March 31, 2020 Reuters A rift in the Organization of the Petroleum Exporting Countries (OPEC) has widened after members failed to agree unanimously on an emergency low-level meeting to discuss a market collapse that has seen global oil prices hit 18-year lows.OPEC president Algeria, which has been instrumental in organising the producer group’s efforts to … Read more
March 31, 2020 CNW REGINA – After carefully analyzing the final offer tabled on March 30, 2020 by Co-op Refinery, the Unifor Local 594 Bargaining Committee is recommending the membership reject the offer when the forced final vote is conducted by the Saskatchewan Labour Board. The Co-op’s latest final offer, their second in five days, includes new concessions … Read more
March 31, 2020 CNW OTTAWA, March 31, 2020 /CNW/ – Today, Canada’s Minister of Natural Resources, the Honourable Seamus O’Regan, released this statement following the announcement by TC Energy of a final investment decision for the Keystone XL project: “This is good news for our oil and gas industry. It comes at a time when the industry needs it. It means thousands … Read more
The Canadian Association of Oilwell Drilling Contractors applauds the Government of Canada for its wage support announcement of a 75 percent wage subsidy for drilling and well-servicing businesses. The program will help oilfield service companies keep Canadians employed through the COVID-19 pandemic. Canada’s oil and gas service sector is facing a crisis, unlike anything ever … Read more
CALGARY — Imperial Oil Ltd. is reducing its spending for this year by $1 billion, including a $500-million cut to its capital spending plan as it deals with the COVID-19 pandemic and crash in oil prices.
The company says its capital budget for this ye…
By Lorcan Roche Kelly Mar 31, 2020 (Bloomberg) Congress looks to another stimulus package, economic forecasts worsen, and some relief for oil. Here are some of the things people in markets are talking about today. Ready to do more The White House and congressional Democrats are preparing for another round of economic stimulus to get the U.S. through the virus … Read more
By Javier Blas and Brian Wingfield Mar 31, 2020 (Bloomberg)Saudi Arabia has made good on its pledge to ramp up oil exports in April, with a first wave of crude already on its way toward Europe and the U.S., a clear sign the oil price war remains in full swing.The kingdom has loaded several of … Read more
By Julian Lee Mar 31, 2020 (Bloomberg Opinion) Well there’s a surprise. During a telephone conversation on Monday, Presidents Donald Trump and Vladimir Putin “agreed on the importance of stability in global energy markets.” However, it’s very unlikely either will go beyond extolling stability and waiting for (or pressuring) somebody else to do something about it.According to the Kremlin, energy officials from … Read more
By Jen Skerritt and Kevin Orland Mar 30, 2020 (Bloomberg)One month ago, nobody responded to Nicki Murray’s help-wanted ad for truckers to unload goods at Alberta’s feedlots. Now, she’s getting half a dozen responses a week. “Obviously, people are needing or wanting more work,” said Murray, owner of JF Murray Farms in Picture Butte, Alberta. … Read more
By Sharon Cho and Alex Longley Mar 31, 2020 (Bloomberg)Oil clawed back some losses as Chinese manufacturing data beat expectations, but futures were still heading for the worst quarter on record as the physical market showed further signs of collapse. Futures in New York were higher on Tuesday but crude is still down 65% since the end … Read more
Stating the obvious – these are crazy times. For most of us, unprecedented times. Times where we need to rely upon and be open to the strength and commitment of our communities to carry us forward. As we try to comprehend and process the current state of affairs facing the world and our industry we … Read more
Construction will lead to thousands of new jobs, billions in economic stimulus and enhanced North American energy security March 31, 2020 | Source: TC Energy Corporation CALGARY, Alberta and HOUSTON, March 31, 2020 (GLOBE NEWSWIRE) — – News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced that it will proceed with … Read more
CALGARY — TC Energy Corp. gave the go ahead for construction of its US$8-billion Keystone XL Pipeline project on Tuesday, with a helping hand from the Alberta government.
The company said Alberta has agreed to invest approximately US$1.1 billion as eq…
Alberta’s #1 fabricator and packager of process equipment Gemini Fabrication is excited to announce a brand new website. We have been hard at work to provide an online experience that sets us apart and showcases Gemini’s commitment to providing value on your next project. Gemini has a built a strong reputation for providing high … Read more
March 30, 2020 By David Yager It is now clear that sometime in the second quarter the world’s oil industry will be facing the most difficult financial challenge in its existence. Storage will be full, production will exceed demand by 10 million barrels per day or more, and unhedged production will only fetch a fraction … Read more
REGINA — A Regina refinery says it’s applying to the province’s Labour Relations Board to order a vote on its latest contract offer to union members, who’ve been on picket lines since they were locked out of the facility in December.
Co-op Refinery Co…
Gary Mar resigns from PSAC effective April 15, 2020 CALGARY, AB, March 30, 2020 – The Petroleum Services Association of Canada (PSAC) announces today that Gary Mar has resigned as President and CEO of the Association, effective April 15, 2020 to accept a position in another organization. “In the interim, Senior Vice President Elizabeth Aquin … Read more
March 29, 2020 CNW CALGARY – OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) is pleased to announce completion of agreements with our lenders and building landlord. All figures are in Canadian dollars unless otherwise stated. Further to our recent announcements, the Company has executed final agreements resulting … Read more
March 30, 2020 CNW CALGARY – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX:IPL) announced today measures to provide greater financial strength and flexibility for its capital program in response to the significant decrease in global energy prices and the COVID-19 pandemic. In summary, these measures include: Dividend reduction of 72% Suspension of the Premium DividendTM and Dividend Reinvestment Plan … Read more
Monday, March 30, 2020 Tax relief must form a key part of governments’ economic rescue efforts Tax hikes should be postponed for the duration of coronavirus crisis, including the planned federal carbon tax hike scheduled for April 1 Federal parliamentarians should also donate pay hike coming into effect for April 1 OTTAWA, ON: The Canadian … Read more
EDMONTON — Alberta’s $30-million-a-year energy war room is drastically cutting its budget due to COVID-19.
The province announced late Monday that the Canadian Energy Centre is reducing its current operating budget by 90 per cent in order to “reflect …
CALGARY — Oilsands producers are likely losing money or barely breaking even as prices for Western Canadian Select bitumen-blend crude dipped as low as US$3.82 per barrel on Monday, analysts said.
Realized prices for bitumen likely crossed into negati…
CALGARY — Parkland Fuel Corp. is cutting its 2020 capital spending budget by 52 per cent and trimming executive salaries in response to the uncertain economic impact of the novel coronavirus.
The Calgary-based company, which sells fuel through more th…
CALGARY — Inter Pipeline Ltd. is reducing its dividend by more than 70 per cent and suspending its dividend reinvestment plan as it deals with the drop in energy prices and the COVID-19 pandemic.
The company says it will now pay a monthly dividend of …
March 30, 2020 CALGARY – Point Loma Resources Ltd. (TSX-V:PLX) (“Point Loma” or the “Corporation“) announces the termination of further closing steps in the previously announced disposition of the Wizard Lake Property. Termination of Purchase and Sale Agreement (“PSA”) Further to the Corporation’s press release on December 17, 2019, the Corporation has been advised in writing … Read more
By Lorcan Roche Kelly Mar 30, 2020 (Bloomberg) Trump extends virus guidance to end of April, countries add more stimulus, and the oil market is just broken. Here are some of the things people in markets are talking about today. Changing plans President Donald Trump abandoned his goal to reopen the U.S. economy in two weeks time, … Read more
By Alex Longley Mar 30, 2020 (Bloomberg)Oil tumbled to a 17-year low as coronavirus lockdowns cascaded through the world’s largest economies, leaving the market overwhelmed by cratering demand and a ballooning surplus.Futures in London fell as much as 9.4% to the lowest since November 2002, while New York crude briefly dipped below $20 a barrel. … Read more
March 30, 2020 02:01 ET | Source: Toscana Energy Income Corporation CALGARY, Alberta, March 30, 2020 (GLOBE NEWSWIRE) — Toscana Energy Income Corporation (“Toscana” or the “Company“) (TSX:TEI) is pleased to announce that the Company has entered into an option agreement (the “Option Agreement“) with i3 Energy plc (“i3 Energy“), an AIM-listed oil and gas company with … Read more
March 30, 2020 07:18 ET | Source: Parkland Fuel Corporation CALGARY, Alberta, March 30, 2020 (GLOBE NEWSWIRE) — Parkland Fuel Corporation (“Parkland”, “we”, the “Company”, or “our”) (TSX:PKI) announced today in response to the uncertain economic impact of novel coronavirus (“COVID-19”): a reduction in its 2020 Capital Expenditure program, the withdrawal of its 2020 Adjusted EBITDA guidance, reiteration … Read more
C-Suite and Board of Directors around the world are being tested as they navigate through uncertain times. COVID-19 and other trends are being discussed to determine their impact on the organization. Consider your Directors and Officers Liability program and its ability to respond to each of these trends. Download the 2020 D&O Trends Report As you review … Read more
Controlling the oxygen level in safety-relevant applications can be significantly improved with in situ systems based around tunable diode laser (TDL) sensors. In situ TDLs not only avoid all the drawbacks of conditioning and sampling systems, they also allow fast measurement where it matters most – directly in the process line or vessel. Often, these … Read more
When we feel a global impact like the one from novel coronavirus (COVID-19), we need to be prepared to adapt and keep every aspect of your business safe—from pivoting immediately to formulating long-term strategies for success. Above all, the people driving your businesses are priority. BDO teams across the country are proactively engaged and rapidly … Read more
How to keep your team productive while working remotely How To Work Remotely It seems that the entire world is adjusting to the new normal of working from home. At Aimsio we’ve had a work from home policy in place for years, meaning we’ve tried and tested all sorts of remote working tools. Join us … Read more
Osperity’s all-in-one OMNI solution empowers organizations to remotely monitor and inspect industrial sites & assets with visual AI-driven event detection and exception-based alerting. OMNI – Only a Low $125 Per Month Click here to see the benefits and the savings
By Julian Lee Mar 28, 2020 (Bloomberg Opinion) At the point we’re now at, postponing the oil-price war won’t make a lot of difference for an industry that’s already breaking down under the weight of demand destruction. It’s too late to use diplomacy and artful negotiations to share the burden of output cuts that are now inevitable.The pumping free-for-all … Read more
CALGARY — Record low prices for oilsands crude could result in up to 20 per cent of Canada’s thermal bitumen production being shut down over the next few months, according to analyst Matt Murphy of Tudor Pickering Holt & Co.
That would equate to about…
Canada’s drilling rig count is down 44 actively drilling rigs according to data collected by Baker Hughes for the week ending March 27, 2020. From one week ago, Alberta rig counts decreased 27 to 46 and the Saskatchewan rig counts decreased 11 to 1. Oil drilling decreased 34 to 18 and gas decreased 10 to … Read more
March 27, 2020 Reuters Alberta sees “no point” in further increases to its restrictions on oil production amid a global glut, because low prices are prompting voluntary reductions, Premier Jason Kenney said on Friday. A Saudi-Russia price war and reduced oil demand due to coronavirus spread have put the world’s crude producers, including in Canada, under … Read more
By David Marino Mar 29, 2020 (Bloomberg) Newfoundland’s only refinery is shutting down, the first North American fuel maker to be idled as the coronavirus outbreak crushes demand worldwide. North Atlantic Refining Ltd. will idle the Come by Chance refinery, VOCM radio reported on its website, citing Glenn Nolan, the president of United Steelworkers Local 9316. The … Read more
March 29, 2020 The first oil refinery shutdowns in India and Europe were announced on Friday while global refinery runs drop like a stone in response to plunging demand as countries worldwide implement lockdowns.Italy’s API said it would close operations temporarily at its Ancona refinery, which has capacity of 85,000 barrels per day (bpd). In … Read more
By Javier Blas, Alex Longley and Sheela Tobben Mar 28, 2020 (Bloomberg) The global oil market is broken, overwhelmed by an unmanageable surplus as virus lockdowns cascade through the world’s largest economies. Onshore tanks in many markets are full, forcing traders to store excess oil in idle supertankers. Refineries are starting to shut down because … Read more
CALGARY — Budget cutting in response to the twin challenges of COVID-19 demand destruction and low oil prices mean the world’s oil and gas industry will likely spend less on renewable energy going forward.
But a report from consultancy Wood Mackenzie …
By Javier Blas and Olga Tanas Mar 27, 2020 (Bloomberg) Saudi Arabia held firm on its position in the price war with Russia, saying on Friday that the kingdom hasn’t had any contacts with Moscow about oil production cuts or enlarging the OPEC+ alliance. The comments from the Saudi Energy Ministry dispelled speculation that Riyadh and … Read more
By Kait Bolongaro and Shelly Hagan Mar 28, 2020 (Bloomberg)Canada’s policy makers unleashed the full power of the state on Friday, pledging open-ended support that could result in the largest government intervention in the economy since World War II. In a coordinated response to an increasingly bleak outlook, Prime Minister Justin Trudeau’s government doubled its existing stimulus … Read more
By Scott DiSavino March 27 (Reuters) – U.S. energy firms cut the most oil rigs in a week since April 2015, removing rigs for a second week in a row as a coronavirus-related slump in economic activity and fuel demand has forced massive retrenchment in investment by oil and gas companies. Drillers cut 40 oil … Read more
Bernard Marr Enterprise Tech In the coming days, weeks and months, businesses are going to become more reliant than ever on their digital strategy. Without wanting to sound too alarmist, in many cases it will be the deciding factor in whether they make it through the tough times ahead. The unprecedented, almost-total disappearance of all … Read more
March 26, 2020 | Source: Prairie Provident Resources Inc. CALGARY, Alberta, March 26, 2020 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to announce our operating and financial results for the three months and year ended December 31, 2019. PPR’s audited consolidated financial statements and related Management’s Discussion and Analysis … Read more
by Sherri Hilton Work from home. Physical distancing. Self-isolation. Quarantines. Layoffs. Job losses. Market crashes. These are just a few of the phrases that have become commonplace over the past ten days. As a leader these are truly the most difficult of times and now, more than ever, the world needs calm, resilient, and compassionate … Read more
By Lorcan Roche Kelly Mar 27, 2020 (Bloomberg) The economy needs fast bureaucracy, U.S. virus cases surpass China, and markets slip. Here are some of the things people in markets are talking about today. Bill speed The House is set to pass the $2 trillion stimulus package today and send it to the White House for President Donald Trump’s signature. … Read more
By Javier Blas Mar 27, 2020 (Bloomberg) Only the old hands at the Coffeyville oil refinery could remember anything like the prices posted this month. The small Kansas plant in the heart of rural America was offering just $1.75 a barrel for Wyoming sweet crude.With more than two billion people on virus lockdown from India to … Read more
OTTAWA — Parliament’s budget watchdog is projecting that the federal deficit for the coming fiscal year could be $112.7 billion, a jump of $89.5 billion from previous forecasts as government spending climbs to combat the economic fallout from COVID-19…
By Alex Longley and Ann Koh Mar 27, 2020 (Bloomberg) Oil traded near $23 as traders weighed the collapse in global consumption as a result of the coronavirus outbreak, which continues to roil markets, against a broader fiscal response.Futures in New York pared earlier gains but are set to eke out a small weekly increase. While … Read more
By Robert Tuttle Mar 27, 2020 (Bloomberg) Canadian heavy crude has become so cheap that the cost of shipping it to refineries exceeds the value of the oil itself, a situation that may result in even more oil-sands producers shutting operations.Western Canadian Select crude in Alberta dropped $2.84 to a record low of $6.45 a … Read more
March 27, 2020 | Source: Delphi Energy Corporation CALGARY, Alberta, March 27, 2020 (GLOBE NEWSWIRE) — Delphi Energy Corp. (TSX: DEE) (“Delphi” or the “Company”) is pleased to provide an operations update on its first three wells of the 2020 capital program. Completion operations on the Company’s first three Montney wells (3.0 net) in the 2020 drilling program … Read more
March 25, 2020 Canadian oil and gas companies are urging Ottawa to free up credit and cash to help them survive the twin shocks of COVID-19 spread and a crude price war, pitching ideas ranging from tax deferrals to backstopping bank loans.The country’s oil patch is on “life support” after the Saudi-Russian oil price war … 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 31 energy and energy service companies with regular updates. He holds quarterly subscriber webinars and provides Action BUY and SELL … Read more
REGINA — Saskatchewan’s labour relations minister is telling both sides in a bitter contract dispute at an oil refinery to figure it out themselves because he doesn’t want to bring in legislation.
Refinery owner Federated Co-operatives Ltd. locked out…
By Stewart Muir | March 25, 2020 On a recent Monday morning, I found myself on Air Canada Flight 163 from Toronto Pearson to Edmonton. As the plane loaded, I began to sense there was something not so regular about the passengers boarding the Airbus 320 for a regularly scheduled flight.Unlike those I more typically see on … Read more
The U.S. Department of Energy said on Thursday it has ditched plans to purchase crude for the nation’s emergency reserve due to a lack of funding from Congress, dealing a blow to President Donald Trump’s plan to give relief to energy companies amid the global oil market collapse. Energy Secretary Dan Brouillette had asked lawmakers … Read more
EDMONTON — Alberta’s energy regulator has named a new president and CEO.
Laurie Pushor, Saskatchewan’s deputy minister of energy and resources, is to take over the agency’s top job April 15.
The energy regulator is tasked with overseeing the developme…
March 26, 2020 Newsfile Vancouver, British Columbia – Hemisphere Energy Corporation (TSXV: HME) (“Hemisphere” or the “Company”) is pleased to announce highlights from its independent reserves evaluation effective as at December 31, 2019 prepared by McDaniel & Associates Consultants Ltd. (“McDaniel”). Following the discussion on reserves, Hemisphere has included an update to its corporate outlook and … Read more
By Lorcan Roche Kelly Mar 26, 2020 (Bloomberg) All eyes on jobless claims, Senate passes $2 trillion virus plan, and WHO says countries are wasting time. Here are some of the things people in markets are talking about today. Record number This week’s initial jobless claims data at 8:30 a.m. Eastern Time is the most hotly anticipated in years … Read more
By Ann Koh and Alex Longley Mar 26, 2020 (Bloomberg)Oil’s recovery rally went into reverse as broad weakness across physical crude markets compounded mounting evidence of the demand devastation being wrought by the coronavirus.Futures in New York fell 3.2% to below $24 a barrel. Goldman Sachs Group Inc. warned that crude demand would decline by … Read more
By Glen Carey, Javier Blas, Nick Wadhams and Stephen Cunningham Mar 25, 2020, 4:25 PM (Bloomberg)The Trump administration is pressing Saudi Arabia to dial back its plan to flood the oil market after a price war with Russia sent crude prices crashing to their lowest levels in almost two decades.The U.S. wants Saudi Arabia to … Read more
By Derek Decloet Mar 25, 2020 (Bloomberg) Real estate companies helped push the Canadian stock market to a record high before the coronavirus crisis. Now the sector is proving to be a millstone. Real estate is the second worst-performing group in the S&P/TSX Composite Index since the market peak of Feb. 20, dropping 43%. Only energy … Read more
By Theophilos Argitis and Kait Bolongaro (Bloomberg) Canadian Finance Minister Bill Morneau told lawmakers in the Senate that he is planning to make another announcement this week on measures to help the economy.The comments came after the governing Liberals reached a deal in the House of Commons on an C$82 billion stimulus package to bolster an … Read more
March 25, 2020 | Source: Precision Drilling Corporation This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For important information with respect to such forward-looking information and statements and the further assumptions and risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in … Read more
March 25, 2020 Globe Newswire CALGARY, Alberta – Baytex Energy Corp. (“Baytex”) (TSX, NYSE: BTE) announced that it received notification on March 24, 2020 from the New York Stock Exchange (“NYSE”) that Baytex is no longer in compliance with one of the NYSE’s continued listing standards because the average closing price of Baytex’s common shares was … Read more
March 25, 2020 CALGARY – Headwater Exploration Inc. (the “Company” or “Headwater“) (TSX:HWX) announces its operating and financial results for the three months and year ended December 31, 2019. Selected financial and operational information is outlined below and should be read in conjunction with the audited financial statements and the related management’s discussion and analysis (“MD&A”). These filings will be available at www.sedar.com and … Read more
CALGARY — Construction on the Woodfibre LNG project southwest of Squamish, B.C., on the West Coast has been delayed for a year due in part to affects of the COVID-19 pandemic.
Project spokeswoman Rebecca Scott says substantial construction expected to…
TORONTO — Murray Mullen says he was focused on the bigger picture when he approached senior executives and directors at his trucking and logistics business about taking pay cuts in response to the COVID-19 crisis.
The chief executive of Mullen Group L…
FORT MCMURRAY, Alta. — The operator of a work lodge north of Fort McMurray, Alta., says a guest who fell ill last week does not have COVID-19.
Houston-based Civeo Corp. said last Friday the worker was taken to hospital with symptoms consistent with th…
CALGARY — A COVID-19 scare at an oilsands staff lodge north of Fort McMurray, Alta., last week tested the pandemic preparedness of one of the many businesses that house, feed and transport workers at resource extraction sites.
Civeo Corp., which runs …
Joan Bryden , The Canadian Press Trudeau announces fiscal package amid pandemic OTTAWA — The House of Commons has passed emergency legislation to free up $82 billion to help Canadians weather the COVID-19 crisis. After a day of tense negotiations, MPs began debating the bill in the wee hours of Wednesday morning, and a vote took … Read more
March 25, 2020 Reuters Oil Storage Tanks at Cushing, OK From Canada and the Caribbean to the Baltic and Singapore, oil tanks around the world are filling fast, despite a 50%-100% jump in lease costs, as oil companies and traders scramble to park unwanted crude and refined products.Millions of barrels are struggling to find buyers among … Read more
By Lorcan Roche Kelly Mar 25, 2020 (Bloomberg) Deal struck on U.S. stimulus, Germany opens the taps and markets add to rally. Here are some of the things people in markets are talking about today. Agreement Republican and Democrat Senators reached a deal with the White House on a stimulus package that is set to unleash more than $2 trillion in … Read more
By Dan Murtaugh, Alfred Cang and Debjit Chakraborty Mar 25, 2020 (Bloomberg) As the U.S. finds itself in the unfamiliar position of lobbying for higher oil prices, China’s enjoying what amounts to a major rebate from crude’s crash just as it tries to recover from the coronavirus.The world’s biggest oil importer is saving about $250 million a … Read more
By Alex Longley and Annmarie Hordern Mar 25, 2020 (Bloomberg) Oil turned lower on an unprecedented hit to consumption, even as policy makers committed trillions of dollars to offset the harm from the global pandemic.Futures in London erased earlier gains to trade down 3.3%. The boss of Vitol Group said demand is down about 15 … Read more
By Alex Longley and Javier Blas Mar 25, 2020 (Bloomberg) As oil crashes due to the impact of the coronavirus, it’s easy to overlook an even more dismal reality for producers: the real prices they’re getting for their barrels are worse still.Having collapsed by about 60% this year, Brent and West Texas Intermediate crude have stabilized … Read more
By Robert Tuttle Mar 25, 2020 (Bloomberg) Record low prices for heavy Canadian crude have prompted one of the biggest operators in the oil sands to take the rare step of shutting production. Motivated by the “extremely low” prices, Suncor Energy Inc. announced on Tuesday that it will shut in one of its two so-called trains … Read more
March 25, 2020 | Source: PrairieSky Royalty Ltd. CALGARY, Alberta, March 25, 2020 (GLOBE NEWSWIRE) — PrairieSky Royalty Ltd. (“PrairieSky” or the “Company“) (TSX: PSK) announces that its annual general meeting of holders of common shares scheduled for Tuesday, April 21, 2020 at 9:30 a.m. (MDT) at the Calgary Petroleum Club will be changed to a virtual … Read more
March 25, 2020 | Source: Saturn Oil + Gas Inc CALGARY, Alberta, March 25, 2020 (GLOBE NEWSWIRE) — Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX.V: SOIL) (FSE: SMK) today provides a corporate update in response to recent market volatility caused by the COVID-19 pandemic and the continued oil price weakness. Saturn is pleased to … Read more
March 25, 2020 | Source: Cenovus Energy Inc CALGARY, Alberta, March 25, 2020 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today that its upcoming Annual Meeting of Shareholders (Shareholders Meeting) will now be held in a virtual only format. The Shareholders Meeting will be held at the originally scheduled date and time, on April … Read more
These are certainly interesting times we find ourselves in. A global pandemic has now seeped through the porous borders of North America. In many places, employees are already working from home offices. Here in North America we are fortunate to have some of the most advanced infrastructure to support a remote workforce. However, most … Read more
Each week, XI Technologies scans their unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. This week, XI’s President and CEO Darryl Stackhouse wanted to share his thoughts on the current situation. If you’d like to receive our Wednesday Word to the Wise … Read more
They last longer. Unlike many abrasive manufacturers, we only use premium grains, and we never use inferior fillers or bonding agents. With durable abrasives that continue to perform over time, you can avoid frequent re-orders and costly downtime. They’re safer. Our product line doesn’t include cut-rate abrasives because, frankly, cut-rate abrasives are accidents waiting to happen. When … Read more
March 24, 2020 Newsfile Calgary, Alberta – Bonavista Energy Corporation (TSX: BNP) (“Bonavista” or the “Company“) and Canadian Imperial Bank of Commerce (“CIBC“) as administrative agent on behalf of a syndicate of lenders, including CIBC, The Toronto-Dominion Bank, Bank of Montreal, Royal Bank of Canada, The Bank of Nova Scotia, National Bank of Canada, ATB Financial and Federation … Read more
By Aoyon Ashraf Mar 24, 2020 Canadian shares bounced back with force on Tuesday, moving with a big rally in global equity markets.The S&P/TSX Composite Index rose as much as 10%, the biggest intraday jump since 2008, after falling to a 2011 low on Monday. All but two of the 230 stocks in the index … Read more
HALIFAX — A Nova Scotia judge has ruled the operators of a project to store natural gas in underground caverns must delay their project until further talks with a Mi’kmaq community are complete.
The Sipekne’katik First Nation argued last month before …
See the MNP COVID-19 Business Advice Centre MNP Website Introduction COVID-19 has been an unprecedented challenge for business owners in Canada and around the world. Practically overnight, commerce has slowed, restaurants and shops have closed and those who can are working from home. In the face of this challenge, organizations look to implement policies and … Read more
CALGARY — Oilsands giant Suncor Energy Inc. is putting projects on hold and cutting its 2020 capital budget by 26 per cent to deal with lower oil prices linked to a market share battle between Saudi Arabia and Russia, as well as lower demand for fuel …
By Lorcan Roche Kelly Mar 24, 2020 (Bloomberg) Pelosi pushes $2.5 trillion bill, it’s PMI day, and markets rally. Here are some of the things people in markets are talking about today. Stimulus House Speaker Nancy Pelosi unveiled a $2.5 trillion spending bill as she attempts to take control of negotiations over the second stimulus package debate after the … Read more
By Ann Koh and Alex Longley Mar 24, 2020 (Bloomberg) Oil rallied with other risky assets after the U.S. Federal Reserve unveiled a sweeping set of measures to support the world’s largest economy. Futures in London rose for a second session by as much as 6%, to almost $29 a barrel, as the U.S. central bank said it would buy unlimited … Read more
By Anthony DiPaola, Verity Ratcliffe and Mahmoud Habboush Mar 23, 2020 (Bloomberg)With the shackles of OPEC’s output limits thrown off and a price war under way, the group’s biggest oil producers are preparing to churn out more barrels to protect market share.But making up in volume for what they’re losing in price is looking increasingly … Read more
By Aoyon Ashraf and Michael Bellusci Mar 23, 2020 (Bloomberg)Canadian stocks plunged to their lowest level in almost nine years as investors digested a slew of bad news that signaled a massive slowdown in economic growth for the year.The S&P/TSX Composite Index tumbled 5.3% Monday to its lowest since October 2011, bringing the drop from … Read more
March 23, 2020 | Source: High Arctic Energy Services Inc. NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW CALGARY, Alberta, March 23, 2020 (GLOBE NEWSWIRE) — High Arctic Energy Services Inc. (“High Arctic”) announces the appointment … Read more
All financial figures are in Canadian dollars, unless noted otherwise. March 23, 2020 | Source: Suncor Energy Inc CALGARY, Alberta, March 23, 2020 (GLOBE NEWSWIRE) — Suncor released a corporate update today, including revised 2020 corporate guidance for capital, operating costs and production outlook, reflecting the significant decline in the crude oil price and uncertainty surrounding the … Read more
March 24, 2020 | Source: Precision Drilling Corporation This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For important information with respect to such forward-looking information and statements and the further assumptions and risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in … Read more
CALGARY — Precision Drilling Corp. says it is reducing staff, cutting salaries and lowering its capital spending plan in response to the COVID-19 pandemic and current market conditions.
The company did not immediately say how many jobs it was cutting …
But government support needed to weather the storm. Don Hauka filed this report assessing the status of natural resource projects underway in British Columbia. ResourceWorks News has surveyed major projects and provided this report on the status of CGL/LNG Canada, Site C and more. This is what journalist Don Hauka discovered. See more articles and … Read more
Conventional feed water control in plants is typically controlled by the means of TWO control valves. Valve 1 for the start-up of a plant with LOW flow rates combined with a high differential pressure AND valve 2 for full power operation with high feed water flow rates combined with a low differential pressure. The SCHROEDAHL … Read more
by Koleya Karringten I’m a big fan of hosting events and parties – it’s one of my favorite parts of running the Canadian Blockchain Consortium. When I see a room full of smiling people enjoying a charcuterie spread and glasses of wine at one of our gatherings, having great conversations and making new connections, it … Read more
Some Canadian organizations are asking the federal government to focus any bailout of the oil industry on workers and families, not corporations.
The request comes in an open letter to Prime Minister Justin Trudeau, released Tuesday morning and signed…
Fort McMurray, Alberta 2 DAY SALE! OPEN FOR BIDDING! LOTS ADDED DAILY! Day 1 Featuring: Cat D8T CR Crawler Tractor, Astro Thermal Frac Water Heater, Columbia 40-Wheel Double-Drop Lowboy Trailer, Liquid Nitrogen Storage Tank, Peterbilt and Western-Star Truck-Tractors, 1928 International Pickup Truck, H2 Hummer, Pickup Trucks, Vehicles (Including BMW 530i, Volkswagen Golf, Audi A6), Van Trailers, … Read more
By Geoffrey Cann It looks like we’re all confined to quarters until further notice. But that doesn’t mean industry comes to a halt. Digital tools can help keep business moving. Social Distancing This bitch of a bug infects its human hosts via human-to-human transmission through aerosols like sneezing, coughing, and sharing air, with the virus … Read more
CALGARY — Ensign Energy Services Inc. is cutting its capital budget and says its top executives will take a pay cut as it moves to deal with the crash in the oilpatch due to COVID-19 and the oil price war between Russia and Saudi Arabia.
The oilfield …
By Lorcan Roche Kelly Mar 23, 2020 (Bloomberg) Congress fails to agree on stimulus, virus measures tighten further, and markets drop. Here are some of the things people in markets are talking about today. No agreement yet While lawmakers in Washington are almost universally united on the need to introduce a very large stimulus bill to fight the economic fallout … Read more
By Ann Koh, James Thornhill and Grant Smith Mar 23, 2020 (Bloomberg) Oil dropped toward the lowest level since 2003 as demand plunged as governments froze economic activity to combat the coronavirus, and prospects for a OPEC-Texas production deal faded. Futures in London fell 5.6% to near $25 a barrel as some traders estimate crude demand … Read more
Global economic activity is falling at record rate as countries take action to prevent the spread of COVID-19. Simultaneously, the OPEC+ curtailment agreement has fallen apart with Russia abandoning its willingness to cut production. This has created unprecedented volatility in the global crude market. Sproule will continue to monitor activity and provide clients with updates. To … Read more
By Erik Hertzberg Mar 23, 2020 (Bloomberg) Consumer confidence went into a tailspin as half a million Canadians applied for unemployment benefits. The Bloomberg Nanos Canadian Confidence Index, based on telephone surveys of households, recorded its biggest one-week drop ever and reached the lowest level since 2013, when weekly tracking began. The sudden deterioration in sentiment … Read more
By Julian Lee Mar 22, 2020 (Bloomberg Opinion) Don’t expect Russia or Saudi Arabia to bail out shale again. Balancing the oil demand destruction resulting from the global spread of the Covid-19 virus requires action from all producers, and the leaders to make it happen. The forecasts for oil demand are grim. Analysts from Goldman … Read more
By David Fickling Mar 21, 2020 For much of the world, oil wealth is a curse. Endowed with ample reserves of hydrocarbons, the likes of Nigeria, Angola, Kazakhstan, Mexico and Venezuela frittered the benefits away. Only in the Persian Gulf has oil been a nation-building blessing. The discoveries of petroleum in the mid-20th century turned an … Read more
Most people know aluminum by its common uses like aluminum foil or cans, but at IDENT we know aluminum because of the signs we work with every day. Aluminum is one of the most abundant metals on the planet. It takes a lot less energy to recycle aluminum than manufacturing new metals and can be … Read more
Canadian economy battered by global pandemic and oil price slump The fallout of the COVID-19 pandemic and all of its associated economic and financial disruptions are expected to cause the Canadian economy to falter. The economy is tracking a small decline in the first quarter. We expect a significant contraction in the second quarter, with … Read more
Drillform completed an extensive overhaul to a third-party catwalk, including the addition of am X-Y walking system. For inquiries contact info@drillform.com or for more information, visit: www.drillform.com
March 20, 2020 | Source: Marksmen Energy CALGARY, Alberta, March 20, 2020 (GLOBE NEWSWIRE) — Marksmen Energy Inc. (“Marksmen” or the “Company”) announces that it has completed the closing of its previously announced non-brokered private placement of units (the “Units”) of Marksmen (the “Offering”). The Company issued 3,880,280 Units at a price of $0.05 per Unit … Read more
Company takes immediate action to ensure the safety of Husky’s workforce, construction sites and communities March 22, 2020 | Source: Husky Energy Inc. CALGARY, Alberta, March 22, 2020 (GLOBE NEWSWIRE) — Husky Energy (TSX:HSE) today announced that it will begin a systematic and orderly suspension of major construction activities related to the West White Rose Project. The … Read more
We’re excited to announce that Cadeon and Tibco’s SpotFire User Group is approaching! The User Group will feature important updates from Cadeon and TIBCO, and a special customer spotlight, who will share his secrets of taking full advantage of Spotfire’s GIS and data visualization capabilities and applying data science and statistics to answer real-world questions, … Read more
Canada’s drilling rig count is down 77 actively drilling rigs according to data collected by Baker Hughes for the week ending March 20, 2020. From one week ago, Alberta rig counts decreased 54 to 73 and the Saskatchewan rig counts decreased 17 to 12. Oil drilling decreased 63 to 52 and gas decreased 14 to … Read more
JEFF MCINTOSH/THE CANADIAN PRESS Globe and Mail Story The federal government is preparing a multibillion-dollar bailout package for Canada’s oil and gas sector that is expected to be unveiled early next week, sources say. Federal and Alberta government insiders are saying little about the details – citing the sensitivity of the options under discussion – … Read more
By Divya Balji and Paula Sambo Mar 21, 2020 (Bloomberg) It has been a month like no other in financial markets. Steve Digregorio, portfolio manager at Canoe Financial, says he feels like he has lived two years in the past month. Kurt Reiman, who sets strategy for the Canadian arm of Blackrock Inc., says there’s simply no silver … Read more
Topic Is a custom or subscription software better for field operations? A guide to choosing the right software for your business If you work for a business that has operations in the field, this webinar is for you. Looking for a field ticketing or form-based workflow software for your field operations? It can be … Read more
By Jackie Davalos Mar 20, 2020 (Bloomberg) Oil capped its biggest weekly decline in almost three decades as concern that the collapse of global fuel demand will deepen outweighed talks between OPEC and Texas’s energy regulator.Futures in New York tumbled 11% Friday, bringing the week’s plunge to 29%, the biggest since January 1991. Some traders … Read more
By Will Kennedy March 20, 2020 First Russia tossed a hand grenade into global oil markets. Then Saudi Arabia dropped a bomb. After the dramatic collapse of an alliance between the OPEC oil cartel and Russia, a plunge in the price of oil to an 18-year low sent shockwaves through financial markets already reeling from the fallout of the coronavirus pandemic. … Read more
By Javier Blas Mar 21, 2020 (Bloomberg) Imagine U.S. President Donald Trump makes a deal with Saudi Arabia and Russia to cut oil production. Envisage Washington, Moscow and Riyadh going big, each cutting by one million barrels a day. Bullish, right?Now come back to the reality of today’s oil market, where demand is collapsing — some … Read more
FORT MCMURRAY, Alta. — The operator of one of the many worker lodges in the Fort McMurray area of northern Alberta confirms that a guest has been transported to hospital with symptoms consistent with COVID-19.
In a statement Friday, Houston-based Cive…
March 20, 2020 Reuters U.S. energy firms cut the most oil rigs in a week in almost a year as a meltdown in oil and natural gas prices due to the coronavirus outbreak has forced producers to deepen cuts in spending on new drilling.Drillers cut 19 oil rigs in the week to March 20, bringing the … Read more
The outbreak of the coronavirus has more people working from home. If you’re new to working remotely, these tips from a home-office pro can help you stay productive and maintain balance. By Jill Duffy PC World Original Article The global spread of COVID-19, the novel coronavirus, is keeping people at home. Major conferences, including Mobile World Congress and Google … Read more
March 20, 2020 CALGARY, Alberta – (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) was notified by Keyera Corp. (“Keyera”) on March 16, 2020 of an unplanned outage related to the amine train at the Keyera Wapiti Plant (“Keyera Plant”). As of this press release, Keyera expects to have the plant issue repaired and … Read more
CALGARY — The Canada Energy Regulator says crude-by-rail exports reached a record high of 403,767 barrels per day in January, the first time they’ve surpassed 400,000 bpd.
The surge in rail movements of oil beats by 10.6 per cent the previous record o…
March 20, 2020 Globe Newswire CALGARY, Alberta – Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is taking swift action in response to the significant decline in global oil prices to bolster balance sheet strength and corporate resiliency, including a $30 million reduction to its 2020 capital program and proactively curtailing heavy oil production at … Read more
March 18, 2020 CNW CALGARY – (TSX:PMT) – Perpetual Energy Inc. (“Perpetual”, or the “Company”) is pleased to release its fourth quarter and year-end 2019 financial and operating results and a summary of the Company’s year-end 2019 reserves as reported by the independent engineering firm McDaniel and Associates Consultants Ltd. (“McDaniel”). A complete copy of Perpetual’s audited consolidated financial … Read more
March 19, 2020 CNW CALGARY – Paramount Resources Ltd. (“Paramount” or the “Company”) (TSX:POU) announces that, in response to the recent significant decline in global energy prices, it has revised its 2020 capital guidance to a range of $185 million to $250 million, a reduction of approximately 46% at mid-point from the originally planned range of $350 million to $450 million. Forecast average … Read more
By Lorcan Roche Kelly Mar 20, 2020 (Bloomberg) Markets bounce, virus measures tighten, and Mnuchin asks Congress to hurry. Here are some of the things people in markets are talking about today. A little risk on After yesterday’s relatively calm day in U.S. markets — by recent standards anyway — global markets are moving higher today. Benchmark indexes in South Korea and Taiwan jumped more … Read more
By Sharon Cho and Alex Longley Mar 20, 2020 (Bloomberg) Oil rallied for a second session as President Donald Trump waded into the price war between Saudi Arabia and Russia, while a Texas regulator proposed his state could coordinate output cuts with the feuding producers.Futures in London topped $30 a barrel, continuing a rebound from their … Read more
By Ilya Arkhipov, Evgenia Pismennaya, Dina Khrennikova and Olga Tanas Mar 20, 2020 (Bloomberg)Russian President Vladimir Putin will refuse to submit to what the Kremlin sees as oil blackmail from Saudi Arabia, signaling the price war that’s roiling global energy markets will continue. The unprecedented clash between the two giant exporters — and former OPEC+ … Read more
By Ryan Sitton Mar 20, 2020 (Bloomberg Opinion) Uncertain times are upon us. Our jobs and way of life are being affected by the coronavirus pandemic and by the measures being taken to halt its spread. While these measures are necessary, they are also suppressing demand for goods and services, crippling key parts of our economy. … Read more
Mar 20, 2020 (Bloomberg)The Trump administration’s plan to aid struggling American shale drillers involves buying as much as $3 billion worth of oil from domestic producers who employ 5,000 people or less.About 300 publicly traded U.S. explorers meet the criteria, including Continental Resources Inc., the shale company owned by billionaire Trump supporter Harold Hamm, according … Read more
By Sayer Devlin Mar 19, 2020 (Bloomberg) The global oil and gas industry has slashed at least $31 billion from investment budgets after crude’s epic price crash this month, and more cuts are likely to come.Producers are quickly switching gears to survive a flood of oil coming into the market as Saudi Arabia and Russia open … Read more
By Michael Bellusci Mar 19, 2020 (Bloomberg) Canadian equities rose Thursday as investors continue to digest global stimulus plans while also on the lookout for buying opportunities.After sliding as much as 3.1% at the open, the S&P/TSX Composite erased that slump, rising to close 3.8% higher. All eleven sectors rose, with cannabis and energy producers among … Read more
By Kevin Orland and Robert Tuttle Mar 18, 2020 (Bloomberg) In the oil price war between Saudi Arabia and Russia, the first big victim is likely to be Canada. Hit by unfettered supply from the world’s top two crude exporters and reduced demand from the coronavirus, the benchmark blend of crude produced from Canada’s oil … Read more
ST. JOHN’S, N.L. — The global COVID-19 pandemic is spelling trouble for Newfoundland and Labrador’s oil and gas industry, adding to existing economic challenges in the cash-strapped province.
Premier Dwight Ball acknowledged on Wednesday the province …
March 19, 2020 Reuters Canadian oil producers, already under stress before this month, now face deeper spending cuts and possibly a wave of consolidation due to the twin shocks of the global spread of coronavirus and the Saudi-Russia oil price war. The TSX energy index has dropped 57%, showing the strain on producers in the world’s … Read more
March 19, 2020 CALGARY – Altura Energy Inc. (“Altura” or the “Corporation”) (TSXV: ATU) is pleased to announce its financial and operating results for the fourth quarter and year ended December 31, 2019 and an operational update. The audited consolidated financial statements and related management’s discussion and analysis (“MD&A”) are available at www.sedar.com and www.alturaenergy.ca. Selected financial and operating information for the … Read more
By Ari Natter and Stephen Cunningham US Oil prices jumped as much as 24% Thursday, the most ever, after President Donald Trump said that he’d get involved in the global price war at an appropriate time. US West Texas Intermediate Crude gained 24% to $25.28 per barrel, while Brent crude gained nearly 14% to $28.26 per barrel. “We are … Read more
By Lorcan Roche Kelly Mar 19, 2020 (Bloomberg) The ECB goes big, Congress works on second stimulus bill, and a first look at the damage to the U.S. economy. Here are some of the things people in markets are talking about today. No limits After an emergency meeting last night, the European Central Bank announced a €750 billion … Read more
By Sharon Cho and Alex Longley Mar 19, 2020 (Bloomberg) Oil rebounded after plunging to the lowest level in 18 years as policy makers across the globe try to strengthen economies against the impact of the coronavirus pandemic.Futures rose as much as 18% in New York, the most since December 2008, following a 24% rout in … Read more
March 18, 2020 | Source: High Arctic Energy Services Inc. NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW CALGARY, Alberta, March 18, 2020 (GLOBE NEWSWIRE) — High Arctic Energy Services Inc. (“High Arctic”) announces that it … Read more
March 18, 2020 Globe Newswire CALGARY, Alberta – Baytex Energy Corp. (“Baytex”)(TSX, NYSE: BTE) announces a 50% reduction to its 2020 capital budget to $260 to $290 million, from the original $500 to $575 million announced on December 4, 2019. “As an industry, we are facing an unprecedented challenge due to the significant degradation and … Read more
March 18, 2020 Globe Newswire CALGARY, Alberta – Canadian Natural Resources Limited (“Canadian Natural” or the “Company”) is providing a corporate update on its capital flexibility and its continued focus on effective and efficient operations. Canadian Natural is well positioned through the current global COVID-19 challenges, due to our significant long life low decline asset base … Read more
March 18, 2020 Newsfile Calgary, Alberta – Tamarack Valley Energy Ltd. (TSX: TVE) (“Tamarack” or the “Company“) today announces proactive revisions to its 2020 capital budget and associated guidance in response to events impacting the global oil and gas industry. Tamarack remains committed to enhancing its long-term sustainability and to executing a measured capital program … Read more
March 18, 2020 Reuters Canadian Prime Minister Justin Trudeau said on Wednesday his government would provide C$27 billion in direct support to families and businesses struggling because of the coronavirus outbreak, and stood ready to do more. It was his biggest move yet to combat the economic impact of the fast-spreading virus, which has infected some … Read more
CALGARY — Paramount Resources Ltd. is cutting its capital spending plan in the face of the significant drop in global energy prices.
The company expects capital spending this year to come in between $185 million and $250 million.
The new forecast comp…
By David Wethe and Lynn Doan Mar 18, 2020 (Bloomberg) Halliburton Co., the world’s biggest provider of fracking services, will furlough about 3,500 workers at its Houston headquarters as crude prices plunged to an 18-year low.The mandatory time-off will last as long as 60 days, Halliburton said in an emailed statement. Employees will work one-week-on, one-week-off … Read more
By Jen Skerritt, Danielle Bochove and Sandra Mergulhao Mar 18, 2020 (Bloomberg)First, office workers and bartenders were sent home. Now, the cogs of Canadian industry are slowly grinding down as major companies curb operations to limit the spread of the coronavirus.Firms like Vale SA are idling some operations while Canadian oil sands producers Syncrude Canada … Read more
From: Department of Finance Canada Backgrounder The Government of Canada is taking immediate, significant and decisive action to help Canadians facing hardship as a result of the COVID-19 outbreak. On March 18, 2020, the Prime Minister announced a new set of economic measures to help stabilize the economy during this challenging period. These measures, delivered as … Read more
Alimentation Couche-Tard Inc. says its experience adjusting to hurricanes and floods positions it well to meet the challenges from COVID-19.
Communities where its Circle K stores are located rely on the convenience store chain for fuel, emergency item…
By Robert Tuttle Mar 18, 2020 (Bloomberg) Heavy Canadian crude slumped below $10 a barrel for the first time after oil-sands producers were forced to delay maintenance, pushing more oil into the market at the worst possible time. Concerns about flying workers in from out of town as the coronavirus continues to spread led Syncrude Canada … Read more
Each week Josef Schachter will give you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold newsletter covering the general energy market and 34 energy and energy service companies with regular updates. He holds quarterly subscriber webinars and provides Action BUY and SELL … Read more
By Lorcan Roche Kelly Mar 18, 2020 (Bloomberg) Futures hit down limit, huge moves in bonds, and oil drops to lowest since 2003. Here are some of the things people in markets are talking about today. Another volatile session The breakneck moves in markets continue, with S&P 500 futures hitting their lower trading limit overnight, as the … Read more
By Saket Sundria, Alex Longley and Javier Blas Mar 18, 2020 (Bloomberg) Oil prices plunged below $25 a barrel for the first time in almost 18 years after Saudi Arabia made another shock-and-awe attack in its price war with Russia, vowing to keep production at a record high “over the coming months.”Futures in New York fell … Read more
March 17, 2020 | Source: Enerflex Ltd. CALGARY, Alberta, March 17, 2020 (GLOBE NEWSWIRE) — Enerflex Ltd. (TSX:EFX) (“Enerflex” or “the Company” or “we” or “our”) announces capital expenditure, dividend, and operational updates in light of current market conditions and commodity price volatility. “The uncertainty caused by the COVID-19 pandemic and recent market volatility has significantly … Read more
By David Yager The unfortunate confluence of multiple negative events in early 2020 has precipitated yet another outbreak of laser sharp 20/20 hindsight. It happens every time the industry goes into the dumpster. Woulda, coulda, shoulda. If we had just changed history – done something different – using the information nobody had at the time, … Read more
CALGARY — Pembina Pipeline Corp. is cutting its capital spending plan for this year by up to $1.1 billion due to the COVID-19 pandemic and the plunge in oil prices.
The company now expects its revised 2020 capital budget to between $1.2 billion and $1…
March 18, 2020 | Source: InPlay Oil Corp. CALGARY, Alberta, March 18, 2020 (GLOBE NEWSWIRE) — InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) is pleased to announce its financial and operating results for the three and twelve months ended December 31, 2019, and the results of its independent oil and gas reserves … Read more
March 17, 2020 Globe Newswire CALGARY, Alberta – (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) announces that it has filed its audited consolidated financial statements, management’s discussion and analysis, and annual information form for the year ended December 31, 2019 on the Company’s profile at SEDAR at www.sedar.com, and has posted them to the Company website at www.pipestonecorp.com. … Read more
March 17, 2020 Globe Newswire CALGARY, Alberta – Cardinal Energy Ltd. (“Cardinal” or the “Company“) (TSX: CJ) is pleased to announce its operating and financial results for the fourth quarter and year ended December 31, 2019. 2019 FINANCIAL HIGHLIGHTS Production for the fourth quarter of 2019 averaged 20,227 boe/d with crude oil production increasing by 1% … Read more
The impact of COVID-19 becoming a pandemic has far reaching implications that have significantly disrupted our daily personal and work lives. On behalf of all the personnel at Osperity, we hope that you and your loved ones are safe and healthy, and that every measure is being taken to protect your work colleagues, family members, … Read more
Are you sure the you are getting the best price and quality for your control panels and instrumentation? Do you get a lifetime warranty on workmanship from your supplier? For over 20 years Control Innovations has been a leading Calgary control panel and instrumentation manufacture. We specialize in the manufacture and service of electrical, electromechanical … Read more
“If each of your employees become a few hours more efficient in one month, the software already pays for itself multiple times over.” As regulatory bodies continue to increase industry standards, traditional EHS Management systems are rendered inadequate for handling high volumes of information. Spreadsheets or outdated technology systems complicate collaboration with wide groups of … Read more
‘BEEP-AND-FLASH’ GAS DETECTORS ARE NOT ENOUGH To best accommodate the evolving needs of Blackline’s customers and address the shortcomings of competitor offerings, they just introduced G7 Insight, a new and simple solution that bundles gas detection with real-time compliance and business analytics tools. In short, G7 Insight gives time back to teams, allowing them to focus … Read more
By Robert Tuttle Mar 17, 2020 (Bloomberg) Canadian oil sands producers are delaying maintenance at production sites, pushing more oil into the market at the worst possible time.Concerns about flying workers in from out of town as the coronavirus continues to spread led Syncrude Canada Ltd. to delay coker maintenance at its upgrader and Suncor Energy … Read more
TORONTO — The Conference Board of Canada expects the country will avoid a technical recession as the economy rebounds from a 2.7 per cent contraction in the second quarter.
It expects business investment and exports to substantially decline and consum…
REGINA — The Saskatchewan government has outlined its spending for the year ahead, with $200 million more for health care and $1.3 billion for emergencies.
The Saskatchewan Party government released a half budget of sorts today — a spending plan witho…
March 17, 2020 CNW CALGARY – Whitecap Resources Inc. (“Whitecap” or the “Company”) is employing proactive measures in response to current market conditions and the sharp decline in global commodity prices. Whitecap has persevered through previous commodity price cycles and will continue to focus on a strategy that protects the business, our balance sheet and liquidity and … Read more
Kelt Reduces 2020 Capital Expenditure Program by 36% Calgary, Alberta–(Newsfile Corp. – March 17, 2020) – Kelt Exploration Ltd. (TSX: KEL) (“Kelt” or the “Company”) announces that it’s board of directors has approved a reduction in capital expenditures for 2020. The Company has reduced its capital expenditure budget by $80.0 million or 36% to $145.0 … Read more
March 17, 2020 Globe Newswire CALGARY, Alberta – Gibson Energy Inc. (“Gibson” or the “Company”), (TSX: GEI), announced today that Ms. Judy Cotte will join the Company’s Board of Directors effective March 17, 2020. “We are very excited to have Judy Cotte join Gibson’s Board of Directors,” said James Estey, Chairman of Gibson. “Judy has significant … Read more
LAVAL, Que. — Alimentation Couche-Tard Inc. is boosting its quarterly dividend 12 per cent after reporting strong net earnings in the third quarter that beat expectations.
The Quebec-based convenience store operator says its payout will increase to se…
Alberta, Calgary, 16 March 2020 – The Sniffers proudly announces that they have partnered with Keneco Environmental Inc. to serve the Oil & Gas market with best-in-class Leak Detection and Repair (LDAR) services as part of a legislated Fugitive Emissions Management Plan (FEMP) -AER Directive 60. The Sniffers, founded in 1991 and headquartered in Belgium, … Read more
CALGARY — More energy industry dividends are being slashed as investors turn their backs on companies whose payouts are now unaffordable with oil prices plunging to less than US$30 per barrel.
Calgary-based TORC Oil & Gas Ltd. announced after markets …
By Saket Sundria and Alex Longley Mar 17, 2020 (Bloomberg) Oil erased gains as the shutdown of swaths of the global economy triggered a meltdown in fuel demand.Futures in London traded little changed after earlier rising as much as 4%, as measures by governments to restrict travel hammered fuel consumption and led to the biggest daily … Read more
By Javier Blas Mar 17, 2020 (Bloomberg)Saudi Arabia plans to boost oil exports even further from April to May, reaching a record of more than 10 million barrels a day as the kingdom taps a new field.The increase in shipments of about 250,000 barrels a day shows the kingdom is determined to carry on with … Read more
By Iain Marlow March 17, 2020 Public outcry led Hong Kong to implement social distancing Memories of SARS in 2003 conditioned residents to be cautious Medical workers transport a suspected coronavirus patient at Queen Mary Hospital in Hong Kong, Jan. 29. Photographer: Justin Chin/Bloomberg As the world struggles with the rapid spread of Covid-19, Hong Kong … Read more
By Michael Bellusci Mar 16, 2020 (Bloomberg) Canadian stocks plunged almost 10% in another day of wild trading as new measures to curb the spread of the coronavirus only intensified concerns the economy is heading into a recession. Prime Minister Justin Trudeau said the government will restrict the entry of all non-residents into Canada except Americans, while U.S. … Read more
By Lorcan Roche Kelly Mar 17, 2020 (Bloomberg)The fiscal fightback, stocks remain unimpressed and the economic damage assessments look bleak. Here are some of the things people in markets are talking about today. Measures French President Emmanuel Macron said that the country would guarantee up to 300 billion euros ($335 billion) of bank loans to companies in an effort to stop businesses … Read more
By Laura Millan Lombrana, Jess Shankleman and Akshat Rathi Mar 16, 2020 (Bloomberg) The electric vehicle revolution that by most accounts was ramping up in 2020 faces one of the biggest threats since EVs started to go mainstream in the last decade.The outbreak of the novel coronavirus in late December has paralyzed key parts of the … Read more
March 16, 2020 CALGARY – TORC Oil & Gas Ltd. (“TORC” or the “Company”) (TSX:TOG) announces a reduction in the monthly dividend from $0.025 per month to $0.005 per month and an ongoing review of capital spending plans for the remainder of 2020. MONTHLY DIVIDEND TORC confirms that a cash dividend of $0.005 per common share will be paid on April 15, 2020 to common … Read more
CALGARY — It’s a “glass half-full” way of looking at a crisis but as plunging oil prices cast a shadow over oil and gas companies in Western Canada, the drilling industry is already slowing down because of the weather.
Each year in mid-March, melting …
By Kevin Orland Mar 16, 2020 (Bloomberg) Canadian oil and gas companies are cutting C$2.4 billion to C$3.5 billion ($1.7 billion-$2.5 billion U.S.) from their budgets for this year as low prices make most production unprofitable.The latest producers to release capital spending cuts include Crescent Point Energy Corp., NuVista Energy Ltd., Vermilion Energy Inc. and Enerplus … Read more
March 16, 2020 Globe Newswire CALGARY, Alberta – PrairieSky Royalty Ltd. (“PrairieSky” or the “Company“) (TSX: PSK) announced today that its Board of Directors has adjusted the Company’s allocation of free cash flow for the balance of the year. Over the past week global commodity markets have seen unprecedented volatility resulting from crude oil production and … Read more
March 16, 2020 Reuters Canadian heavy crude’s discount widened versus U.S. benchmark West Texas Intermediate (WTI) oil on Monday, the last day of the monthly trading cycle.Western Canada Select (WCS) heavy blend crude for April delivery in Hardisty, Alberta, traded at $13.60 per barrel below WTI, according to NE2 Canada Inc, wider than Friday’s settle of … Read more
By Ilya Arkhipov and Dina Khrennikova Mar 16, 2020 (Bloomberg)Russia, the world’s largest energy exporter, said the current oil-price slump was expected and it doesn’t plan talks with Saudi Arabia for the time being.The decision to keep the Saudis at arm’s length comes as oil tumbles to a four-year low, continuing its slide after the … Read more
By Divya Balji Mar 16, 2020 (Bloomberg) —One of Canada’s staunchest bulls is cutting his profit forecast for the country’s S&P/TSX Composite Index by 10% but is keeping his year-end target in place — at more than 5,000 points higher from here. Brian Belski, chief investment strategist at Bank of Montreal, cut his earnings per … Read more
Erwin Seba, Gary McWilliams HOUSTON (Reuters) – Major energy companies in the United States imposed work-from-home rules for office staff and began health checks for remote or critical workers as coronavirus spread and threatened an industry reeling from falling demand and profits. FILE PHOTO: Crew members look over idle oil rigs in the Gulf of Mexico … Read more
March 16, 2020 All financial information contained within this news release has been prepared in accordance with U.S. GAAP. This news release includes forward-looking statements and information within the meaning of applicable securities laws. Readers are advised to review the “Forward-Looking Information and Statements” and “Non-GAAP Measures” at the end of this news release for … Read more
March 16, 2020 CNW CALGARY – Vermilion Energy Inc. (“Vermilion”, “We”, “Our”, “Us” or the “Company”) (TSX, NYSE: VET) announces that its Board of Directors has approved a reduction to our 2020 capital budget of $80 to $100 million and a reduction in our monthly dividend from $0.115 CDN per share to $0.02 CDN per share in response to the pronounced decline in global commodity … Read more
By Michael Bellusci Mar 16, 2020 (Bloomberg)Canadian stocks plunged more than 9% after emergency measures from central banks failed to soothe fears the economy will suffer a heavy blow from the coronavirus.The S&P/TSX Composite Index dropped as much as 13.3% after the open, the biggest intraday drop since at least the index began trading in … Read more
Mar 16, 2020 (Bloomberg) Central banks cut again, markets fall again, and outbreak continues to spread. Here are some of the things people in markets are talking about today. Rate slash In its second emergency rate cut in two weeks, the Federal Reserve reduced its benchmark to basically zero, dropping the target to 0-0.25%. The bank also said it would … Read more
By Leslie Kaufman Mar 15, 2020 (Bloomberg)It took one week after the first U.S. case of Covid-19 with no overseas connection for Starbucks Corp. to ban customers from bringing in reusable coffee mugs. Judith Enck, a former regional administrator for the Environmental Protection Agency, was disappointed. Public health comes first, of course, but as the … Read more
By Alex Longley Mar 16, 2020 (Bloomberg)Oil’s spectacular collapse deepened as widening global efforts to fight the spread of the coronavirus looked set to trigger the most severe contraction in annual oil demand in history.Futures tumbled as much as 11% after losing a quarter of their value last week. Demand for jet fuel, gasoline and diesel is … Read more
CALGARY — More Calgary-based oil and gas producers are cutting spending plans as crude prices fall further and financial analysts lower their stock ratings.
Despite the cuts, stock prices continued to plummet on Monday, with the S&P/TSX Capped Energy …
March 15, 2020 CNW CALGARY – OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) announces further to our press release on March 4, 2020 that we have reached an agreement with our noteholders to amend the senior note agreements to align all note maturity dates to November 30, 2021. In addition, … Read more
THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS March 16, 2020 | Source: Questerre Energy Corporation CALGARY, Alberta, March 16, 2020 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on the results of its December … Read more
March 13, 2020 Source: Zargon Oil & Gas Ltd. CALGARY, Alberta, March 13, 2020 (GLOBE NEWSWIRE) — Zargon Oil & Gas Ltd. (“Zargon” or the “Company”) (TSX:ZAR) has released its 2019 fourth quarter and full year financial results. Highlights from the fourth quarter and year ended Dec. 31, 2019 are provided below: HIGHLIGHTS FROM THE … Read more
Aerostar Drone Solutions, a leader in UAV Inspections, is pleased to announce that it has recently added UAV LiDAR Scanning & 3D Modelling to its portfolio of UAV Inspections. The addition of LiDAR scanning continues to advance Aerostar’s UAV inspection capabilities to many industries in both Canada and the USA. LiDAR (Light Detection and Ranging) is … Read more
The shale boom has created an increase in the number of suppliers and field tickets generated for work performed. Low value, high volume activities are a feature of the shale boom – these are perfect conditions for ticket inaccuracy. Watch the on-demand webinar to learn how recent enhancements to OpenTicket allow operators to ensure hauling tickets … Read more
Monitor sites and equipment remotely. Advanced analytics automatically send visual alerts to stakeholders when an exception is triggered. Know exactly what the problem is before taking action. All reports and alerts can be viewed and shared on any device connected to the internet, so you can stay safe and away from offices and crowds. Over … Read more
Each week Josef Schachter will give you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold newsletter covering the general energy market and 34 energy and energy service companies with regular updates. He holds quarterly subscriber webinars and provides Action BUY and SELL … Read more
By Kevin Orland Mar 13, 2020 (Bloomberg) Canadian energy companies are slashing their spending plans for this year as low oil prices make most production unprofitable, straining their cash flow.Here is a summary of how companies are responding to the slump: Company Response Husky Energy Cutting spending plan by C$1 billion ($720 million) and reducing production … Read more
By Jacqueline Thorpe Mar 14, 2020 (Bloomberg) Never in modern trading history have Canadian stocks fallen so much in a single day of trading as they did this week.Growing alarm over the coronavirus and plummeting oil prices have been catalysts for the slump. But one historian sees two underlying factors at play: a fractured geopolitical environment … Read more
By Julian Lee Mar 15, 2020 (Bloomberg Opinion) It’s just become a lot harder to make long-term investment decisions in the oil industry. And no, I’m not talking about the need to transition to a low-carbon economy, or the backlash from climate activists and investors. Any veneer of certainty about the future path of oil prices has … Read more
By Jacqueline Thorpe and Divya Balji Mar 15, 2020 (Bloomberg) As investors try to make sense of one of the swiftest downward spirals in market history, some of Canada’s biggest money managers are advising clients to hold their nerve. After a wild week, the S&P/TSX Composite index staged a late comeback on Friday after U.S. President … Read more
Bulldog 90 Automated Floor Wrench The BD90 Automated Floor Wrench removes personnel from the rotating zone and takes automation of the rig floor to the next level. Designed for seamless integration into existing rig systems, the BD90’s industry leading automation systems provides remote diagnostics capabilities, tracks and records data on each connection and facilitates … Read more
By Michael Bellusci and Aoyon Ashraf Mar 13, 2020 (Bloomberg) Canadian stocks rallied into Friday’s close as policymakers stepped up their response to the economic fallout from the coronavirus.The S&P/TSX Composite Index jumped 9.7%, the most since October 2008. This comes after the benchmark plunged 10% on Monday and then 12% on Thursday as the pandemic heightened … Read more
March 13, 2020 Reuters Canadian heavy crude’s discount widened versus U.S. benchmark West Texas Intermediate (WTI) oil on Friday, as global prices rebounded.Western Canada Select (WCS) heavy blend crude for April delivery in Hardisty, Alberta, traded at $13 per barrel below WTI, according to NE2 Canada Inc, wider than Thursday’s settle of $12 under. The differential … Read more
THE BEST PARTY OF THE SUMMER! Cody Snyder Charity Bullbustin’ is back again set for June 30, July 1 & 2, 2020 Held at the Grey Eagle Resort & Casino – Calgary, Alberta Limited Public Tickets Now on Sale! Details & Tickets HERE Digital Marketing Partner Cody Snyder Charity Bullbustin’ is once again set for … Read more
Canada’s drilling rig count is down 28 actively drilling rigs according to data collected by Baker Hughes for the week ending March 13, 2020. From one week ago, Alberta rig counts decreased 12 to 127 and the Saskatchewan rig counts decreased 14 to 29. Oil drilling decreased 19 to 115 and gas decreased 9 to … Read more
U.S. to fill strategic oil reserve ‘to the top,’ Trump says March 13, 2020 Reuters President Donald Trump said on Friday that the United States would take advantage of low oil prices and buy a large quantity of crude to fill the nation’s emergency crude oil reserve, in a move aimed to help energy producers struggling … Read more
March 13, 2020 The U.S. oil drilling rig count rose for a second week in a row despite a massive drop in both oil and natural gas prices this week and projections by many analysts that the number of rigs will fall as producers deepen their spending cuts on new drilling.Companies added one oil rig … Read more
March 13, 2020 Globe Newswire CALGARY, Alberta, March 13, 2020 (GLOBE NEWSWIRE) — Toscana Energy Income Corporation (“TEI” or the “Corporation”) (TSX: TEI) announces the Corporation’s 2019 year-end reserves. 2019 Reserves Highlights Proved Developed Producing reserves represent 60% of Proved Reserves. Proved reserves represent 75% of Proved plus Probable Reserves. Corporate Reserves: The reserves data set forth below … Read more
March 13, 2020 Reuters Canada is weighing a multi-billion dollar aid package for industries hit hardest by the coronavirus outbreak, such as the tourism, energy and hospitality sectors, a source directly familiar with the matter said on Friday.Such an aid package would help Canada’s 10 provinces take their own action to provide relief for families, workers … Read more
Yogi Schulz @itworldca Published: March 13th, 2020 The coronavirus is spreading rapidly. The media is full of related articles. More and more of your employees and customers are becoming anxious about personal impacts and disruption. Panic buying is emptying store shelves of various products. Fewer people are attending events or leaving their homes for discretionary … Read more
March 13, 2020 Journey Energy Inc. has been ordered to pay a $125 000 fine for a pipeline failure that happened in June 2017. The company pled guilty to one charge under the Environmental Protection and Enhancement Act in provincial court. Journey’s plea comes after a mixture of crude oil and produced water was released from two … Read more
By Jeff Black Mar 13, 2020 (Bloomberg)It can’t be an easy time to be a Chinese factory owner. At the turn of this year, with a trade deal with the U.S. about to be signed, the future looked brighter. The global economy seemed to be stabilizing, and the great slowdown in China was under control. … Read more
By Lorcan Roche Kelly Mar 13, 2020 (Bloomberg) Stocks try to bounce back, central banks step up efforts, and more coronavirus curbs. Here are some of the things people in markets are talking about today. Moving up The rout in global stocks that saw U.S. indexes close around 10% lower yesterday is showing some signs of pausing, if not … Read more
By Alex Longley Mar 13, 2020 (Bloomberg) Oil is headed for its largest weekly collapse since 2008 as a bitter price war erupted between Saudi Arabia and Russia, and coronavirus contagion cratered demand.Futures in New York are down 18% this week. The crude surplus may reach a record high by April as the two former OPEC+ … Read more
By Julian Lee Mar 13, 2020 (Bloomberg) Oil demand growth forecasts have been slashed to their lowest in more than a decade, just as OPEC producers and their allies abandon their four-year-old attempt to limit supply and prop up prices. One of the world’s leading oil forecasting agencies already saw stockpiles soaring this year, even before producers embark on … Read more
By Rachel Adams-Heard, David Wethe, Steve Matthews and Reade Pickert Mar 13, 2020 (Bloomberg) Just last week, when crude oil prices fell to $46 a barrel, the mayor of the biggest city in the world’s largest shale oil patch seemed oddly calm, almost relieved.Midland, in the heart of the Permian Basin in Texas, could use something … Read more
CALGARY — ARC Resources Ltd. cut its capital budget and slashed its dividend to help deal with the plunge on commodity markets.
The oil and gas producer says it has reduced its capital budget for this year to no more than $300 million compared with an…
March 12, 2020 | Source: STEP Energy Services Ltd. CALGARY, Alberta, March 12, 2020 (GLOBE NEWSWIRE) — STEP Energy Services Ltd. (the “Company” or “STEP”) is pleased to announce its financial and operating results for the three and twelve months ended December 31, 2019. The following press release should be read in conjunction with the management’s … Read more
CALGARY — Husky Energy Inc. is cutting spending this year by $1 billion in the wake of the downturn in the global energy market.
The Calgary-based energy company says it’s reducing its capital spending program for this year by $900 million.
Husky says…
March 12, 2020 CNW CALGARY, March 12, 2020 /CNW/ – Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation“) (TSX: TWM) is pleased to announce that it has filed its annual consolidated financial statements and Management’s Discussion and Analysis (“MD&A“) for the year ended December 31, 2019. Recent Market Volatility Tidewater takes the severe downturn in the energy industry very seriously and … Read more
March 12, 2020 | Source: Gran Tierra Energy Inc. Decisive Action Taken to Reduce 2020 Capital Program in Response to Decrease in Oil Prices Reduction in Capital Program From $200-220 Million to $60-80 Million, Maintaining Balance Sheet Strength Acordionero Field Remains Main Focus of 2020 Development Activity CALGARY, Alberta, March 12, 2020 (GLOBE NEWSWIRE) — Gran … Read more
March 12, 2020 | Source: High Arctic Energy Services Inc. NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW CALGARY, Alberta, March 12, 2020 (GLOBE NEWSWIRE) — High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” … Read more
By Robert Tuttle Mar 12, 2020 (Bloomberg) As if pipeline bottlenecks, mandatory output curbs and growing hostility to the oil sands weren’t enough, Canada’s energy industry now faces new competition from cheap Saudi crude headed to the U.S. Gulf Coast.Saudi Arabia has booked at least eight supertankers to load this month and next from the kingdom’s main oil … Read more
By Divya Balji and Michael Bellusci Mar 12, 2020 (Bloomberg) Canadian stocks suffered a stunning 12% drop, the largest in eight decades, as investors size up the likelihood of a global recession because of the coronavirus pandemic.The S&P/TSX Composite Index had its biggest one-day decline since May 1940, according to data compiled by Bloomberg. The 230 … Read more
March 12, 2020 Globe Newswire This news release contains references to the non-GAAP financial measure “debt to capital”. Please refer to “Non-GAAP Measures” at the end of this news release. CALGARY, Alberta – Husky Energy is taking a series of actions to fortify its business in response to challenging global market conditions. These initiatives reflect the … Read more
CALGARY — An energy company has been fined $125,000 for a pipeline failure southwest of Edmonton nearly three years ago.
Calgary-based Journey Energy Inc. was originally facing five charges under the Environmental Protection and Enhancement Act.
It pl…
JONATHAN HAYWARD/THE CANADIAN PRESS Announced with such promise and amid great fanfare, the prospective agreement reached between Ottawa, B.C. and Wet’suwet’en hereditary chiefs lives on much shakier ground today. Though details of the proposed pact have yet to be released, there are enough worrying signs emanating from the Wet’suwet’en Nation to conclude that the … Read more
CALGARY — A two-year-old who recently returned from a family vacation in Florida is among four new COVID-19 cases confirmed in Alberta, prompting a daycare in a downtown Calgary office tower to temporarily shut down.
Suncor Energy spokeswoman Erin Ree…
By Susanne Barton Mar 12, 2020 Bad news for the Canadian dollar is piling up with strategists seeing no end in sight.The loonie fell to a four-year low versus the dollar Thursday after posting it’s biggest one-day drop in a decade earlier this week. Volatility in the currency pair climbed to the highest level since … Read more
By Lorcan Roche Kelly Mar 12, 2020 (Bloomberg) Stocks plunge again, Trump’s speech spooks investors, and it’s ECB decision day. Here are some of the things people in markets are talking about today. Bear all Yesterday’s 5.9% slump in the Dow Jones Industrial Average pushed the blue-chip index into a bear market, and that trend is spreading across the … Read more
By Dina Khrennikova and Olga Tanas Mar 12, 2020 (Bloomberg) A flood of discounted Saudi crude is heading for Europe, but Russia might just have the only producers in the world equipped to compete with it.With some of the world’s lowest production costs, a flexible tax system and a free-floating ruble, Russian companies can keep pumping, … Read more
By Elizabeth Low and Alex Longley Mar 12, 2020 (Bloomberg) Oil slumped further after President Donald Trump said the U.S. would restrict travel from Europe for the next 30 days in an attempt to contain the coronavirus, pummeling fuel demand.Futures in London fell as much as 7% with the market’s structure continuing to collapse. Trump also called on … Read more
March 11, 2020| Source: Saturn Oil + Gas Inc CALGARY, Alberta, March 11, 2020 (GLOBE NEWSWIRE) — Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX.V: SOIL) (FSE: SMK) is pleased to announce the appointment of Mr. Jim Payne to Saturn’s Board of Directors. Mr. Payne is currently Chief Executive Officer of dynaCERT Inc. (“dynaCERT”), a Canadian … Read more
March 12, 2020| Source: Pipestone Energy Corp 2020 Capital Program and Operations Update Refer to map PDF available: http://ml.globenewswire.com/Resource/Download/18cea642-18d4-47a8-b136-7cd343f1e186 CALGARY, Alberta, March 12, 2020 (GLOBE NEWSWIRE) — (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) announces reduced guidance in response to current commodity prices, an update on capital efficiencies achieved and encouraging early production results from its 6-24 … Read more
March 12, 2020 | Source: Delphi Energy Corporation CALGARY, Alberta, March 12, 2020 (GLOBE NEWSWIRE) — Delphi Energy Corp. (“Delphi” or the “Company”) is pleased to announce its financial and operational results and reserves for the year ended December 31, 2019. 2019 HIGHLIGHTS During 2019, the Company incurred $26.8 million in capital expenditures while generating $52.6 million of adjusted funds flow; … Read more
CALGARY — A deal to sell its Pioneer Pipeline will help insulate Calgary-based Tidewater Midstream and Infrastructure Ltd. from a “severe downturn” that’s afflicted the energy industry for the past three years, the company’s CEO said Thursday.
The pro…
March 12, 2020 | Source: TC Energy Corporation CALGARY, Alberta, March 12, 2020 (GLOBE NEWSWIRE) — Media Advisory – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) today announced that its wholly owned subsidiary, NOVA Gas Transmission Ltd. (NGTL), has executed an exclusive letter of intent with Tidewater Midstream and Infrastructure Inc. and TransAlta Corporation to … Read more
Are you committed to a safe working environment? Do you find travelling internationally for training cumbersome? If so, then we have great news for you! CWB Group in partnership with ATCO is now offering its first Canada-focused Hydrostatic training program. Our introductory program was launched in January of this year and is a must-have for … Read more
Published by Shawn Logan on March 11, 2020 Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A worker checks steel pipe at the Tenaris plant in Sault Ste. Marie, Ont. Photograph supplied for Canadian Energy Centre Nestled in forested hills on the northern tip of Lake Huron, Sault … Read more
March 11, 2020 Reuters Canadian heavy crude’s discount narrowed versus U.S. benchmark West Texas Intermediate (WTI) oil on Wednesday, held in check by weak global prices and declining inventories.Western Canada Select (WCS) heavy blend crude for April delivery in Hardisty, Alberta, was trading at $12.75 per barrel below WTI, according to NE2 Canada Inc, tighter than … Read more
JONATHAN HAYWARD/THE CANADIAN PRESS The Liberals campaigned during the fall election on a promise to ban some single-use plastics as early as 2021, as part of a national strategy to reduce waste and pollution. The federal government intends to designate plastics as toxic substances, a move industry stakeholders say is unduly aggressive and detrimental … Read more
March 11, 2020 Globe Newswire CALGARY, Alberta – Painted Pony Energy Ltd. (“Painted Pony” or the “Corporation”) (TSX: PONY) is pleased to announce fourth quarter and full-year 2019 financial and operating results, year-end 2019 reserves, 2020 first-half capital spending, and anticipated future reductions to transportation, processing, and general and administrative expenses (“G&A“). HIGHLIGHTS Reduced bank debt … Read more
CALGARY — Players in Canada’s oilpatch are continuing to cut capital spending plans in the wake of this week’s sharp plunge in oil prices.
After markets closed Wednesday, Birchcliff Energy Ltd. said it would defer about $65 million or 19 per cent of i…
March 11, 2020 Newsfile Calgary, Alberta – Pine Cliff Energy Ltd. (TSX: PNE) (“Pine Cliff” or the “Company“) is pleased to announce its year-end financial and operating results and the filing of its 2019 disclosure documents. Included in the filings were Pine Cliff’s annual information form (“AIF“), which includes disclosure and reports related to reserves data … Read more
March 11, 2020 CNW CALGARY – Gear Energy Ltd. (“Gear“) (TSX: GXE) announces revisions to the 2020 budget guidance and an update on operations to date in 2020. 2020 GUIDANCE Given the current weakness and uncertainty in the future price of oil, Gear has chosen to immediately implement a material reduction to its planned capital program for … Read more
March 11, 2020 Reuters Global oil demand is expected to dive by 910,000 barrels per day (bpd) in the first quarter, the U.S. Energy Information Administration (EIA) said on Wednesday, as the rapid spread of coronavirus has slammed economic activity and travel, raising the specter of a global recession. Oil prices plunged by the most in … Read more
OTTAWA — Canada’s largest labour organization and the group that bills itself as the voice of business in this country have set aside their differences to jointly confront the economic fallout from the rampaging novel coronavirus — and they’re hoping …
By Jacqueline Thorpe and Aoyon Ashraf Mar 11, 2020 (Bloomberg) An international mining conference attended by more than 23,000 people in Toronto is at the center a new case of coronavirus with the potential for global spread. A man in his 50s tested positive for Covid-19 after attending the convention, which ran from March 1 to 4. The … Read more
March 11, 2020 CALGARY, Alberta – Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce that it has filed its audited annual financial statements and related management’s discussion and analysis (the “MD&A”) and its annual information form (the “AIF”) for the financial year ended December 31, 2019 (collectively, the “Annual Filings”) … Read more
March 11, 2020 Reuters The energy-rich Canadian province of Alberta will curtail oil production if necessary to help an industry which is set to start laying off workers in response to a global price war, its premier said on Wednesday.Premier Jason Kenney said he was worried crude-by-rail shipments could plunge as a result of the price … Read more
Uniquely situated on the border between the provinces of Alberta and Saskatchewan, the Lloydminster Heavy Oil Show is surrounded by thousands of heavy oil wells of both cold and thermal production. This leading edge technology exhibition is a great opportunity for visitors to discover and network with the substantial knowledge base that exhibitors bring … Read more
CALGARY — Alberta Premier Jason Kenney flew to Ottawa on Wednesday with a list of demands and a key message for the prime minister to focus on the economy.
Kenney and his fellow premiers are to meet with Prime Minister Justin Trudeau amid growing conc…
OTTAWA — The federal government rolled out a $1-billion package Wednesday to help the country’s health-care system and economy cope with the novel coronavirus outbreak as the number of cases in Canada grew, Prime Minister Justin Trudeau warned that th…
By Lorcan Roche Kelly Mar 11, 2020 (Bloomberg) More central bank action, more stimulus promised, and more market volatility. Here are some of the things people in markets are talking about today. Rate cuts The Bank of England cut its main rate by 50 basis points to 0.25% this morning in its first emergency move since the financial crisis. The announcement … Read more
CALGARY — Bonterra Energy Corp. is suspending its dividend in the face of the volatility and weakness in global energy markets.
The company says its focus remains on protecting the balance sheet, preserving the inherent value of its assets and retaini…
By Elizabeth Low and Grant Smith Mar 11, 2020 (Bloomberg) Oil’s rebound from its biggest crash in a generation halted after Saudi Arabia said it would boost its production capacity, and the United Arab Emirates joined them in raising supplies.Brent crude fell 3.4% in London after being up almost 7% earlier. Saudi Aramco said Wednesday it … Read more
By Kevin Orland Mar 10, 2020 (Bloomberg) The first capital spending boost in Canada’s oil sands in half a decade is in doubt after the global oil-price plunge prompted one major explorer to slash its 2020 budget. Cenovus Energy Inc. is cutting spending by 32% to a range of C$900 million ($653 million) to C$1 billion, suspending its … Read more
March 10, 2020 | Source: Parex Resources Inc. CALGARY, Alberta, March 10, 2020 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX:PXT) is pleased to announce its financial and operating results for the year and the three months ended (“Fourth Quarter” or “Q4”) December 31, 2019. All amounts herein are in United States dollars (“USD”) … Read more
March 10, 2020 | Source: Cordy Oilfield Services Inc. CALGARY, Alberta, March 10, 2020 (GLOBE NEWSWIRE) — Cordy Oilfield Services Inc. (“Cordy” or the “Company”) (TSX VENTURE: CKK) is pleased to announce that its wholly owned subsidiary Cordy Environmental Inc. (“CEI”) has entered into an asset purchase agreement dated March 10th, 2020 with Platinum North Resources … Read more
March 10, 2020 Business Wire Revised fully funded budget proactively maintains the company’s balance sheet strength and corporate resilience at current futures pricing CALGARY, Alberta–(BUSINESS WIRE)–In response to the significant decline in global energy prices, Seven Generations has reduced its previously announced 2020 capital investment budget by 18%, or $200 million, to $900 million. Effective immediately, the … Read more
March 10, 2020 Globe Newswire CALGARY, Alberta – Cequence Energy Ltd. (“Cequence” or the “Company”) (TSX: CQE) is pleased to announce its operating and financial results for the three and twelve months ended December 31, 2019. The Company’s Management’s Discussion and Analysis (“MD&A”) and Consolidated Financial Statements are available at cequence-energy.com and on SEDAR at www.sedar.com. HIGHLIGHTS … Read more
Coronavirus impact highlights the need to transform traditional supply chain models Deloitte authors highlight short-term actions companies can take to respond to business disruption and supply chain challenges from the global spread of COVID-19─and look ahead to the longer-term solution of digital supply networks. Could COVID-19 be the black swan event that finally forces many … Read more
The current oil market has everyone looking at cost control. Rig CallOut will help you eliminate ancillary costs! Visibility to all your oilfield deliveries – no matter who is supplying, shipping or receiving. Even in Canada! It’s not about what Rig CallOut’s technology can do – it’s about what YOU can do with the technology. … Read more
For over 20 years Control Innovations has been a leading Calgary control panel and instrumentation manufacture. We specialize in the manufacture and service of electrical, electromechanical and electronic products. We have a Lifetime warranty on workmanship. We have been quoting the best value to our clients for 20 years! We offer; Contract Electronics & … 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. E&Ps continuing to drill in Canada remain among the most strategic and … Read more
OTTAWA — Federal cabinet ministers are facing pointed questions about why elected band chiefs and women of the Wet’suwet’en Nation who support a disputed natural gas pipeline in British Columbia were not part of meetings with federal and provincial ca…
March 10, 2020 CNW CALGARY – Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) (“Bonterra” or the “Company”) is pleased to announce its operating and financial results for the year ended December 31, 2019. The related financial statements and notes, as well as management’s discussion and analysis (“MD&A”) for the year ended December 31, 2019 and annual information form (“AIF”) as of December … Read more
March 10, 2020 CNW All financial figures are in Canadian dollars ($ or C$) and all references to barrels are per barrel of bitumen sales unless otherwise noted CALGARY – MEG Energy Corp. (TSX:MEG, “MEG” or the “Corporation”) announced today a 20% reduction in its 2020 capital program to $200 million from the original $250 million budget announced November 2019. Capital Program … Read more
March 10, 2020 Reuters Canadian heavy crude’s discount narrowed versus the U.S. benchmark West Texas Intermediate (WTI) crude on Tuesday, as demand remained strong from U.S. Gulf Coast refiners.Western Canada Select (WCS) heavy blend crude for April delivery in Hardisty, Alberta, was trading at $13.15 per barrel below WTI, according to NE2 Canada Inc, narrower than … Read more
March 10, 2020 CNW CALGARY – Crew Energy Inc. (TSX: CR) (“Crew” or the “Company”) is pleased to announce our operating and financial results for the three and twelve month periods ended December 31, 2019. Crew’s full audited consolidated Financial Statements and Notes, as well as Management’s Discussion and Analysis (“MD&A”) for the three and twelve month periods ended December … Read more
Published by CEC Staff Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Katie Smith, Executive Director, Young Women in Energy (YWE) poses at the offices of her employer, Spartan Controls in Calgary, Alberta. Photograph for Canadian Energy Centre Canadian women have made important contributions to advancing the nation’s … Read more
CALGARY — Enbridge Inc. is moving its annual meeting in May online because of concerns about the spread of novel coronavirus.
The Calgary-based energy company says the change for the May 5 event was made “out of an abundance of caution” and to mitigat…
NEW YORK — Stocks on Tuesday recouped most of their historic losses from the prior day as hopes rose, faded and then bloomed again on Wall Street that the U.S. government will try to cushion the economic pain from the coronavirus.
The day’s moves were…
March 10, 2020 Reuters Occidental Petroleum Corp on Tuesday became the latest to join a growing list of hard-pressed North American oil producers slashing spending and drilling after crude prices slumped to their lowest levels in more than three years. Chevron Corp became the first global oil major to say it was also looking to cut … Read more
By Kevin Orland and Robert Tuttle (Bloomberg) The global oil price war may take a heavy toll on the Canadian energy industry, which still hasn’t fully recovered from the last crash that started in 2014.Canadian producers were struggling with a shortage of pipeline space that has weighed on local crude prices and limited their growth prospects, … Read more
FREDERICTON — New Brunswick’s governing Progressive Conservatives tabled a $10.2-billion budget Tuesday that could prove to be their undoing, given their tenuous minority in the legislature.
Finance Minister Ernie Steeves presented the surplus budget …
DUBAI, United Arab Emirates — Saudi Arabia’s state-run oil giant Saudi Aramco said Tuesday it would increase its crude oil production to 12.3 million barrels a day in April, a record amount.
The move seemed to make good on the country’s promise over t…
FREDERICTON — Highlights from the New Brunswick budget presented Tuesday:
— The province’s $10.2 billion budget for 2020-21 includes a projected surplus of $92.4 million.
———
— New Brunswick’s net debt will be reduced by $129.3 million, reaching $13.7…
By Lorcan Roche Kelly Mar 10, 2020 (Bloomberg) Stocks stabilize, Italy closes down, and Saudi Arabia opens the taps. Here are some of the things people in markets are talking about today. Bounce Stocks around the world are rising the day after the deepest rout since the great financial crisis. Overnight Japan’s Topix index closed higher as the government there looked set to … Read more
By Aoyon Ashraf Mar 10, 2020 (Bloomberg) Canadian stocks surged on signs more governments will unleash fiscal stimulus to help counter the impacts of the coronavirus, with energy companies leading the way. The S&P/TSX Composite Index jumped 3.7% to 15,046.38 at 9:32am in Toronto on Tuesday. All sectors were in the positive territory with energy stocks rising the … Read more
March 10, 2020 Reuters Oil prices jumped more than 10% on Tuesday, clawing back some ground on hopes that a price war by top producers Saudi Arabia and Russia that sparked the biggest daily rout since the 1991 Gulf War will not be sustained. U.S. shale producers also rushed to deepen spending cuts and could reduce … Read more
March 9, 2020 PR Newswire DENVER – Ovintiv Inc. (NYSE, TSX: OVV) today provided additional information related to its strong capital structure and liquidity. In addition, the Company has great flexibility to quickly adapt operations to changing market conditions. “In addition to our liquidity, we have substantial operational flexibility and a track record of driving cost reductions … Read more
March 10, 2020 Globe Newswire CALGARY, Alberta – Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) announces that Ms. Cheree Stephenson has tendered her resignation as VP Finance and Chief Financial Officer to pursue other business opportunities. Ms. Stephenson has advised she will remain with the Company until mid April 2020 to allow Management and … Read more
March 9, 2020 CNW CALGARY – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce its financial and operating results for the quarter and year ended December 31, 2019, and its year-end 2019 reserves, as evaluated by Sproule. MESSAGE TO THE SHAREHOLDERS Surge had a solid year in 2019. The Company’s 2019 production averaged … Read more
March 9, 2020 CNW CALGARY – Journey Energy Inc. (JOY – TSX; JRNGF – OTCQX) (“Journey” or the “Company“) is pleased to announce its 2019 operating and financial results. The complete set of financial statements and management discussion and analysis for the year ended December 31, 2019 are posted on www.sedar.com and on the Company’s website www.journeyenergy.ca. Highlights for 2019 were: The Duvernay joint … Read more
March 10, 2020 The Canadian Press Alberta Premier Jason Kenney says his government will do whatever it takes to rescue the province from an oil price collapse and he wants the federal government to step up as well.“This is not just about Alberta. As Alberta goes, so goes the national economy,” Kenney said in Calgary on … Read more
March 9, 20209 Globe Newswire CALGARY, Alberta – Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is reducing its 2020 capital spending by approximately 32% in order to maintain the strength of its balance sheet. Cenovus is also temporarily suspending its crude-by-rail program and deferring final investment decisions on major growth projects. These measures are being … Read more
By Lorcan Roche Kelly Mar 10, 2020 (Bloomberg) Stocks stabilize, Italy closes down, and Saudi Arabia opens the taps. Here are some of the things people in markets are talking about today. Bounce Stocks around the world are rising the day after the deepest rout since the great financial crisis. Overnight Japan’s Topix index closed higher as the government there looked set to … Read more
By Rachel Adams-Heard and Kevin Crowley Mar 10, 2020 (Bloomberg) America’s shale producers already had a profitability problem. It just got a lot worse.At a stroke, Saudi Arabia and Russia and their battle for market share have made almost all U.S. shale drilling unprofitable. Only five companies in two areas of the country have breakeven costs lower than the current … Read more
VANCOUVER—The federal government should recognize that its plan to legislate a United Nations declaration conflicts with Canadian constitutional law and will likely cause legal chaos, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank. “Inserting yet more ambiguous language into Canadian law, which will inevitably affect the … Read more
By Jack Wittels and Elizabeth Low Mar 10, 2020 (Bloomberg) Oil refiners’ margins may draw some temporary benefits from the plunge in crude prices, but it won’t be enough to offset the coronavirus’ hit to fuel demand and new plants coming online.Although crude prices have collapsed due to a price war between Russia and Saudi Arabia, product prices … Read more
By Matthew Martin, Javier Blas and Grant Smith Mar 10, 2020 (Bloomberg) Saudi Arabia escalated its oil price war with Russia on Tuesday, as its state-owned company pledged to supply a record 12.3 million barrels a day next month, a massive increase to flood the market. The supply hike — more than 25% higher than last … Read more
CALGARY — Forecasts for a stand-pat year for drilling in 2020 in the Canadian oilpatch are up in the air following an oil price crash Monday linked to a dispute between Russia and Saudi Arabia over oil production cuts.
In its 2020 forecast in November…
Registration Closes Mar 11th GET TICKETS HERE – www.petroleumaccountants.com/events/insights non-members welcome! earn up to four hours of verifiable CPD credits Topics: Redwater: A post-Mortem & Legal Perspective Ashley Weldon & Tasha Wood, Burnet, Duckworth & Palmer LLP, Charla Smith, Hardie & Kelly The Orphan Well Association & Its Challenges Lars Depauw, Orphan Well Association Understanding … Read more
Acero Engineering Inc. (Acero) is pleased to announce that they are now certified and meet all the requirements of ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 standards. The certifications demonstrate Acero’s ongoing commitment to the needs of all stakeholders through quality assurance, continuous improvement, consistency, and efficiencies in the areas of QA/QC, Safety and the Environment … Read more
CALGARY — The CEO of the Canada Pension Plan Investment Board says Monday’s oil price crash and stock market selloff will hurt Canadian energy companies that have weak balance sheets and high debt.
But Mark Machin says those with strong books will sur…
OTTAWA — Finance Minister Bill Morneau sought to ease the concerns over the novel coronavirus outbreak on a day where financial markets dropped along with the price of oil, and the Liberals said they were preparing help for a worst-case economic scena…
CALGARY — World oil prices are in free fall after Saudi Arabia slashed its crude sale price Sunday, signalling the start of a price war after OPEC talks with Russia broke down without an agreement on production cuts. The threat of increased crude supp…
March 9, 2020 Reuters Global oil demand is set to contract in 2020 for the first time in more than a decade as global economic activity stalls due to the coronavirus, the International Energy Agency said on Monday. The downward revision came as oil prices dropped as much as third in their biggest one-day fall since … Read more
By Geoffrey Cann The novel corona virus number 19 is laying waste to people, industries and economies, but what lessons does this human viral scourge have to teach those of us embracing digital in oil and gas? The Backstory In case you’ve shut yourself off from the wave of virus porn that has overwhelmed the … Read more
March 9, 2020 Reuters Saudi Arabia has detonated a metaphorical nuclear weapon in the global oil market, blowing up prices and trade relationships with its decision to slash the cost of its own crude while ramping up output.The Saudi move was no shot across the bows aimed at Russia’s reluctance to extend and boost a deal … Read more
Calgary, Alberta–(Newsfile Corp. – March 9, 2020) – Kelt Exploration Ltd. (TSX: KEL) (“Kelt” or the “Company”) has released its financial and operating results for the fourth quarter and year ended December 31, 2019. The Company’s financial results are summarized as follows: FINANCIAL HIGHLIGHTS Three months ended December 31 Year ended December 31 (CA$ thousands, … Read more
By Joe Carroll, Rachel Adams-Heard, David Wethe and Kevin Crowley Mar 9, 2020 (Bloomberg) America’s shale drillers have never faced an oil bust quite like this.The split between Russia and its one-time OPEC allies last week has ignited an all-out price war, leaving oil markets defenseless against the unprecedented demand shock brought on by the coronavirus. Crude … Read more
By Lorcan Roche Kelly Mar 9, 2020 (Bloomberg) Oil crashes, stocks plunge, and Treasury yields crater. Here are some of the things people in markets are talking about today. Ugly On what is shaping up to be a day for the history books in markets, some of the biggest moves are in the oil market. Following a meeting … Read more
CALGARY — Ensign Energy Services Inc. says it lost $71.6 million in its latest quarter compared with a profit of $154.8 million in the same quarter a year earlier.
The oilfield services company says the loss amounted to 44 cents per diluted share for …
EDMONTON — Premier Jason Kenney says the novel coronavirus outbreak is hammering Alberta’s economy and may force his government to abandon its core election promise to balance the books by 2023.
“It does appear, based on all evidence right now, that t…
By Verity Ratcliffe, Akshat Rathi and Enda Curran (Bloomberg) —Another shockwave is about to rip through a world economy already reeling from the coronavirus. Oil prices plunged after the dramatic breakdown of talks between OPEC and Russia prompted Saudi Arabia to launch a price war. Brent crude tumbled by almost a third to $31 a barrel on … Read more
Canada’s drilling rig count is down 37 actively drilling rigs according to data collected by Baker Hughes for the week ending March 6, 2020. From one week ago, Alberta rig counts decreased 20 to 139 and the Saskatchewan rig counts decreased 16 to 43. Oil drilling decreased 29 to 134 and gas decreased 8 to … Read more
By Dan Murtaugh and Alfred Cang Mar 8, 2020 (Bloomberg) Oil markets crashed more than 30% after the disintegration of the OPEC+ alliance triggered an all-out price war between Saudi Arabia and Russia that is likely to have sweeping political and economic consequences.Brent futures suffered the second-largest decline on record in the opening seconds of trading … Read more
March 7, 2020 At 10:16 a.m. on a wet and dreary Friday morning, Russia’s energy minister walked into OPEC’s headquarters in central Vienna knowing his boss was ready to turn the global oil market upside down. Alexander Novak told his Saudi Arabian counterpart Prince Abdulaziz bin Salman that Russia was unwilling to cut oil production … Read more
By Javier Blas and Anthony DiPaola Mar 8, 2020 (Bloomberg) Saudi Arabia plans to boost oil output next month to well above 10 million barrels a day, as the kingdom responds aggressively to the collapse of its OPEC+ alliance with Russia.The world’s largest oil exporter engaged in an all-out price war on Saturday by slashing pricing … Read more
PROCESS GAS SAMPLING SYSTEM INTRODUCTION The increased production of natural gas from unconventional sources, such as shale gas formations and deep-water offshore platforms, has created a need for more sampling points closer to the wellhead and gathering sites. Large quantities of free liquids are often continuously present at these sample points – hydrocarbons, water, corrosion … Read more
By Koleya Karringten This is the home I chose for my family and business, and I’m proud to be an Albertan. Lately though, I admit I’ve felt a bit on the defensive. In my work as the CEO of my cleantech firm, Absolute Combustion, and as the Executive Director of the Canadian Blockchain Consortium, I … Read more
By Anthony DiPaola and Javier Blas Mar 8, 2020 (Bloomberg) Saudi Arabia kicked off an all-out oil war on Saturday, slashing official pricing for its crude and making the deepest cuts in at least 20 years on its main grades, in a bid to push as many barrels into the market as possible.The cuts in monthly … Read more
CALGARY HERALD Updated: March 3, 2020 Mark Scholz – President and CEO of the Canadian Association of Oilwell Drilling Contractors.It’s three strikes and you’re out in Canada’s beleaguered resource sector, says columnist. Jose Bautista of the Toronto Blue Jays strikes out at Rogers Centre on Sept. 19, 2017, in Toronto. TOM SZCZERBOWSKI / GETTY IMAGES In … Read more
By Kevin Orland Mar 6, 2020 (Bloomberg) —Hopes that Canada could turn into a gas export powerhouse seem to be waning fast. The current climate for energy investments in the country and the global market for liquefied natural gas are a far cry from October 2018, when a Royal Dutch Shell Plc-led group announced plans to … Read more
March 6, 2020 Reuters Canadian heavy crude’s discount narrowed versus the U.S. benchmark West Texas Intermediate (WTI) crude on Friday, nearing a fresh five-month low due to plunging global prices and dwindling Alberta inventories.Traders took in stride a fire at Canada’s Syncrude oil sands facility, which led to the company declaring force majeure. The site upgrades … Read more
March 06, 2020 Richard B. Swan, Partner Preet K. Bell, Partner The novel Coronavirus (COVID-19) was first reported from Wuhan, China, on December 31, 2019, and has been rapidly spreading since, with the outbreak now declared a global health emergency by the World Health Organization (WHO). A consideration that arises in the commercial sphere is whether a … Read more
By Catherine Ngai Mar 6, 2020 (Bloomberg) The OPEC+ alliance’s dramatic failure to reach an output deal is most obviously being felt in oil futures, which plunged the most since 2008 in London. A look at the less-conspicuous corners of the market reveal the scale of the impact.The potential collapse of the group led by Saudi Arabia and Russia is the latest … Read more
By Catherine Ngai Mar 6, 2020 (Bloomberg) The OPEC+ alliance’s dramatic failure to reach an output deal is most obviously being felt in oil futures, which plunged the most since 2008 in London. A look at the less-conspicuous corners of the market reveal the scale of the impact.The potential collapse of the group led by Saudi Arabia and Russia is the latest … Read more
VICTORIA — Wet’suwet’en hereditary chiefs say Premier John Horgan wasn’t truthful when he said the province had no control over the RCMP before Mounties enforced an injunction against pipeline opponents in northern British Columbia last month.
The chi…
MONTREAL — A Montreal-area commuter rail line will be up and running again this afternoon following more than three weeks of service disruption by a rail blockade on the Mohawk territory of Kahnawake.
Commuter rail operator Exo says the first train is…
March 6, 2020 Reuters Canada’s Syncrude oil sands facility has declared force majeure after a fire at the plant and told customers it will reduce production by about 20%, sources familiar with the matter said. Syncrude is a joint venture majority-owned by Suncor Energy Inc , with minority stakes held by Imperial Oil Ltd and others. … Read more
March 6, 2020 Reuters U.S. energy firms added oil rigs for the fourth time in five weeks even though Exxon Mobil Corp said it would join other producers and reduce new drilling this year. Companies added 4 oil rigs in the week to March 6, bringing the total count to 682, their highest since December, energy … Read more
By Saket Sundria and Alex Longley Mar 6, 2020 (Bloomberg) Oil slumped as Russia resisted pressure from its OPEC allies to make deeper production cuts during high-stakes negotiations in Vienna.Brent fell as much as 5.9% in London to its lowest level since July 2017, extending Thursday’s slide. Russia, the biggest non-OPEC producer in the alliance, doesn’t … Read more
By Golnar Motevalli, Natalia Kniazhevich and Fred Pals Mar 6, 2020 (Bloomberg) Russia resisted pressure from its OPEC allies to make deeper production cuts, pushing the cartel’s high-stakes diplomatic gamble to the brink of failure and sending prices plunging.Energy Minister Alexander Novak arrived from Moscow on Friday morning and told fellow ministers that he favored maintaining … Read more
By Lorcan Roche Kelly Mar 6, 2020 (Bloomberg) Treasury yields plunge, latest on coronavirus, and it’s jobs day. Here are some of the things people in markets are talking about today. Rush to safety The rally in the safest sovereign bonds shows no signs of slowing this morning, with the yield on the 10-year Treasury briefly dropping below 0.7% and on the 30-year … Read more
March 05, 2020 | Source: Parkland Fuel Corporation CALGARY, Alberta, March 05, 2020 (GLOBE NEWSWIRE) — Parkland Fuel Corporation (“Parkland”, “we”, the “Company”, or “our”) (TSX:PKI) announced today its fourth quarter and full-year 2019 financial and operating results and provided its 2020 Guidance. Fourth quarter and full-year highlights include: Fourth quarter Adjusted EBITDA attributable to Parkland … Read more
March 5, 2020 Reuters Canadian heavy crude’s discount narrowed versus the U.S. benchmark West Texas Intermediate (WTI) crude on Thursday, as inventories declined and maintenance season approached for oil sands operations.Western Canada Select (WCS) heavy blend crude for April delivery in Hardisty, Alberta, was trading at $14.05 per barrel below WTI, according to NE2 Canada Inc, … Read more
March 5, 2020 CNW CALGARY – Altura Energy Inc. (“Altura” or the “Company”) (TSX-V: ATU) is pleased to announce an operational update and the results of the independent evaluation of the Company’s oil and natural gas reserves (the “McDaniel Report”), effective December 31, 2019, as prepared by McDaniel and Associates Consultants Ltd. (“McDaniel”). Altura’s audit of its 2019 … Read more
June 9-11, 2020 Calgary, AB Canada IN THE MARKET PLACE While using AI systems with better monitoring and maintenance, it was announced that BP experienced a 72% decrease in methane vented from the field. Additionally, gas production rose 20% using the AI-powered system meanwhile costs were reduced by 22%. The oil and gas sector … Read more
CALGARY — Vermilion Energy Inc. reported a fourth-quarter profit of $1.5 million and cut its dividend in half due to weakness in commodity prices and reduced global economic prospects following the outbreak of the novel coronavirus.
The oil and natura…
March 5, 2020 CNW CALGARY – Yangarra Resources Ltd. (“Yangarra” or the “Company“) (TSX:YGR) announces its financial and operating results for the year ended December 31, 2019. 2019 Highlights Average Production of 12,572 boe/d (47% liquids) an increase of 33% from 2018 Oil and gas sales were $145 million with funds flow from operations of $92 million ($1.08 per share – basic) Adjusted EBITDA (which excludes … Read more
March 5, 2020 CNW CALGARY – Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX and NYSE: CPG) is pleased to announce its operating and financial results for the year ended December 31, 2019. KEY HIGHLIGHTS Successfully completed 2019 program on budget, demonstrating strong operational execution and capital discipline. Reduced net debt by approximately $1.25 billion in 2019, or $1.75 … Read more
As of Jan. 1, every Canadian and all Canadian businesses are paying a price on carbon.
The federal Greenhouse Gas Pollution Pricing Act means provinces that do not have their own price on pollution that meets Ottawa’s standard get the federal carbon t…
March 5, 2020 Reuters Protests along Canadian rail lines and lower government-imposed speed limits last month caused a modest drop in crude shipments on trains, data provider Genscape said on Thursday.Canadian rail loadings in February averaged 346,000 barrels per day (bpd), down from 354,000 bpd in January, suggesting a “fairly minimal impact,” Genscape said in a … Read more
KAHNAWAKE, Que. — A blockade in the Mohawk territory of Kahnawake that halted rail traffic south of Montreal for more than three weeks came to a peaceful end on Thursday as activists voluntarily dismantled their camp next to Canadian Pacific Railway t…
Canada’s central bank was leaning towards cutting its trend-setting interest rate this week before the novel coronavirus pushed it to take a more dramatic step to get ahead of the shock the outbreak will have on the economy, Bank of Canada governor St…
March 5, 2020 CNW CALGARY, March 5, 2020 /CNW/ – Jupiter Resources Ltd. and its affiliates (collectively, “Jupiter” or the “Company”) announced today financial and operating results for the year ended December 31, 2019. Jupiter’s year-end financial results and reserves report have been posted to the investor portal on the Company website. The Company will be hosting a conference … Read more
The economic affects of the coronavirus have preceded the spread of the virus itself, with financial markets swinging wildly, companies closing offices or asking employees work from home in affected areas, and throttling air travel across the globe. F…
NEW YORK — Exxon Mobil plans to reduce the number of oil rigs operating in an oil-rich region in the Southwest and may cut planned capital expenditures as the spreading coronavirus saps energy demand.
The price of a barrel of oil has fallen more than …
WINNIPEG — Caught between a federal government demanding a rising carbon tax and some Progressive Conservative supporters opposed to any such levy, Manitoba Premier Brian Pallister offered a compromise of sorts Thursday.
He said Manitoba will enact a …
VICTORIA — Police say five people have been arrested following a protest at the British Columbia legislature.
Victoria police say the five were taken into custody at about 9 p.m. Wednesday and each faces a charge of mischief.
Police say there were no …
BY STAFF THE CANADIAN PRESS Posted March 5, 2020 The Trans Mountain pipeline expansion project has cleared another legal hurdle.The Supreme Court of Canada has decided not to hear five challenges from environment and Indigenous groups from British Columbia.Some had wanted the top court to consider whether the Liberal cabinet violated the Species at Risk Act when it … Read more
OTTAWA — The Trans Mountain pipeline expansion project has cleared another legal hurdle.
The Supreme Court of Canada has decided not to hear five challenges from environment and Indigenous groups from British Columbia.
Some wanted the top court to con…
By Lorcan Roche Kelly Mar 5, 2020 (Bloomberg)Coronavirus outbreak dominates everything, government spending ramps up, and OPEC ministers agree output cut. Here are some of the things people in markets are talking about today. Contagion While there is some good news in the moderation of fatalities in China, the source of the global coronavirus outbreak, the spread of the illness continues. … Read more
By Alex Longley Mar 5, 2020 (Bloomberg) Oil traded near $47 a barrel in New York as OPEC ministers laid the ground for a large production cut, without first overcoming Russia’s opposition to the move.Crude swung between gains and losses as details of the proposal emerged. Ministers meeting in Vienna backed a 1.5 million-barrel-a-day reduction, but it became … Read more
By Dina Khrennikova, Golnar Motevalli and Salma El Wardany Mar 5, 2020, (Bloomberg) OPEC ministers took a gamble, recommending a large production cut without first overcoming Russian opposition.The cartel is seeking to offset the demand hit from the coronavirus epidemic, which has caused prices to slump. But if Moscow doesn’t accept the proposal on Friday “there will be … Read more
March 04, 2020| Source: ClearStream Energy Services Inc. CALGARY, Alberta, March 04, 2020 (GLOBE NEWSWIRE) — ClearStream Energy Services Inc. (“ClearStream” or the “Company”) (TSX: CSM) today announced its results for the three and twelve months ended December 31, 2019. All amounts are in Canadian dollars and expressed in thousands of dollars unless otherwise noted. “EBITDAS” … Read more
March 05, 2020 | Source: Arrow Exploration Corp. CALGARY, Alberta, March 05, 2020 (GLOBE NEWSWIRE) — ARROW Exploration Corp. (“Arrow” or the “Company”) (TSXV: AXL) received an originating application (the “Application”) on Monday March 2, 2020 from John Newman, CFO of Arrow, as the applicant. The Application names Ravi Sharma, Juan Carlos Salazar, Luis Baena, Anthony Zaidi, … Read more
March 4, 2020 The Canadian Press CALGARY – Alberta’s top court is allowing a dozen submissions to be heard from advocacy groups and First Nations in the province’s constitutional challenge to Ottawa’s revamped environmental assessment rules Alberta’s United Conservative government has argued no new pipelines would be built under the Impact Assessment Act, part of the … Read more
March 4, 2020 All financial figures are in Canadian dollars ($ or C$) and all references to barrels are per barrel of bitumen sales unless otherwise noted CALGARY – MEG Energy Corp. (TSX:MEG, “MEG” or the “Corporation”) reported its full year 2019 operational and financial results. Highlights include: Free cash flow of $528 million driven by adjusted funds flow … Read more
March 4, 2020 Globe Newswire CALGARY, Alberta – Peyto Exploration & Development Corp. (“Peyto” or the “Company”) is pleased to report operating and financial results for the fourth quarter and 2019 fiscal year. A 66% operating margin1 and 27% profit margin2 was achieved in 2019, allowing Peyto to deliver a 4% return on capital employed (“ROCE”) and an … Read more
CALGARY — MEG Energy Corp. reported a profit of $26 million in its latest quarter compared with a loss of $199 million in the same quarter a year earlier.
The company says the profit amounted to nine cents per diluted share for the quarter ended Dec. …
Each week Josef Schachter will give you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold newsletter covering the general energy market and 34 energy and energy service companies with regular updates. He holds quarterly subscriber webinars and provides Action BUY and SELL … Read more
Book your Safety Tickets today at https://bsltraining.ca/ and get a fantastic introductory rate! Each courses is only $110.00 + gst*! BSL is proud to offer the following courses: H2S Alive Red Cross First Aid & CPR Fall Protection (OSSA) Confined Space (OSSA) *Offer available for a limited time only. Special offer ends May 31, 2020! We look forward … Read more
CALGARY — Canadian Natural Resources Ltd. raised its dividend as it reported a profit in its most recent quarter compared with a loss in the same period a year earlier.
The energy company says it will now pay a quarterly dividend of 42.5 cents per sha…
VANCOUVER — Assembly of First Nations National Chief Perry Bellegarde says it’s up to all Wet’sewet’en people to work through the draft agreement struck on Sunday between their hereditary chiefs and senior Canadian officials.
The agreement is the resu…
OTTAWA — Canadians can expect more disruptive protests if the federal government pushes forward with the Trans Mountain pipeline expansion against the wishes of some of the Indigenous communities it will pass through, says a British Columbia lawyer an…
March 4, 2020 The Canadian Press VICTORIA – B.C. Premier John Horgan questions what is being achieved by ongoing protests at the legislature, but he won’t ask dozens of people camped at the building’s ceremonial gates to leave. Horgan made the comments following a rally today by University of Victoria students who walked out of … Read more
March 4, 2020 Reuters Canadian heavy crude’s discount widened versus the U.S. benchmark West Texas Intermediate (WTI) crude on Wednesday, in a modest correction after touching the narrowest level in five months.Western Canada Select (WCS) heavy blend crude for April delivery in Hardisty, Alberta, was trading at $14.60 per barrel below WTI, according to NE2 Canada … Read more
By Grant Smith, Dina Khrennikova and Salma El Wardany Mar 4, 2020 (Bloomberg) OPEC+ found itself stuck yet again, after a day of talks ended with its two most important members split over whether they should deepen production cuts to offset the huge demand hit from the coronavirus epidemic. With oil prices down more than 20% since the … Read more
March 04, 2020 | Source: Headwater Exploration Inc. CALGARY, Alberta, March 04, 2020 (GLOBE NEWSWIRE) — Headwater Exploration Inc. (formerly Corridor Resources Inc.) (“Headwater” or the “Company“) (CDH: TSX) is pleased to announce that it has completed its previously announced financing transactions for aggregate gross proceeds of $50.0 million, the appointment of a new management team (the “New Management … Read more
March 4, 2020 Globe Newswire CALGARY, Alberta – Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to provide its 2019 year-end results and annual reserves. 2019 Corporate Highlights Production: Annual production of ~36,200 boe/d (87% liquids) which included ~10,100 boe/d (54% liquids) in Light Oil and ~26,100 bbl/d in Thermal Oil. Funds Flow, Capital … Read more
VICTORIA — B.C. Premier John Horgan questions what is being achieved by ongoing protests at the legislature, but he won’t ask dozens of people camped at the building’s ceremonial gates to leave.
Horgan made the comments following a rally Wednesday by …
CALGARY — Alberta’s top court is allowing a dozen submissions to be heard from advocacy groups and First Nations in the province’s constitutional challenge to Ottawa’s revamped environmental assessment rules
Alberta’s United Conservative government ha…
March 4, 2020 CNW CALGARY – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) is pleased to release financial and operating results for the full year and fourth quarter of 2019 as well as 2019 reserves results. The Company delivered strong returns to shareholders, annual growth and demonstrated continued financial resilience in this very challenging energy cycle. HIGHLIGHTS … Read more
CALGARY — A delayed inspection and a failure to predict how fast cracks could develop from corrosion are cited in a report describing the cause of an explosion and fire in an Enbridge Inc. natural gas pipeline northeast of Prince George, B.C., in Octo…
By Sharon Cho and Alex Longley Mar 4, 2020 (Bloomberg) Oil rose for a third day after Saudi Arabia pushed for a deeper output cut than OPEC’s technical committee recommended a day earlier. The Saudis are looking for a cut of more than 1 million barrels a day, after the Joint Technical Committee suggested an supply reduction of … Read more
Mar 4, 2020 (Bloomberg) —Biden bounces back, more coronavirus measures, and Treasury yields continue to tumble. Here are some of the things people in markets are talking about today. Super Joe Joe Biden staged a remarkable comeback in yesterday’s Super Tuesday primaries, upending the odds to win in both Texas and Massachusetts. He is now expected to be close … Read more
By Javier Blas and Jackie Davalos Mar 4, 2020 (Bloomberg) Goldman Sachs Group Inc. became the first major Wall Street bank to anticipate that global oil demand will contract in 2020 for only the fourth time in nearly 40 years.The dire forecast came just as influential oil-market consultants, Facts Global Energy and IHS Markit, also published … Read more
By Grant Smith, Salma El Wardany and Will Kennedy Mar 4, 2020 (Bloomberg) Saudi Arabia is urging OPEC+ to agree to an oil-output cut of more than 1 million barrels a day to compensate for the hit to demand from the global spread of the coronavirus, delegates said.The Saudi push reflects mounting concern that growth in … Read more
March 04, 2020 | Source: Baytex Energy Corp. CALGARY, Alberta, March 04, 2020 (GLOBE NEWSWIRE) — Baytex Energy Corp. (“Baytex”)(TSX, NYSE: BTE) reports its operating and financial results for the three months and year ended December 31, 2019 (all amounts are in Canadian dollars unless otherwise noted). “2019 was an exceptional year with $1 billion EBITDA, … Read more
March 3, 2020 Reuters Canadian heavy crude’s discount widened versus the U.S. benchmark West Texas Intermediate (WTI) crude on Tuesday, but remained in a narrow range.Western Canada Select (WCS) heavy blend crude for April delivery in Hardisty, Alberta, was trading at $13.70 per barrel below WTI, according to NE2 Canada Inc, wider than Monday’s settle of … 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. XI Technologies looks at expiring land every month because it can provide … Read more
The Canadian Association of Oilwell Drilling Contractors applauds the Alberta Government for extending a loan to the Orphan Well Association to speed up well reclamation and create jobs. Canada’s oil and gas service sector is in its sixth year of what will likely be regarded as the worst downturn in its history. Beginning in 2014 … Read more
By Michael Bellusci Mar 2, 2020 (Bloomberg) In the oil sands, one billionaire is expanding his lead on another.Murray Edwards’ Canadian Natural Resources Ltd. is favored by investors and analysts, despite the sharp drop in global oil prices over the coronavirus. But the market is losing faith in Husky Energy Inc., controlled by Hong Kong billionaire … Read more
Oilfield, your supply chain is inefficient and broken because it is outdated. You still fax paperwork or receive faxed documents. You still hand-write some of your orders and receive handwritten trucking sheets. You still call a dispatcher to check in on the delivery. You still wait for the original of a BOL to arrive back … Read more
When taking on a new contract, or one that is larger than your company would normally pursue, factoring your receivables can be a viable option to ensure you have the funds in place to complete the project. A larger project can quickly drain your bank account when payroll expenses need to be paid biweekly and … Read more
OTTAWA — A new poll suggests Canadians weren’t happy with Justin Trudeau’s handling of the natural-gas pipeline dispute in British Columbia that led to nationwide rail and road blockades mounted in solidarity with Indigenous leaders who oppose the pro…
OTTAWA — RCMP Staff Sgt. Hugh Stewart did not mince words.
“You have one opportunity to move up that road and clear it off or you will be arrested,” he told protesters at the 1997 Asia-Pacific Economic Co-operation summit in Vancouver.
“I am going to …
OTTAWA — Jean Chretien scoffs at the notion that Indigenous protests and western alienation are a threat to Canada’s national unity.
The former Liberal prime minister said Tuesday that Canada has suffered worse threats in the past and has always manag…
OTTAWA — Prime Minister Justin Trudeau says he knows people are impatient for a resolution to tensions involving a disputed natural gas pipeline in northern British Columbia, but time is needed to respect the traditions of the Wet’suwet’en people.
Spe…
March 3, 20206:00 AM Newsfile Toronto, Ontario – Advantagewon Oil Corp., (CSE: AOC), (OTC Pink: ANTGF), (the “Corporation”, “Advantagewon”, “AOC”) announced today that further to its press release previously issued on February 3, 2020 that the Corporation has completed all of the work on its second Canadian well. The Corporation is pleased to announce that … Read more
Ball, McNeil, Ford the least approved of in the country March 3, 2020 – The blockade crisis surrounding the Coastal GasLink pipeline project has had the country in its grips for weeks now, and the political fallout from it does not appear to have been kind to the provincial leaders at the centre of it. … Read more
By Lorcan Roche Kelly Mar 3, 2020, (Bloomberg) Markets rebound, policymakers meet, and it’s Super Tuesday. Here are some of the things people in markets are talking about today. Rebound There’s been a rapid turnaround in equity markets on the heels of promises from central banks to fight the economic effects of the coronavirus and the scheduled teleconference today with Group … Read more
By Alex Longley Mar 3, 2020, (Bloomberg) Oil extended its rebound from last week’s slump as global policy makers pledged to safeguard markets from the coronavirus, while OPEC and its allies are expected to deepen production cuts.Prices rose 3% in volatile trading. Group of Seven finance chiefs said they’re ready to act to shelter their economies from the spreading coronavirus, … Read more
CALGARY — The Impact Assessment Agency of Canada is inviting public and Indigenous comment on a Suncor Energy Inc. project to open a new mine in order to extend the life of its base oilsands processing facilities near Fort McMurray in northern Alberta…
EDMONTON — Alberta Premier Jason Kenney says it’s going to be a bumpy ride as oil prices fall due to reduced demand tied to the novel coronavirus outbreak.
“I won’t hide it: it frustrates me that I think we’re doing everything that we reasonably can t…
March 2, 2020 Newsfile Calgary, Alberta – Chinook Energy Inc. (TSX: CKE) (“our”, “we”, or “us”) is pleased to announce our three months and year ended December 31, 2019 (“Q419” and “2019”, respectively) operating and financial results and the results of our year end reserve evaluation effective December 31, 2019 as prepared by our independent evaluator. … Read more
VANCOUVER — A Wet’suwet’en elected councillor says she has “high hopes” that internal conflict over governance issues and a pipeline can be resolved respectfully but she’s also concerned some members will not have a chance to participate in the decisi…
VANCOUVER — A B.C. Supreme Court case in 2011 explained the traditional Wet’suwet’en governance system. Here is a look at the decision and how the system works:
Clans and houses: The five Wet’suwet’en clans are each comprised of several houses, 13 in …
Ellis Ross / Times Colonist A commentary by the MLA for Skeena, a former chief councillor of the Haisla Nation. See Original Article in Times Colonist HERE Most Canadians are becoming painfully aware that there is a distinct movement underway to undermine our resource economy and with it, undo the achievements of Aboriginal community leaders … Read more
IBM held its annual ReInvention event in Calgary and asked me to provide the opening remarks, as scene-setting for the panel discussion that followed. In case you weren’t able to attend, here’s what I said. A Call for Help A few years ago, I received an urgent email note from a complete stranger. Mike was … Read more
TORONTO — Prime Minister Justin Trudeau is calling on industries, citizens, and Indigenous groups to help shape the future of Canada’s climate policy.
Speaking at a major mining conference in Toronto, Trudeau says the government will soon launch a for…
MONTREAL — Rail blockades in Quebec remained in place on Monday in spite of a draft deal reached Sunday in British Columbia between Wet’suwet’en hereditary chiefs and senior government ministers.
Kenneth Deer, the secretary of the Mohawk Nation at Kah…
CALGARY — An Alberta energy services company says its management accepts full responsibility for a decal the business distributed bearing its logo beneath a sexually suggestive cartoon appearing to depict 17-year-old Swedish climate activist Greta Thu…
March 2, 20207:08 AM Reuters Canada’s MEG Energy Corp has asked Alberta Energy Regulator (AER) for a three-year delay to the approval process of a proposed oil sands project in the province, because of what it called continuing difficulties, the Globe and Mail reported. MEG cited Alberta’s economic malaise and a lack of investors in the … Read more
By Richard Clough and Rachel Layne Mar 2, 2020 (Bloomberg) Jack Welch, the champion of corporate efficiency who built General Electric Co. into one of the world’s largest companies and influenced generations of business leaders, has died. He was 84.His death was reported Monday by CNBC, which cited his wife, Suzy. The former GE chairman and … Read more
By Lorcan Roche Kelly Mar 2, 2020 (Bloomberg) Policy makers push back, market rebound fizzles out, and virus continues to spread. Here are some of the things people in markets are talking about today. Promises and action A rare statement from Federal Reserve Chair Jerome Powell promised action should it prove necessary, and heralded a round of responses from central banks on … Read more
By Natasha Doff and Dina Khrennikova (Bloomberg) Russia is ready to cooperate with its OPEC+ partners to support the world oil market, even though it’s comfortable with current crude prices, President Vladimir Putin said.The OPEC+ mechanism “has already established itself as an effective tool in ensuring long-term stability in global energy markets,” Putin told a meeting … Read more
By Simon Casey Mar 1, 2020 (Bloomberg) One of the world’s largest and most important energy industry gatherings was cancelled by organizer IHS Markit Ltd. on Sunday amid mounting concerns about the coronavirus outbreak. It was due to start March 9.CERAWeek has been an annual industry fixture over more than three decades and has become an … Read more
By Sharon Cho and Alex Longley Mar 2, 2020 (Bloomberg) Oil rebounded from its worst week since 2008 as the world’s central banks sought to stabilize financial markets, while hopes grew that OPEC+ will deepen output cuts following the coronavirus outbreak.Futures rose as much as 4.4% in New York, after sinking 16% last week. Russia, which … Read more
Steve Scherer OTTAWA (Reuters) – Canadian Prime Minister Justin Trudeau, in his first major climate change speech this year, will reach out on Monday to businesses, indigenous groups and citizens for help in defining his ambitious plan to cut carbon emissions, a senior government official said. During his campaign for re-election last year, Trudeau pledged … Read more
Anderson Greenwood Instrumentation Products compact one-piece valves are designed to overcome the problems of traditional assemblies on primary isolation duties. By combining piping and instrument valves in a single assembly, they provide weight and space savings, along with other benefits including reduced leakage and a safer hook-up. This more compact and efficient arrangement reduces pipework … Read more
Thread and Weld Fitting Key Features: Wrench flat body design allowing standard Hex. wrench assembly Attractive finishes to suit precision equipment Much less-weight design compared to Class 3000 pipe fittings Fine pipe thread construction equals or exceeds the requirement of ASME B1.20.1 to ensure maximum thread engagement Male pipe threads capped for protection from damages … Read more
Contact CFR Chemicals 24 Hour Emergency: 1 (877) 269-3419 Website: www.cfrchemicals.com Email: sales@cfrchemicals.com Health & Safety CFR is proud to have obtained an Alberta Certificate of Recognition (COR). This represents a significant achievement in our health and safety practices. We strive for continuous improvement, and to be a valued resource on best-practices within our industry. We welcome … Read more
SMITHERS, B.C. — Work is expected to resume today on a natural gas pipeline in British Columbia that has been at the centre of protests that have disrupted both rail and road traffic in many parts of the country.
It follows a proposed arrangement that…
CALGARY — There are dozens of approved oilsands projects that could be built in the wake of the shelving of the Frontier oilsands mine this week but analysts say they won’t be built until more export pipeline capacity comes online.
The application wit…
SMITHERS, B.C. — A Wet’suwet’en hereditary chief and senior government ministers say they have reached a proposed arrangement in a pipeline dispute that has prompted solidarity protests across Canada in recent weeks.
Federal Crown-Indigenous Relations…
TORONTO — More than 100 people protested outside a mining convention Sunday in downtown Toronto, where they blocked traffic on multiple roads and stood in front of entrances to the event.
Organizers said they were demonstrating against the harmful eff…
SMITHERS, B.C. — Bonnie George walked out of the Office of the Wet’suwet’en holding her hands up in the air in a triumphant gesture.
Just hours earlier, the Wet’suwet’en matriarch and former Coastal GasLink employee had complained about being locked o…
ST. JOHN’S, N.L. — As demonstrations continue across Canada in support of Wet’suwet’en hereditary chiefs opposing a pipeline through their territory, legal experts suggest it’s time to reconsider how injunctions are employed when responding to Indigen…
CDN NEWS | 
US NEWS 
COMMENTARY: Canadians Should Decide What to do With Their Money – Not Politicians and Bureaucrats