EDMONTON — Alberta’s plan to relaunch its economy is taking a hit right out of the starting gate.
The United States-based Fitch rating agency has announced it’s reducing Alberta’s credit rating to AA- from AA.
Fitch cites a concern with sharply higher…
Alimentation Couche-Tard says shopping patterns have changed during COVID-19 lockdowns with consumers purchasing larger-sized goods and stocking up on beer, wine and tobacco products.
The Quebec-based convenience store chain says there has been strong…
LONDON — Energy producer Royal Dutch Shell warned Tuesday it will slash the value of its assets by $22 billion to account for lower oil and gas prices amid the COVID-19 pandemic.
With the virus outbreak hurting the long-term prospects of the global ec…
June 30, 20208:20 AM CNW CALGARY, AB – Altura Energy Inc. (“Altura” or the “Corporation”) (TSXV: ATU) announces a June 30, 2020 asset disposition and provides an update on its credit facility renewal and operations. ASSET DISPOSITION Altura has amended the timing of the second transaction in the December 4, 2019 definitive agreement (the “Amending Agreement”) with a private company … Read more
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 Workers assemble high-pressure pipe at hydraulic fracturing operation near Bowden, Alta. The Canadian Press Canada’s natural resource sector is providing a pathway to economic opportunity for thousands of Canadian newcomers, says a … Read more
By Akshat Rathi Jun 30, 2020 (Bloomberg) Plentiful reserves of fossil fuels and rich seams of valuable minerals are no guarantee of national health, wealth or happiness. The “resource curse” has blighted many countries: Venezuela and the Democratic Republic of Congo, for example, have suffered from years of graft, civil unrest and poverty.After discovering oil in the 1960s, … Read more
By Elizabeth Low and Alex Longley Jun 30, 2020 (Bloomberg) Oil edged lower as the resurgence of the coronavirus in the U.S. continued to dampen the prospects of a broader demand recovery.Futures in New York fell 1.3% toward $39 a barrel. With the coronavirus running rampant across southern and western America and many states pausing or reversing reopening … Read more
June 29, 2020 | Source: Marksmen Energy PROPOSED PRIVATE PLACEMENT EXTENSION OF DEBENTURE CALGARY, Alberta, June 29, 2020 (GLOBE NEWSWIRE) — Marksmen Energy Inc. (“Marksmen” or the “Company”) is pleased to announce the following: Initial Production Results of the Meredith #1 well at Portage County, Ohio – Marksmen has a Joint Operating Agreement with PEP Drilling LLC (“PEP”) … Read more
June 29, 2020 | Source: Arrow Exploration Corp. CALGARY, Alberta, June 29, 2020 (GLOBE NEWSWIRE) — ARROW Exploration Corp. (“Arrow” or the “Company”) (TSXV:AXL) provides the following corporate update. Due to logistics and delays caused by the COVID-19 virus, Arrow is relying on the exemption provided in Alberta Blanket Order 51-517 Temporary Exemption from Certain Corporate Finance … Read more
The long, sub-zero cold stretches during this past drilling season underlined one of the primary problems with liquid emulsifiers for non-aqueous (OBM) drilling fluid systems – when the weather is cold, liquid emulsifiers simply won’t pour. Sure, you can utilize drum heating and handling equipment, but why would you go to that trouble when Polvo … Read more
June 29, 2020 Globe Newswire CALGARY, Alberta – Peyto Exploration & Development Corp. (“Peyto” or the “Company”) (TSX: PEY) announces today an operational update, amended credit and note purchase agreements, and reaffirms its 2020 capital guidance supported by the Company’s sustainable business model. The COVID-19 pandemic has had an unprecedented impact on near term hydrocarbon demand … Read more
June 29, 2020 Globe Newswire CALGARY, Alberta – 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 June 29, 2020 to July 6, 2020. The extension also includes consent from the lenders to expand the Total Debt … Read more
Alimentation Couche-Tard Inc. beat expectations as it capped its fiscal year with profits nearly doubling in the fourth quarter despite a revenue decrease mainly due lower fuel demand because of COVID-19.
The Laval, Que.,-based convenience store opera…
Edmonton, AB (June 29, 2020) – GeoVerra, one of the country’s largest geomatics firms with offices in Western Canada and Ontario, opened its doors for business on Monday as the transaction between Altus Group and WSP closed this past weekend. As part of the transaction, the country’s leading geomatics providers were carved out from the two … Read more
June 29, 2020 Newsfile Vancouver, British Columbia – Hemisphere Energy Corporation (TSXV: HME) (“Hemisphere” or the “Company”) is pleased to announce that the TSX Venture Exchange (the “TSXV”) has accepted the Company’s Notice of Intention to renew its Normal Course Issuer Bid (the “NCIB”) to purchase for cancellation, from time to time, as Hemisphere considers advisable, … Read more
By Elizabeth Low and Grant Smith Jun 29, 2020 (Bloomberg) Oil steadied in New York as the boost from a weaker dollar offset concerns that the resurgence of coronavirus will crimp fuel demand. Futures held above $38 a barrel, recouping earlier losses of 2.6% as the slide in the U.S. currency made dollar-priced commodities an attractive … Read more
GRANDE PRAIRIE, Alta. — Premier Jason Kenney says his government’s blueprint to reboot Alberta’s distressed economy will be announced Monday in Calgary.
“It will be a bold and ambitious plan to make strategic investments to get people working right no…
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 27 energy and energy service companies with regular updates. He holds quarterly subscriber webinars and provides Action BUY and SELL … Read more
The Canadian Energy Research Institute is excited to announce that delegates can now attend this year’s conference virtually. Same great speakers, content and live interaction, just a bit of distance! Virtual delegates will have access to the following: Two full days of conference programming Wednesday night fireside chat with The Honourable Christy Clark and Todd … Read more
i2i is a sensor technology company that is re-inventing pipeline inspection by integrating smart sensors with the simplicity of a utility pig design. This has created a cost-effective and versatile inspection tool that offers excellent data on your pipeline assets, helping you make decisions for maintenance and integrity planning. As a rule of thumb, if you can run … Read more
Barium sulfate deposits have long plagued oil field and gas production operations. These scales interfere with fluid flow, enhance corrosion, cause production losses, result in equipment replacement, damage equipment and may host bacteria. Scales can develop in the formation pores near the wellbore – reducing formation porosity and permeability. It can block flow by clogging … Read more
At Westech, we provide industry-leading integrated solutions to a wide range of sectors that make operations more efficient, more productive and safer. We bring together a team of dedicated professionals that will provide innovative turnkey solutions that address a client’s full range of needs. Our main focus is to design and implement state-of-the-art and practical … 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
By Magnus Gustafsson Why do outlet collectors only rarely fail, even when subjected to pressure-drops well above the design basis of the collector? The answer lies in the design approach which incorporates simplifying assumptions to accommodate a tractable and conservative approach. These conservatisms can be relaxed where necessary to give results much more in line … Read more
Scott DiSavino June 26 (Reuters) – U.S. and Canadian energy firms cut the number of oil and natural gas rigs operating to a record low again this week even as higher oil prices prompt some producers to start drilling again. The U.S. oil and gas rig count, an early indicator of future output, fell by … Read more
by Grady Semmens Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Employees at Ballard Power Systems in Burnaby, B.C. receiving service training for hydrogen fuel cell modules. Photograph supplied for Canadian Energy Centre Work is underway from British Columbia to Quebec as dozens of engineers, automobile designers and … Read more
Canada’s drilling rig count is down 4 actively drilling rigs according to data collected by Baker Hughes for the week ending June 26, 2020. From one week ago, Alberta rig counts decreased 2 to 5 and the Saskatchewan rig counts stayed at 2. Oil drilling decreased 1 to 4 and gas decreased 3 to 9. … Read more
by Mark Milke and Lennie Kaplan Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Safety crew worker Brian Wilson near the starting point of the Coastal GasLink pipeline project, near Dawson Creek B.C. Photograph for Canadian Energy Centre “In less than a decade, the Haisla Nation has leveraged … Read more
Tara Weber BNN Bloomberg Western Correspondent Adapt or die. That could very well be the mantra of Canada’s energy sector right now. The ground has been shifting for almost five years, but with this year’s short-lived Saudi-Russia price war and the devastating demand destruction caused by COVID-19, an entirely different landscape is starting to take … Read more
June 26, 2020 Globe Newswire CALGARY, Alberta – Toscana Energy Income Corporation (“Toscana” or the “Corporation”) (TSX: TEI) announces financial and operating results for the first quarter ended March 31, 2020. Financial and operating results: This news release summarizes information contained in the Condensed Consolidated Interim Financial Statements (unaudited) and Management’s Discussion and Analysis (“MD&A”) for the three … Read more
EDMONTON — Alberta’s public inquiry into whether foreign money is bankrolling anti-oil protests in Canada is going into overtime.
Energy Minister Sonya Savage says the initial findings from the inquiry’s commissioner, Steve Allan, show more work is ne…
by Gregory John Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Former chief councillor of Haisla Nation and current B.C. MLA Ellis Ross. An immediate green shift away from oil and gas could rob many Canadian First Nations of a prosperous future, says an outspoken Indigenous leader and … Read more
by Deborah Jaremko Marty Reed, CEO of Evok Innovations, funding emerging clean-tech technologies. Photograph by Chung Chow/Business in Vancouver Marty Reed knows it is unusual for an established Silicon Valley venture capitalist to abandon the headquarters of tech to set up shop in Canada, but it’s something he did happily five years ago. Driven by … Read more
Updated by Shawn Logan For many, the Coastal GasLink pipeline is nothing more than a winding route on a map, its 670 kilometres of steel connecting northeastern B.C. to the west coast, not far from Alaska’s southernmost tip. For the men and women of Duz Cho Construction, fully owned and operated by the McLeod Lake Indian Band north of Prince … Read more
By Low De Wei and Alex Longley Jun 26, 2020 (Bloomberg) Oil headed for a weekly decline — only the second since April — as a surge in U.S. coronavirus cases clouded the demand outlook, though the pessimism was tempered by huge cuts to Russia’s seaborne crude exports.Futures in New York rose near $39 a barrel on Friday, … Read more
By Kevin Orland Jun 25, 2020 (Bloomberg) Enbridge Inc. was ordered to temporarily halt operations of its Line 5 crude oil pipeline by a Michigan judge, handing a victory to state officials who have sought to shut down the conduit.Circuit Court Judge James Jamo ruled Thursday against the continued operation of the conduit’s west line and prevented it … Read more
By Frances Schwartzkopff Jun 25, 2020 (Bloomberg) If you really want to reform the fossil-fuel economy, you have to do it from the inside, according to the head of investments at Danske Bank A/S’s $70 billion pension fund.Poul Kobberup, chief investment officer at the Danica fund, says just buying green assets isn’t enough. Institutional investors need … Read more
June 25, 2020 CNW CALGARY, AB and LANSING, MI – Today a Michigan Circuit Court issued a Temporary Restraining Order requiring Enbridge (TSX: ENB) (NYSE: ENB) to shut down Line 5 through the Straits of Mackinac within 24 hours until a hearing on the State’s request for preliminary injunction can be held Tuesday, June 30, 2020 and a ruling made on the preliminary injunction. … Read more
CALGARY — Calfrac Well Services Ltd. is reporting a sharply deeper loss on lower revenue as demand for its oil and gas well completion services slumped in the first quarter.
The Calgary-based company’s net loss jumped to $123 million or 85 cents a sha…
VANCOUVER—New government spending in response to the recession will likely have little effect on economic growth—yet will produce more government debt, finds a new study released today by the Fraser Institute, an independent, non-partisan Canadian public policy think-tank. “In the coming months, as governments contemplate trying to kickstart the economy with more spending, they should … Read more
June 25, 2020 Reuters Canadian pipeline operator Enbridge Inc has to halt Line 5 operations and disclose information related to the recent damage caused to a part of the oil pipeline, a Michigan circuit court judge ordered on Thursday.The company has been asked to keep the damaged east line of the pipeline shut and also close … Read more
June 25, 2020 Globe Newswire CALGARY, Alberta- Baytex Energy Corp. (“Baytex”)(TSX, NYSE: BTE) provides a corporate update that includes the resumption of previously shut-in crude oil production. “As the global supply and demand picture continues to unfold, crude oil prices have strengthened from their lows in April and we are now starting to benefit from the … Read more
CALGARY — Baytex Energy Corp. says it is responding to higher oil prices by bringing back on line some of the wells it had shut down in April and May to avoid selling into an oversupplied market.
The Calgary-based producer says it has restored about 2…
June 25, 2020 Reuters U.S. energy companies slammed the brakes on returning staff to their Houston offices as COVID-19 cases soared and top hospitals warned they could soon run out of beds for the most severely ill patients. A record number of new illnesses in Texas this week spurred local officials to impose restrictions as new … Read more
By Low De Wei and Alex Longley Jun 25, 2020 (Bloomberg) Oil extended declines after swelling U.S. crude stockpiles and a surge in coronavirus cases across the nation raised concerns about demand in the world’s largest economy.Futures in New York slipped 0.6% to below $38 a barrel, after the biggest fall in almost two weeks on … Read more
By Will Mathis and Akshat Rathi Jun 25, 2020 (Bloomberg) On particularly cold winter days, the vast majority of the U.K.’s energy comes from burning natural gas. That arrangement will have to change radically—and soon—if the country is to hit its legally mandated target of net-zero emissions by 2050. As other countries adopt similar targets to align … Read more
Robert Rapier Energy This week BP released its Statistical Review of World Energy 2020. The Review covers energy data through 2019, and provides a comprehensive picture of supply and demand for major energy sources on a country-level basis. This annual report is one of the most important sources of global energy data. It is a … Read more
June 24, 2020 | Source: Parex Resources Inc. NOT FOR DISTRIBUTION OR FOR DISSEMINATION IN THE UNITED STATES CALGARY, Alberta, June 24, 2020 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX:PXT), a company headquartered in Calgary, Alberta and focused on Colombian oil exploration and production, provides an operational update. All currency amounts are in … Read more
June 24, 2020 | Source: Delphi Energy Corporation CALGARY, Alberta, June 24, 2020 (GLOBE NEWSWIRE) — Delphi Energy Corp. (“Delphi” or the “Company”) announces that it has filed its interim financial statements and related management’s discussion and analysis for the three months ended March 31, 2020 with the Canadian securities regulatory authorities on SEDAR. About Delphi Energy Corp. Delphi Energy Corp. … Read more
June 24, 2020 Reuters When BP slashed its long-term oil price outlook last week, prospects in Canada and Angola were rendered worthless, company sources and analysts said, exposing broader risks the industry faces as the world pivots to low-carbon energy.The $17.5 billion write-down, part of Chief Executive Bernard Looney’s drive to wean BP off fossil fuel, … Read more
OSLO (Reuters) – Norway is planning a major expansion of oil exploration in the Arctic, despite commitments to tackling global warming and opposition from environmental groups. Minister of petroleum and energy Tina Bru said on Wednesday the expansion was needed to protect jobs and generate wealth. The government will auction up to 136 new oil … Read more
By Sharon Cho and Alex Longley Jun 24, 2020 (Bloomberg) Oil fell in New York after an industry report signaled another increase in U.S. crude stockpiles, and easing physical markets are making it hard to sustain a recent rally.Futures dropped 2.2%, falling for a second session. The American Petroleum Institute reported that inventories rose by 1.75 … Read more
By Kevin Crowley and Catherine Ngai Jun 24, 2020 (Bloomberg) As oil prices tick up to $40 a barrel following a pandemic-induced plunge, there’s a sense the shale industry is snapping back to life with Continental Resources Inc., EOG Resources Inc. and Parsley Energy Inc. all saying they’re restarting closed wells. But top industry forecasters are painting … Read more
June 23, 2020 ET | Source: Parkland Corporation (All financial figures are approximate and in Canadian dollars unless otherwise noted) NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES CALGARY, Alberta, June 23, 2020 (GLOBE NEWSWIRE) — Parkland Corporation (“Parkland”, “we”, the “Company”, or “our”) (TSX:PKI), announced today the closing of its previously … Read more
By Matt Day and Candy Cheng Jun 23, 2020 (Bloomberg) Amazon.com Inc. is investing $2 billion on “sustainable and decarbonizing technologies” in an effort to eliminate its carbon footprint.The fund, which will be run by the company’s internal sustainability team and aided by Amazon’s corporate development group, will have a mandate to back technologies being developed … Read more
By Kevin Orland and Robert Tuttle Jun 23, 2020 (Bloomberg) The shortage of pipeline space that has hamstrung Canada’s oil producers for years may finally be over — just not in the way they had hoped.The pandemic-induced oil crash prompted Canadian companies to cut about 1 million barrels of daily crude output, freeing up space on … 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. 15 Weeks ago, we left our offices for the weekend, not knowing that … Read more
Watch Now – Click HERE SAP customers must decide if they’ll migrate to S/4HANA now, given the planned 2027 end-of-support deadline, or gain the flexibility and time to choose a roadmap and next-generation system that best fits their needs. A new IDG global survey reports that 85% of SAP customers surveyed plan to continue running … Read more
Falcon Equipment Ltd. is excited to announce that we are the exclusive dealer of Beauroc Inc., throughout British Columbia, Alberta, Saskatchewan and Manitoba. We are committed to a continued evaluation of our product offerings to ensure that we are providing our customers the options required to get the job done. Beauroc was founded in 1985 … Read more
Dual Telemetry MWD System: The main goal is to provide redundancy to reduce NPT. The two MWD system piggy-back an EM system with a separate Mud Pulse system and in some cases effectively doubling the operating cost of the deployed system. In a dual telemetry system, MWD tools usually combine an early generation EM … Read more
The Challenge In a world of low commodity prices and reduced demand, oil and gas producers are looking for solutions that lower cost while increasing project certainty. Scovan Engineering’s design philosophy is providing answers to this challenge. Scovan’s uses an efficient and effective approach from design through to execution, by modularizing the installation to the … Read more
The focus on companies’ environmental, social and governance (ESG) performance from the investor community is increasing. This trend is expected to accelerate as pressing social and environmental issues intensify, disrupting economic activity and society at large. With increasing information demands on companies, it is crucial to understand the ESG focus from investors, their information requirements … Read more
For all of your communication needs, trust the team at CDN Controls! As an industrial communication provider, we specialize in the design and installation of mobile and fixed networks for the oil and gas industry. From start to finish, we can handle every step along the way. CDN Controls can take care of all your … Read more
EDMONTON — Alberta industries, including the oilpatch, will resume environmental monitoring and reporting in three weeks.
The Alberta government and its energy regulator have each issued orders for reporting to resume on July 15.
Testing and reporting…
The world’s energy systems are changing but the consensus is that the world will continue to rely on fossil fuels for decades to come because they are low-cost, reliable sources of feedstocks, process energy and power. In this energy evolution, what role will the Canadian petrochemical sector play? The CERI 2020 Petrochemical Conference will look … Read more
Join PetroChem Canada for their first Webinar in a series, featuring EnerChemTek’s Mitchell Halpern. The topic “Engage and Escape: Using Scenario Planning and Innovation Management to Combat Commoditization. Register at https://lnkd.in/dxhY6VD.
June 23, 2020 EDMONTON, Alberta – Capital Power Corporation (TSX: CPX) (Capital Power or the Company) announced today that it is moving forward with the third phase of the Whitla Wind facility (“Whitla Wind 3”) that will add 54 megawatts (MW) in late 2021. The Whitla Wind facility is located in the County of Forty Mile … Read more
June 22, 2020 CNW Inspections show no damage to twin pipelines CALGARY, AB and LANSING, Mich. – Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge) said today the temporary restraining order and preliminary injunction sought by the Attorney General of Michigan is legally unsupportable, unnecessary, and will be vigorously opposed by Enbridge. Enbridge understands the importance of the Great Lakes to the … Read more
June 22, 2020 CALGARY, AB – OBSIDIAN ENERGY LTD. (TSX: OBE) (OTCQX: OBELF) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) is pleased to provide a corporate and operational update. Message to Shareholders We are pleased to report that Obsidian Energy has quickly adapted to the challenging environment over the past few months by taking prudent … Read more
June 23, 2020 CNW CALGARY, AB – Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX: CPG) (NYSE: CPG) has released its 2020 Sustainability Report (the “Report”) highlighted by an emissions intensity reduction target of 30 percent by 2025. The Report outlines the Company’s latest progress and commitment to strong environmental, social and governance (“ESG”) performance. … Read more
By Laura Millan Lombrana and Rachel Morison Jun 23, 2020 (Bloomberg) The electric vehicle sector has been stuck for years with a chicken-and-egg problem. Until there were extensive networks of public charging stations, a critical mass of people would never feel comfortable driving EVs—but until a critical mass of people were driving EVs, there was no sense in … Read more
Oil resumed gains, clinging to a three-month high as signs of improving demand buoyed a market momentarily roiled by confusion over U.S.-China trade. Futures in New York rose 0.4% after President Donald Trump said the deal with Beijing was “fully intact” following remarks from a trade adviser that were interpreted as an end to the agreement. After … Read more
June 23, 2020 | Source: Toscana Energy Income Corporation CALGARY, Alberta, June 23, 2020 (GLOBE NEWSWIRE) — Toscana Energy Income Corporation (Toscana or the Company) (TSX: TEI) is pleased to announce that i3 Energy plc (i3 Energy), an AIM-listed oil and gas company with assets and operations in the United Kingdom, has elected to exercise the option granted … Read more
REGINA — Hundreds of workers at Regina’s Co-op oil refinery complex will be returning to work after ratification of a tentative contract.
The agreement brings an ends to a six-month labour dispute that began after refinery owner Federated Co-operative…
June 22, 2020 All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta – Gibson Energy Inc. (“Gibson” or the “Company”) (TSX: GEI), announced today that it will issue $650 million of senior unsecured medium term notes (the “Offering”) consisting of $325 million of 2.45% notes with a maturity date of five years … Read more
CALGARY — Natural Resources Minister Seamus O’Regan says achieving the Trudeau government’s target of net-zero carbon emissions by 2050 is a “moon shot” — but it’s not a case of randomly throwing out ideas.
During last fall’s election campaign, the fe…
June 22, 2020 Globe Newswire CALGARY, Alberta – Canadian Natural Resources Limited (“Canadian Natural” or the “Company”) announces that on June 22, 2020, the Company priced the following US$ unsecured notes: Note / Coupon Principal Maturity Price per Note Yield to Maturity 5 year / 2.05% US$600,000,000 July 15, 2025 US$99.832 2.085% 10 year / 2.95% … Read more
June 22, 2020 CALGARY, AB – Prairie Storm Energy Corp. (“Prairie Storm” or the “Corporation“) wishes to announce that a group of investors comprised of management, directors and employees of Prairie Storm (“Insiders“) and certain other investors external to the Corporation (“New Investors“) have completed the purchase of all of the issued and outstanding shares of the … Read more
MACKINAW CITY, Mich. — Michigan’s attorney general on Monday asked a judge to shut down a pipeline in the Great Lakes after an energy company discovered that an anchor support had shifted deep below the surface.
Enbridge Inc. insists the Line 5 pipeli…
June 22, 2020 Canadian Energy Network A new report from the Swedish-funded Stockholm Environment Institute is hoping to steer energy policy makers in Canada away from supporting new oil and gas developments. The report looks at the risks associated with new oil and gas developments in Canada. Its long-term supply and demand analysis is especially helpful—many industry leaders, … Read more
CALGARY — Oil and gas producer Bonavista Energy Corp. is proposing a deal with lenders that would eliminate about half of its outstanding debt but leave existing shareholders with only seven per cent of the company.
Shares in the mid-sized Calgary-bas…
June 22, 2020 CALGARY, AB – Surge Energy Inc. (“Surge” or the “Company”) (TSX: SGY) provides a corporate update, confirmation of a redetermination under the Company’s reserves-based credit facility (the “Credit Facility”), and a technical update in regards to the Company’s Sparky core area. CORPORATE UPDATE – MACRO ENVIROMENT FOR OIL IMPROVING In 2019, with … Read more
By Julian Lee (Bloomberg Opinion) Remember negative oil prices and the fear that every storage tank on the planet would get filled to the brim? That seems a long time ago, with West Texas Intermediate crude now hitting $40 a barrel and the buildup of stockpiles poised to go into reverse. The warning sent by that trip below zero was … Read more
by Franco Terrazzano, Canadian Taxpayers Federation The Fair Deal Panel’s report had two key takeaways: Albertans are tired of being treated as the cash cow for politicians in other provinces, and there is no fair deal for Albertans until we tackle equalization. About two thirds of Albertans think we aren’t getting our fair share from … Read more
By Alex Longley Jun 22, 2020 (Bloomberg) Oil held near $42 a barrel in London as investors weighed signs of rebounding demand against a resurgence in new coronavirus cases. A rise in coronavirus cases in Germany and the recent jump in China are underpinning the difficulty for oil consumption to return to levels seen before the pandemic. Still, … Read more
June 19, 2020 | Source: Petrus Resources Ltd. CALGARY, Alberta, June 19, 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 June 22, 2020 to June 29, 2020. The Company continues to be … Read more
Alberta-based Enbridge says it has reopened a branch of pipeline beneath the water separating two Great Lakes after an inspection revealed no damage, but another parallel branch of the line remains closed due to shifting observed in its anchor assembl…
Updated by Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Jocelyn Bamford, vice-president Automatic Coating Ltd., and founder of Coalition of Concerned Manufacturers and Businesses of Canada, is photographed in Toronto, Ontario on Friday, June 12, 2020. Photograph for Canadian Energy Centre Jocelyn Bamford is worried … Read more
This column is an opinion from Dr. Michelle Corfield, Jennifer Turner, Dr. Harrie Vredenburg and Liana Wolf Leg, all with Project Reconciliation. A show of support in January for the Wet’suwet’en Nation in Smithers, B.C. We need to avoid a ratcheting up of the acrimonious environmental activist-Indigenous pipeline protests, say the authors. (Darryl Dyck/The Canadian … Read more
Plant safety and process reliability often rely on analytical instruments operating correctly, which means sensors must be kept in good condition. This requires regular maintenance and servicing. But knowing exactly when to maintain, service or replace a probe has been very imprecise. Cutting-edge measurement systems that utilize intelligent sensors that learn from your processes, take … Read more
Tundra’s Service Centre provides repairs on all types of Relief Valves. Along with being ABSA and National Board-certified, Tundra’s qualified Technician’s meet the highest level of industrial expertise standards. Thanks to the team of folks who work hard to keep this centre running safely and efficiently at all times! Want to learn more about Tundra’s … Read more
Reclaimed wellsite in Southern Alberta Bragg Creek, Alberta, is known for its picturesque landscape, amazing hiking trails and historic buildings. What many don’t realize is that it also sits upon an area that has been producing oil and gas in the province for years. In 2017 our customer intended to close one of their wellsites … Read more
Mel Larson, formerly Principle Consultant at KBC Advanced Technologies has joined the Becht team. With over 40 years of experience in refining and technical consulting working for Marathon and KBC, Mel is an FCC/ Alky SME as well as has extensive business planning and optimization expertise. He has broad experience consulting internationally including South Korea, … Read more
With businesses reopening and companies considering going back to the office, the signage requirements and protocol changes can be overwhelming. To help ease this transition, we’ve compiled a list of common COVID-19 products and layouts. We’re happy to provide consultation on the specific needs for your space while you navigate through all the protocol changes. … Read more
By: Di-Corp Oilfield Staff Effective rig and equipment cleaning is vital to maintain high safety and environmental standards, as well as efficient oil production. During drilling operations, cleaning is an important part of the safety regime because it helps to remove the excess grease, oil, sludge, and other substances that can be dangerous to employees working … Read more
Got service rigs? Drillform has an extensive line of automated service rig catwalks designed to fit your needs. Advanced Offering innovative next-generation drilling solutions and practical design principles that will seamlessly integrate with existing rig automation. Efficient Superior automation and operational proficiency result in maximized rig performance. Safety-focused Designed with safety as a primary objective, … Read more
CALGARY — The number of orphan wells in British Columbia has more than doubled thanks to the failure of one oil and gas company.
The BC Oil and Gas Commission says it has designated 401 wells and three facilities formerly owned by Calgary-based Ranch …
June 19, 2020 Globe Newswire CALGARY, Alberta – Cardinal Energy Ltd. (“Cardinal“) (TSX: CJ) announces that 99.54% of the holders of our 5.50% convertible debentures that voted at the extraordinary meeting of debentureholders held earlier today have voted in favour of a resolution approving certain amendments to the debentures. As a result, all debentureholders now … Read more
We’re at a moment of economic stress, with competing visions for how Canadian society should return to normalcy through the pandemic crisis. Stewart Muir looks at the situation. Road to pandemic recovery It’s plain to see that pursuing successful recovery means choosing responsible utilization of the natural resources owned by each province. Now more than … Read more
The Trudeau government recently announced details of its loan program for large corporations called the Large Employer Emergency Financing Facility (LEEFF), which provides financing to firms unable to secure loans from banks and other private lenders. However, to access the program, companies must commit to contribute to Canada’s Paris Accord climate agreement and the national goal of … Read more
A member of the Canadian Petroleum Hall of Fame and the Order of Canada, who was well known for his contributions to both his industry and his community, died Wednesday in Calgary. Charlie Fischer was 70. A native of Saskatoon, Sask., he graduated from the University of Calgary in 1971 with a Bachelor of Science degree in chemical engineering and earned a … Read more
Canada’s drilling rig count is down 4 actively drilling rigs according to data collected by Baker Hughes for the week ending June 19, 2020. From one week ago, Alberta rig counts decreased 4 to 7 and the Saskatchewan rig counts stayed at 2. Oil drilling decreased 2 to 5 and gas decreased 2 to 12. … Read more
Posted by Terry Etam in Industrial Energy “I was very sad to see so-called progressives attempting to stifle free expression and secretly emailing allies in the movement to have the film taken down. It is disgraceful, pathetic, enraging and cowardly. It is also contrary to the values of anyone that considers themself [sic] an artist, filmmaker or journalist.” … 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 even as higher oil prices prompt some producers to start drilling again. The U.S. oil and gas rig count, an early indicator of future output, fell to a record low for a … Read more
Canadian exports of crude oil by rail dropped by more than half in April compared to March as North American fuel demand plunged due to measures taken to control the COVID-19 pandemic.
The Canada Energy Regulator says rail shipments of oil in April fe…
OTTAWA — Environment Minister Jonathan Wilkinson is scaling back the government’s planned Clean Fuel Standard in the short term to give the fossil fuel industry a bit more time to recover from the pandemic-induced economic collapse.
But to make up for…
By Javier Blas Jun 19, 2020 (Bloomberg) OPEC+ is “on the right track” to re-balance the global oil market but still has “a long way to go,” Saudi Energy Minister Prince Abdulaziz bin Salman said on Thursday at the group’s Joint Ministerial Monitoring Committee. NOTE: Prince Abdulaziz’s comments are according to his introductory remarks made at … Read more
June 19, 2020 Newsfile Calgary, Alberta – Bonavista Energy Corporation (TSX: BNP) (“Bonavista” or the “Company“) announced today a proposed recapitalization transaction (the “Recapitalization Transaction“) designed to balance the capital structure and strengthen the Company’s overall financial position. The Recapitalization Transaction would, among other things, reduce the Company’s total outstanding debt by approximately $482.6 million (representing … Read more
By Alex Longley and James Thornhill Jun 19, 2020 (Bloomberg) Oil rallied as stronger consumption continued to push physical markets higher, even as many countries struggle to bring the coronavirus under control.Futures in New York traded above $40 a barrel on Friday and are up about 11% this week. Oil traders Vitol Group and Trafigura Group and exporter … Read more
OTTAWA — Mid-sized Canadian businesses that are strapped for cash because of COVID-19 can now apply through their own banks to get loans of up to $60 million from the federal government.
The loans, to be administered by the Business Development Bank o…
By Matthew Martin, Anthony Di Paola and Javier Blas Jun 18, 2020 (Bloomberg) Saudi Aramco, the world’s biggest oil exporter, has begun cutting hundreds of jobs as it looks to reduce costs after a slump in energy prices, according to people familiar with the matter.Aramco is letting go of mostly foreign staff across several divisions, with … Read more
REGINA — The end could be in sight for a bitter labour dispute between the union and owner of Regina’s oil refinery complex, as both sides say they’re reached a tentative contract deal.
Federated Co-operatives Ltd. announced the deal Thursday morning,…
By Danielle Bochove Jun 18, 2020 (Bloomberg) The heads of 27 Canadian companies, including the CEOs of two large banks and Brookfield Asset Management Inc., are urging Prime Minister Justin Trudeau and provincial premiers to ease air travel restrictions.Most international flights have been canceled and the U.S.-Canada border has been shut to most travelers since March … Read more
Fraser Institute Is Canada’s existing system of federal transfers designed to respond adequately to economic volatility across the country and more precisely to rapid changes in relative income levels across provinces? The purpose of this paper is to investigate this question and to identify dimensions and characteristics of existing programs and rules that may inhibit … Read more
June 18, 2020 CNW CALGARY, AB, June 18, 2020 /CNW/ – Tamarack Valley Energy (“Tamarack” or the “Company”) (TSX: TVE) is pleased to announce that our bank syndicated credit facility has been redetermined at $275 million, of which the company was drawn approximately $209 million as of June 18th, 2020. The Company has ample liquidity for the remainder of 2020 and expects … Read more
June 18, 2020 | Source: Marksmen Energy CALGARY, Alberta, June 18, 2020 (GLOBE NEWSWIRE) — Marksmen Energy Inc. (TSXV: MAH) (OTCQB: MKSEF) (“Marksmen” or the “Company”) announces that it has filed disclosure documents for the three months ended March 31, 2020 on SEDAR as listed below: Unaudited Financial Statements Management’s Discussion and Analysis CEO certificate of interim filings … Read more
June 18, 20205:00 AM CNW CALGARY, AB – Pioneer Pipeline Disposition – Definitive Agreement Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation“) (TSX: TWM) is pleased to announce that, with its partner TransAlta Corporation (“TransAlta“), it has entered into a definitive Purchase and Sale Agreement with respect to the previously announced sale of the Pioneer Pipeline … Read more
By Alex Longley Jun 18, 2020 (Bloomberg) The oil market showed signs of tighter supply as key gauges of its health rallied, although concerns remain over a resurgence in coronavirus cases in China and the U.S. Futures in London and New York gained, while Brent for August was trading above the September contract, a sign of … Read more
By Kevin Orland Jun 17, 2020 (Bloomberg) Ovintiv Inc., the oil and gas producer that moved its headquarters out of Canada earlier this year, is laying off staff across North America as it reduces drilling activity.The layoffs are coming roughly equally from the company’s offices in Calgary, Denver and The Woodlands, Texas, as well as from field … Read more
June 17, 2020 CALGARY, Alberta – Toscana Energy Income Corporation (“Toscana” or the “Corporation”) (TSX: TEI) announces that, further to its May 14, 2020 news release, Toscana will be postponing its reporting of the Corporation’s first quarter financial statements, accompanying management’s discussion and analysis, and related certifications for the period ended March 31, 2020 (the “Q1 Filings”), … Read more
June 18, 2020 Franco Terrazzano Businesses need help, but it’s important to provide the right help the right way. Premier Jason Kenney’s economic strategy has so far revolved around three core principles: lowering taxes, cutting red tape and pushing back against Ottawa. Kenney should double down on these principles to help Alberta recover and stay away … Read more
FOR IMMEDIATE RELEASE Calgary, June 18, 2020 – As university students across Canada express a growing displeasure with the polarized battles over COVID-related government aid for oil and gas companies, two Edmonton graduate students are doing something about it – and they’re asking others to join them. Skye Lybbert and Daniel Baker, both MSc candidates … 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 28 energy and energy service companies with regular updates. He holds quarterly subscriber webinars and provides Action BUY and SELL … Read more
CALGARY — Enbridge Inc. says 800 employees have voluntarily left the company, allowing it to avoid layoffs as it cuts costs to counter impacts from COVID-19 and lower global oil prices.
The Calgary-based pipeline company announced in May it would defe…
REGINA — Saskatchewan’s premier says he and other provincial leaders have asked Ottawa for more flexibility on $14 billion in transfer funds to help people returning to work during the COVID-19 pandemic.
Scott Moe says most initiatives in Prime Minist…
VANCOUVER — Coastal GasLink says it is ready to launch its summer construction program in British Columbia, which will see the first section of pipe buried in the ground next month.
The company says in a statement that construction also begins this su…
Updated by Grady Semmens on June 16, 2020 Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Brent Willey, director of international operations for Iconic Energy Solutions. Photograph supplied for Canadian Energy Centre For more than 25 years, Brent Willey has been working with companies across the energy industry … Read more
by Ven Venkatachalam and Mark Milke Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Fatih Donmez, Turkish Energy and Natural Resources Minister attends the flare lighting ceremony of Bati Celtik-1 new natural gas well in Silivri district of Istanbul, Turkey on February 11, 2019. (Photo by Celal Gunes/Anadolu … Read more
OTTAWA — The Canadian Association of Petroleum Producers says if bridge loans for smaller oil and gas companies aren’t ready to flow soon some companies will have to turn to less-safe options to survive the COVID-19 slowdown.
Ben Brunnen, CAPP’s vice-…
June 17, 2020 Reuters U.S. shale producers are expected to restore roughly half a million barrels per day (bpd) of crude output by the end of June, according to crude buyers and analysts, amounting to a quarter of what they shut since the coronavirus pandemic cut fuel demand and hammered oil prices.Such a swift rise in … Read more
By Dan Murtaugh Jun 16, 2020 (Bloomberg) Spending on renewable power is set to overtake oil and gas drilling for the first time next year as clean energy affords a $16 trillion investment opportunity through 2030, according to Goldman Sachs Group Inc.Renewables including biofuels will account for about a quarter of all energy spending next … Read more
By Ann Koh and Alex Longley Jun 17, 2020 (Bloomberg) Oil pared an earlier decline as equities rose, shrugging off some concerns about a second wave of coronavirus cases in China.Futures in New York were 0.7% lower, after falling as much as 3.1%. Stock markets in Europe gained as traders looked at stimulus measures to help … Read more
By Anthony Di Paola Jun 17, 2020 (Bloomberg) The world’s biggest oil exporter is hitting the brakes in developing some of its crude and natural gas deposits, idling two offshore drilling rigs as the coronavirus batters energy use.State-run producer Saudi Aramco has suspended work at the two platforms for about a year, according to filings from … Read more
June 16, 2020 | Source: Parkland Corporation (All financial figures are approximate and in Canadian dollars unless otherwise noted) NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES CALGARY, Alberta, June 16, 2020 (GLOBE NEWSWIRE) — Parkland Corporation (“Parkland”, “we”, the “Company”, or “our”) (TSX:PKI), announced today that it has entered into … Read more
Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Wednesday Word to the Wise in your inbox, subscribe here. As more attention is given to the energy industry in Canada from increasingly … Read more
COVID-19 has transformed the way we work and how the traditional workplace is viewed. As governments begin to reopen the economy and set out guidelines for organizations to follow in the return to work process, employers will need to consider how and where work can be performed and how to respond to the concerns that … Read more
“We moved to Rimini Street because the risks were low and we knew the financial savings would be a huge benefit. After we experienced far better support than what we had before, our decision was validated, and we’ve since significantly expanded our global footprint through Rimini Street support .” Simon Lytton, Global Applications Director, BrandSafway … Read more
V46A Features Packing Bolt permits packing adjustment externally. Chevron PTFE packing design provides far improved sealing integrity. Packing below stem threads is to isolate threads from system fluid and lubricant washout. Non-rotating stem tip at closure for long-life and leak-tight shutoff. Lock plate ensures the valve fastened to the body. NACE MR0175/ISO 15163-3 applicable Pressure … Read more
EDMONTON — Shutting down a broad range of Alberta’s environmental monitoring over pandemic fears wasn’t necessary, says the head of a group responsible for such work.
Most monitoring could have been done safely, says Jay White, president of the licenc…
Over the past decade, prices for solar panels and wind farms have reached all-time lows. However, the price for lithium ion batteries, the leading energy storage technology, has remained too high. So researchers are exploring other alternatives, including flow batteries, thermal batteries, and gravity-based systems. CORRECTION (March 14, 2020): At 12:53 we incorrectly identify the … Read more
June 15, 2020 CNW CALGARY, AB – Highwood Oil Company Ltd. (TSXV: HOCL) (“Highwood” or the “Company“) announces that the Red Earth Divestiture initially announced February 18, 2020 has been terminated. Highwood received notice on May 1, 2020 from the Alberta Energy Regulator (“AER“) that the Red Earth license transfer application had been rejected. The AER had previously provided their conditional … Read more
June 16, 2020 PR Newswire NEW YORK, June 16, 2020 /PRNewswire/ — OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced Obsidian Energy Ltd. (TSX: OBE; OTCQX: OBELF), an oil and gas producer in Western Canada, has qualified to trade on the OTCQX® Best Market. Obsidian … Read more
By Grant Smith Jun 16, 2020 (Bloomberg) Global oil demand will rebound next year as the world emerges from the coronavirus pandemic, but recovering to pre-crisis levels may take a couple of years, the International Energy Agency said.Fuel use around the world will remain 2.5% lower next year than in 2019, largely because of the “the … Read more
June 15, 2020 Reuters Canadian heavy crude’s discount narrowed versus West Texas Intermediate (WTI) on Monday, remaining in a narrow range despite lower inventories.Crude oil inventories in Western Canada stood at 29.3 million barrels, or 45% of operational capacity, as of May 29, data provider Genscape said. Oil production in Canada’s Saskatchewan province rebounded to 470,000 … Read more
By Ann Koh and Alex Longley Jun 16, 2020 (Bloomberg) Brent crude rose above $40 a barrel as broader markets rallied on stimulus from the Federal Reserve and physical supplies continued to look tight.Futures in London rose for a second session. India’s oil minister said consumption in the first half of June had recovered to levels … Read more
June 14, 2020 Reuters Canadian oil sands companies have shelved nearly C$2 billion in green initiatives in a cost-cutting drive to weather the coronavirus pandemic, a reversal in some of their commitments to reduce emissions and clean up their dirty-oil image.International oil firms left Canada in droves in recent years due to the high costs to … Read more
June 15, 2020 Newsfile Calgary, Alberta – Bonavista Energy Corporation (TSX: BNP) (“Bonavista” or the “Company“) announces that the period under which the previously announced forbearance agreements (the “Forbearance Agreements“) among Bonavista and the lenders (the “Lenders“) under the Company’s amended and restated credit agreement dated as of September 8, 2017 (the “Credit Agreement“) and the … Read more
June 15, 2020 CNW CALGARY, AB – Whitecap Resources Inc. (TSX: WCP) released its 2020 Environmental, Social and Governance (ESG) Report on our website today, demonstrating our commitment to sustainable growth and industry leadership. We are the proud operator and majority owner of the Weyburn unit in southeast Saskatchewan where in 2019 we safely and responsibly injected 2.0 million tonnes of … Read more
Right Honourable Justin Trudeau, Prime Minister of Canada c/o Office of the Prime Minister 80 Wellington St Ottawa, ON K1A 0A2 [email protected] Her Excellency the Right Honourable Julie Payette c/o Office of the Secretary to the Governor General Rideau Hall 1 Sussex Drive Ottawa ON K1A 0A1 [email protected] Dear Prime Minister Trudeau and Governor General Payette, I’m writing in … Read more
VICTORIA — Fuel prices will be tracked in four additional communities in B.C. under legislation aimed at providing the public with more information on the price at the pumps.
The provincial government says prices in Powell River, Revelstoke, Port Albe…
By Anthony Di Paola and Mahmoud Habboush Jun 15, 2020 (Bloomberg) Oil-production limits adopted by a group of major crude suppliers will soon bring prices back to “normal,” according to the oil minister from the United Arab Emirates.When energy markets were in freefall as the coronavirus pandemic crushed demand, crude rising to $40 a barrel was … Read more
LONDON — Energy company BP is writing down its oil and gas assets by as much as $17.5 billion and will review its plans to develop oil wells as the shock to the industry and world demand from the COVID-19 pandemic pushes major producers to consider a …
Young people, ages 18 to 34, are least likely to be continuing to follow advice from health officials June 15, 2020 – With the advent of summer mere days away, public health officials expressing concern that Canadians are flagging in their vigilance towards social distancing and other public health measures may have good reason to worry. The … Read more
By Ann Koh and Grant Smith Jun 15, 2020 (Bloomberg) Oil fell again as a fresh coronavirus outbreak in China, and increases in cases elsewhere, spurred concerns that a second wave of the virus will derail a nascent economic recovery.Futures traded near $35 a barrel in New York, sinking in tandem with equity markets, after losing … Read more
June 12, 2020 | Source: Arrow Exploration Corp. CALGARY, Alberta, June 12, 2020 (GLOBE NEWSWIRE) — ARROW Exploration Corp. (“Arrow” or the “Company”) (TSXV: AXL) announces an update to its proposed non-brokered private placement (the “Private Placement”) of 13,000,000 common shares of the Company at a price of CAD$0.025 per share for gross proceeds of CAD$325,000, … Read more
June 12, 2020 | Source: Petrus Resources Ltd. CALGARY, Alberta, June 12, 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 June 15, 2020 to June 22, 2020. The Company continues to be … Read more
The conversion of electric power from renewable sources to Hydrogen is another key technology to decarbonization and seasonal energy storage. Reliable moisture measurement to comply contracted limits and ensure safety Polymer Electrolyte Water Electrolysis (PEM) or Alkaline Water Electrolysis are enhanced principles for decomposing Water to Hydrogen and Oxygen by use of electric current. Electric … Read more
Security plans for critical infrastructure facilities differ from site to site depending on the complexity of the location. At a time where resources are limited, when it comes to personnel, what are some solutions you can implement to ensure you know what’s happening in and around your perimeters? Let’s take for example a safety … Read more
ABBOTSFORD, B.C. — Trans Mountain estimates as much as 1,195 barrels, or 190,000 litres, of light crude spilled from its pipeline pumping station in Abbotsford, B.C.
While an investigation is ongoing, the Crown-owned company said in a statement the ca…
The review of piping layouts and module designs, once held in the office boardroom, have now been forced to take place from each of the participant’s homes. These important meetings are easily impeded by cumbersome review platforms or laggy internet, creating an urgent need for a model review format that actually increases engagement while working … Read more
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PetroChem Canada brings leaders from the downstream sector together with government, academia and the supply chain to discuss the opportunities & challenges of developing Canada’s downstream sector and competing in world markets. Developing Canada’s downstream sector is key to maximizing the value of Canada’s natural resources. Let’s work together to become more globally competitive by … Read more
EDMONTON — It was supposed to be a triumph.
South African anti-apartheid hero Archbishop Desmond Tutu was joining the chief of the Athabasca Chipewyan First Nation in his struggle against environmental degradation from the northern Alberta oilsands.
B…
There are in excess of 422,000 kms of pipelines throughout Alberta with a total of 840,000 kms throughout Canada. By their very nature, pipelines are not straight and must traverse a cross several obstacles including other pipelines, rivers, slopes and road/rail crossings. Aside from these relatively stable features, there are identifiable geohazards that include … Read more
Becht will be hosting the next webinar in our Knowledge-on-Demand Webinar Series titled “Plant Equipment Damage Assessment and Restoration Approach” on Tuesday, June 16th at 11:30 AM CDT. The intention of this webinar is to provide an understanding of the issues facing a site with the recovery from a significant asset damage such as a … Read more
Rick Bell More from Rick Bell She is furious. She gets off the computer and she is so angry. “What the hell is any of this for? What is the point of all this?” she says. “The Liberals keep saying the same thing over and over again but … Read more
Scott DiSavino June 12 (Reuters) – U.S. energy firms cut the number of oil and natural gas rigs operating to a record low for a sixth week in a row even as oil prices rebound from historic lows and some producers return to the wellhead. The U.S. oil and gas rig count, an early indicator … Read more
Canada’s drilling rig count stays at 21 actively drilling rigs according to data collected by Baker Hughes for the week ending June 12, 2020. Oil drilling stayed at 7 and gas stayed at 14. Weekly Drilling Rig Oil & Gas Split (Baker Hughes) June 12, 2020 Percentage of Total Rigs Oil Gas Total Oil … Read more
Updated by Gregory John Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Phil Tait Jr. works as a heavy equipment operator on the Coastal GasLink pipeline. Photograph supplied for Canadian Energy Centre Every day Phil Tait Jr. gets into his truck to go to work on B.C.’s Coastal GasLink pipeline … Read more
By Julian Lee Jun 13, 2020 (Bloomberg Opinion) It was too good to be true. Last weekend’s OPEC+ meeting took a decision in record time to extend deep output cuts that had halted a dramatic slide in prices — and members even agreed to abide by them. The timing was perfect. The deal would keep oil from … Read more
By Grant Smith Jun 13, 2020 Once the global oil market emerges from the coronavirus crisis, it may be greeted by a surprising change: greater dependence on crude from OPEC.For the time being, the Organization of Petroleum Exporting Countries and its allies are relinquishing their share of the market in a bid to prop up … Read more
ABBOTSFORD, B.C. — A crude oil spill from the Trans Mountain pipeline in Abbotsford, B.C., has been contained and crews are working to clean up the site.
The company says in a news release that an alarm was received early Saturday and the pipeline was…
By Hailey Waller Jun 12, 2020 (Bloomberg) Oil’s weekly winning streak has stopped in its tracks.After six straight periods of gains, U.S. benchmark crude futures dropped 8.3% this week. Market sentiment soured after the Federal Reserve warned of the coronavirus pandemic’s prolonged damage to the economy. Plus, fears over a second wave of virus infections threaten … Read more
By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Aerial view of the first phase of the Surmont in situ oil sands project in northeast Alberta. Photograph courtesy ConocoPhillips Canada’s oil sands are leading the way in producing some of the planet’s most responsible barrels of … Read more
A Guide to Employee Hiring and Lay-offs Under the Canada Emergency Wage Subsidy The Canada Emergency Wage Subsidy (CEWS) program is a 75 percent wage subsidy provided by the Government of Canada for qualifying businesses, retroactive to March 15, 2020. The Canada Emergency Response Benefit (CERB) is a program that provides temporary income support to … Read more
By Saket Sundria and Alex Longley Jun 12, 2020 (Bloomberg) Oil is heading for the first weekly loss since late April on fears a second wave of U.S. infections could derail a fragile recovery.Crude has largely shrugged off a pledge by OPEC+ to extend output cuts, with broader market sentiment souring this week after the Federal Reserve warned … Read more
By Aoyon Ashraf, Michael Bellusci and Divya Balji Jun 11, 2020 (Bloomberg) Canadian stocks tumbled the most since March 27, slumping with global markets on concerns a second-wave of the coronavirus will stir up new economic challenges. The S&P/TSX Composite index fell 4.1% in the third day of losses, its longest losing streak since March 9. … Read more
Half feel the worst of COVID-19’s economic impacts are over, while half feel the worst is yet to come June 11, 2020 – The COVID-19 outbreak has changed a lot of things about life in Canada. One of the more enduring legacies of the crisis may be how it changes the way we work. Across the … Read more
June 12, 2020 | Source: Pipestone Energy Corp. CALGARY, Alberta, June 12, 2020 (GLOBE NEWSWIRE) — (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) is pleased to announce that it has successfully redetermined its Reserve Based Loan (“RBL” or “Credit Facility”) with its syndicate of banks, maintaining its credit capacity of $225 million. RBL and Financial Liquidity … Read more
By Guy DeSantis You’ve looked through it, you’ve touched it, and you’ve likely purchased it, but you’ve probably never thought much about it until recently. With plexiglass becoming more and more prevalent in stores and worksites as a way to protect against the spread of COVID-19, this is a good time to highlight this versatile … Read more
June 11, 2020 Reuters Canadian heavy crude’s discount narrowed versus West Texas Intermediate (WTI) on Thursday, as the U.S. benchmark plunged on virus-related demand concerns. Deep oil curtailments in Western Canada, ahead of a gradual increase in refinery demand, has kept differentials narrower than usual, according to traders. Scotiabank said it expects three-quarters of Western … Read more
EDMONTON — Alberta is closing the door on an agency that championed eco-initiatives but was ridiculed by Premier Jason Kenney as a costly conduit for “shower heads and light bulbs.”
Grant Hunter, associate minister in charge of red tape reduction, say…
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 28 energy and energy service companies with regular updates. He holds quarterly subscriber webinars and provides Action BUY and SELL … Read more
The primary purpose of a safety valve is the protection of life, property and environment. A safety valve is designed to open and relieve excess pressure from vessels or equipment and to reclose and prevent the further release of fluid after normal conditions have been restored. A safety valve is a safety device and in … Read more
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 second episode highlights the benefits that Early Contractor Involvement (ECI) programs can have … Read more
Learn the basics & what drives the Natural Gas Market. Visit the online event page for more information & register for the course. Natural gas prices have been on a downward trajectory for over a decade, but who would have thought even a couple of months ago that they could head below zero? Yet the … Read more
June 11, 2020 Reuters Oil prices fell on Thursday, hit by another record build-up in U.S. crude inventories and the U.S. Federal Reserve’s projections that the world’s biggest economy would shrink 6.5% this year.U.S. West Texas Intermediate (WTI) crude dropped 6.64%, or $2.59, to $36.43 a barrel. Brent crude futures erased Wednesday’s gains, falling 6.04%, or … Read more
June 11, 2020 CNW CALGARY, AB – Osum Oil Sands Corp. (“Osum” or “the Company“) announced today results from an updated assessment as of April 30, 2020 by GLJ Petroleum Consultants (“GLJ“). GLJ was engaged as an independent qualified reserve evaluator to evaluate the reserves and resources of Osum’s two thermal oil projects in the Cold Lake area: Orion and Taiga. The evaluation … Read more
June 10, 2020 Reuters Canadian heavy crude’s discount narrowed versus the U.S. benchmark West Texas Intermediate (WTI) on Wednesday, as recent curtailments kept supplies tight and producers were slow to restore production.“It appears we’re in a bit of a cautious restart mode at present,” said Tudor Pickering Holt & Co analyst Matt Murphy, noting that … Read more
IDENT has been successful in securing Health Canada approval on our face shields. We developed 2 styles, both with branding options. One of the masks provides you with the ability to easily replace just the shield portion, while keeping the branded headpiece. According to the recent editorial in the Journal of the American Medical Association, … Read more
Updated by Lennie Kaplan and Mark Milke Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Indigenous employees of Duz Cho work on tree clearing in the Peace River district. l-r James Isadore, Nicholas Jackson and Shawn Prince. Canadian Gas Link (CGL) pipeline project, featuring Duz Cho Construction, a … Read more
EDMONTON — A dozen conservation and Indigenous groups have written federal Environment Minister Jonathan Wilkinson asking him to force the Alberta government to reinstate environmental monitoring in the province’s oilpatch.
“We feel the federal govern…
By Saket Sundria and Alex Longley Jun 10, 2020 (Bloomberg) Oil retreated to near $38 a barrel after a U.S. industry report signaled a surprise jump in crude inventories, underscoring the market’s patchy road to rebalancing.Futures dropped 1.6% in New York. The American Petroleum Institute reported that stockpiles expanded by 8.42 million barrels last week, according … Read more
By Akshat Rathi, Laura Hurst and Anna Shiryaevskaya Jun 10, 2020 (Bloomberg) Royal Dutch Shell Plc, the world’s largest liquefied natural gas trader, expects buying and selling of the fastest-growing fuel to recover to levels seen before the pandemic.Global LNG demand took a severe hit when nations imposed lockdowns to combat the spread of the coronavirus, … Read more
By Bloomberg News Jun 10, 2020 (Bloomberg) A wave of new coal power plants are under construction or in development after the country lifted curbs on new builds, according to a study published Tuesday by Greenpeace.About 46 gigawatts worth of new plants were under construction as of May, the study said. Another 48 gigawatts were under various stages … Read more
June 9, 2020 In response to public health orders issued by the Government of Alberta, members of Alberta’s energy industry have submitted information to the Alberta Energy Regulator (AER) about conflicts between these orders and AER requirements. These conflicts mean that following one set of requirements puts them in noncompliance with the other set. The AER developed … Read more
June 10, 2020 Revenue of $40.7 million and Adjusted EBITDA of $4.5 million for the fourth quarter of 2019. Revenue of $168.1 million and Adjusted EBITDA of $22.3 million for the year ending December 31, 2019. Sherwood Park, Alberta, June 9, 2020 (TSXV:VTX) – Vertex Resource Group Ltd. (“Vertex” or the “Company”) reports its financial and … Read more
Nerijus Adomaitis, Terje Solsvik OSLO (Reuters) – Norway’s parliament has agreed additional tax breaks for the oil industry on top of those proposed by the minority government to spur investment and protect jobs, the ruling Conservative Party said on Monday. Equinor and other companies hit by low crude prices as the COVID-19 pandemic has destroyed demand, … Read more
by Sherri Hilton – MAL, CEC, PCC As we transition into summer, we find ourselves still immersed in a pandemic and an economic crisis. There is a growing collective acknowledgment that our world has shifted and changed forever and that we will continue to see more unprecedented changes in the coming months. This crisis has … Read more
By David Yager Fake news has played a major role in the continuing economic challenges facing Alberta. As more people comprehend the degree to which intentional disinformation is shaping the future, Alberta should offer itself as a case study of how much damage decades of fake news can create. After branding it as the dirtiest … Read more
CALGARY — New forecasts show dramatically lower expectations for 2020 capital spending in the oil and gas sector both nationally and in Alberta, the province that produces 65 per cent of the country’s natural gas and 82 per cent of its oil.
The Canadi…
Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Wednesday Word to the Wise in your inbox, subscribe here. As the world begins to carefully re-open in response to improving COVID-19 numbers … Read more
CALGARY — Calfrac Well Services Ltd. says it is seeking advice on changes to its capital structure but doesn’t know of any “material change” that would account for a 75.6 per cent increase in its share price on Tuesday.
In a news release after markets…
Alternative Cartage Inc (ACI) has been a loyal customer to Falcon for many years. When we told them we were making the change to Palfinger, they were excited to make the switch with us. This month ACI traded in two of their Hiab units for a brand-new Palfinger 40002 EH and a Palfinger 17.001 SLD3. … Read more
OTTAWA — Teenage climate activist Greta Thunberg is urging developing island nations to use the upcoming United Nations Security Council election as leverage to push Canada and Norway to step up their games on climate change.
The 17-year-old from Swed…
June 09, 2020 | Source: Parkland Fuel Corporation CALGARY, Alberta, June 09, 2020 (GLOBE NEWSWIRE) — Parkland Corporation (“Parkland”, “we”, the “Company”, or “our”) (TSX:PKI) is pleased to announce a proactive update to its syndicated credit agreement terms. Highlights of the amended credit agreement include: An additional C$300 million of commitments under our syndicated credit facilities, … Read more
June 08, 2020 | Source: Cequence Energy Ltd CALGARY, Alberta, June 08, 2020 (GLOBE NEWSWIRE) — Cequence Energy Ltd. (“Cequence” or the “Company”) (TSX: CQE) announces that it has obtained an order form the Court of Queen’s Bench of Alberta (the “Court”) extending the stay of proceedings previously granted by the Court on May 29, 2020 … Read more
By Akshat Rathi and Laura Hurst Jun 9, 2020 (Bloomberg) Royal Dutch Shell Plc had been turning out about 2.7 million barrels of oil each day until the novel coronavirus took hold of the world. Demand for oil, the company’s core product, dropped almost a third in April, and the price of West Texas Intermediate … Read more
By Saket Sundria and Alex Longley Jun 9, 2020 (Bloomberg) Oil dropped below $38 a barrel in New York as risky assets declined and Saudi Arabia said it would cease extra voluntary production cuts by the end of this month. Futures reversed an earlier gain to trade as much as 2.3% lower. The slide mirrored a … Read more
By Geoffrey Cann The collapse of oil prices and the ravages and the possibilities of the pandemic are becoming clear. Management in oil and gas should be going after those cute but problematic hedgehogs guarding the status quo. Oil Price Collapse The collapse of oil prices itself is not a remarkable event. The industry goes … Read more
EDMONTON — Three northern Alberta First Nations are asking to appeal the province’s suspension of environmental monitoring in the oilpatch because it “fails to come close” to being a reasonable decision.
Alberta’s Opposition leader called on Monday fo…
June 8, 2020 Reuters Canadian heavy crude’s discount widened slightly versus the U.S. benchmark West Texas Intermediate (WTI) on Monday. Western Canada Select (WCS) heavy blend crude for July delivery in Hardisty, Alberta, traded at $9.05 per barrel below WTI, according to NE2 Canada Inc, wider than Friday’s settle of $9 under. Light synthetic crude from … Read more
By Leslie Kaufman (Bloomberg) On March 18—A week after the World Health Organization declared Covid-19 a pandemic—Tony Radoszewski, head of the plastics industry’s main U.S. lobbying group, sent Alex Azar, secretary of the Department of Health and Human Services, a strongly worded letter. Bans on single-use items had been proliferating across states and cities for … Read more
June 8, 2020 Reuters The OPEC+ deal to cut crude production removed nearly 9 million barrels of oil per day (bpd) from the global market as demand was hit by the coronavirus pandemic, Russian Energy Minister Alexander Novak told a briefing on Monday. OPEC, Russia and allies agreed on Saturday to extend record oil output cuts … Read more
A flow meter with 400 CPM of NORM radiation embedded in the metal was safely decontaminated to background levels of radiation after FQE® NORM-Clear™ was applied Results Achieved Successful removal of radiation embedded in metal and scale Radiation reduced to safe background levels from 215-400 CPM Reduced cleaning time over manual methods Chemicals Utilized FQE … Read more
EXPLOITATION OF WASTE ENERGY TO HELP O&G COMPANIES IN THE PATH OF DECARBONIZATION Technical Stream | Wed. June 10 at 3:00 p.m. MDT Nowadays people consciousness about global warming and climate change issues is increasing day by day. Several solutions are available to shift to a low-carbon economy on a global scale and they could … Read more
From Solar Alberta Recently, one of our subscribers wrote to us because he had concerns about solar power arising from a documentary he had just finished watching. As luck would have it, our most recent newsletter must have hit his inbox just after he finished the film. This fortune gives us the opportunity to help … Read more
June 8, 2020 Calgary, June 5, 2020 – Longshore Resources Ltd. (“Longshore”) is pleased to announce that it has entered into an agreement with Rifle Shot Oil Corp. (“Rifle Shot”), Steelhead Petroleum Ltd. (“Steelhead”), and Primavera Resources Corp. (“Primavera”) (Longshore, Rifle Shot, Steelhead and Primavera collectively referred to as the “Companies”) to acquire all of … Read more
By Laura Hurst Jun 8, 2020 (Bloomberg) BP Plc plans to cut 10,000 jobs as the coronavirus pandemic accelerates the company’s move to slim down for the energy transition.The public health crisis has hit company earnings and forced many to change the way they operate. European competitor Royal Dutch Shell Plc is said to be offering voluntary … Read more
By Bloomberg News Jun 7, 2020 (Bloomberg) China’s crude imports soared to an all-time high last month, capping an astounding rebound in oil demand after the nation’s economy was flattened by lockdowns to contain the coronavirus pandemic.Imports surged to 47.97 million tons in May, or 11.34 million barrels a day, according to customs data on Sunday. That’s … Read more
By Javier Blas Jun 7, 2020 (Bloomberg) A deal to extend record OPEC+ output cuts was going smoothly — until Saudi Arabia and Russia discovered just how much some of their allies had been cheating. In private conversations, Saudi Energy Minister Prince Abdulaziz bin Salman and his Russian counterpart Alexander Novak had agreed with little fanfare on May … Read more
By Saket Sundria and Alex Longley Jun 8, 2020 (Bloomberg) Oil traded near $42 a barrel in London after OPEC and its allies agreed to extend historic output curbs by an extra month, but Saudi Arabia signaled it wouldn’t continue with additional, deeper curbs after June.Brent futures were little changed, after rising as much as 2.6% … Read more
VICTORIA — Criminal and civil contempt of court charges have been dropped against those who were arrested in February for violating an injunction while fighting the construction of a natural gas pipeline in northern B.C.
The arrests of 22 members of t…
June 05, 2020 | Source: Pulse Seismic Inc. CALGARY, Alberta, June 05, 2020 (GLOBE NEWSWIRE) — Pulse Seismic Inc. (TSX:PSD) (OTCQX:PLSDF) (“Pulse” or the “Company”) is pleased to report its financial and operating results for the three months ended March 31, 2020. The audited consolidated financial statements, accompanying notes and MD&A are being filed on SEDAR … 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 Workers inspect gas pipes at a natural gas transfer facility operated by China National Petroleum Corporation (CNPC) on January 19, 2020 in Dingyuan County, Anhui Province of China. Getty Images photo by Song … Read more
Visit SecondStreet.org HERE SecondStreet.org Why does Quebec spend billions of dollars each year importing natural gas when it could develop and use its own local natural gas resources instead? This is a question SecondStreet.org recently investigated and documented in our new video, “Quebec’s Green Opportunity”. This post includes a bit more information on the … Read more
Canada’s drilling rig count is up 1 actively drilling rigs according to data collected by Baker Hughes for the week ending June 5, 2020. From one week ago, Alberta rig counts increased 1 to 11 and the Saskatchewan rig counts stayed at 2. Oil drilling stayed at 7 and gas increased 1 to 14. … Read more
By Bloomberg News Jun 7, 2020 (Bloomberg)China’s crude imports soared to an all-time high last month, capping an astounding rebound in oil demand after the nation’s economy was flattened by lockdowns to contain the coronavirus pandemic. Imports surged to 47.97 million tons in May, or 11.34 million barrels a day, according to customs data on Sunday. … Read more
By Will Mathis The turbine inventor Henrik Stiesdal is small in the shadows of gigantic curves of steel, watching workers weld towers that will be rooted to the seabed. This factory in the Danish countryside has churned out thousands of masts for wind turbines whose blades can stretch more than 500 feet. It’s an important … 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 28 energy and energy service companies with regular updates. He holds quarterly subscriber webinars and provides Action BUY and SELL … Read more
Join us for our weekly Online Series where we engage with global policymakers, industry innovators and energy CEOs hosting discussions on topics which include energy investment in the post pandemic world, long-term sustainable energy solutions and building resilience in the sector through advancement of technology, innovation and partnerships. EXPLOITATION OF WASTE ENERGY TO HELP … Read more
ST. JOHN’S, N.L. — The Canadian government is moving ahead with new rules it says will speed up approvals for exploratory oil and gas drilling off the east coast of Newfoundland, but conservation groups are warning the changes undermine environmental …
June 5, 2020 Canadian heavy crude’s discount narrowed versus the U.S. benchmark West Texas Intermediate (WTI) on Friday, reducing some of the discount that had otherwise expanded this week.Western Canada Select (WCS) heavy blend crude for July delivery in Hardisty, Alberta, traded at $8.70 per barrel below WTI, according to NE2 Canada Inc, narrower than … Read more
Scott DiSavino June 5 (Reuters) – U.S. energy firms cut the number of oil and natural gas rigs operating to a record low for a fifth week in a row even as some producers begin to reverse cuts as prices recover from historic lows caused by a slump in fuel demand amid coronavirus lockdowns. The … Read more
The COVID-19 Pandemic looks like it is here to stay for a little while longer. The longer this pandemic drags on, the more costly these manual social distancing measures will become, and the more compelling it will be to reconfigure work to permanently solve for social distancing. The brave will figure out how to leverage … Read more
By Elizabeth Low and Alex Longley Jun 5, 2020 (Bloomberg) Oil headed for a sixth weekly gain after OPEC+ reached a tentative agreement to prolong its record production cuts. Brent crude was back above $40 a barrel, while futures in New York rose 2% on Friday. After almost a week of wrangling, Saudi Arabia and Russia clinched … Read more
By Javier Blas and Grant Smith Jun 5, 2020 (Bloomberg) OPEC+ is set to extend production cuts to prop up the oil market after a breakthrough in high-stakes negotiations, with the alliance meeting on Saturday to sign off on the deal. After almost a week of wrangling, the group’s leaders Russia and Saudi Arabia clinched a … Read more
By Doug Alexander and Kevin Orland Jun 4, 2020 (Bloomberg) Canadian banks’ exposure to oil-and-gas loans has surged to a record as energy firms tapped credit lines to combat plunging oil prices.Energy loans at the country’s six largest lenders jumped 23% to C$71.6 billion ($52.9 billion) in their fiscal second quarter from the prior period, disclosures … Read more
CALGARY — Former Bank of Canada governor Stephen Poloz has been appointed to the board of directors at pipeline company Enbridge Inc.
Poloz retired as the head of the Canada’s central bank on Tuesday.
Enbridge chair Greg Ebel says Poloz has extensive …
June 4, 2020 Reuters Canadian heavy crude’s discount widened versus the U.S. benchmark West Texas Intermediate (WTI) on Thursday. Western Canada Select (WCS) heavy blend crude for July delivery in Hardisty, Alberta, traded at $9.50 per barrel below WTI, according to NE2 Canada Inc, wider than Wednesday’s settle of $8.60 under. Light synthetic crude from … Read more
June 4, 2020 CNW Industry recommendations to federal government will attract investment, advance environmental leadership and encourage innovation CALGARY, AB – As governments turn their attention to the reopening and rebuilding of Canada’s economy, the Canadian Association of Petroleum Producers (CAPP) has been working closely with the federal government to identify measures to support economic recovery while the country continues … Read more
EDMONTON — Seven environmental and Indigenous groups have asked the Alberta government to restart oilpatch monitoring as soon as possible given that other activities are coming out of the COVID-19 shutdown.
In a letter delivered to the Energy and Envi…
June 4, 2020 Reuters Canadian oil producers sideswiped by economic damage from the coronavirus pandemic have received no federal loans, seven weeks after the first lending program was announced, government and industry officials said on Thursday.Prime Minister Justin Trudeau’s government announced loans and loan guarantees for small and midsize energy companies in April, and credit for … Read more
Today, the Federal Government announced that offshore exploratory drilling in the “Canada-NL” area is excluded from a project-specific federal Impact Assessment due to the presence of existing work done during the previous Regional Assessment of Exploratory Drilling East of Newfoundland and Labrador. As its news release states, “this regulation is informed by scientific data and … Read more
Comparing reliability of Medium Voltage Variable Frequency Drives (VFDs) can be confusing. This article defines the key terms used in reliability comparisons and compares two reliability assessment methods commonly in use by VFD manufacturers. The goal will be to provide a clear way for users to compare VFD products from a reliability standpoint. Product reliability … Read more
June 4, 2020 CNW OTTAWA – Canada’s Minister of Natural Resources, the Honourable Seamus O’Regan, today released the following statement regarding the Impact Assessment Agency of Canada’s announcement of the coming into force of the Ministerial Exemption Regulation pertaining to Offshore Oil and Gas Exploratory Drilling East of Newfoundland and Labrador: “The Newfoundland and Labrador (NL) offshore petroleum sector drives economic prosperity in the province and right across Canada, … Read more
Updated by Shawn Logan Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter SkyX founder and CEO Didi Horn with the companies next generation drone, SkyTwo. Photograph supplied for Canadian Energy Centre It’s fair to say Toronto’s Didi Horn has a sky high view of the future. The former … Read more
Like never before, providers of materials essential to society are under pressure to accept and lead change. Finding inspiration in this dynamic setting means seeking out ideas that can survive in the real world. Stewart Muir looks at some of the ways that people – especially those who work in natural resource fields – are … Read more
By Elizabeth Low and Alex Longley Jun 4, 2020, (Bloomberg) Oil declined as OPEC+ unity was threatened by a long-running feud over compliance with production cutbacks. Futures in New York fell 1.6% with OPEC+ still not confirming a date for its June meeting amid wrangling over Iraq’s commitment to cuts. Saudi Arabia and Russia have reached … Read more
By Shelly Hagan Jun 4, 2020 (Bloomberg) Canadian exports and imports plunged by the most ever in April amid a shutdown of global trade.Exports plunged 30% during the month, more than offsetting a 25% drop in imports. The nation’s trade deficit widened to C$3.3 billion ($2.4 billion), from C$1.5 billion in March. The median estimate of … Read more
June 3, 2020 CALGARY, AB – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company“) is pleased to announce that its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.12 per common share. The dividend will be payable on June 30, 2020 to shareholders of record at the close of business on June 15, 2020. This … Read more
June 03, 2020 | Source: ClearStream Energy Services Inc. CALGARY, Alberta, June 03, 2020 (GLOBE NEWSWIRE) — ClearStream Energy Services Inc. (“ClearStream”) (TSX: CSM) is pleased to announce that it has received support from each of its lenders to assist it with managing through the disruptions to its business caused by the combined effect of the … Read more
June 04, 2020 | Source: Saturn Oil + Gas Inc CALGARY, Alberta, June 04, 2020 (GLOBE NEWSWIRE) — Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX.V: SOIL) (FSE: SMK) today announced its financial and operating results for the three month period ended March 31, 2020. The Company’s unaudited interim financial statements and corresponding Management’s … Read more
June 1, 2020 Reuters The shift to electric vehicles and other low-carbon technologies could disrupt crude oil demand on a similar scale to the coronavirus pandemic, Suncor Energy Inc’s chief executive said on Monday. The comments are a stark prediction in an industry that frequently downplays the impact of electrification and points to forecasts of rising … Read more
By Robert Tuttle Jun 2, 2020 (Bloomberg) A year ago, the economy looked rosy and crude prices were riding high. Enbridge Inc. now will be getting a bit of a boost from that due to a nearly decade-old contract provision that will increase what the company charges to transport oil on Canada’s largest pipeline network.The increase … Read more
June 02, 2020 | Source: Suncor Energy Inc Unless noted otherwise, all funds are in US dollars CHICAGO, June 02, 2020 (GLOBE NEWSWIRE) — LanzaTech, a leading biotech company and carbon recycler, has successfully launched LanzaJet, Inc., a new company that will produce sustainable aviation fuel (SAF) for a sector requiring climate friendly fuel options … Read more
June 3, 2020 Reuters A Minnesota pollution regulator said on Wednesday it will hold a public hearing this summer on Enbridge Inc’s plan to replace its Line 3 oil pipeline, adding a potential three-month delay and pushing the bulk of construction to next year.The Minnesota Pollution Control Agency (MPCA) said the hearing will focus on how … Read more
June 3, 2020 Reuters Russian President Vladimir Putin with Saudi Arabian King Salman bin Abdulaziz al-Saud OPEC leader Saudi Arabia and non-OPEC Russia have agreed a preliminary deal to extend existing record oil production cuts by one month while raising pressure on countries with poor compliance to deepen their output cuts, OPEC+ sources told Reuters.“Any … Read more
By Dina Khrennikova, Evgenia Pismennaya and Javier Blas Jun 2, 2020 (Bloomberg) OPEC and its allies edged closer to a consensus on extending production cuts to prop up the oil market, even as wrangling continued for a third day about whether to bring forward their next meeting. Russia and several other OPEC+ nations favor extending the … Read more
By Alex Longley Jun 3, 2020 (Bloomberg) Oil erased gains as the OPEC+ meeting was put in doubt over cheating by some nations on their output-cuts deal.The producer group won’t hold an early meeting on June 4, and a scheduled gathering next week was also threatened, unless all nations first agree to cut output by as much as … Read more
By Anthony Di Paola, Julian Lee and Brian Wingfield (Bloomberg)China is an ever-more important customer for Middle Eastern oil producers as they scramble to find buyers in the wake of the coronavirus.The region’s petro-states shipped about one in every three of their crude exports last month to the Asian country. That’s the biggest proportion in at least … Read more
June 02, 2020 | Source: Zargon Oil & Gas Ltd. CALGARY, Alberta, June 02, 2020 (GLOBE NEWSWIRE) — Zargon Oil & Gas Ltd. (“Zargon” or the “Company”) (TSX:ZAR) has released its 2020 first quarter financial results. Highlights from the first quarter ended Mar. 31, 2020 are provided below: FINANCIAL AND OPERATING HIGHLIGHTS (THREE MONTHS ENDED MARCH 31, … Read more
June 3, 2020 Reuters Canadian heavy crude’s discount widened versus the U.S. benchmark West Texas Intermediate (WTI) on Wednesday as Alberta oil storage levels eased and Enbridge Inc’s Line 3 pipeline faced added delays.Western Canada Select (WCS) heavy blend crude for July delivery in Hardisty, Alberta, traded at $8.60 per barrel below WTI, according to NE2 … Read more
Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Wednesday Word to the Wise in your inbox, subscribe here. For this month, XI will examine the property sale by TimberRock Energy. On May … Read more
Current market solutions for applying disinfectant are slow and provide inconsistent coverage. Sanispray HP products from Graco deliver required atomization with consistent coverage (without drips and runs) to achieve specified disinfectant surface dwell times required by chemical manufacturers to kill COVID-19. Everyone deserves to work in clean, sanitized environments. Learn more about the fastest disinfectant … Read more
June 2, 2020 Reuters Barnett Shale drilling rig U.S. shale oil producers are reversing production cuts as prices recover from historic lows, underscoring shale’s ability to quickly adjust to pricing and posing a challenge to OPEC as it considers extending production curbs.U.S. producers began cutting output in March as oil prices collapsed due to a supply … Read more
June 01, 2020 | Source: Bellatrix Exploration Ltd. CALGARY, Alberta, June 01, 2020 (GLOBE NEWSWIRE) — Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) announces the closing of its sale transaction (the “Transaction”) previously announced on April 23, 2020 and approved by the Court of Queen’s Bench of Alberta on May 8, 2020 in Bellatrix’s proceedings under the Companies’ Creditors … Read more
June 01, 2020 | Source: Gran Tierra Energy Inc. CALGARY, Alberta, June 01, 2020 (GLOBE NEWSWIRE) — Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today is pleased to announce the completion of the semi-annual redetermination of the Company’s bank-syndicated credit facility. All dollar amounts are in United States (“U.S.”) dollars, unless otherwise indicated. The Company … Read more
June 02, 2020 | Source: Arrow Exploration Corp. CALGARY, Alberta, June 02, 2020 (GLOBE NEWSWIRE) — ARROW Exploration Corp. (“Arrow” or the “Company”) (TSXV: AXL) is pleased to announce the filing of its 2019 year-end audited Financial Statements and MD&A, and the filing of its 2019 year-end reserve report, all of which are available on SEDAR (www.sedar.com). … Read more
June 02, 2020 | Source: Suncor Energy Inc Unless noted otherwise, all funds are in US dollars CHICAGO, June 02, 2020 (GLOBE NEWSWIRE) — LanzaTech, a leading biotech company and carbon recycler, has successfully launched LanzaJet, Inc., a new company that will produce sustainable aviation fuel (SAF) for a sector requiring climate friendly fuel options … Read more
June 2, 2020 Reuters Oil prices crawled higher on Tuesday, with traders waiting to see whether major producers agree to extend their huge output cuts to shore up prices at a meeting expected later this week.West Texas Intermediate (WTI) crude futures traded in a 38-cent range on either side of Monday’s close, and last traded up … Read more
June 1, 2020 CALGARY, Alberta – Spartan Delta Corp. (formerly Return Energy Inc., “Spartan” or the “Company“) (RTN: TSXV) is pleased to announce the closing of its previously announced acquisition of substantially all of the assets (the “Assets“) of Bellatrix Exploration Ltd. (the “Acquisition“). The Acquisition was funded through a combination of cash on hand … Read more
By Julian Lee Jun 1, 2020 (Bloomberg Opinion) With oil prices roaring back, the OPEC+ output cuts are undoubtedly doing their job.But they’re due to be reviewed, perhaps as early as this week, and the unwieldy group of oil producing nations needs to ensure the fault lines between its de facto leaders, Saudi Arabia and Russia, don’t resurface. … Read more
KAMLOOPS, B.C. — Trans Mountain says it has reached another “key milestone” in the project to triple capacity of a pipeline moving oil from the Edmonton area to port in Burnaby, B.C.
A statement says construction on a seven-kilometre section of the li…
By Geoffrey Cann If in these challenging times you’re able to acquire a struggling competitor, digital innovations are a compelling means to capture value. A Refinery Purchase Irving Oil, operator of Canada’s largest oil refinery by volume, has purchased North Atlantic Refining Limited (NARL), a refinery and fuels business in Newfoundland. NARL has the distinction of … Read more
June 1, 2020 Globe Newswire CALGARY, Alberta – Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) announces that it has completed the annual review of its credit facilities. The Company’s banking syndicate has renewed the reserve-based facility until November 30, 2020. The credit facility has been reduced to $42 million which reflects the currently outstanding … Read more
June 1, 2020 Globe Newswire CALGARY, Alberta – Pieridae Energy Limited (Pieridae or the Company) (TSXV: PEA) is pleased to announce that its common shares have been approved for listing on the Toronto Stock Exchange (the “TSX”) and are expected to commence trading on the TSX at the opening of the market on June 3, 2020. Concurrent with … Read more
June 1, 2020 CNW CALGARY – Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) (“Bonterra” or the “Company”) today confirms it has executed an agreement with its syndicate of lenders to extend the annual borrowing base redetermination date on its credit facility from May 29th to June 30th, 2020. This extension affords both the Company and its lending syndicate additional time … Read more
By Elizabeth Low and Alex Longley Jun 1, 2020 (Bloomberg) The oil market took an initially neutral view on OPEC+ deliberations that could result in the producers group announcing a short-extension to unprecedented output curbs.Futures in New York were virtually unchanged near $35 a barrel. The Organization of Petroleum Exporting Countries and its allies is considering … Read more
Reserves reconciliation can be confusing (even for the experts). We’re here to help. Join us on June 4th, 2020 at 1:30 PM MST for the first edition of our new Power Up webinar series: Resolving Reconciliations: How to Keep it Simple. During this live 45-minute session, Jodi Anhorn, President and CEO of GLJ, will … Read more
CDN Controls is a fully-integrated, people-focused, one-stop-shop for Instrumentation & Electrical services in Western Canada. We have helped hundreds of companies, both private and public, across several industries, including oil and gas, energy, and others. Our fully-integrated model means we are capable of tackling any project and ensuring that your systems work together. Leading the industry … Read more
By David Moore Introduction This is an update to our previous blog on cracking of refinery hydroprocessing REACs made of duplex stainless steel: View Original Post 2205 DSS (UNS S31803 or S32205) has been used in refinery hydroprocessing unit reactor effluent air coolers (REACs) since the mid 1980’s (1). 2205 was selected due to its good resistance … Read more
By Grant Smith and Javier Blas May 31, 2020 (Bloomberg) OPEC+ is set to discuss a short extension of its current output cuts, according to a delegate, as the cartel considers bringing forward its next meeting a few days to June 4.The cartel and its allies are considering extending the current cuts for one to three months, the … Read more
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ENERGYNOW FEATURE: Why Energy Policy Is Becoming a Women’s Issue Across Canada