
Last Thursday, children at Oxbow Prairie Horizon…
On December the 7th, something special happened in Grande Prairie. It was a planned day for a modest toy drive to help the less fortunate in the city of Grande Prairie. As a former Grande Prairie-ite, this city holds a special place in my heart. My wife and I raised 3 kids here, and still … Read more
By Ann Koh and Grant Smith Dec 23, 2019 (Bloomberg) Oil steadied after the biggest decline in three weeks on Friday as Kuwait aimed to reach a deal with Saudi Arabia that will restore crude output along their border, and U.S. shale explorers boosted drilling. February futures held above $60 a barrel in New York … Read more
By Noah Smith Dec 23, 2019 (Bloomberg Opinion) In recent years, much of the commentary about climate change has gone from sternly serious to wildly despairing. A new report from the United Nation’s Intergovernmental Panel on Climate Change warns that the effects of climate change are accelerating and that the world has barely more than a decade to … Read more
WRITTEN BY PIERRE GOSSELIN ON DEC 23, 2019. POSTED IN LATEST NEWS German evolutionary biologist and physiologist Prof. Dr. Ulrich Kutschera told in an interview that “CO2 is a blessing for mankind” and that the claimed “97% consensus” among scientists is “a myth.” 97% consensus claim “untenable” Kutschera, who has authored over three hundred scientific publications and twelve books, told the German … Read more
OTTAWA — Canada’s economy contracted slightly in October, with real gross domestic product down 0.1 per cent from September — the first month-to-month decline since February, Statistics Canada reported Monday.
Economists had projected a flat GDP repor…
By Grant Smith Dec 22, 2019 (Bloomberg) Global oil markets notched up a number of milestones this year that echoed the story of the past decade: the world has shifted from an era of supply tightness to plenty.What distinguished the developments of 2019 was not just how big they were but often how little impact they had. … 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
This article was originally published on blog.paradoxaccess.com By Marc Breault “Any sufficiently advanced technology is indistinguishable from magic.” — Arthur C. Clarke Roads are an indispensable part of modern infrastructure. They enable the transport of people and goods around the world and have been around for thousands of years. In fact, the earliest evidence of constructed roads dates … Read more
Canada’s drilling rig count is down 4 actively drilling rigs according to data collected by Baker Hughes for the week ending December 20, 2019. From one week ago, Alberta rig counts increased 4 to 102 and the Saskatchewan rig counts decreased 8 to 33. Oil drilling decreased 8 to 88 and gas increased 4 to … Read more
December 23, 2019 U.S. energy firms added the most oil rigs this week since February 2018 – primarily in the Permian shale – even though producers have been reducing spending on new drilling for much of this year.Companies added 18 oil rigs in the week to Dec. 20, bringing the total count to 685, the … Read more
by Mark Milke on December 19, 2019 This column first appeared in the Financial Post, December 19, 2019. Early this month, as the federal government returned to work, the Russian and Chinese governments jointly turned on a 3,000-kilometre natural gas pipeline that runs from Siberia to northeast China. The “Power of Siberia” pipeline is a US$55 billion … Read more
CALGARY — The Canada Energy Regulator says exports of crude oil by rail fell by 15 per cent in October to 270,000 barrels per day from 319,600 bpd in September.
The October number is the lowest in six months and well below the record high of 354,000 b…
CALGARY — Production at the Terra Nova offshore oilfield operated by Suncor Energy Inc. remains offline following a suspension order by the regulator.
The shutdown was ordered by the Canada-Newfoundland and Labrador Offshore Petroleum Board on Thursda…
MONTREAL — Canadian National Railway Co. says service is back to normal less than a month after a strike brought it to a screeching halt, but big grain backlogs remain a concern for Western farmers.
“Back to normal shipping won’t clear up the backlog …
December 20, 2019 Globe Newswire CALGARY – News Release — TC Energy Corporation (TSX:TRP) (NYSE:TRP) (TC Energy) announced today that its wholly owned subsidiary, TransCanada PipeLines Limited, has filed an application with the Canada Energy Regulator (CER) for approval of a six-year negotiated and unanimously supported settlement with its customers and other interested parties on … Read more
By Elizabeth Low and Grant Smith Dec 20, 2019 (Bloomberg) Oil is on track for a third weekly advance as the U.S. and China made progress toward a phase-one trade deal, supporting the outlook for fuel demand.Futures in New York steadied near $61 a barrel after settling on Thursday at the highest in more than three … Read more
By Lorcan Roche Kelly Dec 20, 2019 (Bloomberg) Impeachment process delayed, new head of Bank of England and a busy markets session in store. Here are some of the things people in markets are talking about today. Not yet House Speaker Nancy Pelosi’s delay in handing over the impeachment case to the Senate risks diluting the Democrat case … Read more
December 19, 2019 Globe Newswire CALGARY – Pengrowth Energy Corporation (“Pengrowth” or the “Company”) (TSX:PGF, OTCQX:PGHEF) today announced that, following the requisite shareholder and secured debt holder approvals having been obtained at the special meetings, it has obtained a final order of the Court of Queen’s Bench of Alberta approving the plan of arrangement (the “Arrangement”), … Read more
December 19, 2019 Reuters Enbridge Inc submitted on Thursday its application to the Canada Energy Regulator (CER) to contract out space on its Mainline oil pipeline, and said it had significant support from shippers, documents filed with the regulator showed. Enbridge plans to allow shippers to book 90% of space under long-term contracts on the nearly … Read more
CALGARY — A long-running court battle over who owns a well-completion technology that helped usher in the shale oil and gas boom in North America has ended.
The Supreme Court of Canada says it will not hear an appeal by Calgary-based Packers Plus Ener…
LANIGAN, Sask. — Canadian Pacific Railway says it expects the last of its damaged cars will be removed by the end of the week from the site of a fiery derailment in Saskatchewan.
It also says in an email that staff have started scraping contaminated s…
December 19, 2019 Globe Newswire CALGARY – Return Energy Inc. (“Return” or the “Company”) (RTN: TSXV) is pleased to announce that it has completed its previously announced non-brokered private placement for aggregate gross proceeds of $25.0 million (the “Private Placement”) and appointed a new management team (the “New Management Team”) and new board of directors (the “New Board”) of … Read more
REGINA — Saskatchewan’s environment minister is signalling a warming of feelings towards Ottawa despite disagreement over the federal carbon tax.
Dustin Duncan met with federal counterpart Jonathan Wilkinson on Thursday in Regina, where they discussed…
CALGARY — A key indicator of future oil and gas drilling activity in Alberta has fallen to a record low as pipeline capacity constraints continue to restrain oilpatch spending.
This week’s auction of Crown drilling rights — which allow energy explorat…
EDMONTON — Alberta’s energy war room says it is pulling and replacing its logo after learning that it was already being used by another company.
The war room, officially known as the Canadian Energy Centre, says the image was developed by a Calgary-ba…
by Koleya Karringten When I think of Alberta, it’s as more than just the land I call home – but the place that nurtured and helped me, my family and my company grow. As a mother, I’ve always loved the saying that it ‘takes a village to raise a child’, and similarly, as a life-long … Read more
By Lorcan Roche Kelly Dec 19, 2019 (Bloomberg) Big day for central banks, Trump impeached, and another look at year-end liquidity. Here are some of the things people in markets are talking about today. Ending the experiment The Swedish central bank ended half a decade of negative rates when it hiked its key borrowing cost to 0%, a … Read more
By Elizabeth Low and Alex Longley Dec 19, 2019 (Bloomberg) Oil hovered near $61 a barrel for a second day after the longest streak of gains in almost two months as traders weighed bearish signs of swelling U.S. fuel inventories against a decline in domestic crude stockpiles.Futures in New York were little changed. Official U.S. data … Read more
By Netty Ismail Dec 19, 2019 (Bloomberg) If 2019 was the year when a clutch of Middle East markets burst into the mainstream, then 2020 will test whether the foreign money keeps flooding in.The year opened with five Gulf Arab economies joining JPMorgan Chase & Co.’s emerging-market bond indexes. The spotlight stayed firmly on the region … Read more
By Robert Tuttle Dec 19, 2019 Canadian shipments of crude by rail are poised to surge next year, spurring investment in new export infrastructure. Crude-by-rail capacity in Alberta is expected to grow by 100,000 barrels a day in December after the provincial government eased production limits for oil transported by train, the Energy Ministry said … Read more
December 18, 2019 21:38 ET | Source: Pengrowth Energy Corporation CALGARY, Alberta, Dec. 18, 2019 (GLOBE NEWSWIRE) — Pengrowth Energy Corporation (“Pengrowth” or the “Company”) (TSX:PGF, OTCX:PGHEF) today announced the approval of its previously announced acquisition by Cona Resources Ltd. (the “Purchaser”), a portfolio company of Waterous Energy Fund, by way of a plan of arrangement (the … Read more
December 18, 2019 All financial figures are in Canadian dollars unless noted otherwise CALGARY – Gibson Energy Inc. (“Gibson” or the “Company”), (TSX: GEI), announced today it has sanctioned the construction of one million barrels of new tankage at its Hardisty Terminal. “The sanction of two new tanks at the Top of the Hill will … Read more
Get accurate, pre-computed probabilistic production forecasts for every well in western Canada. basinINTEL provides extremely accurate forecasts that are back-tested and statistically verified, so you can spend less time forecasting and more time analyzing. Click here to book a demo today or email [email protected]!
December 18, 2019 Reuters A aerial view of the Trans Mountain marine terminal, in Burnaby, B.C. Trans Mountain Corp, the operator of Canada’s state-owned oil pipeline, asked a court on Wednesday to dismiss a legal application by four indigenous groups to overturn government approval for expansion.A three-day Federal Court of Appeal hearing began in Vancouver on … Read more
Published by CEC Staff on December 18, 2019 As a human-resources professional, Gillian Hynes knows what people look for in a fulfilling career: purpose and passion. And she also knows, from first-hand experience and from watching others flourish, that it’s possible to find both in the energy sector. Just months after finishing a Bachelor of … Read more
EDMONTON — The Alberta Court of Appeal has reserved its decision in the provincial government’s challenge of the federal carbon tax.
After three days of submissions, the court said it would issue a ruling as soon as it’s able but not this week.
Lawyer…
December 18, 2019 CNW CALGARY – 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 January 15, 2020. The commitments under the RBL Facility will be limited to a maximum of $265 million for … Read more
December 18, 2019 CNW CALGARY – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) is pleased to announce 2020 average production guidance of 315,000 – 320,000 boepd on 2020 EP capital spending of $925.0 million. The Company anticipates 2020 free cash flow(1) of $345.0 million utilizing strip commodity pricing. The 2020 free cash flow will be employed for share buybacks, possible dividend increases, and … Read more
December 18, 2019 CNW CALGARY, Dec. 18, 2019 /CNW/ – Gear Energy Ltd. (“Gear“) (TSX: GXE) is pleased to announce that Gear’s Board of Directors have approved a $50 million capital budget for 2020 targeting further growth in funds from operations (“FFO”) per debt adjusted share through a strategic balance between production stability, continued improvement of the strong balance sheet and … Read more
December 18, 2019 CNW CALGARY – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) is pleased to announce 2020 average production guidance of 315,000 – 320,000 boepd on 2020 EP capital spending of $925.0 million. The Company anticipates 2020 free cash flow(1) of $345.0 million utilizing strip commodity pricing. The 2020 free cash flow will be employed for share buybacks, possible dividend increases, … Read more
By Sybilla Gross Dec 17, 2019 (Bloomberg) Bulls are relishing the recent swing toward a “more positive view” in markets, liquidity jitters in China are testing the bond market again and Indian asset managers are trouncing their global peers. Here are some of the things people in markets are talking about today. Don’t Stop Me Now While plenty of … Read more
By Stephen Cunningham Dec 18, 2019 (Bloomberg) The golden age of U.S. shale is far from over, with an expected slowdown in the Permian Basin likely to be temporary, according to the new U.S. Energy Secretary.The shale boom helped transform the U.S. into a net exporter of crude and petroleum products in September from a major … Read more
by Zsolt Vigh Updated by CEC Staff There has been much discussion as of late on the Canadian liquefied natural gas (LNG) industry, and whether it will help lower emissions abroad, or simply add to the growing global climate change problem. After an extensive analysis, it is clear that growing Canadian LNG exports is necessary if … Read more
Rex does it again. Chris Slubicki is Canada’s foremost Ambasador/Spokesperson for all Canadian resources. The Modern Energy CEO shares truism of the world wide demands for energy and how Canada leads the pack with respect to all”good” metrics.
By Elizabeth Low and Grant Smith Dec 18, 2019 (Bloomberg) Oil retreated from a three-month high after an industry report showed a large build in U.S. crude and gasoline stockpiles, reviving concerns over renewed oversupply.Futures in New York fell as much as 1%, yet held above $60 a barrel after rising 3.7% over the past four … Read more
Canada’s Electric Highwayᵀᴹ includes more than 50 stations from Victoria, B.C. to Stewiacke, N.S. December 17, 2019 Source: Suncor Energy Inc photo-release Petro-Canada announces completion of coast-to-coast network of EV fast chargers Petro-Canada, a Suncor business, celebrated the opening of the most western electric vehicle fast-charger in its coast-to-coast network on December 17, 2019. Suncor Energy Inc … Read more
By David Yager December 16, 2019 For EnergyNow.ca Despite the relentless onslaught of bad news since oil prices collapsed five years ago, the industry still enjoys 100% rock solid support 24/7/365 where it matters the most. Where can that be? Hint. It’s not in the mirror or among your colleagues in the oilpatch echo chamber. … 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. For years, the Alberta Energy Regulator (AER) has provided monthly detailed liability … Read more
Starting in September, PJVA began its Joint Venture Certificate of Achievement program. Hosted downtown at the PJVA office, this lecture-based program is both written and delivered by well-respected and experienced Joint Venture professionals. The courses have been tailored to the Western Canadian Joint Venture industry and practices. PJVA strongly recommends this program to all oil … Read more
We are pleased to announce we will once again be helping several families for the holiday season. This will be our 3rd year in a row providing food, toys, clothes and housewares to families with young children struggling to make ends meet. We are busy organizing and getting everything ready for delivery later this week. … Read more
REGISTER NOW Regardless of career level, everyone involved with the operation, maintenance, and design of coke drums should regularly cultivate their knowledge of coke drum technology innovations to maximize the efficiency of their own operations. In order to facilitate this knowledge transfer, Stress Engineering Services holds a Coke Drum Reliability Workshop every two years. Registration … Read more
Click here to download the report Summary Amine systems in natural gas processing plants and crude oil refineries are prone to various forms of disruption, making them notoriously difficult to maintain in a steady state. Common causes of amine unit upset include: (1) liquid hydrocarbons that enter the amine system with the natural gas stream … Read more
As the energy industry continues to adjust to the new normal, oil and gas firms are seeking news ways of executing projects and gaining cost certainty to secure capital and sanctioning for brownfield expansions and greenfield projects. Traditionally, engineering, procurement and construction management (EPCM) has been billed on a time and material basis. … Read more
On January 1, 2020, new federal and provincial regulations come into effect. The technical name of the federal regulation is the Greenhouse Gas Pollution Pricing Act (GGPPA), but it is better known as the Carbon Tax. On that same day, the Government of Alberta is introducing its Technology Innovation and Emissions Reduction regulation (TIER). This … Read more
CALGARY — The federal environment minister says he’s spoken with his Alberta counterpart about how Canada’s climate commitments could weigh into his decision about a large proposed oilsands mine.
Alberta’s United Conservative government has urged Otta…
December 17, 2019 | Source: Parex Resources Inc. CALGARY, Alberta, Dec. 17, 2019 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX:PXT), a company headquartered in Calgary, Alberta and focused on Colombian oil exploration and production, provides an operational update. Azogue (LLA-32, WI 87.5%): The Azogue-1 exploration well (WI 75%) was drilled to a total … Read more
EDMONTON — The climate crisis is a national and global issue that can’t be fought entirely by the provinces, a lawyer for the federal government argued Tuesday.
“The context of this case is the greatest existential threat of our time,” said Sharlene T…
December 17, 2019 | Source: Parkland Fuel Corporation CALGARY, Alberta, Dec. 17, 2019 (GLOBE NEWSWIRE) — Parkland Fuel Corporation (“Parkland”) (TSX:PKI) announced today that through its wholly owned U.S. subsidiaries (collectively, “Parkland USA”), it has completed the previously announced acquisition of the assets of Mort Distributing, Inc. and its affiliates (collectively, “Mort”). Mort is a marketer … Read more
Summary: The Government of Alberta is committed to attracting new investment every year worth billions of dollars. That’s why it promised to cut taxes on investment and operations in Alberta by cutting the corporate income tax on July 1, 2019, and is scheduling further annual decreases until 2022. In designing its new corporate tax policy, the … Read more
VANCOUVER — Lawyers for the Canadian government say it conducted a new round of consultations with Indigenous groups about the Trans Mountain pipeline expansion that was reasonable, adequate and fair.
Jan Brongers began arguments on behalf of the fede…
Updated by CEC Staff Alberta’s oil and gas industry has been quick over the years to embrace new technologies to improve efficiencies and safety in its operations. And one of the growing areas of innovation is the use of drones and other unmanned aerial vehicles. Increasingly in the oilpatch, drones are being used in a … Read more
Tuesday, Dec.17, 2019 EDMONTON, AB: The Canadian Taxpayers Federation opposed the carbon tax in the Alberta Court of Appeal today. “Carbon taxes will cost Albertans a lot of money without helping the environment and our lawyers made strong arguments on behalf of taxpayers in court today,” said Franco Terrazzano, Alberta Director for the CTF. “We applaud … Read more
OTTAWA — Some of Canada’s biggest oil companies are joining forces with environmentalists to develop policies for both the economy and the climate.
The Energy Future Forum, which is organized by the Public Policy Forum, had its inaugural meeting Monda…
December 17, 2019 Accesswire CALGARY – Point Loma Resources Ltd. (TSXV:PLX) (“Point Loma” or the “Corporation“) is pleased to announce a transaction to rationalize its assets and monetize its working interest at Wizard Lake, Alberta. Highlights Point Loma has entered into a Purchase and Sale agreement (“PSA“) with White Bark Energy Ltd. (WBE:ASX, “White Bark“), the parent … Read more
December 17, 20197:00 AM Newsfile Vancouver – Mark Jarvis, CEO of Shoal Point Energy Ltd. (CSE: SHP), announced today that the first well at the Company’s Mt. Evans Project has been spudded and surface casing was successfully set at a depth of 1451 feet. “The crews are now off for the holidays,” said Mr. Jarvis. “The … Read more
OTTAWA — Climate change has been chosen as the 2019 Canadian Press News Story of the Year.
The story was chosen by reporters and editors across the country in a year that saw warnings about Canada warming twice as fast as the rest of the world and the…
By Lorcan Roche Kelly Dec 17, 2019 (Bloomberg) Boeing 737 halt big enough to hit U.S. GDP, pound gives up all U.K. election gains, and further details of trade deal implementation emerge. Here are some of the things people in markets are talking about today. Max effect Boeing’s decision to halt production of the 737 Max in January will add … Read more
By Will Mathis Dec 16, 2019 (Bloomberg) Coal consumption is set to rise in the coming years as growing demand for electricity in developing countries outpaces a shift to cleaner sources of electricity in industrialized nations.While use of the most polluting fossil fuel had a historic dip in 2019, the International Energy Agency anticipates steady increases … Read more
By Elizabeth Low and Grant Smith Dec 17, 2019 (Bloomberg) Oil rose to a fresh three-month high above $60 a barrel on optimism the partial U.S.-China trade pact will bolster demand, while analysts estimated a pullback in American crude stockpiles.Futures gained 0.5% in New York after rising 2.5% over the previous three sessions. A limited trade agreement, … Read more
By Bloomberg News Dec 17, 2019 (Bloomberg) China is breaking records for crude oil imports and isn’t likely to stop soon as new refineries ramp up and hopes grow that the easing of trade tensions with the U.S. will bolster the economy.Even as economic expansion has slowed, the pace of growth still requires ever more oil. … Read more
By Archana Narayanan Dec 17, 2019 (Bloomberg) Saudi Arabia and investors have long been at odds about the value of the kingdom’s crown jewel. After a four-year journey that’s been marked with delays, disagreements over valuation and devastating attacks on Aramco’s oil facilities, the kingdom’s de-facto ruler hit his target on Monday: a $2 trillion company.Here’s how … Read more
December 16, 2019 PR Newswire All financial figures are approximate and in Canadian dollars unless otherwise noted. This news release refers to adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”), which is a financial measure that is not defined by Generally Accepted Accounting Principles (“GAAP”). For more information see “Non-GAAP Measures” herein. CALGARY – Pembina Pipeline … Read more
EDMONTON — Alberta Premier Jason Kenney heads to the UK today for a trip his office says will highlight the province’s “responsible energy sector” and to counter what Kenney says is a campaign against investment in the oilsands.
A news release says Ke…
SIOUX FALLS, S.D. — South Dakota Governor Kristi Noem is planning to have another try at so-called riot-boosting laws next year, despite previously drawing criticism for supporting such laws ahead of protests related to the Keystone XL pipeline.
The R…
Canada’s Electric Highwayᵀᴹ includes more than 50 stations from Victoria, B.C. to Stewiacke, N.S. December 17, 2019 | Source: Suncor Energy Inc Petro-Canada announces completion of coast-to-coast network of EV fast chargers Petro-Canada, a Suncor business, celebrated the opening of the most western electric vehicle fast-charger in its coast-to-coast network on December 17, 2019. Suncor … Read more
December 16, 2019 CNW CALGARY – AltaGas Ltd. (“AltaGas”) (TSX:ALA) today announced that it has completed its aggregate issue of $500 million of senior unsecured medium term notes (the “Notes”) with a coupon rate of 2.609 percent, maturing on December 16, 2022 (the “Offering”). The net proceeds resulting from the Offering will be used to pay down existing indebtedness under AltaGas’ … Read more
By Lorcan Roche Kelly Dec 16, 2019 (Bloomberg) It’s PMI day, China gets twin boost, and markets on liquidity watch. Here are some of the things people in markets are talking about today. Feeble factories There’s more weakness in Europe’s manufacturing sector, according to Purchasing Managers Indexes. In Germany, the factory slump deepened again with output unexpectedly falling to 43.4 … Read more
By Elizabeth Low and Grant Smith Dec 16, 2019 (Bloomberg) Oil steadied near a three-month high on cautious optimism that a preliminary trade deal between the U.S. and China will support global fuel consumption.Futures held near $60 a barrel in New York after settling at the highest since Sept. 16 on Friday. The deal involves China buying more … 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
Geothermal Energy is heat that is stored and generated within the Earth. It is partially residual heat from the planet’s formation and partially new heat generated by radioactive decay within the Earth’s crust. This energy source is not a new or novel one in the green revolution we are currently in. But it is an … Read more
Founded in 1996, CFR Chemicals is a privately owned Western Canadian based company. Our primary focus is the distribution of chemicals to the energy and industrial manufacturing industries, while still providing a niche market of specialty oil production chemicals. With a strong network of suppliers around the world and a highly experienced management team, we … Read more
Canada’s drilling rig count is up 15 actively drilling rigs according to data collected by Baker Hughes for the week ending December 13, 2019. From one week ago, Alberta rig counts increased 7 to 98 and the Saskatchewan rig counts increased 8 to 41. Oil drilling increased 9 to 96 and gas increased 6 to … Read more
Date: January 15, 2020 Location: Associations Plus Inc. #600, 900 6-Avenue SW Time: Registration: 7:30 am Seminar: 8:00 am – 4:00 pm Fee: PJVA/PASC/CAPPA members: $400.00 + $20.00 (GST) = $420.00 Non members: $500.00 + $25.00 (GST) = $525.00 Includes course material, coffee and lunch (Only 16 spots available for this course due to the … Read more
EDMONTON — About a year ago, Alberta’s United Conservative Party leader stood in front of 1,500 raucous supporters and called the federal carbon tax an act of “economic masochism” that he would fight with everything in his power if he were elected pre…
VANCOUVER — Four British Columbia Indigenous groups are set to argue in the Federal Court of Appeal that the Canadian government failed to consult adequately with them before its latest approval of the Trans Mountain pipeline expansion.
A three-day he…
By Laura Millan Lombrana, Jeremy Hodges and Bobby Magill Dec 15, 2019 (Bloomberg) The international effort to rein in fossil fuel pollution took a step backward this weekend after envoys at a marathon round of United Nations talks watered down language on issues they had agreed on in previous years. The delegates from almost 200 nations … Read more
by Gregory John Material for the TransMountain pipeline sits ready for construction after worked resumed on the project in early December. With shovels finally in the ground on the Trans Mountain Expansion Project, Western Canada is collectively holding its breath. We’ve been here before, so many are asking: why is this time different from the … Read more
December 13, 2019 CALGARY, Alberta, Dec. 13, 2019 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today that Mr. Sans Cartier has resigned from the Board of Questerre to pursue a new career opportunity. The Board of Directors would like to thank Mr. Sans Cartier for his valuable contribution over the … Read more
Canadian Energy Centre Staff Issue: Investing in Canadian oil and gas. What was said: In a recent report, the Corporate Mapping Project — a research initiative that looks at the fossil fuel industry, led by the University of Victoria, the Canadian Centre for Policy Alternatives and the Parkland Institute – criticized the Canada Pension Plan for investing in … Read more
December 13, 2019 Reuters U.S. energy firms added rigs for the first time in eight weeks even as producers follow through on plans to reduce spending on new drilling.Companies added 4 oil rigs in the week to Dec. 13, bringing the total count to 667, energy services firm Baker Hughes Co said in its closely … Read more
REGINA — The union that represents hundreds of locked-out workers at a Regina refinery is calling for a nation-wide boycott of the facility’s owner, Federated Co-operatives Ltd.
Unifor announced Sunday that it would be launching a national boycott cam…
December 12, 2019 CNW CALGARY – AltaGas Ltd. (“AltaGas”) (TSX: ALA) today announced that it has agreed to issue $500 million of senior unsecured medium-term notes (the “Notes”) with a coupon rate of 2.609 percent, maturing on December 16, 2022 (the “Offering”). The Offering is expected to close on or about December 16, 2019. The net proceeds resulting from the Offering will … Read more
Canadian Energy Centre Expanding access to Canada’s vast fossil fuel resources will significantly lower global greenhouse gas emissions, according to a growing body of evidence showing that Canadian natural gas can play a key role in addressing climate change while meeting the world’s growing demand for affordable and reliable energy. “There is a huge window … Read more
By Will Kennedy and Matthew Martin Dec 12, 2019 (Bloomberg) Almost four years after Mohammed bin Salman first said Saudi Arabia’s state oil giant was worth $2 trillion, the crown prince finally proved his point on Thursday.On the second day of trading on Riyadh’s stock exchange, Saudi Aramco surged — briefly — past his target. The … Read more
By Lorcan Roche Kelly Dec 13, 2019 (Bloomberg) Trump signs off on trade deal, Johnson wins crushing victory, and the Fed opens the taps. Here are some of the things people in markets are talking about today. Deal done? President Donald Trump signed off on a phase-one trade deal with China, a move that averts the introduction … Read more
By Sharon Cho and Grant Smith Dec 13, 2019 (Bloomberg) Oil rose to $60 a barrel for the first time in almost three months after U.S. President Donald Trump signed off on a partial trade deal with China, giving a boost to the fragile outlook for global oil demand.Futures climbed 1.4% in New York, reaching $60 … Read more
By Michael Bellusci and Divya Balji Dec 13, 2019 (Bloomberg) Canadian energy firms have quietly outperformed their U.S. counterparts this year and, even after the run, a chorus of positive outlooks on the sector in Canada continues.Canada’s energy index has risen about 12.7% in 2019 versus 5% for the comparable U.S. gauge, led by pipeline firms … Read more
December 12, 2019 Globe Newswire CALGARY – (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) is pleased to announce that it has successfully re-financed its existing credit facilities with a $225 million Reserve Based Loan (“RBL”), which provides meaningful financial flexibility going forward. Additionally, the Company achieved its previously announced 2019 exit production guidance in November 2019, … Read more
December 12, 2019 CNW CALGARY – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce its budget guidance for 2020 as approved by the Company’s Board of Directors. 2020 BUDGET – DEFENSIVE AND SUSTAINABLE Surge’s disciplined 2020 capital expenditure budget reaffirms the Company’s commitment to free cash flow generation and debt reduction. Surge’s … Read more
December 13, 2019 Canadian Energy Network Canada’s oil and natural gas production is projected to have steady growth through 2040 as key pipeline and export infrastructure are completed and prices rise over the long-term, according to the Canada Energy Regulator’s first long-term energy outlook. Specifically, the CER report finds that crude oil … Read more
December 12, 2019 Reuter Canada’s Syncrude oil sands facility has ramped up production after a disruption last week due to operational problems, three market sources said on Thursday.Syncrude is a joint venture, majority owned by Suncor Energy Inc , with minority stakes held by Imperial Oil Ltd and others. It can produce up to 360,000 barrels … Read more
December 12, 2019 Reuters The government will take into account its plan to make Canada carbon neutral by 2050 when it considers whether to approve Teck Resources Ltd’s plan for a giant oil sands mine, the new environment minister said on Thursday.Teck wants approval for its C$20.6 billion ($15.5 billion) Frontier project, which involves an open … Read more
By Michael Bellusci Dec 12, 2019 (Bloomberg) Energy equity carnage was alive and well throughout 2019, and the start of 2020 could bring more of the same for the beaten-up sector, though some analysts are turning positive.“We are in an environment where the playbook to kick off the year reads like a rinse and repeat from … Read more
The Canadian Press Conservative leader Andrew Scheer addresses the media during a morning announcement in Toronto Tuesday, October 1, 2019. , The Canadian Press OTTAWA — Andrew Scheer is stepping down as a Conservative leader. He told his caucus this morning. The decision comes less than two months after a disappointing election result and after … Read more
By Lorcan Roche Kelly Dec 12, 2019 (Bloomberg) Tariff deadline nears, ECB decision day, and voting underway in U.K. election. Here are some of the things people in markets are talking about today. Close A Chinese Ministry of Commerce spokesman said that trade teams from his country and the U.S. remain in close contact as Sunday’s deadline for higher tariffs … Read more
By Grant Smith Dec 12, 2019 (Bloomberg) Global oil markets still face a surplus next year even if OPEC and its partners deliver newly-announced production cuts in full, the International Energy Agency said.Oil inventories may accumulate by 700,000 barrels a day in the first quarter even if the Organization of Petroleum Exporting Countries and its allies … Read more
By Ann Koh and Grant Smith Dec 12, 2019 (Bloomberg) Oil rebounded from the previous session’s loss, though the outlook remained clouded by rising U.S. stockpiles and concern that OPEC and its allies aren’t taking enough action to balance the market.Futures added 0.1% to trade near $59 a barrel in New York. American gasoline inventories surged … Read more
By Kevin Crowley Dec 11, 2019 (Bloomberg) Abundant natural gas resources, an all-electric plant and just a nine-day hop to energy-hungry Asian markets were not enough to convince Chevron Corp. to pursue its Kitimat gas export project in western Canada, marking a further blow to the country’s beleaguered fossil fuel industry. The U.S. oil giant called … Read more
Projected 10 Times Increase in Net Operating Income December 12, 2019| Source: Pieridae Energy Limited NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN UNITED STATES Highlights: Net operating income (“NOI”)1 growth to $80-$110 million with recent acquisition synergies Production in 2020 of 40,000-50,000 boe/d, a 230% to 290% increase over Q3 exit production $10.50-11.50/boe … Read more
December 11, 2019 CNW Schedules January 14, 2020 Special Meeting of Securityholders CALGARY, Dec. 11, 2019 /CNW/ – Encana Corporation (NYSE, TSX: ECA) today filed its definitive Proxy Statement/Prospectus with the U.S. Securities and Exchange Commission and Canadian securities regulatory authorities related to its intention to establish corporate domicile in the United States. The Special Meeting of Securityholders is planned for January … Read more
December 11, 2019 PR Newswire CALGARY – TORC Oil & Gas Ltd. (“TORC” or the “Company”) (TSX: TOG) is pleased to announce the Company’s Board of Directors has approved an initial 2020 capital budget of $190 million. TORC’s strategic objectives associated with the 2020 capital budget are consistent with the Company’s long term objectives of achieving disciplined per share … Read more
CALGARY — A major player in Calgary’s depressed office real estate industry is putting dozens of Alberta office buildings under court protection from creditors while it tries to sell them.
Riaz Mamdani, CEO of Strategic Group, says the move is being m…
CALGARY — Chevron Corp. says it is looking to sell its 50 per cent stake in the Kitimat LNG Project in British Columbia.
The move comes as the company looks to cut spending on some investments and take a charge of at least US$10 billion because lower …
Name better reflects the Company’s technology uniqueness for intelligent visual monitoring and analytics. HOUSTON AND CALGARY, December 12, 2019 – Osprey Informatics (“Osprey”), a leader in AI-driven computer vision and intelligent visual monitoring for the industrial sector has changed its name to Osperity. The new name better reflects the company’s technology uniqueness for intelligent visual monitoring … Read more
by CEC Staff David Durda at his office with the Three Percent Project handout that was given to his son in school in Airdrie, Alberta, December 5, 2019. David Durda is normally happy to have his 15-year-old son exposed to as many points of view as possible. But the Airdrie, Alberta dad was deeply troubled … Read more
LANIGAN, Sask. — The Transportation Safety Board says Monday’s fiery Canadian Pacific Railway freight train derailment in Saskatchewan involved the estimated release of 1.5 million litres of oil.
The resulting fire forced the temporary closure of High…
The Canadian Energy Centre launched on December 11, 2019 to help raise understanding of the Canadian energy sector’s value to this country and the world, through the sharing of knowledge, facts and ideas. https://youtu.be/Z2_AsaHmwKA
RIYADH, Saudi Arabia — Saudi Arabian oil company Aramco surpassed Apple as the world’s most valuable public company Wednesday when its shares made their debut on the Saudi stock exchange, part of an ambitious shift away from the very fossil fuels the …
Former premier of Saskatchewan Brad Wall discusses why Canada should take nuclear power development more seriously.
CALGARY — Alberta Premier Jason Kenney has officially opened what he has called a war room to fight what he says is a campaign of lies about the province’s energy industry.
Kenney announced in Calgary today that the new $30-million Canadian Energy Cen…
By Filipe Pacheco, Matthew Martin and Will Kennedy Dec 11, 2019 (Bloomberg) Saudi Aramco shares surged after the oil producer’s initial public offering, valuing the company at a record $1.88 trillion in the culmination of a four-year effort by the kingdom to list its crown jewel.The stock jumped the daily 10% limit to 35.20 riyals when … Read more
By Lorcan Roche Kelly Dec 11, 2019 (Bloomberg) Fed day, the first day of trading for the world’s biggest listed stock and the last day of campaigning for the U.K. election. Here are some of the things people in markets are talking about today. Decision day Not a single economist surveyed by Bloomberg expects the Federal … Read more
By Sharon Cho and Grant Smith Dec 11, 2019 (Bloomberg) Oil retreated from its highest close in almost three months after an industry report showed American crude inventories expanded last week, adding to signs that supplies will remain abundant next year.Futures in New York dropped as much as 0.7% after settling above $59 a barrel on … Read more
By Theophilos Argitis Dec 10, 2019 (Bloomberg) Canadians are nervous the nation’s economy is veering toward a recession next year. In a survey for Bloomberg News by Nanos Research Group, 56% of Canadians said there’s at least a “somewhat likely” chance a recession will hit in 2020 — a sentiment broadly held across regions, gender and … Read more
December 11, 2019 | Source: CUDA Oil and Gas CALGARY, Alberta, Dec. 11, 2019 (GLOBE NEWSWIRE) — Cuda Oil and Gas Inc. (“Cuda” or the “Company”) (TSXV: CUDA) is pleased to announce that full scale injection operations have commenced at the Barron Flats Shannon Unit (“SSRU”) in Converse County, Wyoming. Glenn Dawson, President and Chief Executive … Read more
December 10, 2019 Globe Newswire CALGARY – Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) remains committed to delivering increasing shareholder value through cost leadership, capital discipline and continued safe and reliable operations. These commitments, combined with its top-tier upstream assets, successful crude-by-rail program and joint ownership in two high-performing U.S. refineries, position Cenovus to continue … Read more
December 10, 2019 Reuters The discount on Canadian heavy crude widened versus U.S. benchmark West Texas Intermediate (WTI) crude on Tuesday, as stockpiles remained elevated due to transportation constraints.“The train that derailed in Saskatchewan caused much damage to the track so it might take a few more days or even a week and a bit to … 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. When it comes to calculating liability obligations and dealing with your retirement … Read more
With an increase in the number of pipeline failures resulting from earth movement of unstable slopes, the AER recently released Bulletin 2019-28 which requires that pipeline integrity management programs take slope movement into consideration. In this bulletin, the AER encourages all operators to: Assess integrity management programs and how they address risk to pipelines as … Read more
Surrey, BC, December 11, 2019 – Falcon Equipment Ltd. has announced their exclusive partnership with Palfinger AG. Beginning December 11, 2019, Falcon will be providing sales, rentals, service and parts support for all Palfinger products throughout British Columbia, Alberta, Saskatchewan and Manitoba. As of December 10, 2019, Falcon will no longer be the official … Read more
With 2019 coming to a close and the new year just around the corner, Hy-Lok Canada is proud to celebrate a successful end of the decade with our clients. As a leading manufacturer and supplier of the top fluid systems valve and components, Hy-Lok is pleased to assist customers from a wide variety of industries, … Read more
2019 CIRT Sentiment Index The CIRT Sentiment Index is a survey, conducted quarterly by FMI, of members of the Construction Industry Round Table. The CIRT is composed exclusively of approximately 115-120 CEOs from the leading architectural, engineering and construction firms doing business in the United States. CIRT is an organization that is uniquely situated to … Read more
By Morgan Fraser A Safety Data Sheet (SDS) provides basic information on a material or chemical product. It describes the properties and potential hazards of the material, how to use it safely, and what to do in the case of an emergency. The purpose of an SDS is to assist employees in understanding and clarifying this type … Read more
December 10, 2019 Reuters Canadian Prime Minister Justin Trudeau has an unusual challenge as he seeks to charm angry westerners who fear he will destroy the region’s oil and gas industry – the legacy of his father, who was reviled in much of the west for his energy policies. Pierre Trudeau, also a Liberal prime minister, … Read more
December 10, 2019 CNW CALGARY – Pembina Pipeline Corporation (“Pembina” or the “Company”) (TSX: PPL; NYSE: PBA) is pleased to announce the results of voting at the special meetings of the Kinder Morgan Canada Limited (“Kinder Morgan Canada”) (TSX: KML, KML.PR.A, KML.PR.C) holders of restricted voting shares and special voting shares and the holders of preferred … Read more
By Sherry Su December 8, 2019 The start-up of a giant new oil field in Norway’s part of the North Sea has led to a surge in shipments from the region to Asia. About 18 million barrels of North Sea oil got shipped to Asia last month, more than double October’s levels, according to tanker tracking compiled … Read more
LANIGAN, Sask. — Saskatchewan’s public safety agency says crews are working in frigid temperatures as they continue to battle a fire that started when a freight train carrying crude oil derailed.
The province says crews are taking precautions as Envir…
NEW YORK — Exxon Mobil won Tuesday in a closely watched lawsuit over the costs of climate change, with a judge saying there was no proof the energy giant duped investors about the toll that regulations could take on its business.
New York Attorney Gen…
December 10, 2019 CNW CALGARY – Enbridge Inc. (Enbridge or the Company) (TSX:ENB)(NYSE:ENB) announced its 2020 dividend and financial guidance and provided an update on its strategic priorities, which will be further discussed at the Company’s investor conference today in New York. Highlights A 9.8% increase in the Company’s common share dividend to $0.81/quarter ($3.24 annually), effective March 1, 2020. Updated … Read more
By Sharon Cho and Grant Smith Dec 9, 2019 Dec 10, 2019 (Bloomberg)Oil was steady near a 12-week high in New York, supported by signs of falling American crude inventories yet capped by continuing salvos in the U.S.-China trade dispute.West Texas Intermediate futures were little changed. U.S. crude stockpiles fell by 2.5 million barrels last … Read more
By Susanne Barton Dec 10, 2019 (Bloomberg) The Canadian dollar’s outperformance this year stunned many, but strategists are not expecting a repeat in 2020 — casting doubt on its run as one of the best major currencies. Just last week, the nation’s central bank cited a tightening labor market as a main reason why it can … Read more
By Mikael Holter Dec 9, 2019 (Bloomberg) Greta Thunberg and 15 other youth climate activists urged Norway and Canada to wind down their oil and gas production, which they said violates children’s rights around the world.In letters to the prime ministers of both countries, the campaigners contrasted their self-professed roles as international leaders in the fight … Read more
By Lorcan Roche Kelly Dec 10, 2019 (Bloomberg) House set to unveil articles of impeachment, Deutsche Bank says it won’t need more capital, and repo worries continue. Here are some of the things people in markets are talking about today. House rules The leaders of the House committees running the inquiry into President Donald Trump will announce two … Read more
December 09, 2019 | Source: Pan Orient Energy Corp. CALGARY, Alberta, Dec. 09, 2019 (GLOBE NEWSWIRE) — Pan Orient Energy Corp. (“Pan Orient”) (POE – TSXV) provides an operations update. INDONESIA East Jabung Production Sharing Contract (Pan Orient 49% & Non Operator) Drilling of the Anggun-1X exploration well commenced on November 14, 2019 and has reached a … Read more
December 9, 2019 Globe Newswire CALGARY – (CJ:TSX) Cardinal Energy Ltd. (“Cardinal” or the “Company”) is pleased to announce that its Board of Directors has approved an operating and capital budget for 2020 that will focus on debt reduction, a sustainable dividend, operating costs reductions and increasing production volumes. Cardinal also announces that the Toronto Stock … Read more
December 9, 2019 Globe Newswire CALGARY – Gibson Energy Inc. (“Gibson” or the “Company”) (TSX: GEI), announced today that its Board of Directors has approved a 2020 growth capital expenditure budget of approximately $300 million, comprised predominantly of sanctioned growth projects. Additionally, the Board of Directors has approved the allocation of approximately $25 million in replacement … Read more
CALGARY — The CEO of Enbridge Inc. says an updated environmental review released by a Minnesota state agency on Monday is a “good outcome” but declined to speculate on when its oft-delayed Line 3 pipeline replacement project will be completed.
The sta…
CALGARY — Cenovus Energy Inc. plans to increase its capital spending in 2020 compared with this year.
The energy company says it plans to invest between $1.3 billion and $1.5 billion in 2020, up from between $1.1 billion and $1.2 billion in 2019.
Ceno…
December 9, 2019 Reuters The discount on Canadian heavy crude eased versus U.S. benchmark West Texas Intermediate (WTI) crude on Monday, but remained at relatively high levels due to large inventories and strained transport.High stockpiles need to ease for the heavy differential to narrow substantially, a Calgary-based energy source said. Western Canadian oil stocks climbed … Read more
MINNEAPOLIS — An updated environmental review released by a state agency Monday found no serious threat to Lake Superior if crude oil ever leaked from a new pipeline to replace Enbridge Energy’s aging Line 3 across northern Minnesota.
State regulators…
Dec 9 (Reuters) – Enbridge Inc and Enterprise Products Partners LP on Monday signed an agreement to jointly develop a deepwater offshore crude oil export terminal in the Gulf of Mexico capable of loading Very Large Crude Carriers. Both pipeline operators will work to finalize an equity participation agreement that would provide Enbridge an option … Read more
Houston, Texas (December 9, 2019) –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 programs. STEP Energy Services’ (STEP) team of professionals are the experts in e-coil conveyance of downhole telemetry technologies, which is one segment of the STEP-IQ suite of products. … Read more
REGINA — Management at Regina’s Co-op Refinery say they are flying replacement staff in by helicopter during an ongoing labour dispute.
About 700 unionized workers were locked out last week after serving strike notice.
Federated Co-operatives Limited …
By Lorcan Roche Kelly (Bloomberg) Tariff deadline, U.K. election, and monetary policy. Here are some of the things people in markets are talking about today. Tick tock With a new round of U.S. tariffs on China set to kick in at the end of this week, pressure on trade officials is mounting to make sufficient progress … Read more
By Sharon Cho and Rakteem Katakey Dec 9, 2019 (Bloomberg) Oil fell from the highest close in almost 12 weeks as the effects of the U.S.-China trade war countered Saudi Arabia’s surprise move to take additional crude barrels out of the market.Futures in New York slipped 1.1% after climbing 1.3% on Friday. The kingdom voluntarily pledged … Read more
By Alfred Cang and Jasmine Ng Dec 9, 2019 (Bloomberg) China announced the creation of its long-planned national oil and gas pipeline company, officially kicking off one of its biggest energy revamps aimed at helping supply keep pace with swelling demand. The move marks a “key step” in China’s efforts to deepen reforms of its oil … Read more
December 09, 2019 | Source: Petrus Resources Ltd. CALGARY, Alberta, Dec. 09, 2019 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to announce that it has entered into an agreement for the sale of its oil and natural gas interests in the Foothills area of Alberta to an arm’s length … Read more
December 09, 2019 | Source: Canacol Energy Ltd. CALGARY, Alberta, Dec. 09, 2019 (GLOBE NEWSWIRE) — Canacol Energy Ltd. (“Canacol” or the “Corporation”) (TSX:CNE; OTCQX:CNNEF; BVC:CNEC) is pleased to announce it has successfully secured a 100% operated working interest in three new conventional gas exploration contracts in the recent bid round (Proceso Permanente de Asignación de … Read more
Calgary, Alberta–(Newsfile Corp. – December 9, 2019) – Briko Energy Corp. (“Briko” or the “Corporation”) is pleased to announce that it has executed a purchase and sale agreement (“PSA”) to acquire complementary Cardium oil and natural gas assets in the Alberta foothills (the “Complementary Assets”) with an effective date of November 1, 2019. In addition to … Read more
December 6, 2019 Reuters U.S. energy firms reduced the number of oil rigs operating for a seventh week in a row as year-long declines in the rig count have only curbed growth of record U.S. production, prompting OPEC to deepen cuts in an effort to bolster prices amid a global glut.Drillers cut five oil rigs in … 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
Fabric Membrane Structures installed by G&B Portable Fabric Buildings Author: Nancy Abrams Remote sites are the perfect fit for fabric structures. The entire building is pre-fabricated, pre-engineered and can be engineered site specific for geographic loads. Remote site’s require organization and the ability to maintain the integrity of the site, safety for the employees … Read more
This article was originally published on blog.paradoxaccess.com By Charles Proulx As humans, we seek to innovate. We push the bounds of what technology can accomplish in order to improve our quality of living. This can happen as a result of the development of new technologies and procedures, or as a result of improvements to existing technologies and … 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
Turn your waste glycol to revenue, your team will thank you! Thousands of Hero’s to Zero have eliminated their waste&saved their disposal costs teaming up with Clear GSI instead. The central alberta business claim to fame is paying for waste glycol, used antifreeze and oil/glycol mixes to ensure it’s recycled rather than disposed of which … Read more
EDMONTON — The latest job numbers from Statistics Canada are disappointing, said Alberta Premier Jason Kenney, but he’s expecting the situation will soon turn around.
The agency reported that Canada lost 71,200 jobs last month and the unemployment rat…
Canada’s drilling rig count is up 12 actively drilling rigs according to data collected by Baker Hughes for the week ending December 6, 2019. From one week ago, Alberta rig counts increased 5 to 91 and the Saskatchewan rig counts increased 8 to 33. Oil drilling increased 10 to 87 and gas increased 2 to … Read more
OTTAWA — Alberta Premier Jason Kenney and eight of his cabinet ministers will be in Ottawa today as part of a trip to meet their federal counterparts.
Kenney will speak at the Canadian Club this afternoon and later host a reception.
He is also schedul…
Scheer laid the blame for what he deems is a ‘national unity crisis’ on the environmental policies adopted by Prime Minister Justin Trudeau Parliament got down to work Friday with Andrew Scheer staking out the Conservatives’ ground as the only party that will unabashedly support the energy sector and never relent on its opposition to … Read more
By Will Kennedy, Javier Blas and Nayla Razzouk (Bloomberg)Prince Abdulaziz bin Salman has attended OPEC meetings for three decades, but this was the first time he’s been the star turn.For two days, Saudi Arabia’s new oil minister appeared to have stage fright. As he shuttled between Vienna’s ultra-luxury Park Hyatt hotel and the headquarters of … Read more
December 6, 2019 CNW CALGARY, Dec. 6, 2019 /CNW/ – Jupiter Resources Ltd. and its affiliates (collectively, “Jupiter” or the “Company”) have received a further extension to the maturity date, associated with the Company’s existing senior secured reserve-based revolving credit facility (the “RBL Facility”), until December 18, 2019. The commitments under the RBL Facility will be limited to … Read more
EDMONTON — Alberta Premier Jason Kenney will meet Tuesday with Prime Minister Justin Trudeau in Ottawa to discuss issues ranging from pipelines to equalization.
Kenney says he and eight of his cabinet ministers will be in the nation’s capital early ne…
December 6, 2019 Reuters The discount on Canadian heavy crude was unchanged versus U.S. benchmark West Texas Intermediate (WTI) crude on Friday, trading at a wider than usual level.Prices were supported by the Keystone pipeline returning to near 90% utilization following a spill in North Dakota Oct. 29, said John Coleman, principal analyst for North American … Read more
December 6, 2019 PR Newswire GATINEAU – Canadians see the costs of a changing climate all around them. Climate change is driving stronger storms, wildfires, and record-breaking heatwaves. Canadians also know that taking climate action is an enormous opportunity to create jobs and advance economic growth. A price on pollution is one of the best tools we … Read more
REGINA — A contract dispute between management and unionized workers at Regina’s Co-op Refinery could affect fuel supplies in some parts of Western Canada if a deal isn’t reached soon, Saskatchewan’s minister of labour said Friday.
The government will…
By Grant Smith, Annmarie Hordern, Laura Hurst and Nayla Razzouk Dec 6, 2019 (Bloomberg)OPEC+ will adjust its output target and redistribute production cuts between its members under pressure from Saudi Arabia, which has long carried an outsized share of the burden.The group, which pumps more than half the world’s oil, agreed in Vienna on Friday … Read more
By Will Mathis (Bloomberg) One of the world’s biggest developers of offshore wind farms thinks its massive turbines could be key to the production of hydrogen in a greener way and ultimately, stemming climate change.Over the past decade, offshore wind has pushed from a frontier technology to a multi-billion-dollar industry that provides green power cheap enough to … Read more
By Heesu Lee and Alex Longley Dec 6, 2019 (Bloomberg) Oil traded near $58 a barrel as the market awaited crucial details on how OPEC+ will distribute cuts among its members.Futures slipped 0.3% in New York having been whipsawed throughout the previous session after six hours of fraught OPEC ministerial talks. The group agreed to adjust its output … Read more
By Lorcan Roche Kelly and Sid Verma Dec 6, 2019 (Bloomberg) It’s jobs day, more signs of progress on trade deal, and the oil market awaits OPEC details. Here are some of the things people in markets are talking about today. Payrolls Employers are forecast to have added 183,000 positions in November, keeping the unemployment rate at 3.6% … Read more
December 05, 2019 | Source: Canadian Premium Sand Inc. NOT FOR DISTRIBUTION IN THE UNITED STATES OR DISSEMINATION OVER UNITED STATES NEWSWIRE SERVICES. CALGARY, Alberta, Dec. 05, 2019 (GLOBE NEWSWIRE) — Canadian Premium Sand Inc. (“CPS” or the “Company”) (TSXV: CPS) is pleased to announce that it intends to conduct a non-brokered private placement (the “Offering“) of secured convertible … Read more
December 5, 2019 Reuters The discount on Canadian heavy crude narrowed versus U.S. benchmark West Texas Intermediate (WTI) crude on Thursday, due to stronger demand and reduced production from the Syncrude oil sands site.The slight narrowing reflected some buyers being short and favorable arbitrage opportunities, a trader said. Western Canada Select (WCS) heavy blend crude for … Read more
December 5, 2019 CNW CALGARY – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX: IPL) announced today a $1.2 billion capital expenditure program for 2020. Approximately $1.1 billion of total capital expenditures will be for organic growth initiatives, with the remaining invested in sustaining capital projects. Capital Expenditure Summary 2020 Forecast (millions) Growth Capital NGL Processing $980 Conventional Oil Pipelines 45 Oil Sands … Read more
December 5, 2019 Reuters Alberta’s congested pipelines and production limits are turning oil companies to neighboring Saskatchewan, driving up prices for drilling rights as the region weathers a deep slump. A survey of senior executives last month by the Fraser Institute said Saskatchewan was Canada’s most attractive jurisdiction for upstream oil and gas investment. Saskatchewan produces … Read more
850+ Attendees 50+ Presentations 80+ Exhibitors 2020 features amazing keynote speakers and the opportunity to expand your pressure integrity skills and knowledge. Meet us in Banff to network with your industry peers! More presentations! More time to check out the exhibits! A conference app to you build “your” personalized schedule! New student program! Pre-conference … Read more
Q&A with Vivek Warrier Vivek Warrier, Partner, Co-Lead National Energy Industry Team at Bennett Jones LLP recently moderated the panel on Gas and LNG in North America at the Oil & Gas Council’s recent North American Assembly in Houston. Panel members were: Eric Dyer – CFO, Tamboran Resources Greg Vesey – Chief Executive Officer & … Read more
CALGARY — The developer of a 12,000-barrel-per-day thermal oilsands project approved Thursday by the Alberta government says actually going ahead with construction depends largely on when new pipelines can be in service.
President Serge Bisson of priv…
CALGARY — The Canada Energy Regulator says it has approved an application from Chevron Canada for a 40-year licence to export natural gas from the proposed Kitimat LNG project despite environmental opposition.
The application filed last spring to the …
OTTAWA — Justin Trudeau ushered in a new era of minority Liberal rule Thursday with a throne speech brimming with humility, goodwill and promises of collaboration with opposition parties whose support he needs to ensure his government’s survival.
The …
MEMO DATE: December 5, 2019 TO: All CAODC Members FROM: Mark Scholz SUBJECT: Alberta Government Amends Curtailment Rules Please be advised that the Alberta Government has finalized amendments to Section 3 of the Curtailment Rules to allow production from any conventional oil wells with a spud date of November 8, 2019 or later to be … Read more
December 5, 2019 Newswire CALGARY – Paramount Resources Ltd. (“Paramount” or the “Company”) is pleased to announce that it has closed the sale of certain natural gas weighted properties in West Central Alberta (the “Assets”) for cash consideration of approximately $55 million (the “Transaction”). Paramount will retain all of its Duvernay assets in both Willesden Green and the East Shale … Read more
December 5, 2019 Newsfile Calgary, Alberta – Bonavista Energy Corporation (TSX: BNP) (“Bonavista” or the “Company”) is pleased to announce the acquisition of certain oil and liquids rich natural gas weighted properties (the “Acquired Assets”) located within our West Central Alberta core area (the “Acquisition“) which are synergistic to our existing operations, complementary to our development … Read more
By Lorcan Roche Kelly Dec 5, 2019, (Bloomberg) Time is running short for a trade agreement, OPEC meeting begins, and more mixed data from Europe. Here are some of the things people in markets are talking about today. Tariff reduction A Chinese Ministry of Commerce spokesperson said that officials remain in close contact with their U.S. counterparts, reiterating tariffs … Read more
By Alex Longley Dec 5, 2019 (Bloomberg) Oil swung between gains and losses as speculation mounted about OPEC’s decision on production policy.Futures rose 0.6% in New York after jumping 4.2% on Wednesday, the biggest gain since the attacks on Saudi Arabia’s energy facilities. Saudi Arabia is offering fellow OPEC+ members a quid pro quo to stop cheating in … Read more
By Javier Blas, Grant Smith and Annmarie Hordern Dec 5, 2019 (Bloomberg) Saudi Arabia is offering fellow OPEC+ members a quid pro quo: If you stop cheating, we’ll curb production.With just hours to go before the Organization of Petroleum Exporting Countries’ meeting in Vienna, it was unclear if the kingdom was offering to return to its … Read more
December 04, 2019 | Source: TGS CALGARY, Alberta (4 December 2019) – TGS announced today the commencement of its 2020 South Halfway 3D onshore seismic survey, amplifying its core position in the Inga/Fireweed area of North East British Columbia (B.C.) in Canada. The South Halfway 3D is the second multi-client onshore project this winter season in the … Read more
December 4, 2019 Globe Newswire CALGARY – Altura Energy Inc. (“Altura” or the “Corporation”) (TSXV: ATU) is pleased to announce it has entered into a definitive agreement for an asset sale with a private company (“PrivateCo”). Under the terms of the agreement, PrivateCo will acquire a 12.5% working interest (the “Disposition Assets”) in the Corporation’s production, … Read more
December 4, 2019 CALGARY, Alberta, Dec. 04, 2019 (GLOBE NEWSWIRE) — Baytex Energy Corp. (“Baytex”) (TSX, NYSE: BTE) announces that its Board of Directors has approved a 2020 capital budget of $500 to $575 million, which is designed to generate average annual production of 93,000 to 97,000 boe/d. The Board of Directors is also pleased … Read more
CALGARY — Canadian Natural Resources Ltd. says its 2020 capital budget will be $250 million higher than last year as it adds about 60 drilling locations across Alberta and puts three additional rigs to work.
The company says the increased spending wil…
December 4, 201912:08 PM Reuters Canada’s Syncrude oil sands facility has reduced its December production by 1.6 million barrels due to operational problems, three market sources told Reuters on Wednesday.Syncrude is a joint venture majority owned by Suncor Energy Inc , with minority stakes held by Imperial Oil Ltd and others. It can produce up … Read more
December 4, 2019 Reuters The discount on Canadian heavy crude narrowed versus U.S. benchmark West Texas Intermediate (WTI) crude, and light oil sold at a premium on Wednesday, after the Syncrude oil sands site cut December production. Canada’s Syncrude oil sands facility has reduced its December production by 1.6 million barrels because of operational problems, three … Read more
December 4, 2019 Reuters The Co-op Refinery in Regina, Saskatchewan, western Canada’s third-largest oil refinery, plans to lock out workers on Thursday but continue operations.The refinery, owned by Federated Cooperatives Ltd, tweeted on Tuesday that it had issued a 48-hour lockout notice to 800 workers in the interest of public safety, after their union issued a … Read more
December 4, 2019 Business Wire LINO LAKES, Minn. – The Line 3 Replacement Project, the largest privately financed construction project in Minnesota history, has celebrated a major milestone. Representatives from four trade and labor unions held a ceremonial signing of a project labor agreement with Enbridge guaranteeing it will be built solely by union labor. The … Read more
December 4, 2019 Reuters Canadian National Railway Co’s chief executive on Wednesday said crude-by-rail shipments may help earnings during the first three months of 2020, despite softer market conditions overall.CN, Canada’s largest railroad, is ramping up its service following a crippling eight-day strike that ended last week, as it cuts jobs to meet softer economic conditions … Read more
By Lorcan Roche Kelly Dec 4, 2019 (Bloomberg) U.S. and China move closer to trade deal, House impeachment vote all but certain, and Aramco pricing may be at top end. Here are some of the things people in markets are talking about today. Despite everything… Recently there has been a lot that looked like it might derail … Read more
By Matthew Martin, Archana Narayanan and Will Kennedy Dec 4, 2019 (Bloomberg) Saudi Aramco is considering pricing its initial public offering at the top end of a marketed range, which would make it the world’s biggest-ever new listing, people with knowledge of the matter said.The Gulf energy giant has discussed pricing its IPO shares at 32 … Read more
By Javier Blas, Salma El Wardany and Laura Hurst Dec 4, 2019 (Bloomberg) Saudi Arabia and the United Arab Emirates remained silent over Iraq’s proposal to deepen OPEC+ production cuts, leaving the market to speculate about the group’s plans before crucial talks in Vienna this week.Iraq, which has the worst record among major producers of implementing … Read more
By Sheela Tobben Dec 3, 2019 (Bloomberg) Oil rose for a second day as investors focused on the upcoming OPEC+ meeting that could lead to deeper supply cuts by some of the world’s biggest crude producers.Futures edged higher in New York on Tuesday to the highest settlement in almost a week. Members of the Organization of … Read more
December 03, 2019 | Source: Pengrowth Energy Corporation CALGARY, Alberta, Dec. 03, 2019 (GLOBE NEWSWIRE) — Pengrowth Energy Corporation (“Pengrowth” or the “Company”) (TSX:PGF, OTCQX:PGHEF) today announced that a second leading proxy advisory firm, Glass, Lewis & Co., LLC (“Glass Lewis”), released a report (the “Glass Lewis Report“) recommending that Pengrowth shareholders vote in favour of … Read more
December 04, 2019 | Source: Canadian Natural Resources Limited CALGARY, Alberta, Dec. 04, 2019 (GLOBE NEWSWIRE) — Commenting on the Company’s 2020 budget, Steve Laut, Executive Vice-Chairman of Canadian Natural stated, “Canadian Natural’s ability to generate significant and sustainable free cash flow sets us apart from our peers. Our focus on capital discipline, as a part … Read more
December 3, 2019 Newsfile Calgary – Pine Cliff Energy Ltd. (TSX: PNE) (“Pine Cliff” or the “Company”) announces the resignation of Cheryne Lowe, Pine Cliff’s Chief Financial Officer and Corporate Secretary to pursue other opportunities, effective December 4th, 2019. The Company would like to thank Ms. Lowe for her leadership and contributions and wish her all the best … Read more
CALGARY — Gibson Energy Inc. says it will build a 100,000-barrel-per-day diluent recovery unit near the Alberta oil marketing hub of Hardisty, a strategy expected to free up room in pipelines and on railcars for oilsands exports.
The Calgary-based com…
ACHESON, Alta. — The CEO of Trans Mountain says he’s “a little greyer” than he was 10 years ago when planning began for an expansion of the Edmonton-to-Burnaby oil pipeline but he’s still proud to oversee the official launch of Alberta construction.
I…
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. Every few months, we like to take a look at expiring land … Read more
STEP is pumping more hours per day than almost any other fracturing service provider in North America. And when time is money, seconds matter. Efficiency is a driving force of STEP’s business strategy and a building block of the Exceptional Client Experience. As we continue to make growth a priority, finding efficiencies in our operations … Read more
Hydrotransport slurry pipelines are particularly susceptible to abrasive wear. High solids content, large particle size, flow stream velocity and corrosive fluids work together synergistically to attack and wear down pipeline materials. The pipelines transport a mixture of oil sand and process water from ore preparation plants – near the active oil sands mining area – … Read more
Formerly working in parallel as sister companies, FlexEnergy and Flex Leasing Power and Service joined to form Flex Energy Solutions so as to maximize resources, market potential, and offer additional financing solutions to valued customers. The unification provided an ideal opportunity for a website redesign. DECEMBER 2019 Flex Energy Solutions, the premier manufacturer of ultra-clean, … Read more
December 3, 2019 PR Newswire CALGARY – Today, the Canada Energy Regulator (CER) released its long-term energy outlook that explores how new technologies, infrastructure developments and climate policy will impact Canadian energy consumption and production trends over the next 20 years. Canada’s Energy Future 2019: Energy Supply and Demand Projections to 2040 shows that while domestic fossil fuel consumption … Read more
December 3, 2019 Reuters The discount on Canadian heavy crude widened to a nearly one-month high versus U.S. benchmark West Texas Intermediate (WTI) crude on Tuesday due to high inventory levels.Western Canada Select (WCS) heavy blend crude for January delivery in Hardisty, Alberta, was trading at $22.40 per barrel below WTI, according to NE2 Canada Inc, … Read more
CALGARY — Slower growth in domestic fossil fuel consumption is expected over the next 20 years as Canadians use more renewable energy and cut their energy use per capita, according to a new forecast from the Canada Energy Regulator.
But the CER report…
CALGARY — Oilsands giant Suncor Energy Inc. says it will keep capital spending related to its oil operations flat next year while moving forward with a new $300-million wind power project in southern Alberta.
The Calgary-based company says its capital…
REGINA — The Federated Co-operatives Limited refinery in Regina has issued a lockout notice to its union workforce that is to go into effect at 5:30 p.m. Thursday.
Gil Le Dressay, vice-president of operations at the refinery, said the company is takin…
By Will Kennedy and Kelly Gilblom Dec 2, 2019 (Bloomberg) Since 1980, the year Saudi Aramco was fully nationalized, the world’s largest oil producer has pumped about 116 billion barrels of crude oil from giant fields below the kingdom’s desert and the waters of the Persian Gulf.At today’s rate of consumption that crude would keep the … Read more
By Lorcan Roche Kelly Dec 3, 2019 (Bloomberg) China-U.S. trade talks under threat, France is latest Trump tariff target, and another retail record. Here are some of the things people in markets are talking about today. Worth waiting for? President Donald Trump suggested that he would be happy to wait until after the 2020 election to do a trade … Read more
By Heesu Lee and Alex Longley Dec 3, 2019 (Bloomberg) Oil slipped below $56 as U.S. President Donald Trump said there may be a long wait for a trade agreement with China, casting doubt about the strength of demand just days before the OPEC+ meeting.Futures fell 0.6% in New York, erasing earlier gains. Trump said he … Read more
By Kevin Orland Dec 3, 2019 (Bloomberg) Capital spending in Canada’s oil-sands reserves look set to continue to dwindle as pipeline bottlenecks persist and the Alberta government’s production limits remain in place.Husky Energy Inc. said early Monday that it’s cutting capital spending for 2020 and 2021 by a total of C$500 million ($375 million), and Suncor … Read more
MONTREAL — Caltex Australia Ltd., Australia’s largest retail fuel and convenience chain, is rejecting a $7.7-billion takeover offer from Alimentation Couche-Tard Inc., however it is giving the Canadian company a chance to increase its bid.
The Austral…
By Robert Tuttle Dec 2, 2019 (Bloomberg) Canada’s struggling oil sands industry has a plan to cut costs while exporting more of their crude: Make it even heavier. Companies including Cenovus Energy Inc., Gibson Energy Inc., Imperial Oil Ltd. and MEG Energy Corp. are looking to remove condensate and other light oils from the oil-sands bitumen … Read more
December 2, 2019 Reuters The premiers of Canada’s provincial and territorial governments began meeting on Monday to discuss their demands to Prime Minister Justin Trudeau’s new government as frustration simmers in the Western oil patch.The group, known as the Council of the Federation, is gathering for the first time since Trudeau’s Liberals failed to win a … Read more
By James Herron Dec 2, 2019 (Bloomberg) —Repsol SA embarked on the most ambitious attempt yet by an oil major to align itself with the Paris climate goals, saying it will eliminate all greenhouse gas emissions from its own operations and its customers by 2050.The Spanish giant’s exploration and production unit will focus on value … Read more
December 2, 2019 Globe Newswire All financial figures are in Canadian dollars, unless noted otherwise CALGARY – Suncor released its 2020 corporate guidance today which focuses on driving its $2 billion of incremental free funds flow target by 2023, achieving its 2030 sustainability targets, and reflects the company’s recent 800 MW cogeneration investment announcement. The capital … Read more
December 2, 2019 Reuters The discount on Canadian heavy crude widened slightly versus U.S. benchmark West Texas Intermediate (WTI) crude on Monday, the start of a new monthly trading cycle.Western Canada Select (WCS) heavy blend crude for January delivery in Hardisty, Alberta, was trading at $20.90 per barrel below WTI, according to NE2 Canada Inc, compared … Read more
On March 16th, 2019 Dwight and TaraLynn Bulloch of Capstone Oilfield Services Ltd. (Capstone) attended the 16th Annual Parents Quest for the Cure Gala in Calgary. This annual event raises money for Kids Cancer Care and not only were they impressed with how well the evening was organized, they were truly inspired by the speakers … Read more
A keen topic on my recent visit to the Middle East concerned cloud computing. Why is cloud computing a more fraught consideration in this part of the world? Cloud Computing on the Rise Two news stories about cloud computing and the oil and gas industry caught my eye this week. First, Cenovus finally went public with the … Read more
December 2, 2019 PR Newswire CALGARY – OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) is pleased to announce the appointment of Stephen E. Loukas as Interim President and CEO, effective December 5, 2019. Mr. Loukas will succeed current Interim President and CEO, Michael J. Faust, who will return to his prior … Read more
December 2, 2019 CNW CALGARY – MEG Energy Corp. (TSX:MEG) announced today it has successfully completed rail contracting to support its 2020 production guidance. On November 21, MEG announced 2020 production guidance of 94,000 to 97,000 bpd of bitumen which was dependent in part on the Corporation’s ability to re-contract a significant portion of its rail loading capacity … Read more
By Lorcan Roche Kelly Dec 2, 2019 (Bloomberg) Beijing sanctions on America avoid trade, Trump declines to participate in impeachment hearing, and there’s a lot to watch in European politics. Here are some of the things people in markets are talking about today. Reaction China’s first retaliation to the U.S. bill supporting pro-democracy movements in Hong Kong … Read more
By Alex Longley Dec 2, 2019 (Bloomberg) Oil rebounded from the biggest weekly loss since October on speculation that OPEC+ could defy expectations by deepening its production cuts.Futures surged as much as 2.7% in New York after plunging 5.1% on Friday. Iraq said OPEC and its allies will consider further output curbs at their meeting this … Read more
By Grant Smith Dec 2, 2019 (Bloomberg) OPEC’s crude production fell before ministers gather to discuss their strategy for next year, though more by accident than design.Angola, which has been suffering a decline for the past four years, saw output slide to the lowest in more than a decade. Iran’s production, already squeezed to the lowest … Read more
CALGARY — Husky Energy Inc. is cutting its capital spending plan for 2020 and 2021 by $500 million compared with its earlier guidance due to what it called changing market conditions. The company is reducing its capital spending for 2020 by $100 million to between $3.2 billion and $3.4 billion. The spending plan for 2021 … Read more
December 02, 2019 | Source: Granite Oil Corp. CALGARY, Alberta, Dec. 02, 2019 (GLOBE NEWSWIRE) — GRANITE OIL CORP. (“Granite” or the “Company”) (TSX:GXO)(OTCQX:GXOCF) is pleased to provide preliminary 2020 plans and announce the fall review of the Company’s borrowing base redetermination of its credit facility has been completed. Granite is planning a capital program in … Read more
December 02, 2019 | Source: Pan Orient Energy Corp. CALGARY. Alberta, Dec. 02, 2019 (GLOBE NEWSWIRE) — Pan Orient Energy Corp. (POE – TSXV), on behalf of its 71.8% owned subsidiary Andora Energy Corporation (“Andora”), is pleased to release the September 30, 2019 Contingent Bitumen Resources Report (“Resources Report”) which is a National Instrument 51-101 compliant … Read more
December 02, 2019| Source: Pengrowth Energy Corporation CALGARY, Alberta, Dec. 02, 2019 (GLOBE NEWSWIRE) — Pengrowth Energy Corporation (“Pengrowth” or the “Company”) (TSX:PGF, OTCQX:PGHEF) today announced that Institutional Shareholder Services Inc. (“ISS”), a leading independent proxy advisory firm, released a report (the “ISS Report“) recommending that Pengrowth shareholders vote in favour of the proposed arrangement (the … Read more
December 02, 2019 | Source: Husky Energy Inc. (This news release contains references to the non-GAAP financial measures “free cash flow”, and “net debt to funds from operations”. Please refer to “Non-GAAP Measures” at the end of this news release.) CALGARY, Alberta, Dec. 02, 2019 (GLOBE NEWSWIRE) — Husky Energy’s capital program for 2020 will be … Read more
Banner Advertising 50% Off! Energynow.com Advertising – 50% Discount (For a 3 month commitment) All advertising must be booked and paid for by the end of December 6th, 2019 Ad Start Date: January 1st, 2020 (or before) * All advertising contracts include a Premium SHOWCASE Profile & Publishing Rights on EnergyNow Publish Announcements, … Read more
Scott DiSavino (Reuters) – U.S. energy firms reduced the number of oil rigs operating for a record 12th month in a row after this week cutting rigs for a sixth consecutive week as producers slash spending on new drilling. Drillers cut three oil rigs in the week to Nov. 27, bringing the total count down … Read more
Canada’s drilling rig count is down 11 actively drilling rigs according to data collected by Baker Hughes for the week ending November 27, 2019. From one week ago, Alberta rig counts decreased 5 to 86 and the Saskatchewan rig counts decreased 6 to 25. Oil drilling decreased 9 to 77 and gas decreased 2 to … 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
A guide to freeing up your cashflow. REGISTER NOW Date: December 5, 2019 Time: 10:00 am – 11:00 am MST Why Attend? Is getting paid promptly an issue in your business? This webinar will explain how you can invoice customers quicker, get paid quicker, and access cash when you need it most. We’ve compiled our … Read more
For Travis’s crane and rigging company, the timing was right. “The turning point really was when we won some large projects,” he says. “We needed the start up capital which we could only do by factoring our receivables. And being a new growing company, we didn’t have the equity to go to the bank and … Read more
Background In 2016, the International Accounting Standards Board (IASB) published the International Financial Reporting Standard (IFRS) 16, to be implemented as of January 1, 2019. IFRS 16 set new guidelines for handling leases on both corporate income statements and balance sheets. Previously, most leases in the oil and gas industry were classified as operating leases, … Read more
Fort Saskatchewan, Alberta 2 DAY SALE! OPEN FOR BIDDING! Day 1 Featuring: Truck Tractors, Telescopic Forklift, Office Trailers, Seacans, Pipe Stands, Welders, Welding Rod, Job Boxes, Compressors, A Large Quantity of Tools, Power Tools, and Much More! Day 1 Bidding Starts Closing: Thursday, December 5th, 2019 at 10 am (MST) VIEW & BID LOTS – DAY 1 Day … Read more
November 29, 2019 Newsfile Calgary – Briko Energy Corp. (“Briko” or the “Corporation”) is pleased to report its financial and operating results for the three and nine months ended September 30, 2019. Financial and operational information is set out below and should be read in conjunction with Briko’s September 30, 2019 condensed unaudited interim financial statements and … Read more
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ENERGYNOW FEATURE: Why Energy Policy Is Becoming a Women’s Issue Across Canada