Canada’s drilling rig count is down 1 actively drilling rigs according to data collected by Baker Hughes for the week ending May 29, 2020. From one week ago, Alberta rig counts stayed at 10 and the Saskatchewan rig counts stayed at 2. Oil drilling decreased 1 to 7 and gas stayed at 13. The Canadian … Read more
May 29, 2020 Globe Newswire CALGARY, Alberta – InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) announces an extension of its annual borrowing base redetermination. InPlay and its banking syndicate have agreed to extend the date for completion of the annual borrowing base redetermination from May 31, 2020 to June 30, 2020. … Read more
May 29, 2020 CALGARY, Alberta – Cequence Energy Ltd. (“Cequence” or the “Company”) (TSX: CQE) announces that it has commenced a strategic process to identify and pursue potential strategic options and alternatives to maximize the value for its stakeholders, which will be carried out under the Companies’ Creditors Arrangement Act (“CCAA”). The strategic process will explore a … Read more
May 29, 2020 CALGARY – Highwood Oil Company Ltd., (“Highwood” or the “Company“) (TSXV: HOCL) is pleased to announce financial and operating results for the quarter ended March 31, 2020. The Company also announces that its unaudited financial statements and associated Management’s Discussion and Analysis (“MD&A“) for the quarter ended March 31, 2020, can be found at www.sedar.com and www.highwoodoil.com. Highlights … Read more
May 31, 2020 Reuters Russia has no objection to the next meeting of OPEC and its allies, known as OPEC+, being brought forward to June 4 from the following week, three OPEC+ sources familiar with the meeting’s preparations told Reuters on Sunday.Algeria, which currently holds the presidency of the the Organization of the Petroleum Exporting Countries … Read more
About EnviroExpo EnviroExpo is a virtual webinar conference that allows industry professionals and members of the public the ability to access world class presentations from home. With current world events cancelling many conferences, workshops, seminars and more; the need for a virtual conference could not be greater. This free event is for people in the … Read more
When Wednesday, June 3 at 1:30 p.m. MDT Duration: 90 mins About World oil prices have collapsed, brought on by a combined effect of the global response to COVID 19 and a short lived and disruptive OPEC production increase resulting in powerful implications for the future of global energy markets – is this the beginning … Read more
REGINA — For Dean Funke, getting hired at Regina’s Co-op oil refinery felt like winning the lottery.
“For a blue-collar worker, you can’t get better than the refinery. And it’s always been that way,” he told The Canadian Press.
Born and raised in Sask…
May 28, 2020 Reuters While vast cuts by producer countries and renewed fuel consumption from easing coronavirus lockdowns may soon rebalance oil supply and demand, some analysts and traders see a glut in storage keeping the market in contango for much longer.A contango market structure means the current value is lower than it will be in … Read more
OTTAWA — Representatives from Canada’s oilpatch say they don’t know of a single energy company that has yet benefited from any of Ottawa’s COVID-19-inspired loan programs.
Several company owners and industry advocates are painting a grim picture of th…
Updated by Mark Milke Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A family walks past a banner showing Saudi Crown Prince Mohammed bin Salman, outside a mall in Jiddah, Saudi Arabia. (Associated Press Photo/Amr Nabil) One of the more bizarre reactions to bare facts showed up recently after a colleague … Read more
As you may have heard, recently, GDM Pipelines released 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 easily create system diagrams that represent your entire network of assets. With it, you can… Speed up diagram creation using … Read more
ST. JOHN’S, N.L. — Suncor Energy officials say a fire onboard the Terra Nova Floating Production Storage and Offloading vessel Saturday morning has been extinguished.
Spokeswoman Jessica Depencier says emergency teams responded immediately.
She says t…
Published by Tom Olsen Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Stacks of pipe prepared for the proposed Keystone XL pipeline, sit in a lot outside Gascoyne, North Dakota. Getty Images photo In the midst of the COVID-19-caused economic decline and huge job losses, it’s unfortunate that … Read more
May 29, 2020 Newsfile Calgary, Alberta – Briko Energy Corp. (“Briko” or the “Corporation”) is pleased to report its financial and operating results for the three months ended March 31, 2020. Financial and operational information is set out below and should be read in conjunction with Briko’s March 31, 2020 condensed unaudited interim financial statements and the … Read more
Published by Shawn Logan Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A worker at Calgary-based NOVA Chemicals Corp. Photograph courtesy NOVA Chemicals Corp. As demand for plastic soars amid the COVID-19 pandemic , two companies have joined forces for a made-in-Canada solution that would ensure no plastic is left behind … Read more
Scott DiSavino (Reuters) – U.S. and Canadian energy firms cut the number of oil and natural gas rigs operating to a record low as they slash spending on new drilling after global coronavirus lockdowns caused energy prices and demand to collapse. The U.S. oil and gas rig count, an early indicator of future output, fell … Read more
May 28, 2020 CNW CALGARY – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX: IPL) announced today that it has agreed to issue $700 million of senior unsecured medium-term notes in the Canadian public debt market. The notes will have a fixed interest rate of 4.232% per annum, payable semi-annually, and will mature on June 1, 2027. The offering is expected to … Read more
SAINT JOHN, N.B. — Irving Oil has signed a deal to buy North Atlantic Refining Corp., including a refinery in Come By Chance, N.L., from U.S. investment firm Silverpeak.
Financial terms of the agreement, which includes a network of gas stations and ot…
By Sharon Cho and Alex Longley May 29, 2020 (Bloomberg) Oil fell as crude was swept up in the broader negative sentiment around deteriorating U.S.-China relations and signs that the market’s demand recovery will be patchy.Futures in New York declined 2.5% on Friday, but were still on course for the biggest monthly gain in data going … Read more
May 28, 2020 | Source: Petrus Resources Ltd. CALGARY, Alberta, May 28, 2020 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) announces its syndicate of lenders has extended the borrowing base termination date on its revolving credit facility agreement from May 31, 2020 to June 15, 2020. The Company continues to be in … Read more
MONTREAL — Business at Canadian National Railway Co. has gone downhill since mid-March, leading to thousands of temporary job cuts at the company as the COVID-19 pandemic rips into a sector that serves as a barometer of economic cycles.
Revenue ton mi…
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 and provides Action BUY and SELL … Read more
May 28, 2020 A U.S. appeals court in California on Thursday declined to suspend a lower court’s ruling that cancelled a national environmental permit, in a decision likely to delay pipeline projects, including the Keystone XL oil pipeline.The U.S. Court of Appeals for the 9th Circuit said in the ruling that the appellants, the Army … Read more
BILLINGS, Mont. — A U.S. appeals court on Thursday turned down a request by the Trump administration and energy industry groups to revive a permit program for new oil and gas pipelines that had been cancelled by a lower court.
The case originated with…
May 28, 2020 Globe Newswire Solid Financial Returns for a Second Straight Quarter Highlights: Revenue of $74.0 million in Q1 2020, an increase of $51.0 million or 222% compared to Q1 2019 Petroleum and natural gas revenue increased by $41.4 million or 178% compared to Q1 2019 Net operating income1 (“NOI”) increased by $14.1 million or 273% … Read more
May 28, 20206:00 AM TheNewswire May 28, 2020 – TheNewswire – Vancouver, B.C. – Hillcrest Petroleum Ltd. (the “Company” or “Hillcrest“) (TSXV:HRH) (OTC:HLRTF), has secured exclusive rights under a Memorandum of Intent to market and deploy US patented technology in the European Union. The Technology has been demonstrated in laboratory tests to potentially improve power generation and electrical vehicle efficiencies by … Read more
May 28, 2020 Globe Newswire CALGARY, Alberta – Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) announces its first quarter 2020 financial and operating results. Selected financial and operational information is outlined below and should be read in conjunction with Razor’s unaudited condensed consolidated interim financial statements and management’s discussion and analysis for the … Read more
May 28, 20206 CNW SAINT JOHN, NB and COME BY CHANCE, NL – Canadian-owned Irving Oil and U.S. investment firm Silverpeak have signed an agreement for Irving Oil to acquire North Atlantic Refining Corp., subject to regulatory review and conditions of sale being met. The agreement includes a 135,000 bpd refinery located in Come By Chance, NL, and a network … Read more
May 27, 2020 CNW OTTAWA – Canada’s Minister of Natural Resources, the Honourable Seamus O’Regan, today released the following statement after meeting by video conference with his provincial and territorial counterparts of the Energy and Mines Ministers’ Conference: “Canadian families and small businesses across the country are feeling the impacts of COVID-19. That’s why the Government of Canada is working with provinces … Read more
By Sharon Cho and Alex Longley May 28, 2020 (Bloomberg) Oil extended declines after a industry report showed U.S. crude inventories swelled for the first time in three weeks.Futures fell 1.4% in New York, following Wednesday’s 4.5% decrease. The American Petroleum Institute reported that stockpiles expanded by 8.73 million barrels last week, according to people familiar … Read more
By Paula Sambo Word Count: 799 (Bloomberg) —The head of Canada Pension Plan Investment Board says office towers won’t stay out of favor forever. Many banks are planning only a partial return to offices in the wake of the coronavirus pandemic and tech companies like Twitter Inc. and Shopify Inc. may never return fully return. But … Read more
May 27, 2020 Reuters Alberta has cut oil output by a quarter or about 1 million barrels per day (bpd), Alberta’s energy minister, Sonya Savage, has informed OPEC.The output cut by Alberta, home to the world’s third-largest oil reserves, represents about a quarter of its production, Savage said in an interview to be published in the … Read more
EDMONTON — Alberta is introducing legislation to allow the government to set maximum time limits on approvals for energy projects.
Energy Minister Sonya Savage says that a review of the system has shown that at times it takes too long for Alberta’s en…
By CHRIS SANKEY MAY 27, 2020 Chris Sankey is president of Blackfish Group of Companies and a former elected Indigenous councillor. Originally publihed in the The Hill Times Indigenous leaders have to balance the environment and culture while growing the economy. This can be a playbook for party leaders. Prime Minister Justin Trudeau, left, and NDP Leader … Read more
By Liam Denning May 27, 2020 (Bloomberg Opinion)Covid-19 has blown a $400 billion hole in global energy. How we fix it will determine our success or failure versus that other implacable force of nature: climate change.The International Energy Agency’s latest investment review, released Wednesday, could easily be subtitled: Don’t let a good crisis go to … Read more
May 27, 2020 Reuters Enbridge Inc on Wednesday said coating repairs were under way at its Line 5 oil pipeline in the Straits of Mackinac in Michigan, as exposed metal spots were found during seasonal maintenance that began in May.“Four locations will require coating repairs where there are bare metal spots ranging from .07 to .43 … Read more
From access roads to residential streets, site preparation to slope stabilization, load distribution to rail repair, and everything in between–Tough Cell is a cost-effective, solid ground solution for projects large and small. Extensive, worldwide project experience and a deep understanding of geotechnical engineering and the working mechanisms of cellular confinement technology are key factors in … Read more
By Doug Alexander May 27, 2020 (Bloomberg) Bank of Montreal followed other Canadian lenders in building up reserves for loan losses to brace for the aftershocks from plunging oil prices and a pandemic that’s caused a near economic standstill. Bank of Montreal, which has consumer-banking operations in Canada and the U.S., set aside a record C$1.12 … Read more
May 27, 2020Newsfile Vancouver, British Columbia – Hemisphere Energy Corporation (TSXV: HME) (“Hemisphere” or the “Company”) announces its financial and operating results for the three months ended March 31, 2020. Q1 2020 Highlights Achieved revenue of $5.0 million. Realized an operating netback of $3.5 million. Attained quarterly adjusted funds flow from operations of $2.2 million. … Read more
May 27, 2020 Newsfile Calgary, Alberta – LEUCROTTA EXPLORATION INC. (TSXV: LXE) (“Leucrotta” or the “Company”) is pleased to announce its financial and operating results for the three months ended March 31, 2020. All dollar figures are Canadian dollars unless otherwise noted. HIGHLIGHTS Drilled, completed and tied-in a second Montney well at Two Rivers. Completed construction of the … Read more
By Sharon Cho and Alex Longley May 27, 2020 (Bloomberg) Oil declined from the highest settlement in 11 weeks on signs Russia is supporting plans to start easing supply cuts from July, while tensions between the U.S. and China escalated amid the specter of sanctions.Futures fell 1.5% in New York. Moscow wants to scale back curbs in line … Read more
By Will Wade May 26, 2020 (Bloomberg) New York Governor Andrew Cuomo is calling for new power lines from upstate and Canada to reinvigorate the state’s ravaged economy and promote clean energy.The plan includes installing cables to bring wind and solar power down from the state’s rural regions to New York City and its suburbs, Cuomo … Read more
May 26, 2020 CNW CALGARY – Advantage Oil & Gas Ltd. (“Advantage” or the “Corporation”) is pleased to announce the renewal of the Corporation’s existing $400 million revolving credit facility, following completion of its annual review by the syndicate of lenders. Upon closing of the previously announced sale of a 12.5% interest in the Glacier Gas Plant for $100 million in July … Read more
Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Wednesday Word to the Wise in your inbox, subscribe here. The Canadian oil and gas industry focus on abandonment, remediation and reclamation work has created a competitive environment for service and supply companies in this space. … Read more
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IMPROVE FLUID QUALITY up hole of artificial lift intake with Raise Production Inc’s (RPI) REALTM – Horizontal Wellbore Separator. Ensure efficient pumping with appropriate design and implementation of gas separation, slug reduction and foam mitigation measures. Installed on tubing right at 90deg inclination, measuring less than 3 joints in length, this patent-pending system controls the flow … Read more
Author: KPMG in Canada In a three part podcast series, Augusto Patmore with guest speakers Scott Stoll and Ryan Chalmers of Aird & Berlis LLP, discuss how the right contracting strategy may improve project performance, manage risk among parties reasonably and ensures contractors remain profitable. The first episode highlights planning considerations and challenges with major … Read more
ST. JOHN’S, N.L. — Newfoundland and Labrador’s government is looking for a rapid answer from Ottawa on its request for aid for the offshore oil sector in light of a quickening exodus of exploration rigs from the province.
Premier Dwight Ball, Natural …
May 26, 2020 CNW CALGARY – Keyera Corp. (“Keyera”) announced today that it has agreed to issue $400 million of senior unsecured medium term notes (the “Offering”). The Offering will be conducted in a single tranche consisting of $400 million senior unsecured medium term notes having a fixed coupon of 3.959% per annum, paid semi-annually, and maturing on May 29, 2030 (the “Notes”). … Read more
CALGARY — Western Canadian producers are moving to restore some oil production as crude prices rise with demand thanks to the gradual opening of the world economy and OPEC and Russian output cuts.
But analysts say companies hit hard by low crude price…
VICTORIA — More than 1,100 applications deluged a British Columbia program creating a funding plan to restore dormant and inactive oil and gas wells, within hours of the program’s launch.
Energy Minister Bruce Ralston says Monday’s requests equal up t…
EDMONTON — Alberta’s government house leader is not backing away from his fellow minister’s comment that the COVID-19 pandemic is a great time to build pipelines.
On Friday, Energy Minister Sonya Savage told an energy industry podcast that because pub…
May 26, 2020 CNW SOUTHEY, SK – Premier Scott Moe’s endless dithering on whether or not to impose a settlement from the mediators in the Co-op Refinery lockout has prompted workers to establish information pickets at five rural Co-op properties. “It boggles the mind why Scott Moe can’t finish the job he started,” said Jerry Dias, Unifor National President. “Why … Read more
Pembina Pipeline Corporation announces $500 million public note offering May 26, 2020 CNW CALGARY – Pembina Pipeline Corporation (“Pembina”) announced today that it has agreed to issue $500 million of senior unsecured medium-term notes (the “Offering”). The Offering will be conducted in two tranches consisting of $400 million in senior unsecured medium-term notes, series 16 (the “Series 16 Notes”) having a … Read more
EDMONTON — Alberta politicians are going back to the legislature this week with a plan to sit until late July and pass 10 bills, while physical distancing and dealing with COVID-19.
Government house leader Jason Nixon said Premier Jason Kenney and his…
May 25, 2020 CNW CALGARY – Clearview Resources Ltd. (“Clearview” or the “Company”) is pleased to announce its financial and operational results for the three months ended March 31, 2020. FINANCIAL and OPERATIONAL RESULTS Production for the three months ended March 31, 2020 was down 9% to 2,299 barrels of oil equivalent per day (“boe/d”) versus the comparative period of 2019. The decrease in … Read more
By Laura Millan Lombrana and Akshat Rathi May 26, 2020 (Bloomberg) In the wake of the historic global economic shutdown in response to the Covid-19 pandemic, governments are unleashing trillions of dollars in a bid to create jobs and spur economic recovery. The scale of this stimulus is unprecedented, in some cases amounting to more than 10% of countries’ … Read more
By Sharon Cho and Alex Longley May 26, 2020 (Bloomberg) Oil rose above $34 a barrel, following a prediction from Russia that the market may rebalance as early as next month due to historic output cuts from global producers. Russia, a key member of the OPEC+ alliance that has pledged to trim supply by almost … Read more
By Dina Khrennikova and Olga Tanas May 25, 2020 (Bloomberg) Russia, OPEC’s key ally in the deal to cut oil production and ease a global glut, sees the market balancing in June or July.Around the world, producers have lowered global oil supply by 14-15 million barrels a day so far, Energy Minister Alexander Novak said in a statement … Read more
May 25, 2020 | Source: TC Energy Corporation CALGARY, Alberta, May 25, 2020 (GLOBE NEWSWIRE) — News Release — TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) announced today that it has completed the sale of a 65 per cent equity interest in the Coastal GasLink Pipeline Project (Coastal GasLink or the Project). … Read more
By David Yager May 25, 2020 Now that the Black Swan has replaced the Great Horned Owl as Alberta’s official bird, we are reminded yet again that predicting the future for the volatile oil and gas industry gets more difficult with every passing year. First there was global warming, later called climate change. For 150 … Read more
Amazon Headquarters 410 Terry Ave. N Seattle, WA 98109 Attention: Jeff Bezos [email protected] Dear Mr. Bezos, The creation of the ten billion dollar Bezos Earth Fund presents an opportunity to collaborate with existing clean tech companies and technologies in Canada’s energy sector to meaningfully impact environmental issues. I’m sure I’m one of thousands (millions?) of … Read more
EDMONTON — Alberta’s energy minister says it’s a good time to build a pipeline because public health restrictions limit protests against them.
Sonya Savage made the comment Friday in a podcast hosted by the Canadian Association of Oilwell Drilling Con…
May 25, 2020 Becht’s core value of “One Team – One Dream” extends beyond business to our neighbors and friends, especially during times of crisis. COVID 19 has created market instability, domestic and international travel shutdowns, quarantines and multiple difficulties that have rippled through our global communities. During these challenging times, we often find that … Read more
By Sharon Cho and Alex Longley May 25, 2020 (Bloomberg) —Oil traded near $33 a barrel as an escalating war of words between the U.S. and China added to caution over the prospects for a global recovery in demand.China warned on Sunday that some in the U.S. were pushing the countries toward a new Cold War, … Read more
By Javier Blas May 25, 2020 (Bloomberg) Global oil consumption hasn’t peaked, the head of the International Energy Agency warned, throwing cold water on hopes the coronavirus will cap demand and reduce climate-changing emissions.“In the absence of strong government policies, a sustained economic recovery and low oil prices are likely to take global oil demand back … Read more
By Sharon Cho and Alex Longley May 25, 2020 (Bloomberg) —Oil traded near $33 a barrel as an escalating war of words between the U.S. and China added to caution over the prospects for a global recovery in demand.China warned on Sunday that some in the U.S. were pushing the countries toward a new Cold War, … Read more
By Rachel Adams-Heard, Kevin Crowley and David Wethe May 24, 2020 (Bloomberg) Oil prices have surged more than 75% in the U.S. this month. But don’t expect a quick rebound in supply from shale explorers.The quick turnaround in oil markets is exposing the shale industry’s big weak spot: Lightning-fast production declines. Shale gushers turn to trickles so quickly that … Read more
May 25, 2020 | Source: Cardinal Energy Ltd. CALGARY, Alberta, May 25, 2020 (GLOBE NEWSWIRE) — Cardinal Energy Ltd. (“Cardinal” or the “Company“) (TSX: CJ) has received approval to extend the revolving period under the Company’s $325 million reserves-based credit facility (the “Credit Facility“) and intends to call a meeting of the holders of its 5.50% … Read more
By Doug Alexander May 22, 2020 (Bloomberg) Canada’s six-biggest banks are poised to set aside C$8.9 billion ($6.4 billion) for souring loans in the fiscal second quarter — a record amount that will wipe out more than half the industry’s profits.The total is the average estimate of five analysts who attempted to calculate potential loan losses … Read more
CALGARY — Vermilion Energy Inc. says Anthony Marino has stepped down as president and chief executive and as a director of the company, effective immediately.
The company says instead of replacing Marino it has created an executive committee to run th…
On paper, using a radar sensor to measure liquid level is easy. Vessels offer plenty of space and available process connections, and tanks have simple shapes that make accurate, repeatable measurement a breeze. Media behaves as expected. Temperatures and pressures stay at a nice, predictable constant. Plant conditions are ideal forever. Everything is perfect and … Read more
We are excited to announce our newest data collaboration with Peloton! Together, we will increase frac data accuracy, reduce manual data entry and save time for your on-site representatives and completions team. Book a demo to learn more about upcoming features, cost-saving measures and so much more: https://cevian.io/#contact
How to host productive remote meetings to keep projects moving Your time is valuable, that’s why this webinar is a quick one. In 20 minutes we’ll go over five strategies you can use during remote meetings to keep projects moving ahead. With some employees in the office and some at home, how are those big … Read more
Use the best TIG products in your shop. CK Worldwide leads GTAW in innovation, cost effective consumable options and a fully stock Canadian network of distributors. We invented the wedge collet, flex-loc torch, super flex cables and have so much to offer when it comes to welding your exotic materials efficiently. Get a quote … Read more
This article was originally published on blog.paradoxaccess.com By Kelly Meyers Acquiring access mats for a project is an expensive endeavour, so making sure you get high-quality matting the first time around is important. To do so, you need to know what you’re looking for. That’s what we’re here to talk about today. No matter what species of … Read more
What is video analytics and computer vision, what does it do, how does it work, what are the benefits? Maybe you already know and want to share your insights, maybe you know less and are curious to learn more? Bring your beverage of choice. Connect with your fellow colleagues and Osperity to share ideas, ask … Read more
Becht’s core value of “One Team – One Dream” extends beyond business to our neighbors and friends, especially during times of crisis. COVID 19 has created market instability, domestic and international travel shutdowns, quarantines and multiple difficulties that have rippled through our global communities. During these challenging times, we often find that those most in … Read more
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Scott DiSavino (Reuters) – The U.S. and Canadian oil and natural gas rig count fell to all-time lows as North American energy firms slashed spending after global coronavirus lockdowns caused energy prices and demand to collapse. The U.S. rig count, an early indicator of future output, fell by 21 to a record low 318 in … Read more
Canada’s drilling rig count is down 2 actively drilling rigs according to data collected by Baker Hughes for the week ending May 22, 2020. From one week ago, Alberta rig counts decreased 1 to 10 and the Saskatchewan rig counts stayed at 2. Oil drilling increase 1 to 8 and gas decreased 3 to 13. … Read more
Updated by Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Heidi McKillop – CANADIAN ENERGY CENTRE/Dave Chidley As a university student in New Brunswick, Heidi McKillop joined friends to protest against oil and gas fracking, guided by beliefs that she now says were misinformed. Today the … Read more
May 23, 2020 Source: Arrow Exploration Corp. CALGARY, Alberta, May 23, 2020 (GLOBE NEWSWIRE) — ARROW Exploration Corp. (“Arrow” or the “Company”) (TSXV:AXL) announces a proposed non-brokered private placement (the “Private Placement”) of 13,000,000 common shares of the Company at a price of $0.025 per share for gross proceeds of $325,000. The private placement will … Read more
By Olga Tanas May 23, 2020 (Bloomberg) Russian President Vladimir Putin gave his government until June 15 to come up with a plan to support the country’s oil industry while output is slashed under an agreement among the world’s main producers. Putin ordered ministers to work out “special rates” that pipeline operator Transneft PJSC and Russian … Read more
Josef Schachter of Schachter Energy Research shares his top picks: Canacol, Pipestone and Trican Well Service. Subscribe to the Schachter Energy Report and receive access to our Webinar, our Action Alerts, our TOP PICK recommendations when the next BUY signal occurs as well as our review of companies ability to survive the present existential virus … Read more
CIBC report warns drilling and well completion companies stand to suffer the most The Canadian Press Canada’s oilfield services sector is in for “an immense amount of pain” over at least the next year thanks to low North American oil and gas exploration activity amid a worldwide glut of cheap crude, according to a report … Read more
Updated by Mark Milke and Lennie Kaplan Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Getty Images photo In the ongoing debate over whether Canada’s oil and natural gas industry will or should survive — see recent comments from the Green Party’s Elizabeth May and Bloc Quebecois leader Yves-François Blanchet that “oil is dead”— one supporting justification often advanced is the notion that oil and gas activity in … Read more
EDMONTON — Alberta Premier Jason Kenney should step in to reverse a decision by the province’s energy regulator to suspend most environmental monitoring in the oilpatch, says the province’s Opposition leader.
The NDP’s Rachel Notley says if the United…
May 22, 2020 Globe Newswire CALGARY, Alberta – Delphi Energy Corp. (“Delphi” or the “Company”) announces that it has obtained an order from the Court of Queen’s Bench of Alberta (the “Court”) granted in Delphi’s proceedings under the Companies’ Creditors Arrangement Act (the “CCAA”): (i) extending the stay period to October 9, 2020, (ii) approving interim financing arrangements intended to … Read more
By Ann Koh and Alex Longley May 22, 2020 (Bloomberg) Oil retreated from the highest level in more than two months with doubts emerging over the strength of China’s economic recovery and as tensions rose between Washington and Beijing.Futures in New York fell 3.4%. Beijing won’t set a target for economic growth this year due to “great uncertainty” … Read more
By Pierre Poilievre, MP, Carleton Former Minister, a five-term Member of Parliament and the Conservative Shadow Minister of Finance. Bill Morneau has told Parliament 20 times that the government’s “balance sheet” is strong. On May 13, I asked the Finance Minister to tell us about the balance sheet’s three main parts: assets, liabilities and equity. … Read more
May 21, 2020 Accesswire CALGARY – Point Loma Resources Ltd. (TSXV:PLX) (the “Corporation” or “Point Loma“) announces that the directors of the Corporation have resigned, the officers have been terminated and the senior secured creditors (“Senior Secured Creditors”) have been given consent to appoint a receiver-manager. The board of directors of the Corporation (the “Board”) has been notified … Read more
About This Webinar Technical Stream | In partnership with EnergyNow and Empowering Pumps & Equipment The oil sands deposits in Western Canada not only represent a vast store of hydrocarbons (oil) that can be converted into fuel and petrochemicals but also a vast hydrogen store? A super clean valuable energy vector and chemical feedstock. With … Read more
CALGARY — The operators of the $9.7-billion Sturgeon Refinery say it is now processing oilsands bitumen as designed after two years of delays blamed mainly on equipment failures.
According to an update on its website, the refinery northeast of Edmonto…
Nevermind Norway, ex-CPPIB CEO sees ‘significant value’ in oil patch Nicole Gibillini, BNN Bloomberg Canada must quickly get its own energy products to global markets: Mark Wiseman Canadian energy still presents plenty of value to investors, notwithstanding being shunned by the world’s largest sovereign wealth fund, according to a former chief executive of the Canada Pension … Read more
May 21, 2020 Newsfile Calgary, Alberta – Pine Cliff Energy Ltd. (TSX: PNE) (“Pine Cliff” or the “Company”) is pleased to announce all matters presented for approval at the annual meeting of shareholders on May 21, 2020 (the “Meeting”) have been approved. A total of 99,008,064 common shares representing 30.21% of Pine Cliff’s issued and outstanding common shares were … Read more
Grande Prairie, Alberta OPEN FOR BIDDING! Featuring: Seacans, Fuel Tanks, Miscellaneous Fracking Equipment Trailers, Fracking Pumps, Hose Fittings, Compressors, Fish Screens, Ford F-350 Grills, Safety Supplies, Shop Tools and Equipment, Office Equipment and Supplies, Appliances, and Much More! Bidding Starts Closing: Monday, May 25th, 2020 at 10 am (MDT) VIEW & BID LOTS Viewing Location: 9825 E 38 Ave … Read more
CALGARY — The Alberta Energy Regulator has suspended a wide array of environmental monitoring requirements for the province’s entire energy industry.
According to decisions posted on its website, the suspensions include all conventional oil and gas op…
CALGARY — STEP Energy Services Ltd. is reporting job cuts, wage rollbacks, a reduction of manned equipment and reduced capital spending as it adjusts to lower oilfield activity during the COVID-19 pandemic.
The Calgary-based company says adjusted earn…
May 21, 2020 CALGARY – Pulse Oil Corp. (TSX-V:PUL) (the “Company” or “Pulse“) is pleased to announce that it intends to complete a brokered private placement (the “Private Placement“), whereby the Company and a wholly owned subsidiary of the Company, Pulse Oil Operating Corp (“OpCo“) will issue an aggregate number of units (the “Private Placement Units“) comprised … Read more
By Ann Koh and Alex Longley May 21, 2020 (Bloomberg) Oil was headed for its longest run of daily gains since February 2019 after a drop in U.S. crude stockpiles added to signs that the market is starting to balance.West Texas Intermediate futures rose for a sixth day in New York to above $34 a barrel. … Read more
May 21, 2020 | Source: STEP Energy Services Ltd. CALGARY, Alberta, May 21, 2020 (GLOBE NEWSWIRE) — STEP Energy Services Ltd. (the “Company” or “STEP”) is pleased to announce its financial and operating results for the three months ended March 31, 2020. The following press release should be read in conjunction with the unaudited condensed consolidated interim … Read more
May 20, 2020 CNW CALGARY – WindRiver Power Corporation is pleased to announce that TC Energy Corporation has closed an equity investment in Turning Point Generation (“TPG”), a WindRiver subsidiary. TPG is the developer and 100 per cent owner of the Canyon Creek Project, a planned pumped hydro energy storage facility to be located near Hinton, Alberta. “We are … Read more
May 19, 2020 | Source: High Arctic Energy Services Inc. NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW CALGARY, Alberta, May 19, 2020 (GLOBE NEWSWIRE) — High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” or “High … Read more
Updated by Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A series of oil platforms that are part of the Johan Sverdrup oil extraction project, the biggest field development on the Norwegian continental shelf since the 1980s. Photograph courtesy Equinor Last week’s decision by Norges Bank … Read more
Does TVD gain always indicate potential production gains? Raise Production Inc (RPI) provides Artificial Lift solutions designed to maximize drawdown—but it is important to first determine the Flow Regime at the heel of the horizontal to determine optimal pump intake location, avoiding disorganized and mixed fluid. Understanding inflow conditions aids in the design and selection … Read more
Each week Josef Schachter will give you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold newsletter covering the general energy market and 29 energy and energy service companies with regular updates. He holds quarterly subscriber webinars (next one Thursday May 28th) and … Read more
MERRITT, B.C. — The RCMP says it’s investigating a suspicious blaze and alleged vandalism at a Trans Mountain pipeline work site near Merritt, B.C.
Mounties say in a news release that a piece of heavy equipment on the pipeline expansion project was th…
CALGARY — The financial stress caused by low oil prices from plummeting fuel demand during the COVID-19 pandemic will result in a wave of Canadian energy mergers and acquisitions — but not until after the world begins to return to normal, observers sa…
Updated by Mark Milke and Lennie Kaplan Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Russian President Vladimir Putin (L) shakes hands with Saudi Deputy Crown Prince and Defence Minister Mohammed bin Salman during a meeting at the Kremlin in Moscow on May 30, 2017. Getty Images photo … Read more
OTTAWA — Canada’s inflation rate turned negative in April as the economy came to a standstill in the first full month of the pandemic as part of a spending shift that a top central banker says may signal further changes in consumption patterns post-CO…
By Ann Koh and Alex Longley May 20, 2020 (Bloomberg) Oil rose for a fifth day as investors weighed signs the market is rebalancing against what’s still a precarious economic outlook.Futures in New York for July delivery gained to above $32 a barrel. A report that a virus vaccine study didn’t produce enough critical data to assess its … Read more
May 19, 2020 CNW CALGARY – Keyera Corp. (TSX: KEY) (“Keyera”) today announced the appointment of Ms. Eileen Marikar as Senior Vice President and Chief Financial Officer (“CFO”), effective May 20, 2020. Mr. Steven Kroeker, who has served as Keyera’s CFO since 2012 is stepping down from the CFO role effective immediately. Ms. Marikar joined Keyera in 2005. Most recently, she served … Read more
May 19, 2020 CNW CALGARY – Journey Energy Inc. (JOY – TSX; JRNGF – OTCQX) (“Journey” or the “Company“) announces its financial results for the first quarter of 2020. The complete set of financial statements and management discussion and analysis for the periods ended March 31, 2020 and 2019 are posted on www.sedar.com and on the Company’s website www.journeyenergy.ca. Highlights for the first … Read more
The majority of Canadian companies have reported earnings for the first three months of 2020, giving a picture of the impact of the COVID-19 pandemic on business so far and in the months to come. Here’s a sector-by-sector look at some of the themes th…
by Aaron Wudrick, Federal Director and Franco Terrazzano, Alberta Director (This column originally appeared in the Financial Post) Prime Minister Justin Trudeau has chosen to make life more expensive by increasing the federal carbon tax by 50 per cent amidst the COVID-19 economic and health crisis. Meanwhile, governments around the world are moving in the opposite direction because … Read more
Get your plaguing questions answered with our very own Dr. Spotfire at this informative session where Cadeon will also explain the NEWLY released features of Spotfire 10.9! Keep up with the latest trends to ensure you are making the most out of your software. Details Tune in online for this quick and informative 30-minute session … Read more
Author: KPMG in Canada As all levels of government begin to take steps toward re-opening the country and restarting our economy, planning for the return to a physical workplace is quickly becoming a top priority for many organizations. With the guidelines for the pandemic continuing to evolve daily, there are many considerations, stages and factors … Read more
Osperity’s all-in-one OMNI solution empowers organizations to remotely monitor and inspect industrial sites & assets with visual AI-driven event detection and exception-based alerting. Contact us today to find out about a free evaluation/trial
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. At XI Technologies, we may be a little biased when it comes … Read more
CALGARY — Billions of dollars in lawsuits will likely result if Joe Biden is elected U.S. president this November and carries out a threat to cancel the presidential permit allowing operation of the Keystone XL pipeline, Canadian observers say.
The pr…
Driving Innovation Down Alberta’s Highways News Release Edmonton, Alberta – On Tuesday, May 19, 2020, InnoTech Alberta, a subsidiary of Alberta Innovates, will begin moving a carbon dioxide (CO2) capture unit – fabricated by ALCO Gas & Oil Equipment Ltd. (ALCO), in Edmonton – to the Alberta Carbon Conversion Technology Centre (ACCTC), located at the Shepard Energy Centre, on the … Read more
May 19, 2020 Accesswire CALGARY, AB – Point Loma Resources Ltd. (TSX.V:PLX) (the “Corporation” or “Point Loma“) announces the cessation of all operations effective May 21, 2020. The board of directors, after extensive and careful consideration, have determined that Point Loma’s business is no longer viable. In the present economic environment, Point Loma has been unable to … Read more
By Ann Koh and Alex Longley May 19, 2020 (Bloomberg)Oil held near a two-month high of $35 a barrel as supply curbs tighten the market and demand rebounds in the world’s largest consuming countries.Prices for oil cargoes from Russia to Brazil have surged as fuel demand has recovered. Indian fuel sales have jumped in the first half … Read more
May 18, 2020 (Bloomberg) Electric vehicles generally don’t coast; they are designed either to accelerate or brake at any given time. The electric vehicle market is much the same.The pandemic ravaged economy is expected to give electric vehicles a boost in China, Europe and countries committed to sparking battery power via financial stimulus and infrastructure spending, according to … Read more
On Thursday, May 14th, 2020, the federal government (along with the province of B.C.), gave in to economic blackmail; signing an agreement with the Wet’suwet’en’s “Hereditary Chiefs” who helped propel illegal blockades all across Canada. All while undercutting the elected First Nations leadership of those very same indigenous communities. This decision was wrong. Here’s everything … Read more
About This Webinar Strategic Stream | In partnership with Energy Now and Empowering Pumps & Equipment Canada’s economy is currently in chaos phase as businesses struggle with resilience and governments examine stimulus measures aimed at recovery. Since the economy has become a topic of discussion in our daily repertoire, perhaps now is the time to … Read more
Enhancing Finite Element Analysis with Digital Image Correlation Test Data – May 14th @ 1:00 pm CT Presenter: Matt Sanders Register: https://attendee.gotowebinar.com/register/3944055268170913808 Auto-Refrigeration and Brittle Fracture Assessments – May 19th @ 1:00 pm CT Presenter: Kannan Subramanian Register: https://attendee.gotowebinar.com/register/7533199870806790414 Introduction to Piping Vibration Problems and Solutions – May 21th @ 1:00 pm CT Presenter: Gyorgy Szasz Register: https://attendee.gotowebinar.com/register/6074010501928065293 Bolted Flange Joints: Overview of PCC-1 … Read more
Use lawn signs to show your support of essential workers or spread positivity. $2 of every lawn sign sold will be donated to TC Energy’s Better Together COVID-19 Relief Campaign. Want to know more about TC Energy’s Campaign? Click here. Purchase Sign DIMENSIONS: 16 x 16 inch sign 30 inch high step stake MATERIALS: Double-Sided, corrugated … Read more
What is video analytics and computer vision, what does it do, how does it work, what are the benefits? Maybe you already know and want to share your insights, maybe you know less and are curious to learn more? Bring your beverage of choice. Connect with your fellow colleagues and Osperity to share ideas, ask … Read more
At any industrial plant, well site or offshore platform the detection of flammable and/or toxic gases and vapour and their potential ignition is a critical activity. But navigating the evolution of detection technology, finding the optimum system to protect people and property isn’t a simple task, particularly since no single system or technology is the … Read more
WASHINGTON — Joe Biden’s campaign says the former vice-president will rip up President Donald Trump’s approvals for the Keystone XL pipeline if he takes over the White House next year.
Campaign officials made Biden’s first policy pronouncements on the…
By Michael Bellusci (Bloomberg) Saudi Arabia’s sovereign wealth fund built stakes in two major Canadian oil sands players during the energy market rout.The Public Investment Fund amassed shares in Calgary-based Canadian Natural Resources Ltd. and Suncor Energy Inc., with a 2.6% and 2% stake in the companies, respectively. PIF is now the eighth largest shareholder in … Read more
“For natural gas, I have heard about the possibility of negative prices. I also think it could happen” Wang Yusuo, Billionaire Chairman of ENN Energy Holdings. Hong Kong, May 13, 2020 Natural gas prices have been on a downward trajectory for over a decade, but who would have thought even a couple of months ago … Read more
By Ann Koh and Alex Longley May 18, 2020 (Bloomberg) Oil rose to the highest in two months as demand in China returned to near pre-virus levels and output curbs continued in the U.S. and elsewhere.Futures in New York climbed as much as 9.8%. Chinese oil use is at 13 million barrels a day, just shy of the … Read more
By Bloomberg News May 18, 2020 (Bloomberg) Chinese oil demand is all but back to levels last seen before Beijing imposed a national lockdown to fight the coronavirus outbreak, according to people with inside knowledge of the country’s energy industry.China is the world’s second largest oil consumer, behind only the U.S., and the country’s quick turnaround … Read more
May 15, 2020 Alex Pourbaix – President & Chief Executive Officer at Cenovus Energy The recent decision by the Norwegian wealth fund, Norges, to pull its investments in Cenovus Energy and three of our oil sands peers is another example of Canada being used as a pawn by institutions attempting to earn climate points. But … Read more
Becht is pleased to announce the grand opening of our The Hague, Netherlands office in June 2020 to serve the EMEA Region. Chris van der Beek, former senior leader within Shell, will serve as Becht’s Director, Europe Operations. Chris brings with him a deep passion for solving problems and serving industry, aligning with Becht’s core … Read more
Updated by Ven Venkatachalam, Lennie Kaplan and Mark Milke Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Environmental spending in Canada This Fact Sheet (which can be downloaded here as a pdf) details spending on environmental protection by the oil and gas sector, other industries, and provincial governments. The comparisons … Read more
Updated by Mark Milke and Ven Venkatachalam on May 15, 2020 Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Johan Sverdrup field, Norway, August 2019. Photograph by Ole Jørgen Bratland, Equinor Norway’s investments in autocracies and dictatorships are twice its investments in Canada Norges Bank, which holds investments … Read more
By Grant Smith, Javier Blas, Julian Lee and Sharon Cho May 16, 2020 (Bloomberg)OPEC+ is responding to the oil market’s collapse with an urgency never seen before.The alliance’s program of production cutbacks this month is well on the way to trimming 9.7 million barrels of daily crude output — roughly 10% of global supplies, according … Read more
Main office – Sidney 9711 Fourth Street Suite 1 Sidney BC V8L 2Y8 [email protected] Attention: Elizabeth May, Member of Parliament Dear Ms. May, I debated writing to you, but I cannot sit back and allow your hateful speech towards the oil and gas sector and its workers go unchallenged. I assumed by now you would … Read more
Canada’s drilling rig count is down 3 actively drilling rigs according to data collected by Baker Hughes for the week ending May 15, 2020. From one week ago, Alberta rig counts decreased 4 to 11 and the Saskatchewan rig counts stayed at 2. Oil drilling stayed at 7 and gas decreased 3 to 16. … Read more
Scott DiSavino (Reuters) – U.S. energy firms cut number of U.S. oil and natural gas rigs operating to an all-time low for a second week in a row as producers slash spending on new drilling after oil prices collapsed due to a slump in demand caused by global lockdowns to stop the coronavirus pandemic. The … Read more
May 15, 2020 Globe Newswire The Company is Confident a Solution Will Be Found CALGARY, Alberta – Pieridae Energy Limited (Pieridae or the Company) (TSXV: PEA) issued the following statement from CEO Alfred Sorensen with respect to the Alberta Energy Regulator’s (“AER”) decision to deny the application to transfer licences for Shell’s Foothills Assets to Pieridae: “We … Read more
Two energy companies whose controversial deal over aging assets in southern Alberta failed to win approval from Alberta’s energy regulator say they will try again.
The regulator refused Thursday to allow licences for wells, pipelines and other facilti…
By Faye Flam May 15, 2020 (Bloomberg Opinion) Each virus has its unique pattern of spread, and scientists are starting get a handle on how the novel coronavirus behaves. This understanding is making it possible to rank the risks of different activities from high to low to trivial. The most informative studies show how the disease … Read more
By Saket Sundria and Alex Longley May 15, 2020 (Bloomberg) Oil is heading for a third weekly gain on signs the market is slowly rebalancing as major producers slash supply and consumption recovers after a historic collapse in demand due to the coronavirus. Futures in New York are up about 13% this week and traded near … Read more
By Julian Lee May 15, 2020 (Bloomberg) A fifth of global demand for oil will disappear this quarter. All three of the major forecasting agencies now agree that the world faces its biggest-ever slump in oil consumption, after governments imposed movement restrictions on billions of people to combat the coronavirus. The scale of the demand hit means that despite producers implementing unprecedented output … Read more
May 14, 2020 | Source: High Arctic Energy Services Inc. NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW CALGARY, Alberta, May 14, 2020 (GLOBE NEWSWIRE) — High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” … Read more
May 14, 2020 Globe Newswire CALGARY, Alberta – Cequence Energy Ltd. (“Cequence” or the “Company”) (TSX: CQE) is pleased to announce its operating and financial results for the three months ended March 31, 2020. The Company’s Management’s Discussion and Analysis (“MD&A”) and Condensed Consolidated Financial Statements are available at cequence-energy.com and on SEDAR at www.sedar.com. HIGHLIGHTS Production … Read more
May 14, 2020 Canadian heavy crude’s discount widened versus the U.S. benchmark West Texas Intermediate (WTI) on Thursday, but remained near decade lows as curtailments ease oversupply concerns.The modest widening this week is due to a few producers moving barrels to buyers as WTI prices rise and Canadian prices reflect only a modest discount, a … Read more
May 14, 2020 CALGARY, Alberta – Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) today announces our financial and operating results for the three months ended March 31, 2020. PPR’s unaudited condensed interim consolidated financial statements for the three months ended March 31, 2020 (“Interim Financial Statements”) and related Management’s Discussion and Analysis … Read more
May 14, 2020 CNW CALGARY – Headwater Exploration Inc. (the “Company” or “Headwater“) (TSX:HWX) announces its operating and financial results for the three months ended March 31, 2020. Selected financial and operational information is outlined below and should be read in conjunction with the unaudited interim condensed financial statements and the related management’s discussion and analysis (“MD&A”). These filings will be available at www.sedar.com and … Read more
CALGARY — A second outbreak of COVID-19 at an oilsands mine work camp in northern Alberta is concerning, observers say, but not even a vocal critic of the Alberta government’s handling of the pandemic would shut those operations down.
The province rel…
by Koleya Karringten Two months into the COVID-19 shutdown, predictions are coming out daily that Canada’s technology industry is in for major challenges. It’s not surprising, because the life of a technology entrepreneur isn’t easy during the best of times. As one myself, I can tell you that it’s a lot of long 14-hour days, … Read more
CALGARY — Alberta’s energy regulator has cited clean-up concerns in blocking the sale of sour gas wells, pipelines and other facilities from an energy giant to a much smaller company.
In a decision released Thursday, the regulator said Calgary-based P…
An increasing number of businesses across a range of sectors are investing in new technologies to increasing their efficiency through automation processes. The oil and gas sector is one such sector. Automated safety systems and processes shouldn’t be underestimated when securing critical infrastructure facilities and structures such as oil rigs. Automation offers an array of … Read more
The world of oil and gas is one built on reputation and respect. It is a global industry, yet in the big picture it is a small world. Service providers are only as good as their last project, it takes years to develop your reputation and that reputation will follow you and your business. Finley … Read more
To slow the spread of COVID-19, we have all had to make adjustments to how we work. For many of us that means restrictions on travel and working from home. For those supporting projects in the field, site visits are often out of the question. Many project teams have managed to stay connected by adapting … Read more
May 14, 2020 CNW CALGARY – Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation“) (TSX: TWM) is pleased to announce that it has filed its condensed interim consolidated financial statements and Management’s Discussion and Analysis (“MD&A“) for the three-month period ended March 31, 2020. FIRST-QUARTER 2020 FINANCIAL PERFORMANCE Highlights Adjusted EBITDA increased by $19.1 million to $41.5 million in the first quarter … Read more
Thursday, May 14, 2020 OTTAWA, ON: The Canadian Taxpayers Federation is calling on the federal government to reverse its carbon tax hike as other jurisdictions have paused or lowered their carbon taxes during the COVID-19 crisis. The CTF is providing the international comparison as part of its annual Gas Tax Honesty Day initiative, which shows drivers how much … Read more
OTTAWA — The Bank of Canada says there are signs in the country’s financial markets that suggest concern about the ability of companies to weather the COVID-19 economic crisis.
The central bank has spent the last two months making a flurry of policy d…
By Saket Sundria and Alex Longley May 14, 2020 (Bloomberg) Oil rose as Saudi Aramco slashed its sales to key buyers and the IEA said that the market is showing signs of improving.Futures in New York added as much as 5.8%, before paring some of those gains. Saudi Aramco cut sales to the U.S. and Europe … Read more
By Esteban Duarte May 13, 2020 (Bloomberg) Canada’s net debt as proportion of its economy is likely to reach a 20-year high, jeopardizing the country’s top credit rating, according to Macquarie Capital Markets.The federal deficit could rise close to C$400 billion as the government extends emergency programs to help buffer the impact of the coronavirus shutdowns, … Read more
By Grant Smith May 14, 2020 (Bloomberg)The outlook for global oil markets has “improved somewhat,” with demand a little stronger than expected and supply reined in by a brutal price crash, the International Energy Agency said.World oil production is on track for a “historic decline” this month to the lowest level in nine years, the … Read more
May 13, 2020 | Source: Birchcliff Energy Ltd. CALGARY, Alberta, May 13, 2020 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its financial and operational results for the three months ended March 31, 2020 and the confirmation of the borrowing base limit under its credit facilities at $1.0 … Read more
May 13, 2020 | Source: Parex Resources Inc. CALGARY, Alberta, May 13, 2020 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX:PXT), a company focused on Colombian oil exploration and production, announces its unaudited financial and operating results for the three months ended March 31, 2020 (“First Quarter” or “Q1”). All amounts herein are in United … Read more
May 13, 2020 | Source: Parkland Fuel Corporation CALGARY, Alberta, May 13, 2020 (GLOBE NEWSWIRE) — Parkland Fuel Corporation (“Parkland”, “We”, “Our” or “Us”) (TSX:PKI) announced today that through its wholly-owned U.S. subsidiaries (collectively, “Parkland USA”), it has completed the previously announced asset agreement to acquire ConoMart Super Stores. ConoMart Super Stores operates seven retail sites located … Read more
May 13, 2020 Reuters Canada’s oil producers need to set clear targets to fight climate change to continue to attract global capital, Canadian Prime Minister Justin Trudeau said on Wednesday, as the country’s carbon-intensive oil sands industry faces heightened environmental scrutiny from investors.The comments come as Japan’s biggest bank by assets said it would restrict transactions … Read more
Each week Josef Schachter will give you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold newsletter covering the general energy market and 29 energy and energy service companies with regular updates. He holds quarterly subscriber webinars (next one Thursday May 28th) and … Read more
For over a decade Scovan has been challenging the status quo and setting new benchmarks for efficiency, quality, and overall project execution. And the best part is that we are just getting started. As proven leaders in Power, Water and Oil solutions, we are leveraging this experience to incorporate the latest technological advancements into your … Read more
VICTORIA — British Columbia has announced details on how it plans to spend $120 million in federal funds earmarked for cleaning up inactive oil and gas well sites across the province.
Premier John Horgan says restoring more than 2,000 inactive oil and…
Updated by Gregory John on May 12, 2020 Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Shane Gottfriedson, B.C. regional director, Project Reconciliation, on the left, Delbert Wapass, executive chair, Project Reconciliation at the Cooks Ferry Indian Band office during their listening tour to get feedback on plans … Read more
Cody Battershill May 12, 2020 If the latest “investigative report” from a trio of Canadian anti-oil activists is any indicator, we should be worried about the state of investigative reporting. Entitled “Who benefits from the oil sands?,” the simplistic report is the latest from Stand.earth, Environmental Defence and Équiterre. The activists claim revenues from the … Read more
VICTORIA — A virtual ceremony, where everyone involved pointed the freshly signed document at their cameras, marked the start of a new relationship between the hereditary chiefs of the Wet’suwet’en Nation and the federal and B.C. governments.
Governme…
By Stephen Treloar and Mikael Holter May 13, 2020 (Bloomberg) Norway’s $1 trillion wealth fund is doubling down on its climate action by making deeper cuts to its fossil fuel exposure.The exclusions span some of the world’s biggest coal miners and make use of climate rules for the first time to exit oil-sands firms. Glencore Plc … Read more
VICTORIA — A virtual signing ceremony on Thursday marks the start of a new relationship between the hereditary chiefs of the Wet’suwet’en Nation and the federal and B.C. governments after tumultuous gas pipeline protests earlier this year, say governm…
May 13, 2020 Reuters Canadian heavy crude’s discount narrowed versus the U.S. benchmark West Texas Intermediate (WTI) on Wednesday, as production curtailments kept a supply glut from exceeding storage capacity.The discount, or differential, to WTI is trading near its lowest levels in 11 years because of deep Canadian output cuts and slowly improving demand as economic … Read more
By Anthony Di Paola May 13, 2020 (Bloomberg)It will take more than a year, and perhaps several, for oil demand to recover to what it was before the coronavirus shuttered economies and caused energy markets to collapse, according to the head of the International Energy Agency.Crude demand of about 100 million barrels a day prior … Read more
May 13, 2020 | Source: Pipestone Energy Corp. photo-release 2020 CAPITAL PROGRAM AND OPERATIONS UPDATE Refer to map PDF available: http://ml.globenewswire.com/Resource/Download/9fe5c744-cd3d-47dd-a42b-792472b30701 CALGARY, Alberta, May 13, 2020 (GLOBE NEWSWIRE) — (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) is pleased to report its Q1 2020 financial and operational results, and an update to our business plan in response to the … Read more
CALGARY — Prime Minister Justin Trudeau says news that one of the world’s largest investment funds will exclude four Canadian oilsands producers from consideration for investing is part of a continuing shift in global attitudes for which oil companies…
May 13, 2020 Reuters Oil prices rose on Wednesday on worries about a possible second wave of coronavirus cases in countries starting to ease lockdowns, while industry data showed a rise in U.S. crude inventories.The concerns overshadowed a further call by Saudi Arabia for larger production cuts to balance the market following a virus-induced demand slump, … Read more
Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Wednesday Word to the Wise in your inbox, subscribe here. The combined challenges of social distancing and reduced demand for oil and … Read more
Gas Interference and Gas Locking are leading causes of bottomhole pump inefficiency, and can happen regardless of gross gas rates and whether your well experiences high or low Gas Liquid Ratios. Vertical poor-boy gas separators, pump intake placement and operational practices can only go so far in preventing gas from filling up the pump barrel—pumps … Read more
By David Yager May 12, 2020 If you’re in the oilpatch and reading this article you’re either on the government dole or wish you were. The centrally planned and legislated COVID-19 economic disaster has crushed the oil industry. Many producers and service companies require public monetary support to avoid financial ruin. The human toll measured … Read more
Author: Jeff Thomas, Partner, Advisory Services KPMG in Canada Various government programs are in place to support businesses through these challenging times, but confusion remains as to which programs can be accessed and under what conditions. The Alberta economy is being hit two-fold right now, making it even more critical to understand how to leverage … Read more
May 12, 2020 Newsfile Calgary, Alberta – Tamarack Valley Energy Ltd. (TSX: TVE) (“Tamarack” or the “Company”) is pleased to announce its financial and operating results for the three months ended March 31, 2020. Selected financial and operational information is outlined below and should be read in conjunction with Tamarack’s unaudited condensed consolidated interim financial statements … Read more
May 12, 2020 Globe Newswire CALGARY, Alberta – Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on its financial and operating results for the first quarter ended March 31, 2020. Michael Binnion, President and Chief Executive Officer, commented, “With the fallout from the pandemic and collapse in oil prices, we are focused on preserving … Read more
May 12, 2020 Globe Newswire CALGARY, Alberta – Peyto Exploration & Development Corp. (“Peyto” or the “Company”) (TSX: PEY) herein presents its operating and financial results for the first quarter of the 2020 fiscal year. The unprecedented global pandemic which disrupted world energy demand, in combination with an untimely market share price war amongst certain OPEC+ … Read more
May 12, 2020 Reuters A coronavirus outbreak at a Canadian oil sands site has spread across five provinces and sparked calls to limit the use of fly-in workers in the remote locations. Any restrictions would upend a labor model that the high-cost industry depends on. Projects that use fly-in workers represent more than half of … Read more
May 12, 2020 CALGARY – Keyera Corp. (TSX: KEY) (“Keyera”) announced its 2020 first quarter financial results today, the highlights of which are included in this news release. The entire news release can be viewed by visiting Keyera’s website at www.keyera.com, or, to view the MD&A and financial statements, visit either Keyera’s website or Keyera’s filings on … Read more
May 12, 2020 CNW CALGARY – Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) (“Bonterra” or the “Company”) is pleased to announce its operating and financial results for the three months ended March 31, 2020. The related financial statements and notes, as well as management’s discussion and analysis (“MD&A”) for the period ended March 31, 2020 are available on SEDAR at www.sedar.com and on Bonterra’s … Read more
May 12, 2020 Reuters Keystone XL workers laying pipe across the Canada-U.S. border. A federal judge in Montana on Monday upheld his ruling last month that canceled an environmental permit for the long-delayed Keystone XL oil pipeline and threatened other oil and natural gas pipeline projects with delays.Chief U.S. District Judge Brian Morris denied a request … Read more
Major insurers Zurich , Chubb increased their insurance cover for a Canadian oil sands pipeline over the last year, Canadian regulatory filings show. The Trans Mountain pipeline, which ships types of crude oil and refined products to British Columbia from Canada’s main oil-producing province of Alberta, is owned by the Canadian government and has become … Read more
The CEO of Teck Resources Ltd. is defending his company’s investing strategies as dissident shareholders continue to criticize him for what they call “underperforming” investments in coal and oilsands.
Don Lindsay told investors on a mining conference…
By Alex Longley and Saket Sundria May 12, 2020 (Bloomberg) Oil rose as demand continued to show signs of recovery and Saudi Arabia pledged to unilaterally deepen its production cuts. Futures gained 5.1% in New York with equity markets also turning higher. Pockets of demand are starting to emerge in India and China, and while a huge glut remains, … Read more
By Rachel Adams-Heard May 12, 2020 (Bloomberg) Some drillers in the biggest North American oil field are reopening wells shut in response to the pandemic-driven price collapse, according to pipeline giant Energy Transfer LP.In the Permian Basin’s Midland region, about 8% of oil volumes that feed Energy Transfer’s pipe network had been shut at the start … Read more
May 11, 2020 | Source: Gran Tierra Energy Inc. Focused on Balance Sheet Protection and Long-Term Value Preservation Low Base Decline, Conventional Oil Asset Base and Operatorship Provide Competitive Advantage Prioritizing Financial Strength and Liquidity CALGARY, Alberta, May 11, 2020 (GLOBE NEWSWIRE) — Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced the Company’s financial … Read more
By Grant Smith and Sheela Tobben Global inventory builds are slowing, China falling: Kayrros Oil market now on path towards rebalancing: Goldman Sachs While the global oil market remains in a dire situation, it’s starting to look like the nightmare scenario envisioned for the past month might just be averted. The industry feared a flood … Read more
May 11, 2020 Globe Newswire CALGARY, Alberta – Suncor announced today that it has priced an offering of US$450 million in aggregate principal amount of senior unsecured notes due on May 15, 2023 (the “2023 Notes”) and US$550 million in aggregate principal amount of senior unsecured notes due on May 15, 2025 (the “2025 Notes” and, … Read more
CALGARY — A federal financing relief package for large Canadian companies was applauded by the oil and gas sector and the Alberta government on Monday despite conditions that could link the aid to an individual company’s climate change goals.
In Edmon…
Download PDF Version HERE Contact: Travis Sharpe Director of Business Development [email protected] +1-403-651-8300 geminifabrication.com
Mark Milke and Ven Venkatachalam Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter This Fact Sheet (which can be downloaded here as a pdf) compares Canada and the United States on pipelines built from 2014 to 2020 and offers an international comparison on pipelines under construction as of early … Read more
May 11, 2020 Reuters Canadian heavy crude’s discount versus the U.S. benchmark West Texas Intermediate (WTI) narrowed on Monday to an 11-year low.Western Canada Select (WCS) heavy blend crude for June delivery in Hardisty, Alberta, traded at $3 per barrel below WTI, according to NE2 Canada Inc, narrower than Friday’s settle of $3.45 under. The intraday … Read more
OTTAWA — The country’s largest employers will soon be able to land federal financing to help weather the COVID-19 economic crisis, but are being warned they’ll need to open themselves to financial scrutiny for any tax evasion and prove their commitmen…
By Geoffrey Cann I’ve been through many oil market cycles, and there is but one truth. Only the low cost survive. Oil Cycles Are Personal My first downturn was in 1985 when I was working for Imperial Oil in Toronto. The demand for oil at the time is around 40 million barrels per day (mbpd) … Read more
May 11, 2020 Reuters Canada’s oil patch has endured five years of existential threats that have pruned weaker companies, but now its strongest firms are trying to navigate the coronavirus pandemic, which has set off the worst crisis in the oil industry in 40 years. Economic shutdowns have ground travel to a halt, cutting fuel demand … Read more
By Saket Sundria and Alex Longley May 11, 2020 (Bloomberg) Oil pared last week’s gain as fears of a potential resurgence in global coronavirus cases countered tentative signs of a demand recovery.Futures fell 2.3% in New York to trade near $24 a barrel. China put Shulan, a city near the North Korean border, in lockdown over the weekend, … Read more
By Javier Blas May 11, 2020 (Bloomberg) Saudi Arabia announced a voluntary and unilateral cut of 1 million barrels a day in its oil production, bringing output to its lowest in 18 years, as the kingdom tries to prop up a nascent recovery in global energy markets.Saudi Arabia aims to pump in June just under 7.5 … Read more
By Dan Murtaugh May 11, 2020 (Bloomberg)The great oil glut of 2020 may have already peaked in the world’s biggest crude importer. Crude inventories in China have shrunk in recent weeks after rising to record levels, according to analysts and satellite observations. Supplies have been drawn out of storage as refineries ramp up operations to meet … Read more
CALGARY — Work-from-home measures taken to control the spread of the COVID-19 pandemic are challenging long-held assumptions about how Canada’s oil and gas sector should provide and care for its office workers.
The ramifications as downtown offices re…
May 08, 2020 | Source: Return Energy Inc. NOT FOR DISTRIBUTION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW. CALGARY, Alberta, May 08, 2020 (GLOBE NEWSWIRE) — Return Energy Inc. d.b.a. Spartan Delta Corp. (“Spartan” or the “Company“) (RTN: TSXV) is pleased to announce that it has closed … Read more
CALGARY — Ensign Energy Services Inc. suspended its quarterly dividend as it reported a loss of $29.3 million in its latest quarter.
The drilling company says it stopped its regular payment of six cents per share due to the COVID-19 pandemic and the p…
Saying oil is dead is ‘disrespectful’: says former Sask. Premier. Parliamentary leader Elizabeth May and former Sask. Premier Brad Wall debate the state of the oil sector and what the industry could look like.
May 8, 2020 CALGARY, Alberta- Delphi Energy Corp. (“Delphi” or the “Company”) announces that it has obtained an order from the Court of Queen’s Bench of Alberta (the “Court”) granted in Delphi’s proceedings under the Companies’ Creditors Arrangement Act (the “CCAA”) extending the stay period provided by the amended and restated initial order to May 22, 2020. Delphi reports … Read more
by Greg McLean Member of Parliament for Calgary Centre and the Official Opposition Deputy Shadow Minister of National Revenue. I would love to be the fact-checking editor on any opinion put forth by Elizabeth May and Yves-Francois Blanchet. The extensive corrections would make the submission unfit for printing. I’ve been a Member of Parliament for … Read more
FREE Webinar on Blackline Safety’s COVID-19 Industrial Contact Tracing Tools Westech Industrial is a proud distributor of Blackline Safety and we are pleased to share with our customers Blackline Safety’s FREE webinar series that will present the latest industrial COVID-19 contact tracing tools leveraging their cloud-connected safety wearables and smartphone apps. The webinar will … Read more
Becht recently completed its ninth webinar in their Shutdown and Turndown Consideration Webinar Series. In total, over 3,000 downstream professional from 65 countries attended Becht’s Webinar Series, which covered the following topics: FCC Turndown and Shutdown Considerations Crude Unit Turndown and Shutdown Considerations Coking and Heavy Oil Turndown and Shutdown Considerations Alkylation Unit Turndown and … Read more
Watch Recording For unmanned and remote gas operations spanning production, processing and distribution, reliable continuous methane monitoring is instrumental in meeting methane mitigation targets and goals in the areas of safety and efficiency. Existing technologies, however, can be cost-prohibitive to a majority of operators or impractical for certain applications. This free webinar introduces a cost-effective … Read more
By Kait Bolongaro May 8, 2020 (Bloomberg) Justin Trudeau’s transformation from social reformer to crisis manager was going well until now.The spread of Covid-19 is slowing in Canada. A generous and early fiscal response won him praise and a bump in his approval rating. Senior aides were likening the Liberal government’s success to having a strong start to … Read more
By Kevin Orland (Bloomberg) For Alberta’s economy this year, it’s almost as if the oil sands have gone missing.Canadian energy companies ranging from oil and gas producers to pipeline operators and service companies have announced plans to cut as much as C$11.4 billion ($8.1 billion) in capital spending, with giants Suncor Energy Inc. and Canadian Natural … Read more
Canada’s drilling rig count is down 1 actively drilling rigs according to data collected by Baker Hughes for the week ending May 8, 2020. From one week ago, Alberta rig counts decreased 1 to 15 and the Saskatchewan rig counts stayed at 2. Oil drilling stayed at 7 and gas decreased 1 to 19. … Read more
CORE Marketing Inc. is a Business Development and Sales Consulting Firm. We contract to service companies and manufacturers long term to develop a collaborative sales strategy, and bring that plan to action. How it works Our sales consultants work on our client’s behalf to help grow current accounts and bring in new opportunities. We onboard … Read more
May 8, 2020 CNW All financial information contained within this news release has been prepared in accordance with U.S. GAAP, except as noted under “Non-GAAP Measures”. 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” at the conclusion of this … Read more
May 8, 2020 Reuters Canadian heavy crude’s discount versus the U.S. benchmark West Texas Intermediate (WTI) narrowed on Friday to an 11-year low.Western Canada Select (WCS) heavy blend crude for June delivery in Hardisty, Alberta, traded at $3.50 per barrel below WTI, according to NE2 Canada Inc, narrower than Thursday’s settle of $5.25 under. The … Read more
Each week Josef Schachter will give you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold newsletter covering the general energy market and 29 energy and energy service companies with regular updates. He holds quarterly subscriber webinars (next one Thursday May 28th) and … Read more
By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Russian President Vladimir Putin and executives with state oil company Rosneft present a major shipbuilding complex to Indian Prime Minister Narendra Modi. India will be an investor in a new US$157 billion oil project in the Russian … Read more
May 8, 2020Reuters Three of Enbridge’s pipelines were shut following a fire on the company’s Line 10 segment of its Texas Eastern Natural Gas System, in Fleming County, Kentucky on May 4, the U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA) said on Friday.The company said on Thursday there was no estimated timeline to return … Read more
Scott DiSavino (Reuters) – The number of operating oil and natural gas rigs fell to an all-time low – reflecting data going back 80 years – as the energy industry slashes output and spending to deal with the coronavirus-led crash in fuel demand. The rig count, an early indicator of future output, fell by 34 … Read more
Rick Bell More from Rick Bell Published:May 8, 2020 You remember those Bobbsey Twins of B.S. You remember Yves-Francois Blanchet, the separatist frontman who lives on a steady diet of Quebec being hard done by. You remember Elizabeth May, the main mouthpiece of Canada’s Greens, the dreamer of other people’s nightmares. And you remember being on … Read more
By Erik Hertzberg, Theophilos Argitis and Shelly Hagan May 8, 2020 (Bloomberg) Canada lost 2 million jobs in April as a result of pandemic-related shutdowns, by far the biggest decline on record but only about half what economists had expected. The drop in employment adds to the 1 million decline in March. The jobless rate jumped … Read more
By Paul Burkhardt and Elizabeth Low May 8, 2020 (Bloomberg) Oil headed for its first back-to-back weekly gain since February as output cuts from the biggest producers and a nascent recovery in demand began to rebalance a market awash with crude.Futures in New York rose toward $25 a barrel on Friday and are up about 21% … Read more
Cody Battershill May 8, 2020 Over the past few months, Canadians have been through a life changing crisis. From the COVID-19 pandemic’s 4000-plus deaths across the country, to its preventative lockdowns, physical distancing and economic devastation, most of us have never experienced anything remotely like it. The same holds true for several Canadian industries, especially … Read more
May 08, 2020 | Source: ClearStream Energy Services Inc. CALGARY, Alberta, May 08, 2020 (GLOBE NEWSWIRE) — ClearStream Energy Services Inc. (“ClearStream” or the “Company”) (TSX: CSM) today announced its results for the three months ended March 31, 2020. All amounts are in Canadian dollars and expressed in thousands of dollars unless otherwise noted. “EBITDAS” and “Adjusted … Read more
May 7, 2020 CNW First quarter results reflect the resilience of Pembina’s diversified and integrated business All financial figures are in Canadian dollars unless noted otherwise. CALGARY – Pembina Pipeline Corporation (“Pembina” or the “Company”) (TSX: PPL; NYSE: PBA) announced today its financial and operating results for the first quarter of 2020. Financial and Operational Overview 3 Months … Read more
May 7, 2020 CWN CALGARY – Crew Energy Inc. (TSX: CR) (“Crew” or the “Company”) today announces our operating and financial results for the three month period ended March 31, 2020. Crew’s Financial Statements and Notes, as well as Management’s Discussion and Analysis (“MD&A”) for the three month period ended March 31, 2020 are available on Crew’s website and filed … Read more
May 7, 2020 Globe Newswire CALGARY, Alberta – Cardinal Energy Ltd. (“Cardinal” or the “Company“) (TSX: CJ) is pleased to announce its operating and financial results for the first quarter ended March 31, 2020. Selected financial and operating information is shown below and should be read in conjunction with Cardinal’s unaudited condensed interim financial statements and … Read more
May 7, 2020 Globe Newswire CALGARY, Alberta – Baytex Energy Corp. (“Baytex”)(TSX, NYSE: BTE) reports its operating and financial results for the three months ended March 31, 2020 (all amounts are in Canadian dollars unless otherwise noted). “As an industry, we are facing an unprecedented challenge due to the effects of COVID-19 and the significant … Read more
May 7, 2020 The Canadian Press CALGARY – Inter Pipeline Ltd. is warning that the cost of building its Heartland Petrochemical Complex has risen by about half a billion dollars and its in-service date may be delayed due to factors including the impact of the COVID-19 pandemic. When announced in December 2017, the cost of the … Read more
May 7, 2020 Flexibility Enables Dynamic Response to Preserve Financial Strength Significant Cost Savings and Capital Efficiencies Enhance 2020 and 2021 Actions Taken in Response to Current Low Oil Price Environment: Second quarter planned capital investments reduced 60%. Company doubles its initial estimate of 2020 cash cost savings to $200 million, majority durable into future years. … Read more
EDMONTON — The leader of a First Nation surrounded by oilsands development is frustrated by the Alberta Energy Regulator’s decision to suspend a wide array of environmental reporting requirements.
“We are surprised and disappointed there was no effort…
OTTAWA — Canada’s oil patch is not dead, Prime Minister Justin Trudeau said Thursday, as political pressure mounted on the government not to provide any further bailouts to the struggling sector.
Trudeau was speaking a day after Green parliamentary le…
by Tom Olsen on May 6, 2020 Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Canada’s energy sector is facing unprecedented challenges as oil demand collapses as a result of the COVID-19 pandemic. The toll is already visible, with layoffs coming at the worst possible time for families, … Read more
EDMONTON — Premier Jason Kenney says Alberta and the federal government will cost share a $42-million program to help farmers and ranchers deal with a backlog of cattle waiting to be processed during the COVID-19 pandemic.
“The livestock industry both…
CALGARY — American oil and gas producer Murphy Oil Corp. says it is shutting its Calgary office as part of a plan to cut costs as oil prices remain at low ebb.
The company says it will transfer functions of the Calgary office, which employs about 110 …
CALGARY — Inter Pipeline Ltd. is warning that the cost of building its Heartland Petrochemical Complex has risen by about half a billion dollars and its in-service date may be delayed due to factors including the impact of the COVID-19 pandemic.
When …
Updated by Grady Semmens Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Georgian Bay on Lake Huron in Ontario will see water pumped into an upper reservoir at night to generate electricity during peak periods. Photograph supplied by TC Energy A multi-billion-dollar project to reinforce Ontario’s power grid is … Read more
Raise Production Inc’s (RPI) HARPTM – High Angle Reciprocating Pump is an innovative bottomhole pump designed as a solution to maximize drawdown by landing artificial lift at high inclination (up to 95 degrees) in deviated / horizontal wells. The HARPTM comprises the first segment of Raise Efficient Artificial lift – REALTM solutions to maximizing productivity. The HARPTM can stroke … Read more
By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Getty Images photo Opponents of Canada’s oil and gas industry would like to use the deep but temporary oil demand shock caused by COVID-19 lockdowns around the world as a platform to advance their demands for a … Read more
Author: KPMG Across industries, CEOs are realizing the importance of agility in sustaining and growing their business. More than half acknowledge agility as the new currency of business and that growth relies on the ability to challenge and disrupt business norms. Despite this realization, just under half of global CIOs feel their organizations are better … Read more
May 7, 2020 (Bloomberg) Oil surged after Saudi Arabia raised prices for its crude globally.Futures in London added as much as 7.1%, moving beyond $31 a barrel, while U.S. crude rose 11%. State-run Saudi Aramco, which earlier this year initiated a war by offering massive discounts on its crude, raised prices on almost all grades for … Read more
CALGARY — Canadian Natural Resources Ltd. said it is looking to cut its costs this year by $745 million compared with last year as it reported a first-quarter loss of $1.28 billion.
The oilsands company said it was also cutting its capital spending by…
Calgary, Alberta–(Newsfile Corp. – May 7, 2020) – Kelt Exploration Ltd. (TSX: KEL) (“Kelt” or the “Company”) reports its financial and operating results to shareholders for the first quarter ended March 31, 2020. In addition, Kelt is providing a corporate update in response to the current market conditions resulting from the COVID-19 pandemic. The Company’s … Read more
May 07, 2020 | Source: InPlay Oil Corp. CALGARY, Alberta, May 07, 2020 (GLOBE NEWSWIRE) — InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) is pleased to announce its financial and operating results for the three months ended March 31, 2020. InPlay’s condensed unaudited interim financial statements and notes, as well as management’s … Read more
May 06, 2020 | Source: Parkland Fuel Corporation CALGARY, Alberta, May 06, 2020 (GLOBE NEWSWIRE) — Parkland Fuel Corporation (“Parkland”, “we”, the “Company”, or “our”) (TSX:PKI) announced today its financial and operating results for the three months ended March 31, 2020. First quarter highlights include: Adjusted EBITDA attributable to Parkland (“Adjusted EBITDA”) of $191 million. Net … Read more
May 6, 2020 CNW CALGARY – Advantage Oil & Gas Ltd. (“Advantage” or the “Corporation”) is pleased to announce solid first quarter 2020 operating results including production of 46,458 boe/d (up 3% from first quarter 2019) and record liquids production of 3,714 bbls/d (up 83% from first quarter 2019) with continued low operating costs of $2.28/boe. Production … Read more
CALGARY — Enbridge Inc. reported a first-quarter loss of nearly $1.43 billion as it was hit by one-time non-cash charges in the quarter including a writedown of its investment in DCP Midstream, a joint venture in the U.S.
Chief executive Al Monaco say…
(Kyle Bakx/CBC) May 6, 2020 Office employs 110 people in Calgary Murphy Oil is closing its Calgary office and moving all business to Houston. Murphy Oil announced Wednesday it will close its Calgary office as well as its headquarters in Arkansas, and move all business to Houston, due to the collapse in oil prices. The … Read more
May 6, 2020 CALGARY, Alberta – Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to report its operating and unaudited consolidated financial results for the three months ended March 31, 2020. Operations Highlights Q1 Production: ~36,550 boe/d including ~28,300 bbl/d in Thermal Oil & ~8,250 boe/d in Light Oil. Leismer: Q1 production of … Read more
May 6, 2020 CALGARY – (ARX – TSX) ARC Resources Ltd. (“ARC” or the “Company”) hereby reports its first quarter 2020 financial and operational results. ARC’s unaudited condensed interim financial statements and notes (“financial statements”) and ARC’s Management’s Discussion and Analysis (“MD&A”) as at and for the three months ended March 31, 2020 are available on ARC’s website at www.arcresources.com and on … Read more
May 6, 2020 CNW CALGARY – Gear Energy Ltd. (“Gear” or the “Company”) (TSX:GXE) is providing the following first quarter operating update to shareholders. Gear’s Interim Condensed Consolidated Financial Statements and related Management’s Discussion and Analysis (“MD&A”) for the period ended March 31, 2020 are available for review on Gear’s website at www.gearenergy.com and on www.sedar.com. Three months ended (Cdn$ thousands, … Read more
May 6, 2020 Calgary, Alberta – Pine Cliff Energy Ltd. (TSX: PNE) (“Pine Cliff” or the “Company“) is pleased to announce the filing of its first quarter financial and operating results. Included in the filings were Pine Cliff’s unaudited interim condensed consolidated financial statements and related management’s discussion and analysis for the three months ended … Read more
May 6, 2020 Canadian heavy crude’s discount widened versus the U.S. benchmark West Texas Intermediate (WTI) on Wednesday, as rising inventories offset hopes for a recovery in fuel demand that has been pummeled by the coronavirus pandemic.Western Canada Select (WCS) heavy blend crude for June delivery in Hardisty, Alberta, traded at $5.50 per barrel below … Read more
CALGARY — Parkland Fuel Corp. says it saw a $79-million loss in the first quarter.
The Calgary-based company says that equalled a loss of 53 cents per diluted share, compared with a profit of 52 cents per share or $77 million a year earlier.
Revenues …
EDMONTON — The Alberta Energy Regulator has suspended a wide array of environmental monitoring requirements for companies in the oilsands.
The suspensions have been granted over public health concerns raised by the COVID-19 pandemic.
The decision, rel…
CALGARY — Frontera Energy Corp. says it has suspended its dividends, withdrawn its guidance for the year and won’t repurchase shares because of difficult operating conditions.
The Calgary-based oil producer says it lost nearly $388 million or $4.04 pe…
May 6, 2020 CNW CALGARY – Tourmaline Oil Corp. (TSX:TOU) (“Tourmaline” or the “Company”) is pleased to release financial and operating results for the first quarter of 2020 and provide updates regarding 2020 budget and dividend. HIGHLIGHTS Q1 2020 cash flow(1) was $283.7 million ($1.05/diluted share) on Q1 E&P capital spending of $306.2 million. Q1 2020 production averaged a record 308,349 … Read more
May 6, 2020 CALGARY, Alberta – Painted Pony Energy Ltd. (“Painted Pony” or the “Corporation”) (TSX: PONY) is pleased to announce first quarter 2020 financial and operating results. HIGHLIGHTS: Averaged strong first quarter 2020 production volumes of 319 MMcfe/d (53,141 boe/d) which is 18% higher than fourth quarter 2019 production of 271 MMcfe/d (45,173 boe/d). … Read more
CALGARY — Consumer demand for fuel is growing slightly after a sudden decline due to measures to deal with the COVID-19 pandemic but the CEO of Suncor Energy Inc. says he doesn’t expect a full recovery for his company or the Canadian energy sector unt…
By Rachel Adams-Heard and David Wethe May 5, 2020 (Bloomberg) A pair of prominent shale producers said all they need is oil around $30 a barrel to consider bringing back curtailed crude output and fracking new wells.Diamondback Energy Inc. is curbing production this month by 10% to 15% and sending home most of its fracking crews … Read more
By Elizabeth Low and Alex Longley May 6, 2020 (Bloomberg) Oil fell toward $23 a barrel in New York, snapping a run of gains that had seen prices double over five days.The drop reflects persistent concern that the global glut will take a long time to eliminate as demand remains crushed by the coronavirus. Economic data … Read more
By David Yager May 4, 2020 May 4, 2020 Since crude prices began to crumble in early March, the only positive event for the battered oilpatch has been Planet of the Humans, a documentary made by American environmentalist Jeff Gibbs and executive producer Michael Moore. And it isn’t particularly good news either! Released free on … Read more
May 5, 2020 Reuters Canadian heavy crude’s discount widened versus the U.S. benchmark West Texas Intermediate (WTI) on Tuesday, as moves by some countries to ease lockdown measures propelled global oil prices while data showed Canadian crude oil exports to the U.S. fell.Canadian oil exports to the United States dropped to 3.74 million barrels per … Read more
May 5, 2020 CNW CALGARY – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) is pleased to announce its financial and operating results for the quarter ending March 31st, 2020. Q1/2020 CORPORATE UPDATE – NAVIGATING THE PANDEMIC Massive crude oil demand destruction from the COVID-19 pandemic, together with increased oil production from OPEC and Russia, contributed to a … Read more
CALGARY — Crescent Point Energy Corp. reported a $2.32-billion first-quarter loss as it took a non-cash charge of $3.56 billion due to the plunge in oil prices.
The company says the loss amounted to $4.40 per diluted share for the quarter ended March …
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. Succeeding in oil and gas M&A comes down to how well and … Read more
May 05, 2020| Source: TC Energy Corporation CALGARY, Alberta, May 05, 2020 (GLOBE NEWSWIRE) – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) is proud to announce that beginning today its #BetterTogether Campaign is matching all donations made through the TC Energy Giving Portal at 200 per cent up to its goal of $500,000 to support … Read more
By Kevin Orland May 5, 2020 (Bloomberg) Suncor Energy Inc. is going further into a defensive crouch, cutting its capital-spending plans for a second time and shrinking its dividend payout, as the Covid-19 pandemic hammers crude demand.Capital spending this year will be C$3.6 billion to C$4 billion ($2.6 billion to $2.9 billion), down from an already-reduced … Read more
May 5, 2020 Globe Newswire CALGARY, Alberta – Freehold Royalties Ltd. (Freehold or the Company) (TSX:FRU) announces first quarter results for the period ended March 31, 2020. Results at a Glance Three Months Ended March 31 FINANCIAL ($000s, except as noted) 2020 2019 Change Royalty and other revenue 26,284 35,609 -26 % Net income (loss) (9,022 ) … Read more
May 5, 2020 CNW CALGARY – TORC Oil & Gas Ltd. (“TORC” or the “Company”) (TSX: TOG) is pleased to announce financial and operating results for the three months ended March 31, 2020. The associated Management’s Discussion and Analysis (“MD&A”) and unaudited interim financial statements as at and for the quarter ended March 31, 2020 can be found at www.sedar.com and www.torcoil.com. … Read more
May 5, 2020 Globe Newswire Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards, specifically International Accounting Standard 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a working interest basis, before royalties, … Read more
CALGARY — Suncor Energy Inc. is reporting a first-quarter net loss of $3.525 billion mainly due to asset impairments linked to low oil prices, compared with net earnings of $1.47 billion in the same quarter of last year.
The Calgary-based company says…
CALGARY — Analysts say an Enbridge Inc. plan to use an idled leg of its Mainline pipeline system to store surplus Western Canadian oil will help offset lower volumes on the system as U.S. refineries buy less oil to match lower demand.
Enbridge has app…
May 5, 2020 Reuters Saudi Arabia’s crude oil exports in May are expected to drop to about 6 million barrels per day (bpd), the lowest in almost a decade, and domestic refining output is likely to fall as the coronavirus crisis hits demand, industry sources and analysts say.The world’s top oil exporter will cut crude production … Read more
May 5, 2020 Goldboro LNG Project Continues to Move Forward CALGARY, Alberta – Pieridae Energy Limited (Pieridae or the Company) (TSXV: PEA) today announced it has negotiated extensions of the key deadlines under its 20-year agreement with German energy company Uniper Global Commodities (Uniper). These include expected commercial deliveries of gas to Uniper to start between August … Read more
By Alex Longley May 5, 2020 (Bloomberg) Oil headed for the longest run of daily gains in more than nine months as the impact of production cuts indicated a huge glut may be beginning to ease.Futures in New York rose for a fifth day, with OPEC+ producers and Texas drillers slashing output. On Tuesday, Genscape reported an increase … Read more
By Lorcan Roche Kelly May 5, 2020 (Bloomberg) Accusations fly between China and the U.S., German court gives the ECB a deadline, and reopenings gather pace. Here are some of the things people in markets are talking about today. Name calling In the latest chapter of its dispute with the U.S. over the coronavirus outbreak, Chinese state media … Read more
By Robert Tuttle May 4, 2020 (Bloomberg) Canadian heavy crude surged to its strongest price versus futures since at least 2008 as producers curtailed output and Enbridge Inc. agreed to open part of its pipeline system for storage. Enbridge on Monday said it would use a section of an old oil pipeline running between Saskatchewan and … Read more
May 05, 2020 | Source: Petrus Resources Ltd. CALGARY, Alberta, May 05, 2020 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to report financial and operating results as at and for the three months ended March 31, 2020. Petrus is focused on generating free cash flow for debt repayment and further … Read more
CALGARY — MEG Energy Corp. cut its capital spending guidance for a second time due to the COVID-19 pandemic as it reported a first-quarter loss of $284 million.
The company now expects its capital spending to total $150 million, down from an estimate …
May 04, 2020 | Source: Gibson Energy Inc. CALGARY, Alberta, May 04, 2020 (GLOBE NEWSWIRE) — Gibson Energy Inc. (“Gibson” or the “Company”) (TSX: GEI), announced today the release of its inaugural Sustainability Report, which formalizes Gibson’s commitment to sustainability and marks the beginning of the Company’s efforts to consolidate and report on its work in … Read more
Calgary, Alberta–(Newsfile Corp. – May 4, 2020) – Bonavista Energy Corporation (TSX: BNP) (“Bonavista” or the “Company“) announces that it has entered into forbearance agreements (the “Forbearance Agreements“) with the lenders (the “Lenders“) under the Company’s amended and restated credit agreement dated as of September 8, 2017 (the “Credit Agreement“) and with holders (the “Noteholders“) … Read more
By Geoffrey Cann Oil, gas and services companies intent on adopting digital (and that means all of you), should be helping their employees deal with some uncomfortable truths and deeply unsettling feelings. The Change Agents I meet a lot of change agents in oil and gas who have been tasked with helping their organizations adopt … Read more
May 4, 2020 Reuters Enbridge Inc said on Monday the Canadian pipeline operator has reached a deal with shippers to temporarily store crude oil in North America’s largest oil pipeline network from June 1 and is working with governments to provide additional capacity.A crash in crude prices due to global economic restrictions aimed at curbing the … Read more
First and foremost, I hope that you continue to be safe and healthy and want to thank you for your patience during these challenging times. On account of the COVID-19 pandemic, the Chief Medical Officers of Health of Alberta and Saskatchewan Health Authority have banned all gatherings of more than 15 people for an indefinite … Read more
May 4, 2020 CNW CALGARY – Perpetual Energy Inc. (“Perpetual”, or the “Company”) is pleased to release its first quarter 2020 financial and operating results. A complete copy of Perpetual’s unaudited condensed interim consolidated financial statements and related Management’s Discussion and Analysis (“MD&A”) for the three months ended March 31, 2020 can be obtained through the Company’s website at www.perpetualenergyinc.com and SEDAR at www.sedar.com. … Read more
May 4, 2020 CNW All financial figures are in Canadian dollars ($ or C$) and all references to barrels are per barrel of bitumen sales unless otherwise noted CALGARY – MEG Energy Corp. (TSX:MEG, “MEG” or the “Corporation”) reported its first quarter 2020 operational and financial results. MEG continues to respond proactively to the safety and financial challenges associated with the COVID-19 pandemic. “We are committed to ensuring the health … Read more
By David Wethe May 4, 2020 (Bloomberg) Turns out shutting an oil well is easy, in many cases it can be done with a few taps on an iPhone. Figuring out which to shut, and for how long, is the hard part.In the wake of a killer pandemic and the worst crude crash in history, the … Read more
May 4, 2020 Reuters Canadian heavy crude’s discount narrowed versus the U.S. benchmark West Texas Intermediate (WTI) on Monday, surpassing an 11-year low set on Friday.Western Canada Select (WCS) heavy blend crude for June delivery in Hardisty, Alberta, traded at $3.70 per barrel below WTI, according to NE2 Canada Inc, narrower than Friday’s settle of … Read more
May 4, 2020 Globe Newswire All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta – Gibson Energy Inc. (“Gibson” or the “Company”) (TSX: GEI), announced today its financial and operating results for the three months ended March 31, 2020. “Gibson delivered strong operational and financial results in the first quarter, driven by the … Read more
By Lorcan Roche Kelly May 4, 2020 (Bloomberg) U.S.-China tensions heat up, investors in risk-off moods and economies slowly get back to business. Here are some of the things people in markets are talking about today. Conclusive report President Donald Trump yesterday promised a “conclusive” report on the Chinese origins of the coronavirus outbreak after Secretary of State Michael Pompeo said there … Read more
SMITHERS, B.C. — Elected chiefs of a First Nation that’s split over a natural gas pipeline through their territories say they will not sign a deal on rights and title, a day after the hereditary chiefs backed the agreement.
The elected chiefs of the W…
By Elizabeth Low and Grant Smith May 4, 2020 (Bloomberg) Oil fell after a three-day rebound as a number of funds shifted away from near-term contracts, fearing a repeat of the meltdown last month that saw prices plunge below zero.Futures fell 8% toward $18 a barrel in New York as investors worried that a massive supply … Read more
May 04, 2020 00:15 ET | Source: Questerre Energy Corporation THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS CALGARY, Alberta, May 04, 2020 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) provided an update on activities during the … Read more
April 30, 2020 | Source: High Arctic Energy Services Inc. NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW CALGARY, Alberta, April 30, 2020 (GLOBE NEWSWIRE) — High Arctic Energy Services Inc. (TSX: HWO) (“High Arctic”, … Read more
By Kevin Orland (Bloomberg) TC Energy Corp. said a federal judge’s decision to block a key permit for the Keystone XL crude oil pipeline last month could delay the project for as much as a year.The Canadian pipeline giant thinks it can overcome the issues presented by the ruling and has been trying to mitigate … Read more
Alberta’s net contribution to Ottawa—more than $94 billion—dwarfed contributions from other provinces in recent years Summary: In studies published in 2017 and 2019, we measured Alberta’s net contribution to Canada’s economy during the most recent economic boom in the province. The first of these studies showed that when it comes to overall economic growth, job … Read more
The Site Rehabilitation Program will provide grants of between 25 and 100 per cent of total project costs!! Gemini Fabrication has crews we can send out to dismantle abandoned facilities, with the capability of dismantling the infrastructure and assessing it for scrap or for refurbishing it. Gemini Fabrication is ASME U AND S certified we … Read more
During these challenging times in the industry companies are looking for ways to save money. Tiamat Solutions newly designed system to filter and recover water during flowback or coil mill outs is more efficient and effective, providing you with cost savings on your completion projects. With our unique design we are able to reduce the … Read more
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
Project Description: The Orion Project is a steam-assisted gravity drainage (SAGD) project consisting of a central processing facility and 43 well pairs located in the Cold Lake oil sands region of Alberta. Between 2016 and 2019, Osum nearly tripled its production through a series of phased brownfield expansions. Today, the Orion facility has the capability to produce more … Read more
Canada’s drilling rig count is up 1 actively drilling rigs according to data collected by Baker Hughes for the week ending May 1, 2020. From one week ago, Alberta rig counts stayed at 16 and the Saskatchewan rig counts stayed at 2. Oil drilling decreased 1 to 7 and gas increased 2 to 20. … Read more
By Morgan Fraser Signage is probably the last thing on your mind when it comes to all the changes you’ve made and have to make in regard to COVID-19. Signage can have a large impact in helping to reduce the spread of COVID-19 and minimize confusion with procedural changes. You will need to consider … Read more
May 1, 2020 North American oil and gas producers have cut their 2020 spending by nearly 34%, or about $41.6 billion, data compiled by Reuters showed, following a slump in crude prices. Since Saudi Arabia and Russia launched an oil price war on March 9, U.S. crude has more than halved to under $20 per … Read more
Join the field service instrumentation experts at VEGA for FREE weekly webinars in May. As a VEGA channel partner, Westech Industrial wanted to share these free webinars with our customers. Each 30-minute session will feature different aspects of proper VEGA level and pressure sensor setup, commissioning, and troubleshooting. Attendees will learn best practices, empowering them … Read more
I hope my note finds you well and that you are safe and sound and protected by your loved ones. At Cadeon, we continue to operate from our office and remotely in both Canada and the USA. Now, more than ever, we need to embrace digital transformation, especially when it comes to: Cyber security Data … Read more
Osperity’s all-in-one OMNI solution empowers organizations to remotely monitor and inspect industrial sites & assets with visual AI-driven event detection and exception-based alerting. Click here to see the benefits and the savings
By Julian Lee (Bloomberg Opinion) Who knows what the new normal for oil demand will be once Covid-19 is firmly in the rear view mirror? Not me, that’s for sure. But it is likely to be lower than it was in 2019, and it could be that way for many years. That’s going to create overcapacity … Read more
By Javier Blas May 3, 2020 (Bloomberg) Few have a better watchtower over oil demand than Joe Gorder, chief executive officer of major U.S. refiner Valero Energy Corp. But this week Gorder didn’t even need his business insight to know that fuel consumption was starting to recover in America. He only needed to look at the … Read more
In partnership with EnergyNow.ca and Empowering Pumps & Equipment, this webinar will explain the various financial support options and resources made available federally and provincially to help exploration and production and oilfield service companies assist their staff, sustain operations and maintain liquidity until oil prices and business activity starts to recover. Major topics will include: … Read more
CALGARY — Like a sports coach coming off a disappointing season, the new head of the agency that regulates Alberta’s heavily challenged energy industry knows he’s got some work to do.
“One (goal) is rebuilding confidence in the leadership internally,”…
May 1, 2020 Reuters U.S. energy firms cut oil rigs for a seventh week in a row as major producers slam the brakes on shale oil production at a time when crude prices and fuel demand have plunged due to global lockdowns to fight the coronavirus pandemic.Drillers cut 53 oil rigs in the week to May … Read more
May 1, 2020 Reuters Canadian heavy crude’s discount narrowed versus the U.S. benchmark West Texas Intermediate (WTI) on Friday to the smallest level in 11 years of records.With hundreds of thousands of Western Canadian barrels shut in due to low oil prices, some refineries are running short of heavy oil, a Calgary-based trader said. Western Canada … Read more
By Lorcan Roche Kelly May 1, 2020 (Bloomberg) The pandemic is likely to last years, less good tech results, and Trump’s campaign against China continues. Here are some of the things people in markets are talking about today. Going nowhere A report from a group of experts at the Center for Infectious Disease Research and Policy at the … Read more
By Elizabeth Low and Alex Longley May 1, 2020 (Bloomberg) Oil headed for its first weekly gain in a month as global production cuts start to lift physical markets and demand shows tentative signs of recovery.Futures in New York rose to near $20 a barrel on Friday and are up about $3 this week. U.S. oil … Read more
By Sandrine Rastello, Jacqueline Thorpe, Sandra Mergulhao and Kevin Orland May 1, 2020 (Bloomberg) The initial shock of the coronavirus shutdown has eased. Now comes an equally hard part for thousands of business owners: figuring out their next move as Canada crawls toward reopening its economy.More than 76,000 companies applied for the Trudeau government’s 75% wage … Read more
Continues to reliably deliver essential energy services across North America May 01, 2020 | Source: TC Energy Corporation CALGARY, Alberta, May 01, 2020 (GLOBE NEWSWIRE) — TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced net income attributable to common shares for first quarter 2020 of $1.15 billion or $1.22 per share … Read more
CALGARY — Imperial Oil Ltd. is slowing or deferring maintenance work throughout its operations as it tries to ensure employee safety in the wake of a COVID-19 outbreak that has infected 83 workers at its Kearl oilsands mine in northern Alberta.
The Ca…
CALGARY — TC Energy Corp. reported a first-quarter profit of $1.15 billion, up from $1.0 billion a year ago.
The company formerly known as TransCanada says the profit amounted to $1.22 per diluted share for the quarter ended March 31 compared with $1….
SMITHERS, B.C. — Hereditary chiefs who oppose a natural gas pipeline in northern British Columbia say they will sign an agreement with the federal and provincial governments that affirms their title and rights.
At the centre of the dispute is Wet’suwe…
Rocky View, Alberta OPEN FOR BIDDING! Featuring: Paper Surge Bin, Mulch Surge Bin, Tire Shredding Machine, Paper Augers, Conveyors, Dual Hammermill, Shredder, 2011 Bobcat S750 Compact Skid Steer, Sullair ES-8 Compressor, and Much More! Bidding Starts Closing: Tuesday, May 5th, 2020 at 10 am (MDT) COVID-19 Precautions and Protocols in Place: Online Bidding Only. Curb-side pick up … Read more
CALGARY — Teck Resources Ltd. is leaving the Canadian Association of Petroleum Producers, an industry organization whose members represent about 80 per cent of Canada’s oil and gas production.
The move was made as part of a cost-cutting drive, Teck sp…
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