4 - 2020 - Canadian Energy News, Top Headlines, Commentaries, Features & Events

PSAC Forecast Update: Lowest Activity Levels In Decades

April 30, 2020April 30, 2020 by EnergyNow Media

PSAC Forecast Update: Lowest Activity Levels In Decades FOR IMMEDIATE RELEASE: PSAC Forecast Update: Lowest Activity Levels In Decades CALGARY, AB, April 30, 2020 – In its second update to the 2020 Canadian Oilfield Services Activity Forecast, released today, the Petroleum Services Association of Canada (PSAC) has revised the number of wells drilled (rig released) across Canada for … Read more

2024 National Coalition of Chiefs Energy And Natural Resource Summit

Point Loma Resources announces the execution of a letter of intent to farmout exploratory lands where up to three horizontal wells may be drilled

April 30, 2020 by EnergyNow Media

April 30, 2020 Accesswire CALGARY, AB – Point Loma Resources Ltd. (TSXV:PLX) (“Point Loma” or the “Corporation“), which controls a land base of over 161,000 net acres (250 net sections) and a deep inventory of oil and gas opportunities, is pleased to announce the execution of a binding letter of intent (the “LOI”) outlining a farmout agreement … Read more

AltaGas announces strong first quarter results

April 30, 2020 by EnergyNow Media

April 30, 2020 CNW AltaGas’ integrated Utility and Midstream strategy continues to provide stable and reliable results. Our teams on the frontlines are delivering safe and reliable energy to our customers and communities. CALGARY, April 30, 2020 /CNW/ – AltaGas Ltd. (AltaGas or the Company) (TSX: ALA) today reported first quarter 2020 financial results and provided an update on its … Read more

Bonterra Energy Corp. announces extension of bank line redetermination date, corporate update and confirms new board nominees

April 30, 2020 by EnergyNow Media

April 30, 2020 CNW CALGARY – Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) (“Bonterra” or the “Company”) today confirms its syndicate of lenders has extended the annual borrowing base redetermination date on its credit facility, and announces two new Director nominees to stand for election at the Company’s upcoming 2020 Annual General & Special Meeting (“AGSM”) of shareholders. … Read more

Whitecap Resources Inc. announces first quarter 2020 results and total 2020 reductions of $300 Million

April 30, 2020 by EnergyNow Media

April 30, 2020 CNW CALGARY – Whitecap Resources Inc. (“Whitecap” or the “Company”) (TSX: WCP) is pleased to report its operating and unaudited consolidated financial results for the three months ended March 31, 2020. Selected financial and operating information is outlined below and should be read with Whitecap’s unaudited interim consolidated financial statements and related Management’s Discussion … Read more

Bell: Trudeau Still a No-Show on Alberta’s Oilpatch Deal

April 30, 2020April 30, 2020 by EnergyNow Media

Rick Bell More from Rick Bell April 30, 2020 What Premier Jason Kenney has to say is not good. Predictable but not good. “Regrettably, there has been no further action,” he says, in answer to a newshound’s question and the newshound is not your scribbler. Every day the prime minister goes to his podium in … Read more

Oil and gas drilling forecast revised to 49 year low as producers cut spending

April 30, 2020April 30, 2020 by The Canadian Press

CALGARY — The Petroleum Services Association of Canada has revised its 2020 Canadian drilling forecast to an almost 50-year record low of 3,100 oil and gas wells, a level not seen since 2,900 wells were drilled in 1972.
PSAC interim CEO Elizabeth Aqui…

Budget officer says federal deficit could top $252 billion

April 30, 2020April 30, 2020 by The Canadian Press

OTTAWA — The federal deficit for the year could top $252.1 billion as a result of the COVID-19 pandemic, Parliament’s budget watchdog predicted in a report that warned the figure could go even higher if emergency measures remain in place longer than p…

Whitecap Resources posts $2.1-billion loss, warns of ‘involuntary’ crude cuts

April 30, 2020April 30, 2020 by The Canadian Press

CALGARY — Oil producer Whitecap Resources Inc. says it is planning for “involuntary shut-ins” of production as North American crude storage levels threaten to exceed capacity and commodity prices remain at low levels.
The Calgary-based company announc…

Five Things to Know in World Business Today

April 30, 2020 by EnergyNow Media

By Lorcan Roche Kelly Apr 30, 2020 (Bloomberg) Jobless claims likely to add to litany of dire economic news, Apple among the companies reporting, and it’s ECB decision day. Here are some of the things people in markets are talking about today. Millions more Weekly jobless claims published at 8:30 a.m. Eastern Time are expected to drop to … Read more

Oil Jumps on Output Cuts and Early Signs of Demand Recovery

April 30, 2020 by EnergyNow Media

By Alex Longley Apr 30, 2020 (Bloomberg) Oil jumped for a second day as global production cuts deepened and signs of a recovery in physical markets emerge.Futures in New York rose by more than $2. Norway said it will participate in oil-output cuts for the first time since 2002, joining other major producers in reining in … Read more

Norway Joins Oil Production Cuts for First Time Since 2002

April 30, 2020 by EnergyNow Media

By Mikael Holter Apr 30, 2020 (Bloomberg) Norway, western Europe’s biggest oil producer, joined international efforts to curb supply for the first time in almost two decades after prices plumbed new depths.The Nordic country will cut production by 250,000 barrels a day in June and 134,000 barrels in the second half of the year, the Petroleum … Read more

Trudeau Government Takes on Lending Risk to Help with Credit for Oil Companies

April 30, 2020 by EnergyNow Media

By Esteban Duarte Apr 29, 2020 (Bloomberg)The Canadian government is taking on bigger lending risks to help an oil industry saddled with the lowest crude prices on record. Prime Minister Justin Trudeau’s government is relying on two financing agencies for the measures. The Business Development Bank of Canada will provide mezzanine financing — a form … Read more

U.S. Midwest Refinery Surge Extends Lifeline to Canadian Crude

April 30, 2020 by EnergyNow Media

By Robert Tuttle Apr 30, 2020 Refiners in the America’s heartland are starting to ramp up, which will be welcome news to struggling Canadian oil producers. Heavy Western Canadian Select crude’s discount to U.S. benchmark futures shrank to $8 a barrel Wednesday, the narrowest in more than a year, NE2 Group pricing data show. Refineries in the … Read more

Precision Drilling Corporation Announces 2020 First Quarter Unaudited Financial Results

April 30, 2020 by EnergyNow Media

April 30, 2020 | Source: Precision Drilling Corporation CALGARY, Alberta, April 30, 2020 (GLOBE NEWSWIRE) — This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and … Read more

Saturn Oil & Gas Inc. announces reliance on temporary regulatory filing relief

April 30, 2020 by EnergyNow Media

April 29, 2020 Globe Newswire CALGARY, Alberta – Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX.V: SOIL) (FSE: SMK) today provides the following update on the status of filing its audited annual financial statements, the accompanying management’s discussion and analysis (“MD&A”) and its related CEO and CFO certifications, for the fiscal year ended December … Read more

Precision Drilling reports $5.3M Q1 loss, warns of drop in demand well into 2021

April 30, 2020April 30, 2020 by The Canadian Press

CALGARY — Precision Drilling Corp. reported a loss in its first quarter and warned that it expected a significant and sustained drop in customer demand for oil and gas services well into next year as a result of the recent plunge in oil prices.
The dr…

Global oil price slump hitting Alberta to continue a year post pandemic: Kenney

April 30, 2020April 30, 2020 by The Canadian Press

EDMONTON — Premier Jason Kenney says a global oil glut means Alberta’s main industry will be dealing with low prices for a year or longer after the COVID-19 pandemic abates.
Kenney says reduced demand for oil and gas during the pandemic coupled with a…

TC Energy completes the sale of Ontario natural gas-fired power plants for proceeds of $2.8 billion

April 30, 2020April 30, 2020 by EnergyNow Media

April 29, 2020 Globe Newswire CALGARY, Alberta- News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) today announced that it has completed the sale of its interests in three Ontario natural gas-fired power plants to a subsidiary of Ontario Power Generation Inc. for net proceeds of approximately $2.8 billion prior to post-closing adjustments. … Read more

Schachter’s Eye on Energy: Recent Energy Stock Market Strength To Reverse Shortly

April 30, 2020April 30, 2020 by EnergyNow Media

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 29 energy and energy service companies with regular updates. He holds quarterly subscriber webinars (next one Thursday May 28th) and … Read more

WEBINAR: Government Income Support and Wage Subsidy Programs for business and individuals – Petroleum Accountants Society of Canada, April 30, 2020

April 30, 2020April 30, 2020 by EnergyNow Media

Everything you need to know about the COVID-19 Govt Income support and wage subsidy programs for business and individuals. When April 30, 2020 12:00 PM to 1:00 PM Details Kim G C Moody, FCPA, FCA, TEP, CEO of Moodys Tax Kim will provide an overview of the various Canadian government responses and provide tips and … Read more

PART 2: You’re Living the ‘Green New Deal’! How Do You Like it So Far? – Deidra Garyk

April 30, 2020April 30, 2020 by EnergyNow Media

Read PART 1: You’re Living the ‘Green New Deal’. How Are You Enjoying it So Far? – Deidra Garyk Part 2 – Deidra Garyk A “Just Transition” The manifesto doesn’t want to leave anyone behind who is dependent upon the fossil fuel sector for their livelihoods. What the proponents don’t seem to realize is that … Read more

Yangarra announces 2020 first quarter financial and operating results

April 29, 2020 by EnergyNow Media

April 29, 2020 CNW CALGARY – Yangarra Resources Ltd. (“Yangarra” or the “Company“) (TSX:YGR) announces its financial and operating results for the three months ended March 31, 2020. Annual General and Special Meeting of Shareholders The Company’s Annual General and Special Meeting of Shareholders is scheduled for 10:00 AM on Thursday April 30, 2020. As a precaution due to the COVID-19 pandemic, … Read more

Five Things to Know in World Business Today

April 29, 2020 by EnergyNow Media

By Lorcan Roche Kelly Apr 29, 2020 (Bloomberg) Fed decision, another big day for earnings, and U.S. coronavirus cases hit 1 million. Here are some of the things people in markets are talking about today. What else? With interest rates already close to zero, and a raft of new measures announced since the last scheduled FOMC meeting, there are low expectations for major … Read more

Oil Bounces Back With Output Cuts Looming, Storage Filling

April 29, 2020 by EnergyNow Media

By Alex Longley Apr 29, 2020 (Bloomberg) Oil clawed back its recent heavy losses as output cuts from major producers seek to stymie an unprecedented global glut.Futures rose by more than $2 in New York to over $14 a barrel. Russian oil companies will cut output by about 19% from February levels, the nation’s Energy Minister, … Read more

Fort McMurray Now Deals With Flood on Top of Oil Price Crash, COVID-19

April 29, 2020 by EnergyNow Media

By Robert Tuttle Apr 29, 2020 (Bloomberg) Four years after devastating wildfires burned down sections of Fort McMurray, the city in the heart of Canada’s oil sands is now grappling with two new emergencies at the same time: the coronavirus pandemic and flooding. Just as people were sheltering at home to avoid the virus, a 25-kilometer … Read more

Cenovus reports first-quarter 2020 results

April 29, 2020 by EnergyNow Media

April 29, 2020 | Source: Cenovus Energy Inc CALGARY, Alberta, April 29, 2020 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) continued to deliver safe and reliable operations in the first quarter of 2020 while demonstrating its ability to take swift and decisive steps to enhance its financial resilience and protect its balance sheet in … Read more

Husky Energy Reports First Quarter 2020 Results

April 29, 2020 by EnergyNow Media

April 29, 2020 | Source: Husky Energy Inc. This news release contains references to the non-GAAP financial measures “funds from operations”, “free cash flow”, “net debt”, “operating margin” and “net debt to trailing funds from operations.” Please refer to “Non-GAAP Measures” at the end of this news release. CALGARY, Alberta, April 29, 2020 (GLOBE NEWSWIRE) — … Read more

Athabasca Oil Corporation announces $70 million upsized contingent bitumen royalty along with additional resiliency actions

April 29, 2020 by EnergyNow Media

April 28, 2020 Globe Newswire CALGARY, Alberta – Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is taking further actions in response to the decline in global oil prices to bolster balance sheet strength and corporate resiliency. Upsized Contingent Bitumen Royalty Athabasca is pleased to announce an upsizing of the previously completed Contingent Bitumen Royalty … Read more

Highwood Oil Company Ltd. Announces 2019 fourth quarter and year-end financial and operating results and 2019 year-end reserves along with an update on the red earth divestiture

April 29, 2020 by EnergyNow Media

April 28, 2020 CNW CALGARY – Highwood Oil Company Ltd., (“HOCL” or the “Corporation“) (TSXV: HOCL) is pleased to announce financial and operating results for the three months and twelve months ended December 31, 2019 and to provide the results of its independent oil and gas reserves evaluation as of December 31, 2019, prepared by GLJ Petroleum Consultants Ltd. (“GLJ“). … Read more

Cenovus Energy reports $1.8B first-quarter loss as oil prices plunged

April 29, 2020 by The Canadian Press

CALGARY — Cenovus Energy Inc. reported a $1.8-billion loss in its first quarter as oil prices fell due to a drop in demand as a result of the COVID-19 pandemic and a oil price war between Saudi Arabia and Russia.
The oilsands producer says the loss am…

Husky Energy reports $1.7-billion first-quarter loss, cuts dividend

April 29, 2020April 29, 2020 by The Canadian Press

CALGARY — Husky Energy Inc. slashed its dividend as it reported a $1.7-billion loss in its first quarter due to impairment charges related to the plunge in crude oil prices as a result of the pandemic.
The company says it will now pay a quarterly divi…

Vermilion Energy posts $1.3-billion loss on oil and gas assets writedown

April 29, 2020April 29, 2020 by The Canadian Press

CALGARY — A $1.2-billion writedown in the value of its oil and gas assets around the world due to low global commodity prices resulted in a first-quarter net loss of $1.3 billion or $8.42 per share for Vermilion Energy Inc., the energy producer announ…

XI Technologies: How producers can capitalize on Alberta’s Site Rehabilitation Program

April 29, 2020 by EnergyNow Media

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. The various efforts of both the provincial and federal government to assist the … Read more

Building a virtual workforce – KPMG

April 29, 2020 by EnergyNow Media

Author: Jeff Thomas, Partner, Advisory Services KPMG in Canada The COVID-19 pandemic has resulted in physical social distancing requirements, forcing organizations to redefine how they conduct business. Almost overnight, organizations that had been “office centric” became widely dispersed and decentralized. For them, in addition to keeping people safe and supported, their business sustainability has been … Read more

Mathey Dearman is your one stop shop for all pipe beveling and alignment needs. We support the export of Canadian oil!

April 29, 2020 by EnergyNow Media

Mathey Dearman’s Ratchet Cage Clamp The ratchet closure system of Mathey Dearman’s Ratchet Cage Clamp provides the extra force needed to align large pipe diameters. The Ratchet Cage Clamp is available for 14” to 60” (356 mm to 1524 mm) pipe. FEATURES: QUICK | Aligns pipes easily and fast EFFICIENT | Good choice when aligning … Read more

Measurement & Meter Proving: Get Unparalleled Quality and Accuracy – CDN Controls

April 29, 2020 by EnergyNow Media

Our measurement team is highly trained in all types of liquid and gas metering and measurement. As in everything we do, we deliver accuracy and unparalleled quality in both the work we complete and the level of service we provide. You can count on CDN Controls to deliver peace of mind by eliminating doubt … Read more

Cevian Technologies are excited to announce the launch of our newest feature update, FracNet™ 1.9

April 29, 2020April 29, 2020 by EnergyNow Media

We are excited to announce the launch of our newest feature update, FracNet™ 1.9: https://bit.ly/2xWagUS FracNet users can expect to see three key feature updates: smart alarms on digital display cards, pumping threshold NPT reporting, and a brand new support page. As always, our mission is to provide our clients with the best possible data experience. … Read more

PART 1: You’re Living the ‘Green New Deal’. How Are You Enjoying it So Far? – Deidra Garyk

April 29, 2020April 29, 2020 by EnergyNow Media

Part 1 – Deidra Garyk Part 2 – Coming Thursday, April 30th! If you are enjoying forced isolation, you’ll love the Green New Deal. If you aren’t, well, perhaps you need to read the manifesto a little closer to understand what is being proposed by the climate alarmism movement and the associated politicians like Democratic … Read more

Calfrac Well Services cuts deepen to 70% in Canada, U.S. due to low oil prices

April 28, 2020April 28, 2020 by The Canadian Press

$Calfrac Logo Feature$

CALGARY — Calfrac Well Services Ltd. says it has now cut 70 per cent of its North American staff as demand for its hydraulic fracturing and other well completion services continues to fall in view of low oil prices.
In late March, the Calgary-based co…

Five Things to Know in World Business Today

April 28, 2020 by EnergyNow Media

By Lorcan Roche Kelly Apr 28, 2020 (Bloomberg) Oil plunges again, another big day for corporate earnings, and we may be stuck with the virus for a long time. Here are some of the things people in markets are talking about today. Dropping West Texas Intermediate for June delivery traded close to $10 a barrel this morning, extending losses as exchange-traded … Read more

Oil Bounces Higher After Sudden Index Shift Spurred Fire Sale

April 28, 2020 by EnergyNow Media

By Alex Longley and Olivia Raimonde (Bloomberg) Oil erased losses after earlier plunging close to $10 a barrel after a major index tracked by billions of dollars in funds bailed out of near-term contracts.The abrupt decision by S&P Global Inc. to tell clients to sell their June West Texas Intermediate holdings unleashed another day of chaos in the … Read more

Investors Brace for Less Oil Sands Output to Accompany Results

April 28, 2020 by EnergyNow Media

By Michael Bellusci and Kevin Orland Apr 28, 2020 (Bloomberg) Canada’s big oil producers are set to give investors more evidence of how they’re battling plunging crude prices, the result of plummeting demand in the face of the coronavirus. Western Canada Select crude oil collapsed 90% from February’s high to last week’s low.Calgary-based Cenovus Energy Inc. … Read more

Journey Energy Inc. provides corporate update

April 28, 2020 by EnergyNow Media

April 27, 2020 CNW CALGARY – Journey Energy Inc. (JOY – TSX; JRNGF – OTCQX) (“Journey” or the “Company“) announces an update to its operations and credit facility. The world oil price took a sharp turn downward in mid-March with the onset of the COVID 19 pandemic and systematic shutdowns of global economies. WTI oil prices have recently … Read more

Canada’s economy in deepest recession on record, U-shaped recovery likely

April 28, 2020 by EnergyNow Media

April 28, 2020 Reuters The Canadian economy is likely in its deepest recession on record and will only recover modestly over the coming year as it takes a direct hit from the coronavirus outbreak and a collapse in oil prices, a Reuters poll of economists showed. After the economy contracted sharply last month and lost a … Read more

Fort McMurray, Canadian oil sands hub, floods amid virus fight

April 28, 2020 by EnergyNow Media

April 27, 2020 Reuters Floods have forced mandatory evacuations in parts of Fort McMurray, the hub for Canada’s oil sands industry, even as the province of Alberta tries to stem the spread of the coronavirus. The Regional Municipality of Wood Buffalo, which includes Fort McMurray, ordered mandatory evacuations of some residents that began on Sunday and … Read more

WATCH: Oil in a Tesla

April 28, 2020April 28, 2020 by EnergyNow Media

Secondstreet.org explores the impact of oil on a Tesla electric vehicle. Some people want governments to keep oil in the ground. Can you guess how that would that affect an electric car like a Tesla?

Petrofrontier Corp. announces temporary extension for filing of 2019 year-end financial information

April 28, 2020April 28, 2020 by EnergyNow Media

April 27, 2020Accesswire CALGARY, AB – PetroFrontier Corp. (“PetroFrontier” or the “Corporation”) (TSXV:PFC) announces the following regarding the timing for the filing of the 2019 Annual Financial Statements Annual Management Discussion & Analysis and its Statement of Reserves Data and Other Oil and Gas Information, Report on Reserves ‎Data by Independent Qualified Reserves Evaluator, and Report of … Read more

Bonavista Energy Corporation Provides Financial Update

April 28, 2020 by EnergyNow Media

April 27, 20205 Newsfile Calgary, Alberta – Bonavista Energy Corporation (TSX: BNP) (“Bonavista” or the “Company“) announces that the Company, its banking syndicate (the “Lenders“), and the holders (the “Noteholders“) of the Company’s senior unsecured notes have been actively negotiating the reorganization of the Company’s debt maturities and related interim arrangements. In connection with such matters, … Read more

Common Sense Overcomes Party Politics to Protect Companies and Workers from Oil Price Collapse – David Yager

April 28, 2020April 28, 2020 by EnergyNow Media

By David Yager April 27, 2020 If there was ever a time when politicians might be persuaded to set aside party politics and do the right thing, surely it is now. As Canada’s largest and most essential resource industry struggles to survive the virus/pandemic oil price collapse, modern polarized politics remains a constant challenge. Nothing … Read more

Techmation Electric & Controls Ltd Announces New Branch Manager in Whitecourt

April 28, 2020 by EnergyNow Media

You may be seeing a new name & face around Techmation. It is with great pleasure that we introduce to you our Branch Manager, Matt Harris. Matt is a Journeyman Instrumentation Technician who has been with Techmation for over nine years. Matt and his family recently moved to Whitecourt and are looking forward to becoming … Read more

CAODC applauds Alberta Government’s approach to allocating federal well reclamation funds

April 28, 2020April 28, 2020 by EnergyNow Media

April 27, 2020 The Canadian Association of Oilwell Drilling Contractors is pleased with both the speed and direction of the Alberta Government’s portion of federal funding for well reclamation. In a press release on Friday, April 24, the Minister of Energy announced service rig contractors are eligible to apply for and receive grants directly, and … Read more

Return Energy Inc. (to be renamed Spartan Delta Corp.) upsizes previously announced private placement to $64.0 million

April 27, 2020 by EnergyNow Media

April 27, 2020 Globe CALGARY, Alberta – Return Energy Inc. d.b.a. Spartan Delta Corp. (“Spartan” or the “Company“) (RTN: TSXV) is pleased to announce that, as a result of excess confirmed and committed institutional demand, it has increased its previously announced financing of subscription receipts (“Subscription Receipts“) detailed in its press release dated April 23, 2020, to 3,200,000,000 … Read more

The Time of the Digital Ecosystem is Nigh – Geoffrey Cann

April 27, 2020 by EnergyNow Media

By Geoffrey Cann Successful industries have successful ecosystems. Now is the time for the digital ecosystem to help reshape and reform oil and gas, and capitalize on the opportunity. This post are my remarks for a webinar on the topic of the digital ecosystem. My First Digital Project My first true digital project was for … Read more

New CEC Fact Sheet on Oil and Gas Industry Subsidies – Canadian Energy Centre

April 27, 2020April 27, 2020 by EnergyNow Media

This morning the Canadian Energy Centre (CEC) released the latest in its research and data series – an analysis of government subsidies to Canada’s oil and gas sector. The Fact Sheet (see attached PDF) used the most recent data available from Statistics Canada on operating subsidies to various Canadian industries including oil and natural gas … Read more

Absolute Public Online Industrial Equipment and Miscellaneous Auction – Century Auctions

April 27, 2020 by EnergyNow Media

Foothills, Alberta Ring 1 Featuring: Flat-Deck, Service and Pickup Trucks, Fire Truck, Van Trailers, Seacans, Trench Packer, Triaxle Container Chassis, Skid Steers, Cars, Equipment Attachments, Shop Equipment and Much More! Ring 2 Featuring: Building Supplies, Shop Tools, Generators, Compressors, Welders and Welding Equipment, Material Handling Equipment and Much More! Bidding Starts Closing: Tuesday, April 28th, 2020 at 10 am … Read more

Five Things to Know in World Business Today

April 27, 2020 by EnergyNow Media

By Lorcan Roche Kelly Apr 27, 2020 (Bloomberg) Reopening plans gather pace, a busy week for central banks, and a surprise from Deutsche Bank. Here are some of the things people in markets are talking about today. Corner turned? New York Governor Andrew Cuomo said a phased reopening beginning with construction and manufacturing could start as soon as May … Read more

Oil Slumps Back Below $13 on Glut While Producers Start Cuts

April 27, 2020 by EnergyNow Media

By Sharon Cho and Alex Longley Apr 27, 2020 (Bloomberg) Oil slumped below $13 a barrel again as swelling global crude stockpiles made it more difficult for leading producers to balance the market by curbing output.Futures in New York slid as much as 24%, snapping a four-day gain. While U.S. drilling is sliding and Saudi Arabia has started reducing output … Read more

Bellatrix Announces Filing of Year End 2019 Financial and Operating Results and Timing of Release of Annual Reserves Disclosure

April 27, 2020 by EnergyNow Media

April 24, 2020 | Source: Bellatrix Exploration Ltd. CALGARY, Alberta , April 24, 2020 (GLOBE NEWSWIRE) — Bellatrix Exploration Ltd. (“Bellatrix” or the “Company“) announces that it has filed its annual audited financial statements and related management’s discussion and analysis for the year ended December 31, 2019 with the Canadian securities regulatory authorities on SEDAR. In … Read more

Delphi Energy Corp. Granted Extension of Stay Period to May 8, 2020 and Provides Update on Continuous Disclosure Filings

April 27, 2020 by EnergyNow Media

April 24, 2020| Source: Delphi Energy Corporation CALGARY, Alberta, April 24, 2020 (GLOBE NEWSWIRE) — Delphi Energy Corp. (“Delphi” or the “Company”) announces that Delphi has obtained an order from the Court of Queen’s Bench of Alberta (the “Court”) today in support of its restructuring efforts under the Companies’ Creditors Arrangement Act (the “CCAA”). This order amended and restated the … Read more

Arrow Exploration Provides Corporate Update

April 27, 2020 by EnergyNow Media

April 27, 2020 | Source: Arrow Exploration Corp. CALGARY, Alberta, April 27, 2020 (GLOBE NEWSWIRE) — ARROW Exploration Corp. (“Arrow” or the “Company”) (TSXV:AXL) is pleased to provide the following corporate update. Appointment of Joe McFarlane as CFO Joe McFarlane has been appointed to the position of Chief Financial Officer of the Company, effective April 24th, … Read more

WATCH: Michael Moore’s Much Needed Documentary “Planet of the Humans” Looks at the Ugly Truths About Renewable Energy & Those Selling Out to It

April 28, 2020April 27, 2020 by EnergyNow Media

Watch the Full Movie Here: Michael Moore released his latest documentary film Tuesday on YouTube. Titled “Planet of the Humans” and directed by Jeff Gibbs, the film asks if it is already too late to stop climate change from occurring on Earth: Michael Moore presents Planet of the Humans, a documentary that dares to say … Read more

Greenstart Idle Reduction Technology: Making Your Environmental Impact and Profitability Greener – Propell

April 27, 2020 by EnergyNow Media

Propell’s GreenStart system allows for reduced idle time by intelligently shutting off the engine when not in use. A self-contained starter system provides the onboard energy to restart the engine at any time, while an on-board monitoring software intelligently determines when to restart, providing up to 35% reduction in total fuel costs. Minimized Engine Idle … Read more

WEBINAR SERIES: Shutdown and Turndown Considerations for Hydroprocessing Units & Turnaround Deferrals – April 28th & April 30th

April 27, 2020April 27, 2020 by EnergyNow Media

Current market conditions are forcing many refiners into an unfamiliar operating state. A different approach may be required to rebalance and reduce refinery intake and maximize products that are still in demand. Unit and equipment specific impacts of this approach will depend on the severity of the rate reduction as well as the duration. Aligning … Read more

A unique fluid dynamic inline viscometer suitable for harsh process conditions

April 27, 2020 by EnergyNow Media

Process viscometers have important applications in real-time quality and process control in a wide range of industrial processes. Established commercial instruments like rotational, vibrating, and capillary viscometers may suffer from poor lifetime or insufficient performance in harsh applications. Typical problems are friction-loaded torque measurements, undefined shear rate, density dependence, poor sample replacement, small penetration depth, … Read more

Canada Weekly Rig Count Down 4 for Week Ending April 24, 2020

April 27, 2020 by EnergyNow Media

Canada’s drilling rig count is down 4 actively drilling rigs according to data collected by Baker Hughes for the week ending April 24, 2020. From one week ago, Alberta rig counts decreased 1 to 16 and the Saskatchewan rig counts stayed at 2. Oil drilling increased 1 to 8 and gas decreased 5 to 18. … Read more

Trans Mountain, LNG Canada say they are on track despite pandemic

April 27, 2020 by The Canadian Press

VANCOUER, B.C. — Energy projects like an LNG Canada export terminal and the Trans Mountain pipeline expansion may face short-term setbacks but the pandemic and oil price crash shouldn’t threaten their long-term viability, economists say.
Andrew Leach,…

U.S. drillers cut most oil rigs in a month since 2015 -Baker Hughes

April 27, 2020April 27, 2020 by EnergyNow Media

Scott DiSavino April 24 (Reuters) – U.S. energy firms cut the most oil rigs in a month in April since 2015 with oil prices down over 70% since the start of the year as steps to curb the coronavirus pandemic cut global crude demand faster than producers can shut wells, causing storage tanks to fill … Read more

CHARTS: A timely reminder of what natural resources do for Canada – Resource Works

April 27, 2020 by EnergyNow Media

With humanity demanding products like masks, hand sanitizer, toilet paper, reliable 24/7 fuels and medical products based on plastic and metal, there’s no getting away from it: the world needs Canada’s resources. And herein lies the solution for troubled times. Myths of natural resources A commonly heard myth is that you can’t have a resource-based … Read more

World’s largest CO2 pipeline still on track – CEC

April 27, 2020 by EnergyNow Media

by Grady Semmens Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The world’s largest pipeline project to capture and permanently store carbon dioxide emissions from human activity is on track to begin operating this summer. Final commissioning is underway on the Alberta Carbon Trunk Line, a 240-kilometre pipeline that … Read more

WEBINAR: How Energy Companies Manage Remote Assets and Sites During Disruption, Volatility and Physical Distancing

April 26, 2020April 26, 2020 by EnergyNow Media

In this educational webinar we will show how five (5) North American Oil and Gas companies are utilizing remote monitoring and inspections to lower total cost of ownership providing a high return on investment, resulting in becoming more effective, protecting staff and increasing productivity while saving money and resources. Click here for more information and … Read more

Energy, Travel Firms Need More Help, National Bank CEO Says

April 26, 2020April 26, 2020 by EnergyNow Media

By Doug Alexander Apr 24, 2020 Canada’s energy industry needs exceptional measures to deal with damage from the pandemic and “economic warfare” that caused oil prices to plummet, said National Bank of Canada’s long-time chief executive officer, Louis Vachon.Global oil prices began a historic crash in early March when Saudi Arabia and Russia failed to … Read more

Three Hours Longer, the Pandemic Workday Has Obliterated Work-Life Balance

April 26, 2020April 26, 2020 by EnergyNow Media

By Michelle Davis and Jeff Green (Bloomberg) An executive at JPMorgan Chase & Co. gets unapologetic messages from colleagues on nights and weekends, including a notably demanding one on Easter Sunday. A web designer whose bedroom doubles as an office has to set an alarm to remind himself to eat during his non-stop workday. At Intel … Read more

Once in Sync, Loonie’s Historic Link With Oil is Breaking Down

April 25, 2020 by EnergyNow Media

By Susanne Barton Apr 25, 2020 (Bloomberg) –During a historic week where crude oil futures plunged below zero for the first time ever, the Canadian dollar did something strange: it stood firm. Commonly seen as a petrocurrency, the loonie was resilient this week with a mere 0.7% slide against the greenback. That compares with the … Read more

Federal support for oil and gas not enough, says unemployed dad – CEC

April 24, 2020 by EnergyNow Media

Updated by Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Chad Miller, founder of online community Oilfield Dads. Photograph supplied for Canadian Energy Centre Ottawa’s recent announcement of support for the struggling oil and gas industry during the COVID-19 crisis is disappointing for Chad Miller and … Read more

Inter Pipeline announces new measures to enhance financial flexibility

April 24, 2020 by EnergyNow Media

April 24, 2020 CNW CALGARY – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX: IPL) announced today that it has entered into a new $1 billion unsecured revolving credit facility (the “Facility”) with a syndicate of key lenders. The Facility is available for general corporate purposes and provides Inter Pipeline with increased financial flexibility and access to additional financial resources should … Read more

Bellatrix announces filing of year end 2019 financial and operating results and timing of release of annual reserves disclosure

April 24, 2020 by EnergyNow Media

April 24, 2020 Globe Newswire CALGARY, Alberta – Bellatrix Exploration Ltd. (“Bellatrix” or the “Company“) announces that it has filed its annual audited financial statements and related management’s discussion and analysis for the year ended December 31, 2019 with the Canadian securities regulatory authorities on SEDAR. In addition, Bellatrix announces the results of its year end … Read more

Former MP named as Alberta’s new trade representative in Washington, D.C.

April 24, 2020April 24, 2020 by The Canadian Press

EDMONTON — The Alberta government has named a former member of Parliament to be its senior representative in Washington, D.C.
James Rajotte, who represented Edmonton-Southwest from 2000 to 2004 and Edmonton-Leduc from 2004 to 2015, will take over May …

Alberta unveils process for paying out $1 billion in oilfield cleanup grants

April 24, 2020April 24, 2020 by The Canadian Press

CALGARY — Oilfield services companies in Alberta will be able to apply through an online portal starting May 1 for $1 billion in grants under the oilfield rehabilitation program announced by the federal government last week.
Alberta Energy Minister So…

Top court overturns oilsands mine approval over Aboriginal concerns for land

April 24, 2020April 24, 2020 by The Canadian Press

EDMONTON — Alberta’s highest court has overturned regulatory approvals for a $440-million oilsands mine that would have encroached on land a local First Nation considers sacred.
The Court of Appeal says the Alberta Energy Regulator’s refusal to consid…

POILIEVRE: The state reigns supreme as never before in Canada: Look for appeals for more power

April 24, 2020 by EnergyNow Media

Pierre Poilievre Ottawa, ON 24th April 2020 As we slowly move from a health crisis to an economic crisis, expect more appeals for expanded government power. From those to whom much is given, much is asked. Or so we thought. Much has indeed been given to government authorities in two months. Think about this: outside … Read more

WATCH: SUNCOR – Stronger Together – Salutes Essential Workers

April 24, 2020 by EnergyNow Media

THANK YOU to Suncor and all Canadian Energy companies – for all that you do (to support our province, country, economy, and most importantly – the community).

Five Things to Knowin World Business Today

April 24, 2020 by EnergyNow Media

By Lorcan Roche Kelly Apr 24, 2020 (Bloomberg) More bad economic numbers, Mnuchin remains optimistic and fears of second viral wave weigh as restrictions ease. Here are some of the things people in markets are talking about today. Slowdown, stimulus After yesterday’s dismal PMI numbers, there was more data this morning showing the fierce hit to economic activity. In Germany business … Read more

Oil Rises After Dramatic Week That Saw Historic Drop Below Zero

April 24, 2020 by EnergyNow Media

By Saket Sundria and Alex Longley Apr 24, 2020 (Bloomberg) Crude rose at the end of a dramatic week that saw prices in New York plunge below zero for the first time in history.West Texas Intermediate for June delivery increased to near $17 a barrel after the May contract slumped to as low as -$40.32 on … Read more

TC Energy reaches five-year revenue requirement settlement with NGTL System customers

April 24, 2020 by EnergyNow Media

April 24, 2020| Source: TC Energy Corporation CALGARY, Alberta, April 24, 2020 (GLOBE NEWSWIRE) — – News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) announced today that its wholly-owned subsidiary, NOVA Gas Transmission Ltd. (NGTL), has reached a five-year negotiated revenue requirement settlement with its customers and other interested parties that extends from 2020 … Read more

A Bright Spot in Canada Energy: Some Natural Gas Stocks Up 100%

April 24, 2020 by EnergyNow Media

By Michael Bellusci Apr 23, 2020 (Bloomberg)The glut of crude oil has a silver lining for shares of Canada’s natural gas drillers.A number of gas companies including ARC Resources Ltd., Birchcliff Energy Ltd. and Advantage Oil & Gas Ltd. have posted gains of more than 100% in one month. All three stocks are still down … Read more

Think this week’s oil collapse was bad? It could get worse – Rick Peterson

April 25, 2020April 24, 2020 by EnergyNow Media

April 23, 2020 Opinion: Elaborate ESG screens that are the object of lobbying by radical environmental groups are harming the Alberta energy sector By Rick Peterson First Appeared in Financial Post If you think Monday’s oil price collapse was bad, hang on. More bad news could be on its way in the weeks ahead in … Read more

First Time in 100+ Year History – Calgary Stampede, Energy Industry Mainstay, Canceled by Virus

April 24, 2020April 24, 2020 by EnergyNow Media

By Kevin Orland Apr 23, 2020 (Bloomberg) The Calgary Stampede, an annual 10-day festival that has served as a dealmaking venue and socializing tradition for Canada’s oil industry, has been canceled this year to prevent the spread of the coronavirus.The event, scheduled for July 3 to 12, will not be held this year, Calgary Stampede President … Read more

Crunch Time for Canada’s Energy Companies as Credit Talks Begin

April 24, 2020April 24, 2020 by EnergyNow Media

By Kevin Orland, Doug Alexander and Paula Sambo Apr 23, 2020 (Bloomberg) —Canada’s energy industry is facing one of its toughest tests ever as companies scramble for credit against a turbulent backdrop of record-low crude prices.Oil companies have already been renewing borrowing facilities in a bid to stay afloat, but renegotiations will begin in earnest in the … Read more

Kelt Announces Results of Shareholders’ Meeting and Provides Corporate Update

April 23, 2020 by EnergyNow Media

April 23, 2020 Newsfile Calgary, Alberta – Kelt Exploration Ltd. (TSX: KEL) (“Kelt” or the “Company”) is pleased to announce that all matters presented for approval at the Annual Meeting of Shareholders held on April 22, 2020 have been fully authorized and approved. A total of 114,994,030 common shares, representing 61.23% of the common shares issued … Read more

ADM idles large Iowa, Nebraska corn-based ethanol plants

April 24, 2020April 23, 2020 by The Canadian Press

DES MOINES, Iowa — Ethanol producer ADM said Thursday it is idling production at its corn ethanol plants in Cedar Rapids, Iowa, and Columbus, Nebraska, furloughing 90 employees in each facility for at least four months.
The plants, each capable of ann…

Hemisphere Energy Provides Corporate Update and Announces 2019 Fourth Quarter and Year-end Financial and Operating Results

April 23, 2020 by EnergyNow Media

Vancouver, British Columbia–(Newsfile Corp. – April 23, 2020) – Hemisphere Energy Corporation (TSXV: HME) (“Hemisphere” or the “Company”) is pleased to provide a corporate update and announce its financial and operating results for the fourth quarter and year ended December 31, 2019. Corporate Update and Outlook In recent months, COVID-19 has had an unprecedented impact … Read more

What does Canada’s economy need after COVID? – Fraser Institute

April 23, 2020 by EnergyNow Media

April 22, 2020 Authors: Steven Globerman Jake Fuss In the coming months, the federal government will receive numerous suggestions for how to kickstart the economy after the COVID crisis passes. One such suggestion from Jim Stanford, former chief economist for the Canadian Auto Workers union and frequent contributor to the Canadian Centre for Policy Alternatives, … Read more

Understanding inactive and orphan wells in Alberta – CEC

April 23, 2020 by EnergyNow Media

Updated by Deborah Jaremko on April 21, 2020 Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A sign, from Alberta’s Orphan Well Association (OWA), identifies a non-producing and abandoned oil well near Carseland, Alberta on Sunday, July 21, 2019. The Canadian Press Ottawa’s announcement of $1.72 billion in funding support … Read more

Bellatrix sale to Return Energy proposed as exit to creditor protection status

April 23, 2020April 23, 2020 by The Canadian Press

Calgary-based Bellatrix Exploration Ltd. says it has struck a deal to exit Companies’ Creditors Arrangement Act court protection after six months through a sale of its assets to Return Energy Inc.
Return would pay $87.4 million in cash under the agree…

Canada’s AAA on the Line as Oil Crash Hits Debt-Loaded Provinces

April 23, 2020 by EnergyNow Media

By Esteban Duarte Apr 23, 2020 (Bloomberg) Canada’s stellar credit rating is being put to the test as the oil crash and recession expose the country’s weak link: its provinces.Among the Group of Seven countries, only Germany and Canada have AAA ratings from S&P Global Ratings. But as pressure rises on the government of Justin Trudeau … Read more

Obsidian Energy provides corporate and operational update

April 23, 2020 by EnergyNow Media

April 23, 2020 CNW CALGARY – OBSIDIAN ENERGY LTD. (TSX: OBE, OTCQB: OBEL) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) has taken further proactive action to shut-in currently uneconomic production with a focus on preserving its balance sheet and improving financial flexibility. Additionally, the Company releases the date of its first quarter 2020 results. Production … Read more

Return Energy Inc. (to be renamed Spartan Delta Corp.) announces strategic asset acquisition in west-central Alberta, $100 million credit facility and $20 million equity financing

April 23, 2020 by EnergyNow Media

April 23, 2020 Globe Newswire CALGARY, Alberta – Return Energy Inc. d.b.a. Spartan Delta Corp. (“Spartan” or the “Company”) (RTN: TSXV) is pleased to announce that it has entered into an asset purchase agreement (the “APA”) with Bellatrix Exploration Ltd. (“Bellatrix”) to acquire substantially all of Bellatrix’s assets (the “Assets”) for cash consideration of $87.4 million plus the … Read more

Five Things to Know in World Business Today

April 23, 2020 by EnergyNow Media

By Lorcan Roche Kelly Apr 23, 2020 (Bloomberg) —Millions more jobless claims, awful PMI numbers and more fiscal stimulus. Here are some of the things people in markets are talking about today. Jobless The rapid rise in the number of people out of work is expected to show another increase today, with economists forecasting 4.5 million more claims when the … Read more

Oil Extends Recovery From Selloff But Concern Over Glut Lingers

April 23, 2020 by EnergyNow Media

By Elizabeth Low and Alex Longley Apr 23, 2020 (Bloomberg) Oil extended its recovery from Monday’s plunge below zero, but trading remains volatile with the market under intense pressure from a swelling global glut. Futures in New York rose as much as 23% to near $17 a barrel. Already inundated with bearish signals, the market shrugged … Read more

Canadian Heavy Oil Stays Home as U.S. Tanks Fill Up

April 23, 2020 by EnergyNow Media

By Robert Tuttle Apr 23, 2020 (Bloomberg) Canadian oil sands producers no longer have an incentive to send their crude toward the Gulf Coast as a glut grows in the U.S. due to the coronavirus pandemic.Western Canadian Select for May delivery in Alberta was 50 cents more expensive on Tuesday than it was at the U.S. … Read more

Bellatrix Announces Sale Transaction in Connection with its Strategic Process

April 23, 2020 by EnergyNow Media

April 23, 2020 | Source: Bellatrix Exploration Ltd. CALGARY, Alberta, April 23, 2020 (GLOBE NEWSWIRE) — Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) announces a sale transaction (the “Transaction”) pursuant to which Return Energy Inc. (to be renamed Spartan Delta Corp.), through its wholly-owned subsidiary, Winslow Resources Inc. (the “Purchaser”), will acquire substantially all of the assets … Read more

InPlay Oil Corp. Provides Corporate Update

April 23, 2020 by EnergyNow Media

April 23, 2020 08:00 ET | Source: InPlay Oil Corp. CALGARY Alberta, April 23, 2020 (GLOBE NEWSWIRE) — InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) provides an operations and corporate update in response to the COVID-19 pandemic. The COVID–19 pandemic has led to an unprecedented decrease in oil prices as a result of … Read more

Energy sector shutting down some oil production as low crude oil prices persist

April 23, 2020April 23, 2020 by The Canadian Press

Calgary-based energy companies are continuing to reduce production, cut spending and trim costs as volatile oil prices remain stubbornly below profitable levels.
Enerplus Corp. announced Wednesday it will cut its capital budget another $25 million to …

Schachter’s Eye on Energy: Shortage of Storage May Lead To Negative Pricing For June/July WTI Contracts Before Expiry

April 23, 2020April 23, 2020 by EnergyNow Media

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 30 energy and energy service companies with regular updates. He holds quarterly subscriber webinars and provides Action BUY and SELL … Read more

Codeco-Vanoco Engineering – Completes Successful Liner Install for Mining Paste Holes

April 23, 2020April 23, 2020 by EnergyNow Media

Codeco -Vanoco Engineering Inc. (CVEI) is pleased to announce the successful completion of two liner installations on existing paste holes for a mining client in Northern Manitoba, Canada. The original paste hole wellbores were drilled previously by Codeco-Vanoco Engineering Inc. at an inclination of 60° (from surface) to a measured depth of 870m (2855ft). Recently the … Read more

Ships, trains, caves: Oil traders chase storage space in world awash with fuel

April 23, 2020April 23, 2020 by EnergyNow Media

April 22, 2020 Reuters Oil traders are struggling to find enough ships, railcars, caverns and pipelines to store fuel as more conventional storage facilities fill up amid abundant supply and plummeting demand due to the coronavirus crisis.Dozens of oil tanker vessels have been booked in recent days to store at least 30 million barrels of jet … Read more

WATCH NOW: Back to the future with Paradox Access Solutions

April 23, 2020April 23, 2020 by EnergyNow Media

It’s been over 30 years since Back to the Future was released, and—contrary to the movie’s fun depiction of the 21st century—we still need roads. In fact, our economic and social wellbeing rely on roads more than ever before. Check out this AWESOME video to discover how Paradox leverages advancements in road-building technology to deliver … Read more

Reacting to special situations in today’s economy – KPMG

April 23, 2020April 23, 2020 by EnergyNow Media

Author: Aaron Collier, Director, Advisory KPMG in Canada In today’s circumstances, businesses face a number of situations that pose a threat to their operational and financial efficiencies. Special situations can range from unique business challenges such as the loss of a key customer contract or legislative dispute, to global recessions or black swan events that … Read more

Whether OPEC+ formally agrees, deeper oil cuts now look inevitable

April 23, 2020April 23, 2020 by EnergyNow Media

April 22, 2020 Whether or not OPEC+ oil producers formally agree to extra oil output curbs, rapidly filling storage capacity and plummeting demand due to the coronavirus crisis may force them to cut more.With crude consumption collapsing, the Organization of the Petroleum Exporting Countries, Russia and other producers, a group known as OPEC+, is due … Read more

CASE STUDY: How an Airport Uses Magnetic Separation to Improve Aviation Fuel – Black Powder Solutions

April 23, 2020April 23, 2020 by EnergyNow Media

View the full case study or Download the PDF Version This study explains how The Nashville International Airport (BNA) removed black powder contamination particulates from jet fuel delivered by the Colonial Pipeline, resulting in improved product quality and reduced filter consumption. The problem Off-spec jet fuel delivered from the Colonial Pipeline required a variety … Read more

Environmental Group Sierra Club loses legal fight against environmental exemptions for frack dams

April 23, 2020April 23, 2020 by The Canadian Press

VANCOUVER — An environmental group has lost its legal challenge to regulatory exemptions given to a pair of dams in northern British Columbia.
The dams were built by Progress Energy to store water for its natural gas fracking operations.
The Supreme C…

Canada will backstop bank loans for crisis-hit oil companies

April 23, 2020April 23, 2020 by EnergyNow Media

April 22, 2020 Reuters Canada’s export credit agency on Wednesday said it would backstop loans to hard hit oil and gas producers, in the latest move by Ottawa to free up credit for the struggling energy industry.Banks are reviewing borrowing limits in the sector and could head off bankruptcies of small and mid-sized energy firms pummeled … Read more

Trucking firm Mullen Group reports 1,000 layoffs as pandemic slows economy

April 22, 2020 by The Canadian Press

CALGARY — Trucking, logistics and oilfield services firm Mullen Group Ltd. says it has temporarily laid off about 1,000 people because of the impact of measures to control the COVID-19 pandemic.
Chairman and CEO Murray Mullen says the Calgary-based co…

Enerplus Provides Corporate Update

April 23, 2020April 22, 2020 by EnergyNow Media

April 22, 2020 CNW 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

Keyera Reducing its Capital Program and Suspending its Dividend Reinvestment Plan

April 22, 2020 by EnergyNow Media

April 22, 2020 CALGARY – Keyera Corp. (TSX:KEY) (“Keyera”) announced today that it is preserving its financial flexibility by reducing its 2020 capital program following a decision to defer construction of the KAPS pipeline system for approximately one year. Keyera is also suspending its Premium DividendTM and Dividend Reinvestment Plan (“DRIP”). These actions are in response to challenging … Read more

PODCAST: Digital and the EU Green Deal – Geoffrey Cann

April 22, 2020 by EnergyNow Media

The European Union has announced a sweeping Green Deal with far-reaching implications for oil and gas. The EU, its member states, and companies operating in the EU need to rethink their supply chains, and not just for products, but inputs, byproducts and emissions. It is clear that the energy industry is headed towards government mandated … Read more

OIL PRICES: Brent Oil Recovers From 21-Year Low, Huge Price Swings Dominate

April 22, 2020 by EnergyNow Media

By Sharon Cho and Alex Longley Apr 22, 2020 (Bloomberg) Oil recovered from a 21-year low, bucking two days of frenzied selling.Brent for June delivery slumped as much as 17%, before paring losses to trade higher. West Texas Intermediate crude also gained in New York, after an unprecedented plunge into negative territory earlier in the week. President Trump … Read more

Five Things to Know in World Business Today

April 22, 2020 by EnergyNow Media

By Lorcan Roche Kelly Apr 22, 2020 (Bloomberg)No respite for oil, Trump’s immigration measure sows uncertainty, and human vaccine trials to begin in Europe. Here are some of the things people in markets are talking about today. Down again Brent crude, the international oil benchmark, dropped to a 21-year low in London trading this morning with the June … Read more

In Canada’s Energy Capital, a Real Estate Glut Compounds the Misery

April 22, 2020 by EnergyNow Media

By Kevin Orland (Bloomberg) From the outside, the roughly diamond-shaped Nexen tower is one of the more recognizable features of Calgary’s skyline. On the inside, it’s a barren landscape. All 37 floors are empty.Office landlords in major cities around the world are facing a hit from the coronavirus. In Canada’s energy capital, they’re suffering from a … Read more

Prairie Provident Provides an Update on Lending Facility

April 22, 2020 by EnergyNow Media

April 21, 2020 | Source: Prairie Provident Resources Inc. CALGARY, Alberta, April 21, 2020 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident” or the “Company”) (TSX:PPR) announces that, in light of the pronounced uncertainties affecting the oil and gas industry, with the COVID-19 pandemic continuing to drive a significant falloff in global energy consumption and … Read more

Chinook Energy Completes Plan of Arrangement

April 22, 2020 by EnergyNow Media

April 21, 2020 Newsfile Calgary, Alberta – Chinook Energy Inc. (TSX: CKE) (“Chinook”) is pleased to announce that it has completed its previously announced plan of arrangement (the “Arrangement“) pursuant to which Tourmaline Oil Corp. acquired all the issued and outstanding common shares of Chinook (“Chinook Shares“) for cash consideration of $0.0675 per Chinook Share or approximately $15 million in … Read more

Trudeau Government Reveals What it Truly Thinks About Canada’s Energy Industry – Fraser Institute

April 22, 2020April 22, 2020 by EnergyNow Media

Appeared in National Newswatch, April 20, 2020 After weeks of delay, on Friday the federal government finally announced its aid package for the energy sector. To say it’s underwhelming would be an understatement. More than anything, the package confirms that the Trudeau government sees one of Canada’s most important sectors as a “sunset” industry. The … Read more

XI Technologies: A time to come together before we can be together

April 22, 2020 by EnergyNow Media

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. This week, XI’s Vice-President of Business Development, Jennifer Baerg, wanted to share her thoughts on the current situation in our industry. If you’d like to receive our Wednesday … Read more

Plunging oil prices point to ‘deep collapse’ in sector, drilling firm CEO warns

April 22, 2020April 22, 2020 by The Canadian Press

CALGARY — The CEO of one of Canada’s largest drilling rig contractors says plunging North American crude prices on Monday and Tuesday are signs that the oil industry is headed for a “deep, deep collapse.”
On Tuesday, U.S. benchmark West Texas Intermed…

Bell: Trudeau, you’re not doing near enough for Alberta

April 24, 2020April 22, 2020 by EnergyNow Media

By: Rick Bell Published: April 21, 2020 They say you don’t look a gift horse in the mouth but when it comes from Justin Trudeau you look in the mouth. We didn’t see what we wanted to see when we had a look last Friday. We didn’t get the love from the prime minister we … Read more

Steadier prices no cure for Western Canada’s natural gas producer woes

April 22, 2020April 22, 2020 by The Canadian Press

CALGARY — Stronger and more stable natural gas prices in the wake of North American oil production cuts are offering hope for better times to some gas producers but haven’t changed Keyera Corp.’s plans to “optimize” its gathering and processing assets…

Q&A: Oil prices go negative. What does that mean?

April 21, 2020 by The Canadian Press

NEW YORK — The world is awash in oil, there’s little demand for it and we’re running out of places to put it.
That in a nutshell explains this week’s strange and unprecedented action in the market for crude oil futures contracts, where traders essenti…

Companies weigh dividend cuts, suspensions ahead of earnings amid pandemic

April 21, 2020 by The Canadian Press

TORONTO — When COVID-19 started sweeping across Canada, Cenovus Energy Inc. had to think fast to protect the company from the pandemic and a simultaneous oil price war between Saudi Arabia and Russia.
The Calgary-based company slashed its capital spen…

OPEC Ministers Rush to Hold Conference Call Amid Price Slump

April 21, 2020 by EnergyNow Media

By Salma El Wardany, Grant Smith and Javier Blas Apr 21, 2020 (Bloomberg) OPEC rushed to organize a conference call for oil ministers to discuss the global market as plunging demand crushes prices.Some Organization of Petroleum Exporting Countries ministers will speak on Tuesday, according to delegates who spoke on condition of anonymity. It was unclear which … Read more

Trump Pledges Funds for Oil Industry to Avert Deeper Job Losses

April 21, 2020 by EnergyNow Media

By Jordan Fabian and Jennifer A. Dlouhy Apr 21, 2020 (Bloomberg) President Donald Trump said his administration is working on a plan to make money available to the oil industry to prevent the loss of jobs after prices plunged below zero.“We will never let the great U.S. Oil & Gas Industry down,” Trump said in a … Read more

World’s Biggest Oil Storage Firm Says Almost All Space Sold

April 21, 2020 by EnergyNow Media

Apr 21, 2020 (Bloomberg) The world’s biggest independent oil storage company has all but run out of space for crude and refined products as a result of the fast-expanding glut that Covid-19 has created.“The available capacity on the oil side is almost completely sold out for our terminals,” Gerard Paulides, chief financial officer of Rotterdam-based Royal … Read more

OPEC+ Bid to Save Oil Industry Overwhelmed by Demand Collapse

April 21, 2020 by EnergyNow Media

By Grant Smith Apr 21, 2020 (Bloomberg) The most ambitious bid to rescue the global oil industry ever seen has been swept aside by a brutal wave of demand destruction.Less than two weeks ago, the world’s biggest oil producers — in a deal facilitated by U.S. President Donald Trump — agreed to slash output in the hope of … Read more

Oil Meltdown Spreads Beyond Expiring Contracts as WTI Slumps 42%

April 21, 2020 by EnergyNow Media

By Alex Longley Apr 21, 2020 (Bloomberg) The oil meltdown accelerated, with huge losses sweeping through markets as the world runs out of places to store unwanted crude and grapples with negative pricing.West Texas Intermediate plunged below zero on Monday for the first time in history with the contract for May nearing expiration, leaving traders in … Read more

Five Things to Know in World Business Today

April 21, 2020 by EnergyNow Media

By Lorcan Roche Kelly Apr 21, 2020 (Bloomberg) Oil market remains under extreme pressure, Trump tweets he’ll suspend immigration, and central banks are doing a lot of buying. Here are some of the things people in markets are talking about today. Cruel oil Yesterday’s unprecedented collapse far into negative territory of the West Texas Intermediate contract for May delivery is starting … Read more

Enbridge won’t ration Mainline deliveries as oil cuts mount

April 21, 2020April 21, 2020 by EnergyNow Media

April 20, 2020 Reuters Pipeline operator Enbridge Inc said on Monday it would not ration June deliveries on North America’s biggest oil pipeline network, the Mainline, as Canada’s oil producers step up production curtailments to cope with low prices. The notice by Enbridge shows pipeline congestion that has played a role in the deep discounting of … Read more

Negative WTI oil price plunge a short-term anomaly with limited impact say analysts

April 21, 2020April 21, 2020 by The Canadian Press

CALGARY — A Calgary energy analyst says the plunge by benchmark U.S. crude oil prices into negative territory for the first time on Monday is a short-term anomaly that likely won’t have a lasting effect on Canadian producers.
Matt Murphy of Tudor Pick…

Q&A: How does Western Canadian Select oil pricing work?

April 21, 2020April 21, 2020 by The Canadian Press

CALGARY — Western Canada’s oil price woes are often illustrated by references to the Western Canadian Select benchmark crude oil price. Alberta Premier Jason Kenney over the weekend released a tweet warning WCS is “now trading at negative prices,” wit…

Canada cuts steam-driven oil projects, risking permanent damage

April 21, 2020April 21, 2020 by EnergyNow Media

April 19, 2020 Canada’s steam-driven oil facilities are bearing the brunt of output cuts as the industry copes with low prices, and deeper reductions may risk permanent damage to the sites.The COVID-19 pandemic has severely cut fuel demand as the global economy slows, leading refiners to reduce purchases of crude. Canada, the world’s fourth-largest oil … Read more

Trans Mountain Project Update: Burnaby Terminal and Westridge Marine Terminal

April 21, 2020April 21, 2020 by EnergyNow Media

Apr 16, 2020 Work continues at our Lower Mainland terminals, with considerable progress being made on the foreshore expansion at Westridge Marine Terminal and ongoing work to prepare for the installation of 14 new tanks at Burnaby Terminal. In response to the evolving COVID-19 pandemic, we continue to follow all advice from government and health … Read more

Chinook Energy Inc. Announces Shareholder and Court Approval for Plan of Arrangement

April 20, 2020 by EnergyNow Media

Calgary, Alberta–(Newsfile Corp. – April 20, 2020) – Chinook Energy Inc. (TSX: CKE) (“Chinook”) is pleased to announce that today it received shareholder and court approval for the previously announced plan of arrangement (the “Arrangement”) pursuant to which Tourmaline Oil Corp. (“Tourmaline”) will acquire all the issued and outstanding common shares of Chinook. Pursuant to the Arrangement, Chinook shareholders … Read more

PrairieSky Announces 2020 first quarter results

April 20, 2020 by EnergyNow Media

April 20, 2020 Globe Newswire CALGARY, Alberta – PrairieSky Royalty Ltd. (“PrairieSky” or the “Company“) (TSX: PSK) is pleased to announce its first quarter (“Q1 2020“) operating and financial results for the period ended March 31, 2020. First Quarter 2020 Highlights: • Royalty production averaged 22,160 BOE per day (52% liquids), in line with royalty production … Read more

U.S. crude futures turn negative for first time on scant storage, weak demand

April 20, 2020 by EnergyNow Media

April 20, 2020 Reuters U.S. crude oil futures turned negative on Monday for the first time in history as storage space was filling up, discouraging buyers as weak economic data from Germany and Japan cast doubt on when fuel consumption will recover. Physical demand for crude has dried up, creating a global supply glut as … Read more

A Post Pandemic Oil and Gas Industry Comes Into View – Geoffrey Cann

April 21, 2020April 20, 2020 by EnergyNow Media

By Geoffrey Cann The outlines of a future oil and gas industry, shaped by the global pandemic, are starting to emerge. Writing History We will look back on 2020 as a pivotal time in the recent history of the planet, likely more so than 9/11, the Great Financial Crisis, and most assuredly, Brexit. We will … Read more

Point Loma Resources Announces Sale of Majority of Its Remaining Wizard Lake Assets and Resignation of Director

April 20, 2020 by EnergyNow Media

April 20, 2020 Accesswire VANCOUVER, BC – Point Loma Resources Ltd. (TSXV:PLX) (“Point Loma” or the “Corporation“) announces the sale of 97.5% of its remaining Wizard Lake assets to the Corporation’s secured debenture holders and a secured creditor in exchange for cancellation of all of the outstanding secured debentures and all amounts owed to the secured creditor. … Read more

Crescent Point Announces Corporate Update

April 20, 2020 by EnergyNow Media

April 20, 2020 CNW CALGARY – Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX and NYSE: CPG) is taking additional action to further enhance the Company’s long-term sustainability through additional cost reductions, and is including a revised 2020 outlook. KEY HIGHLIGHTS Lowering 2020 capital expenditures guidance by $75 million, or 10 percent, with no associated impact … Read more

How The Oilpatch And Geothermal Development Can Make Canada A Global Clean Energy Leader – David Yager

April 20, 2020April 20, 2020 by EnergyNow Media

By David Yager April 20, 2020 It is clean, green, steady, unlimited and, as an energy source, free. It employs many of the keys elements of Canada’s oil and gas industry from geophysics to engineering to drilling rigs to tubulars to chemicals to pumps. And it is in the same place as the oil and … Read more

Texas, Like OPEC, Can’t Turn Back Time for Oil: Liam Denning

April 20, 2020 by EnergyNow Media

By Liam Denning Apr 20, 2020 (Bloomberg Opinion) The Texas Railroad Commission has been petitioned to go back in time.The commission just held a marathon hearing on whether it ought to do something it hasn’t done in almost 50 years: organize curbs on the state’s oil output. I say “organize” because cuts are happening anyway; there’s simply no choice when the … Read more

Husky Energy Cuts 2020 Capital Spending to $1.7 Billion

April 20, 2020 by EnergyNow Media

April 20, 2020 | Source: Husky Energy Inc. 2020 capital expenditures cut ~50% from December 2019 guidance Liquidity increased by $500 million to $5.2 billion Integrated Corridor upstream production reduced by over 80,000 bbls/day / U.S. refinery throughput reduced Protection of workers and communities remains top priority CALGARY, Alberta, April 20, 2020 (GLOBE NEWSWIRE) — Husky Energy … Read more

Five Things to Know in World Business Today

April 20, 2020 by EnergyNow Media

By Lorcan Roche Kelly Apr 20, 2020 (Bloomberg) Nobody wants oil right now, lawmakers move close to another stimulus deal, and earnings season continues. Here are some of the things people in markets are talking about today. Cruel crude Oil plunged anew to the lowest level since 1999, with West Texas Intermediate for May delivery dipping below $14 a … Read more

More production cuts take Canadian total to 365,000 bpd so far

April 20, 2020April 20, 2020 by The Canadian Press

CALGARY — A move by Husky Energy Inc. to halt production of 80,000 barrels per day takes the total reduction in Canadian crude output to about 365,000 bpd since the onset of measures to deal with the COVID-19 pandemic, an analyst says.
That’s more tha…

Process Trace Moisture Analyzer for Natural Gas Glycol Dehydration Units

April 20, 2020 by EnergyNow Media

Natural gas dehydration is essential in many processes due to the presence of humidity in varying concentrations. Liquid water and hydrate formation will have an extensive impact on safety and operational reliability. Frozen control valves or plugged orifices can cause a complete shut-down. A common way to dehydrate gases is the use of a glycol … Read more

Slow the Spread of COVID-19 with Temporary Signage – IDENT Oil & Gas Signage

April 20, 2020 by EnergyNow Media

By Morgan Fraser We’ve all memorized the chorus to Staying Alive, whether we wanted to or not, but did you know the chorus is 24 seconds long? Just enough time for a proper handwash. Things have changed drastically over the last few weeks. Businesses are temporarily closing, many people are working from home, and processes are … Read more

Becht Hosts on Demand Webinar Series on Alkylation & Fired Heater Unit Turndown & Shutdown Operations

April 20, 2020 by EnergyNow Media

Becht’s Knowledge Webinars on FCC, Crude and Coking Turndown and Shutdown Considerations hosted over 1,000 people. Becht welcomes you to becht.com/training/becht-webinars/ to tune in for future webinars on Alkylation, Fired Heaters, Hydroprocessing, Turnaround Deferment, Plant Utilities and other units in the coming weeks. The next webinar is on HF and Sulfuric Alkylation on Tuesday, April 21st … Read more

BDC to increase support to Canadian oil and gas sector companies

April 20, 2020 by EnergyNow Media

April 17, 2020 MONTREAL – As part of a Team Canada response to the COVID-19 crisis, the Government of Canada, through BDC, Canada’s bank for entrepreneurs, and Export Development Canada (EDC) will make available additional financial capacity to help support Canada’s oil and gas sector. The commercial support, being developed by BDC and EDC, is intended to help Canada’s exploration and production, mid-stream, and … Read more

Oil in New York Plunges Below $15 as Storage Sites Fill

April 20, 2020April 20, 2020 by EnergyNow Media

By Elizabeth Low and Alex Longley Apr 20, 2020 (Bloomberg) Oil plunged below $15 a barrel in New York, a fresh 21-year low, as inventories soar because of the supply-demand mismatch that’s been created by the coronavirus.The most immediate West Texas Intermediate contract fell as much as 22% to $14.19 a barrel. While a major part … Read more

U.S. crude oil storage is filling rapidly

April 20, 2020 by EnergyNow Media

April 19, 2020 Reuters U.S. crude storage facilities are filling rapidly, albeit from a low starting level, and tank space will become a problem if the global oil market remains heavily oversupplied in June and beyond.With global lockdowns already sharply reducing demand for oil, a lack of storage would weigh further on already depressed prices, leaving … Read more

Canada Weekly Rig Count Down 5 for Week Ending April 17, 2020

April 20, 2020April 20, 2020 by EnergyNow Media

Canada’s drilling rig count is down 5 actively drilling rigs according to data collected by Baker Hughes for the week ending April 17, 2020. From one week ago, Alberta rig counts decreased 5 to 17 and the Saskatchewan rig counts increased 1 to 2. Oil drilling increased 1 to 7 and gas decreased 6 to … Read more

U.S. oil rigs drilling declines to lowest since 2010 – Baker Hughes

April 20, 2020April 20, 2020 by EnergyNow Media

April 17 (Reuters) The fall in the number of U.S. rigs drilling for oil slowed this week, data showed on Friday, although the number of active rigs has fallen for a record 19 weeks in a row to the lowest level since 2010, according to Baker Hughes data going back to 1987. The slower fall … Read more

Petroleum in Real Life: N-95 masks: Vital to Protection & Human Life

April 19, 2020 by EnergyNow Media

This vital piece of personal protective equipment is made possible using petrochemicals derived from oil and natural gas. By Holly Quan As the COVID-19 pandemic unfolds, we often hear about the critical need for N-95 masks (also called N-95 respirators). Did you know these vital pieces of personal protective equipment are almost entirely made from petroleum-based … Read more

Column: 109 Nincompoops – Michael Binnion: 109 Groups Want the Government to End Canadian Oil During a Pandemic Crisis

April 19, 2020April 19, 2020 by EnergyNow Media

April 17, 2020 by Michael Binnion 109 different groups, who told you the planet was dying because of single-use plastics, just wrote a letter to their friends in the Liberal Government encouraging them to use the current crisis to end oil in Canada. The very oil that is used to make the single-use plastics that … Read more

B.C and Saskatchewan issue COVID-19 warnings following cases at oilsands site

April 19, 2020April 19, 2020 by The Canadian Press

FORT MCMURRAY, Alta. — Health officials in British Columbia and Saskatchewan are advising people to self-isolate if they’re returning from an area of Alberta where an oilsands site is suffering from a COVID-19 outbreak.
The Saskatchewan Health Authori…

ConocoPhillips to cut oil production in Alberta, cites weak prices, COVID-19

April 19, 2020April 19, 2020 by The Canadian Press

CALGARY — ConocoPhillips says it plans to cut production at its Surmont oilsands operation in northern Alberta due to low oil prices until market conditions improve.
The Houston-based company said in a release that it expects to reduce production at S…

A Matter of Fact: Mythbusting on Keystone XL – Canadian Energy Centre

April 18, 2020April 18, 2020 by EnergyNow Media

Published by Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter An oil facility in Cushing, Okla. along the 4,250-kilometre Keystone Pipeline System. Photograph courtesy TC Energy The spotlight is back on the Keystone XL pipeline now that construction is in the early stages, bringing the promise of jobs and … Read more

Alberta ramps up testing at care centres, which have seen 32 of 50 COVID deaths

April 17, 2020April 17, 2020 by The Canadian Press

EDMONTON — Alberta is ramping up testing to reduce the spread of COVID-19 at long-term care facilities, where 32 of the province’s 50 deaths have occurred.
Deena Hinshaw, chief medical officer of health, said even staff and residents who have not show…

Watch & Share If You Agree – Canada’s Energy Citizens

April 17, 2020 by EnergyNow Media

Many of us have had to make significant sacrifices in order to help fight the COVID-19 pandemic. Yet, that hasn’t stopped Canadian’s from stepping up to do their part and contribute when they can. Companies from across the economy have re-tooled to produce much needed medical supplies, or donate reserve personal protective equipment to … Read more

CAODC commends Federal Government for $1.7 billion investment in well reclamation

April 17, 2020 by EnergyNow Media

April 17, 2020 The Canadian Association of Oilwell Drilling Contractors is pleased with the Federal Government’s $1.7 billion commitment to the reclamation of abandoned wells at a time when workers in the oil and gas industry are struggling. An investment like this will put well-servicing companies back to work for an extended period, and will … Read more

Trudeau’s Energy Aid Mostly to Environment While Skirting More Help for Industry

April 17, 2020 by EnergyNow Media

By Kait Bolongaro and Kevin Orland Apr 17, 2020 (Bloomberg) Prime Minister Justin Trudeau announced C$2.45 billion to help workers in Canada’s energy sector, a smaller aid package than had been sought by an industry that has been hammered by the plunge in oil prices.Most of the money is aimed at the environment: The government will … Read more

Tidewater Midstream and Infrastructure Ltd. updates 2020 guidance, provides operational update and confirms first quarter reporting date and conference call

April 17, 2020 by EnergyNow Media

April 17, 2020 CNW CALGARY, April 17, 2020 /CNW/ – Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation“) (TSX: TWM) provides updated 2020 guidance, operational update and impacts from the COVID-19 pandemic. As the situation with the COVID-19 pandemic continues to evolve, Tidewater is taking proactive and preventative measures to protect the health and safety of our … Read more

Trudeau says $1.7B coming for orphaned-well cleanups

April 17, 2020April 17, 2020 by The Canadian Press

OTTAWA — Prime Minister Justin Trudeau says the federal government will support work in the oil and gas sector by spending $1.7 billion to help clean up “orphaned wells.”
He says restoring abandoned oil and gas wells is good for the environment, for l…

Oil Extends Slump Below $18 as Gloomy Demand Outlook Persists

April 17, 2020 by EnergyNow Media

By Saket Sundria and Alex Longley Apr 17, 2020 (Bloomberg) Oil fell below $18 a barrel in New York as a wave of gloomy demand forecasts and a cratering physical market outweighed an unprecedented deal to cut output. China’s economy suffered a historic slump in the first quarter as the coronavirus outbreak threatened global markets for its … Read more

Five Things to Know in World Business Today

April 17, 2020 by EnergyNow Media

By Lorcan Roche Kelly Apr 17, 2020 (Bloomberg) America takes steps towards reopening economy, early signs of success in virus treatment trial, and oil’s plunge continues. Here are some of the things people in markets are talking about today. Damage done The coronavirus shutdown in China spurred the first economic contraction in decades at minus 6.8% in the first three months … Read more

Saudi Arabia, Russia Hint at Further Action to Stem Oil Rout

April 17, 2020 by EnergyNow Media

By Robert Tuttle and Grant Smith Apr 17, 2020 (Bloomberg) Saudi Arabia and Russia signaled they may be open to further output cuts after the latest OPEC+ deal to curb global oil supplies failed to stem crude’s downward spiral.The two nations will “continue to closely monitor the oil market and are prepared to take further measures … Read more

Gran Tierra Energy Inc. Provides Business Update in Response to Oil Price Volatility and COVID-19 and Announces Virtual Annual General Meeting

April 17, 2020 by EnergyNow Media

April 16, 2020 | Source: Gran Tierra Energy Inc. CALGARY, Alberta, April 16, 2020 (GLOBE NEWSWIRE) — Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced a business update regarding the Company’s proactive measures taken to protect its financial strength in response to the large decrease in world oil prices and the impacts of COVID-19. All dollar … Read more

Cordy Oilfield Services Inc. Reports Fourth Quarter and 2019 Annual Results

April 17, 2020 by EnergyNow Media

April 16, 2020 | Source: Cordy Oilfield Services Inc. CALGARY, Alberta, April 16, 2020 (GLOBE NEWSWIRE) — CORDY OILFIELD SERVICES INC. (the “Corporation” or “Cordy”) (CKK: TSX-V) released today its fourth quarter and 2019 annual results. Three months ended December 31 Twelve months ended December 31 ($ 000’s) 2019 2018 ($) Change 2019 2018 ($) Change … Read more

Global oil consumption cut by up to a third

April 17, 2020 by EnergyNow Media

April 16, 2020 Reuters What happens next in the oil market depends on how quickly and completely the global economy emerges from lockdown, and whether the recessionary hit lingers through the rest of this year and into 2021. The OPEC+ deal, finalised on Sunday, envisages production cuts of 9.7 million bpd in May and June, with … Read more

Nova Scotia LNG project decision delayed due to market conditions, COVID-19

April 17, 2020April 17, 2020 by The Canadian Press

CALGARY — The company planning to build a $10-billion LNG export facility in Nova Scotia says it will delay making an investment decision because of depressed global commodity markets and the effects of the COVID-19 pandemic.
Last July, Pieridae Energ…

Canadian banks ease credit rules for energy companies to stave off defaults, bankruptcies

April 17, 2020April 17, 2020 by EnergyNow Media

April 16, 2020 Reuters Canadian banks are beginning to relax lending standards for energy firms struggling to operate with oil prices at half the level needed to cover costs, seeking to keep them afloat until the industry recovers from its deepest slump ever. Banks are extending credit and waiving covenants for some energy companies to avoid … Read more

Freeze carbon tax, delay new climate regs during virus crisis, industry group asks

April 17, 2020April 17, 2020 by The Canadian Press

OTTAWA — Canada’s oil and gas producers have asked the federal government to freeze the carbon tax and delay new climate change regulations while the industry weathers the storm of COVID-19.
In a letter to Natural Resources Minister Seamus O’Regan sen…

Alberta now over 2,000 COVID cases, outbreaks at care homes, work sites

April 16, 2020April 16, 2020 by The Canadian Press

EDMONTON — Alberta has 162 new cases of COVID-19, the highest single-day report to date, and two more residents in long-term care homes have died.
Dr. Deena Hinshaw, the province’s chief medical officer of health, says one of the victims was a residen…

Oil and gas giant Shell targets ‘net zero’ emissions by 2050

April 16, 2020 by The Canadian Press

BERLIN — Energy company Royal Dutch Shell told investors Thursday that it aims to stop adding greenhouse gases to the atmosphere by 2050, a move that was welcomed by some climate campaigners even as others called it “corporate greenwash.”
The British-…

Tribes press judge to halt US-Canada pipeline as work starts

April 16, 2020April 16, 2020 by The Canadian Press

BILLINGS, Mont. — American Indian tribes and environmental groups are pressuring a federal judge to shut down work on the disputed Keystone XL pipeline from Canada to Nebraska less than two weeks after it started, because of fears over workers spreadi…

Gear Energy Ltd. Provides Revised Outlook for the Second Quarter

April 16, 2020 by EnergyNow Media

April 16, 2020 CALGARY – Gear Energy Ltd. (“Gear“) (TSX: GXE) announces revisions to the outlook for the second quarter of 2020. Oil prices continue to be depressed as a result of demand destruction due to the impacts of COVID-19 on the global economy. With this weakness and uncertainty in the price of oil looking to … Read more

Pieridae Delivers Strong Q4 and 2019 Results

April 16, 2020 by EnergyNow Media

April 16, 2020 Globe Newswire Revenue, Net Operating Income & Production All Up Substantially Key Highlights: Total revenue of $114.4 million in 2019. Petroleum and natural gas revenue increased $102.5 million year over year, or 4347%, to $104.9 million in 2019 Net Operating Income1 (“NOI”) increased year over year from a loss of $0.5 million in 2018 … Read more

Five Things to Know in World Business Today

April 16, 2020 by EnergyNow Media

By Lorcan Roche Kelly Apr 16, 2020 (Bloomberg) Trump to unveil guidelines for reopening economy, another huge jobless number expected, and Morgan Stanley reports. Here are some of the things people in markets are talking about today. Peak? President Donald Trump said that he will announce guidelines today to ease the stay-at-home rules, saying that data suggests the U.S. … Read more

U.S. Weighs Paying Drillers to Leave Oil in Ground Amid Glut

April 16, 2020 by EnergyNow Media

By Jennifer A. Dlouhy and Sheela Tobben Apr 15, 2020 (Bloomberg) The Trump administration is considering paying U.S. oil producers to leave crude in the ground to help alleviate a glut that has caused prices to plummet and pushed some drillers into bankruptcy.The Energy Department has drafted a plan to compensate companies for sitting on as … Read more

Oil Holds Near 18-Year Low as Demand Shock Outweighs Output Cuts

April 16, 2020 by EnergyNow Media

By Saket Sundria and Alex Longley Apr 16, 2020 (Bloomberg) Oil was anchored near $20 a barrel as concerns over virus-led demand destruction outweighed an agreement by the world’s biggest producers to curb supply.Futures rose Thursday but remained near their lowest closing level in 18 years, and there are signs that stockpiles are growing globally. U.S. … Read more

Suncor supports Canadians and their communities through Petro-Canada program

April 16, 2020 by EnergyNow Media

April 15, 2020 video-release Suncor supports Canadians and their communities through Petro-Canada program We’re incredibly proud of our frontline workers, that’s why we’re empowering our Associates with a $3 million investment that enables them to support their communities during this time. #LiveByTheLeaf A thank you from Suncor CEO, Mark Little Suncor president and chief … Read more

Saturn Oil & Gas Inc. Announces 2019 Year-End Reserves Highlighted by 65% Increase in Total Proved Reserves

April 16, 2020 by EnergyNow Media

Saturn achieved strong corporate reserves growth in 2019 marked by a 57% increase in proved developed producing, 65% in total proved and 63% in proved plus probable reserves April 16, 2020| Source: Saturn Oil + Gas Inc CALGARY, Alberta, April 16, 2020 (GLOBE NEWSWIRE) — Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX.V: SOIL) … Read more

Peyto Announces Reduced Capital Program, Reduced Dividend and COVID-19 Preparedness

April 16, 2020 by EnergyNow Media

April 15, 2020 Globe Newswire CALGARY, Alberta – Peyto Exploration & Development Corp. (“Peyto” or the “Company”) (TSX: PEY) announces today its board of directors (the “Board”) has approved a reduction to the Company’s capital program and dividend in response to the extreme impacts of the COVID-19 pandemic on near term hydrocarbon demand and commodity prices. … Read more

Tamarack Valley Energy Ltd. Announces Appointment of New Board Member and Provides Information Regarding Annual Meeting of Shareholders

April 16, 2020 by EnergyNow Media

April 15, 2020 Newsfile Calgary, Alberta – Tamarack Valley Energy Ltd. (TSX: TVE) (“Tamarack” or the “Company”) is pleased to announce the appointment of Ms. Marnie Smith to the Company’s Board of Directors (the “Board”) effective April 3, 2020. In addition, the Company provides information regarding its upcoming annual general and special meeting of shareholders … Read more

U.S. court rules against permit in new setback for Keystone XL oil pipeline

April 16, 2020 by EnergyNow Media

April 15, 2020 Reuters A U.S. court on Wednesday ruled against the U.S. Army Corps of Engineers’ use of a permit that allows new energy pipelines to cross water bodies, in the latest setback to TC Energy Corp’s plans to build the Keystone XL oil pipeline.Keystone XL, which would carry 830,000 barrels per day of crude … Read more

Schachter’s Eye on Energy: Massive Inventory Build Trumps OPEC+ Deal

April 16, 2020April 16, 2020 by EnergyNow Media

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

Fair Government Treatment for Energy Workers – Add Your Name to This Open Letter – Canada Action

April 16, 2020April 16, 2020 by EnergyNow Media

Anti-pipeline activists are circulating petitions demanding that the oil and gas industry receive no COVID-19 support from our government. What might surprise you is they claim to be doing it in the name of oil and gas workers: It’s critical that we speak up and balance the conversation. We know that the people who work in … Read more

Outbreak of COVID-19 at oilsands facility being watched closely

April 16, 2020April 16, 2020 by The Canadian Press

EDMONTON — Alberta has reached almost 2,000 cases of COVID-19 and is now dealing with an outbreak at an oilsands facility.
Dr. Deena Hinshaw, the province’s chief medical officer of health, said three workers have tested positive at the Kearl operatio…

The COVID-19 Crisis Exposes the Hollow Fantasies of Greta and Extinction Rebellion

April 15, 2020 by EnergyNow Media

By Tim Worstall @worstall From CapX.co Photo: Michael Campanella / Getty Images Share We’ve had a taste of Extinction Rebellion’s world – and no one likes it Perhaps a more sensible approach to climate change will be one silver lining of this crisis It turns out drastic decreases in consumption are not great for humanity – who … Read more

CAODC applauds Saskatchewan Government’s support for oil industry.

April 15, 2020 by EnergyNow Media

PRESS RELEASE For Immediate Release: April 15, 2020 CAODC applauds Saskatchewan Government’s support for oil industry. The Canadian Association of Oilwell Drilling Contractors applauds the Saskatchewan Government for implementing a series of relief measures for the province’s oil and gas sector. Canada’s oil and gas service sector has been decimated by both the oil price … Read more

Arrow Exploration Corp. Announces New Leadership Team, Board Update, and 2019 Year-End Reserves

April 15, 2020 by EnergyNow Media

April 14, 2020 | Source: Arrow Exploration Corp. CALGARY, Alberta, April 14, 2020 (GLOBE NEWSWIRE) — ARROW Exploration Corp. (“Arrow” or the “Company”) (TSXV: AXL) is pleased to report the appointment of a new leadership team, an update on its board of directors, and its 2019 year-end reserves in Colombia and Canada. New Leadership and Board … Read more

Oil Slumps Below $20 as IEA Sees Storages Filling Despite Cuts

April 15, 2020 by EnergyNow Media

By James Thornhill and Alex Longley Apr 15, 2020 (Bloomberg) Oil fell below $20 a barrel after the International Energy Agency said a historic production cut deal won’t be enough to counter a record demand slump this year.Futures fell as much as 4.5% in New York to the lowest since 2002. Oil demand will drop by … Read more

Oil Glut May Overwhelm Global Storage Tanks Within Weeks

April 15, 2020 by EnergyNow Media

By Grant Smith Apr 15, 2020 (Bloomberg) Just days after OPEC and its allies announced their big deal to rescue the global oil industry, it’s becoming brutally clear that all they’ve done is limit the worst of the damage. The largest coordinated production cut in history is already withering in the face of a demand collapse … Read more

Five Things to Know in World Business Today

April 15, 2020 by EnergyNow Media

By Lorcan Roche Kelly Apr 15, 2020 (Bloomberg) Trump halts payments to WHO, Goldman earnings due, and IEA warns the world may run out of places to store oil. Here are some of the things people in markets are talking about today. Who pays? President Donald Trump has decided to temporarily halt America’s funding for the World Health Organization, … Read more

America’s Oil Glut Turns Canadian Pipeline Problem on Its Head

April 15, 2020 by EnergyNow Media

By Robert Tuttle and Catherine Ngai Apr 15, 2020 (Bloomberg) The world-wide coronavirus pandemic that’s caused oil demand to plummet has turned the Canadian oil patch’s biggest problem on its head. Rather than having too few oil pipelines, the province now has too many.The collapse in oil demand caused by people staying home has reduced U.S. … Read more

Vermilion, Surge added to list of energy producers that have slashed dividends

April 15, 2020April 15, 2020 by The Canadian Press

CALGARY — Shares in Calgary-based Vermilion Energy Inc. and Surge Energy Inc. plunged on Wednesday after they announced the suspension of their dividend programs in response to persistently low oil prices.
Vermilion shares on the Toronto Stock Exchang…

Deloitte Quarterly Price Forecast – Global oil prices have been in a tailspin

April 15, 2020 by EnergyNow Media

Global oil prices have been in a tailspin since talks broke down between OPEC and Russia–which resulted in increased production from Saudi Arabia and other regions–and the COVID-19 pandemic slowed oil-demand growth. Prices crashed in mid-March, suffering their largest daily decreases since the 1991 Gulf War and falling to their lowest values in recent memory. … Read more

Canada’s wage subsidy now enacted – KPMG

April 15, 2020 by EnergyNow Media

Author: KPMG Canada The Canada Emergency Wage Subsidy (CEWS), which helps businesses protect workers’ jobs during the COVID-19 pandemic, was further clarified in Bill C-14, the COVID-19 Emergency Response Act, No. 2. The Bill received royal assent on April 11, 2020, bringing this measure into law. The CEWS is a temporary government subsidy that will … Read more

The newest (and best) way to manage asset connectivity – GDM Pipelines

April 15, 2020 by EnergyNow Media

As part of our ongoing commitment to provide our customers with the best data and tools to make effective operational decisions, GDM Pipelines is pleased announce the release of Connectivity Manager…the latest addition to Converge! Converge Connectivity Manager is the simplest, most cost-effective connectivity solution on the market. Using a simple drag-and-drop interface, you can … Read more

XI Technologies: Why knowing your working interest partners is more important than ever

April 15, 2020 by EnergyNow Media

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. With the increased focus on assets involved in the Orphan Well Association … Read more

Why Canada Can’t Afford to Let Our Start-Ups Crash During COVID-19 – Koleya Karringten

April 15, 2020April 15, 2020 by EnergyNow Media

by Koleya Karringten Why Canada Can’t Afford to Let Our Start-Ups Crash During COVID-19 When my father Darsell and I started Absolute Combustion almost 15 years ago, we imagined that one day, we’d be a world-leading cleantech firm with thousands of employees, a strong international market and good prospects for growing even bigger. And so … Read more

Heavy discount narrows as output cuts look to ease glut

April 15, 2020April 15, 2020 by EnergyNow Media

April 14, 2020 Reuters Canadian heavy crude’s discount versus the U.S. benchmark West Texas Intermediate (WTI) oil narrowed on Tuesday, as traders factored in OPEC+ supply cuts that look to ease a global glut, and space on Canadian pipelines.Cuts totaling 9.7 million barrels per day take effect in May, although they fall well short of estimates … Read more

Surge Energy Inc. Announces COVID-19 Pandemic Response; Corporate Update; Annual General Meeting; Dividend Suspension

April 14, 2020 by EnergyNow Media

April 14, 2020 CNW CALGARY – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) provides an operational update. COVID-19: PROTECTING STAFF, FAMILIES, SERVICE PROVIDERS, STAKEHOLDERS AND THE PUBLIC In response to the rapidly evolving COVID-19 pandemic, Surge has taken all possible steps to protect its staff, their families, service providers, stakeholders and the general public. … Read more

Delphi Energy Corp. Announces Continuation of Its Strategic Process Under a Court-Supervised Restructuring Proceeding

April 14, 2020 by EnergyNow Media

April 14, 2020 Globe Newswire CALGARY, Alberta – Delphi Energy Corp. (“Delphi” or the “Company”) announces that it intends to continue to carry out its strategic alternatives process, which may involve the sale of all or a portion of the business and assets or shares of the Company, or a refinancing, recapitalization or other restructuring transaction (the “Strategic … Read more

Codeco-Vanoco Engineering – Completes Successful Liner Install for Mining Paste Holes

April 14, 2020 by EnergyNow Media

Codeco -Vanoco Engineering Inc. (CVEI) is pleased to announce the successful completion of two liner installations on existing paste holes for a mining client in Northern Manitoba, Canada The wellbores were drilled previously by CVEI at an inclination of 60° (from surface) to a measured depth of 870m (2855ft). Recently the 219mm (8⅝”) casing was … Read more

It will be weeks before Canada can start reopening economy – Trudeau – More on energy aid package “shortly”

April 14, 2020 by EnergyNow Media

April 14, 2020 Reuters It will be weeks still before Canada can start reopening the economy and any such effort will be done in stages and in coordination with the 10 provinces, Prime Minister Justin Trudeau said on Tuesday. Trudeau also told a daily briefing that he would shortly have more to say about a promised … Read more

Tax deferral is good, but true tax relief is needed – Franco Terrazzano, Canadian Taxpayers Federation

April 14, 2020 by EnergyNow Media

Tuesday, April 14, 2020 by Franco Terrazzano, Canadian Taxpayers Federation (This column originally appeared in the Calgary Sun) Calgary councillors have the funds to help struggling families and businesses weather this economic storm. They just need the political will to make it happen. City council recently approved a property tax deferral plan that allows Calgarians to postpone property … Read more

Five Things to Know in World Business Today

April 14, 2020 by EnergyNow Media

By Lorcan Roche Kelly Apr 14, 2020 (Bloomberg) States threaten Trump authority on reopening, bank earnings season kicks off, and markets rise. Here are some of the things people in markets are talking about today. Total authority? Even as the American toll from the coronavirus rises to more than 23,000, the policy discussion has firmly moved to when … Read more

Oil Declines as Demand Collapse Eclipses Planned Output Cuts

April 14, 2020 by EnergyNow Media

By Saket Sundria and Alex Longley Apr 14, 2020 (Bloomberg) Oil erased earlier gains as the demand destruction caused by the coronavirus pandemic outweighed planned output cuts from the world’s biggest producers.Futures fell 1.6% in New York amid persistent concerns of a massive supply glut. A key timespread on the American benchmark — a gauge of … Read more

NXT Energy Solutions Announces 2019 Year End Results

April 14, 2020 by EnergyNow Media

April 14, 2020 05:00 ET | Source: NXT Energy Solutions Inc. CALGARY, Alberta, April 14, 2020 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX: SFD; OTC QB: NSFDF) today announced the Company’s financial and operating results for the year ended December 31, 2019. All dollar amounts herein are in Canadian Dollars unless otherwise … Read more

TSX SYMBOL: ZAR – Zargon Oil & Gas Ltd. Announces Resignation of Director

April 14, 2020 by EnergyNow Media

April 14, 2020 | Source: Zargon Oil & Gas Ltd. CALGARY, Alberta, April 14, 2020 (GLOBE NEWSWIRE) — Zargon Oil & Gas Ltd. (“Zargon” or the “Company”) announces that Glenn Koach has resigned from its Board of Directors, effective immediately. For further information please contact: C.H. Hansen President and Chief Executive Officer Zargon Oil & Gas Ltd. … Read more

Canadian oilpatch cutbacks expected to continue despite OPEC agreement

April 14, 2020April 14, 2020 by The Canadian Press

CALGARY — Canadian oil wells will continue to be shut down amid weak global oil prices despite an agreement to limit production struck by OPEC and other major producers on the weekend, producers say.
The price of Western Canadian Select bitumen-blen…

Heavy discount narrows after OPEC+ supply-cut deal

April 14, 2020April 14, 2020 by EnergyNow Media

April 13, 2020 Reuters Canadian heavy crude’s discount narrowed versus the U.S. benchmark West Texas Intermediate (WTI) oil on Monday, as a global deal on output cuts failed to substantially lift oil prices in the face of a worldwide plunge in demand due to the coronavirus pandemic.Western Canada Select (WCS) heavy blend crude for May delivery … Read more

COVID-19 Will Greatly Reduce Voter Support For The Anti-Oil Movement-David Yager

April 14, 2020April 14, 2020 by EnergyNow Media

By David Yager Those convinced that the climate change movement has quasi-religious underpinnings had their views confirmed by the Pope in a pre-Easter interview. An Associated Press wire story carried the headline, “Pope Francis says coronavirus could be ‘nature’s response’ to climate change.” As people struggle to cope emotionally, medically and financially with the greatest … Read more

The Inside Story of How a Price War Ended

April 14, 2020April 14, 2020 by EnergyNow Media

By Javier Blas Apr 13, 2020 (Bloomberg) After a week-long marathon of calls between world leaders and video conferences featuring dozens of energy ministers, it was the moment the 2020 oil price war finally ended.From Villahermosa, a city near Mexico’s largest crude terminal, Energy Minister Rocio Nahle raised her voice. “Your Royal Highness, Mexico has already … Read more

Advantage Announces Agreement to Sell 12.5% Interest in Glacier Gas Plant for $100 Million

April 13, 2020 by EnergyNow Media

April 13, 2020 CNW CALGARY, April 13, 2020 /CNW/ – Advantage Oil & Gas Ltd. (“Advantage” or the “Corporation”) is pleased to announce it has reached a definitive agreement to sell a 12.5% interest in the Glacier Gas Plant to a strategic partner for $100 million cash proceeds. This transaction will fortify Advantage’s robust balance sheet during a time of … Read more

Five Things to Know in World Business Today

April 13, 2020 by EnergyNow Media

By Lorcan Roche Kelly Apr 13, 2020 (Bloomberg) Oil deal reached, Fauci says U.S. reopening possible in May, and an earnings season like no other. Here are some of the things people in markets are talking about today. Almost 10 million barrels The world’s top oil producers agreed to cut output by 9.7 million barrels a day … Read more

Oil Little Changed After Historic OPEC+ Deal to Cut Production

April 13, 2020 by EnergyNow Media

By Verity Ratcliffe, Mahmoud Habboush, Saket Sundria and Dan Murtaugh Apr 13, 2020 (Bloomberg) Oil surrendered gains after rising in early trading as investors weighed whether an unprecedented deal by the world’s biggest producers to cut output would would be enough to steady a market pummeled by the coronavirus.Futures in London were up 0.5% after the … Read more

Free Kenexis Fire & Gas Mapping Course – Gas Detection for Flammable Gases Liquefied Under Pressure

April 13, 2020 by EnergyNow Media

In order to help, especially in this time of COVID-19 related social distancing where so many engineers are working from home and trying to find ways to maintain their professional development, Westech Industrial has teamed up with Kenexis to offer (for a limited time) a COMPLIMENTARY 3-4 hour training class (via Microsoft Teams) on how … Read more

Schachter’s Eye on Energy: Any OPEC Deal Meaningless – Oil Glut Means Lower Prices Until Quarantining Is Over

April 13, 2020April 13, 2020 by EnergyNow Media

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

Becht Launches Knowledge on Demand Webinar Series on Unit Turndown & Shutdown Operations

April 13, 2020April 13, 2020 by EnergyNow Media

Becht’s first Knowledge Webinar on Fluid Catalytic Cracking (FCC) Turndown and Shutdown Considerations hosted over 500 people live from 38 countries. Becht welcomes you to http://webinars.becht.com/ to tune in for future webinars on Crude & Vacuum Units, Coking & Heavy Oils, Alkylation, Hydroprocessing, Fired Equipment, Plant Utilities and other units in the coming weeks. The … Read more

AMLO Scores Win After Mexico Resists Pressure from Oil Titans

April 13, 2020 by EnergyNow Media

By Amy Stillman Apr 12, 2020 (Bloomberg) Mexican President Andres Manuel Lopez Obrador scored a political victory on Sunday by convincing oil nations to let him cut production far less than other OPEC+ members, reinforcing his nationalist project to revive state-owned producer Pemex.Mexico will only cut 100,000 barrels — just a quarter of its pro-rated share … Read more

Saudi Minister Says OPEC+ Deal to Bring Stability to Oil Markets

April 13, 2020April 13, 2020 by EnergyNow Media

By Javier Blas Apr 12, 2020 (Bloomberg) Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said he was more than happy with the historic oil-output cut agreed by OPEC and other global producers on Sunday and hoped it would lead to market stability.“We have demonstrated that OPEC+ is up and alive,” Prince Abdulaziz told Bloomberg News … Read more

Canada Weekly Rig Count Down 6 for Week Ending April 9, 2020

April 13, 2020April 13, 2020 by EnergyNow Media

Canada’s drilling rig count is down 6 actively drilling rigs according to data collected by Baker Hughes for the week ending April 9, 2020. From one week ago, Alberta rig counts decreased 7 to 22 and the Saskatchewan rig counts stayed at 1. Oil drilling decreased 3 to 6 and gas decreased 3 to 29. … Read more

HISTORIC DEAL: Oil Price War Ends With Historic OPEC+ Deal to Cut Output

April 13, 2020April 13, 2020 by EnergyNow Media

April 12, 2020 OPEC+ alliance agrees to cut production by 9.7m barrels a day Brent crude rises 3% in volatile trading session after deal The world’s top oil producers pulled off a historic deal to cut global petroleum output by nearly a 10th, putting an end to the devastating price war between Saudi Arabia and … Read more

News that deal to cut global oil production has been finalized is welcomed in Canada

April 13, 2020April 13, 2020 by The Canadian Press

News that a deal was finalized by OPEC and other oil producing nations to cut production by nearly 10 million barrels per day is being welcomed in Canada, where provinces have suffered drastic revenue losses due to rock-bottom crude prices.
“This is …

OPEC+ Ministers Meet in Race Against Market Open to Clinch Deal

April 12, 2020 by EnergyNow Media

By Javier Blas, Grant Smith and Salma El Wardany Apr 12, 2020 (Bloomberg) Negotiators raced to clinch a historic deal to cut oil supply and stem a devastating price rout, as the clock ticked down to a dramatic market open. OPEC+ ministers met virtually on Easter Sunday afternoon amid signs of progress. After four days … Read more

How the Pandemic Wiped Out Oil Demand Around the World – See How Canada & Others Are Affected

April 12, 2020April 12, 2020 by EnergyNow Media

By Christopher Sell Apr 10, 2020 (Bloomberg) Global oil demand is being destroyed as the coronavirus forces people around the world to remain indoors and avoid all unnecessary travel.Currently, between a third and a half of the world’s population are in lockdown, meaning few people are driving, flying or doing much that would require the use … Read more

Fueling Canada’s Economy: How Canada’s Oil and Gas Industry Compares to Other Major Sectors – CEC

April 12, 2020April 12, 2020 by EnergyNow Media

Published by Mark Milke and Lennie Kaplan Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Photograph courtesy TC Energy This Fact Sheet compares Canada’s oil and gas extraction sector (narrowly defined to include conventional oil and gas and oil sands) with the automotive and aerospace sectors on national … Read more

REDUCE THE RISK OF “ZOOMBOMBING” – Tips to Avoid Detrimental & Embarrassing Meeting Disruptions – Yogi Schulz

April 13, 2020April 11, 2020 by EnergyNow Media

by Yogi Schulz Zoombombing has emerged as the newest word in the English language as malicious vandals have crashed Zoom videoconferences and covered the screen with graffiti or worse for all to see. Such outcomes are of course: Embarrassing to the host. Disruptive and time-wasting for the participants. Detrimental to reputation or brand messaging if … Read more

Canada did not agree to specific production cuts in G20 meeting – Seamus O’Regan

April 11, 2020April 11, 2020 by EnergyNow Media

Steve Scherer By Steve Scherer OTTAWA (Reuters) – Canada and the G20 countries agree on the need for oil price stability, but in a Friday meeting Canada did not promise any specific production cuts, Natural Resources Minister Seamus O’Regan said on Friday. The minister also said that the federal government would deliver an aid package … Read more

Freehold Royalties Ltd. Announces Cost Reductions and Adjusts Dividend for April 2020

April 11, 2020 by EnergyNow Media

April 09, 2020 18:00 ET | Source: Freehold Royalties Ltd. CALGARY, Alberta, April 09, 2020 (GLOBE NEWSWIRE) — Reflecting sustained weakness in crude oil prices, Freehold Royalties Ltd. (Freehold) (TSX:FRU) announces that its Board of Directors (the “Board”) has declared a dividend of Cdn. $0.015 per common share to be paid on May 15, 2020 to shareholders … Read more

Highwood Oil Company Ltd. Provides Revised 2020 Guidance and Operational Update

April 11, 2020 by EnergyNow Media

April 9, 2020 CNW CALGARY – Highwood Oil Company Ltd. (TSXV:HOCL) (“Highwood” or the “Corporation“) announces revisions to the previously announced 2020 capital budget and an update to operations in 2020. 2020 Capital Budget Given the weakness and uncertainty in today’s future oil price environment and the advent of the COVID-19 outbreak, Highwood has chosen to cease … Read more

Canada telling G20 ministers about domestic energy challenges, says Trudeau

April 11, 2020April 11, 2020 by The Canadian Press

OTTAWA — Prime Minister Justin Trudeau says Canada is working with the G20 to come up with a joint response to falling oil prices amid the COVID-19 crisis.
But Trudeau did not say specifically what Canada may do next to help the sector.
Trudeau says C…

Mexico Says It Made OPEC+ Oil-Output Cuts Deal With Trump

April 11, 2020April 11, 2020 by EnergyNow Media

April 9, 2020 Reuters Canada’s oil-producing province of Alberta has not been asked by OPEC for further crude curtailments to ease a global glut and has made clear to OPEC and the United States it already did its part, Alberta’s premier said on Thursday.The coronavirus pandemic has slashed oil demand as countries shut down much of … Read more

Drillform Offers Automated Floor Wrench Delivery Systems for Specific Rig Floor Requirements

April 11, 2020April 11, 2020 by EnergyNow Media

Drillform is pleased to offer various floor wrench delivery systems to accommodate your specific rig floor requirements. For inquiries contact info@drillform.com or for more information, visit: www.drillform.com Image Gallery:

The Unexpected Holdout to a Global Oil Production Deal

April 10, 2020 by EnergyNow Media

By Amy Stillman, Nacha Cattan and Eric Martin Apr 10, 2020 (Bloomberg) One of the most dramatic global oil production agreements in history has been left hanging on the approval of an unlikely character: Mexican President Andres Manuel Lopez Obrador. For weeks Russia and Saudi Arabia, two energy powerhouses, have been sparring over oil, with their … Read more

In a Profit Black Hole, Canada Dividends Head for Chopping Block

April 10, 2020 by EnergyNow Media

By Divya Balji Apr 10, 2020 (Bloomberg) The stock market is heading into an unprecedented earnings season. With little clue as to how and when the global economy will sputter back to life after its historic thrashing from the coronavirus, companies have pulled profit forecasts and investors are flying blind. Even rare companies that have enjoyed … Read more

Alberta not asked by OPEC to curtail -premier

April 10, 2020April 10, 2020 by EnergyNow Media

Financier predicts new respect for oilpatch as Canada recovers from pandemic

April 10, 2020April 10, 2020 by The Canadian Press

Calgary energy investor Mac Van Wielingen says there’s an opportunity for the oil and gas sector to regain public respect and support when Canada tries to restore its economy after the COVID-19 pandemic ends.
The industry has suffered since global oil…

Innovation and regulatory certainty will be central to restarting Canada’s economy post-COVID-2019 – Stewart Muir and Margareta Dovgal

April 11, 2020April 10, 2020 by EnergyNow Media

Stewart Muir and Margareta Dovgal look at emerging ideas for a strong recovery from the pandemic. Visit Resource Works Society for more articles https://www.resourceworks.com/ A recent paper from David Williams of the Business Council of British Columbia points to Canada’s nagging inability to improve living standards for its residents. Comments Williams: “Once the COVID-19 crisis has passed, … Read more

Even big OPEC++ Cuts Won’t Offset Oil Demand Collapse – Here’s What Analysts Had to Say

April 9, 2020 by EnergyNow Media

April 9, 2020 OPEC and other major oil producers on Thursday discussed potential big output cuts in the face of a huge fall in demand due to the coronavirus crisis.The Organization of the Petroleum Exporting Countries and other producers including Russia, a group known as OPEC+, began a meeting on Thursday, which was expected include … Read more

Climate, clean tech could take centre stage in federal economic recovery plans

April 9, 2020April 9, 2020 by The Canadian Press

OTTAWA — The federal government is quietly looking at a plan for longer-term recovery from the COVID-19 crisis even as its focus remains squarely on getting more than $100 billion in emergency economic aid out the door.
The plan, while still in its in…

Keyera Advances Gathering & Processing Optimization Plan

April 9, 2020 by EnergyNow Media

April 9, 2020 CNW CALGARY – Keyera Corp. (TSX:KEY) (“Keyera”) today announced that it continues to make progress on its gathering and processing optimization plan and plans to suspend operations at four of its gas plants located in west central Alberta. Keyera expects to suspend operations at its Minnehik Buck Lake and West Pembina gas plants in the … Read more

Kelt Provides Update Regarding Its Annual Shareholders Meeting and Provides an Operations Update Including Cost-Cutting Measures

April 9, 2020 by EnergyNow Media

April 9, 2020 Newsfile Calgary, Alberta – Kelt Exploration Ltd. (TSX: KEL) (“Kelt” or the “Company”) announced today that its upcoming Annual Meeting of Shareholders (“Shareholders Meeting”) will now be held at the Company’s head office at Suite 300, 311 Sixth Avenue SW, Calgary, Alberta. The Shareholders Meeting date will continue to be on Wednesday, April … Read more

Oil-producing nations seek global deal to stabilize market

April 9, 2020April 9, 2020 by The Canadian Press

MOSCOW — Oil-producing countries including those of the OPEC cartel and Russia are trying to strike a global deal to pump less crude in a bid to limit a crash in prices that, while welcome for consumers, has been straining government budgets and pushe…

U.S. oil rig count drops to lowest since Dec. 2016 -Baker Hughes

April 9, 2020 by EnergyNow Media

April 9 (Reuters) U.S. energy firms cut oil rigs for a fourth week in a row to the lowest since December 2016 with oil futures down over 50% since the start of the year after Saudi Arabia and Russia cut prices and boosted output in a battle for market share. That price war came at … Read more

Five Things to Know in World Business Today

April 9, 2020 by EnergyNow Media

By Lorcan Roche Kelly Apr 9, 2020 (Bloomberg) Another mammoth jobless number expected, oil producers meet to agree on cuts, and Powell due to speak. Here are some of the things people in markets are talking about today. Claims Weekly jobless numbers, fast becoming the closest-watched economic data point of the coronavirus crisis, are expected to post another multi-million number when … Read more

Oil Rises in Volatile Trading as Production Deal Nears

April 9, 2020 by EnergyNow Media

By James Thornhill and Alex Longley Apr 9, 2020 (Bloomberg) Oil rose but trading was volatile as the world’s top producers inched towards a deal to curb output.Brent futures were higher on the day, but fell sharply by about $2 a barrel on concerns that any deal may not be enough to stem rising inventories. The OPEC+ meeting … Read more

PETRUS RESOURCES ANNOUNCES SECOND QUARTER CAPITAL BUDGET, EXECUTIVE APPOINTMENT AND ANNUAL GENERAL MEETING UPDATE

April 9, 2020 by EnergyNow Media

April 09, 2020 | Source: Petrus Resources Ltd. CALGARY, Alberta, April 09, 2020 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) announces its second quarter 2020 capital budget. With the current volatility in the price of Canadian light oil and natural gas, the Company believes that it is prudent to maintain a … Read more

Clearview Announces Operations Update and December 31, 2019 Corporate Reserves Information

April 9, 2020 by EnergyNow Media

April 8, 2020 CNW CALGARY – Clearview Resources Ltd. (“Clearview” or “the Company”) is pleased to announce its 2019 year end reserves and an operational update in light of the combined impacts of the Coronavirus pandemic and the collapse in energy commodity pricing due to decreased global oil demand and the OPEC+ oversupply situation. HIGHLIGHTS Proved developed producing (“PDP”) … Read more

The Canadian Association of Petroleum Producers outlines recommendations for economic recovery

April 9, 2020 by EnergyNow Media

April 8, 2020 CNW CALGARY – The Canadian Association of Petroleum Producers (CAPP) has been working closely with the federal government to identify important areas for urgent action to help Canada’s energy sector survive the current economic crisis, and other measures needed to support the country’s recovery once the COVID-19 pandemic subsides Through the Government of Canada’s designation of the oil … Read more

COVID-19 plan key part of Keystone XL construction acceleration, says CEO

April 9, 2020April 9, 2020 by The Canadian Press

The CEO of TC Energy Corp. says the company is fine-tuning its plan to guard against the spread of COVID-19 as it moves ahead with site preparation for the US$8-billion Keystone XL Pipeline project.
Russ Girling says crews are working on right-of-way …

Canada’s Energy Sector Will be Key Force in Post-COVID -19 Economic Recovery – CEC

April 9, 2020April 9, 2020 by EnergyNow Media

Updated by Deborah Jaremko on April 8, 2020 Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Getty Images photo Canada’s oil and gas industry is set to navigate dramatic and unprecedented challenges as economies shut down due to the COVID-19 pandemic, while Saudi Arabia and Russia use the … Read more

Navigate the Pandemic with Risk Alive® and DuPont: Process Safety Analytics Technology – For a Sample, Send Your PHA Data Today!

April 9, 2020April 9, 2020 by EnergyNow Media

Falcon Equipment offers support for you, your equipment, and business during these challenging times.

April 10, 2020April 9, 2020 by EnergyNow Media

To Our Valued Customers: We sincerely hope this letter finds you, your family and friends healthy and safe. In this time, it seems the common thread of all discussions is surrounding the Covid-19 virus, the risk that it is to our health, the challenges and hardships it is placing on people and businesses and the … Read more

Canada won’t tip hand on possibility of import tariffs on Saudi oil

April 8, 2020April 8, 2020 by The Canadian Press

OTTAWA — Canada’s energy minister will speak to his U.S. and Mexican counterparts Thursday in a bid to generate a common front ahead of talks by the world’s biggest economies aimed at ending the global oil price wars.
But Deputy Prime Minister Chrysti…

WATCH: Access Granted in Buffalo Creek: See How Paradox Made it Possible With Tough Cell Technology

April 8, 2020April 8, 2020 by EnergyNow Media

Who’s ready to watch a good news story? Paradox Access Solutions recently completed a project for a major energy company in North America that required them to design and build a road over swampy muskeg, during record seasonal rainfall. Not surprisingly, Paradox rose to the challenge, having worked in these conditions many times before. … Read more

Canada’s Energy Industry Steps up During COVID Pandemic – CAPP

April 8, 2020 by EnergyNow Media

Supporting health care workers and those in need part of giving back to Canadian communities. By Holly Quan from Context CAPP Updated on Apr 7, 2020 While all our lives are different as a result of the current pandemic crisis, Canadian companies are coming together and taking a’ Team Canada’ approach to giving back to the community. … Read more

How to Make Your Own Hand Sanitizer

April 8, 2020 by EnergyNow Media

The key ingredients are petroleum-based isopropyl alcohol along with aloe vera gel. Did you know you can make your own hand sanitizer using petroleum-based isopropyl or rubbing alcohol? Don’t pay sky-high prices online for Purrell. Here’s a recipe by Dr. Rishi Desai, chief medical officer of Osmosis, we found on Healthline.com. Hand sanitizer recipe Ingredients: 3/4 … Read more

Landowners and legal experts criticize Alberta’s well cleanup bill

April 8, 2020April 8, 2020 by The Canadian Press

EDMONTON — Landowners and legal experts are criticizing Alberta’s hastily passed new legislation intended to help clean up the province’s huge stockpile of abandoned energy facilities.
The bill, which passed into law in three days last week, gives a g…

Impact of COVID-19 will be more profound than 9/11 attacks: CIBC’s Dodig

April 8, 2020April 8, 2020 by The Canadian Press

TORONTO — COVID-19 will have a more profound impact on the world than the Sept. 11 terrorist attacks on the United States nearly two decades ago, says the chief executive of the Canadian Imperial Bank of Commerce.
Victor Dodig said in an interview tha…

Canadian Natural Resources president OK with Canada joining oil supply pact

April 8, 2020April 8, 2020 by The Canadian Press

The president of Canadian Natural Resources Ltd. says he supports the idea of Canada taking part in an international agreement to reduce production to support global oil prices.
Tim McKay says the solution is acceptable as long as it is “broad-based” …

Reflections on Recovery After a Month of Complete Chaos

April 8, 2020 by EnergyNow Media

By David Yager April 7, 2020 It seems like an eternity, but it was only a month ago when the OPEC+ meeting ended abruptly with no agreement on production cuts. A day later, March 7th , the Kingdom of Saudi Arabia (KSA) declared war on world oil markets by announcing it would increase production and … Read more

COMMENTARY: My Message to Pipeline Protesters: Stop the finger pointing, put Canada first and let’s work together – Cody Battershill

April 8, 2020April 8, 2020 by EnergyNow Media

By Cody Battershill What a difference a couple of weeks make. When I first sat down to write this piece earlier in March, things felt uncertain — but not yet dire — for the Canadian energy sector. As I write today, companies are making tough decisions related to their very survival. Lay-offs are hitting organizations … Read more

Five Things to Know in World Business Today

April 8, 2020 by EnergyNow Media

By Lorcan Roche Kelly Apr 8, 2020 (Bloomberg) White House prepares plan to reopen the economy, EU finance chiefs fail to reach agreement, and grim coronavirus forecasts. Here are some of the things people in markets are talking about today. A plan The Trump administration is developing a plan to get the U.S. economy back on track based on more … Read more

In the Big OPEC++ Output Deal, Who’s In and Who’s Out?

April 8, 2020April 8, 2020 by EnergyNow Media

By Christopher Sell Apr 8, 2020 (Bloomberg) Oil faces a critical week as Saudi Arabia, Russia and other global producers work frantically to secure a deal aimed at stemming the crash in oil prices. The former partners-in-cuts traded barbs over the weekend over who’s to blame for crude’s crash, which led to a virtual meeting being re-scheduled for … Read more

Oil Moves Higher With Impact of Possible Output Cuts in Focus

April 8, 2020 by EnergyNow Media

By James Thornhill and Alex Longley Apr 8, 2020 (Bloomberg) Oil rose as investors weighed whether output cuts being discussed by the world’s top producers will be enough to offset the demand destruction wrought by the coronavirus.Futures in New York climbed around 3% toward $25 a barrel. Saudi Arabia and Russia are hammering out an agreement … Read more

Alberta Premier Kenney Sees Negative Oil Prices, $20 Billion Deficit

April 8, 2020 by EnergyNow Media

By Kevin Orland Apr 7, 2020 (Bloomberg) Alberta Premier Jason Kenney says the combined toll of Covid-19 pandemic, the global economic recession and the collapse in oil prices represent the greatest challenge in the province’s modern history, threatening its main industry and wreaking havoc on its finances. In a televised address on Tuesday, Kenney warned that … Read more

Suncor Debt Spread Triples Amid Alberta’s Calls for Energy Aid

April 8, 2020 by EnergyNow Media

By Esteban Duarte and Kevin Orland Apr 8, 2020 (Bloomberg) Suncor Energy Inc.’s new 10-year bonds show its funding costs have spiked as the Canadian oil company suffers from a historic decline in crude prices. The integrated energy producer sold on Tuesday C$1.25 billion ($893 million) of notes maturing 2030, paying 420 basis points over similar … Read more

Suncor Energy announces $1.25 billion medium term note offering

April 8, 2020 by EnergyNow Media

April 7, 2020 Globe Newswire All financial figures are in Canadian dollars CALGARY, Alberta – Suncor announced today that it will issue $1.25 billion of senior unsecured Series 7 Medium Term Notes due on April 9, 2030 (the “Notes”). The Notes will have a coupon of 5.00% and have been priced at $99.697 per $100 of … Read more

Altura Energy Inc. Provides a Corporate Update

April 8, 2020 by EnergyNow Media

April 7, 2020 CNW CALGARY – Altura Energy Inc. (“Altura”, or the “Corporation”) (TSXV: ATU) announces a voluntary curtailment of production volumes and a revision to its credit facility. The COVID-19 pandemic and the recent actions of OPEC and Russia abandoning production quotas has resulted in an unprecedented decline in crude oil prices. In response to these events Altura is voluntarily … Read more

Empowering Cyber in the ENR space – KPMG

April 8, 2020 by EnergyNow Media

Author: Jeff Thomas, Partner, Advisory Services KPMG in Canada Given the significant impacts of COVID-19 today, it is critical to understand your organization’s vulnerabilities to cyber-attacks, and the impacts that can arise if systems are corrupted. The threat of cyber attacks looms over all Canadian industries, but the stakes are arguably higher in the energy … Read more

XI Technologies: Bill 12 Just Passed – What You Need to Know

April 8, 2020 by EnergyNow Media

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. On Thursday, April 2, 2020, Bill 12: Liabilities Management Statutes Amendment Act, passed … Read more

How to Work Remotely – Workaware

April 8, 2020 by EnergyNow Media

Now obviously there are some professions that are impossible to set up remotely, or they are as remote as they are going to get. Like retail, transport, trades, and public services, etc. You keep doing what you’re doing. You are the backbone of the world, and we know it and we salute you. For us … Read more

Heavy discount edges wider as Canada producers eye cuts

April 8, 2020April 8, 2020 by EnergyNow Media

April 7, 2020 Reuters Canadian heavy crude’s discount widened versus the U.S. benchmark West Texas Intermediate (WTI) oil on Tuesday, as Alberta producers braced for deeper output cuts and doubts grew that OPEC and its allies would agree on a global pact to reduce a supply glut.Western Canada Select (WCS) heavy blend crude for May delivery … Read more

Critical thinking matters amid calls for folding up Canada’s oil & gas sector – Stewart Muir

April 8, 2020 by EnergyNow Media

Resource Works Society By Stewart Muir Renewables-only advocates have seized upon the pandemic as a way to pressure federal politicians into using their powers to deep-six Canada’s domestic oil and gas industry, writes Stewart Muir. Current circumstances offer a once-in-a-lifetime chance to usher in a new era of consequence-free energy drawn from carbon-free sources, or … Read more

Global Energy Show Postpones 2020 Event Due to COVID-19 Pandemic

April 7, 2020 by EnergyNow Media

CALGARY, Alberta: dmg::events announces postponement of its flagship North American event, the Global Energy Show. The annual exhibition and conference were set to host more than 53,000 local and international delegates coming from more than 110 countries around the world and was Canada’s largest B2B tradeshow in 2019. The Global Energy Show has confirmed new … Read more

Work starts in Montana on Keystone XL Canada – US oil pipeline

April 7, 2020April 7, 2020 by The Canadian Press

BILLINGS, Mont. — A Canadian company said Monday that it’s started construction on the long-stalled Keystone XL oil sands pipeline across the U.S.-Canada border, despite calls from tribal leaders and environmentalists to delay the $8 billion project a…

ExxonMobil reduces 2020 capex by 30%, cash opex by 15%; maintains long-term outlook

April 7, 2020 by EnergyNow Media

April 7, 20205:00 AM Business Wire IRVING, Texas – ExxonMobil said today it is reducing its 2020 capital spending by 30 percent and lowering cash operating expenses by 15 percent in response to low commodity prices resulting from oversupply and demand weakness from the COVID-19 pandemic. Capital investments for 2020 are now expected to be about $23 … Read more

Return Energy inc. announces year-end 2019 financial results and reserves

April 7, 2020 by EnergyNow Media

April 7, 2020 Globe Newswire CALGARY, Alberta, April 07, 2020 (GLOBE NEWSWIRE) — Return Energy Inc. (“Return” or the “Company”) (RTN: TSXV) is pleased to provide a summary of its financial and operational results for the three months and year ended December 31, 2019. Selected financial and operational information is outlined below and should be read with Return’s … Read more

Alberta minister says patience running short for federal energy industry aid

April 7, 2020April 7, 2020 by The Canadian Press

Alberta’s energy minister says patience in her province is wearing thin for a promised aid package from the federal government for the oil and gas sector.
Sonya Savage, speaking at the Canadian Association of Petroleum Producers conference, says the i…

Five Things to Know in World Business Today

April 7, 2020 by EnergyNow Media

By Lorcan Roche Kelly Apr 7, 2020 (Bloomberg) China reports no new virus cases, oil powers eye deal to slash output, and markets rally. Here are some of the things people in markets are talking about today. Slowing British Prime Minister Boris Johnson was moved to intensive care yesterday after his condition worsened. Officials said he was receiving oxygen, but … Read more

Oil Edges Higher as Producers Move Toward Deal to Curb Output

April 7, 2020 by EnergyNow Media

By James Thornhill and Alex Longley Apr 7, 2020 (Bloomberg) Oil resumed gains on signs that the world’s biggest producers are moving toward a deal to end their price war and cut output as the coronavirus eviscerates energy demand.Futures in New York rose 3.6% to trade near $27 a barrel. Saudi Arabia and Russia are closing … Read more

Global Oil Powers Close In on Historic Deal to Curb Output

April 8, 2020April 7, 2020 by EnergyNow Media

By Javier Blas and Grant Smith Apr 7, 2020 (Bloomberg) The world’s largest oil producers are hammering out the terms of an unprecedented deal to mitigate the devastating impact of the coronavirus crisis as they prepare for an extraordinary meeting this week.Saudi Arabia and Russia are closing in on an agreement to curb output, which could … Read more

U.S. Shale Drillers Warming to a Once-Unthinkable Idea: a Cap on Oil

April 7, 2020 by EnergyNow Media

By Joe Carroll and Sheela Tobben Apr 7, 2020 (Bloomberg) Some old-guard Texas oil drillers are urging state regulators to clamp down on crude production to halt a price collapse more severe than any of them have ever lived through.The largest U.S. oil-producing state hasn’t restricted crude production in almost 50 years but a growing chorus of explorers … Read more

Business Continuity for Pipeline Integrity Management – OneBridge Solutions

April 7, 2020 by EnergyNow Media

Even when the world is at a standstill, operators can’t put pipeline safety on hold. There’s too much riding on it. In just the few short weeks since COVID-19 morphed from the global lexicon to the Americas and other areas of the world, integrity management teams have been forced to digitally transform both how and … Read more

Group of First Nations want to launch fight of Trans Mountain pipeline approval

April 7, 2020April 7, 2020 by The Canadian Press

VANCOUVER — A group of British Columbia First Nations says it will appeal a decision on the the Trans Mountain pipeline expansion project to the Supreme Court of Canada.
The Squamish Nation, Tsleil-Waututh Nation and Coldwater Band say they have fough…

Trican Well Service cuts jobs, salaries as low oil prices stall drilling plans

April 7, 2020April 7, 2020 by The Canadian Press

CALGARY — Trican Well Service Ltd. says it has cut its employee costs by half through salary reductions, layoffs and job sharing in reaction to a severe slowdown in drilling activity due to low oil prices.
The Calary-based company, which offers hydrau…

Enbridge running Mainline with unused space as Canada cuts oil output

April 6, 2020 by EnergyNow Media

April 6, 2020 Reuters Pipeline company Enbridge Inc is running North America’s biggest oil pipeline network, the Mainline, with unused capacity as Canadian producers cut output due to the spread of coronavirus and low prices, a senior executive said. “Right now we’re going to see as much production turned down as possible in western Canada,” said … Read more

Russia and Saudi ‘very close’ to oil deal, Moscow envoy says

April 6, 2020 by EnergyNow Media

April 6, 2020 Reuters Russian President Vladimir Putin with Saudi Arabian King Salman bin Abdulaziz al-Saud Saudi Arabia and Russia are close to a deal on oil output cuts to reduce a global glut, a top Russian oil negotiator said on Monday, but details such as how to share out production curbs remained unclear ahead of … Read more

Oilfield firm Halliburton cuts more U.S. jobs as oil bust deepens

April 6, 2020 by EnergyNow Media

April 6, 2020 Reuters Oilfield services firm Halliburton on Monday was cutting about 350 employees in Oklahoma, according to a filing with the state, amid a deepening oil bust from the spread of coronavirus and a price war between Russia and Saudi Arabia. Staff cuts could begin this week at its Duncan, Oklahoma facility, the filing … Read more

Athabasca Oil to shut down Hangingstone SAGD oilsands project and cut staff

April 6, 2020 by EnergyNow Media

April 6, 2020 The Canadian Press CALGARY – Athabasca Oil Corp. is suspending operations at its Hangingstone SAGD oilsands operation due to the drop in oil prices and the COVID-19 pandemic. The company says it’s also reducing its corporate staff by 15 per cent The shutting down of Hangingstone involves shutting in the well pairs and … Read more

Parkland provides update on Burnaby refinery turnaround

April 6, 2020 by EnergyNow Media

April 06, 2020 | Source: Parkland Fuel Corporation CALGARY, Alberta, April 06, 2020 (GLOBE NEWSWIRE) — Parkland Fuel Corporation (“Parkland”, “we”, the “Company”, or “our”) (TSX:PKI) announced today that we are nearing completion of the required work for the 2020 Burnaby refinery turnaround and have begun the startup sequence for the facility. We expect an approximate two-week … Read more

Oil Negotiators Race for Pact With U.S. Role in Balance

April 6, 2020April 6, 2020 by EnergyNow Media

By Javier Blas and Henry Meyer Apr 6, 2020 (Bloomberg) Saudi Arabia, Russia and other large oil producers are racing to negotiate a deal to stem the historic price crash as diplomats said some progress was made on Sunday.The talks still face significant obstacles: a meeting of producers from OPEC+ and beyond — delayed once — … Read more

Oil Pares Loss as Investors Weigh Chance of Price-War Truce

April 6, 2020 by EnergyNow Media

By Elizabeth Low and Alex Longley Apr 6, 2020 (Bloomberg)Oil pared losses amid signs that Saudi Arabia and Russia are making progress toward an agreement to curb crude output as the coronavirus wreaks havoc on the global economy.Futures fell 3.3% in New York, having earlier plunged 11%. Large oil-producing nations are racing to negotiate a deal to … Read more

Five Things to Know in World Business Today

April 6, 2020 by EnergyNow Media

By Lorcan Roche Kelly Apr 6, 2020 (Bloomberg)Trump sees signs of a peak in U.S. outbreak, oil producers set to meet, and stocks rally. Here are some of the things people in markets are talking about today. Light at the end of the tunnel President Donald Trump said he is seeing signs that the coronavirus outbreak … Read more

Parkland Fuel nears completion of maintenance work at B.C. refinery

April 6, 2020April 6, 2020 by The Canadian Press

CALGARY — Parkland Fuel Corp. says it is close to finishing the maintenance work at its refinery in Burnaby, B.C.
The Calgary-based company says it has begun the startup sequence at the facility.
Parkland expects to take about two-weeks to reach full …

Scovan hosts International Women’s Day to Highlight Female Leaders in the Energy Industry – Watch the Highlights

April 6, 2020 by EnergyNow Media

Scovan Engineering hosted International Women’s Day Forum on March 9, 2020 to celebrate women’s achievements, to raise awareness against biases, and take action for equality. The event highlighted a few of Calgary’s most prominent female energy leaders to share their knowledge, strategies and experience on how to accelerate positive organizational changes and professional development. Thank you … Read more

Flame Front Technology as Applied to Piping Systems – WESTECH

April 6, 2020 by EnergyNow Media

An unconfined atmospheric ignition of a gallon of gasoline on the ground produces a startling flame, strong pressure waves and a loud sound. When this same rapidly expanding combusted vapour is confined in a pipe, the flame front and pressure wave start travelling in the direction of the unburned gas. The combusted vapour expands to … Read more

Cash Flow Solutions from CapitalNow

April 6, 2020 by EnergyNow Media

Our name says it all, Capital Now! Our aim is to assist as many people as we can. Have you heard of invoice financing before? Are you tired of waiting to get paid for work you’ve already completed? Do you need cash flow to pay your bills, pay your staff or even yourself? We are … Read more

GLJ Petroleum Consultants’ April Pricing Forecast – A Shift in Dynamics

April 6, 2020 by EnergyNow Media

GLJ_NewHire_Dr. Erfan Sarvaramini_Energy Now_400x270_181112_FINAL

By Justin Mogck. The first quarter of 2020 has abruptly brought the oil industry to its knees; with historic occurrences resulting in the lowest prices since 2002. Coronavirus Demand Impact The global coronavirus pandemic is having major effects on markets as entire countries are put on lockdown, disallowing travel and stopping all non-essential business. Refineries … Read more

TECHNICAL PAPER: Effective Filtration on the Suction Side of Pumps – Black Powder Solutions

April 6, 2020 by EnergyNow Media

Click here to download the report The impact of particulate solids on hydrocarbon liquid pump performance, maintenance and longevity is an extensive topic and the subject of much discussion. So is the subject of effective particulate control in pump applications. Examples of particulate impacts, including black powder contamination impacts, on differing types of pumps abound, … Read more

Lack of Clear Federal Help for Canada’s Energy Industry Becoming Frustrating & Just Talk

April 6, 2020April 6, 2020 by The Canadian Press

OTTAWA — Canada’s oil producers could only sit and watch as the price of their product plummeted last month to less than what it costs to buy a litre of soda, hit by the double whammy of a COVID-19-induced drop in global demand and a production war be…

Saudi Arabia, Russia Push Negotiations for Global Oil Pact that includes the U.S.

April 5, 2020April 5, 2020 by EnergyNow Media

By Javier Blas and Henry Meyer Apr 5, 2020 (Bloomberg) Saudi Arabia, Russia and other oil large producers are racing to negotiate a deal to stem the historic price rout, as diplomats pressed to get the U.S. to join the coalition.“President Putin and the Russian side in general are keen to engage in constructive negotiations, which … Read more

OPEC+ Meeting Delayed on New Saudi, Russia Rift

April 4, 2020 by EnergyNow Media

By Zaid Sabah, Grant Smith and Javier Blas Apr 4, 2020 (Bloomberg) OPEC+ delayed a meeting aimed at ending the oil price war, as Riyadh and Moscow trade barbs about who’s to blame for the collapse in oil prices.The alliance is tentatively aiming to hold the virtual gathering on April 9 instead of Monday as it … Read more

Norway May Join Oil Output Cuts for First Time Since 2002

April 4, 2020 by EnergyNow Media

By Mikael Holter Apr 4, 2020 (Bloomberg) Norway, the biggest oil producer in western Europe, said it would consider cutting its output if there was a broad international agreement to curb supply.The Nordic nation, whose oil output is set to grow over the next few years, hasn’t been a part of coordinated international cuts to support … Read more

Athabasca Suspends Canada Oil-Sands Operation on Low Prices

April 3, 2020 by EnergyNow Media

By Michael Bellusci Apr 3, 2020 (Bloomberg) Athabasca Oil Corp. fully suspended its Hangingstone oil sands operation to combat low oil prices and uncertainty surrounding coronavirus.The move comes shortly after Athabasca said in March it would curtail production at Hangingstone by about 50% to maximize corporate funds flow and liquidity. Calls have been mounting for Canadian producers to … Read more

Garneau revises speed-limit rules for trains carrying dangerous goods

April 3, 2020April 3, 2020 by The Canadian Press

OTTAWA — Transport Minister Marc Garneau is entrenching lower speed limits for trains hauling large amounts of crude oil or liquefied gas through urban areas, but relaxing the definition of “higher risk” trains that are subject to the stricter rules.
…

WATCH: Not Adding Up: First Nations Leader Chris Sankey Warns Prosperity in Peril – Regulator Watch

April 3, 2020 by EnergyNow Media

Just over a month ago, it appeared radical environmental activists were close to achieving a long-sought goal: to #ShutdownCanada by strangling the energy and resource sector into oblivion. Across the country, protests erupted and blockades were erected, paralyzing Canada’s national transportation system, in support of the Wet’suwet’en hereditary chiefs who call for the cancellation of … Read more

Putin Echoes Trump’s Call for Oil Producers to Cut Output

April 3, 2020 by EnergyNow Media

By Irina Reznik, Olga Tanas, Henry Meyer and Ilya Arkhipov Apr 3, 2020 (Bloomberg) Russian President Vladimir Putin said his country is prepared to take part in deep cuts in oil production together with Saudi Arabia and other major producers to halt the slide in prices, echoing an announcement by his U.S. counterpart Donald Trump.“We are … Read more

U.S. drillers cut most oil rigs in a week since 2015: Baker Hughes

April 3, 2020 by EnergyNow Media

(Reuters) – U.S. energy companies reduced the number of active oil rigs for a third week in a row in their biggest weekly cut in five years as they slashed spending on new drilling due to a coronavirus-related slump in economic activity and fuel demand. Drillers cut 62 oil rigs in the week to April … Read more

Canada Weekly Rig Count Down 13 for Week Ending April 3, 2020

April 3, 2020 by EnergyNow Media

Canada’s drilling rig count is down 13 actively drilling rigs according to data collected by Baker Hughes for the week ending April 3, 2020. From one week ago, Alberta rig counts decreased 15 to 29 and the Saskatchewan rig counts stayed at 1. Oil drilling decreased 9 to 9 and gas decreased 4 to 32. … Read more

Athabasca Oil to shut down Hangingstone SAGD oilsands project and cut staff

April 3, 2020 by The Canadian Press

CALGARY — Athabasca Oil Corp. is suspending operations at its Hangingstone SAGD oilsands operation due to the drop in oil prices and the COVID-19 pandemic.
The company says it’s also reducing its corporate staff by 15 per cent
The shutting down of Han…

PetroFrontier Corp. Announces Proposed Funding Update

April 3, 2020 by EnergyNow Media

April 3, 2020 Newsfile Calgary, Alberta – PetroFrontier Corp. (TSXV: PFC) (“PetroFrontier” or the “Company“) announces the following: Previously Announced Proposed Funding PetroFrontier advises that the parties involved in the proposed funding transaction announced on October 10, 2019 (the “Proposed Funding“) have formally terminated their discussions pertaining to completing the Proposed Funding. Subject to the approval … Read more

Five Things to Know in World Business Today

April 3, 2020 by EnergyNow Media

By Lorcan Roche Kelly Apr 3, 2020 (Bloomberg) More virus restrictions and stimulus, OPEC+ set to meet, and European PMIs are dismal. Here are some of the things people in markets are talking about today. 1 million The growth in the number of coronavirus cases globally shows little sign of slowing with the reported total passing 1 million yesterday, … Read more

OPEC+ Urges Global Cut to Stem Rout as Russia Ready to Move

April 3, 2020 by EnergyNow Media

By Grant Smith, Javier Blas and Olga Tanas Apr 3, 2020 (Bloomberg) The OPEC+ coalition is pressing other oil producers to join a deep reduction in global crude output and stem a historic price crash, as Russia’s energy industry signaled it is ready to move.Oil surged on the prospect that an idea first touted by U.S. … Read more

Russian Producers Ready for Oil Cuts to Stop Price Rout

April 3, 2020 by EnergyNow Media

By Irina Reznik, Olga Tanas, Henry Meyer and Ilya Arkhipov Apr 3, 2020 (Bloomberg) Russia’s oil industry is ready to agree to cuts in production together with Saudi Arabia and other major producers in a desperate bid to halt the slide in prices, according to five people familiar with the efforts.While the Kremlin hasn’t confirmed a … Read more

THE SHUT & SWAP IDEA – Ottawa Could Buy Alberta Oil to Rescue Canadian Energy Industry, RBC Says

April 3, 2020 by EnergyNow Media

By Michael Bellusci Apr 2, 2020 (Bloomberg) As Canada’s oil producers wait for a bailout to aid the hurting sector, one research firm has a suggestion: Sell crude to the government. RBC Capital Markets said that an aid package could allow companies that shut in production to sell barrels of oil that they’re not producing to … Read more

Energy Industry in Canada Needs $20 Billion in Aid, Kenney Says

April 3, 2020April 3, 2020 by EnergyNow Media

By Kevin Orland Apr 2, 2020 (Bloomberg) The Canadian energy industry needs more than C$20 billion (US$14.1 billion) in aid from the federal government as the Covid-19 pandemic and Saudi-Russian oil price war ravage global crude prices, Alberta Premier Jason Kenney said Thursday. Canadian oil and gas producers need “an emergency injection of liquidity” as a … Read more

World Oil Surges as Producers Eye 10 Million Barrel a Day Output Cut

April 3, 2020 by EnergyNow Media

By Alex Longley Apr 3, 2020 (Bloomberg) Oil jumped more than 16% in London as OPEC+ scheduled an urgent meeting next week to try and stem the crude market’s rout, with an output cut of 10 million barrels a day of global production being discussed.The coalition will hold a meeting of its members by video conference on Monday. … Read more

Parex Provides a Business Update in Response to COVID-19

April 3, 2020 by EnergyNow Media

April 02, 2020 | Source: Parex Resources Inc. CALGARY, Alberta, April 02, 2020 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX:PXT), a company headquartered in Calgary, Alberta and focused on Colombian oil exploration and production, announces measures to protect the Company’s financial strength in response to the significant decrease in global energy prices … Read more

Athabasca Oil Corporation takes further actions in response to the current environment

April 3, 2020 by EnergyNow Media

April 2, 2020 Globe Newswire CALGARY – Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is taking further immediate actions in response to the significant decline in global oil prices to bolster balance sheet strength and corporate resiliency. Shut-in of Hangingstone Asset Due to the significant decline in oil prices combined with the economic uncertainty … Read more

MUST WATCH: Speaking in Support of the Keystone XL Pipeline & Canadian Energy | Jason Kenney

April 3, 2020April 3, 2020 by EnergyNow Media

Alberta Premier Jason Kenney speaking in support of Alberta’s investment in the Keystone XL Pipeline. Shovels are in the ground, construction has started. “We will never surrender Canada’s energy industry to OPEC dictatorships and foreign special interests that have sought to landlock our oil and gas.”

$359 Billion: What Canada’s energy sector paid governments from 2000 to 2018

April 3, 2020 by EnergyNow Media

Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Updated by Mark Milke and Lennie Kaplan This Fact Sheet details the direct contributions Canada’s energy sector made to federal and provincial revenues between 2000 and 2018, conservatively estimated at $359 billion. That figure includes almost $240 billion in direct provincial … Read more

Heavy discount widens amid talk of Saudi-Russia production cut

April 2, 2020 by EnergyNow Media

April 2, 2020 Reuters Canadian heavy crude’s discount widened modestly versus the U.S. benchmark West Texas Intermediate (WTI) oil on Thursday, as global prices soared on U.S. talk of Russia and Saudi Arabia making a major production cut.Western Canada Select (WCS) heavy blend crude for May delivery in Hardisty, Alberta, traded at $16 per barrel below … Read more

Alberta open to potential global oil cut deal -Premier

April 2, 2020 by EnergyNow Media

April 2, 2020 Reuters The Canadian province of Alberta, home to the world’s third-largest oil reserves, is open to joining any potential global pact to reduce a glut of crude production, Premier Jason Kenney told Reuters on Thursday.“We would certainly look at it, but really it’s the Saudis and the Russians here who are the problem, … Read more

Industry Delivering Energy Safely During COVID-19 Health Crisis — “Now More Than ever” – CEC

April 2, 2020 by EnergyNow Media

Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Updated by Grady Semmens on April 2, 2020 Photograph courtesy Canadian Energy Pipeline Association Thousands of women and men across the country are doing their part during the COVID-19 health crisis to ensure the energy that fuels Canadian communities continues to … Read more

Oil Soars After Trump Says Saudis and Russia Will Cut Production

April 2, 2020 by EnergyNow Media

By Catherine Ngai and Alex Longley Apr 1, 2020, 4:26 PM – Updated on Apr 2, 2020, 10:12 AM Word Count: 678 (Bloomberg) —Oil soared after U.S. President Trump said that he expects Saudi Arabia and Russia to cut output back by 10 million barrels or more after he spoke with Crown Prince Mohammed Bin Salman. … Read more

Trump says oil output cut could be more than 10 mln bbls

April 2, 2020 by EnergyNow Media

April 2, 2020 Reuters U.S. President Donald Trump U.S. President Donald Trump on Thursday said he had spoken to Saudi crown prince Mohammed bin Salman and that he expects Saudi Arabia and Russia to cut oil output by as much as 15 million barrels per day, as the two countries signaled willingness for a deal.In a … Read more

Alberta suspends environmental reporting requirements over COVID crisis

April 2, 2020 by The Canadian Press

EDMONTON — Alberta has suspended environmental reporting requirements for industry.
The move comes in a ministerial order signed on Tuesday by Environment Minister Jason Nixon.
It says the suspension is authorized by the state of public health emergen…

Five Things to Know in World Business Today

April 2, 2020 by EnergyNow Media

By Lorcan Roche Kelly Apr 2, 2020 (Bloomberg) Mammoth jobless claims data expected, China rejects U.S. charge on virus numbers, and finally some good news for oil. Here are some of the things people in markets are talking about today. Millions Weekly jobless claims numbers due 8:30 a.m. Eastern Time are expected to show another record high with the median expectation … Read more

Oil Rebounds on China’s Crude Buying and Trump’s Diplomatic Push

April 2, 2020 by EnergyNow Media

By Sharon Cho and Alex Longley Apr 2, 2020 (Bloomberg)Oil surged in London as China planned to start buying up cheap crude for its strategic reserves, while the U.S. president said he thought Saudi Arabia and Russia would resolve their differences to ease the price war.Brent futures rose as much as 13% as Beijing instructed government agencies … Read more

China to Start Buying Oil for State Reserves After Crash

April 2, 2020 by EnergyNow Media

By Bloomberg News Apr 2, 2020 (Bloomberg) China is moving forward with plans to buy up oil for its emergency reserves after an epic price crash, according to people with knowledge of the matter.The world’s biggest importer is taking advantage of a 60% plunge this year to snatch up cheaper barrels for its stockpiles, a source … Read more

Massive New Mine Could Be Oil-Sands’ First Big Price War Victim

April 2, 2020 by EnergyNow Media

By Kevin Orland and Robert Tuttle Apr 1, 2020 (Bloomberg) The last major oil-sands mine to start operating in northern Alberta could be Canada’s first big casualty of the Saudi-Russian price war and the Covid-19 pandemic. Teck Resources Ltd., one of the partners in the Fort Hills project that formally opened in September 2018, is considering a full … Read more

TC Energy Completes Big Bond Deal After Getting Help From Alberta

April 2, 2020 by EnergyNow Media

By Esteban Duarte Apr 1, 2020 (Bloomberg) TC Energy Corp. sold the biggest non-financial corporate bond in loonies so far this year in a fresh sign the Canadian credit market is following its U.S. counterpart back to life amid massive central bank intervention. Calgary-based TC Energy issued C$2 billion ($1.41 billion) of seven-year bonds one day … Read more

The Oil Market Crash Is Starting to Claim Victims Across North America

April 2, 2020 by EnergyNow Media

By Joe Carroll Apr 1, 2020 (Bloomberg) The unprecedented collapse in global oil markets is wreaking havoc in all corners of the North American crude industry, pushing shale drillers, deepwater-equipment haulers and oil-sand miners to desperate measures.In the space of less than an hour on Wednesday, a former high-flying shale operator and an offshore transport company … Read more

PRECISION DRILLING ANNOUNCES FILING OF MANAGEMENT INFORMATION CIRCULAR, VIRTUAL-ONLY ANNUAL AND SPECIAL SHAREHOLDER MEETING AND PROPOSED SHARE CONSOLIDATION

April 2, 2020 by EnergyNow Media

April 01, 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

TSX SYMBOL: ZAR ZARGON OIL & GAS LTD. ANNOUNCES TERMINATION OF FINANCING AGREEMENT AND SALE OF US SUBSIDIARIES

April 2, 2020 by EnergyNow Media

April 02, 2020 | Source: Zargon Oil & Gas Ltd. CALGARY, Alberta, April 02, 2020 (GLOBE NEWSWIRE) — Zargon Oil & Gas Ltd. (“Zargon” or the “Company”) announces that it has entered into an agreement to settle its US$3.05 million term debt through the sale of its US subsidiaries for nominal proceeds and the release of the Company … Read more

Cenovus Energy provides corporate update

April 2, 2020 by EnergyNow Media

April 02, 2020 | Source: Cenovus Energy Inc CALGARY, Alberta, April 02, 2020 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) is implementing additional measures to enhance its financial resilience in response to the low global oil price environment that is expected to continue for an unknown period. The company’s financial framework and flexible … Read more

STEP Energy Services Ltd. Corporate Update

April 2, 2020 by EnergyNow Media

April 02, 2020 | Source: STEP Energy Services Ltd. CALGARY, Alberta, April 02, 2020 (GLOBE NEWSWIRE) — STEP Energy Services Ltd. (the “Company” or “STEP”) is providing an update on actions taken in response to the COVID-19 pandemic (“COVID-19”), and current market conditions. The following press release should be read in conjunction with the management’s discussion … Read more

Yangarra provides operations update

April 2, 2020 by EnergyNow Media

April 1, 2020 CALGARY – Yangarra Resources Ltd. (“Yangarra” or the “Company”) (TSX:YGR) provides an operations update. As a result of the COVID-19 pandemic, Yangarra has implemented a number of actions to reduce the risk of spread amongst our valuable employee team. The Company’s Calgary office has been reduced to two people with the remainder of the team working remotely … Read more

Oilpatch workers face pay cuts and layoffs as companies react to low prices

April 2, 2020April 2, 2020 by The Canadian Press

CALGARY — Budget cuts in the western Canadian oil and gas sector are hitting home for front-line workers who are facing smaller paycheques as well as an ever-increasing risk of being laid off.
On Thursday, oilsands producer Cenovus Energy Inc. respond…

Schachter’s Eye on Energy: Potentially the last major market plunge has started. Get your BUY list ready.

April 2, 2020April 2, 2020 by EnergyNow Media

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

G & B Portable Fabric Buildings Offers the Best of Both Worlds With New Rental Program

April 2, 2020 by EnergyNow Media

When it comes to your company’s temporary storage needs, a short-term solution shouldn’t require a long-term investment. Thanks to a new rental program from G & B Portable Fabric Buildings, it doesn’t. Founded back in 1995, G & B is one of the original companies responsible for the concept and development of portable fabric structures … Read more

Oil Storage Tanks Are Filling Up, Making Production Cuts ‘Inevitable’ in Canada

April 2, 2020April 2, 2020 by EnergyNow Media

By Michael Bellusci Apr 1, 2020 (Bloomberg) Rock-bottom prices for Canadian oil and a lack of demand are setting the stage for “inevitable” production cuts, according to Goldman Sachs, which says the industry could run out of storage space within weeks. Landlocked Canadian crude could see prices go negative — meaning producers would pay customers to take … Read more

Heavy discount widens as monthly trading cycle begins

April 2, 2020April 2, 2020 by EnergyNow Media

Cenovus selling Pelican Lake operations to Canadian Natural for $975 million

April 1, 2020 Canadian heavy crude’s discount widened versus U.S. benchmark West Texas Intermediate (WTI) oil on Wednesday, the first day of the monthly trading cycle.Western Canada Select (WCS) heavy blend crude for May delivery in Hardisty, Alberta, traded at $16.65 per barrel below WTI, according to NE2 Canada Inc, wider than Tuesday’s settle of … Read more

Canada energy firms fret as Ottawa labors over promised aid package

April 2, 2020April 2, 2020 by EnergyNow Media

April 1, 2020 Reuters A government aid package for struggling Canadian energy firms has run into weeks of delays, in part because officials are still trying to obtain up-to-date data, according to three sources familiar with the matter. The oil and gas sector in the western province of Alberta, home to the world’s third-largest crude reserves, … Read more

Trump says he expects Saudi-Russia oil production deal in coming days

April 2, 2020April 2, 2020 by EnergyNow Media

April 1, 2020 Reuters U.S. President Donald Trump said on Wednesday he expected Saudi Arabia and Russia to reach a deal in the next few days on oil production to end a price war that has “ravaged” the oil industry worldwide.“I think that they will work it out over the next few days. … Both know … Read more

Perpetual Energy Inc. Announces Strategic Transaction, Credit Facility Update and 2020 Outlook

April 1, 2020 by EnergyNow Media

April 1, 2020 CNW CALGARY – (TSX: PMT) Perpetual Energy Inc. (“Perpetual” or the “Company”) is pleased to announce that it has sold a 50% working interest in its East Edson property for consideration consisting of $35 million in cash and the carried interest funding of the Company’s remaining 50% working interest share in an eight-well drilling program (the “East Edson Transaction”). Concurrent … Read more

Briko Energy Announces its 2019 Year-End Reserves and Complementary Acquisition Update

April 1, 2020 by EnergyNow Media

April 1, 2020 Newsfile Calgary, Alberta – Briko Energy Corp. (“Briko” or the “Corporation”) is pleased to announce its 2019 year-end reserves and Complementary Acquisition update. 2019 Reserve Highlights Proved (“1P”) reserves increased 6% to 2.4 million barrels of oil equivalent (“BOE”) at December 31, 2019 compared to 2.3 million BOE at December 31, 2018; Proved … Read more

CAODC calls Alberta Government investment in Keystone XL a “shot of adrenalin”.

April 1, 2020April 1, 2020 by EnergyNow Media

The Canadian Association of Oilwell Drilling Contractors believes the Alberta Government’s $1.5 billion investment in the Keystone XL pipeline and $6 billion loan guarantee for TC Energy to backstop the project are a shot of adrenalin for Canada’s struggling oil and gas sector. It is expected that the injection of funds from the province will … Read more

Five Things to Know in World Business Today

April 1, 2020 by EnergyNow Media

By Lorcan Roche Kelly Apr 1, 2020 (Bloomberg) Trump warns of painful two weeks, bank shares slump on dividend halt, and Saudi Arabia moves ahead on plan to flood oil market. Here are some of the things people in markets are talking about today. Reality sets in There was a notable change in tone from President Donald Trump when he addressed … Read more

PETRUS RESOURCES ANNOUNCES TERMINATION OF PREVIOUSLY ANNOUNCED DISPOSITION AND OPERATIONS UPDATE

April 1, 2020 by EnergyNow Media

April 01, 2020 | Source: Petrus Resources Ltd. CALGARY, Alberta, April 01, 2020 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) announces the termination of its previously announced disposition of its oil and natural gas interests in the Foothills area (the “Disposition”). Petrus has been advised in writing by the purchaser that … Read more

Trump Says World’s Biggest Oil Producers to Meet on Market Crash

April 1, 2020 by EnergyNow Media

By Justin Sink and Brian Eckhouse Apr 1, 2020 (Bloomberg) President Donald Trump said the U.S. would meet with Saudi Arabia and Russia with the goal of stanching an historic plunge in oil prices.Trump, speaking at the White House Tuesday, said he’s raised the issue in conversations with Russian President Vladimir Putin and Saudi Crown Prince … Read more

Oil Holds Above $20 as Saudi Output Surges, Russia’s Won’t Rise

April 1, 2020 by EnergyNow Media

By Alex Longley Apr 1, 2020 (Bloomberg) Oil held near $20 a barrel as Saudi Aramco’s output surged above 12 million barrels a day, but Russia said it would refrain from further production hikes.Crude futures in New York were little changed Wednesday, following a record decline in the first quarter. While state-run Aramco’s oil supply … Read more

Hit by Twin Shocks, Canadian Markets Face Treacherous Recovery

April 1, 2020 by EnergyNow Media

By Divya Balji, Susanne Barton and Paula Sambo Apr 1, 2020 (Bloomberg)In a span of about six weeks, Canadian stocks posted their swiftest ever descent from bull to bear market, the loonie tumbled, corporate credit spreads sprang to the widest since 2009 and liquidity all but vanished at times. The head-spinning quarter has left Canadian … Read more

Westech Industrial: Essential Services Announcement for Ontario and Quebec

April 1, 2020 by EnergyNow Media

Essential Services Dear Valued Customers and Partners, Following the announcements made on March 23, 2020, by the Ontario and Quebec governments in regards to the closure of all non-essential businesses, Westech can confirm that we will continue to operate and remain open to serve our customers who are considered essential services. As a product and … Read more

KPMG: Resilience in Energy – Collective action to weather the storm.

April 1, 2020 by EnergyNow Media

By Michael McKerracher, Partner, National Industry Leader, Energy and Natural Resources KPMG in Canada These are unprecedented times! Our industry has some unparalleled obstacles to overcome. The COVID19 pandemic is creating remarkable demand destruction, which is something I have not seen in my 30 years in the industry. In addition, the breakdown of OPEC+ has … Read more

XI Technologies: What can the oil and gas industry do while waiting for the next “new normal”?

April 1, 2020 by EnergyNow Media

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. With our industry currently dealing with the dual challenges of physical distancing due … Read more

PM, Scheer among MPs to donate pay hike to charities during COVID-19 crisis

April 1, 2020April 1, 2020 by The Canadian Press

OTTAWA — Prime Minister Justin Trudeau and Conservative Leader Andrew Scheer are among the MPs who are promising to donate an automatic increase in their salaries to charity, as the COVID-19 pandemic ravages the economy and puts thousands of Canadians…

Alberta pipeline spending shows need to fix Canada’s regulatory system: Taxpayers Federation – CTF

April 1, 2020April 1, 2020 by EnergyNow Media

Tuesday, March 31, 2020 Calgary, AB: The Canadian Taxpayers Federation is highlighting the need to fix Canada’s regulatory system so job creators can build pipelines without relying on taxpayers. “Politicians needs to get their act together so we can get big projects built and taxpayers aren’t put on the hook for pipelines,” said Franco Terrazzano, Alberta … Read more

New Trump mileage standards to gut Obama climate effort

April 1, 2020April 1, 2020 by The Canadian Press

WASHINGTON — President Donald Trump is poised to roll back ambitious Obama-era vehicle mileage standards and raise the ceiling on damaging fossil fuel emissions for years to come, gutting one of the United States’ biggest efforts against climate chang…

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