August 31, 2020 Reuters A nearly-complete $2.3 billion pipeline to carry natural gas from West Texas shale fields to the U.S. Gulf Coast can move ahead, a U.S. judge in Austin, Texas, ruled on Friday, rejecting an environmental group’s effort to halt the project. Sierra Club in April challenged federal approval of the 428-mile (689 km) … Read more
August 31, 2020 CALGARY, AB, Aug. 31, 2020 /CNW/ – Whitecap Resources Inc. (“Whitecap” or the “Company”) (TSX: WCP) is pleased to announce that it has entered into an agreement in an all-stock transaction valued at approximately $155 million (the “Transaction”) with NAL Resources Limited (“NAL”) and a privately held wholly owned subsidiary of Manulife Financial Corporation (“Manulife”). NAL has … Read more
Jessica Resnick-Ault, Dmitry Zhdannikov, David Gaffen NEW YORK (Reuters) – Oil and gas companies plunged over $156 billion into corporate takeovers and land deals during the second U.S. shale boom, in a massive bet that good times would continue and crude prices would rise. Many of those deals have become financial albatrosses. The prospect for relief is … Read more
By Saket Sundria, James Thornhill and Verity Ratcliffe Aug 31, 2020 (Bloomberg) Oil rose above $43 a barrel in New York to its highest closing level since early March amid a broader rally in equities and as China’s economic recovery continued.West Texas Intermediate futures snapped a two-day drop, rising 1.4% as of 2:34 p.m. in Dubai, … Read more
CALGARY, AB, Aug. 31, 2020 /CNW/ – OBSIDIAN ENERGY LTD. (TSX: OBE) (OTCQX: OBELF) (“Obsidian Energy”, “we”, or “our”) today announced that it has sent the following letter to Bonterra Energy Corp. (TSX: BNE) (“Bonterra”) proposing a combination transaction that would be expected to result in significant cost synergies and drive substantial accretion across all financial metrics for both Obsidian Energy … Read more
CALGARY — Statistics Canada says capital spending in the country’s oil and gas sector fell by 54 per cent in the quarter ended June 30 as numerous producers chopped budgets amid sliding global oil prices.
The federal agency says the industry spent abo…
Sarah Froese, Nadja Kunz, M. V. Ramana Anew type of theoretical nuclear power plant design called small modular reactors (SMRs) has been in the news of late. Earlier this year, at the 2020 Canadian Nuclear Association conference, Minister of Natural Resources Seamus O’Regan announced that the federal government will release an SMR Action Plan this fall. Ontario, New Brunswick … Read more
August 31, 2020 CNW CALGARY, AB – Gear Energy Ltd. (TSX: GXE) is pleased to announce that the syndicated credit facilities redetermination scheduled for August 31, 2020 has been completed with no changes to the borrowing base. The next regularly scheduled borrowing base redetermination date is November 30, 2020 with the maturity date remaining May 28, 2021.
Intrusion, interruption, injury. These are the three main threats to productivity, profitability, and employee welfare across your site. Smart critical infrastructure solutions can help you to address all three comprehensively and cost-effectively, with a single integrated system. Active deterrence for remote monitoring sites through network audio can be perceived as a costly enterprise for some … Read more
by Ben Eisen, Joel Emes, and Alex Whalen Fraser Institute Over time, critics have identified many problems with Canada’s equalization program. This study will examine and quantify one such problem: the disincentive that the program creates for the development and deployment of natural resources in “have-not” provinces—that is, those that receive equalization payments. This disincentive … Read more
By Julian Lee Aug 29, 2020 (Bloomberg Opinion) From Monday there will be just one oil company in the Dow Jones Industrial Average — Chevron Corp. The removal of Exxon Mobil Corp. from the index after an uninterrupted presence since 1928 shouldn’t come as a surprise. It’s not the end of Big Oil, but it may signal the start of … Read more
We are excited to be exploring opportunities to bring nearly 800 presentations to your computer or mobile device through an interactive platform that will allow for learning, knowledge sharing and even networking! In addition to the platform change, GeoConvention 2020 will be hosted September 21 – September 23. This date change is to avoid the last week … Read more
District of Clearwater looks to continue growth thanks to $3.1-million water and sewer investment for pipeline project By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A dock sits on Dutch Lake in the District of Clearwater, about 125 kilometres north of Kamloops. Photograph supplied for Canadian … Read more
By Shelly Hagan Aug 28, 2020 (Bloomberg) Canada’s households are emerging from an historic downturn flush with cash from government aid, boding well for the nascent recovery. Gross domestic product plunged by an annualized 38.7% in the three months through June, adding to an 8.2% drop in the first quarter, Statistics Canada said Friday in Ottawa. … Read more
Oil sands production is already well into coming back online By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter File photo Global oil demand is rebounding quickly off COVID-19 pandemic lows and Canada is positioned to benefit more quickly than its biggest competitor, according to new analyst … Read more
Overwhelming majority in support of responsible, sustainable development on their lands By Gregory John Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter First Nations dancers dressed in regalia participate in the grand entry on the final day of the 32nd annual Squamish Nation Youth Powwow, in West Vancouver, … Read more
August 28, 2020 Reuters Colorado Drilling Rig U.S. energy firms kept the number of oil and natural gas rigs operating unchanged this week, resulting in the first monthly increase since December as higher crude prices prompt some producers to start drilling again.In August, the oil and gas rig count rose by three to 254, according to … Read more
August 28, 2020 CAODC Canada’s fleet of active drilling rigs continues at 52 this week according to data from the Canadian Association of Oilwell Drilling Contractors. Total drilling count for the week of August 24 is 52, 21 of which are drilling for oil and 30 for natural gas. Drilling activity by province as of August … Read more
A co-op education placement with Enbridge Gas changed her mind on the role energy can play By Gregory John Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Laurentian University engineering grad Kaella-Marie Earle has been named to the Canada Energy Regulator’s inaugural Indigenous Advisory Committee. Photo for Canadian Energy … Read more
August 28, 2020 CNW CALGARY, AB – Clearview Resources Ltd. (“Clearview” or the “Company”) is pleased to announce its financial and operational results for the three and six months ended June 30, 2020. FINANCIAL and OPERATIONAL RESULTS During the second quarter of 2020, Clearview’s realized price per barrel of oil equivalent (“boe”) was lower by 49% than the comparative period … Read more
August 28, 2020 CNW CALGARY, AB – Altura Energy Inc. (“Altura” or the “Corporation”) (TSXV: ATU) announces its financial and operating results for the three and six months ended June 30, 2020 and the renewal of its credit facility. The unaudited interim condensed consolidated financial statements and related management’s discussion and analysis (“MD&A”) are available at www.sedar.com and www.alturaenergy.ca. Selected financial and operating … Read more
August 27, 2020 CNW CALGARY, AB – Highwood Oil Company Ltd., (“Highwood” or the “Company“) (TSXV: HOCL) is pleased to announce financial and operating results for the quarter ended June 30, 2020. The Company also announces that its unaudited financial statements and associated Management’s Discussion and Analysis (“MD&A“) for the quarter ended June 30, 2020, can be found at www.sedar.com and www.highwoodoil.com. … Read more
August 28, 2020 | Source: Razor Energy Corp. CALGARY, Alberta, Aug. 28, 2020 (GLOBE NEWSWIRE) — Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) announces its second quarter 2020 financial and operating results. Selected financial and operational information is outlined below and should be read in conjunction with Razor’s unaudited condensed consolidated interim financial statements … Read more
August 28, 2020 | Source: Pipestone Energy Corp. CALGARY, Alberta, Aug. 28, 2020 (GLOBE NEWSWIRE) — (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) was notified by Keyera Corp. (“Keyera”) on August 27, 2020 that the issue relating to the Waste Heat Recovery System within the Keyera Wapiti Gas Plant (“Keyera Plant”) is more widespread … Read more
By Ann Koh and Alex Longley Aug 28, 2020 (Bloomberg) Oil stayed in its recent tight range after Hurricane Laura swept the U.S. energy heartland without appearing to inflict major damage on key infrastructure. Futures in New York were steady near $43 a barrel on Friday, with average trading volumes in August plunging to multiyear lows. Laura, one … 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 27 energy and energy service companies with regular updates. He holds quarterly subscriber webinars and provides Action BUY and SELL … Read more
By Shelly Hagan Aug 27, 2020 (Bloomberg) Canada’s economy suffered its worst contraction on record in the second quarter, official data is set to show on Friday, but the country appears to have rebounded strongly since the height of the pandemic.Economists anticipate gross domestic product shrank by nearly 40% on an annualized basis as businesses and … Read more
August 27, 2020 – Fraser Institute Summary The federal government has introduced a number of new programs and ad hoc additions to existing programs in response to the COVID recession. Unfortunately, much of this spending appears to have been poorly targeted towards those in genuine need, resulting in the waste of billions of dollars of … Read more
One of your industry peers has just suffered a major incident at one of their sites; should you be worried? Not necessarily, but you should be vigilant. Is the event that happened in their facility something that could happen to you? If you’re in the same business the answer is likely yes, but the crux … Read more
Provided by CAPP And why oil and natural gas are critical to our nation’s economic recovery. The recovery from the COVID-19 pandemic slowdown will require the Canadian economy to be firing on all cylinders, and exports are a big part of what drives our prosperity. Exports bring in revenue and investments that create economic growth … Read more
August 27, 2020 | Source: Arrow Exploration Corp. CALGARY, Alberta, Aug. 27, 2020 (GLOBE NEWSWIRE) — ARROW Exploration Corp. (“Arrow” or the “Company”) (TSXV: AXL) is pleased to announce the filing of its unaudited Financial Statements and MD&A for the quarter-ended June 30th, 2020, which are available on SEDAR (www.sedar.com). FINANCIAL AND OPERATING HIGHLIGHTS (in United … Read more
August 27, 2020 | Source: Cordy Oilfield Services Inc. CALGARY, Alberta, Aug. 27, 2020 (GLOBE NEWSWIRE) — CORDY OILFIELD SERVICES INC. (the “Corporation” or “Cordy”) (CKK: TSX-V) released today its second quarter 2020 results. Three months ended June 30, Six months ended June 30, ($ 000’s) 2020 2019 ($) Change 2020 2019 ($) Change Revenue Environmental … Read more
August 27, 2020 Newsfile Vancouver, British Columbia – Hemisphere Energy Corporation (TSXV: HME) (“Hemisphere” or the “Company”) announces its financial and operating results for the three and six months ended June 30, 2020. Q2 2020 Highlights Achieved revenue of $2.5 million. Realized an operating netback of $2.7 million, including hedging gains of $1.4 million. Attained quarterly … Read more
By Ann Koh and Alex Longley Aug 27, 2020 (Bloomberg) Oil held near a five-month high as Hurricane Laura disrupts production and refining in the U.S. Gulf.Futures in New York were steady near $43 a barrel. Laura made landfall early Thursday at Cameron, Louisiana, near the border with Texas, as a Category 4 storm. While the hurricane’s path … Read more
By Scott Deveau and Jason Kelly Aug 26, 2020 (Bloomberg) The mystery of Mark Carney’s next job is solved.Brookfield Asset Management Inc., the global investment firm with about $550 billion in assets under management, has hired the former Bank of England governor to lead an ambitious expansion into environmental and social investing. The Toronto-based company plans … Read more
August 26, 2020 | Source: Gibson Energy Inc. CALGARY, Alberta, Aug. 26, 2020 (GLOBE NEWSWIRE) — Gibson Energy Inc. (“Gibson” or the “Company”), (TSX: GEI), announced today the submission of its inaugural climate change questionnaire to CDP (formerly Carbon Disclosure Project) and the creation of its Sustainability and ESG Board Committee. Submission to CDP To provide … Read more
August 26, 2020 – Plexus Technology (“Plexus”) is pleased to announce the closing of $5,500,000 CAD in financing, effective July 31st, 2020, for the advancement of their natural gas supplied power generation projects near Langdon, Alberta, Canada. Plexus believes that the combined electricity demand from Big Data, Blockchain, Artificial Intelligence and Edge Computing will grow … Read more
August 26, 2020 Reuters Norwegian oil and gas firm Equinor is set to cut jobs significantly in the United States, Canada and Britain to adjust to a fall in oil prices, a company spokesman said on Wednesday. The group plans to cut employee numbers in those countries by about 20% and contractor numbers by around half … Read more
EDMONTON — Albertans are to get a look at the province’s biggest deficit in history when the government releases its financial update today.
Alberta Premier Jason Kenney has been warning that the deficit in the first quarter of the fiscal year will be…
NEW YORK — The energy industry braced Wednesday for catastrophic storm surges and winds as Hurricane Laura cuts a dangerous path toward the coastlines of Texas and Louisiana.
Oil and gas producers have evacuated platforms and rigs in the Gulf of Mexic…
August 26, 2020 Newsfile Calgary, Alberta – LEUCROTTA EXPLORATION INC. (TSXV: LXE) (“Leucrotta” or the “Company”) is pleased to announce its financial and operating results for the three and six months ended June 30, 2020. All dollar figures are Canadian dollars unless otherwise noted. HIGHLIGHTS Increased production to 3,797 boe/d in Q2 2020 from 3,119 boe/d in Q2 … Read more
By Saket Sundria and Debjit Chakraborty Aug 26, 2020 (Bloomberg) As the age of the hydrocarbon enters its final era, the action increasingly moves to Asia and plastics take center stage.With demand for transport fuels set to tail off in the years ahead, a new breed of processing plants is sprouting up across the region. These … Read more
By Ann Koh and Alex Longley Aug 26, 2020 (Bloomberg) Oil held near a five-month high as Hurricane Laura bore down on key refining facilities on the U.S. Gulf Coast, with forecasts saying it will strengthen rapidly into a “potentially catastrophic” Category 4 storm.Futures in New York were steady after jumping 1.7% on Tuesday. The storm … Read more
By Kait Bolongaro Aug 26, 2020 (Bloomberg) Justin Trudeau’s selection of Chrystia Freeland to be Canada’s new finance minister cements her place as his most trusted lieutenant, hinting the 52-year-old former journalist isn’t done with her political rise. But its real significance is that it signals the most decisive lurch to the left in economic policy … Read more
August 25, 2020 Globe Newswire CALGARY, Alberta – (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) was notified by Keyera Corp. (“Keyera”) on August 17, 2020 of an issue relating to the Waste Heat Recovery System within the Keyera Wapiti Gas Plant (“Keyera Plant”). This failure has resulted in an unplanned outage. After performing an … Read more
August 26, 2020 | Source: Pieridae Energy Limited NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN UNITED STATES CALGARY, Alberta, Aug. 26, 2020 (GLOBE NEWSWIRE) — Pieridae Energy Limited (“Pieridae” or the “Company”) (PEA.TO) is pleased to announce it has engaged veteran LNG industry professional Andy Mukherjee P.Eng. as Senior Vice-President LNG to lead the … Read more
By David Yager August 25, 2020 “We’re on a mission from God.” That famous line by Elwood Blues (played by Dan Aykroyd) from the iconic 1980 movie Blues Brothers summarizes the singularity of purpose of the truly enlightened when they know precisely what civilization must do next. Take climate change and big government. … Read more
By: Mel Larson Equipment health is integral in an operating facility to obtain the highest performance; not just for a unit but across the whole plant. Equipment and system reliability is perhaps the most critical element of profitability. History shows that differences in operating expenses between best-in-class refineries and poor performers can be as much … 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. With the announcement of the new Liability Management Framework, the Government of Alberta … Read more
Special to Financial Post by Ross McKitrick We have enough experience with green technologies to know they don’t run on solar and wind, they run on subsidies. Green technologies that were known money-losers before the pandemic are still money-losers today. There’s a curious idea floating around that the COVID crisis undid the principles … Read more
Wednesday, August 26, 2020 by Aaron Wudrick, Federal Director (This column originally appeared in the Financial Post) As Preston Manning used to say the last time the federal deficit was so big, when you’re in a hole the first thing to do is stop digging. Very soon now, the Trudeau government needs to put … Read more
By William Mathis Aug 25, 2020 (Bloomberg) Hydrogen made from renewable power will be compete on price with producing the gas from fossil fuels within two decades, according to analysis by research firm Wood Mackenzie Ltd. The cost of green hydrogen will drop 64% by 2040, the researchers said. Hydrogen is seen as key to cutting … Read more
By Julian Lee Aug 24, 2020 (Bloomberg Opinion)Saudi Arabia Oil Co.’s senior management reshuffle is more than just a game of high-level musical chairs at any old energy company.The oil giant faces an uphill battle to meet promises made before its record-setting initial public offering last year — and before the coronavirus pandemic hit — to deliver a $75 billion … Read more
By Alex Longley and Ann Koh Aug 25, 2020 (Bloomberg) Oil gained toward $43 a barrel as Laura was predicted to become a major hurricane, menacing crude production and refineries in the U.S. Gulf.Futures in New York edged higher, though gains were outpaced by the global Brent benchmark. Tropical Storm Laura is expected to make landfall … Read more
August 24, 2020 | Source: Arrow Exploration Corp. CALGARY, Alberta, Aug. 24, 2020 (GLOBE NEWSWIRE) — ARROW Exploration Corp. (“Arrow” or the “Company”) (TSXV: AXL) is pleased to announce the sale (the “Transaction”) of its LLA 23 Block (“LLA-23”), located in the Llanos Basin, Colombia, to COG Energy Ltd. (“COG” or the “Purchaser”). Highlights of the … Read more
August 24, 2020 Globe Newswire CALGARY, Alberta – Cequence Energy Ltd. (“Cequence” or “the Company“) announces a recapitalization transaction (the “Restructuring Transaction”), to be implemented as a plan of compromise and arrangement (the “Plan”) under the Companies’ Creditors Arrangement Act (“CCAA”) that will allow Cequence to reduce its debt and interest costs and improve liquidity to fund future … Read more
Dan Eberhart – Contributor Dan Eberhart is CEO of Canary, LLC. From Forbes – See Original Article HERE Rarely have prospects looked so grim for the oilfield services sector. Producers have reduced drilling activity to record low levels in response to persistent weak prices and demand destruction caused by a new wave of coronavirus cases. … Read more
From B.C. to Newfoundland, inter-provincial workers earned $57 billion in Alberta from 2002-2016 By Shawn Logan Sean Prosser, a field manager at Cenovus’ Christina Lake oil sands operation, is one of thousands of interprovincial workers working in Alberta’s oil and gas sector. Photograph supplied for Canadian Energy Centre Sean Prosser flies home every week … Read more
Canadian environmentalists and First Nations have joined a U.S. lawsuit that seeks to overturn a U.S. decision that opens an Alaska wilderness for oil and gas exploration.
The lawsuit, filed Monday in Alaska, alleges the activity will damage the calvi…
August 24, 2020 Newsfile Calgary, Alberta – Briko Energy Corp. (“Briko” or the “Corporation”) is pleased to report its financial and operating results for the three and six months ended June 30, 2020. Financial and operational information is set out below and should be read in conjunction with Briko’s June 30, 2020 condensed unaudited interim financial statements … Read more
Fix Equalization. A province with an economy in recession and a skyrocketing unemployment rate should not be forced to send money to other provinces. Stop the discrimination against Alberta in the Fiscal Stabilization Program Repeal Bill C-69. Canada has some of the toughest environmental protections in the world and it is already next to impossible to … Read more
By Geoffrey Cann There is a difference between buying digital (the default position in oil and gas) and being digital (the default position of young people). Oil and gas must be digital to have any hope of attracting top talent in the future. It Took a Pandemic This story opens in 2012. I am living … Read more
OTTAWA — Conservative members sought stability Monday in choosing Erin O’Toole as leader after a campaign where he focused on keeping the party close to its “true blue” fundamentals. O’Toole secured his victory in the leadership race after three rounds of counting. The results had been expected Sunday night but were delayed into the early … Read more
By Ann Koh and Alex Longley Aug 24, 2020 (Bloomberg) Oil edged higher as production was disrupted by two storms approaching the U.S. Gulf Coast.Futures rose 0.8% in New York. Almost 58% of crude output, or more than 1 million barrels a day, in the Gulf of Mexico was closed as of midday Sunday. The storms Marco and … Read more
August 24, 2020 | Source: Pure Acquisition Corp. FORT WORTH, Texas, Aug. 24, 2020 (GLOBE NEWSWIRE) — Pure Acquisition Corp. (NASDAQ: PACQ, PACQU, PACQW), a publicly traded special purpose acquisition vehicle (“Pure”) and HighPeak Energy, Inc. (NASDAQ: HPK, HPKEW), an oil and gas exploration and production company (“HighPeak Energy” or the “Company”), today announced the closing … Read more
Energy industry paid more than $12 billion to employees from other provinces between 2002 and 2016 By Lennie Kaplan and Mark Milke Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Getty Images photo To sign up to receive the latest Canadian Energy Centre research to your inbox email [email protected] The wealth … Read more
CALGARY — Canadian exports of crude oil by rail fell to an eight-year low in June as North American fuel demand remained low due to measures taken to control the COVID-19 pandemic.
The Canada Energy Regulator says rail shipments of oil in June fell to…
Business owner says energy and resource sectors key to overcoming poverty on First Nations By Gregory John Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Lax Kw’alaams First Nation member Chris Sankey, owner of the Blackfish Group of Companies. Photograph supplied for Canadian Energy Centre When Chris Sankey … Read more
SPECIAL PRESENTATION – How Digital Technology Will Change How We Work in a Post-COVID Future Register today for a live webinar on September 14th with speakers from Rogers, Suncor, Geospatial Consortium and SensorUp. The discussion will focus on how digital technology will change the way we work, live, and play in a post-COVID world. Register: … Read more
Moving forward into the new decade, Howard Marten Fluid Technologies Inc. has changed its corporate name to HMFT Inc. After 70 years in business, we felt it was time for a refresh of our brand identity in conjunction with modernizing the way we operate. We are investing heavily in new technologies and processes to make … Read more
Governmental Agencies and End Users have been continually looking to reduce the emissions of Volatile Organic Compounds (VOC) within the process industry for more than 30 years. Valve stem packing leakage is a significant contributor to leakage of VOCs. While each End User may have their own leakage standards, in North America, the EPA (environmental protection agency) has recently enhanced its Method … Read more
Canada’s drilling rig count is up 2 active drilling rigs according to data collected by Baker Hughes for the week ending August 21, 2020. From one week ago, Alberta rig counts decreased 1 to 32 and the Saskatchewan rig count stayed at 8. Oil drilling increased 1 to 20 and gas increased 1 to 36. … Read more
Steam-foam has been used extensively in field trials to improve steam conformance, both for cyclic steam injection and steam flood. It is a proven process and very useful lessons can be drawn from these field trials to plan new projects. However, foam has not yet been used to improve SAGD (Steam-Assisted Gravity Drainage) performances. … Read more
Compact Compression calls Calgary home and has been providing innovative compression solutions under 100 hp for nearly 20 years. Our compressors are installed in BC, Alberta, Saskatchewan and Manitoba, we have recently expanded into international markets: USA, Europe, Middle East, South America and Australia. Introducing the newest member of our product family – the Multiphase … Read more
Aug 21 (Reuters) – U.S. energy firms added oil and natural gas rigs for the first time since March as some shale producers reverse production cuts with oil prices recovering from historic lows caused by a slump in fuel demand amid coronavirus lockdowns. The oil and gas rig count, an early indicator of future output, … Read more
When Bill Morneau was appointed federal finance minister in 2015, many hoped his time in business, think-tank background and oft-repeated zeal for “evidence-based policy” would help guide policy decisions. He was after all the former president, CEO and executive chair of Morneau Shepell, a human resources services business, and chair of the Toronto-based C.D. Howe … Read more
August 21, 2020 Calgary, Alberta – Kelt Exploration Ltd. (TSX: KEL) (“Kelt” or the “Company”) has completed its previously announced disposition of oil and gas assets in its Inga/Fireweed/Stoddart Division (the “Inga Assets”), located in British Columbia, to ConocoPhillips (the “Purchaser”). The effective date for closing adjustments relating to the disposition was July 1, 2020. Kelt … Read more
by Greg McLean – Member of Parliament Monday saw the resignation of this Liberal Government’s Finance Minister of the past five years – Hon. Bill Morneau. If you heard my comments over the past month on the WE Charity debacle, and Minister Morneau’s shocking revelation of his ethical breaches … Read more
Canada was an early adopter of emissions reducing CCS technology, and reached new major milestones this spring By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A CO2 injection well (left) in an oilfield outside of Weyburn, Sask. The Canadian Press In a quiet corner of southeast … Read more
August 20, 2020 Globe Newswire International Petroleum Corporation (IPC) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that William Lundin has been appointed as Chief Operating Officer of IPC, effective as of December 1, 2020. Mike Nicholson, Chief Executive Officer of IPC comments: “William has worked in the engineering and production operations departments at IPC in … Read more
CALGARY — Calfrac Well Services Ltd. says a U.S. competitor urging shareholders to reject its recapitalization plan is a “wolf in sheep’s clothing” whose real goal is a corporate takeover.
The debt-laden Calgary-based company says Texas-based Wilks Br…
By Sharon Cho and Alex Longley Aug 21, 2020 (Bloomberg) Oil fell as the coronavirus pandemic continues to cloud the demand outlook.Europe’s economy unexpectedly lost momentum this month, causing concerns over energy consumption and showcasing the challenge to growth. The region is battling to control a new spike in virus cases while trying to avoid renewed lockdowns.Since prices touched … Read more
August 21, 2020 | Source: Precision Drilling Corporation CALGARY, Alberta, Aug. 21, 2020 (GLOBE NEWSWIRE) — Precision Drilling Corporation (“Precision” or the “Company”) (TSX:PD; NYSE:PDS) announced today that the Toronto Stock Exchange (the “TSX”) has approved its intention to implement a normal course issuer bid (“NCIB”) through the facilities of the TSX and the New York … Read more
August 20, 2020 Ticktock, ticktock. That is the sound of clocks at oil and gas companies still waiting to hear back on the short-term assistance that was announced by the Federal Government in April. Many now face looming restructurings, sell-offs or insolvency in a distressed market. What went wrong? An industry facing the … Read more
NEWS PROVIDED BY Task Force for Real Jobs, Real Recovery Sector could create 2.6 million new jobs while setting the foundation for a low-emissions future VANCOUVER, BC, Aug. 19, 2020 /CNW/ – Today, the national Task Force for Real Jobs, Real Recovery—which represents over a quarter of a million businesses and over 3 million workers across Canada—released Securing Canada’s Economic Future: Natural resources for real jobs and real recovery, … Read more
Where are the Gaps? Whether you are just looking at acquiring a new asset or you’ve recently brought one into your company it is important to quickly understand the risk that comes with operating the facility. Are all the relevant safety threats being well managed or is it a ticking time bomb ready to put … Read more
ST. JOHN’S, N.L. — Intergovernmental Affairs Minister Dominic LeBlanc hinted Thursday that details about federal support for Newfoundland and Labrador’s troubled oil and gas sector could be weeks away.
After meeting with Liberal Premier Andrew Furey i…
Casco’s FR-1002 is a nano-composited, nonionic, high performance friction reducer that is designed specifically for hydraulic fracturing. In contrast to other friction reducers, FR-1002 has the following characteristics: Unlimited salinity resistance Handles extremely harsh brines containing saturated levels of Ca, Mg and Fe. 100% biodegradable, green friction reducer. Water soluble, does not block the formation … 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
August 20, 2020 CNW CALGARY, AB – Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) (“Bonterra” or the “Company”) is pleased to announce that it has entered into a non-binding term sheet (the “BDC Term Sheet”) with the Business Development Bank of Canada (“BDC”), in partnership with its syndicate of lenders, for a non-revolving four year term facility of potentially up … Read more
August 20, 2020 CNW CALGARY, AB – Spartan Delta Corp. (“Spartan” or the “Company“) (TSXV: SDE) is pleased to announce its financial and operating results for the three and six month periods ended June 30, 2020. Selected financial and operational information is set out below and should be read in conjunction with Spartan’s June 30, 2020 unaudited condensed consolidated interim financial statements … Read more
by Rick Petersen I’ve got some important and exciting news today that I’d like to share with you. Starting September 1st, my good friend Rick Grafton will be officially taking over as Executive Director of Suits and Boots, and will be bringing along a strong communications and fundraising team that I know will … Read more
By Alex Longley and Sharon Cho Aug 20, 2020 (Bloomberg) Oil declined from a five-month high in New York with the U.S. Federal Reserve and OPEC+ sounding caution on the demand recovery as many countries struggle to contain the coronavirus.Futures fell about 1% below $43 a barrel amid a broader slide in equities after minutes from … Read more
August 19, 2020 CNW CALGARY, AB, Aug. 19, 2020 /CNW/ – Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) (“Journey” or the “Company“) announces an extension to the forbearance agreement with its banking syndicate. Journey reports that it has reached an agreement with its syndicate of lenders to extend the current forbearance agreement until September 2, 2020. Journey and its … Read more
by Koleya Karringten Across the world – and especially here in North America – the voices of people who often go unheard are now impossible to ignore. Personal stories that usually go untold are making international headlines, and the concept of systemic unfairness is a starting to gain the attention it deserves. As a woman … Read more
CALGARY — The Canada Energy Regulator says its expects oil production in Canada will average 4.38 million barrels per day this year, down by 6.6 per cent compared with 2019.
The federal regulator says it expects oil production to gradually recover ove…
TOKYO/LONDON (Reuters) – Oil prices eased on Wednesday on concerns U.S. fuel demand will face a slow recovery amid stalled talks on an economic stimulus package and despite support from a bigger-than-expected drawdown in U.S. crude stocks. Brent crude futures LCOc1 were down 44 cents, or 1%, to $45.02 a barrel at 1230 GMT, but … Read more
OTTAWA (Reuters) – Canadian Prime Minister Justin Trudeau is weighing sweeping changes to the country’s social welfare system and a series of economic measures that will align Canada with ambitious climate goals, according to people familiar with the matter. The economic recovery plan to bolster the social safety net will especially help those … Read more
By James Herron and Grant Smith Aug 19, 2020 (Bloomberg) Saudi Arabia kept up the pressure on OPEC+ nations that have been exceeding their oil-output targets, hours before a meeting to discuss their agreement.King Salman bin Abdulaziz called Nigerian President Muhammadu Buhari to emphasize the importance of complying with production quotas and compensating for past shortcomings, … 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. It’s no secret that understanding working interest partnerships is a key part of … Read more
TORONTO — Horizon North Logistics Inc. says that Rod Graham is stepping down as co-chief executive and president of modular solutions.
The company says John MacCuish, Graham’s co-CEO, will become the sole chief executive and continue as president of i…
Take a tour around all 8 of Falcon Equipment’s shops across Western Canada to see our extensive resources. Want to learn more? Please do not hesitate to reach out to a member of the Falcon team! falconequip.com/contact https://www.youtube.com/watch?v=tpSjoXVW2y
As the developed world has created the need for energy, one of the most challenging environmental problems today is hydrocarbon contamination resulting from the activities related to the petrochemical industry. Hydrocarbon based waste streams (created in the exploration and production of petroleum products) are especially problematic given that hydrocarbon components are been known to be … Read more
BY: Darren York “Demand Destruction,” “Oil Processing Won’t Be Back,” “Exports Stagnant,” “Record Quarterly Losses,” “Capital Budgets Slashed” and “Refinery Permanently Closed” are all part of the current torrent of brutal oil and gas headlines. Situations like this are not the first time that the industry has been faced with such a dire reality. Looking … Read more
CALGARY — A Texas suitor for Calgary-based Calfrac Well Services Ltd. is urging shareholders to reject a management recapitalization proposal favoured by its senior debtholders.
Wilks Brothers LLC says Calfrac’s announcement on Monday that it will rec…
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SUNDRE, Alta. — Natallie Gamble had no problem taking on the role of a debt-ridden, single mom working in the oilpatch in the pilot for a planned new TV series called “Pipe Nation.”
“This is me. I am ‘Pipe Nation,'” she said with a laugh Monday during…
August 18, 2020 Accesswire CALGARY, AB – PetroFrontier Corp. (“PetroFrontier” or the “Corporation”) (TSXV:PFC) announces that it intends to complete a private placement, the entering into of an amended debenture extending agreement including the immediate repayment of certain of the amounts outstanding under its secured debenture and the grant of options to key personnel. Amended Debenture Extending Agreement … Read more
August 18, 2020 Accesswire REGINA, SK – ROK Resources Inc. (“ROK” or the “Company“) (TSXV:ROK) is pleased to announce its Glen Ewen operating results and the addition of production in Saskatchewan as well as providing a corporate overview and update. Commenting today, President and CEO Cam Taylor stated: “With the acquisition of the Glen Ewen Property and … Read more
Proroguing will shut down the House of Commons committees investigating the WE charity scandal Ryan Tumilty, The Canadian Press Chrystia Freeland, Canadian deputy prime minister, elbow bumps Canadian Prime Minister Justin Trudeau after she is sworn in as finance minister at Rideau Hall in Ottawa, Ontario, Canada August 18, 2020. REUTERS/PATRICK DOYLE OTTAWA – With Chrystia … Read more
By Andres Guerra Luz (Bloomberg) Oil jumped to a five-month high alongside a surge in U.S. equities as optimism that an economic recovery may be on the horizon lifted hopes for improving fuel demand to follow.Equities in the U.S., Europe and Asia strengthened on Monday, with the S&P 500 Index approaching the highest in months, bolstered … Read more
‘Bill Morneau’s ‘resignation’ is further proof of a government in chaos,’ says Conservative leader Bill Morneau has announced his resignation as finance minister, and will also step down as the MP for Toronto Centre, after meeting with Prime Minister Justin Trudeau earlier Monday. “I met with the prime minister today to inform him that I did not … Read more
Momentum that had been building early in 2020 showing signs of return as COVID-19 restrictions ease By Deborah Jaremko Michels Canada works on a pipeline on the Rocky View section of the Western Alberta System Mainline Loop (WASML). Photograph for Canadian Energy Centre Eric Nuttall believes that Canadian oil and gas companies represent the most compelling … Read more
By Vista Projects Remember the good old days of emerging digital technology? Accessing information through a dial-up internet connection. Saving data to floppy discs or CDs. Sending emails to have them printed for storage. Mobile connectivity was new, exciting, and… slow compared to what we have today. In the energy sector, data access limitations … Read more
CALGARY — Calfrac Well Services Ltd. says a Texas company’s proposed restructuring plan doesn’t have sufficient support from unsecured noteholders and so it will continue with a debt-for-stock swap announced in July.
Under the original plan, Calfrac’s…
As one of the sunniest cities in Canada, it’s no surprise more solar projects will be popping up in Calgary. While solar energy projects are still relatively new in Calgary, eventually, it will be common to see solar energy systems in residential homes, schools, commercial buildings, and community infrastructures. The Calgary Board of Education (CBE) … Read more
August 17, 2020 Reuters Canadian heavy crude’s discount versus West Texas Intermediate (WTI) narrowed on Monday, the final day of the trading cycle.Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, traded at $9.15 per barrel below WTI, according to NE2 Canada Inc. It settled Friday at $9.85 under. Canadian heavy oil … Read more
CALGARY — Oil and gas company Paramount Resources Ltd. is demanding a cash payout for its shares in Strath Resources Ltd. when it is merged with another private firm.
Calgary-based Paramount says neither the amalgamation nor the process followed were …
Thank-you for your participation in EnergyNow’s INNOVATION WEEK. Your submission was an important step towards increased digital marketing to SHOWCASE your products and services to a focused energy industry audience of decision makers and key influencers. With the cancellation of in-person tradeshows, conferences and networking events, a strong digital presence is more important than ever! … Read more
August 17, 2020 CNW CALGARY, AB – Paramount Resources Ltd. (“Paramount” or the “Company”) (TSX: POU) is providing an update concerning its investment in Strath Resources Ltd. As announced by Waterous Energy Fund, Strath amalgamated with Cona Resources Ltd. on August 14, 2020 to form Strathcona Resources Ltd. Prior to the amalgamation, Paramount held common shares of Strath and warrants … Read more
August 17, 2020 Cody Battershill In this strange new pandemic era, our usual routines have been completely disrupted. Among those disrupted routines is our information gathering; with so much news flying at us every minute of every hour, it can be hard to find the time to read beyond the headlines. But it’s … Read more
CALGARY — Suncor Energy Inc. says it will be early September before mined bitumen production resumes at its base plant mining operation in Fort McMurray, Alta.
The Calgary-based company has released an update on operations at the plant in the wake of …
By Grant Smith Aug 16, 2020 (Bloomberg)OPEC and its allies have achieved the oil-market equivalent of a high-wire act: increasing supply even as demand remains depleted, without crashing prices.Whether they can successfully continue the balancing act is unclear. The coalition of producers led by Saudi Arabia and Russia is restoring some of the vast quantities of … Read more
By Alex Longley Aug 17, 2020 (Bloomberg) Oil fell below $42 a barrel in New York at the start of a week that will see OPEC+ gather to assess its supply deal as countries struggle to contain the virus that’s hurt economies and fuel demand globally.The Joint Ministerial Monitoring Committee — the panel which reviews the … Read more
August 14, 2020 | Source: Cequence Energy Ltd CALGARY, Alberta, Aug. 14, 2020 (GLOBE NEWSWIRE) — Cequence is relying on exemptive relief granted by Canadian securities regulatory authorities in light of the COVID-19 pandemic (the “Exemptive Relief”) that allows it to delay the filing of its interim financial report for the interim period ended June 30, 2020 … Read more
August 17, 2020 | Source: Suncor Energy Inc multilang-release CALGARY, Alberta, Aug. 17, 2020 (GLOBE NEWSWIRE) — Suncor today provided an update on the Base Plant mining operations following an incident which occurred on August 14, 2020. At approximately 7 p.m. MT on August 14, a fire occurred in the secondary extraction area of the Base Plant … Read more
Oil sands projects have seen 20 per cent decline in weighted average emissions intensity since 2009: IHS Markit By Deborah Jaremko on August 14, 2020 Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Former Suncor CEO Steve Williams speaks during the Suncor Fort Hills grand opening in Fort McMurray … Read more
CALGARY — Veteran oilman Mike Rose says he doesn’t want to “jinx it,” but he admits it’s not so bad heading the company that last year became the biggest producer of natural gas in Canada.
While many oil companies have curtailed production and chopped…
A refinery located in the Midwestern area of the United States was looking to improve upon the efficiency and safety of their crude unit exchanger cleaning program. The refinery typically ran a Heavy Canadian Crude and saw consistent issues associated with heavy organics and asphaltenes. Prior to the vapor phase application, the refinery had utilized … Read more
Whaler Industrial Contracting, a subsidiary of the Trotter and Morton Group of Companies, operates as a general and prime contractor specializing in mechanical, structural, modular, and electrical construction. Our focus is on small to large-scale capital projects, shutdowns, and turnarounds for clients in the oil and gas, energy, and heavy industrial sectors of Western … Read more
We’re still here and happy to assist you with non-site service products that you can deploy without any help from us. Our pipeline pillows and tank pads are manufactured locally in Alberta and shipped direct to your project. These light weight support products are easily handled with one or two people and quickly deployed to maximize … Read more
Author: Morgan Fraser We know there’s a lot of new protocols to keep track of when preparing for an audit, especially due to additional COVID-19 requirements. See below for a COVID-19 signage checklist to help you prepare for an audit, whether it be internal vs external. WHAT IS AN AUDIT? It’s an official inspection performed … Read more
When September 15, 2020 Where Miskanaw Golf Course Fort McMurray, AB Details Registration begins at 12:30 pm Load your clubs and enjoy a fantastic day out at the Miskanaw Golf Course, all the while supporting an excellent cause, in support of Wood Buffalo Food Bank. Oil Sands Charity Golf Classic is the perfect tournament and hosting day for … Read more
To help our customers during these challenging times and to ensure you get the most out of your process control products and instrumentation Westech Industrial and TMEIC has put together a free webinar to help educate and empower your staff so they can improve process efficiencies and maintain your operations. Webinar Details HERE – The … Read more
Scott DiSavino Aug 14 (Reuters) – U.S. energy firms cut the number of oil and natural gas rigs operating to a record low for a 15th 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 three … Read more
Canada’s drilling rig count is up 7 active drilling rigs according to data collected by Baker Hughes for the week ending August 14, 2020. From one week ago, Alberta rig counts increased 2 to 33 and the Saskatchewan rig counts increased 3 to 8. Oil drilling increased 6 to 19 and gas increased 1 to … Read more
Each week Josef Schachter will give you his insights into global events, price forecasts and the fundamentals of the energy sector. Josef offers a twice monthly Black Gold newsletter covering the general energy market and 28 energy and energy service companies with regular updates. He holds quarterly subscriber webinars and provides Action BUY and SELL … Read more
Stay Visiable & Relevant with a Strong Digital Marketing Presence THE WORLD HAS CHANGED QUICKLY! In just a few months, a strong digital marketing presence just became your company’s most important, safe, reliable and consistent marketing tool. Expenses are being reduced but it is crucial some funds be available for an online presence. With the … Read more
VANCOUVER — Mandatory reporting requirements are being imposed on wholesale gasoline and diesel fuel suppliers in British Columbia to ensure transparency and accountability on pricing.
Bruce Ralston, minister of energy, mines and petroleum resources, …
August 14, 2020 CNW CALGARY, AB – Waterous Energy Fund (“WEF”) today announced the amalgamation of two portfolio companies, Cona Resources Ltd. (“Cona”) and Strath Resources Ltd. (“Strath”), to form Strathcona Resources, Ltd. (“Strathcona”). Strathcona is the largest wholly private equity-owned, oil-weighted producer in North America, with production of ~60,000 Boe / d (67% oil and liquids), a 40-year reserve life … Read more
By Elizabeth Low and Alex Longley Aug 14, 2020 (Bloomberg) Oil held near $42 a barrel in New York as the demand impact of the coronavirus pandemic continues to cap price gains.The growing signs of a resurgence of the disease is highlighting the patchy recovery in oil consumption. The International Energy Agency this week downgraded a majority of … Read more
August 13, 2020 | Source: STEP Energy Services Ltd. CALGARY, Alberta, Aug. 13, 2020 (GLOBE NEWSWIRE) — STEP Energy Services Ltd. (the “Company” or “STEP”) (TSX:STEP) is pleased to announce its financial and operating results for the three and six months ended June 30, 2020. The following press release should be read in conjunction with the unaudited … Read more
August 13, 2020 | Source: NXT Energy Solutions Inc. CALGARY, Alberta, Aug. 13, 2020 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX:SFD; OTC QB:NSFDF) today announced the Company’s financial and operating results for the quarter ended June 30, 2020. All dollar amounts are in Canadian Dollars unless otherwise stated. Q2 Financial and … Read more
August 13, 2020 | Source: High Arctic Energy Services Inc. NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAW CALGARY, Alberta, Aug. 13, 2020 (GLOBE NEWSWIRE) — High Arctic Energy Services Inc. (TSX: HWO) (the “Corporation” … Read more
August 14, 2020 | Source: InPlay Oil Corp. CALGARY, Alberta, Aug. 14, 2020 (GLOBE NEWSWIRE) — InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) is pleased to announce that it has entered into a non-binding term sheet (the “BDC Term Sheet”) with the Business Development Bank of Canada (“BDC”), in partnership with our syndicate … Read more
August 13, 2020 CNW CALGARY, AB – Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation“) (TSX: TWM) is pleased to announce that it has filed its condensed interim consolidated financial statements and Management’s Discussion and Analysis (“MD&A“) for the three and six-month period ended June 30, 2020. SECOND-QUARTER 2020 FINANCIAL PERFORMANCE Highlights Adjusted EBITDA increased by $20.1 million to $41.9 million in the … Read more
August 13, 2020 CNW CALGARY, AB – Pan Orient Energy Corp. (“Pan Orient” or the “Company”) (TSXV: POE) reports 2020 second quarter consolidated financial and operating results. Please note that all amounts are in Canadian dollars unless otherwise stated and BOPD refers to barrels of oil per day. The Company is today filing its unaudited consolidated financial statements … Read more
August 13, 2020 Globe Newswire CALGARY, Alberta – Zargon Oil & Gas Ltd. (“Zargon” or the “Company”) (TSX:ZAR) has released its 2020 second quarter financial results. Highlights from the second quarter ended Jun. 30, 2020 are provided below: FINANCIAL AND OPERATING HIGHLIGHTS (THREE MONTHS ENDED JUNE 30, 2020) The Company may be required to seek formal … Read more
By Kevin Orland (Bloomberg) The idea of producing cleaner-burning hydrogen to rid the world of fossil fuels is gaining traction in the unlikeliest of places: Alberta, home of the infamously dirty oil sands.Better known for energy companies that have been blacklisted by the Church of England for their emissions-intensive crude, the oil-rich Canadian province has attracted a growing … Read more
August 14, 2020 Reuters Canadian heavy crude’s discount versus West Texas Intermediate (WTI) narrowed on Friday, as a slow pace of reversing production cuts supported prices.Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, traded at $9.60 per barrel below WTI, according to NE2 Canada Inc. It settled the previous day … Read more
Published in Resource Works – See Resourse Works for more relevant articles In the COVID-19 recovery phase, natural resources are well-positioned to step in to assume their traditional leadership role in creating wealth and jobs for Canadians, writes economist Philip Cross. Natural resources are the largest industry in Canada outside of government, generating $262 billion or … Read more
CALGARY — The Alberta Energy Regulator says it has laid charges against Land Petroleum International Inc. and president Bill Fung for hindering AER inspections in 2018.
The provincial regulator says eight charges have been jointly laid against the com…
Published in Resource Works – See Resourse Works for more relevant articles In the COVID-19 recovery phase, natural resources are well-positioned to step in to assume their traditional leadership role in creating wealth and jobs for Canadians, writes economist Philip Cross. Natural resources are the largest industry in Canada outside of government, generating $262 billion or … Read more
By William Mathis Aug 13, 2020 (Bloomberg) Wind and solar energy doubled its share of the global power mix over the last five years, moving the world closer to a path that would limit the worst effects of global warming.The sources of renewable energy made up nearly 10% of power in most parts of the world … Read more
August 13, 2020 Aug 12, 2020 (Bloomberg) Less than two hours after Kamala Harris was named Joe Biden’s running mate, President Donald Trump had cast the California Democrat as an oil industry and fracking foe.“She is against fracking. She’s against petroleum products,” Trump said at a White House news conference Tuesday. “I mean, how do … Read more
By Elizabeth Low and Alex Longley Aug 13, 2020 (Bloomberg) Oil was steady near $43 a barrel after the International Energy Agency cut forecasts for global oil demand.Futures in New York edged higher though the agency reduced its estimates for almost every quarter through to the end of next year, citing the muted outlook for air travel. Russia’s … Read more
By Kevin Orland (Bloomberg) The idea of producing cleaner-burning hydrogen to rid the world of fossil fuels is gaining traction in the unlikeliest of places: Alberta, home of the infamously dirty oil sands. Better known for energy companies that have been blacklisted by the Church of England for their emissions-intensive crude, the oil-rich Canadian province has attracted a … Read more
By Grant Smith Aug 13, 2020 (Bloomberg) The International Energy Agency cut forecasts for global oil demand as air travel suffers from the coronavirus crisis even more than previously expected.The IEA reduced estimates for almost every quarter through to the end of 2021, with the second half of this year taking the steepest downgrades. Air travel … Read more
August 12, 2020 Globe Newswire CALGARY, Alberta – Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its financial and operational results for the three and six months ended June 30, 2020. Birchcliff’s unaudited interim condensed financial statements for the three and six months ended June 30, 2020 and related management’s discussion … Read more
August 12, 2020 Globe Newswire CALGARY, Alberta – Freehold Royalties Ltd. (Freehold or the Company) (TSX:FRU) announces second quarter results for the period ended June 30, 2020. Results at a Glance Three Months Ended June 30 Six Months Ended June 30 FINANCIAL ($000s, except as noted) 2020 2019 Change 2020 2019 Change Royalty and other revenue 14,758 … Read more
August 12, 2020 Globe Newswire CALGARY, Alberta – Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) today announces our financial and operating results for the three and six months ended June 30, 2020. PPR’s unaudited condensed interim consolidated financial statements for the three and six months ended June 30, 2020 (“Interim Financial Statements”) and … Read more
August 12, 2020 Globe Newswire CALGARY, Alberta – Peyto Exploration & Development Corp. (“Peyto” or the “Company”) presents its operating and financial results for the second quarter of the 2020 fiscal year. The economic impact of the COVID-19 pandemic on world energy demand and consequently North American commodity prices was considerable in the quarter, and while … Read more
August 12, 2020 CALGARY, AB – Tamarack Valley Energy Ltd. (“Tamarack” or the “Company”) is pleased to announce its financial and operating results for the three and six month periods ended June 30, 2020. Selected financial and operational information is outlined below and should be read in conjunction with Tamarack’s unaudited condensed consolidated interim financial statements for the … Read more
August 12, 2020 CALGARY, Alberta – Painted Pony Energy Ltd. (“Painted Pony” or the “Corporation”) (TSX: PONY) announces second quarter 2020 financial and operating results. HIGHLIGHTS Announced an agreement to be acquired by Canadian Natural Resources Limited for $0.69 per share, representing a 30% premium to the 20-day volume weighted average price of $0.53 per … Read more
August 12, 2020 Canadian heavy crude’s discount narrowed versus West Texas Intermediate (WTI) on Wednesday, as pipelines continued to run below capacity, despite increasing oil production.Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, traded at $10.25 per barrel below WTI, according to NE2 Canada Inc. It settled the previous day … Read more
STEP Engineered Pipeline Services A new Alberta pipeline system under construction relied on STEP Energy Services for technical support in its safe hibernation while waiting for system commissioning. STEP was chosen to support this important hibernation phase because of STEP’s safe work procedures, personnel experience in pipeline hibernation, commissioning and engineering simulation techniques that predict … Read more
Blackstone Industrial Services (Blackstone) has officially acquired the assets of Trican Pipeline & Industrial Services Business (TPIS Business) – an industry-leading, integrated pipeline services and industrial maintenance solutions company owned and operated by Trican Well Service Ltd. The transaction closed June 30 and Blackstone, a leading Canadian critical rotating equipment services company, will now transition … Read more
Streamline Inspection’s suite of products and services includes the FlexoFORM Scanner; providing the tooling and technology to solve the problems that arise when inspecting pipe elbows with ultrasound methods. This innovative scanner makes challenging pipe elbow corrosion inspections easier and, more efficient to complete. PAUT Inspections with the FlexoFORM Scanner can be utilized across a … Read more
Aug. 11, 2020 Environmentalists should support energy companies developing pipelines, which deliver fuel more safely and efficiently than other modes of transport, keep natural gas from flaring into the atmosphere, and help with the transition to clean energy, says Tyler Corder, of the Texas Public Policy Foundation’s Liberty Leadership Council in Houston. The joyful response … Read more
CALGARY — Natural gas producer Birchcliff Energy Ltd. is reporting a $39.5-million second-quarter loss compared with a loss of $9.5 million in the year-earlier period.
The Calgary-based company says its loss in the three months ended June 30 amounts t…
CALGARY — Bonavista Energy Corp. says it has completed a recapitalization plan that will result in a nickel-per-share payout for its shareholders and its delisting from the Toronto Stock Exchange.
CEO Jason Skehar says the transaction removes cripplin…
CALGARY — Shares in Total Energy Services Inc. are up after it reported a 68 per cent decline in revenue in the second quarter due to a near collapse in oilfield activity in North America but beat analyst estimates for adjusted income.
The Calgary-bas…
Calgary, Alberta – Bonavista Energy Corporation (TSX: BNP) (“Bonavista” or the “Company“) today announced the completion of its previously announced recapitalization transaction (the “Recapitalization Transaction“) as further described in the Company’s management information circular dated July 2, 2020 and implemented pursuant to a court-approved plan of arrangement under the Canada Business Corporations Act (the “Plan of Arrangement“). … Read more
David Stanway SHANGHAI (Reuters) – China built more than half of the world’s new coal-fired power plants this year and accounted for 90% of new planned capacity, a study showed on Monday, with Beijing still commissioning new projects even as capacity worldwide declines. Global coal-fired generation capacity saw a net decline of 2.9 gigawatts (GW) … Read more
By Elizabeth Low and Alex Longley Aug 12, 2020 (Bloomberg) Oil climbed to near a five-month high after an industry report pointed to a third straight weekly drop in American crude stockpiles.Futures in New York rose past $42 a barrel after losing 0.8% Tuesday. The American Petroleum Institute reported inventories fell by 4.01 million barrels last … Read more
August 12, 2020 | Source: Pipestone Energy Corp. CALGARY, Alberta, Aug. 12, 2020 (GLOBE NEWSWIRE) — (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) is pleased to report its Q2 2020 financial and operational results. Paul Wanklyn, President and CEO said, “Pipestone Energy nimbly managed its production during the second quarter in response to historic commodity … Read more
August 12, 2020 | Source: Petrus Resources Ltd. CALGARY, Alberta, Aug. 12, 2020 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to report financial and operating results as at and for the three and six months ended June 30, 2020. Petrus is focused on the profitable development of its Ferrier Cardium … Read more
Solid Results During Ongoing Pandemic & Challenging Market Conditions NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN UNITED STATES Highlights: Revenue of $68.6 million in Q2 2020, an increase of $55.2 million or 412% compared to Q2 2019 Net operating income1 (“NOI”) increased by $21.2 million or 1,101% compared to Q2 2019 … Read more
August 11, 2020 Reuters Canada needs to sharply reduce greenhouse gas emissions from oil and gas production if the country expects to attract investment necessary to expand output, Canadian Natural Resources Minister Seamus O’Regan said on Tuesday.The world’s fourth-largest global oil producer has been weakened in recent years by multinational producers scaling back and investors pulling … 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. At the end of July, the Government of Alberta announced a new Liability … Read more
August 11, 2020 | Source: Questerre Energy Corporation THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS CALGARY, Alberta, Aug. 11, 2020 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on its financial and operating results … Read more
August 11, 2020 CNW CALGARY, AB – Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) (“Bonterra” or the “Company”) today announces its operating and financial results for the three and six month periods ended June 30, 2020. The related unaudited condensed financial statements and notes, as well as management’s discussion and analysis (“MD&A”), are available on SEDAR at www.sedar.com and on Bonterra’s … Read more
August 11, 2020Reuters Canadian heavy crude’s discount narrowed slightly versus West Texas Intermediate (WTI) on Tuesday, but remained stuck in a tight trading range. Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, traded at $11.70 per barrel below WTI, according to NE2 Canada Inc. It settled the previous day at … Read more
CALGARY — A Calgary-based company is shutting down its oilfield in Peru after violent protests over the weekend that resulted in three protester deaths and a dozen injuries among police and protesters.
PetroTal Corp., which trades on the TSX Venture E…
By Alex Longley Aug 11, 2020 (Bloomberg) Oil edged higher as markets in Europe and Asia advanced on signs that the surge in coronavirus cases in the southern U.S. is slowing.Futures in London topped $45 a barrel, heading for their strongest close in five months. The number of Americans hospitalized due to Covid-19 fell below 50,000 for the … Read more
Mark Carney, the only person to run two major central banks, is helping Justin Trudeau craft next steps in a plan to pull Canada out of a deep recession sparked by the coronavirus. Five months after stepping down as Bank of England governor, Carney has become an informal adviser on policy matters with the Canadian … Read more
CALGARY — Ensign Energy Services Inc. reported a $17.1-million net loss in its second quarter, as revenue fell by nearly half compared with the same time last year.
The loss amounted to 10 cents per share, an improvement on the year-earlier loss of $3…
August 10, 2020 CNW CALGARY, AB – Perpetual Energy Inc. (“Perpetual” or the “Company”) announced today the extension of the revolving credit period applicable to the Company’s existing $20 million credit facility to October 30, 2020. The credit facility continues to be available on a revolving basis until that date. The date for the redetermination of the borrowing limit has also been … Read more
In an effort to provide the oil and gas industry with easy access to the data it needs to take advantage of phase 3 or 4 of the Site Rehabilitation Program, Calgary-based data and software provider XI Technologies has created a new report purpose-built for service companies. The new area-based report provides service companies with … Read more
By David Yager, August 11, 2020 Revisionist history and political fantasy were on full display August 6 courtesy of a Bloomberg article titled, “A $433 Billion Missed Opportunity Haunts Canada’s Oil Heartland”. As has already been done too many times, the story’s premise was comparing Alberta with Norway. Once again it was ludicrous … Read more
CALGARY — Canadian Natural Resources Ltd. has struck a $461-million deal to buy Painted Pony Energy Ltd. as it looks to grow its position in the liquids-rich Montney natural gas region of northeastern B.C.
“This acquisition further strengthens Canadia…
[email protected] Dear Minister O’Regan, Thank you for publicly supporting Canadian energy, specifically the oil and gas sector, which, as you have said, is the driving engine of the Canadian economy, and a generator of wealth and prosperity for all Canadians. I recently had the pleasure of listening to the AVATAR x YPAC (Young Pipeliners … Read more
August 9, 2020 CALGARY, AB – Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) (“Journey” or the “Company“) announces an extension to the forbearance agreement with its banking syndicate. Journey reports that it has reached an agreement with its syndicate of lenders to extend the current forbearance agreement until August 19, 2020. Journey and its lending syndicate continue … Read more
By Elizabeth Low and Alex Longley Aug 10, 2020 (Bloomberg) Oil snapped a two-day losing streak on growing signs that consumption in key regions is edging higher.Crude demand in Asia is almost back to pre-virus levels, Saudi Aramco Chief Executive Officer Amin Nasser said Sunday. Meanwhile, oil drilling in the U.S. fell to a 15-year low … Read more
By Julian Lee (Bloomberg Opinion) For the second time in three years, Saudi Arabia is slashing the volume of crude it’s sending to America in an attempt to force down stockpiles in the world’s most visible oil market and thereby hasten the rebalancing of supply and demand. Weekly U.S. oil inventory data — usually published on a Wednesday and covering … Read more
August 10, 2020 05:00 ET | Source: Painted Pony Energy Ltd. CALGARY, Alberta, Aug. 10, 2020 (GLOBE NEWSWIRE) — Painted Pony Energy Ltd. (“Painted Pony” or the “Corporation“) (TSX: PONY) announces that it has entered into a definitive arrangement agreement (the “Arrangement Agreement”) with Canadian Natural Resources Limited (the “Purchaser”) (TSX, NYSE: CNQ) pursuant to which the … Read more
August 10, 2020 | Source: Canadian Natural Resources Limited CALGARY, Alberta, Aug. 10, 2020 (GLOBE NEWSWIRE) — Canadian Natural Resources Limited (“Canadian Natural” or the “Company”) announces it has entered into a definitive arrangement agreement with Painted Pony Energy Ltd. (“Painted Pony”) relating to the acquisition of all the issued and outstanding common shares of … Read more
August 10, 2020| Source: NXT Energy Solutions Inc. CALGARY, Alberta, Aug. 10, 2020 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX:SFD; OTC QB:NSFDF) announces it will release its second quarter 2020 financial and operating results for the quarter ended June 30, 2020, on Thursday, August 13, 2020 after market close. A conference … Read more
Newfoundland and Labrador seeking support for pillar of province’s economy By Grady Semmens Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Sacha Gale (right) is avionics supervisor and her fiancé Zachary Rolls is a mechanic at Cougar Helicopters in St. John’s, Newfoundland. They are two of the thousands … Read more
COVID-19 has caused significant disruption to many industries across Canada, but for the O&G industry, layering the pandemic on top of historic market volatility has created some unique challenges for business owners. In this second installment of BDO’s Business Rebound Webinar Series, our expert panel will focus on business resiliency in the O&G sector to … Read more
Qnergy outperforms conventional gas generators on reliability, cost of ownership and ESG metrics. The extended warranty is an additional step in streamlining the deployment of the world’s most reliable generator. Ogden, Utah, July 20th 2020 Qnergy Inc. (www.qnergy.com), the leading manufacturer of clean and reliable remote power in the 500 Watt to 10,000 Watt range, … Read more
Check out our product lines we’ve introduced to Canada – www.CEIsales.ca We connect end users and distributors with the latest innovations for industrial construction. Our specialty is the technical sales and support of the most user friendly and dependable tools and equipment. We know what fab shops require, the most cutting edge, time-saving tools and equipment available. … Read more
An Australian bitumen plant’s internal stainless-steel strainers quickly clog and were being discarded, costing the Company $1,200 per strainer. Utilizing a 50% solution of FQE® Solvent-ME at 90°C (194°F), they’re back to new condition. Because of this success, the client is now decontaminating all their strainers with FQE Solvent-ME. Strainer after being cleaned: View All Technical Bulletins … Read more
A strong Return to Work program goes beyond providing personal protective equipment and hand sanitizer. The pandemic has created non-traditional risks you must also protect against that could affect your employees, suppliers, insurance, regulatory compliance and data. To protect your people and your company, it is crucial to not only have Return to Work policies … Read more
Author: KPMG Canada How do you feel about your suppliers? Knowledge is your strongest shield against the volatility of hidden risk. With so much potential damage on the line, understanding what to look out for and what practices to avoid is paramount to maintaining good standing with your organization’s stakeholders and protecting your company from … Read more
The Ga2O3 sensor measures not only CO but also all other combustibles. The volume of this combustibles is been indicated in relation to the value of CO. Therefore the sensor measures COequivalent. COMTEC® 6000 is a totally new and unique InSitu Oxygen & COe (Combustibles) flue gas and process gas analyser. The innovative combustibles sensor … Read more
CFR Chemicals Inc. is pleased to announce that it has entered into a partnership agreement with UUJO Developments LP (a Doig River First Nation Company). In order to increase our service to customers in Northeastern British Columbia, our partnership will begin working on opportunities immediately. CFR Chemicals Inc.’s reputation for exceptional service, responsiveness and chemical … Read more
Scott DiSavin Aug 7 (Reuters) – U.S. energy firms cut the number of oil and natural gas rigs this week to a record low for a 14th 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
Canada’s drilling rig count is up 2 active drilling rigs according to data collected by Baker Hughes for the week ending August 7, 2020. From one week ago, Alberta rig counts increased 2 to 31 and the Saskatchewan rig counts stayed at 5. Oil drilling increased 2 to 13 and gas increased 1 … Read more
Given the recent distractions in Ottawa, it’s worth remembering that only a month ago, federal Finance Minister Bill Morneau revealed what many of us expected: COVID-19 has left Canada in a precarious position. As our country begins to open shuttered doors and look toward the outside world again, it has become quickly apparent … Read more
EDMONTON — The Alberta government says it plans to join three other provinces in exploring small-scale nuclear technology.
New Brunswick, Saskatchewan and Ontario signed a memorandum of understanding in December regarding development of small modular …
ALL-WELD one of hundreds of small Canadian companies benefiting from oil and gas development By Deborah Jaremko Robin Davis of ALL-WELD Company Ltd., is photographed in Toronto, Ontario on Friday, July 31, 2020. Photograph for Canadian Energy Centre Robin Davis says it was a “godsend” for Toronto-based metals fabricator ALL-WELD in 2018 when the company got … Read more
Energy oil and gas firm comparisons by size and country 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 Brandon Marshall, a heavy duty mechanic, working for Duz Cho Construction in Chetwynd B.C. Photograph for Canadian Energy Centre A new analysis by the Canadian … Read more
By Kevin Orland and Kait Bolongaro (Bloomberg) —If any place in North America should have been prepared for the crash in oil prices, it’s petroleum-rich Alberta, the Saudi Arabia of Canada.Back in 1976, Alberta’s government established a special fund to save some of its oil and gas revenue for leaner times when prices dropped or … Read more
CALGARY — Enerplus Corp. says it has restored North Dakota crude oil production halted during the pandemic-linked oil price crash in May despite a court ruling last month that the Dakota Access Pipeline must be shut down.
The Calgary-based company say…
CALGARY — Service station operator Parkland Corp. is reporting higher-than-expected second quarter earnings despite pandemic-related hits to its sales volumes.
The Calgary-based company says net income in the three months ended June 30 was $32 million…
Aug 7, 2020 (Bloomberg) Oil in New York fell as U.S. President Donald Trump’s latest attack on Chinese tech companies stoked tensions between the two countries, weighing on risky assets.Futures traded below $42 a barrel as Trump signed executive orders prohibiting U.S. residents from doing business with WeChat, TikTok or the apps’ Chinese owners. The move pushed the … Read more
August 06, 2020| Source: Parkland Corporation CALGARY, Alberta, Aug. 06, 2020 (GLOBE NEWSWIRE) — Parkland Corporation (“Parkland”, “we”, the “Company”, or “our”) (TSX:PKI) announced today its financial and operating results for the three and six months ended June 30, 2020. Highlights from the second quarter (three months) include: Adjusted EBITDA attributable to Parkland (“Adjusted EBITDA”) of … Read more
By Jennifer A. Dlouhy Aug 5, 2020 (Bloomberg) TC Energy Corp. has reached agreements with four labor unions to build the controversial Keystone XL oil pipeline — a move that could amplify political pressure on Joe Biden, who has threatened to rip up permits for the project even as he courts blue-collar workers.The labor agreements being announced Tuesday … 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
Drillform’s innovative and advanced suite of automated drilling equipment integrates into exsisting rig automation systems and works to improve efficiency, reduce downtime and improve safety. For inquiries contact [email protected] or for more information, visit: www.drillform.com
By Rachel Adams-Heard and Kevin Crowley Aug 5, 2020 (Bloomberg) America’s most prolific shale drillers are accepting a fate once anathema to an industry obsessed with growth: Drilling just to ward off production drops.The pandemic and subsequent plunge in crude prices has forced U.S. crude explorers to scrap plans to expand supplies amid investor skepticism toward … Read more
August 6, 2020 Reuters Canadian heavy crude’s discount widened a tad versus West Texas Intermediate (WTI) on Thursday, reflecting rising oil production.Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, traded at $12.05 per barrel below WTI, according to NE2 Canada Inc. It settled the previous day at $11.95 under. The market … Read more
The oil and gas industry is operating in a time of unprecedented uncertainty. As the industry navigates their current challenges, they are looking to discover new ways to reduce drilling and completion costs. In this new economic landscape, saving every penny through the supply chain during a hydraulic fracturing operation is crucial. A necessary piece … Read more
Unplanned methane emissions can occur at any time and between periodic ground and aerial surveys, leading to the event being missed by these methods. And when detected by standard non-visual sensors such as sniffers, lasers and computational pipeline monitoring, verification is only possible by dispatching personnel to the site – not only adding cost … Read more
Background: Crew Energy Inc. (“Crew”) is always looking for ways to reduce their environmental impact, improve safety performance, and increase the efficiency of their BC Montney operations. They have previously implemented water transfer through existing pipelines to frac sites, as well as using natural gas in drilling and frac operations which not only reduces cost, … Read more
OTTAWA — Canada’s energy regulator has named a new advisory committee that aims to change how it interacts with Indigenous Peoples in Canada.
The Indigenous advisory committee, which includes eight First Nations and Metis individuals from across Canad…
August 6, 2020 CALGARY, AB – Advantage Oil & Gas Ltd. (“Advantage” or the “Corporation”) is pleased to announce its second quarter 2020 financial and operating results. The Corporation’s key priorities during the COVID-19 pandemic continue to be the health and safety of all our personnel. We also wish to thank all front-line workers who deliver our … Read more
August 6, 2020 CNW CALGARY, AB – Jupiter Resources Ltd. and its affiliates (collectively, “Jupiter” or the “Company”) today reported financial and operating results for the second quarter of 2020. In addition, the Company has revised 2020 guidance, reducing planned capital expenditures from $110-130 million to $80-90 million. Jupiter’s second quarter financial results have been posted to the investor portal … Read more
August 6, 2020 CALGARY, AB – Crew Energy Inc. (TSX: CR) (“Crew” or the “Company”) today announces our operating and financial results for the three and six month periods ended June 30, 2020. Crew’s Financial Statements and Notes, as well as Management’s Discussion and Analysis (“MD&A”) for the three and six month periods ended June 30, 2020 are available on … Read more
August 6, 2020 CNW CALGARY, AB – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX: IPL) today announced financial and operating results for the three and six month periods ended June 30, 2020. Second Quarter Highlights Funds from operations (FFO) totalled $184 million Oil sands transportation FFO increased slightly quarter over quarter due to higher capital fee revenue Net income for … Read more
August 6, 2020 CNW HIGHLIGHTS Sales volumes averaged 68,839 Boe/d (39 percent liquids) in the second quarter of 2020 compared to 70,022 Boe/d (38 percent liquids) in the first quarter. At Wapiti, second quarter sales volumes increased 107 percent to 14,940 Boe/d (64 percent liquids) compared to the first quarter as run time at the third-party … Read more
Prior to Covid-19 rearing its ugly head, 2020 is the the year the Federal and Provincial Governments across Canada implemented their new guidelines for surveying and reducing fugitive leaking methane. As the largest provider of OGI LDAR in Canada – Target Emission Services (a division of Montrose Environmental Group) we have summarized our 2020 early … Read more
Issue and Opportunity While the economic impacts of the COVID-19 pandemic are immediate and severe, Alberta’s energy sectors are facing an even deeper crisis. Targeting the Alberta and Canadian government’s commitment to combat climate change, Alberta’s Energy Regulator has introduced a full-scale commitment to protect our environment by implementing methane reduction requirements, as outlined by … Read more
By Saket Sundria and Alex Longley Aug 6, 2020 (Bloomberg) Oil held near a five-month high in New York, fluctuating with other risk assets, as Iraq promised extra output cuts this month and investors looked for clear signs about a sustained recovery in demand.Futures closed at the highest level since early March on Wednesday after U.S. … Read more
Calgary, Alberta–(Newsfile Corp. – August 6, 2020) – Kelt Exploration Ltd. (“Kelt” or the “Company”) reports its financial and operating results to shareholders for the three and six months ended June 30, 2020. The Company’s financial results are summarized as follows: FINANCIAL HIGHLIGHTS Three months ended June 30 Six months ended June 30 (CA$ thousands, except as … Read more
August 05, 2020 | Source: Parex Resources Inc. CALGARY, Alberta, Aug. 05, 2020 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX:PXT), a company focused on Colombian oil exploration and production, announces its unaudited financial and operating results for the three months ended June 30, 2020 (“Second Quarter” or “Q2”). All amounts herein are in United States … Read more
August 06, 2020 05:00 ET | Source: Canadian Natural Resources Limited CALGARY, Alberta, Aug. 06, 2020 (GLOBE NEWSWIRE) — Commenting on the Company’s second quarter 2020 results, Tim McKay, President of Canadian Natural, stated “Canadian Natural is in a strong position as a result of our capital flexibility and continued focus on cost control, which maximizes margins … Read more
CALGARY — Canadian Natural Resources Ltd. beat analyst expectations despite swinging to a loss in its latest quarter on a halving of revenues.
The Calgary-based energy producer says it lost $310 million or 26 cents per share in the second quarter, com…
August 5, 2020 Newsfile Calgary, Alberta – Pine Cliff Energy Ltd. (TSX: PNE) (“Pine Cliff” or the “Company“) is pleased to announce the filing of its second quarter financial and operating results. Included in the filings were Pine Cliff’s unaudited interim condensed consolidated financial statements and related management’s discussion and analysis for the three and six … Read more
August 5, 2020 CNW CALGARY, AB – Gear Energy Ltd. (“Gear” or the “Company”) (TSX: GXE) is pleased to provide the following second quarter operating update to shareholders. Gear’s Interim Condensed Consolidated Financial Statements and related Management’s Discussion and Analysis (“MD&A”) for the period ended June 30, 2020 are available for review on Gear’s website at www.gearenergy.com and on www.sedar.com. Financial Summary Three … Read more
At HIVE, we simplify the process from concept to commissioning, by investing in standardized templated and repeatable designs. Our designs, while templated, are configurable by our partners to meet unique project requirements and achieve faster project schedules and more cost-effective capital deployment. Building on a Legacy Through our collective of proven industry experts, HIVE has … Read more
Solids free Brine based drilling fluids have been utilized by operators to optimize and increase drilling rates in the Canadian market for the last five years. Despite the increased drilling rate of such fluid systems, their overall performance is being hampered by their inhibitive property. In order to achieve the inhibitive property required for the … Read more
August 5, 2020 Globe Newswire CALGARY, Alberta – Cardinal Energy Ltd. (“Cardinal“) (TSX: CJ) confirms the Company has completed the redetermination of its credit facility in partnership with its syndicate of lenders. Cardinal’s credit facility has been confirmed at $225 million, comprised of a $205 million revolving facility and a $20 million operating facility with the revolving period extended to August 31, … Read more
August 5, 20203:21 PM CNW CALGARY, AB – Headwater Exploration Inc. (the “Company” or “Headwater“) (TSX: HWX) announces its operating and financial results for the three and six months ended June 30, 2020. Selected financial and operational information is outlined below and should be read in conjunction with the unaudited condensed interim financial statements and the related management’s discussion and … Read more
August 5, 2020 CNW CALGARY, AB – Keyera Corp. (TSX: KEY) (“Keyera”) announced its 2020 second quarter financial results today, the highlights of which are included in this news release. The entire news release can be viewed by visiting Keyera’s website at www.keyera.com, or, to view the MD&A and financial statements, visit either Keyera’s website or Keyera’s filings on … Read more
When University of Calgary (U of C) Prof. Pedro Pereira-Almao was developing his revolutionary in-situ upgrading (ISU) technology, he probably had no idea a version of this technology would one day be used to extract sulphur from pyrolysis oil, generated from used tires. But that is exactly what is happening, as a Calgary-based technology company … Read more
CALGARY — Husky Energy Inc. is joining other major oilsands producers in setting a short-term emissions intensity reduction target as a preliminary step as it works on a way to achieve net zero emissions by 2050.
In its 2020 environmental, social and …
By Alex Longley Aug 5, 2020 (Bloomberg) Oil jumped to a five-month high in London, topping $46 a barrel after U.S. industry data showed a decline in the nation’s stockpiles and the dollar fell.Brent futures gained for a fourth day, rising as much as 4.1% to the highest price since the beginning of March. The American … Read more
August 05, 2020 | Source: Pipestone Energy Corp. photo-release 2020 – 2021 Development Map Refer to map PDF available: http://ml.globenewswire.com/Resource/Download/c4b63d11-a7b8-432b-88f7-be35f5fcf316 CALGARY, Alberta, Aug. 05, 2020 (GLOBE NEWSWIRE) — Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) is pleased to announce that it has entered into subscription agreements with Riverstone V EMEA Holdings Cooperatief U.A. (“Riverstone”), GMT Capital Corp. (“GMT Capital”), … Read more
It is no secret that the oil and gas industry is one of the most demanding work environments. Oil and gas workers face numerous hazards daily, including the risk of fires, explosions, falls, confined spaces, machine malfunctions and much more, which is why employers take every precaution to protect their personnel, assets and the environment. … Read more
Process Hazards Analysis (PHA) studies (including HAZOP, What-if?, HAZID, and more) are easily subjective. This leads to multiple inconsistencies that have major safety and cost implications. We know how important it is to ensure complete risk discovery for safer, smarter operations, but also equally important is having consistency in the analysis of consequence severities and likelihoods. In … Read more
Guidelines for Development of Future Generations of In-Situ Combustion Processes COMPANIES INVOLVED: A T EOR CONSULTING INC. PETRO MANAGEMENT ETENPAX INSTITUTE INC. SUCCINCT DESCRIPTION OF THE TOE-TO-HEEL AIR INJECTION (THAI) PROCESS: THAI is a novel in-situ combustion (ISC) process in which the horizontal section of the horizontal producer is located close to the bottom of … Read more
Leading chemical producer proactively inspects in-plant buried pipelines to ensure safe transport of hazardous products. Project Summary Assessed over 70,000 feet of in-plant buried pipeline Spectrum XLI completed 8 separate above ground surveys in single pass over the pipeline, providing clear correlation of all survey results Effectively prioritized anomalies within the pipeline system to inform … Read more
There has been a significant evolution in power semiconductor devices from small, low power devices to very high capacity devices. As a result, multi-megawatt range adjustable speed drive (ASD) systems are increasingly being used not only in the global cement industry but others such as oil & gas, mining, water/wastewater, and power generation. In a … Read more
How is your company responding to recent changes in the provincial measurement and reporting directives? Maybe you have identified gaps in your reporting? As we all navigate the requirements, we thought it would be useful to share these 4 tips from our experts to achieve accurate emission data and ensure reliable reporting in compliance with the … Read more
The Atlas™ System is a high strength, high stiffness carbon fiber solutions for on-site repair of piping structures. Atlas™ is designed for repairs requiring strain reduction due to dynamic loading conditions. When a dig takes place to verify or to investigate for external corrosion, pitting, dents, gauges, manufacturing flaws, and wrinkle bends the Atlas™ System … Read more
Remote and distributed locations are costly to monitor and time consuming. Osperity removes these challenges by enabling organizations to visually inspect and monitor their remote locations from anywhere with any connected device. Capitalize on improved productivity, lower costs and reduced risk to employees and assets, with instant access to events or activities of interest, for … Read more
While the Internet of Things (IoT) is a relatively recent new term buzzing around organizations across the globe, IoT has actually been with us for well over a decade. The concept of connecting your assets to the network in order to monitor their condition with analytic software applications is not new, but it has been … Read more
ONSITE3D’s workflow and innovative approach to completing brownfield MOC projects has allowed ONSITE3D to effectively and consistently reduce the over all project cost and schedule. Our cradle to grave approach reduces the projects risks between services and allows for effective communication and collaboration between teams. ONSITE3D has been using laser scanning technology over the last … Read more
“A team you can count on. A product you can trust.” “Bringing projects to life and on time.” Gemini’s 56-acre facility specializes in modular assembly we are capable of simultaneously working on 50+ modules at any given time. Our experience, attention to detail and commitment to quality allows us to offer a superior QMS system … Read more
August 5, 2020 Globe Newswire Creates Multi-Million Dollar Training Program for Renewable Energy Sector HOUSTON – Media Advisory – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) announced today that Keystone XL has reached a project labor agreement (PLA) with four leading U.S. labor unions that will inject hundreds of millions of dollars in middle-class wages … Read more
Succeeding in oil and gas M&A comes down to how well and how quickly you can analyze potential opportunities. Once a month, XI Technologies will apply its evaluation tools to a currently available asset to give readers a sense of the opportunities available and how they can be evaluated for A&D purposes. Each week, XI … Read more
EDMONTON — Alberta has signed an agreement with the federal government that makes major cuts to environmental monitoring of the oilsands.
The deal, a copy of which has been obtained by The Canadian Press, lays out research plans for this year’s field …
August 4, 2020 Reuters Canadian heavy crude’s discount widened to more than $10 a barrel versus West Texas Intermediate (WTI) on Tuesday, the first day of the September trading cycle, as production climbs, traders said.Western Canada Select (WCS) heavy blend crude for September delivery in Hardisty, Alberta, traded at $11.15 per barrel below WTI. Prices for … Read more
August 4, 2020 Globe Newswire CALGARY, Alberta – Husky Energy today released its 2020 ESG Report, including a GHG emissions intensity reduction target of 25% by 2025 and a gender diversity target of 25% women in senior leadership roles. The report also addresses Husky’s aspiration to be net zero by 2050. Additional highlights of Husky’s 2019 … Read more
August 4, 2020 Globe Newswire All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta – Gibson Energy Inc. (“Gibson” or the “Company”) (TSX: GEI), announced today its financial and operating results for the three and six months ended June 30, 2020. “In a very challenging quarter for our industry, Gibson delivered strong operational … Read more
CALGARY — A Texas-based competitor that is also an investor and debtholder in struggling Calfrac Well Services Ltd. has put forward a recapitalization plan it says is superior to one the Calgary-based company announced three weeks ago.
Wilks Brothers,…
By Grant Smith and Julian Lee Aug 3, 2020 (Bloomberg)OPEC’s crude production rose last month as Persian Gulf members phased out extra supply cutbacks, but the cartel largely persevered with its strategy to revive the global oil industry.Saudi Arabia, the United Arab Emirates and Kuwait restored the additional output taken offline in June, when they … Read more
By Saket Sundria and Alex Longley Aug 4, 2020 (Bloomberg) Oil dropped toward $40 a barrel in New York after the biggest gain in two weeks as investors weighed additional OPEC+ supply hitting the market against signs of a recovery in major economies.OPEC’s crude output rose last month, led by Saudi Arabia, ahead of the group and its … Read more
How one job in oil and gas spurs employment across multiple sectors By Deborah Jaremko Oil and gas development creates jobs, and not just jobs at oil and gas companies. There is a ripple effect that stretches from the wellhead through office towers and manufacturing shops to the mall and the corner store. With Canada facing … Read more
Operators working with hydrocarbon gas and liquids, refined products, water and process fluids are continuously managing particulate contamination. These fluids and gasses, along with the facilities that process, utilize, transport and store them, are all subject to contamination from solids, liquids, gasses and other molecular compounds. Contamination can be introduced to a system or generated … Read more
The EFMP The old adage that you can’t manage what you don’t measure is true, nor can you measure just once and manage forever. The EFMP (Environmental Footprint Monitoring Platform) measures project’s key environmental indicators for your project over the complete lifecycle of the project. The first step is to measure the environmental indices for … Read more
As the importance of liability management has grown, the need for data on Asset Retirement Obligations (ARO) has spread throughout oil and gas operations. What once was mostly the focus of abandonment and reclamation teams now touches on several parts of an E&P company, with cross-departmental collaboration becoming a necessary workflow for those looking … Read more
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As Canada looks to rebuild economy battered by COVID-19 pandemic, the energy sector can and will lead the way By Tom Olsen Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Pipe for the Trans Mountain pipeline is unloaded in Edson, Alta. on Tuesday June 18, 2019. The Canadian Press … Read more
By Geoffrey Cann The oil and gas industry spends hundreds of billions each year on new capital projects. An effort by a group of international producers should eventually improve the efficiency of that spend. DIGITAL CAPITAL I was contacted recently by a trade association representing about 40% of the global production of oil and gas … Read more
Trading profits saved Europe’s oil majors from the full impact of the pandemic. But they shouldn’t get too comfortable with this safety net. By Julian Lee Julian Lee is an oil strategist for Bloomberg First Word. Previously he worked as a senior analyst at the Centre for Global Energy Studies. Trading profits won’t rescue oil … Read more
By Alex Longley Aug 3, 2020 (Bloomberg) Oil was steady near $40 a barrel as OPEC+ producers started supplying more crude to a global market where many countries are still struggling to contain the coronavirus.The Organization of Petroleum Exporting Countries and its allies will pump about 1.5 million barrels a day more this month than in … Read more
New economic task force crafting recommendations to help shape federal government stimulus programs By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Fort St. John, BC, Mayor Lori Ackerman speaks at the #thenorthmatters LNG forum in Kitimat, BC, May 2, 2018. The Canadian Press Unemployment rates … Read more
Dan Healing, The Canadian Press Total writing off Canadian assets for environmental reasons is hypocritical: CAPP French energy giant Total is virtue signaling with its move to write off billions of dollars-worth of oil sands assets in Alberta, according to the president and CEO of Canadian Association of Petroleum Producers (CAAP). “It’s problematic. I think it’s … Read more
Petronim Projects specializes in developing salt caverns for hydrocarbon storage or disposal. Our experience has allowed us to develop an innovative process to minimize capital expenditure over the full life cycle of the project. At Petronim Projects we understand that no two projects are the same, by our broad background allows us to tailor solutions … Read more
How Oil & Gas companies can build resiliency and lead the path towards a sustainable future Executive Summary This Whitepaper discusses: Future of Oil & Gas; Cost Optimization, Decarbonization Digital Investment pillars Navigating regulatory compliance Upskilling in an inclusive agile culture Digital is the path to Operational Excellence Thynkli’s Digital Centre for Operational Excellence in … Read more
The Project: Over the past five years, proppant intensity in the Montney formation has increased exponentially – especially in the prolific Pipestone Area west of Grande Prairie, AB. To maximize efficiency and reduce Drilling and Completions costs, the trend at recent well sites in the Pipestone Area is to pump up to 6,000 MT of … Read more
Protecting the safety of your teams and worksite is a top priority. That’s why it is essential to use industry-leading connected safety technology to help safeguard your employees and businesses through automated industrial contact tracing. Using a combination of Blackline Safety’s intrinsically safe G7 safety wearables and their Loner Mobile smartphone app, employee location data streams to the Blackline Safety Cloud and powers … Read more
What?! That doesn’t worry you? You already knew that? Of course you did. Safety training in the energy, construction, and maintenance industries is just a necessary evil, right? It’s part of the cost of labour, a regulatory hoop you have to jump through. You hope it makes your workers safer. You want it to. But … Read more
Canada’s drilling rig count is up 3 active drilling rigs according to data collected by Baker Hughes for the week ending July 31, 2020. From one week ago, Alberta rig counts increased 1 to 29 and the Saskatchewan rig counts increased 1 to 5. Oil drilling increased 1 to 11 and gas increased 1 to … Read more
IRONLINE EMISSION SOLUTIONS NOx Reduction Milestones Ironline provides emission solutions for existing compression applications. Ironline Emissions solutions include: Completing engine retrofits that reduce Green House Gas, making end users compliant and generating carbon credits Fuel savings by upgrading natural gas engines into ultra efficient engines As a Platinum packager for Waukesha Engine Ironline offers Waukesha … Read more
Digital technology continues to revolutionize our world, and is making great strides in the energy sector. A fundamental part of the design of any new industrial facilities is the model review. During a model review, participants are able to view digital models to ensure that the resulting facility will fulfill the desired capabilities. Traditionally, classic … Read more
As regulations to reduce methane venting from pneumatics are set to take effect across Alberta and BC, oil and gas producers are facing two challenges: How do we modify our legacy sites to remain in compliance? and How do we design our new well sites going forward? In theory, the easiest solution to both challenges … Read more
Galatea’s waste disposal decision optimization software, Waste Coordinator is a Uber-like SaaS platform designed specifically for the oil & gas industry to help companies automate and improve complex waste disposal and logistics decisions while providing a platform which allows producers to market underutilized disposal capacity adding revenue to the bottom line. Waste disposal decisions involve … Read more
By Mahdi Sharif, SVP Product Eng. Glove Systems Figure 1. (a) Click anywhere on the image (or the caption) to inspect the assembly in the cloud, remotely. (b) Workers working in close proximity to measure a part. It is not feasible to practice social distancing in this case A History Lesson “In the heat … Read more
COVID-19 has had a major impact on all industries including the heavy industrial construction sector. Some suggest the global economy is expected to make a slow comeback in the next 12 months, however; during these times, industrial projects have been delayed or cancelled due to the uncertainty of the virus. Some of the uncertainty owners … Read more
Scott DiSavino (Reuters) – U.S. energy firms kept the number of oil and natural gas rigs unchanged at a record low as the rig count fell for a fifth straight month, although July marked the smallest monthly decline due to a recovery in prices. The rig count, an early indicator of future output, steadied at … Read more
CALGARY, AB – (TSX: PMT) Perpetual Energy Inc. (“Perpetual” or the “Company”) herein releases its second quarter 2020 financial and operating results. A complete copy of Perpetual’s unaudited condensed interim consolidated financial statements and related Management’s Discussion and Analysis (“MD&A”) for the three and six months ended June 30, 2020 can be obtained through the Company’s website … Read more
By Andres Guerra Luz Jul 31, 2020 (Bloomberg) Oil posted a gain in July, boosted by a steadily weakening dollar and OPEC’s restraint on production.Deep crude output curbs by the Organization of Petroleum Exporting Countries and its allies have helped futures rebound from their plunge below zero in April, yet the unprecedented cuts are set to … Read more
NEW YORK — Two American oil giants lost more than $9 billion in the second quarter as the pandemic kept households on lockdown, cutting a gaping hole into a once-thriving business as the need for oil diminished around the world.
Exxon lost $1.1 billio…
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