LONDON (Reuters) -Global crude oil markets have lost about a fifth of their value in 2020 as strict coronavirus lockdowns paralyzed much of the global economy, but prices have rebounded strongly from their lows as governments rolled out stimulus. On Thursday, the last trading day of 2020, Brent was down 55 cents, or 1%, at … Read more
By Nathaniel Bullard Dec 30, 2020 (Bloomberg Opinion) 2020 has given us many things to ponder — perhaps too many. Nevertheless, it is the analyst’s job to distill the trends that define today and tell us something about tomorrow. In that spirit, here are 10 significant charts from my writing on energy and climate this year.Energy became … Read more
By David Wethe Dec 31, 2020 (Bloomberg) The crisis that enveloped the oil industry in 2020 can be measured in various ways, but in the U.S. there may be no better single gauge than the tally of drilling rigs operating across the world’s largest producer. The weekly data shows at a glance the level of confidence … Read more
Dec 31, 2020 Liquefied natural gas traders anticipate a swift demand recovery in 2021 after a year in which the coronavirus pandemic prompted dramatic price swings.Colder weather in key importing nations, outages at major production hubs and congestion along global shipping routes already have combined to push spot prices in Asia to the highest level … Read more
NEW YORK (Reuters) – About half of U.S. energy company executives polled by the Federal Reserve Bank of Dallas expect their firms to increase capital spending in 2021, and another quarter of respondents see those expenditures remaining flat next year, according to a survey released on Wednesday. The coronavirus health crisis wiped out as much … Read more
By Reuters Staff (Reuters) – U.S. energy firms this week added oil and natural gas rigs for a sixth week in a row in the best quarter for boosting the rig count since the second quarter of 2017 as producers return to the wellpad with crude prices holding above $45 a barrel. The oil and gas … Read more
NEW YORK (Reuters) – In June, the United States imposed sanctions on half a dozen oil tankers managed by established shipping firms. It was a major escalation of American attempts to choke off Venezuela’s oil trade. Within weeks, a little-known company based in the United Arab Emirates took over management of several tankers that had … Read more
Canada’s oil and gas sector as diverse as the nation it serves By Shawn Logan Some of the people the Canadian Energy Centre has spoken to in 2020. It wouldn’t be a stretch to think many Canadians share a similar perception of what those working in the nation’s oil and gas industry look like. But over … Read more
CALGARY, AB, Dec. 30, 2020 /CNW/ – Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) (“Journey” or the “Company“) reports that it’s previously announced disposition (see press release dated October 30, 2020) of its Countess area assets has been mutually deferred with the purchaser to a new closing date of February 1, 2021. The assets include Journey’s newly commissioned 4.2 megawatt … Read more
Calgary, Alberta–(Newsfile Corp. – December 30, 2020) – Eagle Energy Inc. (“Eagle” or the “Corporation“) announces that it has obtained from the Alberta Securities Commission and the Ontario Securities Commission, on behalf of each of the provinces of Canada, orders granting its voluntary applications to cease to be a reporting issuer and for a full revocation … Read more
CALGARY, Alberta, Dec. 30, 2020 (GLOBE NEWSWIRE) — ARROW Exploration Corp. (“Arrow” or the “Company”) (TSXV: AXL) is pleased to announce the closing of the arm’s length disposition (the “Transaction”) of the LLA-23 Block to COG Energy Ltd. (“COG” or the “Purchaser”), as previously announced by the Company on August 24th, 2020. The gross proceeds … Read more
By Vanessa Dezem, Daniel Flatley and Dina Khrennikova Dec 29, 2020 (Bloomberg) Russia is stepping up work on the Nord Stream 2 pipeline before the U.S. tightens sanctions against the controversial project designed to feed more natural gas into Germany.Construction of the 1,230-kilometer (764-mile) pipeline reached a milestone on Monday with the completion of pipe-laying of … Read more
LONDON (Reuters) – Oil prices rose on Wednesday on the back of a weaker dollar, a decline in U.S. inventories and Britain’s approval of a second coronavirus vaccine, but both benchmark contracts remained on track for a decline of about 20% for the year. Brent crude futures gained 15 cents to $51.25 a barrel by … Read more
Wednesday, Dec.30, 2020 Trudeau gifting taxpayers broken promises and higher carbon taxes By Aaron Wudrick, Federal Director and Franco Terrazzano, Alberta Director (This column originally appeared in the Toronto Sun) Merry Christmas taxpayers: we get the gift of higher home heating bills and gas prices, courtesy of Prime Minister Justin Trudeau. The Trudeau government recently … Read more
By: Al Aliperti and Greg Zoll This article is intended to stimulate thought and discussion on concrete encased grounding electrodes (Ufer grounding) and is the result of an outgrowth of a recent assignment the author assisted with. The author recognizes the subject is somewhat controversial among electrical engineers and designers. Photo: Rebar cage with embedded … Read more
FORT MCMURRAY, Alta. — Suncor Energy Inc. says it is standing down mine operations at an oilsands site in northern Alberta following the deaths of two workers.
Company spokeswoman Jennifer Lomas says a dozer hit a light-vehicle truck at the Fort Hills…
CALGARY — The Alberta Energy Regulator is reporting a spill of about 400,000 litres of salty produced water from a pipeline owned by Calgary-based oil and gas producer ARC Resources Ltd.
It says the spill reported Christmas Day took place near Drayton…
By Jessica Summers and Sheela Tobben Dec 29, 2020 (Bloomberg) Oil advanced with support from a weaker dollar and expectations of declining U.S. crude inventories. Futures in New York rose as much as 1.5% on Tuesday, though liquidity was thin. A dip in the dollar boosts the appeal of commodities such as oil that are priced … Read more
A Snapshot of Canadian Energy Centre Research — From economic impact, to environmental leadership, to indigenous prosperity By Mark Milke, Lennie Kaplan, Ven Venkatachalam and Gregory John A selection of some of the 30 Fact Sheets and Research Briefs produced by the Canadian Energy Centre in 2020. There’s no shortage of opinions about Canada’s energy sector. But in many cases, … Read more
Characterizations by opponents that the sector is a laggard are incorrect By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Worker on a wildlife crossing at MEG Energy’s Christina Lake oil sands project. Wildlife crossings are strategically placed approximately every 400 metres over above-ground pipelines at … Read more
By Liam Denning Dec 28, 2020 (Bloomberg Opinion) If ever a year needed a shot of glass-half-full attitude, it’s 2020. I got it recently from an oil executive. Conversation turned inevitably to the pandemic and 10 million barrels a day of oil consumption — one in ten — going *poof*. Against which they offered this: Despite epic disruption, we still used 90 million barrels a … Read more
By Bloomberg Green Dec 28, 2020 (Bloomberg) 2020 was a monumental year for just about every kind of news, and climate news was no exception. As the world reeled from the shocks of the coronavirus pandemic, racial tension, and economic collapse, it also dealt with deadly heat, hellacious wildfires, and the most active Atlantic hurricane season in recorded history. We may also … Read more
By Reuters Staff MOSCOW (Reuters) -The Russia-led Nord Stream 2 consortium said on Monday it has completed laying pipes for the project in German waters, finishing work on a 2.6 kilometre-long portion of the pipeline, which had been stalled by the threat of U.S. sanctions. “We have completed this work,” the consortium said in an … Read more
The Carbon Offset trading market has seen a significant increase in activity during recent times. As more and more industry leaders move towards net-zero carbon emissions, many companies are looking into ways to generate or use carbon offsets, and demand for these offsets is expected to rise. Alberta, Canada, has had a carbon registry since … 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
CALGARY, ALBERTA, CANADA, /EINPresswire.com/ — Westech Industrial Ltd and Hobré Analyzer Solutions are pleased to announce effective immediately that we are now the exclusive distributors of Hobre’s on-line analyzers and sampling solution products. The partnership will bring Hobre’s 40+ years of expertise and innovative analyzer solutions to a wide range of industry clients including Oil &Gas, Chemical & Petrochemical, … Read more
While opponents bash Canada’s responsible, innovative, world leading energy sector, we’re just getting started on setting the record straight By Tom Olsen Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Phase 2 of the Canadian Energy Centre’s ‘When We Work, Canada Works’ campaign includes billboards in Vancouver, Toronto, Ottawa-Gatineau, … Read more
CALGARY, Alberta/LONDON (Reuters) -Oil prices inched higher on Thursday, helped by late-day buying in a low-volume session to close out the week. The market built gains overnight as Britain and the European Union reached a post-Brexit trade deal, reversed those gains, and then rebounded during the U.S. session to end modestly higher. U.S West Texas … Read more
(Bloomberg) Russia plans to support a further gradual increase in OPEC+ production at the next meeting in January, because crude prices are within an optimal range. “To restore our output, that we’ve reduced a lot, the price range of $45 to $55 a barrel is the most optimal,” Deputy Prime Minister Alexander Novak told reporters in … Read more
ST. JOHN’S, N.L. — Newfoundland and Labrador is giving $38 million to the Hibernia offshore oil project in a bid to protect 148 jobs over 18 months.
Premier Andrew Furey said Wednesday the money will create 300,000 hours of work on the offshore oil p…
By Jessica Summers Dec 24, 2020 (Bloomberg)Oil is poised for its first weekly loss since October as a new coronavirus mutation spreads through parts of the world and poses risks to energy demand in the wake of stricter lockdowns.Futures in New York declined nearly 2.7% so far this week, yet pared losses on Thursday with … Read more
(Reuters) – U.S. energy firms this week added oil and natural gas rigs for a fifth week in a row as higher energy prices prompt producers to keep returning to the wellpad in recent months. The oil and gas rig count, an early indicator of future output, rose 2 to 348 in the week to … Read more
TSX: TVE CALGARY, AB, Dec. 23, 2020 /CNW/ – Tamarack Valley Energy Ltd. (“Tamarack” or the “Company“) (TSX: TVE) is pleased to announce the closing of the sale of a newly created 2% gross overriding royalty (the “GORR Disposition“) to Topaz Energy Corp. on a select portion of the acquired Clearwater properties completed on December 21, 2020. Tamarack has committed to spending $80.0 … Read more
CALGARY, AB, Dec. 23, 2020 /CNW/ – (TSX: PMT) – Perpetual Energy Inc. (“Perpetual” or the “Company”) announced today that the revolving credit period applicable to the Company’s credit facility has been extended to March 1, 2021 and the $20 million borrowing limit maintained. The borrowing limit is scheduled to be redetermined and the revolving credit period extended on or before March 1, 2021. The … Read more
Wednesday, Dec. 23, 2020 Taxpayers release Naughty and Nice List Prime Minister Justin Trudeau tops the Naughty List Politicians that took pay cuts land on the Nice List CALGARY, AB: Prime Minister Justin Trudeau tops the Naughty List compiled by the Canadian Taxpayers Federation this year. “Lying to Canadians and hiking the cost of heating our homes is … Read more
Canada’s drilling rig count is down 20 active drilling rigs according to data collected by Baker Hughes for the week ending December 23, 2020. From one week ago, Alberta rig counts decreased 10 to 57 and the Saskatchewan rig counts decreased 6 to 9. Oil drilling decreased 10 to 31 and gas decreased 10 to … Read more
THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS CALGARY, Alberta, Dec. 23, 2020 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on the recent launch of the Hydrogen Strategy for Canada by the Federal Government. … Read more
(Reuters) – North American LNG exporters are sounding more confident about the prospects for new projects in 2021 due to a sharp rally in prices driven by surging Asian demand, even as most industry analysts expect next year to be another difficult one. Natural gas futures in Europe and Asia have climbed to their highest … Read more
By Reuters Staff MOSCOW (Reuters) – The Russia-led Nord Stream 2 consortium is expected to start laying gas pipes in Danish waters after construction was suspended for a year owing to the threat of sanctions from the United States, according to a Danish maritime regulator. Nord Stream 2, designed to double capacity of the existing … Read more
Dec 23, 2020 (Bloomberg) Oil steadied near $47 a barrel in New York after coming under pressure from signs of increased U.S. supply and the resurgence of the pandemic.West Texas Intermediate futures recouped earlier losses, though remain about 4% down this week. The American Petroleum Institute said U.S. crude inventories rose by 2.7 million barrels last … Read more
Dec 23, 2020 (Bloomberg) A great global restock is at hand, filling ships, trucks and trains, and also firing oil demand. During the depths of China’s coronavirus crisis at the start of the year, shipping behemoth A.P. Moeller-Maersk A/S reported an unprecedented number of canceled sailings as the Asian country all but shut itself off from … Read more
CALGARY, Alberta (Reuters) – Canada’s left-leaning New Democratic Party (NDP) opposition party criticized on Tuesday freshly-unveiled clean fuel standards, after a government impact analysis said higher fuel costs will hit lower- and middle-income households hardest. The Clean Fuel Standard, a key part of Ottawa’s climate plan, was released in draft form last week and aims … Read more
CALGARY — Bonterra Energy Corp. says it remains steadfastly opposed to a hostile takeover bid by Calgary oil and gas rival Obsidian Energy Ltd. after the latter extended its share tender deadline on Monday.
The target company says in a news release th…
Pulse Electronics: Having launched the partnership with Rimini Street, Alan Wong, Global IT Director, immediately found the support for SAP Business Suite he received to be superior to that received from SAP. He remarked, “I was impressed by how professional and well-organized the onboarding process was, especially with the archiving of 300,000 files and 10TB … Read more
The new edition is scheduled to be issued December 2020. As usual, there are many clarifications, updated references to codes and standards, updates to basic allowable stresses and added listed materials to the 2018 Edition of ASME B31.3, Process Piping. Becht has members on the involved ASME B31 committees and we are committed to sharing … Read more
Temporary Gas Sweetening Unit restores lost production. When 8 wells on a multiwell pad located in the Duvernay started producing an increased amount of H2S content, the client’s existing surface and downhole treatment for H2S mitigation became increasingly difficult to manage. Additionally, the increase in H2S was souring the fuel gas for their compressors. Roska … Read more
When access to vital energy or natural resource supplies are threatened, the impact goes well beyond the oil field and mine, with the potential to affect the workers and communities. Both the oil & gas and mining industries have a complicated supply chain. This supply chain – consisting of exploration, extraction, transportation, refining and distribution … Read more
WASHINGTON, D.C. — If Donald Trump has anything in common with Canada, it might be this: a shared craving for the attention of the American people that at times can border on the pathological.
Both could go through withdrawal symptoms in the new year…
CALGARY, AB, Dec. 22, 2020 /CNW/ – Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) (“Bonterra” or the “Company”) today acknowledges amendments to the unsolicited offer from Obsidian Energy Ltd. (“Obsidian”) to purchase all of the issued and outstanding common shares of Bonterra (the “Hostile Bid”) and continues to recommend that Bonterra Shareholders take no action, and REJECT the Hostile Bid by NOT TENDERING their … Read more
HOUSTON/NEW YORK (Reuters) – U.S. oil and gas shares and drilling activity are edging higher, but a disastrous year for the energy industry means the go-go days of the shale boom may be gone for good. Deep spending cuts that came with the collapse in fuel demand and oil prices due to the COVID-19 pandemic … Read more
CALGARY — Canadian exports of crude oil by rail fell only slightly in October from September, a rare period of stability in a year that’s included a record high month as well as one that saw an eight-year low.
The Canada Energy Regulator says rail shi…
Dec 22, 2020 (Bloomberg) Oil extended this week’s slump on fears that rising virus infections and a faster-spreading strain will inflict a new blow on fuel consumption.Futures are down more than 3% in New York since Friday’s close, though recouped some of the session’s earlier losses as U.S. legislation to revive the economy with massive spending … Read more
TSX: TVE CALGARY, AB, Dec. 21, 2020 /CNW/ – Tamarack Valley Energy Ltd. (“Tamarack” or the “Company“) (TSX: TVE) is pleased to announce the closing of two strategic acquisitions (together, the “Acquisitions“) which establish a significant consolidated and operated position in the Clearwater oil play in the Greater Nipisi area, along with interests in the Jarvie area of Alberta, for a … Read more
/NOT FOR DISSEMINATION IN THE U.S. OR THROUGH U.S. NEWSWIRES/ CALGARY, AB, Dec. 21, 2020 /CNW/ – Highwood Oil Company Ltd. (“HOCL“, “Highwood” or the “Company“) (TSXV: HOCL) announces the closing of its previously announced Clearwater disposition (the “Clearwater Disposition”) and revisions to the Company’s credit agreement. Closing of Clearwater Disposition Highwood is pleased to announce the successful closing of … Read more
CALGARY — The sombre mood that has gripped the Calgary-based oilpatch for several years is starting to show flickers of hope, with more financially secure companies making moves to grow in 2021.
Recent export pipeline news is offsetting the ongoing re…
December 22, 2020 | Source: Gibson Energy Inc. All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta, Dec. 22, 2020 (GLOBE NEWSWIRE) — Gibson Energy Inc. announced today that it has closed the previously announced offering of $250 million of 5.25% fixed-to-fixed rate subordinated notes due December 22, 2080 (the “Offering”). Gibson intends … Read more
CALGARY — Cenovus Energy Inc. says it has all key regulatory approvals in place to go ahead with its friendly takeover of oilsands rival Husky Energy Inc.The all-shares deal was approved by shareholders of both companies last week.The offer by Cenovus…
By David Yager In 2021 an unintended but welcome consequence of the COVID-19 vaccine will be a major reduction in aspirational and often disingenuous predictions about the future of oil. Using the time-worn adage of never letting a good crisis go to waste, since the pandemic gripped the world last March seemingly endless commentaries, forecasts … Read more
LONDON (Reuters) – Royal Dutch Shell on Monday said it will write down the value of oil and gas assets by $3.5 billion to $4.5 billion following a string of impairments this year as it adjusts to a weaker outlook. In an update ahead of its fourth quarter results on February 4, Shell said the … Read more
LONDON (Reuters) -Oil prices tumbled on Monday as a fast-spreading new coronavirus strain that has shut down much of Britain and led to tighter restrictions in Europe sparked worries about a slower recovery in fuel demand. Brent crude was down $2.23, or 4.3%, to $50.03 a barrel by 1308 GMT while U.S. West Texas Intermediate … Read more
CALGARY — Obsidian Energy Ltd. is extending its hostile takeover offer for Bonterra Energy Corp. and lowering the minimum tender condition for its bid.
The company says it has lowered the minimum tender condition to 50 per cent. It had earlier require…
Canada’s drilling rig count is down 9 active drilling rigs according to data collected by Baker Hughes for the week ending December 18, 2020. From one week ago, Alberta rig counts decreased 2 to 67 and the Saskatchewan rig counts decreased 8 to 15. Oil drilling decreased 11 to 41 and gas increased 2 to … Read more
A last-minute push by the Atlantic provinces to have Ottawa delay and further study its proposed new Clean Fuel Standard was not reflected in draft regulations published Friday.
In a joint letter sent Nov. 30, the energy ministers from the four Atlant…
By Robert Tuttle (Bloomberg) Oil workers in Alberta are falling victim to a growing spread of the pandemic in the Canadian province’s remote north, with a Chevron Corp. site among the latest to be struck.Chevron’s Kaybob operation in the Duvernay shale formation and Syncrude Canada Ltd.’s Aurora oil-sands mine were added to a government list that now figures … Read more
PRESS RELEASE – Westech Industrial Ltd, a leading provider of innovative analytical equipment, process control and instrumentation solutions, is pleased to announce we have been appointed the exclusive distributor for Western Canada with United Electric Controls (UE) of their Vanguard Wireless Gas Detector for Toxic and Combustible gases. The Vanguard expands our solutions portfolio of … Read more
Images captured by wildlife cameras used to protect animals from potential harm caused by energy development By Deborah Jaremko on December 18, 2020 A wolf is snapped by a trail camera. Photograph courtesy Cenovus Energy Canada’s oil sands sector is often characterized as having a massive physical footprint on the environment, but it’s actually very small … Read more
By GLJ A challenging aspect of competitor analysis and benchmarking within the major liquids rich plays of Western Canada is the inconsistent reporting of field products within the public production data record. For example, in the Alberta Duvernay play there is a broad understanding that liquids make up a substantial quantity of the field volumes, … Read more
Dec 18 (Reuters) – U.S. energy firms this week added oil and natural gas rigs for a fourth week in a row as producers keep returning to the well pad with crude prices trading over $45 a barrel since late November. The oil and gas rig count, an early indicator of future output, rose 8 … Read more
If the empirical evidence on carbon pricing presents skepticism, what are the activists’ true goals? The federal government released an updated climate plan full of big dreams and even bigger handouts. Touting the COVID-19 pandemic as an opportunity to build back to address climate change and deliver a stronger economy, the government has a vision … Read more
Environment Minister Jonathan Wilkinson said Ottawa and the incoming Biden administration both agreed zero emissions vehicles needed to be deployed faster Reuters David Ljunggren December 18, 2020 OTTAWA — Canada wants deeper environmental ties with the United States and one result could be a North American ban on the sale of new gasoline-powered passenger cars … Read more
By Vivian Nereim, Dina Khrennikova and Olga Tana (Bloomberg) OPEC+ will react faster to changes and take a more hands-on approach with the oil market, thanks to its accelerated schedule of monthly meetings, according to Russia and Saudi Arabia, the group’s leaders.More frequent OPEC+ conferences mean policy makers in oil-producing countries will drive the market in … Read more
By Kristine Servando (Bloomberg) Death. Suffering. Economic devastation. Political turmoil. The pandemic triggered a torrent of daily negative news. But throughout the worst health crisis in almost a century, there were also moments that brought relief and joy, or at least cautious optimism. Here’s a rundown of some bright spots this year and what we could … Read more
By Julian Lee (Bloomberg Opinion) It’s easy to get caught up in oil’s recovery. After an exceptionally fraught year, hopes are high that putting 2020 soundly behind us can only mean better days. But there’s still a long way to go to get back to anything like normal.That hard reality didn’t stop crude prices from rising by $14 a … Read more
By Esteban Duarte (Bloomberg) Sales of sustainable and project bonds in Canada are expected to take off next year after companies issued a record amount of corporate debt in 2020 to bolster cash reserves and push out maturities. Issuance of so-called environmental, social and governance securities is poised to grow as some borrowers lock in cheaper financing than … Read more
WINNIPEG, Manitoba, Dec 18 (Reuters) – Work on expanding Canada’s Trans Mountain oil pipeline has halted for more than two weeks due to safety concerns, the government-owned corporation said on Thursday. Trans Mountain TMC.UL Chief Executive Ian Anderson cited multiple worker safety incidents during the past two months and said the shutdown was voluntary. Construction was … Read more
Friday, Dec. 18, 2020 Trudeau’s second carbon tax means more costs at worst possible time CALGARY, AB: The Canadian Taxpayers Federation slammed Prime Minister Justin Trudeau for releasing regulations containing a second carbon tax known as the so-called clean fuel standard. “Trudeau needs to reverse his plans to hammer Canadians with his second carbon tax,” said … Read more
CALGARY, AB, Dec. 18, 2020 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company”) is pleased to announce the completion of its previously announced acquisition of Jupiter Resources Inc. (“Jupiter”) whereby it acquired all of the issued and outstanding shares of Jupiter for total consideration of approximately $630.0 million, comprised of 24.2 million Tourmaline common shares, and … Read more
CALGARY — Canadian Pacific says it will pilot a new project to build a hydrogen-powered train. The railway company says the line-haul locomotive will be the first of its kind in North America once it is retrofitted with hydrogen fuel cells and new bat…
WINNIPEG/TORONTO (Reuters) – Shares of North America’s hard-hit oil and gas producers are climbing sharply as investors bet COVID-19 vaccine rollouts will ease the pandemic’s travel restrictions and revive fuel demand. The gains, which have pushed the Canadian Energy Sector Index up over 40% since Nov. 9, come as oil prices rise well above spring … Read more
LONDON (Reuters) – Oil dipped towards $51 a barrel on Friday though still headed for a seventh weekly gain in a row as investors focused on the rollout of COVID-19 vaccines and looked past rising case numbers and tighter lockdowns in Europe. Pfizer has applied for approval in Japan for its vaccine, which is being … Read more
December 18, 2020 | Source: Prairie Provident Resources Inc. CALGARY, Alberta, Dec. 18, 2020 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) announces that the Company has reached agreements with its lenders providing for the renewal of its current credit facilities, an issue of US$11.4 million principal amount of 6-year senior subordinated … Read more
CALGARY, AB, Dec. 17, 2020 /CNW/ – Gear Energy Ltd. (“Gear“) (TSX: GXE) is pleased to announce that its Board of Directors have approved a $20 million capital budget for 2021 targeting stabilized production and continued improvement of the strong balance sheet. VIEW PDF Gear Energy Ltd. Provides 2021 Budget Guidance, Update to Credit Facilities and Conclusion of Strategic Alternatives Process … Read more
LONDON (Reuters) – Inadequate investment in exploration and new drilling may leave the world without enough oil in 20 to 30 years despite a shift towards renewable power sources, top energy analysts say. The long-term outlook contrasts with today’s situation where plunging oil demand due to the coronavirus crisis has left the market oversupplied, prompting … Read more
by Greg McLean CALGARY – December 17, 2020 – Based on outcomes alone, the last week of Parliament for 2020 was a whirlwind for me and the Natural Resources files on which I act as Shadow Minister. On Friday alone, I chaired the Natural Resources Committee which was able to question the Minister for the … Read more
SINGAPORE/LONDON (Reuters) – Oil climbed to a nine-month high on Thursday after government data showed a fall in U.S. crude stockpiles last week, while progress towards a U.S. fiscal stimulus deal and strong Asian demand also buoyed prices. The U.S. dollar set a 2-1/2 year low against major rivals on Thursday which also helped oil … Read more
December 16, 2020 | Source: Cenovus Energy Inc CALGARY, Alberta, Dec. 16, 2020 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) and Husky Energy Inc. (TSX: HSE) are pleased to announce the Court of Queen’s Bench of Alberta has issued a final order approving the previously announced Plan of Arrangement to combine the two companies. … 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
Author: KPMG Canada A new KPMG Global report finds that reporting on sustainability is on the rise in Canada. The vast majority (92 per cent) of Canada’s top 100 companies report on environmental, social, and governance (ESG) performance – an increase of 10 per cent in the last three years, and many (74 per cent) include sustainability-related information … Read more
JOHN’S, NL, Dec. 16, 2020 /CNW/ – As the Government of Canada continues to protect and support Canadians through the COVID-19 pandemic, it is also important that the country look to the future. Today, Canada’s Minister of Natural Resources, the Honourable Seamus O’Regan, launched the Hydrogen Strategy for Canada, an ambitious framework that seeks to position Canada as a global hydrogen leader, cementing this low-carbon and zero-emission fuel … Read more
Metric to be directly tied to compensation for all employees DENVER, Dec. 16, 2020 /CNW/ – Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today disclosed a goal to reduce methane intensity 33% by 2025. The objective, approved this week by its board of directors, will be tied to Ovintiv’s annual incentive compensation program for all employees beginning in 2021. The … Read more
Dec. 16, 2020 Calgary, AB – Following a 33-year career with Shell, Shell Canada President and Country Chair Michael Crothers has announced he will retire from the company in 2021. Crothers will be succeeded by Susannah Pierce, currently Director of Corporate Affairs, LNG Canada, and a Shell secondee. Both will remain in their current roles until … Read more
Tacoma LNG project will enable container ships transporting goods along the Pacific coast to switch from diesel to natural gas By Deborah Jaremko on December 16, 2020 Construction is underway on the Tacoma LNG project in Washington State, which is required to use Canadian-sourced natural gas to help reduce GHGs. Photograph supplied for Canadian Energy Centre … Read more
(Reuters) – A ban on new oil and gas drilling leases on federal lands would cost eight Western states $8.1 billion in tax revenue and $34.1 billion in investment in the next five years, according to a study released on Tuesday by the state of Wyoming. The report, commissioned by one of the nation’s top … Read more
By Elizabeth Low Dec 16, 2020 (Bloomberg) Oil slipped from its highest level in almost 10 months after an industry report pointed to an increase in U.S. crude stockpiles, taking some of the steam out of a vaccine and stimulus-driven rally.Futures dropped toward $47 a barrel in New York after the American Petroleum Institute reported crude … Read more
December 15, 2020 | Source: Pipestone Energy Corp. CALGARY, Alberta, Dec. 15, 2020 (GLOBE NEWSWIRE) — (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone” or the “Company”) is pleased to announce that its common shares and warrants have been approved for listing on the Toronto Stock Exchange (“TSX”) and will commence trading on the TSX at the opening of the … Read more
CALGARY — Husky Energy Inc. shareholders have approved a $3.8-billion all-share takeover bid by rival Cenovus Energy Inc., hours before Cenovus shareholders are widely expected to do the same.
The endorsement by Husky investors was resounding, with m…
Wendy Ferguson Owner and HR Specialist – Stick People Solutions Inc. My firm, Stick People Solutions, has seen a spike in inquiries for advice pertaining to the refusal of work as a result of the extra COVID-19 measures and restrictions put in place across Canada. We are seeing considerable uncertainty in the workplace, especially in … Read more
Let’s be honest. Nobody likes to be misled. That’s why an anti-Canadian oil and gas activist group’s ad that ran recently over the airwaves of our national broadcaster deserves some follow-up and correction. The fact is, we all win when we work together. Canada’s oil and gas resources are produced to the highest global standards, … 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 November, we profiled Alberta’s Inactive Well List, looking at … Read more
Hard Chrome Plating is popular among many industries for its use as a surface coating. Long prized for its hardness, ability to minimize sliding wear, corrosion protection and for extending the life of metal parts, it can be found in many applications such as hydraulic and pneumatic cylinders, pump shafts and rotors, swivel posts and … Read more
By Rick Hoffman If you’re looking for an expert witness you already have a costly problem. In the past, disputes were settled with firearms or fists, or perhaps a handshake. Now they are settled with attorneys. If you’re in this situation, you probably know you need a highly competent law firm and attorney to handle … Read more
Investing in technology is a proven way for an energy company to become more efficient. Specifically, investing in software to manage your back-office operations is an area where many energy companies still have room for improvement. During a downturn, examining your existing tech stack and processes to find new opportunities for improvement is an effective … Read more
WE HAVE SOME GREAT NEWS TO SHARE!! In these very uncertain and difficult times, we all have had to be innovative in our approach to keep ourselves safe and healthy. At Phoenix Industrial, this concept is no different. We have implemented additional safety protocols during the pandemic to keep our folks well. We have done … Read more
Roska DBO delivers cost effective solution for produced water management. When a producer forecasted that the initial produced water of their wells would exceed their injection capacity, they needed to find a cost effective solution that would enable them to maintain production. With a shortage of water take away capacity in the region and long … Read more
In the Energy Sector it is quite common for companies to shut down their operations and offices for two weeks or even longer over the Christmas Holidays. This can put a strain on a company’s cash flow, especially if they have to wait longer than normal to get paid for their outstanding invoices. Additionally, when … Read more
CALGARY, AB, Dec. 15, 2020 /CNW/ – Keyera Corp. (TSX: KEY) (“Keyera”) today released its inaugural environment, social, and governance (ESG) report. The announcement coincides with Keyera and Samsung Renewable Energy Inc. signing a 15-year power purchase agreement (PPA). VIEW PDFKeyera launches inaugural ESG report, signs solar power deal for 10% of electricity needs (CNW Group/Keyera Corp.) “Our … Read more
0.70 Share-for-Unit Exchange Ratio December 15, 2020| Source: TC Energy Corporation Alberta, Dec. 15, 2020 (GLOBE NEWSWIRE) — News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) today announced it has entered into a definitive agreement and plan of merger to acquire all the outstanding common units of TC PipeLines, LP (NYSE: TCP) (TCP or … Read more
Dec 15, 2020 (Bloomberg) The president of OPEC reiterated that the oil producers’ cartel shouldn’t rush to increase output early next year and said energy demand was still fragile with the coronavirus raging across parts of the world.Algeria’s Energy Minister Abdelmajid Attar, who holds OPEC’s rotating presidency, said there was no guarantee the group and its … Read more
By Deidra Garyk 2020 has been a strange year by many accounts. At the very beginning we started to hear news stories out of China about a virus and drones following people, yelling at them to get back in their houses. Some people scoffed, thinking, “Only in a Communist country. Thankfully I don’t live there.” … Read more
Dec 15, 2020 (Bloomberg) Oil traded near a nine-month high as the IEA cautioned that a market glut will last another year. Futures had earlier fallen on concerns that more pandemic lockdowns could slow a global rebound in fuel demand. New York is heading toward a second full lockdown after a surge in infections, with London being placed … Read more
LONDON (Reuters) – The roll-out of vaccines this month to combat the coronavirus pandemic will not quickly reverse the destruction wrought on global oil demand, International Energy Agency (IEA) warned on Tuesday. “The understandable euphoria around the start of vaccination programmes partly explains higher prices but it will be several months before we reach a … Read more
OTTAWA — The Canadian Home Builders’ Association says the Liberal government’s new $15-billion climate action plan includes welcome incentives for green renovations.
But the CHBA is also warning that regulators must be careful not to raise housing co…
Hello Everyone – Seasons Greetings! FUNDING NEWS! As per the Alberta Recovery Plan, $280M has been allocated – $180M from TIER and $100M from the Federal Low Economy Leadership Fund for: ERA’S Shovel-Ready Challenge to assist industrial sites reduce emissions and create jobs – $150M – the EOI deadline is December 22nd – it’s not … Read more
CALGARY, AB, Dec. 14, 2020 /CNW/ – Topaz Energy Corp. (TSX: TPZ) (“Topaz” or the “Company”) is pleased to announce it has entered into a non binding letter of intent with Tamarack Valley Energy Ltd. (“Tamarack”) for the purchase of royalty interests which includes a minimum capital development commitment (the “Royalty Acquisition”). The Royalty Acquisition provides free cash … Read more
CALGARY, AB, Dec. 14, 2020 /CNW/ – Highwood Oil Company Ltd., (“HOCL“, “Highwood” or the “Company“) (TSXV: HOCL) is pleased to announce that, as a result of its strategic alternatives review process, it has today entered into a definitive agreement with an arm’s length purchaser, Tamarack Valley Energy Ltd. (“Tamarack“) to divest of the Company’s Clearwater assets for cash consideration … Read more
CALGARY, AB, Dec. 14, 2020 /CNW/ – Tamarack Valley Energy Ltd. (“Tamarack” or the “Company“) (TSX: TVE) is pleased to announce two strategic acquisitions (together, the “Acquisitions“) which will establish a significant consolidated and operated position in the Clearwater oil play in the Greater Nipisi area along with interests in the Jarvie area of Alberta for a total net purchase price of $74.0 million, after … Read more
December 14, 2020 Calgary, Alberta – The Sniffers & its partner Keneco Environmental Inc. proudly announce their success in getting a client an approved AER[1] ALT FEMP program (Methane). This Alternative Fugitive Emission Management Program meets the annual methane reduction target while reducing the survey cost by up to 40% for surveys under Directive 060. Keneco … Read more
CALGARY, AB, Dec. 14, 2020 /CNW/ – Headwater Exploration Inc. (“Headwater” or the “Company“) (TSX: HWX) announces that the Company’s board of directors (the “Board”) has approved a 2021 capital budget of $85 – $90 million designed to provide December 2020 to fourth quarter average 2021 production growth of approximately 125%. The approved budget is expected to leave Headwater with a working capital surplus … Read more
Fully integrated, single‐source supplier performing services from Fabrication & Modularization, to Industrial Construction & Facility Maintenance. For over 25 Years Phoenix Industrial has had a presence in Western Canada Serving Oil & Gas, Pulp & Paper, Forestry, and Petrochemical Industries. Phoenix has managed strong, responsible growth with a focus on Visibility, Value and Accountability. Phoenix … Read more
ESG is an uber hot topic across industry and especially so in the energy world. Fortunately, digital innovations can help oil and gas companies meet their ESG commitments. This week, I’m part of a panel discussion on the topic of ESG, and I bring my usual perspective of the role of digital innovation to the table. But … 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 … Read more
Dec 14, 2020 (Bloomberg) After years in the shadow of the U.S. shale boom, the Canadian oil sands are emerging from 2020’s historic market crash with a slew of upbeat outlooks from Wall Street equity analysts. Morgan Stanley and Goldman Sachs Group Inc. are the latest firms to point out the industry’s ability to generate healthy … Read more
December 14, 2020 | Source: Gran Tierra Energy Inc. CALGARY, Alberta, Dec. 14, 2020 (GLOBE NEWSWIRE) — Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced a financial update. Key Highlights: On December 11, 2020, Remus Horizons PCC Limited (the “Acquiror”) entered into a private agreement with Gran Tierra Resources Ltd. (“GTRL”), a wholly owned subsidiary of Gran … Read more
Calgary engineering firm, Vista Projects, announces new agreement with Marbet Wil, a Polish environmental services company December 14, 2020 (Calgary, AB): Vista Projects Limited (Vista), a Calgary-based engineering firm, is pleased to announce a new agreement with Marbet Wil to engineer sulphur polymer production facilities in Canada. Vista sees this as an exciting opportunity for … Read more
Date: Tuesday Dec 15th, 2020 Speaker: The Honourable Sonya Savage, Minister of Energy of Alberta Speaker: Greg McLean, Member of the Canadian Parliament for Calgary Centre Location: Webinar A link will be emailed to your preferred address to you the day of the event Time: 12:00 PM MST Cost: SPE Member: Free Non- Member: $10 Register Here Abstract: Two of our prominent politicians … Read more
CALGARY — Pembina Pipeline Corp. is planning $785 million in capital spending next year as it moves to restart work on two key projects.
The company said Monday it will resume construction of the next phase of its Peace Pipeline expansion and go ahead…
Friday, Dec.11, 2020 Taxpayers Federation slams Trudeau’s massive surprise carbon tax hike OTTAWA, ON: Canadian Taxpayers Federation Federal Director Aaron Wudrick released the following statement in response to the Trudeau government’s announcement it would be hiking the federal carbon tax to $170/tonne by 2030: “In the run up to the last federal election, when Prime … Read more
Dec 11 (Reuters) – U.S. energy firms this week added the most oil and natural gas rigs in a week since January as producers keep returning to the wellpad with crude prices trading around $45 a barrel since late November. The oil and gas rig count, an early indicator of future output, rose 15 to … Read more
Scovan Engineering launches the first edition of it’s magazine! IGNITE is a forum to communicate who we are, where we are going, and how we intend to get there. Scovan reveals its strategic framework for the next ten years through it’s focus on Innovation, new technology and partnerships in the emerging energy sector. We hope you … Read more
CASE STUDY – Emerson ensures process unit safety with TESCOM™ Anderson Greenwood valves The refinery upgraded their block-and-bleed instrument valves which provided a safe, uniform, and reliable operation when configuring their pressure gauges, transmitters, and DP meters. APPLICATION Petroleum refinery equipment CHALLENGE Valves needed to be upgraded during a refinery turnaround. These valves enabled the … Read more
By Elizabeth Low Dec 13, 2020 (Bloomberg) Oil advanced toward $47 a barrel before the rollout of the first Covid-19 vaccine in the U.S. and as news of another tanker explosion in the Middle East raised concerns over the region’s stability.Futures rose 0.6% in New York after losing 0.5% on Friday. First deliveries of the Pfizer Inc.-BioNTech … Read more
Christmas is like a magnifying mirror – a season full of emotional intensity, a time that takes our existing states of mind and amplifies them in a unique way. If we’re happy and fulfilled, it can be a period of beauty, excitement and enjoyment. If we’re depressed, stressed or lonely, these feelings can become dangerously … Read more
Canada’s abundant supply of natural gas has potential to reduce Asia’s reliance on coal By Mark Milke and Ven Venkatachalam A man drives his tractor past a coal coking factory at sunrise in Linfen, Shanxi Province, China. Getty Images photo There’s a dearth of sensible analysis when it comes to reasonable ways in which to decrease carbon … Read more
Rosneft’s $170 billion Vostok project will employ 400,000 workers, create 15 ‘industry towns’ and build 800 km of new pipelines By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Russia’s largest oil company doesn’t seem to be buying into the flawed peak oil narrative that has taken … Read more
By Andres Guerra Luz Dec 11, 2020 (Bloomberg) Oil just managed a weekly gain as an impasse in Washington over pandemic relief dimmed chances of an imminent boost to demand.Futures in New York eased off a nine-month high alongside a broader market decline as bipartisan talks on another round of U.S. fiscal stimulus stalled. West Texas Intermediate … Read more
OTTAWA – December 11, 2020 – Greg McLean, Member of Parliament for Calgary Centre, and Shadow Minister for Natural Resources & Canadian Northern Economic Development Agency (CanNor), seconded by Warren Steinley, Shadow Minister for Economic Development & International Trade, introduced a Private Member’s Bill today creating a non-refundable performance-based tax credit for carbon capture, utilization and … Read more
Yangarra Announces Completion of Borrowing Base Review and 2021 Capital Budget CALGARY, AB, Dec. 10, 2020 /CNW/ – Yangarra Resources Ltd. (“Yangarra” or the “Company”) (TSX: YGR) completes its semi-annual borrowing base review and sets 2021 Capital Budget. The syndicated senior credit facility has been confirmed at $210 million. All other terms remain the same. The Company’s banking syndicate … Read more
OTTAWA — The federal government has released a climate change plan that includes steady increases to its carbon tax in each of the next 10 years.
The federal price on carbon will continue to increase by $10 a tonne until it reaches $50 per tonne in 20…
By Brian Parkin and Vanessa Dezem Dec 11, 2020 (Bloomberg) Germany is looking at a legal mechanism that would help protect Russia’s controversial Nord Stream 2 natural gas pipeline from U.S. sanctions. With work on the link due to resume off Germany’s Baltic coast, senior lawmakers in Berlin are discussing the creation of a state-owned foundation that could … Read more
By Sharon Cho and Alex Longley Dec 11, 2020 (Bloomberg) Oil retreated in London, slipping from a nine-month high and cooling a rally that has added more than 40% to crude prices since early November.Prices erased earlier gains on Friday as the dollar climbed and equities fell. Brent crude had topped $50 on Thursday, though it … Read more
CALGARY — Inter Pipeline Ltd. says it will shell out $1 billion in capital expenditures in 2021 as it pushes to finish its petrochemical plant.
The Calgary-based company says it will spend $800 million next year on the Heartland Petrochemical Complex…
Ever wonder who’s behind the anti-pipelines protests in Canada? The illegal blockades? The steady stream of activism and campaigning that never seems to end? Aaron Gunn went to Northern B.C. with a film crew to try and talk to some of these “so-called” protesters and those they claim to represent. Here’s what you need … Read more
CALGARY, AB, Dec. 10, 2020 /CNW/ – Inter Pipeline Ltd. (“Inter Pipeline”) (TSX: IPL) announced today a $1 billion capital expenditure program for 2021. Approximately $930 million, or 93 percent, of total capital expenditures will be for organic growth initiatives, with the remainder invested in sustaining capital projects. Capital Expenditure Summary 2021 Forecast (millions) Growth Capital NGL Processing $860 Conventional Oil … Read more
Strong execution and focus positions AltaGas to achieve 2020 guidance, be well-positioned to demonstrate durable increases in 2021 normalized earnings per share1, and return more capital to shareholders through 4% annual dividend increase CALGARY, AB, Dec. 10, 2020 /CNW/ – AltaGas Ltd. (AltaGas or the Company) (TSX: ALA) today provided an update on its long-term strategic plan, reiterated 2020 guidance, introduced its … Read more
CALGARY, AB, Dec. 10, 2020 /CNW/ – Crew Energy Inc. (TSX: CR) (“Crew” or the “Company”) is pleased to announce that our Board of Directors (the “Board”) has approved a capital expenditure budget for 2021 and an innovative asset development plan for 2021 and 2022, which are expected to expand margins through an efficient calibration of Crew’s production to … Read more
CALGARY, AB, Dec. 10, 2020 /CNW/ – Waterous Energy Fund (“WEF“) acknowledges the filing on December 3, 2020 by Osum Oil Sands Corp. (“Osum” or the “Company“) of an application to the Alberta Securities Commission (“ASC“), seeking to cease trade WEF’s all-cash offer to acquire up to 52,500,000 common shares of Osum (the “Offer“). WEF is confident in its Offer. … Read more
Wind and solar power are the main focus in the fight against climate change, but there are sources of greenhouse gases they can’t clean up. Manufacturing steel, cement and chemicals has traditionally required fossil fuels, either to burn to create the extreme temperatures needed, or as raw materials and catalysts for chemical reactions. That’s why … Read more
Dec 10, 2020 (Bloomberg) Oil rose as more countries approved Covid-19 vaccines, boosting the demand outlook and shrugging off a bumper increase in U.S. crude inventories. There are continuing signs of robust demand in Asia with Chinese refiners moving early to buy oil from as far afield as the North Sea. Indian Oil Corp., which has … Read more
Calgary-based Whitecap Resources Inc. is cementing its position as a consolidator of conventional oil and gas producers in Western Canada with a friendly $550-million all-stock deal to buy rival TORC Oil & Gas Ltd.
“This strong-on-strong combinati…
December 09, 2020 CALGARY, Alberta, Dec. 09, 2020 (GLOBE NEWSWIRE) — Cardinal Energy Ltd. (“Cardinal” or the “Company”) (TSX: CJ) announces it has received approval from its syndicate of lenders to extend our credit facilities (“Facilities”). The Facilities were renewed at $225 million and extend the revolving period and maturity date to May 31, 2021 … Read more
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December 09, 2020 | Source: Freehold Royalties Ltd. NOT FOR DISSEMINATION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW. CALGARY, Alberta, Dec. 09, 2020 (GLOBE NEWSWIRE) — Freehold Royalties Ltd. (Freehold) (TSX:FRU) announces that it has completed its previously announced bought deal financing, issuing 9,856,000 subscription … Read more
December 09, 2020 16:01 ET | Source: Gibson Energy Inc. All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta, Dec. 09, 2020 (GLOBE NEWSWIRE) — Gibson Energy Inc. announced today that it will issue $250 million of 5.25% fixed-to-fixed rate subordinated notes due December 22, 2080 (the “Offering”). The Offering is expected to close … Read more
CALGARY — Canadian Natural Resources Ltd. says it plans to increase its capital spending next year by nearly 19 per cent to $3.2 billion.
About 42 per cent of spending or $1.345 billion will go to conventional and unconventional assets, while 58 per c…
By Lars Erik Taraldsen, Lars Paulsson and Jesper Starn Dec 8, 2020 (Bloomberg) After being harassed on social media and told repeatedly that she’s a traitor who should be in jail, Norway’s 34-year-old energy minister is bracing for a controversial election campaign. In the country that has amassed a trillion-dollar fortune built on the revenue from … Read more
By Alex Longley Dec 9, 2020 (Bloomberg) Oil held near $49 a barrel after two tiny Iraqi oil wells were attacked and markets globally rose on the prospect of additional U.S. stimulus.Brent futures rose 0.2%, flipping between gains and losses. Civil defense teams are trying to put out a blaze at the wells in the Khabbaz … Read more
One month into the first wave of the pandemic in North America, I argued that the way to sell to oil and gas customers was broken. Here’s how to fix it. Selling To Oil and Gas Is Broken The big idea here is that the way we sell stuff to oil and gas customers is … Read more
December 09, 2020| Source: Canadian Natural Resources Limited CALGARY, Alberta, Dec. 09, 2020 (GLOBE NEWSWIRE) — Canadian Natural’s President, Tim McKay, commented “Canadian Natural is a unique, sustainable and robust company, proven by its ability to generate sustainable free cash flow through the commodity price cycle, setting us apart from our peers. Our balanced, diverse and high … Read more
December 08, 2020 16:02 ET | Source: Gibson Energy Inc. CALGARY, Alberta, Dec. 08, 2020 (GLOBE NEWSWIRE) — Gibson Energy Inc. announced today that it has reached another milestone in its sustainability journey by being recognized by CDP (formerly Carbon Disclosure Project), a recognized leader in environmental reporting, by receiving an A- rating. CDP’s scoring methodology assesses … Read more
December 08, 2020 | Source: Arrow Exploration Corp. CALGARY, Alberta, Dec. 08, 2020 (GLOBE NEWSWIRE) — ARROW Exploration Corp. (“Arrow” or the “Company”) (TSXV: AXL) and Petrolco S.A. (“Petrolco”), the Company’s partner on the Tapir Block in the Llanos Basin, are pleased to announce the re-start of oil production from the Rio Cravo Este-1 (“RCE-1”) well. … Read more
All financial figures are in Canadian dollars ($ or C$) and all references to barrels are per barrel of bitumen sales unless otherwise noted CALGARY, AB, Dec. 7, 2020 /CNW/ – MEG Energy Corp. (TSX: MEG) (“MEG” or the “Corporation”) announced today its 2021 capital investment plan and operational guidance. Highlights include: 2021 capital budget of $260 million, expected to … Read more
CALGARY, AB, Dec. 8, 2020 /CNW/ – Whitecap Resources Inc. (“Whitecap” or the “Company”) (TSX: WCP) and TORC Oil & Gas Ltd. (“TORC”) (TSX: TOG) are pleased to announce a business combination (the “Business Combination”) of two strong energy franchises resulting in a well-capitalized, low decline, light oil weighted company with an attractive free funds flow profile. … 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. Succeeding in oil and gas development comes down to how well and how … Read more
Coventya: The strategy of implementing non-SAP-supplied support proved to be a pivotal moment for Coventya. The savings and resource reallocations have given the IT team capacity to complete several focused, high-impact projects, such as a master data management (MDM) initiative and an SAP password reset program. Read the Story
Proper instrumentation is critical to a plant’s successful production and operation, which makes it very easy to become overwhelmed with all the different options available. The components that make up instrumentation must be monitored and put on a path that best eliminates the possibility of other forces negatively affecting their performance. One area where instrumentation … Read more
The American Society of Mechanical Engineers (ASME) Honors & Awards program celebrates individuals who have made important contributions in various engineering disciplines. Awards recognize those who have made major achievements, presented groundbreaking papers or demonstrated a commitment of service to the Society. Don Frikken was recently awarded the J. Hall Taylor Medal for his distinguished … Read more
OTTAWA — A new report from the parliamentary budget officer says the federal government could end up losing money on the Trans Mountain pipeline if it further tightens its climate policy.
The federal government bought the pipeline, and the unfinished …
VARENNES, Que. — Enerkem and a group of partners, including Shell, Suncor Energy Inc. and Hydro-Quebec plan to spend $876 million to build a biofuel production plant in Quebec from non-recyclable residual materials and wood waste.
Varennes Carbon Recy…
Qnergy’s proven 5.65kW PowerGen Stirling engine can be paralleled to scale up power and reliability in critical off-grid power applications. Whether it be standby power redundancy or higher power applications, the ultra-reliable, clean burning Stirling engines can be dispatched to meet your custom power needs. No need to struggle with oversized high maintenance gensets, load … Read more
Innovative emissions reduction technology addresses loading losses while reducing costs and increasing safety. Roska DBO was approached by a company that was concerned that their truck loading activities could lead to non-compliance emissions. The AER stipulates that any off lease odours are unacceptable. This presents a challenge for energy companies as the current commercial technologies … Read more
Rock brittleness is an important reservoir property to characterize unconventional shale reservoirs for optimal stimulation design. A Young’s modulus (YM) and Poisson’s ratio (PR) cross-plot is a widely used standard of rock brittleness indicator in the oil and gas industry. Rocsol’s D-Series Technology software (D-ROCK module) calculates YM and PR from drilling data and therefrom … Read more
Canadian Market Partnership for Next Generation Evaporative Technology Crystal Clearwater Resources (CCR) and Integrated Sustainability are pleased to announce they have entered into an exclusive partnership agreement for Canada. In the agreement, CCR grants Integrated Sustainability an exclusive sub-license under Thermal Purification Technologies North America (TPTecNA) patents related to their Low-Temperature Distillation (LTDis®) technology. … Read more
Announcement of 5G technology supplier Ericsson puts Xplornet on track to provide 5G wireless to rural residents and businesses at same time as Canada’s biggest cities WOODSTOCK, NB – Xplornet Communications Inc., Canada’s largest rural-focused broadband service provider, today announced the selection of Ericsson as its technology supplier for the upcoming deployment of 5G wireless … Read more
Superior Products, Exceptional Service Viking is a well established and respected provider of instrumentation and process control products for the Ontario and Alberta market. We service a wide range of industries including petrochemical refineries, analytical applications, emission monitoring, utilities, power generation, water and wastewater, manufacturing, and OEMs. Viking has the capability of developing a product … Read more
CALGARY — Enbridge Inc. raised its dividend as it released its latest financial guidance.
The pipeline company says it will increase its quarterly payment to shareholders to 83.5 cents per share, up from 81 cents per share.
The first payment at the ne…
WASHINGTON, D.C. — Critics of Canada’s most controversial cross-border pipeline projects aren’t taking their demise for granted under president-elect Joe Biden.
A new report from the U.S.-based Rainforest Action Network says two of them — Keystone XL…
By Sharon Cho and Alex Longley Dec 8, 2020 (Bloomberg) Oil swung between gains and losses as the market weighed the outlook for demand as coronavirus vaccines begin.Futures in New York traded below $46 a barrel, driven by fluctuations in the dollar and equities. The U.K. issued its first Covid-19 vaccinations on Tuesday and there are … Read more
December 07, 2020 17:15 ET | Source: Gran Tierra Energy Inc. Credit Facility Borrowing Base Redetermined to $215 Million 2021 Capital of $130-150 Million, Production of 28,000-30,000 BOPD, Cash Flow1 of $150-170 Million Resumption of Development Drilling at Acordionero Oil Field CALGARY, Alberta, Dec. 07, 2020 (GLOBE NEWSWIRE) — Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced … Read more
CALGARY — Shares in junior oil and gas producer Cardinal Energy Ltd. rose eight cents or 12.3 per cent on Monday to 73 cents after it announced billionaire oilman Murray Edwards stands to nearly double his stake in the company to about 18 per cent.
Be…
December 07, 2020 21:51 ET | Source: TC Energy Corporation CALGARY, Alberta, Dec. 07, 2020 (GLOBE NEWSWIRE) — News Release – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or Company) today announced that it has established an at-the-market equity program (ATM Program) that allows the Company to issue common shares from treasury (Common Shares) having an aggregate … Read more
December 08, 2020 | Source: Pipestone Energy Corp. photo-release Area Infrastructure Map Refer to map Go-Forward Processing Capacity and Take-or-Pay Commitments Refer to chart PDF Available: http://ml.globenewswire.com/Resource/Download/e3b1d2af-e12e-4149-bb72-efca92857f45 CALGARY, Alberta, Dec. 08, 2020 (GLOBE NEWSWIRE) — (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone” or the “Company”) is pleased to announce it has entered into an agreement with Veresen Midstream LP (“Veresen … Read more
By Deidra Garyk The cost to the middle class could push some into poverty The Clean Fuel Standard, what a clever moniker. Who doesn’t want clean fuel? If you don’t support a clean fuel standard, does that mean that you want dirty fuel? Gasp! Shouldn’t we strive to use low-carbon fuels? Absolutely! But don’t be … Read more
It’s now the 9th month of the COVID-19 pandemic, and I’ve been reflecting on how much business and life has transformed since this time last year. From our economy to the role of technology in our lives, we now live in a very different world, with new risks and uncertainties – including to our money. … Read more
As Asian nations make plans to build hundreds of coal-fired plants, a shift to Canadian LNG could help reduce global GHG emissions By Ven Venkatachalam and Mark Milke Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Coal-fired power station in Shanghai, China. Getty Images photo Download the PDF here Download … Read more
Committed to delivering an exceptional and safe event to support economic growth and recovery, the Global Energy Show is moving to the fall as a prudent step in returning to in-person, live experiences. North America’s flagship energy event will be held September 21-23, 2021 at the BMO Centre. Details HERE www.globalenergyshow.com
December 07, 2020 | Source: Gibson Energy Inc. All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta, Dec. 07, 2020 (GLOBE NEWSWIRE) — Gibson Energy Inc. announced today its outlook for growth capital expenditures in 2021 of up to $200 million. Projects currently sanctioned by the Board of Directors, or with strong line of sight … Read more
CALGARY — Calfrac Well Services Ltd. says it is planning a $55-million capital spending program for 2021.
The oilfield services company says the plan consists primarily of maintenance capital expenditures.
Calfrac president and chief operating officer…
By Sharon Cho and Alex Longley Dec 7, 2020 (Bloomberg) Oil fell from its strongest close in nine months, hampered by weaker risk sentiment in global markets.Crude futures were down 1.9% in New York, with the dollar trading higher and European stock markets declining. It follows a rally last week after OPEC and its allies agreed … Read more
December 07, 2020 | Source: Cardinal Energy Ltd. CALGARY, Alberta, Dec. 07, 2020 (GLOBE NEWSWIRE) — Cardinal Energy Ltd. (“Cardinal” or the “Company“) (TSX: CJ) announces that it has entered into subscription agreements for a non-brokered private placement of approximately $16,920,833 principal amount of 2nd lien secured notes (the “Notes“) issued at a 4% discount for … Read more
December 07, 2020 07:00 ET | Source: Parex Resources Inc. CALGARY, Alberta, Dec. 07, 2020 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX:PXT), a company headquartered in Calgary, Alberta and focused on Colombian oil exploration and production, herein announces that Mr. Dave Taylor has elected to retire from the Company under its normal course retirement … Read more
December 07, 2020 | Source: Pieridae Energy Limited NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR DISSEMINATION IN UNITED STATES Strong Financial Growth Anticipated Pre- and Post-FID Investments Approved for Goldboro LNG Highlights: Net operating income (“NOI”)1 growth to $100-$130 million Adjusted Funds Flow From Operations (“AFFO”)1 increase to $80-$110 million Adjusted operating expenses1 of $9.50-10.50/boe Production of … Read more
Calgary, AB – DECEMBER 7, 2020 – GLJ is pleased to announce the release of GLJ IntelliCasts™, a subscription product that offers rapid insight into oil and gas asset valuation. Powered by a mix of machine learning, modern decline analytics and five decades of play knowledge, this is indispensable well-level insight for producers, debt & … Read more
Techmation’s Drumheller field office has been open since 2005. With over 16 years of experience in the industrial field and over 20 full time employees between our Drumheller and Stettler Branches. Winter is around the corner, take advantage of our 24 hour on call service. Please reach out to our Drumheller office for any of … Read more
Calgary, Alberta, December 7th, 2020 – Intrepid Group Ltd., a Western Canadian organization head-quartered in Calgary, Alberta has concluded an Exclusive Distributorship Agreement with ASTAVA Instrumentation Solutions to provide its products and solutions portfolio. The move, which leverages the strong industry experience of both organizations, will expand Intrepid’s ability to provide products and solutions to … Read more
Good things come in small packets Moisture and Corrosion Control Packets provide the best protection against damage from relative humidity and corrosion for any enclosure or piece of equipment that is operating, in transit, or in storage. The contents of each packet will not affect or damage non-metal material and can withstand maximum temperatures of … Read more
Join us on December 10th from 12:00pm – 1:00pm MST for the SSi Artificial Lift webinar on ‘GETTING MORE FROM THE WELL – THE SSI DIFFERENCES’. Register in advance here: https://bit.ly/2Jc73WQ
CALGARY — Alberta is set to meet its goal to eliminate coal-fired electricity production years earlier than its 2030 target, thanks to recently announced utility conversion projects.
Capital Power Corp.’s plan to spend nearly $1 billion to switch two …
Connecting your legacy industrial cameras to Osperity’s Intelligent Visual Monitoring Platform is a very cost-effective way to benefit from exception-based video analytics Osperity’s flexible open platform is a camera agnostic system which makes it easy to onboard industrial rated legacy cameras already installed in the field. If you have cameras on your site you likely … Read more
Dec 4 (Reuters) – U.S. energy firms this week added oil and natural gas rigs for the 11th time in 12 weeks as producers return to the wellpad even as most are cutting spending this year and next. The oil and gas rig count, an early indicator of future output, rose three to 323 in … Read more
Indigenous ownership stake in B.C.’s Coastal GasLink pipeline among those supported by First Nations Major Project Coalition By Gregory John Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Members of the First Nations Major Projects Coalition (left to right) JP Gladue (strategic advisor), Chief Corrina Leween (vice-chair), Chief Sharleen … Read more
The last thing Canadians need right now is another expensive tax during the midst of a global pandemic while heading into a national debt crisis. We need to Stop the Second Carbon Tax or what we have deemed the “High Cost Fuel Standard“ “It’s the green policy paradox. Governments want to achieve greenhouse gas reductions at the … Read more
December 04, 2020 | Source: Parkland Corporation CALGARY, Alberta, Dec. 03, 2020 (GLOBE NEWSWIRE) — Parkland Corporation (“Parkland”, “we”, “our”, or “the Company”) (TSX:PKI) is pleased to announce that through its wholly owned U.S. subsidiaries (collectively, “Parkland USA”), it has entered into a series of transactions (the “Acquisitions”) to acquire: The assets of Story Distributing Company and … Read more
WASHINGTON (Reuters) – The annual U.S. defense policy bill unveiled by lawmakers late on Thursday contains sanctions that backers say will halt one of Russia’s biggest projects in Europe: the Nord Stream 2 gas pipeline. The $11 billion Nord Stream 2 project, led by Russian state energy company Gazprom and aimed at doubling the existing … Read more
‘At over $11 billion in direct spending alone, oil and gas spending in Atlantic Canada is impactful’ By Mark Milke and Ven Venkatachalam Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A jackup offshore oil drilling rig is ready for transport on the deck of a heavy lift vessel. George’s Island … Read more
CALGARY — It seems like a no-brainer to use clean-burning hydrogen to offset the environmental negatives of natural gas for warming homes, but pilot projects to do just that starting next year illustrate nothing is simple about this trendy new energy …
CALGARY, AB, Dec. 4, 2020 /CNW/ – Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX and NYSE: CPG) is pleased to announce its formal 2021 capital expenditures budget and production guidance. KEY HIGHLIGHTS Capital expenditures of $475 to $525 million and annual average production guidance of 108,000 to 112,000 boe/d. Disciplined, flexible and returns focused budget fully funded at … Read more
Faster Forests program looks to reclaim boreal forest at a quicker pace following exploratory drilling By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A worker checking plant vigor at a reclaimed site in Alberta. Photograph supplied for Canadian Energy Centre Oil sands producers have planted more … Read more
CALGARY — Crescent Point Energy Corp. says it is cutting its capital spending budget for 2021 because of the ongoing volatility in oil prices.
The Calgary-based company says it plans to spend between $475 million and $525 million next year, trimming $…
COPENHAGEN — Denmark has decided to end all oil and gas activities in the North Sea by 2050 and has cancelled its latest licensing round, saying the country is “now putting an end to the fossil fuel era.”
The Danish Parliament voted late Thursday to e…
December 03, 2020| Source: TransGlobe Energy Corporation This Announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 (“MAR”). Upon the publication of this Announcement, this inside information is now considered to be in the public domain. AIM & TSX: “TGL” & NASDAQ: “TGA” CALGARY, Alberta, Dec. 03, 2020 (GLOBE NEWSWIRE) — TransGlobe Energy … Read more
By David Wethe Dec 3, 2020 (Bloomberg) U.S. benchmark oil prices will need to trade in a range of $35 to $45 a barrel next year just to keep production flat, according to a new report by BloombergNEF.The report highlighted different estimates needed to keep output steady from the major oil plays. For the Permian and … Read more
By Laura Hurst Dec 4, 2020 (Bloomberg) The change in the U.S. presidency will bring the collaboration and set of progressive policies needed to tackle the energy transition, Royal Dutch Shell Plc’s chief executive officer said.President Donald Trump pulled the U.S. out of the Paris Agreement on global warming and railed back environmental protections while promising … Read more
By Ann Koh and Alex Longley Dec 4, 2020 (Bloomberg) Oil extended gains toward $50 a barrel after OPEC+ reached a compromise deal to gradually taper production cuts. Futures rose 1.1% in London after closing at the highest level in nine months on Thursday. After five days of talks, the group will start adding 500,000 barrels … Read more
Dec 4, 2020 (Bloomberg) After five days of difficult talks that exposed new rifts between core members, OPEC+ agreed to gently ease output cuts next year. The deal appeared to satisfy the oil market and most of the cartel’s members, but strained the group’s unity and set up testing times ahead.Saudi Energy Minister Prince Abdulaziz bin Salman, de … Read more
CALGARY, Dec. 3, 2020 /CNW/ – Pembina Pipeline Corporation (“Pembina”, “our”, “we” or “the Company”) (TSX: PPL) (NYSE: PBA) today released its 2020 Sustainability Report (the “2020 Report”). This marks our second full-length report outlining the Company’s approach, recent performance and our future initiatives for environmental, social and governance (“ESG”) factors that are most material to our stakeholders and business. The … Read more
ST. JOHN’S, N.L. — Husky Energy will receive $41.5 million in federal money to maintain jobs and move toward restarting its West White Rose offshore oil project in Newfoundland and Labrador, if conditions permit.
Newfoundland and Labrador Premier Andr…
Calgary / Alberta / Dec 03, 2020 – Hive Innovations Inc. (HIVE) has announced the acquisition of HipVap Technologies Inc.(HipVap) as an addition to their growing suite of innovative SAGD technologies and solutions. HipVap’s Indirect Fired Steam Generator (IFSG) is a transformative steam generation solution that can drastically reduce the facility costs associated with typical … 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 KPMG Canada Companies are looking to better understand financial risks from climate change, and effectively disclose these to stakeholders. Scenario analysis, part of the TCFD recommendations, provides a structured way to identify a range of potential long-term futures, allowing companies to understand the climate-related risks relevant to their business and how they may evolve … Read more
December 03, 2020 | Source: Fraser Institute CALGARY, Alberta, Dec. 03, 2020 (GLOBE NEWSWIRE) — Alberta’s ability to raise own-source revenues—known as the province’s fiscal capacity—has shrunk substantially in the past six years. This development has rendered the province’s high spending levels unsustainable, and places Alberta at risk of becoming a “have-not” province, finds a new study … Read more
CALGARY — A Canadian oil company with production from both oilsands and light oil and gas wells is forecasting lower spending and little change in production in 2021.
Athabasca Oil Corp. says it plans to spend $75 million next year, versus $85 million…
By Matthew A. Winkler Dec 3, 2020 (Bloomberg Opinion) Business disruption in 2020 wasn’t just about the global pandemic. This was also the year when investors reconfigured the $2.7 trillion auto industry.Electric-car companies are suddenly worth half of the total market capitalization of the world’s 10 most valuable automakers. That’s because money managers sized up the … Read more
By Ann Koh and Alex Longley Dec 3, 2020 (Bloomberg) Oil fell before an OPEC+ meeting as powerbrokers in the alliance haggle over output policy after failed talks earlier in the week. Futures in New York traded near $45 a barrel. Discussions are now focusing on proposals for a gradual easing of production cuts over several months, following … Read more
By Javier Blas, Salma El Wardany, Grant Smith and Dina Khrennikova Dec 3, 2020 (Bloomberg) OPEC+ is closing in on a deal to gently ease output curbs after days of fractious negotiations that revealed deep cracks at the core of the cartel.After direct talks, Russia and Saudi Arabia have thrashed out a plan to take to … Read more
By Brian Wingfield, Alex Longley and Sherry Su Dec 3, 2020 (Bloomberg) S&P Global Platts is considering adding a key U.S. crude grade to its North Sea benchmark, a move that could transform the way oil prices are set in many parts of the world.The pricing agency has opened consultations on adding West Texas Intermediate Midland … Read more
Expectations are high OPEC will keep it together and extend its historic output-cut agreement. The price crash will be huge if it doesn’t. By Julian Lee December 1, 2020 The risk of OPEC’s output deal collapsing is small, but it’s not zero. Julian Lee is an oil strategist for Bloomberg First Word. Previously he worked … Read more
OTTAWA — Provinces are criticizing the federal Liberals for failing to signal more help for health-care systems and strained provincial coffers in its new spending plans, setting up a potential showdown next week between the prime minister and premier…
CALGARY, AB, Dec. 2, 2020 /CNW/ – Clearview Resources Ltd. (“Clearview” or the “Company”) is pleased to announce its financial and operational results for the three and nine months ended September 30, 2020. HIGHLIGHTS Over the past several months, the Company has been focused on the completion of three financing initiatives to improve the Company’s financial position during these unprecedented times and for the future. These … Read more
A former chief executive of one of Canada’s largest oil and gas companies is taking comfort in reading between the lines of the fall economic statement the federal government released Monday. “The oil and gas industry wasn’t mentioned in the budget, but the undertone is that the Liberals have figured out that this fiscal hole – if … Read more
CALGARY — Baytex Energy Corp. says its is budgeting for capital spending of between $225 million and $275 million next year, a reduction at the midpoint from what it expects to spend this year.
The Calgary-based company says the budget will result in …
H3M has been involved with the SRP since its inception and has been very successful connecting numerous companies with the funding to date. We made several applications and are currently conducting Environmental Assessments for our clients in Alberta. We achieved an incredible 95% success rate for all Alberta submitted applications. H3M can help clients navigate … Read more
Yesterday, the Trudeau government released its fall fiscal update for 2020, which included more spending measures and grimmer deficit projections than previously anticipated. Unfortunately, the federal government also demonstrated little concern for the long-term health of federal finances. The update projects 2020/21 program spending will reach $621.4 billion—an increase of $28.8 billion since the … Read more
December 02, 2020 | Source: Cenovus Energy Inc CALGARY, Alberta, Dec. 02, 2020 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) and Headwater Exploration Inc. (TSX:HWX) are pleased to announce the closing of the acquisition by Headwater of Cenovus’s assets in the Marten Hills area of Alberta. Pursuant to the transaction, Headwater acquired a 100% working … Read more
December 02, 2020 | Source: Baytex Energy Corp. CALGARY, Alberta, Dec. 02, 2020 (GLOBE NEWSWIRE) — Baytex Energy Corp. (“Baytex”) (TSX, NYSE: BTE.BC) announces that its Board of Directors has approved a 2021 capital budget of $225 to $275 million, which is designed to generate free cash flow and average annual production of 73,000 to 77,000 … Read more
December 02, 2020 | Source: Athabasca Oil Corporation CALGARY, Alberta, Dec. 02, 2020 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or “the Company”) announces its 2021 budget that is focused on maintaining base production and maximizing funds flow. The Company also is pleased to announce that it has renewed its syndicated bank facility and … Read more
The company donates more than C$5 million to COVID-19 relief efforts in 2020 December 01, 2020 | Source: TC Energy Corporation CALGARY, Alberta, Dec. 01, 2020 (GLOBE NEWSWIRE) — Media Advisory – TC Energy Corporation (TSX, NYSE: TRP) (TC Energy) announced that, throughout 2020, it has proudly donated more than C$5.2 million to non-profit organizations impacted by the … Read more
By Grant Smith, Javier Blas and Salma El Wardany Dec 2, 2020 (Bloomberg) After failed talks exposed a dangerous fissure at the alliance’s core, OPEC and its partners are quietly working to repair the damage.Key players in the 23-nation alliance are making diplomatic efforts to resolve a dispute — centered around Saudi Arabia and the United … Read more
By Ann Koh and Alex Longley Dec 2, 2020 (Bloomberg) Oil held steady in New York, with OPEC and its partners engaging in a diplomatic push to agree on output levels before a key meeting on Thursday.Futures were little changed after fluctuating between gains and losses. The Organization of Petroleum Exporting Countries is working to gain … Read more
By Robert Tuttle Dec 1, 2020 (Bloomberg) An Enbridge Inc. pipeline that will help ship more Canadian crude to the U.S. Midwest received final approval, paving the way for construction to start soon on a third key export project for the oil sands after years of delays. Minnesota approved the stormwater pollution plan for Enbridge’s Line … Read more
By Susan James Stress Engineering Services (SES) helps pipeline operators across North America assess their line’s integrity and resiliency through Finite Element Analysis (FEA). This evaluation includes determining safe operating limits and/or mitigation strategies for cases where the established acceptance criteria is exceeded at identified points of concern along the pipeline. This work has become … 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. Earlier this year, we wrote about how after several quiet months of … Read more
By Michika Suzuki Inspecting inside large storage tanks of non-explosive liquid is important to find defects like corrosion, erosion, and deteriorated welded areas that can compromise their structural integrity. While inspectors rely on flexible videoscopes to enter the tank and check for these issues, these instruments sometimes lack enough illumination to do the job. Fortunately, inspectors … Read more
RAM is a Hydraulic Cylinder Manufacturer with the experience and expertise to serve the needs of the Oil and Gas Industry. RAM has been producing Hydraulic and Pneumatic Cylinders for almost 50 years, developing a strong name around quality and reliable products and services. RAM is well versed in cylinder applications within the Oil and … Read more
By Geoffrey Cann With group gatherings out of the question, but with urgent business needs still calling out for attention, how do you deliver high quality training virtually? Here’s my formula. The Origins of Digital Oil and Gas Three months after my book was launched in 2019, I was invited to turn the book into … Read more
CALGARY — Suncor Energy Inc. is forecasting higher spending and production in 2021 based on benchmark U.S. oil prices staying near their current levels of around US$45 per barrel.
It says it predicts daily oil and gas production between 740,000 and 78…
DUBAI/LONDON/MOSCOW (Reuters) – OPEC and allies led by Russia postponed talks on oil output policy for 2021 to Thursday, three sources said on Monday as key players still disagreed on how much oil they should pump amid weak demand due to the coronavirus pandemic. OPEC+, which includes the Organization of the Petroleum Exporting Countries, Russia … Read more
DUBAI/LONDON/MOSCOW (Reuters) – OPEC and allies led by Russia postponed talks on oil output policy for 2021 to Thursday, three sources said on Monday as key players still disagreed on how much oil they should pump amid weak demand due to the coronavirus pandemic. OPEC+, which includes the Organization of the Petroleum Exporting Countries, Russia … Read more
It’s official: the Trudeau government has taken the federal deficit from $19 billion to $381 billion in just nine months. That’s the staggering takeaway from Finance Minister Chrystia Freeland’s fall economic statement, and it means Canada’s total federal debt will for the first time shoot past $1 trillion in a few weeks. Critics will argue that … Read more
Dec 1, 2020 (Bloomberg) Bank of Montreal is winding down its U.S. oil and gas investment banking business and will focus on assets in Canada going forward, becoming the latest financial institution to cut ties with America’s beleaguered shale industry.BMO said it has made “the financial decision for an orderly wind-down of our non-Canadian investment and … Read more
By Kevin Crowley Dec 1, 2020 (Bloomberg) Exxon Mobil Corp. is about to incur the biggest writedown in its modern history as the giant U.S. oil and gas producer reels from this year’s collapse in energy prices. Exxon — traditionally far more reluctant to cut the book value of its business than other oil majors — … Read more
By Ann Koh and Alex Longley Dec 1, 2020 (Bloomberg) Oil traded near $45 a barrel in New York with OPEC seeking more time to reach a deal on production policy after a meeting broke down without an agreement. Futures flipped between gains and losses having earlier been buoyed by a weaker dollar. The recovery … Read more
Latest COSIA annual report outlines examples of successful technology collaboration By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Photograph courtesy COSIA Canada’s oil sands sector is delivering results improving its environmental performance, thanks to a unique approach where competitors work together to solve technological challenges.Canada’s Oil … Read more
NOVEMBER 30, 2020 (Reuters) – Canada’s Imperial Oil Ltd will take an impairment charge of about C$900 million to C$1.2 billion ($923 million) in the fourth quarter as it no longer plans to develop a significant portion of its unconventional assets in Alberta, the company said on Monday. The move by Imperial comes after France’s … Read more
November 30, 2020| Source: Suncor Energy Inc. multilang-release Unless otherwise noted, all financial figures are in Canadian dollars. CALGARY, Alberta, Nov. 30, 2020 (GLOBE NEWSWIRE) — Suncor released its 2021 corporate guidance today which reflects its capital allocation framework and includes: average upstream production of 740,000 to 780,000 barrels of oil equivalent per day (boe/d); expected debt … Read more
CALGARY — An environmental law group has lost its bid to pause Alberta’s inquiry into where critics of its oil and gas industry get their funding.
Ecojustice sought an injunction in the summer to suspend the inquiry until there is a ruling on whether…
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ENERGYNOW FEATURE: Why Energy Policy Is Becoming a Women’s Issue Across Canada