Fort Saskatchewan project expected to create up to 8,000 jobs during peak construction and 400 to 500 full-time positions (Reuters) – Dow (DOW.N) said on Tuesday its board approved an investment in the $6.5 billion Fort Saskatchewan Path2Zero project in Alberta, Canada, as the chemical maker aims to become carbon neutral by 2050. The project includes … Read more
CALGARY, Alberta, Nov. 28, 2023 (GLOBE NEWSWIRE) — Canadian Spirit Resources Inc. (“CSRI” or the “Corporation”) (TSXV:SPI) (OTCBB:CSPUF) announces the reactivation of natural gas production at Farrell Creek, Northeast British Columbia and the release of its unaudited interim financial statements (the “Financial Statements”) and management discussion and analysis (“MD&A”), each for the three month period ended September 30, … Read more
CALGARY, AB, Nov. 30, 2023 /CNW/ – Advantage Energy Ltd. (“Advantage”, the “Corporation”, “us”, “we” or “our”) is pleased to announce our 2024 budget and provide an update as we enter the second year of our three-year strategic plan. Advantage’s 2024 capital program continues our focus on growing adjusted funds flow (“AFF”)a per share via high rate-of-return development drilling. Top-line … Read more
CALGARY, Alberta, Nov. 30, 2023 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to announce the most recent version of the Company’s monthly activity update can be found on the Company’s website at https://www.petrusresources.com/monthlyupdates. ABOUT PETRUS Petrus is a public Canadian oil and gas company focused on property exploitation, strategic acquisitions … Read more
CALGARY, AB, Nov. 30, 2023 /CNW/ – Today, the Commission of the Canada Energy Regulator (CER) approved preliminary interim tolls for the expanded Trans Mountain pipeline system. This decision allows the company to charge for pipeline services once expanded operations begin. The benchmark toll, set at $11.46 per barrel, applies on an interim basis, to shippers with a 15-year contract transporting under 75,000 barrels … Read more
By Alex Lawler, Olesya Astakhova and Maha El Dahan Summary OPEC+ announces no new group cut target for 2024 Instead members led by Saudi Arabia to make voluntary cuts Saudi to roll over 1 million bpd cut into Q1 Russia to cut 500,000 bpd OPEC+ invites Brazil to join LONDON/MOSCOW/DUBAI, Nov 30 (Reuters) – OPEC+ oil producers on Thursday … Read more
Today, the Canadian Gas Association and the Canadian Energy Partnership for Environmental Innovation (CEPEI) are pleased to announce the Canadian Methane Management Coalition (CMMC or the “Coalition”). Under the direction of industry champions Mike Rose, President and CEO of Tourmaline Oil Corp., and Michele Harradence, Executive Vice President & President, Gas Distribution and Storage, Enbridge Gas … Read more
CALGARY, AB / ACCESSWIRE / November 29, 2023 / Avila Energy Corporation (“Avila” or “Company” or “Avila Energy“), trading symbol trading symbol, (CSE:VIK),(OTC PINK:PTRVF) and (FRA:6HG0), is pleased to announce the filing of its Financial Report for the Three and Nine months ended September 30, 2023. Highlights Avila confirms its commitment as previously announced on November 14, 2023.; … Read more
CALGARY, AB, Nov. 29, 2023 /CNW/ – Highwood Asset Management Ltd., (“Highwood” or the “Company“) (TSXV: HAM) is pleased to announce financial and operating results for the three and nine months ended September 30, 2023. The Company also announces that its unaudited financial statements and associated Management’s Discussion and Analysis (“MD&A“) for the period ended September 30, 2023, can be … Read more
Provincial fuel tax suspension saves families about $70 per month CALGARY, AB: The Canadian Taxpayers Federation is urging the Alberta government to keep the provincial fuel tax fully suspended. “Suspending the provincial fuel tax makes Alberta more affordable and Premier Danielle Smith should keep it that way,” said Kris Sims, CTF Alberta Director. “Does Smith want … Read more
By Bruno Venditti Graphics/Design: Sabrina Fortin, Jennifer West Courtesy of Visual Capitalist – See More From Visual Capitalist HERE Visualizing the Top Energy Priorities of Major Countries As policy makers, business leaders, and academics gather at COP28 in Dubai this week, topics like climate change and the energy transition will be front and center. Discussions and … Read more
(Bloomberg) Nearly 200 nations are set to agree on details for running a fund designed to help vulnerable countries deal with more extreme weather stoked by global warming, marking a major breakthrough as international climate negotiations open in Dubai. Delegates at the COP28 summit are preparing to adopt a framework for the World Bank to at least temporarily operate … Read more
(Reuters) – Oil prices rose on Thursday as investors awaited the outcome of an OPEC+ meeting with potential further supply cuts on the agenda. Brent crude futures for January gained 65 cents, or 0.78%, to $83.75 a barrel by 1210 GMT. The front-month Brent contract expires later on Thursday. The more liquid February contract was … Read more
Summary Producers meeting to discuss 2024 output Preliminary cut agreed for over 1 mln bpd -two OPEC+ sources Saudi output, Russian export cuts set to expire Meeting postponed from Nov. 26 after disagreements LONDON/MOSCOW/DUBAI, Nov 30 (Reuters) – OPEC+ oil producers are likely to agree output cuts of at least 1 million barrels per day … Read more
(Bloomberg) With tens of thousands of delegates planning to attend this year’s UN climate summit in Dubai, there’s expected to be a flood of new pledges, projects and initiatives announced. It’ll be easy to lose focus on the most important task at hand: Nearly 200 countries have 13 days to reach a new, unanimous agreement on how … Read more
(Bloomberg) Europe needs more liquefied natural gas to provide relief to its market as the region recovers from last year’s energy crisis, according to Uniper SE Chief Executive Officer Michael Lewis. “Until significantly more LNG volumes come onto the market, there is going to be a tight situation,” Lewis said in an interview with Bloomberg … Read more
By Gavin Maguire LITTLETON, Colorado, Nov 30 (Reuters) – Over 60% of global electricity generated so far in 2023 was produced by fossil fuels, despite the ongoing aggressive roll-out of renewable energy sources in every major economy. Several key countries have sourced well over half of their electricity from fossil fuels this year, including the … Read more
Alberta’s Capital Power is not planning to build new natural gas-fired power plants in Canada as Prime Minister Justin Trudeau’s proposed electricity regulations to fight climate change make new investments in such facilities unviable, CEO Avik Dey said. The concerns raised by Capital, Alberta’s second-biggest power generator, mirror those of Alberta Premier Danielle Smith, who … Read more
With EnergyNow Digital Marketing Packages Access EnergyNow’s Audience of over 240,000 North American Energy Professionals As Your Digital Marketing Partner, EnergyNow will: CONSISTENTLY market your company on all EnergyNow platforms (websites, emails & social media SHOWCASE your products and services to a large energy industry audience of over 240,000 energy professionals BUILD your brand and … Read more
WINNIPEG — Manitoba’s Opposition Progressive Conservatives are calling for the permanent elimination of the provincial fuel tax.
The NDP government has introduced a bill to suspend the 14-cent-a-litre tax for at least six months, to help people with t…
CALGARY — Executives and senior leaders from Canada’s oil and gas sector are heading to Dubai for the upcoming United Nations COP28 climate talks.
The Pathways Alliance consortium of oilsands companies and the Canadian Association of Petroleum Produce…
CALGARY, AB, Nov. 28, 2023 /CNW/ – Spartan Delta Corp. (“Spartan” or the “Company“) (TSX: SDE) is pleased to announce the completion of a series of asset acquisitions (collectively, the “Acquisitions“) in the West Shale Basin Duvernay (the “Duvernay“) for aggregate cash consideration of approximately $25 million and preliminary 2024 guidance. MESSAGE TO SHAREHOLDERS Spartan’s Deep Basin asset has been the … Read more
Agreement broadens the Company’s market diversification with access to Europe and TTF-linked pricing CALGARY, AB, Nov. 29, 2023 /CNW/ – (TSX: ARX) ARC Resources Ltd., through its subsidiary ARC Resources U.S. Corp. (collectively, “ARC” or the “Company”), today announced it has entered into a long-term natural gas supply agreement (“the Agreement”) with Sabine Pass Liquefaction Stage … Read more
Oil-producing province Alberta on Tuesday said it would provide a 12% grant on eligible capital costs associated with building new carbon capture utilization and storage (CCUS) projects to help the oil and gas sector hit decarbonization targets. The incentive from Alberta comes on top of a federal government CCUS tax credit announced last year. Canada, … Read more
By Yogi Schulz Here’s the link to my IT blog at IT World Canada Environmentalists have panicked many citizens into believing fracking is dangerous by greatly exaggerating the small risks that are associated with fracking oil and natural gas wells. In reality, these risks are very low, just like those associated with other industrial activities, … Read more
(Reuters) – OPEC+ is continuing to hold talks on 2024 oil policy, with no delay to a meeting scheduled for Thursday currently expected, two sources from the producer group said on Wednesday. On Tuesday, sources had said a further delay to the meeting was possible amid talks which one of them described as difficult as countries maintained … Read more
(Reuters) – Oil prices rose on Wednesday as investors turned their attention to an OPEC+ meeting to decide on output policy, while supply disruption caused by a storm in the Black Sea and lower U.S. inventories drove buying. Brent crude futures climbed 86 cents, or 1.1%, to $82.54 a barrel at 1031 GMT. U.S. West … Read more
Summary U.N.’s COP28 summit begins Thursday in Dubai Countries will debate phase-out of fossil fuels Oil-rich UAE under pressure to broker climate deal Rift over oil and gas firms’ role in climate fight WASHINGTON/BRUSSELS/DUBAI, Nov 29 (Reuters) – Delegates from nearly 200 countries will convene this week for the COP28 climate summit in Dubai, where conference host … Read more
(Reuters) – Enbridge (ENB.TO), on Wednesday forecast higher core earnings and raised its dividend for 2024 as the Canadian pipeline operator bets on higher demand to lift volumes transported across its network. Profits at Canadian oil and gas transportation have been buoyed by low U.S. inventory levels and increased exports as buyers sought alternatives to … Read more
As liquefied natural gas (LNG) projects in British Columbia move forward through the construction and/or regulatory process, it is increasingly important we address a few myths surrounding these critical energy projects. Here are three big myths on Canadian LNG projects you should know about, debunked! MYTH #1 – Liquefied Natural Gas is “Not a Bridge … Read more
(Bloomberg) A US retreat has resulted in an overall decline in the global market for ESG investing. That’s according to the latest assessment by the Global Sustainable Investment Alliance (GSIA), which provides updates on the size of the market every two years. The 2022 review, published on Wednesday, shows that investors had $30.3 trillion in sustainable assets, down … Read more
Canadian oil sands producers will start making final investment decisions on their proposed C$16.5 billion ($12.03 billion) carbon capture and storage (CCS) project from mid-2025 onwards, the president of the Pathways Alliance said on Monday. Pathways, a consortium of the six biggest oil sands companies, plans to build a CCS hub to store emissions from … Read more
(Bloomberg) The head of global climate change talks starting in Dubai this week has strongly denied using his position to advance the United Arab Emirates’ commercial interests. COP28 President Sultan Al Jaber said reports that he is seeking to advance oil and gas deals during climate meetings with foreign governments ahead of COP28 were “false, not true, incorrect and … Read more
Richard Branson has long relished the image of the aviation pioneer, from traversing the Pacific in a hot-air balloon to making space travel available for paying customers. Now the British billionaire is participating in the first flight of a commercial aircraft across the Atlantic powered entirely by sustainable aviation fuel, beating arch-rival British Airways to … Read more
How downhole gauges are used as a part of the measurement, monitoring, and verification plan (MMV) for carbon capture & underground storage. Carbon Capture & Underground Storage Carbon Capture & Underground Storage (CCUS) is the process of storing high pressure, liquid carbon dioxide in a subsurface reservoir structure. The technology has been used for more … Read more
It’s time to dry sand faster, more affordably, and sustainably…300+ days a year! If you’re in the Canadian sand mining and processing industry, you’re well acquainted with seasonal shutdowns during the cold months. In our severe Canadian climate, these shutdowns can last nearly half a year due to the added difficulty and expense of decanting … Read more
By Dave Korzinski, Research Director One thing is certain about the carbon tax discourse in this country, the “pro” side is losing the battle. Recent data from the Angus Reid Institute finds overall support for the carbon tax down 11 points since 2021. This, as CPC leader Pierre Poilievre gains momentum with an “axe the … Read more
Canada Powered by Women poll shows respondents feel innovation can allow industry to grow while lowering emissions By Cody Ciona Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Photo courtesy of Canada Powered by Women New research commissioned by Canada Powered by Women shows women who are engaged on … Read more
VANCOUVER — The Coastal GasLink pipeline that stretches across northern B.C. is mechanically complete ahead of the company’s year-end deadline.
A statement from TC Energy Corp. says history has been made by finishing Canada’s first pipeline to the We…
OTTAWA — The dispute between Ottawa and Alberta over environmental oversight spilled into a House of Commons committee meeting Tuesday when a Liberal member tried to pass a motion reprimanding the province’s energy regulator.
Adam van Koeverden’s moti…
Summary Virgin Atlantic jet set to land in New York City on Tuesday afternoon Sustainable aviation fuel (SAF) accounts for less than 0.1% of total global jet fuel use First time a commercial airliner has flown long-haul with SAF LONDON, Nov 28 (Reuters) – A Virgin Atlantic passenger jet powered by 100% sustainable aviation fuel … Read more
The International Energy Agency is the gold standard on energy statistics. But can the IEA interpret its own data? Fatih Birol, Executive director of the International Energy Agency. Photo from The Council on Foreign Relations. The International Energy Agency (IEA) has long collected and interpreted energy-related statistics. In recent years, the IEA has also taken … Read more
From mid-2021 until late 2022, Europe and parts of Asia were gripped by an energy crisis, as oil, gas, coal and power prices surged, in some cases to record highs, forcing households and firms to cut use rapidly. Russia’s invasion of Ukraine and sanctions imposed in response by the U.S. and its allies disrupted energy … Read more
November 28, 20236:00 AM CNW CALGARY, AB, Nov. 28, 2023 /CNW/ – Source Rock Royalties Ltd. (“Source Rock”) (TSXV: SRR) (TSXV: SRR.WT), a pure-play oil and gas royalty company with an established portfolio of light oil focused royalties, announces results for the three and nine months ended September 30, 2023. Third Quarter Highlights: Record quarterly royalty production of 228 boe/d (94% … Read more
CALGARY — TC Energy Corp. is raising its financial guidance for the year.
The company says it now expects its comparable earnings before interest, taxes, depreciation and amortization for 2023 to be up about eight per cent from 2022.
The forecast is u…
(Bloomberg) Saudi Arabia is asking others in the OPEC+ coalition to reduce their oil-output quotas in a bid to shore up global markets but some members are resisting, delegates said. The OPEC+ leader has been making a largely unilateral supply cutback of 1 million barrels a day since July, and is now seeking further support … Read more
Summary OPEC+ meets on Thursday to set policy US crude inventories expected to have fallen last week -poll Output from largest Kazakh oilfields down 56% Coming up: API supply report at 2130 GMT LONDON, Nov 28 (Reuters) – Oil prices rose on Tuesday as the possibility that OPEC+ will extend or deepen supply cuts was … Read more
(Bloomberg) OPEC issued a strongly worded defense of the oil-and-gas industry days before the start of the biggest ever climate talks, pushing back against the International Energy Agency and highlighting the increasingly fractious debate over how best to tackle global warming. The Organization of Petroleum Exporting Countries said that the IEA has “unjustly vilified” the … Read more
More than 70,000 politicians, diplomats, campaigners, financiers and business leaders will fly to Dubai to talk about arresting the world’s slide toward environmental catastrophe. The need for progress has never been more urgent: 2023 will almost certainly be the hottest year on record, greenhouse gas emissions are still rising and promises to cut pollution remain insufficient to take the … 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, Nov. 27, 2023 /CNW/ – MEG Energy Corp. (TSX:MEG, “MEG” or the “Corporation”) today announced its 2024 capital investment plan and operational guidance. Highlights include: Continued emphasis on operations excellence and safety leadership … Read more
Alberta’s conservative Premier Danielle Smith put the Canadian province’s Sovereignty Act into motion on Monday to challenge the federal government’s requirement for a net-zero electricity grid by 2035. Smith’s United Conservative Party government introduced a resolution in the provincial legislature, marking the first use of one of her signature laws enacted last year. The Sovereignty … Read more
2023 comparable EBITDA(1) now expected to be ~8 per cent higher than 2022 2024 comparable EBITDA outlook expected to be ~5 to 7 per cent higher than 2023 On track for 4.75x debt-to-EBITDA(2) upper limit by end of 2024 South Bow spinoff expected to maximize the value of the Liquids Pipelines business CALGARY, Alberta, Nov. 28, … Read more
As pretty much everyone knows by now, the governments of Canada, the United States and many other countries are mandating a shift in vehicle technology—away from vehicles powered primarily by internal combustion engines, and toward vehicles powered primarily with electricity stored on-board in batteries. The timelines for the electric vehicle (EV) transition are beyond ambitious. … Read more
Taxpayers should brace for impact based on the finance minister’s latest projections. Interest charges on the federal debt will go from $47 billion this year to $61 billion in 2028-29, according to the budget update. But what does $61 billion mean to you? Sixty-one billion is the same amount the government plans to collect with the GST … Read more
CALGARY — The oilsands industry group that has proposed building what would be one of the world’s largest carbon capture and storage projects says it is more confident than ever it will go ahead with construction.
The Pathways Alliance is a consortium…
REGINA, SK: New research from think tank SecondStreet.org shows that no level of government has properly researched what Canadians will have to pay — through their power bills — as a result of Ottawa’s push for widespread electric vehicle (EV) usage. The push for EVs is part of the federal government’s plan to ban new gas-powered … Read more
The premier of Canada’s oil and gas producing province Alberta said on Monday her government will consider creating a publicly-owned electricity company, in a bid to evade federal requirements to develop a net-zero power grid by 2035. The move is Alberta’s latest attempt to undermine the climate action plans of Liberal Prime Minister Justin Trudeau, … Read more
CALGARY, AB, Nov. 27, 2023 /CNW/ – Pathways Alliance is making strides on multiple simultaneous projects that are contributing to its goal of a 22 million tonne annual reduction of CO2 emissions (scopes 1 and 2) from oil sands operations by 2030, on the journey to net zero emissions from operations by 2050. The largest near-term focus is … Read more
Saudi Arabia, Russia and other members of OPEC are scheduled to meet online on Thursday and could make further changes to an agreement that already limits supply into 2024, according to analysts and OPEC+ sources, to support the market. The Organization of the Petroleum Exporting Countries and allies led by Russia, known as OPEC+, delayed … Read more
Calgary, Alberta–(Newsfile Corp. – November 27, 2023) – Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) (“Baytex”) today announced that it has entered into a definitive agreement to sell certain of its Viking assets located at Forgan and Plato in southwest Saskatchewan, effective October 1, 2023, for $153.8 million. The disposition is expected to close prior … Read more
(Reuters) – Delegates at this year’s U.N. COP28 climate summit are anxious to boost the world’s climate change agenda with concrete plans for clamping down on the second-most prominent greenhouse gas – methane. While more than 150 countries have promised since 2021 to slash their methane emissions 30% from 2020 levels by 2030 under the U.S.- … Read more
Summary Market awaits OPEC+ meeting postponed to Nov 30 African nations had disagreed on supply cuts Analysts expect rollover of Saudi and Russia cuts at least LONDON, Nov 27 (Reuters) – Oil prices fell on Monday, with the Brent benchmark dropping below $80 a barrel as investors awaited this week’s OPEC+ meeting and expected curbs … Read more
(Bloomberg) COP28 president Sultan Al Jaber was willing to raise oil and gas commercial interests during climate meetings with foreign governments ahead of the UN summit starting in Dubai later this week, according to a cache of internal records leaked by a whistleblower and published by the British Broadcasting Corp. in collaboration with the Centre for Climate Reporting. Al … Read more
EDMONTON — Alberta’s Opposition New Democrats are condemning another sole-source contract handed out to a close associate of the United Conservative Party government.
The party has asked the province’s auditor to investigate several such contracts awa…
CALGARY, Alberta, Nov. 27, 2023 (GLOBE NEWSWIRE) — Cielo Waste Solutions Corp. (TSXV: CMC; OTCQB: CWSFF) (“Cielo” or the “Company”), a waste-to-fuel environmental technology company, announces today updates regarding its agreements with Renewable U Energy Inc. (“Renewable U”), including with respect to the purchase of land in Dunmore, Alberta (the “Dunmore Land”) by Cielo for the purposes … Read more
World leaders are due to gather for annual climate change talks in Dubai in December. On the agenda: the phase down — or even phase out — of fossil fuels, a global goal to help the world adapt to extreme weather events, trading carbon emissions and a new fund to pay for the loss and … Read more
Do you have these problems with your Well Heads? Expensive and sometimes difficult to insulate with typical cladding and bat insulation. Mice and other animals nest and or damage other forms of removable insulation options. Freeze up in winter months leads to costly bills for Methanal or other de-icing chemicals – which comes around each … Read more
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Introduction: When investing in industrial equipment, such as process control and instrumentation products or custom fabrication services, the initial cost is often the primary focus. However, savvy buyers know that the true value of such an investment lies not just in the purchase price but also in the post-purchase service and support. The reliability, expertise, … Read more
Credit. The world runs on it and chances are, so does your business. But what does it mean to have a good credit score and how does your business get one? A credit score, simply put, is a prediction of your credit behaviour. But what goes into figuring out that score? Your credit score is … Read more
Unlock the Power of GIS in your Pipeline Management Jeff Allen, Global Pipeline Practice Lead at Esri, will discuss cutting-edge location intelligence strategies that are transforming traditional pipeline operations and decision-making. Learn how integrating spatial insights can significantly enhance the safety, efficiency, and growth of your pipeline enterprise. Your learning outcomes will include: GIS Integration … Read more
Sharing emissions reductions through Article 6 is possible when LNG replaces coal in power generation By Cody Ciona and Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter With Asian countries continuing to rely on coal to fuel their growth, Canada can provide a cleaner alternative while having its … Read more
At Muddy Boots, we believe that having one piece of software that handles many facets of the operation is very cost-effective. With an integrated platform for operations software, you have: One system instead of many, saving you money All your data in one place, increasing data accuracy and saving you time All staff using the … Read more
The Canada Energy Regulator (CER) has ordered the company building the Trans Mountain oil pipeline expansion (TMX) to appear at an oral hearing on Monday, as the regulator weighs whether to approve a variance request from the project. Trans Mountain Corp, which is owned by the Canadian government, last month applied for a variance on … Read more
Calgary, Alberta–(Newsfile Corp. – November 27, 2023) – Suncor Energy (TSX: SU) (NYSE: SU) today announced that the Terra Nova Floating, Production, Storage and Offloading vessel has safely restarted following the completion of the Terra Nova Asset Life Extension project. Production is expected to ramp up over the coming months. “Focusing on safety and operational integrity, … Read more
The Canadian Association of Energy Contractors (CAOEC) announces the release of the 2023/24 Drilling and Service Rig Forecast and the 2023 State of the Industry Report. Projected 2024 wells drilled: 6,229 – an increase of 481 from 2023 (5,748) Projected 2024 drilling operating days: 65,399 – an increase of 5,046 from 2023 (60,353) Projected 2024 service operating hours: 1,075,220 – an increase of 77,696 from … Read more
The Canadian Press “But Steven Guilbeault, I don’t know, he’s a maverick. He doesn’t seem to care about the law, he doesn’t care about the constitution. I do, and we’re going to make sure we assert that.” – Alberta Premier Danielle Smith. Smith told reporters an “aggressive” cap on oil and gas emissions including methane, … Read more
CALGARY — A spill of surface runoff from a containment pond at Suncor Energy’s Fort Hills oilsands site may have spanned more than a year, the Alberta Energy Regulator has announced.
The regulator said that on Oct. 9, the energy company reported an “…
Summary Hamas hostage release, truce reduces geopolitical risk premium Oil notches weekly gain for first time in five weeks Trading subdued after Thursday’s U.S. Thanksgiving holiday Nov 24 (Reuters) – Oil fell on Friday as the release of some hostages in Gaza reduced the geopolitical risk premium, but prices notched their first week of gains … Read more
OTTAWA — Federal security officials have been briefing leaders of major energy and utility firms on cyberthreats, one element of a concerted government effort to underscore the serious risks to the sector.
A newly disclosed Public Safety Canada memo r…
By Jock Finlayson Fraser Institute Among federal government policymakers and much of the environmental advocacy community, there’s a common belief that the Canadian economy is undergoing a fundamental and rapid transition, driven by efforts to tackle climate change and lessen the environmental impact of human activity more broadly. According to this view, Canada’s almost $3 … Read more
CALGARY, AB, Nov. 23, 2023 /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, 2023. DISTRIBUTION TO SHAREHOLDERS As previously announced, the Board of Directors of the Company has approved a special distribution of $0.1279 per Common Share to holders of the Common Shares of Clearview. The … Read more
Canadian oil and gas producers will drill 8% more wells in 2024 to take advantage of greater access to pipelines, with the Trans Mountain oil pipeline expansion due to open, an industry group said in an annual forecast on Friday. Conventional oil production accounts for a small portion – 14% on average this year – … Read more
(Reuters) – Canceled offshore wind projects, imperiled solar factories, fading demand for electric vehicles. A year after passage of the largest climate change legislation in U.S. history, meant to touch off a boom in American clean energy development, economic realities are fraying President Joe Biden’s agenda. Soaring financing and materials costs, unreliable supply chains, delayed … Read more
WHY ARE QUOTA DISCUSSIONS SO FRAUGHT? OPEC+ negotiations over production quotas have often been difficult in the past. Oil production tends to vary month by month, making it difficult to fix on a permanent production target. So the higher a production reference level a country can negotiate, the less it actually has to cut to … Read more
By Clyde Russell Nov 23 – Carbon capture and underground storage (CCUS) is touted by proponents of fossil fuel production and consumption as the technology that will keep oil and gas in the global energy mix. It is, and at the same time it isn’t. The International Energy Agency (IEA) delivered a dose of reality … Read more
New survey shows engaged Canadian women prioritize standard of living along with continued development of Canadian energy CALGARY (November 22, 2023) – The rising cost of living may be shifting national opinions about Canadian oil and gas among informed and engaged Canadian women, according to a new survey released by Canada Powered by Women (CPW). … Read more
We are thrilled to announce a significant enhancement to our technical expertise at Stress Engineering Services Canada (SESC). In line with our steadfast commitment to technical excellence and delivering exceptional service to our valued clients, we are delighted to welcome Justin Bekker as our newest Metallurgical Engineer. Justin’s primary focus will be on failure analysis, … Read more
By Kenneth P. Green It has been a rough autumn for the Trudeau government. First, the Supreme Court of Canada struck down significant parts of the federal Impact Assessment Act (also known as Bill C-69), ruling the act to be broadly unconstitutional and finding that the government had made the review process ambiguous and overly broad while intruding on … Read more
TORONTO — A vote by shareholders of Australian’s Origin Energy Ltd. on a takeover offer by a Brookfield-led consortium of investors and EIG has been delayed after the utility’s largest shareholder voiced opposition to the proposal.
Pension fund manage…
Alberta’s energy regulator ruled Thursday that it won’t reconsider approvals for Suncor to expand an oilsands mine into a wetland once considered for environmental protection.
The decision opens the door for expansion of the company’s Fort Hills mine …
U.S. energy firms this week added oil and natural gas rigs for a second week in a row, energy services firm Baker Hughes said in its closely followed report on Wednesday. For the month, the total rig count, an early indicator of future output, fell by three, putting it down for the sixth time in … Read more
388 new mines must be built by 2030 to satisfy electric vehicle mandates The governments of Canada, the United States, and many other nations are mandating a shift in vehicle technology: away from vehicles powered primarily by internal combustion engines, and toward vehicles powered primarily with electricity stored on board in batteries. Canada’s government has … Read more
(Reuters) – World governments agreed at the COP26 climate summit in Glasgow two years ago to phase out “inefficient” fossil fuel subsidies to help fight global warming. Since then, however, global fossil fuel subsidies have risen $2 trillion to $7 trillion, according to the International Monetary Fund, as governments around the world moved to protect … Read more
CALGARY, Alberta, Nov. 23, 2023 (GLOBE NEWSWIRE) — Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) announces its third quarter financial and operating results. Selected financial and operational information is outlined below and should be read in conjunction with Razor’s unaudited interim condensed consolidated financial statements, management’s discussion and analysis for the three and nine months … Read more
Calgary, Alberta–(Newsfile Corp. – November 23, 2023) – Gear Energy Ltd. (“Gear” or the “Company”) (TSX: GXE) (OTCQX: GENGF) is pleased to announce that the new October 2023 monthly update to shareholders can be accessed via the following link https://gearenergy.com/updates. FOR FURTHER INFORMATION PLEASE CONTACT: Ingram Gillmore President & CEO 403-538-8463 David Hwang Vice President Finance & … Read more
CALGARY — One of Alberta’s largest power generators says more than two-thirds of its profits will come from renewable electricity production by 2028 — a major transformation for a company that once was one of the largest emitters of greenhouse gases i…
Oscar Judelson-Kelly: New federal policies are a good start, but more needs to be done to ensure Canadian carbon capture can compete with the US. A carbon capture pipe at the Quest CCS project in Fort Saskatchewan. Photo by Shell Canada. By Resource Works More News and Views From Resource Works Here Canadians are worried … Read more
WINNIPEG — The Manitoba government introduced a bill Thursday to suspend the province’s fuel tax for six months, and possibly longer.
If the bill is passed into law, it would lift the 14-cent-a-litre tax on gas, diesel and natural gas used in vehicles…
CALGARY — Carbon capture and storage has become a key plank of the Canadian oil and gas sector’s decarbonization goals, but a new report from the International Energy Agency warns against banking on the technology as the planet continues to warm.
In a…
Calgary, Alberta–(Newsfile Corp. – November 22, 2023) – Lycos Energy Inc. (TSXV: LCX) (“Lycos” or the “Company“) is pleased to announce its operating and financial results for the three and nine months ended September 30, 2023. Selected financial and operating information is outlined below and should be read with Lycos’ unaudited condensed interim consolidated financial statements … Read more
CALGARY, AB, Nov. 22, 2023 /CNW/ – Perpetual Energy Inc. (“Perpetual”, or the “Company”) (TSX: PMT) is pleased to announce that it has closed its previously announced asset disposition of certain assets at Mannville in Eastern Alberta to Canadian private operator Pointbreak Resources for gross proceeds of $35.8 million in cash, prior to customary purchase price adjustments (the “Mannville Transaction”) with a September 1, 2023 effective … Read more
CALGARY, AB, Nov. 22, 2023 /CNW/ – Logan Energy Corp. (“Logan” or the “Company“) is pleased to report its unaudited financial and operating results for the third quarter of 2023, and to provide an operations update, increased guidance for the second half of 2023 and preliminary guidance for 2024. Selected financial and operational information is set out below and should … Read more
CALGARY, AB, Nov. 22, 2023 /CNW/ – Highwood Asset Management Ltd., (“Highwood” or the “Company“) (TSXV: HAM) is pleased to announce an operational update, including its inaugural multi-lateral open hole (“MLOH“) well result, and to reiterate its 2024 guidance. Highwood anticipates allocating its organic free cash flow after sustaining capital on a 50:50 basis to support organic production … Read more
Canada’s Imperial Oil is repairing a culvert at its Kearl oil sands mine in northern Alberta after accidentally releasing 670 cubic metres of sediment-laden water into the Muskeg River from a settling pond, the company said on Wednesday. The incident occurred on Nov. 13, and comes after Imperial was lambasted earlier this year for two other … Read more
OTTAWA — The “next steps” for a long-awaited Indigenous loan guarantee program will be announced in next year’s federal budget, the Liberal government promised in its fall economic statement on Tuesday.
But industry groups and Indigenous leaders are s…
Summary Prices continue to fall after previous session’s plunge Meeting delay stokes expectations OPEC+ might not deepen cuts Delay likely to be linked to dissenting African members -sources Nov 23 (Reuters) – Oil prices dipped about 1% on Thursday, extending losses after postponement of an OPEC+ meeting stoked expectations that the group might not deepen … Read more
First Nations LNG Alliance CEO Karen Ogen takes message of coastal nations to Beijing By Will Gibson Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Participating in a recent trade mission to China has strengthened Karen Ogen’s view of the opportunity for B.C. liquefied natural gas (LNG). For the CEO … Read more
Summary Prices continue to fall after previous session’s plunge Meeting delay stokes expectations OPEC+ might not deepen cuts Delay likely to be linked to dissenting African members -sources Nov 23 (Reuters) – Oil prices dipped about 1% on Thursday, extending losses after postponement of an OPEC+ meeting stoked expectations that the group might not deepen … Read more
Summary OPEC+ had been scheduled to meet on Sunday Delay comes as countries struggle to agree output levels Dispute linked to African countries Oil loses nearly 1%, rebounds from 4% drop earlier Delay shows there are some different views in group – analyst DUBAI/LONDON, Nov 22 (Reuters) – OPEC+ has delayed a ministerial meeting expected … Read more
By Dale Swampy At the National Coalition of Chiefs (NCC) we have developed several national First Nation employment and training programs, including our flagship, the NCC National First Nations Electrician Apprenticeship program, which operates in partnership with the Aboriginal Skilled Workers Association ( ASWA ). We’re also working with First Nation communities and industry to develop an employment program to … Read more
A public information event was held on Nov. 8 for Prince Rupert residents to learn more about the proposed Ksi Lisims Liquid Natural Gas (LNG) project. The open house was part of the facility’s enviromental assessment application. If approved, the floating North Coast liquefaction plant could begin operation by the end of the decade. While … Read more
Each week Josef Schachter gives 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 35 energy, energy service and pipeline & infrastructure companies with regular quarterly updates. We also hold quarterly webinars and provide Action … Read more
By Kenneth P. Green, Senior Fellow, Fraser Institute For several decades now, some economists have supported the idea of carbon taxes. An ideal carbon tax, they argue, is uniform across the economy, fuel/technology neutral, in lieu of—not atop of—additional regulations and subsidies, and revenue neutral. Others, including myself, have argued that such an ideal carbon … Read more
Courtesy of GIPHY Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE Almost every day now, a new energy transition project or a plan to rapidly grow an electricity grid is announced. Between net-zero electrification goals and landmark policy support like the Inflation Reduction Act, there’s an incredible momentum behind the electricity sector. But … Read more
By Irina Slav More From Irina Slav Borislav Boev has a Ph.D in economics. He defended his thesis in the field of economics of nuclear energy. He’s the author of numerous scientific publications dedicated to strategic energy planning and the economic aspects of nuclear energy. Honorary lecturer at the D.A. Tsenov Academy of Economics – … Read more
Courtesy of GIPHY Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE Almost every day now, a new energy transition project or a plan to rapidly grow an electricity grid is announced. Between net-zero electrification goals and landmark policy support like the Inflation Reduction Act, there’s an incredible momentum behind the electricity sector. But … Read more
Summary Markets cautious ahead of Nov. 26 OPEC+ meeting Eyes on whether OPEC+ cuts rolled over or deepened U.S. government data on stockpiles due Wednesday LONDON, Nov 22 (Reuters) – Oil prices slipped on Wednesday in quiet pre-U.S. Thanksgiving holiday trading, as the market awaited news on output cuts from the OPEC+ producers group and … Read more
Summary Says base case is voluntary group cut is left unchanged Sees 35% subjective probability major OPEC producers may announce “deeper” group cut (Reuters) – Goldman Sachs says the possibility of a deeper group oil output cut is on the table when OPEC+ oil producers meet this weekend, and it expects Saudi Arabia and Russia … Read more
(Bloomberg) The OPEC+ meeting scheduled for this weekend looked to be running into trouble as Saudi Arabia expressed dissatisfaction with other members about their oil production levels. As of Wednesday morning, it looked like the OPEC+ conference could be delayed for an unspecified period of time, delegates said. Saudi Arabia, which has been making an … Read more
(Bloomberg) Finance Minister Chrystia Freeland released a budget update that showed the Canadian government plans C$20.8 billion ($15.2 billion) in net new costs over six years focused on priorities including affordable housing and the clean energy transition.However, it will stretch that spending out over time to avoid growing this year’s C$40 billion deficit. There is … Read more
Kingsway Instruments is excited to share Fluke’s Fall Favorites Promo valid from October 16 – December 31, 2023. Buy Fluke tools and get free gear! Redeem Fluke branded gear or tools when you make a qualifying purchase of $680.00 or more with Kingsway Instruments, Canada’s Most Trusted Fluke Store! Also – purchase participating products such … Read more
CALGARY, Alberta, Nov. 21, 2023 (GLOBE NEWSWIRE) — Helium Evolution Incorporated (TSXV:HEVI) (“HEVI” or the “Company“), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, today announced the filing of the Company’s interim condensed financial statements and associated management’s discussion and analysis for the three and nine month periods ended September 30, 2023 … Read more
CALGARY, Alberta, Nov. 21, 2023 (GLOBE NEWSWIRE) — Calgary, Alberta, November 21, 2023 – Helium Evolution Incorporated (TSXV:HEVI) (“HEVI” or the “Company“), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, is pleased to confirm HEVI’s first joint helium discovery with partner, North American Helium Inc. (“NAH”), following completion of the Deadwood zone … Read more
The Canadian Taxpayers Federation is calling on the federal government to rein in spending and cut taxes following the release of the 2023 fiscal update. “This is the first time this government is starting to recognize reality, but spending is still billions higher than last year and the deficit is bigger,” said Franco Terrazzano, CTF … Read more
OTTAWA — Almost half of the Canada Growth Fund for clean technology investments will be allocated to special contracts intended to give companies the confidence they need to make major investments to lower their greenhouse-gas emissions.
Finance Minis…
An artist’s rendering of the SMR plant at Darlington, courtesy of Ontario Power Generation Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE Saskatchewan: Easy to draw, hard to spell, and impossibly flat. But a newly signed nuclear agreement might just create a few new landmarks that pop up across that endless horizon. What … Read more
The basic strategy in the fight to limit climate change is to power everything with electricity, generated from wind, solar or other clean sources. But there’s a problem: Some things can’t easily run on electricity. Think steel mills, cement plants and long-distance passenger jets — they need a clean fuel that can be stored and … Read more
REGINA, SK / ACCESSWIRE / November 21, 2023 / ROK Resources Inc. (“ROK” or the “Company“) (TSXV:ROK)(TSXV:ROK.WT)(OTCQB:ROKRF) has filed its interim Financial Results and Management Discussion & Analysis for the three and nine months ended September 30, 2023. Q3 2023 HIGHLIGHTS Production up 10% YoY and 17% QoQ: Production averaged 3,858 boepd in the period, representing 10% … Read more
CALGARY, AB, Nov. 21, 2023 Highlights Expanded growth targets to deliver up to 1.75 GW with a target investment of $3.5 billion by 2028 which will deliver annual EBITDA of $350 million Growth will focus on customer-centred renewables and storage through the execution of its current 4.8 GW development pipeline Expand development pipeline to reach … Read more
Vancouver, British Columbia–(Newsfile Corp. – November 21, 2023) – Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) (“Hemisphere” or the “Company”) is pleased to provide its financial and operating results for the three and nine months ended September 30, 2023, announce the declaration of a quarterly dividend payment to shareholders, and provide an operations update. Q3 2023 Highlights Second best … Read more
By Geoffrey Cann It Happens To Everyone at Some Point After five years at our current home, we decided this year it was time to renovate. The pandemic brought it to a fore when we ran out of working space, forced on us from work from home policies. We quickly grew frustrated with the work arounds, the inefficiencies, … Read more
The Canadian Press OTTAWA — The federal government will appeal a recent Federal Court ruling that struck down a cabinet order underlying Ottawa’s ban of some single-use plastics, Environment Minister Steven Guilbeault said Monday. The Nov. 16 decision said Ottawa had overstepped by labelling all “plastic manufactured items” as toxic under the Canadian Environmental Protection … Read more
(Reuters) – The global oil market will see a slight surplus of supply in 2024 even if the OPEC+ nations extend their cuts into next year, the head of the International Energy Agency’s (IEA) oil markets and industry division told Reuters on Tuesday. At the moment, however, the oil market is in a deficit and … Read more
(Reuters) – The Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, are known as OPEC+ and will meet in Vienna, Austria, on Nov. 26 to discuss their joint output policy. Below are key facts about OPEC+ and its role. What are OPEC and OPEC+? OPEC was founded in 1960 in Baghdad … Read more
Summary More OPEC+ cuts likely next year, analysts say U.S. inventory reports seen showing rising crude stocks Coming up: API report, 2130 GMT LONDON, Nov 21 (Reuters) – Oil fell on Tuesday, reversing steep gains made in the past two sessions, as investors turned cautious ahead of a meeting of OPEC+ this Sunday when the … Read more
(Reuters) – Siemens Gamesa, the struggling wind division of Germany’s Siemens Energy (ENR1n.DE), plans to cut costs by around 400 million euros ($436 million) by 2026, according to presentation slides posted online ahead of the company’s capital markets day. The goal was to “simplify organization and optimize overhead costs” while the Siemens Gamesa’s onshore wind … Read more
This week, the Trudeau government will release its fall fiscal update, which, considering the sorry state of federal finances, should demonstrate a newfound approach to spending and borrowing. But don’t hold your breath. Although the Trudeau government describes itself as “fiscally responsible,” in reality it has a track record of unrestrained spending and large budget deficits. And … Read more
(Bloomberg) It’s about to get very noisy in the climate world as more than 70,000 people flock to the United Arab Emirates for the COP28 summit starting next week. Making sense of the many announcements about to land will be a challenge. The main headlines will rightly focus on what nearly 200 countries agree on at the United Nations-backed … Read more
All financial figures are in Canadian dollars, unless noted otherwise Calgary, Alberta–(Newsfile Corp. – November 20, 2023) – Suncor Energy (TSX: SU) (NYSE: SU) announced today it has closed the transaction to purchase TotalEnergies EP Canada Ltd., which includes the remaining 31.23% working interest in the Fort Hills Project. The $1.468 billion purchase price is subject to closing adjustments … Read more
OTTAWA, ON, Nov. 20, 2023 /CNW/ – Critical minerals are key enablers of clean technologies, like batteries, and clean energy sources, such as wind turbines and solar panels, which are essential to achieving a net-zero-emissions future and fighting climate change. Canada is already a leading supplier of sustainably sourced minerals and materials and is committed … Read more
DENVER, Nov. 20, 2023 /PRNewswire/ – Ovintiv Inc. (NYSE: OVV) (TSX: OVV) (the “Company”) today announced the upsize and pricing of a previously announced underwritten public offering of its common stock (the “Offering”) by NMB Stock Trust, a Delaware statutory trust (the “Selling Stockholder”). The size of the Offering increased from the previously announced 8,400,000 shares … Read more
Latest round in Kenya ends in deadlocked negotiations The Canadian Press Nations wrapped up on Sunday a third round of talks in Kenya as part of a five-meeting schedule to hammer out a draft of a treaty to end global plastic pollution. Consensus has so far been elusive at the negotiations, with Ottawa set to host … Read more
Two-in-five 2021 Liberal voters now looking elsewhere, bolstering CPC and NDP November 20, 2023 – The latest data to be released from the non-profit Angus Reid Institute finds the Conservative Party of Canada leading the governing Liberal Party by 14 points nationally. The CPC lead in all regions of the country outside of Quebec, where three-in-10 … Read more
‘LNG is in greater demand than ever before and continues to drive economic growth and enhance energy security across the world’ By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Photo courtesy Tourmaline The massive Montney natural gas play in Alberta and B.C. is growing in importance … Read more
The Organization of the Petroleum Exporting Countries and allies (OPEC+) are likely to extend or even deepen oil supply cuts into next year, after a more than 15% drop in Brent prices from a peak in September, eight analysts have predicted. OPEC+ is set to consider whether to make additional cuts when the group meets … Read more
Calgary, Alberta–(Newsfile Corp. – November 20, 2023) – Resolute Resources Ltd. (TSXV: RRL) (“Resolute” or the “Company“) is pleased to announce that the rig, Precision Drilling Rig #141, is being mobilized to the 14-19-83-23W5 drill pad this week. The RESOLUTERESLTD HZ ANTHONY 11-24-83-24 is planned to Spud on November 23rd, 2023. The well is expected to take ten days … Read more
(Reuters) – Canada’s government will present legislation this month to start paying subsidies for carbon capture and net-zero energy projects, a source with direct knowledge of the matter told Reuters, part of a plan to worth around $20 billion over five years. A long delay in state support for carbon capture utilization and storage (CCUS) … Read more
Summary OPEC+ to consider whether to make more supply cuts -sources Crude prices had dropped almost 20% since September US adds oil and gas rigs for the first time in three weeks LONDON, Nov 20 (Reuters) – Oil futures rose more than $1 on Monday, extending gains on the prospect of OPEC+ deepening supply cuts … Read more
The future of the Trudeau government’s ban on single-use plastic is uncertain following the recent Federal Court ruling, which declared that Ottawa exceeded its authority by classifying all “plastic manufactured items” as toxic. As the federal government considers the possibility of appealing the decision, it’s essential to understand that Ottawa’s plastic ban is an expensive measure to a … Read more
Bloomberg News Monetary policy in Canada wouldn’t be as restrictive if elected officials had restrained their spending in recent years, according to economists at the Bank of Nova Scotia. Roughly 200 basis points of interest rate tightening stems from the combined program spending and consumption by Canada’s federal and provincial governments since the pandemic, Scotiabank … Read more
CALGARY, Alberta, Nov. 20, 2023 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (the “Company”) reports that it has filed amended Management’s Discussion and Analysis (MD&A) for the interim period ended September 30, 2023. The Company’s originally filed interim MD&A for this period, which was filed with applicable Canadian securities regulatory authorities on November 14, 2023 … Read more
Introduction: In the dynamic and demanding environment of power plants, maintaining optimal water quality is crucial. Westech Industrial, in partnership with Mettler Toledo, is at the forefront of this challenge, offering cutting-edge solutions for water quality monitoring. This article delves into how Mettler Toledo’s innovative sensor technology is transforming dissolved oxygen (DO) monitoring, a key … Read more
U.S. energy firms this week added oil and natural gas rigs for the first time in three weeks, as the oil rig count rose by the most since February, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose … Read more
More often than not, the terms “rig mat” and “access mat” are used interchangeably along with a dozen other terms. After 19 years in business, we’ve been asked the who’s who matting question time and time again, and it’s one we love talking about! So, we thought we’d write about some of the differences. Essentially, … Read more
Toronto, November 17, 2023: In a welcome decision by the Federal Court, the plastics ban first implemented in 2022 by Environment Minister Steven Guilbeault has been struck down by the Federal Court. Catherine Swift, President of the Coalition of Concerned Manufacturers and Businesses Canada (CCMBC) stated “Every one of the three reasons this ban was … Read more
We’re a travel management company (TMC) that has been serving thousands of Canadian clients for over 20+ years. Service is big around here and our dedicated travel experts are on hand, anytime, anywhere. Whether you’re in the office or out on the road, we’ve always got your back. We’ve been working with customers in the oil & energy … Read more
The government’s electric vehicle battery plant projects will likely cost a lot more than expected, the parliamentary budget officer said in a report released Nov. 17. See the full report here: Costing Support for EV Battery Manufacturing – PBO The government recently announced $37.7 billion in funding toward the plants, with $13.2 billion going toward Volkswagen AG, $15 … Read more
A study from one of Canada’s premiere climate labs says methane emissions from Alberta’s energy industry are underestimated by almost 50 per cent.
The study from Carleton University’s Energy and Emissions Research Lab also says oil and gas produced i…
By Tegan Hill, Associate Director, Alberta Policy, Frasier Institute Provincial and territorial finance ministers recently met with federal Finance Minister Chrystia Freeland to discuss a hot topic—Alberta’s potential withdrawal from the Canada Pension Plan (CPP). According to Nova Scotia Finance Minister Allan MacMaster, “there was real consensus” from his peers that they want Alberta to stay … Read more
Summary Benchmarks on track for fourth straight week of losses OPEC+ considers additional oil supply cuts U.S. oil rig count rises for the first time in three weeks – Baker Hughes NEW YORK, Nov 17 (Reuters) – Oil prices rose about 4% on Friday, as investors who had taken short positions took profits, prompting a … Read more
A Canadian court on Thursday struck down a regulation classifying some plastic products as toxic, a ruling that could hurt a push by Ottawa to ban single-use plastic items like bags, straws and forks. A ban on manufacturing and importing “harmful” single-use plastics came into effect last December after the federal government formally drew up … Read more
Goldman Sachs expects Brent prices to average at $92 per barrel (bbl)in 2024, and expects the oil market to tighten at a moderate pace amid solid demand while core OPEC supply remains low. The bank in a note dated Thursday said it expects a 0.7 million barrel per day (mb/d) deficit and a solid 1.6 … Read more
Summary OPEC+ meets to set policy on Nov. 26 Oil has fallen to four-month low this week Saudi Arabia expected to extend voluntary cut – Energy Aspects MOSCOW/LONDON, Nov 17 (Reuters) – OPEC+ is set to consider whether to make additional oil supply cuts when the group meets later this month, three OPEC+ sources told … Read more
CALGARY, AB, Nov. 17, 2023 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company”) is pleased to announce the completion of its previously announced acquisition of Bonavista Energy Corporation for $1.45 billion, consisting of $725 million in Tourmaline common shares and $725 million of cash, less Bonavista’s net debt(1). The Company expects exit 2023 production of over 600,000 boepd, including the acquired Bonavista volumes. Reader Advisories Currency All … Read more
After years of disinterest, energy security concerns and the push for net zero are leading investors to bet on nuclear power. Markets soured on nuclear following the Fukushima Daiichi nuclear power disaster in March 2011, but the push toward net zero, rising global energy insecurity, and growing appetite for next generation reactor technology is restoking … Read more
A Canadian startup raised $55 million from venture capital firms and governments to begin a carbon-capture plant in Quebec, using early-stage technology that aims to suck millions of tons of emissions out of the atmosphere and oceans. Deep Sky Corp. was founded by Frederic Lalonde, chief executive officer of Hopper Inc., a Montreal-based air-travel application … Read more
Calgary, Alberta–(Newsfile Corp. – November 17, 2023) – COELACANTH ENERGY INC. (TSXV: CEI) (“Coelacanth” or the “Company”) is pleased to announce its financial and operating results for the three and nine months ended September 30, 2023. All dollar figures are Canadian dollars unless otherwise noted. HIGHLIGHTS Completed two Upper Montney wells on its 10-08 pad at Two … Read more
Two-in-five would abolish the tax, while others would temporarily reduce it, maintain, or increase it November 16, 2023 – The Trudeau government, once lauded for its savvy communications style is facing resistance to one of its signature policies, in large part due to its evident failure to adequately communicate how the policy works. The latest data … Read more
The Canadian Press Tech giant Amazon is investing in its first Canadian wind farm. The company said it will partner with developer Copenhagen Infrastructure Partners on a 495-megawatt capacity wind farm to be built in Vulcan County in southern Alberta. The announcement on Thursday marks Amazon’s fourth renewable energy project in Canada and comes on … Read more
Exxon Mobil Corp. warned that making Big Oil into “villains” and trying to restrict supply of fossil fuels will slow the path to net zero emissions and keep millions of people in the developing world in poverty. “The solutions to climate change have been too focused on reducing supply,” Chief Executive Officer Darren Woods said … Read more
New fund will support children, families, seniors and newcomers By CEC Staff Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Photo courtesy City of Fort St. John, British Columbia As construction of the Coastal GasLink pipeline is completed, the project is leaving a new community legacy in northeast B.C. … Read more
REGINA — The Saskatchewan government has introduced legislation that it says would enable it to stop remitting the federal carbon tax on natural gas bills while providing legal protection for those at its energy Crown corporation.
The Saskatchewan Par…
By Alex Whalen and Elmira Aliakbari from the Fraser Institute The housing market is top of mind for many Nova Scotians these days, with widespread concern over availability and affordability. Unfortunately, new federal “energy efficiency” regulations are about to make the problem even worse. The regulations, part of the Trudeau government’s emission-reduction plan, mandate several … Read more
U.S. crude oil prices are anticipating an increase in inventories as the market moves into surplus during the first quarter of 2024, despite an expected extension of current production cuts by Saudi Arabia and its OPEC⁺ partners. U.S. crude futures for deliveries in January 2024 closed at $77 per barrel on November 15 – still … Read more
CALGARY, AB, Nov. 16, 2023 /PRNewswire/ – Vermilion Energy Inc. (“Vermilion”) (TSX: VET) (NYSE: VET) announces that it has filed an early warning report (the “Early Warning Report”) in respect of its holdings in Coelacanth Energy Inc. (“Coelacanth”). Vermilion has acquired ownership of, or control and direction over, additional common shares (“Common Shares”) of Coelacanth in an amount … Read more
CALGARY, AB, Nov. 16, 2023 /CNW/ – CanAsia Energy Corp. (“CanAsia” or the “Company”) (TSXV: CEC) reports 2023 third quarter consolidated financial and operating results. The Company is today filing its unaudited consolidated financial statements as at and for the nine months ended September 30, 2023 and related management’s discussion and analysis with Canadian securities regulatory authorities. Copies of these documents … Read more
Summary U.S. front-month contract at discount to second month China Oct oil refinery runs slow from previous month U.S. crude stocks rise more than expected Nov 16 (Reuters) – Oil prices edged lower on Thursday, extending losses from the previous session as signals of higher supply from the United States met concern over lacklustre energy … Read more
(Bloomberg) As net zero pledges proliferate, they’re often directly undermined by the lobbying activities of the companies making them, according to a fresh study. InfluenceMap, a London-based nonprofit, found that 58% of the companies it analyzed advocate on climate policy in a way that’s at odds with their stated net zero goals, according to a report … Read more
Each week Josef Schachter gives 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 35 energy, energy service and pipeline & infrastructure companies with regular quarterly updates. We also hold quarterly webinars and provide Action … Read more
A federally guaranteed Indigenous loan program is reconciliation progress, but only if it respects Indigenous agency. Roger Marten, right, Chief of Cold Lake First Nations, and Curtis Monias, centre, Chief of Heart Lake First Nation, speak after Cenovus CEO Alex Pourbaix announces an initiative focused on Indigenous communities. Photo from The Canadian Press. By Resource … Read more
A syndicate led by Bank of Montreal and Royal Bank of Canada is executing a clean-up trade on shares of Crescent Point Energy Corp., according to people familiar with the matter, after a hung deal last week left the lenders holding onto millions of shares. Crescent Point shares were re-offered to clients at C$9.70 each, … Read more
“We are in the quality of life business, and that’s exactly what our business provides.” By Cody Ciona Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Photo for the Canadian Energy Centre by Dave Chidley A lawyer by education, with terms in high profile roles as executive director … Read more
Calgary, Alberta–(Newsfile Corp. – November 15, 2023) – Coelacanth Energy Inc. (TSXV: CEI) (the “Company” or “Coelacanth”) is pleased to announce that, further to its press release dated October 23, 2023, it has closed its previously announced bought-deal financing (the “Bought-Deal Financing“) of 100,000,000 units of the Company (the “Units“) at a price of $0.80 per Unit for gross … Read more
(Reuters Breakingviews) – Sultan al-Jaber has a tough gig. In a fortnight the United Arab Emirates will host the 28th Conference of the Parties, the world’s key climate gathering. The chief executive of the Abu Dhabi National Oil Company (ADNOC) is tasked with making it a success. His best bet is to focus on correcting … Read more
Summary Denmark could block Russian tankers in its waters -FT US oil supply could be keeping prices down -analyst Inflation cools in US, UK LONDON, Nov 15 (Reuters) – Oil prices dipped on Wednesday amid signs the United States, the world’s biggest oil producer, is at peak production, offsetting positive crude demand signals from top … Read more
World’s top exporter Saudi Arabia is expected to extend its additional voluntary supply cuts to at least the first quarter, if not the first half of 2024, Amrita Sen, co-founder of consultancy Energy Aspects said on Wednesday. Current oil prices are not low enough to push the Organization of the Petroleum Exporting Countries and their … Read more
CALGARY, Alberta, Nov. 14, 2023 (GLOBE NEWSWIRE) — NXT Energy Solutions Inc. (“NXT” or the “Company”) (TSX: SFD; OTCQB: NSFDF) today announced the Company’s financial and operating results for the three and nine months ended September 30, 2023. All dollar amounts herein are in Canadian Dollars unless otherwise identified. Financial and Operating Highlights Key financial … Read more
Siemens Energy AG is laying out a path to return to profit but it will take time. Ongoing problems at its Gamesa wind subsidiary will drive another operating loss this fiscal year, despite profits in other business lines, and the unit won’t break even until 2026, the company said Wednesday. To bolster its balance sheet … Read more
Climate campaigner Greta Thunberg pleaded not guilty to a public order offense in London after being arrested while blockading an oil and gas conference. The Swedish activist, 20-years-old, was at Westminster Magistrates Court to plead with nine other protesters. A trial is set for Feb. 1. Thunberg was arrested on Oct. 17 during a protest … Read more
Evaporating lithium brines in Chile, courtesy of Reuters Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE “Being salty” can be an expression of resentfulness or irritation. Like when your Edmonton Oilers fumble their season despite having two of the best players in the league and sack yet another head coach. Sometimes though, being salty is … Read more
CALGARY — Parkland Corp. says it expects $6 billion in cumulative available cash flow from 2024 to 2028 that it plans to use to fund dividends, share buybacks, growth and debt reduction.
The company says it plans to use 25 per cent of the expected cas…
By Montrose Environmental In today’s world, environmental compliance is a crucial aspect for organizations across many different industries. Meeting regulatory requirements and effectively managing emissions data is essential for sustainable operations. Montrose Environmental offers a comprehensive platform called TARGET ONLINE, along with a mobile app called TARGET TRACK. These innovative platforms provide numerous benefits for … Read more
Glencore Plc will buy a majority stake in Teck Resources Ltd.’s coal business, ending a months-long saga that transfixed the mining industry and setting the stage for the commodity giant to exit the coal business itself.The two companies have spent much of the year in a bitter public fight after Teck rejected an unsolicited $23 … Read more
Investors continued to sell petroleum futures and options last week as sentiment became the most bearish since the middle of the year, before Saudi Arabia and its OPEC+ partners removed extra crude from the market. Hedge funds and other money managers sold the equivalent of 57 million barrels in the six most important futures and … Read more
The Trans Mountain oil pipeline expansion project on Tuesday said it had been allowed to resume work in a wetland area near Abbotsford, British Columbia, after correcting issues raised by the Canada Energy Regulator (CER). Earlier this month the CER ordered a halt on an 800-meter stretch after inspectors found several environmental and safety-related non-compliances. … Read more
CALGARY, Alberta, Nov. 14, 2023 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its Q3 2023 financial and operational results and its preliminary guidance for 2024. Birchcliff is also pleased to announce that its board of directors (the “Board”) has declared a quarterly cash dividend of $0.20 per … Read more
Calgary, Alberta–(Newsfile Corp. – November 14, 2023) – Greenfire Resources Ltd. (NYSE: GFR) (“Greenfire” or the “Company”), a Calgary-based energy company focused on the sustainable production and development of thermal energy resources from the Athabasca region of Alberta, Canada, is pleased to announce its operating and financial results for the quarter ended September 30, 2023. … Read more
CALGARY, Alberta, Nov. 14, 2023 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident” or the “Company”) announces our operating and financial results for the quarter ended September 30, 2023. PPR’s interim financial statements and related Management’s Discussion and Analysis (MD&A) are available on our website at www.ppr.ca and filed on SEDAR+ at www.sedarplus.ca. THIRD QUARTER 2023 FINANCIAL AND OPERATIONAL … Read more
CALGARY, AB / ACCESSWIRE / November 14, 2023 / Avila Energy Corporation (“Avila” or the “Company” or “Avila Energy“), trading symbol trading symbol, (CSE:VIK)(OTC PINK:PTRVF)(FRA:6HG0), provides an operational update and is pleased to announce the future addition of third (3rd) party processing services. The Company upon closing its initial tranche of $1,033,000 as announced on October 31, 2023, … Read more
CALGARY, AB, November 13, 2023 /CNW/ – Tenaz Energy Corp. (“Tenaz”, “We”, “Our”, “Us” or the “Company”) (TSX: TNZ) is pleased to announce its financial and operating results for the three and nine months ended September 30, 2023. The unaudited interim condensed consolidated financial statements and related management’s discussion and analysis (“MD&A”) are available on SEDAR+ at www.sedarplus.ca and on Tenaz’s website at www.tenazenergy.com. … Read more
Calgary, Alberta–(Newsfile Corp. – November 14, 2023) – Pine Cliff Energy Ltd. (TSX: PNE) (OTCQX: PIFYF) (“Pine Cliff” or the “Company“) announces third quarter 2023 financial and operating results and mailing of Takeover Bid Circular. Third Quarter 2023 Results Results from the third quarter include: generated $17.1 million ($0.05 per basic and fully diluted share) and $49.0 … Read more
Global efforts to reach net-zero carbon emissions are failing in almost every way, with one exception: the boom in electric vehicles Bloomberg News Global efforts to reach net-zero carbon emissions are failing in almost every way, with one exception: the boom in electric vehicles. That’s the conclusion of a study that was jointly conducted by the Bezos Earth … Read more
Boosts 2023 growth forecast to 2.4 mln bpd Lifts 2024 growth forecast to 930,000 bpd Oil supply could go into surplus in 2024 LONDON, Nov 14 (Reuters) – The International Energy Agency (IEA) on Tuesday raised its oil demand growth forecasts for this year and next despite slower economic growth in nearly all major economies, … Read more
(Reuters) – Oil prices edged higher on Tuesday after the International Energy Agency (IEA) raised its demand growth forecasts, adding to bullish sentiment from the previous day’s OPEC guidance. Brent crude futures gained 20 cents, or 0.2%, to $82.72 a barrel by 0918 GMT. U.S. WTI crude futures climbed 21 cents, or 0.3%, to $78.47. … Read more
WASHINGTON, Nov 14 (Reuters) – The U.S. drive to develop sustainable aviation fuel (SAF) using ethanol could be slowed because of growing opposition to proposed pipelines that would curb greenhouse gas emissions from ethanol plants by capturing carbon dioxide and carrying it away to other states for storage. Ethanol industry players say the developments raise … Read more
LONDON, Nov 14 (Reuters) – The Chief Executive of French energy giant TotalEnergies (TTEF.PA) said on Tuesday that the liquefied natural gas (LNG) market will continue to experience volatility until new supply is available, but prices are reasonable compared to 2022. “Prices are volatile … Because we have very little margin (between) supply and demand system,” Patrick … Read more
(Bloomberg) –Orsted A/S has withdrawn from a partnership developing offshore wind projects in Norway as the company grapples with big losses resulting from rising costs. Orsted quit a consortium with Fred. Olsen Renewables AS and Hafslund Eco citing “a prioritization of investments” in its portfolio, according to the company. The pullback is a further sign … Read more
CALGARY, AB, Nov. 13, 2023 /PRNewswire/ – Strathcona Resources Ltd. (“Strathcona” or the “Company”) (TSX: SCR) today reported its third quarter 2023 financial and operational results. These results do not include contribution from Pipestone Energy Corp. (“Pipestone”), one of the Company’s predecessors which was acquired by Strathcona by way of a plan of arrangement (the “Pipestone Transaction”), which … Read more
Credit: https://img.freepik.com/free-photo/environmental-pollution-factory-exterior_23-2149057713.jpg As efforts to counter climate change ramp up and countries adopt more measures to achieve carbon neutrality by 2050, one industry has a tremendous amount of responsibility on its shoulders: the oil and gas sector. This sector contributes 9% of all man-made greenhouse gas emissions, while the fuel produced as a result contributes … Read more
For decades, nutrition advocates have exhorted Canadians to eat more fresh fruits and vegetables. Canada’s Food Guide suggests that half of our meals should be fruits and veggies. Why then does the Trudeau government plan to increase fruit and vegetable waste—and increase their costs? It’s all about the government’s war on plastics, specifically its agenda to … Read more
Reveals name of split-off crude oil pipelines business The Canadian Press CALGARY — With its Coastal GasLink pipeline project completed, TC Energy Corp. said its goal for the next few years will be to live within its means and control its capital expenditures. The Calgary-based pipeline company recently announced the mechanical completion of its 670-kilometre … Read more
By Canada Powered by Women A woman in rural China gets ready to make dinner. She starts with food prep, then reaches for her fuel source to begin cooking. Her options: likely wood or coal. As she cooks, she is probably not aware that nearly half a million people in China who cook with wood … Read more
Calgary, Alberta–(Newsfile Corp. – November 13, 2023) – Blacksteel Energy Inc. (“Blacksteel” or the “Corporation“) is pleased to announce the following operational update. Operational Update Blacksteel started field development work at Girouxville in November of 2022 to upgrade the facilities to comply with appropriate operational standards and install upgrades capable of processing additional fluid and … Read more
Calgary, Alberta–(Newsfile Corp. – November 13, 2023) – Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) (“Baytex”) announces that certain of its wholly owned indirect subsidiaries have received a notice of confirmation (the “Confirmation Letters” or “Letters”) from the Appeals Division of the Canada Revenue Agency (the “CRA”) that deny non-capital loss deductions relevant to the calculation … Read more
LITTLE ROCK, Ark. (AP) — Exxon Mobil on Monday announced it’s drilling for lithium in southern Arkansas, with the oil giant expected to begin production of the critical material for electric vehicles by 2027.
Exxon in early 2023 acquired…
Calgary, Alberta–(Newsfile Corp. – November 13, 2023) – Resolute Resources Ltd. (TSXV: RRL) (“Resolute Resources“, “Company“, “our” or “we“) Operational Update RESOLUTERESLTD HZ ANTHONY 7-24-83-24W5 The RESOLUTERESLTD HZ ANTHONY 7-24-83-24W5 (“Shoreline”, “7-24”) horizontal multilateral well was drilled with six lateral legs for a total length of approximately 8,500 meters. During drilling, many thousands of meters of oil … Read more
CALGARY, AB, Nov. 13, 2023 /CNW/ – Lucero Energy Corp. (“Lucero” or the “Company”) (TSXV: LOU) (OTCQB: PSHIF) is pleased to announce financial and operating results for the three and nine months ended September 30, 2023. The associated Management’s Discussion and Analysis (“MD&A”) and unaudited financial statements as at and for the three and nine months ended September 30, 2023 can be found at www.lucerocorp.com. … Read more
Goldman Sachs expects increased returns on commodities over the next 12 months, buoyed by higher spot prices amid easing monetary policy and recession fears while the asset class also strengthens on hedging against geopolitical supply risks. The bank has forecast returns of 21% on commodities over a 12-month horizon on the oil-heavy S&P GSCI Commodity … Read more
Summary Markets wary of more hawkish signals from Fed Saudi, Russia to continue voluntary oil cuts to year end Weak US, China data flags meagre oil demand LONDON, Nov 13 – Oil prices wavered on Monday, as renewed concerns over waning demand in the United States and China, coupled with mixed signals from the U.S. … Read more
(Reuters) – OPEC on Monday said oil market fundamentals remained strong and blamed speculators for a drop in prices as it slightly raised its 2023 forecast for global oil demand growth and stuck to its relatively high 2024 prediction. Oil has weakened to around $82 a barrel for Brent crude from a 2023 high in … Read more
NOTE: ENSERVA MEMBERS WITH PROMOCODE RECEIVE $900 OFF WORKSHOP COST! Contact Tawna McKay for ENSERVA PROMO CODE Tawna McKay (403) 539-0823 [email protected] PRICE & REGISTRATION HERE About This Event Enserva Energy and Envision Group are pleased to partner to bring you: ENVISION “MANAGEMENT & LEADERSHIP ESSENTIALS” 2-DAY TRAINING – Calgary, Alberta Open to both Enserva … Read more
(Bloomberg) Prime Minister Justin Trudeau’s promised cap on emissions from Canada’s oil and gas sector is coming by the end of the year, his environment minister said. The cap — which is among the most contentious of Trudeau’s climate policies — has continued to slip past deadlines. The government had aimed to release a draft … Read more
Mountain Valley Pipeline LLC sued Daniel Guidry and Ashley Stecher Wagner on Wednesday in federal court in Roanoke, Virginia, claiming they coordinated with others to illegally attach themselves to the land and construction equipment being used to build a segment of the pipeline in the Jefferson National Forest last month. The lawsuit said law enforcement … Read more
In the dynamic landscape of energy production, the precision measurement of hydrogen and hydrogen-enriched natural gas is paramount. Ultrasonic flow meters are at the heart of this technological evolution, offering unparalleled accuracy and dependability. The energy sector is undergoing a significant transformation. Renewable sources such as wind, water, and solar are becoming increasingly important in … Read more
By Marcus Lu | Article/Editing: Bruno Venditti Courtesy of Visual Capitalist – See More From Visual Capitalist HERE Visualizing All The World’s Carbon Emissions By Country The greenhouse effect, essential for sustaining Earth’s life-friendly temperatures, has been intensified by burning fossil fuels. This amplification of the natural greenhouse effect has led to significant alterations to the … Read more
(Bloomberg) As oil prices languish near a three-month low, forecasters are already predicting that Saudi Arabia won’t sit idle. The OPEC+ leader is likely to extend its 1 million barrel-a-day supply cut — introduced over the summer — into next year, according to analysts at UBS Group AG, FGE, Commerzbank AG and Eurasia Group. RBC Capital … Read more
Bank of Montreal, Royal Bank of Canada and others have been left holding millions of Crescent Point Energy Corp. shares after leading a C$500 million ($362 million) equity raise that failed to win widespread institutional investor support, according to people familiar with the matter. Calgary-based oil and gas producer Crescent Point issued 48.5 million shares … Read more
(Reuters) – U.S. energy firms this week cut the number of oil rigs operating for a second week in a row to the lowest since January 2022, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Friday. The combined oil and natural gas rig count, traditionally an early indicator of future … Read more
Producers reducing emissions per barrel, on track for absolute emissions reductions By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A truck approaches Wapisiw Lookout, the first reclaimed tailings pond in the oil sands industry. Photo courtesy Suncor Energy A widely-circulated article this week by the Associated … Read more
Oilfield service companies that cater to U.S. shale oil and gas producers are turning sour on fourth quarter demand, with clients keeping a tight grip on their wallets after largely exhausting their 2023 budgets. Many U.S. oil producers are pumping only enough oil to keep production flat and turning over more profit to investors. Shale … Read more
At a recent Senate committee hearing, Bank of Canada Governor Tiff Macklem said if governments in Canada, including the Trudeau government, follow through with spending plans for 2024, they’ll fuel inflation and hinder the bank’s ability to return inflation to its 2 per cent target. But of course, inflation isn’t the only consequence of high government … Read more
NEW YORK, Nov 10 (Reuters) – Oil prices gained about 2% on Friday as Iraq voiced support for OPEC+’s oil cuts ahead of a meeting in two weeks and as some speculators covered massive short positions ahead of weekend uncertainty. Still, prices settled with weekly losses of 4%, their third straight weekly decline. “This was … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) narrowed slightly on Tuesday:* WCS for December delivery in Hardisty, Alberta, settled at $25.70 a barrel under WTI, according to CalRock, strengthening from $26.00 a barrel under WTI on Friday. Markets were closed on Monday due to … Read more
Rogers warns rates may not return to low levels people were used to before pandemic Bloomberg News Senior deputy governor Carolyn Rogers said households and businesses in Canada should ready themselves for an era of borrowing costs higher than over the past 15 years, given the run-up in interest rates since the middle of 2021. … Read more
CALGARY, AB, Nov. 10, 2023 /CNW/ – Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX: CPG) (NYSE: CPG) is pleased to announce that it has completed its previously announced bought deal public offering of Crescent Point common shares (“Common Shares”) through a syndicate of underwriters co-led by BMO Capital Markets and RBC Capital Markets (collectively the “Underwriters”). … Read more
CALGARY — Suncor Energy Inc. says it has wrapped 1,500 job cuts two months ahead of schedule, but that it will continue to look for areas to trim as part of a wider efficiency push.
Chief executive Rich Kruger said on an earnings conference call Thurs…
(Reuters) – More than 60 countries have said they back a deal spearheaded by the European Union, United States and United Arab Emirates to triple renewable energy this decade and shift away from coal, two officials familiar with the matter told Reuters on Thursday. The EU, U.S. and UAE have been rallying support for the pledge ahead … Read more
(Reuters) – Oil prices rose on Friday but are set to fall for a third week amid signs of slowing demand and as market attention turns to a key meeting of OPEC and its allies this month which will determine the group’s next move on production. Brent crude futures for January were up 84 cents, … Read more
(Bloomberg) Since the Wright brothers invented the airplane in 1903, one aspect of how we fly hasn’t changed. Evolving plane design and improved engines aside, almost all modern aircraft have one thing in common: They’re powered by combustible fuels. That may be changing, though. Just as electric cars have started to revolutionize driving, a growing group of … Read more
(Bloomberg) The embattled wind industry remains economically viable even as higher costs and tougher markets drag down the world’s largest renewable energy companies, according to the chief executive of Macquarie Group Ltd. The industry has “cracked the code on bringing the cost down to be competitive with alternatives,” CEO Shemara Wikramanayake said on Friday at … Read more
CALGARY, AB, Nov. 9, 2023 /CNW/ – Headwater Exploration Inc. (the “Company” or “Headwater“) (TSX: HWX) is pleased to announce its operating and financial results for the three and nine months ended September 30, 2023. 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
Kobold Corporation and Kobold Completions Inc. (“Kobold”) announce that in a ruling issued by the Federal Court of Canada November 7th, in relation to a patent infringement lawsuit brought by NCS Multistage Inc. (“NCS”) against Kobold, the Court ruled that Kobold was entirely successful in its defence and counterclaim. In a case that the trial … Read more
November 9, 2023 – St. Albert, Alberta – Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) (the “Company” or “Enterprise”). Enterprise, a consolidator of energy services (including specialized equipment rental to the energy/resource sector), emphasizing technologies that mitigate, reduce, or eliminate CO2 and Greenhouse Gas emissions for small to Tier One resource clients, is pleased to announce its Q3 2023 results. … Read more
CALGARY, Alberta, Nov. 09, 2023 (GLOBE NEWSWIRE) — Condor Energies Inc. (“Condor” or the “Company”) (TSX:CDR), a Canadian based energy transition company with activities in Turkiye and Kazakhstan is pleased to announce the release of its unaudited interim condensed consolidated financial statements for the three and nine months ended September 30, 2023 together with the … 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, Nov. 09, 2023 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on its financial and operating results for the third quarter ended September 30, … Read more
THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. CALGARY, Alberta, Nov. 10, 2023 (GLOBE NEWSWIRE) — Cielo Waste Solutions Corp. (TSXV:CMC; OTCQB:CWSFF) (“Cielo” or the “Company”), a waste-to-fuel environmental technology company, is pleased to announce that it has closed the asset purchase transaction (the … Read more
Suncor Energy on Thursday said it is making progress on fixing a number of safety and operational issues that caused the share price of Canada’s second-largest oil producer to lag its rivals and spurred the resignation of its previous CEO. Calgary-based Suncor has been dogged by performance issues in recent years, culminating in a string … Read more
CALGARY, AB, Nov. 9, 2023 /CNW/ – (TSX: RBY) – Rubellite Energy Inc. (“Rubellite”, or the “Company”), a pure play Clearwater oil exploration and development company, is pleased to report third quarter 2023 financial and operating results. Select financial and operational information is outlined below and should be read in conjunction with Rubellite’s unaudited condensed interim consolidated financial statements and related Management’s … Read more
By John Kemp LONDON, Nov 9 (Reuters) – By most measures the oil market is the weakest it has been since late June before Saudi Arabia and its OPEC⁺ partners reduced by crude production by more than 1 million barrels per day. Front-month prices and calendar spreads have retreated sharply since the end of September, reversing … Read more
‘This is a great opportunity for our members to be on the ground floor of a First Nations-supported energy services company’ By Mario Toneguzzi and Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Energy worker in Alberta. Photo courtesy Government of Alberta Indigenous ownership in Canadian oil and … Read more
Story by Special to National Post – See the Original Story HERE The federal government is pushing an aggressive emissions reduction strategy that could devastate the Canadian economy and threaten our way of life. This isn’t just about the oil and gas industry. Port-related industries, transportation, infrastructure, health and education, and countless other sectors will … Read more
Calgary, Alberta–(Newsfile Corp. – November 9, 2023) – Trican Well Service Ltd. (TSX: TCW) (“Trican” or the “Company“) is pleased to announce its third quarter results for 2023. The following news release should be read in conjunction with Management’s Discussion and Analysis (“MD&A”), the unaudited interim consolidated financial statements and related notes of Trican for … Read more
Calgary, Alberta–(Newsfile Corp. – November 9, 2023) – Gear Energy Ltd. (“Gear” or the “Company”) (TSX: GXE) (OTCQX: GENGF) is pleased to provide the following third quarter operating results to shareholders. Gear’s Interim Consolidated Financial Statements and related Management’s Discussion and Analysis (“MD&A”) for the period ended September 30, 2023 are available for review on … Read more
UNITED NATIONS (AP) — Nuclear energy must be part of the equation to tackle climate change, the U.N. nuclear chief said Wednesday. Climate-warming hydrocarbons still supply more than 80% of the world’s energy, even after the trillions of dollars spent in the green transition of the past 20 years, Rafael Grossi, director general of the … Read more
CALGARY, AB, Nov. 9, 2023 /CNW/ – Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation“) (TSX: TWM) has filed its interim consolidated financial statements and Management’s Discussion and Analysis (“MD&A“) for the period ended September 30, 2023. THIRD-QUARTER 2023 HIGHLIGHTS On August 31, 2023, Tidewater announced the sale of its Pipestone natural gas plant (“Pipestone Phase I”), Pipestone expansion project (“Pipestone Phase II”, collectively “Pipestone”), … Read more
Increased average production by 10 percent over the third quarter of 2022 due to the strong performance of our development program Generated funds flow from operations of $98.9 million during the quarter, resulting in free cash flow of $47.7 million and net debt reduction to $294.3 million Commenced second half 2023 development program while completing … Read more
CALGARY AB, Nov. 8, 2023 /CNW/ – InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) (“InPlay” or the “Company”) announces its financial and operating results for the three and nine months ended September 30, 2023. InPlay’s condensed unaudited interim financial statements and notes, as well as Management’s Discussion and Analysis (“MD&A”) for the three and nine months ended September 30, 2023 will be … Read more
November 9, 2023 Calgary, Alberta–(Newsfile Corp. – November 9, 2023) – Kelt Exploration Ltd. (TSX: KEL) (“Kelt” or the “Company”) reports its financial and operating results to shareholders for the three and nine months ended September 30, 2023. The Company’s financial results are summarized as follows: FINANCIAL HIGHLIGHTS Three months ended September 30 Nine months ended September … Read more
Summary Brent nearly $20 a barrel lower than September peak Both Brent and WTI benchmarks hit lowest since July on Wednesday OPEC to discuss 2024 output policy later this month (Reuters) – The Brent crude oil benchmark hovered around $80 a barrel on Thursday, with demand concerns and a waning war-risk premium having triggered a … Read more
Nov 9 (Reuters) – Canadian uranium miner NexGen Energy has received Saskatchewan’s environmental assessment (EA) approval to proceed with the development of its 100%-owned Rook I Project, the company said on Thursday. The Rook I Project, which has a total initial capex of C$1.3 billion ($943 million), is the largest development-stage uranium project in the country. … Read more
LONDON, Nov 9 (Reuters) – Shell is suing Greenpeace for $2.1 million in damages after the environmental group’s activists boarded the company’s oil production vessel in transit at sea this year, according to Greenpeace and a document seen by Reuters. The British oil and gas major filed the claim in London’s High Court. Greenpeace activists … Read more
(Bloomberg) Since the International Energy Agency was founded five decades ago, it has compiled data on the government research and development budgets devoted to energy in its 31 member countries. This lets us take a detailed look at how energy-conscious developed countries have prioritized research over time. The IEA’s data series begins in 1974, during the first oil price … Read more
The big bang expected for oil prices this year is turning into a whimper. Just weeks ago, Brent crude was on the cusp of finally fulfilling industry forecasts of a return to $100 a barrel as record fuel demand and Saudi Arabia’s supply cuts depleted global oil inventories. The eruption of conflict in the Middle East shortly … Read more
Oil demand is healthy and speculators are to blame for the recent drop in crude prices, said Saudi Arabia’s energy minister. “It’s not weak,” Prince Abdulaziz bin Salman told reporters in Riyadh, when asked about the decline in oil prices. “People are pretending it’s weak. It’s all a ploy.” The minister said some participants in … Read more
There’s been an unwritten rule during the past decade of climate diplomacy: Good things can happen when the world’s two biggest economies are aligned. If the US and China can again come together in the quest to slash greenhouse gas emissions, there’s hope that progress can be made at COP28 in Dubai. To lay the groundwork for … Read more
(Bloomberg) The bad year that a lot of ESG investors are having may be about to get even worse.According to James Penny, the chief investment officer of TAM Asset Management and a veteran of ESG investing, the dramatic selloff that’s torn through green stocks may soon morph into a “slow burn” that could last several … Read more
The European Union and Canada will pledge greater ties when it comes to accelerating the shift to renewables and rolling out carbon markets globally.The two sides will form a “Green Alliance” at a summit in Canada at the end of this month, according to a draft document seen by Bloomberg News. Ottawa will sign up … Read more
Industry contributes $9 billion to $10 billion per year to government revenues across the country By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The oil sands industry in northern Alberta is one of Canada’s most important resources. The industry provides reliable energy supply as well … Read more
CALGARY, AB, Nov. 8, 2023 /CNW/ – Bonterra Energy Corp. (TSX: BNE) (“Bonterra” or the “Company”) is pleased to announce its operating and financial results for the three and nine month periods ended September 30, 2023. 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 website … Read more
CALGARY, AB, Nov. 8, 2023 /CNW/ – Kiwetinohk Energy Corp. (TSX: KEC) today reported its 2023 third quarter financial and operational results. As companion documents to this news release, please review the Company’s management discussion and analysis (MD&A) and condensed consolidated interim financial statements (available on kiwetinohk.com or www.sedarplus.ca) for additional financial and operational details. Message to shareholders “Kiwetinohk continues to focus … Read more
ADJUSTED EBITDA OF $122 MILLION AND $71 MILLION OF OPERATING CASH FLOW CONTINUED STRONG BOOKINGS AND RECORD ENGINEERED SYSTEMS BACKLOG OF $1.6 BILLION ON TRACK FOR NET DEBT-TO-EBITDA RATIO OF <2.5 TIMES BY END OF 2023 SUCCESSFULLY INTEGRATING EXTERRAN, CREATING A RESILIENT AND SUSTAINABLE BUSINESS CALGARY, Alberta, Nov. 08, 2023 (GLOBE NEWSWIRE) — Enerflex … Read more
CALGARY, Alberta, Nov. 08, 2023 (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 nine months ended September 30, 2023. Q3 2023 HIGHLIGHTS: Production up 49% – Production was up 49% from 6,639 boe/d(1) in the third quarter of … Read more
CALGARY, Alberta, Nov. 08, 2023 (GLOBE NEWSWIRE) — Crew Energy Inc. (TSX: CR; OTCQB: CWEGF) (“Crew” or the “Company”), a growth-oriented, liquids rich natural gas producer operating in the world-class Montney play in northeast British Columbia (“NE BC”), is pleased to announce our operating and financial results for the three and nine month periods ended … Read more
CALGARY, Alberta, Nov. 08, 2023 (GLOBE NEWSWIRE) — Pieridae Energy Limited (“Pieridae” or the “Company”) (TSX: PEA) announces the release of its third quarter 2023 financial and operating results. Pieridae generated Net Operating Income (“NOI”)1 of $12 million and produced 30,253 boe/d (86% natural gas) as the Company conducted its scheduled maintenance turnaround at the Waterton gas … Read more
CALGARY, Alberta, Nov. 08, 2023 (GLOBE NEWSWIRE) — Peyto Exploration & Development Corp. (“Peyto” or the “Company”) (TSX: PEY) is pleased to celebrate 25 years of successful operations in the Canadian energy industry with its financial results for the third quarter of 2023 and a preliminary capital plan for 2024. Q3 2023 Highlights: Peyto announced on … Read more
CALGARY, Alberta, Nov. 09, 2023 (GLOBE NEWSWIRE) — Prospera Energy Inc. (“Prospera” or the “Company”) (TSX.V: PEI, OTC: GXRFF, FRA: OF6B, OF6B.SG, OF6B.F, OF6B.BE). Prospera has resumed the phase two development of the horizontal infill drilling program. The sixth horizontal well spudded last Sunday and the horizontal infill drilling transformation from vertical wells will … Read more
Each week Josef Schachter gives 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 35 energy, energy service and pipeline & infrastructure companies with regular quarterly updates. We also hold quarterly webinars and provide Action … Read more
Calgary, Alberta–(Newsfile Corp. – November 8, 2023) – Blacksteel Energy Inc. (“Blacksteel” or the “Corporation“) announces that, further to its news release of August 25, 2023, a Cease Trade Order (the “CTO“) has been issued by the Alberta Securities Commission. The CTO was issued as a result of a delay in the filing of the Corporation’s audited … Read more
CALGARY — Suncor Energy Inc. says it earned a profit of $1.54 billion in the third quarter of 2023, compared to a net loss of $609 million in the prior year’s quarter.
The Calgary-based energy giant says its earnings work out to $1.19 per share, compa…
CALGARY, Alberta, Nov. 08, 2023 (GLOBE NEWSWIRE) — Freehold Royalties Ltd. (Freehold or the Company) (TSX:FRU) announces third quarter results for the period ended September 30, 2023. President’s Message The third quarter marked another strong period for Freehold as the Company was able to execute on the core aspects of its North American strategy, while providing a … Read more
CALGARY, Alberta, Nov. 08, 2023 (GLOBE NEWSWIRE) Precision Drilling Corporation (“Precision” or the “Company”) (TSX:PD; NYSE:PDS) is pleased to announce that it has completed its acquisition of CWC Energy Services Corp. (“CWC”). The total consideration for CWC included 947,807 Precision common shares, approximately $14 million in cash, plus the assumption of CWC’s net debt of approximately … Read more
Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and derived from the company’s condensed consolidated financial statements which are based on Canadian generally accepted accounting principles (GAAP), specifically International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), and are prepared in accordance with International Accounting … Read more
CALGARY, AB, Nov. 8, 2023 /CNW/ – The Canadian Association of Petroleum Producers (CAPP) is pleased to welcome Paul Myers as its new Chair of the Board of Directors. Paul is the President of Pacific Canbriam Energy and is a 35-year veteran of the oil and natural gas industry with experience in North America, Europe, and West Africa. The organization is also … Read more
BlackRock Inc. will invest $550 million of client money into Occidental Petroleum Corp.’s Stratos project, which will be the world’s largest plant capturing carbon dioxide directly from the air.BlackRock’s diversified infrastructure business signed an agreement through one of its funds to form a joint venture with Occidental’s 1PointFive subsidiary that will own Stratos, the companies … Read more
CALGARY, AB, Nov. 8, 2023 /CNW/ – Yangarra Resources Ltd. (“Yangarra” or the “Company“) (TSX: YGR) announces its financial and operating results for the three and nine months ended September 30, 2023. Operations Update Yangarra grew funds flow from operations (1) by 29% from last quarter, while maintaining production, despite a number of unplanned and extended 3rd party turnarounds. The nine wells brought on … Read more
CALGARY, AB, Nov. 8, 2023 /CNW/ – Keyera Corp. (TSX: KEY) (“Keyera”) announced its 2023 third quarter financial results today, the highlights of which are included in this news release. To view Management’s Discussion and Analysis (the “MD&A”) and financial statements, visit either Keyera’s website or its filings on SEDAR+ at www.sedarplus.ca. “We continue to deliver on our strategy, leveraging … Read more
CALGARY, Alberta, Nov. 08, 2023 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) is pleased to announce strong financial and operating results for the three and nine months ending September 30, 2023. We continued to invest in a disciplined manner in new high-return wells to fill and optimize existing facilities. New well production results … Read more
CALGARY — TC Energy Corp. reported a loss in its latest quarter compared with a profit a year ago as it took an impairment charge related to its Coastal GasLink pipeline project.
The result came as the company says it has achieved mechanical completio…
Summary API shows large build in U.S. crude stockpiles -sources OPEC export estimates remain high -Goldman Sachs China’s exports extend declines Nov 8 (Reuters) – Oil prices remained under pressure on Wednesday after sliding to their lowest in more than three months in the previous session, slipping further on concern over waning demand in the … Read more
Bloomberg News Canada is on track to miss its 2030 climate target largely due to delays in rolling out key measures such as an oil and gas emissions cap, concluded a new report from a federal auditor. Prime Minister Justin Trudeau has pledged to reduce Canada’s emissions by at least 40 per cent below 2005 levels … Read more
CALGARY, Alberta, Nov. 08, 2023 (GLOBE NEWSWIRE) — TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) released its third quarter results today. François Poirier, TC Energy’s President and Chief Executive Officer commented, “During the third quarter, we made monumental progress on Coastal GasLink and have achieved mechanical completion ahead of our year-end … Read more
CALGARY, Alberta, Nov. 08, 2023 (GLOBE NEWSWIRE) — Calfrac Well Services Ltd. (“Calfrac” or “the Company”) (TSX: CFW) announces its financial and operating results for the three and nine months ended September 30, 2023. The following press release should be read in conjunction with the management’s discussion and analysis and interim consolidated financial statements and notes thereto … Read more
CALGARY, Alberta, Nov. 07, 2023 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) is pleased to announce its financial and operating results for the three-month period ended September 30, 2023, and the declaration of its Q4 2023 regular dividend of C$0.375 per share. All amounts herein are in United States Dollars … Read more
California has led American states in its efforts to restrict expansion of the upstream oil and gas industry, but, on the other hand, industry has successfully countered almost every move by policymakers. So why has oil production turned down? Regardless of cause, is industry ready for the last phase of life? What will happen to … Read more
CALGARY — South Korean company Posco Holdings is considering investing in the exploration, development and commercialization of lithium in Alberta.
The company —which is best known for steel production but also invests in minerals, energy and more — s…
OTTAWA, ON: A Leger poll shows 57 per cent of Canadians want the federal government to remove the carbon tax from everyone’s home heating bills. “The majority of Canadians don’t think the government should be taxing people for heating their homes,” said Franco Terrazzano, CTF Federal Director. “The numbers from every region show Canadians know it’s … Read more
CALGARY — The CEO of one of the oilsands companies behind the Pathways Alliance says the group expects to provide a significant update on its proposed $16.5-billion carbon capture and storage project within the next couple of months.
Derek Evans, chie…
Demand for oil and natural gas will stay resilient for decades, driven by population growth and industrialization in developing economies across Asia, according to Woodside Energy Group Ltd., a key supplier of fossil fuels to the region. “Growth in demand for LNG in particular is expected to continue as buyers seek to secure supplies to … Read more
Strong Well Results and Successful Acquisition Integration Drive Increased Full Year Production Guidance Highlights: Generated net earnings of $406 million, cash from operating activities of $906 million, Non-GAAP Cash Flow of $1,112 million and Non-GAAP Free Cash Flow of $278 million after capital expenditures of $834 million Third quarter production was at or above the high end of guidance on every product … Read more
CALGARY, AB, Nov. 7, 2023 /CNW/ – Spartan Delta Corp. (“Spartan” or the “Company“) (TSX: SDE) is pleased to report its unaudited financial and operating results for the three and nine months ended September 30, 2023. Selected financial and operational information is set out below and should be read in conjunction with Spartan’s unaudited consolidated interim financial statements and related … Read more
CALGARY, AB, Nov. 7, 2023 /CNW/ – Journey Energy Inc. (TSX: JOY) (OTCQX: JRNGF) (“Journey” or the “Company“) is pleased to announce its financial and operating results for the three and nine month periods ending September 30, 2023. The complete set of financial statements and management discussion and analysis for the periods ended September 30, 2023 and 2022 are posted on www.sedar.com and on … Read more
CALGARY, AB / ACCESSWIRE / November 7, 2023 / White Tundra Petroleum Ltd. is pleased to announce that it has signed a binding purchase and sale agreement to acquire producing oil and gas properties in Provost and Wildunn with an effective date of July 1, 2023. Closing of the Acquisition is expected in Q4 2023 … Read more
Calgary, Alberta–(Newsfile Corp. – November 7, 2023) – Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) (“Saturn” or the “Company“) is pleased to report its financial and operating results for the three and nine months ended September 30, 2023. “Saturn reached a new milestone in its goal of creating sustainable free cash flow … Read more
OTTAWA — The plan to enable Canada to reach its 2030 targets for greenhouse-gas emissions doesn’t quite measure up, the federal environment commissioner says in a new audit.
Jerry DeMarco did a deep dive into the government’s emissions reduction plan…
CALGARY, Alberta, Nov. 06, 2023 (GLOBE NEWSWIRE) — Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX and NYSE: CPG) is pleased to announce that it has entered into an arrangement agreement (the “Agreement”) to acquire Hammerhead Energy Inc. (“Hammerhead”), an oil and liquids-rich Alberta Montney producer, for total consideration of approximately $2.55 billion, … Read more
According to a recent study, these new regulations will add more than $78,000 to the cost of a newly constructed home in B.C. by 2030. British Columbians face a housing crisis—that’s not breaking news. But now, new federal regulations aimed at “decarbonizing” the building sector will push housing prices in the province even higher with very … Read more
LONDON, Nov 7 (Reuters) – Oil prices hit fresh 2-1/2-month lows on Tuesday as mixed economic data from China offset the impact of Saudi Arabia and Russia extending output cuts. Brent crude futures were down $1.65, or 1.94%, to $83.53 a barrel as of 0920 GMT while U.S. West Texas Intermediate crude was at $79.21 … Read more
(Reuters) – The Organization of the Petroleum Exporting Countries and allies (OPEC+) sees a healthy global economy growing, despite the broad challenges of inflation. The United States is doing very well, although Europe is struggling, general secretary Haitham Al Ghais told the Argus European Crude Conference on Tuesday, noting that even Chinese annual growth is … Read more
CALGARY, AB, Nov. 6, 2023 /CNW/ – (TSXV: CWC) CWC Energy Services Corp. (“CWC” or the “Company”) is pleased to announce that at its special meeting of shareholders held earlier today (the “Meeting), the shareholders of CWC (“CWC Shareholders”) passed a special resolution (the “Arrangement Resolution”) approving a statutory arrangement (the “Arrangement”) pursuant to section 193 of the Business … Read more
The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened again on Monday: * WCS for December delivery in Hardisty, Alberta, settled at $28.00 a barrel under WTI, according to CalRock, weakening from $27.85 a barrel under WTI on Friday. * The discount on heavy Canadian … Read more
Calgary, Alberta–(Newsfile Corp. – November 6, 2023) – Cardinal Energy Ltd. (TSX: CJ) (“Cardinal” or the “Company”) is pleased to announce its operating and financial results for the third quarter ended September 30, 2023, the appointment of a new director, the establishment of a thermal operating unit and our 2024 budget. FINANCIAL AND OPERATING HIGHLIGHTS FROM THE … Read more
CALGARY, Alberta, Nov. 07, 2023 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) announced today that the Toronto Stock Exchange (“TSX”) has approved the renewal of the company’s normal course issuer bid (“NCIB”) to purchase up to 133,160,021 common shares during the 12-month period commencing November 9, 2023 and ending November 8, 2024. Cenovus’s renewal … Read more
By Alex Epstein At Jordan Peterson’s ARC conference I was asked to share the most important truths about our energy future. At Jordan Peterson’s ARC (Alliance for Responsible Citizenship) conference I was asked to share the most important truths about our energy future. I boiled it down to 7. Understand these and you’ll be a … Read more
By Geoffrey Cann The aviation fuel market is now ripe for fraud. Here’s how to prevent fraud from corrupting a market vital to decarbonization. Of all the engines burning fuel today, there’s a good bet that the very last one to go still will be a jet engine. If you watched the first Iron Man … Read more
MEG Energy Corp. says it earned $249 million in the third quarter, up from $156 million a year earlier.
The Calgary-based energy company says earnings per diluted share were 86 cents, up from 51 cents during the same quarter last year.
Revenues were $…
All financial figures are in Canadian dollars ($ or C$) and all references to barrels are per barrel of bitumen unless otherwise noted. The Corporation’s Non-GAAP and Other Financial Measures are detailed in the Advisory section of this news release. They include: cash operating netback, bitumen realization net of transportation and storage expense, operating expenses … Read more
November 6, 2023 CALGARY, Alberta, Nov. 06, 2023 (GLOBE NEWSWIRE) — Hammerhead Energy Inc. (“Hammerhead”) (TSX: HHRS ; NASDAQ: HHRS) is pleased to announce that it has entered into a definitive arrangement agreement (the “Arrangement Agreement”) with Crescent Point Energy Corp. (“Crescent Point”) (TSX: CPG ; NYSE: CPG) pursuant to which Crescent Point has agreed to acquire all of the issued and outstanding … Read more
CALGARY, Alberta, Nov. 06, 2023 (GLOBE NEWSWIRE) — Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX and NYSE: CPG) is pleased to announce that it has entered into an arrangement agreement (the “Agreement”) to acquire Hammerhead Energy Inc. (“Hammerhead”), an oil and liquids-rich Alberta Montney producer, for total consideration of approximately $2.55 billion, including approximately $455 million … Read more
CALGARY, Alberta, Nov. 06, 2023 (GLOBE NEWSWIRE) — Hammerhead Energy Inc. (“Hammerhead” or the “Company”) (TSX: HHRS ; NASDAQ: HHRS) is pleased to announce record financial and operating results for the third quarter of 2023. During the quarter, the Company maintained its planned two-rig program targeting Montney light oil, with a focus at North Karr. The critical new … Read more
CALGARY — Crescent Point Energy Corp. says it has signed a $2.55-billion deal to purchase Hammerhead Energy Inc, a Calgary-based energy company with assets in the Montney oil-producing region of northwest Alberta.
The deal positions Crescent Point as …
OTTAWA, ON: The Canadian Taxpayers Federation is calling on all Liberal MPs to vote in favour of today’s motion to remove the carbon tax from all home heating fuels. “All Canadians need carbon tax relief this winter,” said Franco Terrazzano, CTF Federal Director. “The Conservatives and the NDP say they will help all Canadians, now Liberal … Read more
(Reuters) – U.S. corporates and private equity firms are increasingly eyeing Canadian oil and gas companies for acquisition, drawn by lower valuations, ample fossil fuel reserves, and improving market access, according to dealmakers and analysts. Companies operating in the huge Montney shale formation, which spans northern Alberta and British Columbia and accounts for roughly half … Read more
Summary Oil futures up by 1% on Monday Saudi Arabia and Russia recommit to supply cuts to year end China’s refinery throughputs slowing from record levels LONDON, Nov 6 (Reuters) – Oil prices rose on Monday, after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end … Read more
By Aaron Foyer Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE Critical minerals are a group of naturally occurring elements and compounds that hold exceptional significance in the global economy and the development of cutting-edge technologies. These minerals are deemed “critical” due to their indispensable role in various industries, including clean energy, electronics, … Read more
CALGARY — The CEO of Pembina Pipeline Corp. says the company needs more certainty over timing, regulations and costs related to the Trans Mountain expansion project before deciding whether to make an offer for an equity stake in the pipeline.
The Calg…
(Reuters) – Canadian Prime Minister Justin Trudeau’s decision to grant a three-year carbon tax exemption for heating oil is meant to provide targeted relief to rural and low-income households, the country’s energy minister told Reuters, while defending the overall need for carbon pricing to meet climate goals. But critics have argued that Trudeau’s surprise move last … Read more
Summary Oil futures up by 1% on Monday Saudi Arabia and Russia recommit to supply cuts to year end China’s refinery throughputs slowing from record levels LONDON, Nov 6 (Reuters) – Oil prices rose on Monday, after top exporters Saudi Arabia and Russia reaffirmed their commitment to extra voluntary oil supply cuts until the end … Read more
Westech Industrial, a proud distributor of Hobré Instruments, is excited to share a groundbreaking solution for total sulfur analysis in petroleum products. The XRF method, championed by Hobré Instruments, stands out as the most suitable and reliable technique, especially when dealing with products with a final boiling point exceeding 450 ºC. Traditional methods based on … Read more
AI solutions are changing the world and our familiar working environment in a positive way. Also in NDE. Here, artificial intelligence is providing significant improvements in inspection processes – and DIMATE is leading the way. The range of applications includes the automatic recognition of components and the assignment to an inspection instruction: once stored, the … Read more
First large-scale solvent assisted SAGD project to start operations by year end By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Operations at Imperial Oil’s Cold Lake oil sands project. Photo courtesy Imperial Oil It’s an oil sands innovation that’s been in the works for more than … Read more
Canada’s largest stock exchange is in the midst of a historic dry spell for initial public offerings and it’s unlikely to improve anytime soon.Just one company has completed an IPO this year on the Toronto Stock Exchange, and without any last minute surprises it will be the first time that’s happened since 1993. Lithium Royalty … Read more
CALGARY, Alberta, Nov. 03, 2023 (GLOBE NEWSWIRE) — Clean Resource Innovation Network (CRIN) The Clean Resource Innovation Network (CRIN) is proud to announce the funding of nineteen (19) additional high-impact projects, totaling $16.1 million CAD in support. With this new commitment, CRIN continues to validate its role as a springboard for advancing Canadian energy innovation … Read more
Nov 3 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating to their lowest since February 2022, energy services firm Baker Hughes BKR.O said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, fell by 7 to 618 in the week … Read more
By Ron Bousso (Reuters) – Energy giants offered a rare glimpse into their liquefied natural gas (LNG) trading strategies in recent days, with Shell’s and TotalEnergies’ bets on rising Asian demand paying off while BP’s bet on a European deficit turned sour. The contrasting outcomes highlight the risky nature of trading divisions, at times notching … Read more
REGINA — Conservative Leader Pierre Poilievre made his pitch to Saskatchewan conservatives on Saturday, pledging better relations with Western Canada should he become the next prime minister.Poilievre, speaking at the Saskatchewan Party convention in Regina, praised Premier Scott Moe and his government for fighting Ottawa’s carbon pricing program and called on Prime Minister Justin Trudeau … Read more
Wages for US oil workers climbed for a third straight month, setting a fresh record as paychecks prove resilient amid slowing shale activity. Average hourly earnings for front-line oil-and-gas workers rose 0.9% in September from the previous month to $43.63, according to a Labor Department report released Friday. Compared with a year ago, oil pay is up … Read more
The world needs more Canadian energy, not less By Deborah Jaremko Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Construction on the Trans Mountain Pipeline Expansion in British Columbia. Photo courtesy Trans Mountain Corporation Anti-oil and gas activists are demanding Canadian institutions and investors stop all funding support for … Read more
by Deidra Garyk The argument often goes that strong climate change policies will create a favourable investment environment. One policy that is heralded as being a cost-effective tool to reduce greenhouse gas emissions by influencing consumption is a carbon tax. The belief in carbon taxes is so steadfast that if you do not support one … Read more
Reports record quarterly revenues of $187.0 million and Adjusted EBITDAS of $10.8 million CALGARY, Alberta, Nov. 02, 2023 (GLOBE NEWSWIRE) — FLINT Corp. (“FLINT” or the “Company”) (TSX: FLNT) today announced its results for the three and nine months ended September 30, 2023. All amounts are in Canadian dollars and expressed in thousands of dollars … Read more
Nov 3 (Reuters) – Canada energy infrastructure company Enbridge Inc on Friday reported third-quarter profit that topped analysts’ estimates and said it sees further opportunities for smaller acquisitions even as it finalizes a $14 billion deal to buy three U.S. gas utilities. Calgary-based Enbridge said the transaction with Dominion Energy was on track to close in 2024. … Read more
(Reuters) – Oil prices settled more than 2% lower on Friday as supply concerns driven by Middle East tensions eased, while jobs data raised expectations the U.S. Federal Reserve could be done hiking interest rates in the biggest oil consuming economy. Brent crude futures were down $1.92, or 2.3%, to $84.89 a barrel. U.S. West … Read more
Smith and Notley both say to cancel carbon tax on all heating fuels Saskatchewan Legislature passes unanimous motion against carbon tax LETHBRIDGE, AB: The Canadian Taxpayers Federation is calling on Alberta’s two Liberal Members of Parliament to vote to cancel the federal carbon tax on all home heating fuels. “Why isn’t Calgary Skyview MP George Chahal … Read more
After years of pumping cash into the sizzling electric-vehicle market, Tesla Inc. and other major automakers are facing a new dilemma: what to do when demand chills. While the battery-powered vehicle market is still expanding, the pace of growth has slowed considerably. As a result, Tesla, the world’s EV leader, and legacy automakers that had been … Read more
(Bloomberg) The delayed startup of a Canadian government-owned pipeline expansion project is weighing on the country’s heavy crude prices after producers ramped up output before the new capacity to export it has come online. Heavy Western Canadian Select crude’s discount to West Texas Intermediate grew $2.25 to $27.30 a barrel on Thursday, the widest since … Read more
(Reuters Breakingviews) – Shell CEO Wael Sawan has upped the UK group’s quarterly buyback plan while cutting back on unprofitable low-carbon activities. His pivot back into fossil fuels has shielded the $217 billion company from the wind energy troubles now ensnaring European peer BP and renewables giant Orsted. But the strategy can work only as long … Read more
(Reuters) – Oil prices were little changed on Friday, but headed for a second week of losses as supply concerns driven by conflict in the Middle East eased, while the demand outlook from the world’s top crude importer China remained uncertain. Brent crude futures were down 13 cents, or 0.1%, to $86.72 a barrel at … Read more
CALGARY — Enbridge Inc. says its most recent quarter delivered a profit of $500 million as it announced the acquisition of three U.S. gas utilities.
The Calgary-based pipeline giant says its second-quarter profit compared with $1.3 billion a year earl…
Each week Josef Schachter gives 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 35 energy, energy service and pipeline & infrastructure companies with regular quarterly updates. We also hold quarterly webinars and provide Action … Read more
BRINGING THE HEAT! Artic Therm provides an efficient Flameless Heat and clean Breathable Air for multiple applications using portable equipment to remote locations for extreme climate challenges. If your project is going to require Flameless Heat or is facing climate challenges, now is the time to look at our services. Here’s a Quick … Read more
There was always an incongruity between the strength of a carbon tax as a way to encourage reductions in greenhouse gas (GHG) emissions and the Trudeau government’s more activist approach to policy and managing the economy. That incongruity recently became irreconcilable, with the government’s heating oil exemption, which has raised the ire of western provinces. … Read more
The Canada Energy Regulator (CER) on Thursday ordered the Trans Mountain pipeline expansion project to stop work in a wetland area near Abbotsford, British Columbia, after inspectors found several environmental and safety-related non-compliances. Some of the non-compliances include insufficient fencing to protect amphibians and unapproved vegetation clearing, the regulator said in a notice on its … Read more
All financial figures are in Canadian dollars unless otherwise noted. This news release refers to certain financial measures and ratios that are not specified, defined or determined in accordance with Generally Accepted Accounting Principles (“GAAP”), including net revenue; adjusted earnings before interest, taxes, depreciation and amortization (“adjusted EBITDA”); adjusted cash flow from operating activities; adjusted … Read more
CALGARY, AB, Nov. 2, 2023 /CNW/ – (TSX: PMT) – Perpetual Energy Inc. (“Perpetual”, or the “Company”) is pleased to report its third quarter 2023 financial and operating results. Select financial and operational information is outlined below, and should be read in conjunction with Perpetual’s unaudited condensed interim consolidated financial statements and related Management’s Discussion and Analysis (“MD&A”) for the … Read more
CALGARY, AB, Nov. 2, 2023 /CNW/ – (TSX: ARX) ARC Resources Ltd. (“ARC” or the “Company”) today reported its third quarter 2023 financial and operational results and announced its 2024 budget. HIGHLIGHTS Third Quarter Results ARC delivered quarterly production of 360,177 boe(1) per day (63 per cent natural gas and 37 per cent crude oil and liquids(2)). Production increased five … Read more
All amounts in this news release are presented in United States dollars unless otherwise specified. All financial information contained within this news release has been prepared in accordance with U.S. GAAP. Production information, unless otherwise stated, is presented on a net basis (after deduction of royalty obligations). This news release includes forward-looking statements and information … Read more
CALGARY — Pembina Pipeline Corp. says it earned $346 million in the third quarter of 2023, down from $1.8 billion in the same three-month period of 2022.
The Calgary-based pipeline company says the decrease was primarily due to the benefit in 2022 fro…
Baytex Announces Third Quarter 2023 Results Calgary, Alberta–(Newsfile Corp. – November 2, 2023) – Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) (“Baytex”) reports its operating and financial results for the three and nine months ended September 30, 2023 (all amounts are in Canadian dollars unless otherwise noted). “Our third quarter results represent the first full quarter … Read more
LONDON, Nov 2 (Reuters) – Top oil exporter Saudi Arabia will probably reconfirm in the coming days the extension of its voluntary oil-output cut of 1 million barrels per day through December, six analysts told Reuters. Oil hit a 2023 high in September near $98 a barrel for Brent crude, although it has since weakened … Read more
BISMARCK, N.D. (AP) — Opponents of the Dakota Access oil pipeline are taking issue with the format of private oral testimony in meetings for public comment on a draft environmental review of the controversial pipeline.
The U.S. Army Corp…
CALGARY, AB, Nov. 2, 2023 /PRNewswire/ – Crescent Point Energy Corp. (“Crescent Point” or the “Company”) (TSX: CPG) (NYSE: CPG) is pleased to announce its operating and financial results for the quarter ended September 30, 2023. KEY HIGHLIGHTS Generated third quarter excess cash flow of $322 million ($0.60 per share), with full-year 2023 expected to total … Read more
CALGARY, AB, Nov. 2, 2023 /PRNewswire/ Highlights Highly accretive to free cash flow and cash yield upon closing with approximately 55% of revenues contracted with a weighted-average remaining life of 16 years Transaction valued at approximately $658 million, inclusive of the assumption of $268 million of low-cost debt, with an expected EBITDA multiple of approximately … Read more
Toronto, Ontario–(Newsfile Corp. – November 2, 2023) – Argo Gold Inc’s. (CSE: ARQ) (OTCQB: ARBTF) (FSE: P3U) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) (“Argo” or the “Company“) oil production results for September 2023: Lindbergh Oil Production Argo’s 37.5% interest Argo’s Oil Revenue Argo’s net operating cash flow September 2023 115 bbl/day 43.4 bbl/day $115,536 $83,068 Argo also announces that the seven leg multi-lateral horizontal Lloyd … Read more
CALGARY, AB, Nov. 2, 2023 /CNW/ – Paramount Resources Ltd. (“Paramount” or the “Company”) (TSX: POU) is pleased to announce its third quarter 2023 financial and operating results, which included record production, and an expansion of its Montney acreage in the Grande Prairie Region. The Company is also pleased to announce its 2024 capital expenditure budget and guidance and five-year outlook. … Read more
CALGARY — Cenovus Energy Inc. reported a third-quarter profit of $1.86 billion, up from $1.61 billion in the same quarter last year.
The company says the profit amounted to 97 cents per diluted share, up from 81 cents per diluted share a year earlier….
CALGARY — Less than 12 months after an activist investor critiqued its performance, fuel retailer Parkland Corp. has doubled its third quarter profit and announced it will exceed its previously announced earnings guidance for 2023.
On a conference cal…
CALGARY — Canadian Natural Resources Ltd. announced the retirement of president Tim McKay next year as it raised its quarterly dividend and reported a third-quarter profit of $2.34 billion, down from $2.81 billion a year ago.
Canadian Natural says McK…
Summary Oil futures trading 1% higher on Thursday U.S. Federal Reserve held rates steady on Wednesday Israeli forces fight Hamas around Gaza City Bank of England interest rate decision expected 1200 GMT London, Nov 2 (Reuters) – Oil gained 1% on Thursday to snap its three-day decline, as risk appetite returned to financial markets after … Read more
Calgary, Alberta–(Newsfile Corp. – November 2, 2023) – Commenting on the Company’s (TSX: CNQ) (NYSE: CNQ) third quarter 2023 results, Tim McKay, President, stated, “Our quarterly results demonstrate how our effective and efficient operations, combined with our diverse product mix generates significant free cash flow, resulting in strong shareholder returns through our sustainable and growing … Read more
CALGARY, Alberta, Nov. 01, 2023 (GLOBE NEWSWIRE) — STEP Energy Services Ltd. (the “Company” or “STEP”) is pleased to announce its financial and operating results for the three and nine months ended September 30, 2023. The following press release should be read in conjunction with the management’s discussion and analysis (“MD&A”) and unaudited condensed consolidated … Read more
CALGARY — Crescent Point Energy Corp. reported a loss of $809.9 million in its latest quarter related to non-cash charges in connection with the planned sale of its U.S. assets.
The company says the loss amounted to $1.52 per share for the quarter end…
Even under conservative estimates, Canada’s natural gas industry is expected to generate billions in government revenues and capex By Lennie Kaplan Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Overview With ongoing public discussions focusing on net zero emissions from Canada’s natural gas sector, it is a good time … Read more
U.S. oil and gas production has continued to rise as companies squeeze more from each well despite a fall in the number of rigs employed, with the industry boosting efficiency to offset the impact of lower prices. Crude and condensate production rose to a record 13.1 million barrels per day (b/d) in August, surpassing the … Read more
U.S. liquefied natural gas (LNG) producers ramped up exports in October, to 7.92 million metric tons, according to data provider LSEG, the second-highest monthly level on record. Exports were just shy of the record 8.01 million metric tons in April this year, and were up from 7.12 million metric tons in September, when plant maintenance … Read more
Amid a week of heavy political scrutiny over Prime Minister Justin Trudeau’s exclusive carbon-price carve-out for home heating oil, Conservative Leader Pierre Poilievre is pushing for a pause on all forms of home heating, until Canadians can have their say in “a carbon tax election.” “We all know that we’re not going to agree … Read more
by Tim Conn The recent SPE Montney and Duvernay workshop themed “Driving Forward with Discipline”, which was held at the Fairmont Chateau Lake Louise on October 23-25th, was bursting at the seams with over 300 attendees, over 45 sponsors and a small, but focused, group of exhibitors offering various solutions to the challenges faced … Read more
CALGARY, AB, Nov. 1, 2023 /CNW/ – Vermilion Energy Inc. (“Vermilion”, “We”, “Our”, “Us” or the “Company”) (TSX: VET) (NYSE: VET) is pleased to report operating and condensed financial results for the three and nine months ended September 30, 2023. The unaudited interim financial statements and management discussion and analysis for the three and nine months ended September 30, 2023 will … Read more
CALGARY, AB, Nov. 1, 2023 /CNW/ – Tourmaline Oil Corp. (TSX: TOU) (“Tourmaline” or the “Company“) is pleased to release financial and operating results for the third quarter of 2023. HIGHLIGHTS Third quarter cash flow(1)(2) of $878.5 million ($2.55 per diluted share(3)). Generated Q3 free cash flow(4) (“FCF“) of $332.3 million ($0.96 per diluted share) enabling the Company to declare a special dividend of $1.00 per common share paid … Read more
CALGARY — Fuel retailer Parkland Corp. says its third-quarter earnings more than doubled in 2023 thanks to favourable market conditions and the company’s ongoing efforts to optimize its Burnaby refinery.
The Calgary-based company reported net earning…
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Herbie: Fully Loaded, courtesy of Google Play Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE Back in 2019, at Tesla’s “Autonomy Day”, CEO Elon Musk told an excited crowd he anticipated that in just one year (meaning 2020), there would be “a million cars with full self-driving, software, everything”. Herbie and Transformers notwithstanding, fully-autonomous vehicles … Read more
TOPEKA, Kan. (AP) — The operator of the Keystone pipeline system has finished cleaning up a massive December 2022 oil spill, and the creek affected by it is flowing naturally again, the company and the U.S. Environmental Protection Agency say.
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CALGARY, Alberta, Oct. 31, 2023 (GLOBE NEWSWIRE) — Gran Tierra Energy Inc. (“Gran Tierra” or the “Company”) (NYSE American:GTE)(TSX:GTE)(LSE:GTE) is pleased to announce the appointment of Mr. Sebastien Morin as Chief Operating Officer (“COO”). Mr. Morin will be joining Gran Tierra as COO, located in Calgary and will report to Gary Guidry, President and Chief Executive Officer. … Read more
CALGARY, Alberta, Nov. 01, 2023 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to report its third quarter results highlighted by record Adjusted Funds Flow and Free Cash Flow, operational momentum at Leismer and execution on its return of capital commitment through share repurchases. Athabasca is uniquely positioned as … Read more
CALGARY, Alberta, Nov. 01, 2023 (GLOBE NEWSWIRE) — Prospera Energy Inc. (“Prospera” or the “Corporation“) (PEI: TSX-V; OF6A: FRA) In Q3 2023, Prospera was steadily recovering production rates that had been impacted by adverse weather in earlier quarters. During Q3 PEI attained gross peak rates of 770+ boe/d, with another 350 boe/d behind the pipe … Read more
Third Quarter 2023 Total Average WI Production of 33,940 BOPD, Up 12% from One Year Ago and Up 1% from Prior Quarter, Highest Quarterly Average Since Second Quarter 2019 Third Quarter 2023 Net Income of $7 Million, Funds Flow from Operations of $79 Million and Free Cash Flow of $36 Million Third Quarter 2023 Adjusted EBITDA of $119 Million and 12-Month Trailing … Read more
CALGARY, Alberta, Oct. 31, 2023 (GLOBE NEWSWIRE) — Essential Energy Services Ltd. (“Essential” or the “Company”) (TSX: ESN) announced today that the Company has received a positive recommendation from Institutional Shareholder Services (“ISS”) in support of the proposed acquisition of Essential by Element Technical Services Inc. (the “Acquisition”) announced on September 15, 2023. ISS is … Read more
By Brian Platt (Bloomberg) – As Canada’s major oil and gas producing province of Alberta expands its program to help Indigenous communities buy stakes in resource projects, its government is calling on Prime Minister Justin Trudeau not to exclude fossil fuels from a similar federal initiative. It was first reported last week that Trudeau’s cabinet … Read more
(Reuters) – Oil prices rose more than 1% on Wednesday ahead of the keenly watched meeting of the U.S. central bank for clues on interest rate policy, while the conflict in the Middle East remains in focus. Brent January crude futures were up about 1.1%, or 90 cents, to $85.92 a barrel by 1042 GMT. … Read more
SUMMARY A client in southeast Saskatchewan operates a carbon capture and underground storage (CCUS) facility, supplying anthropogenic CO2 for its enhanced oil recovery operation. With an existing infrastructure of wells and gathering system in-place, they turned select wells into CO2 injectors and reversed the respective flow lines to transport CO2 to each injector. The client … Read more
Energy Finance Professionals’ Best Practices to Drive Investment for Technology Like most energy companies, your organization has invested in technology that supports its core operations. But with the world’s landscape rapidly evolving and shifting, there’s a strong need to implement newer and complementary tools to existing systems that meet the demands of today’s challenges. If … Read more
By Jock Finlayson and Karen Graham Globally, the market for electric vehicles (EVs) is expanding rapidly. Last year, worldwide EV sales exceeded 10 million for the first time, representing 14 percent of all new vehicles purchased, up from less than 5 percent in the late 2010s. Rising EV market penetration reflects greater efficiency in EV … Read more
European governments are reassessing EU-directed green policies amid public unease By Shawn Logan Follow CEC on Linkedin CEC Linkedin Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Activists and coal opponents stand at the demolition edge of the Garzweiler II open pit lignite mine during a protest by climate activists after the clearance of the … Read more
Canadian Prime Minister Justin Trudeau ruled out any further carve-outs from the federal carbon tax scheme on Tuesday, amid mounting pressure from provinces seeking measures similar to an exemption on home heating oil announced last week. Trudeau’s Liberal government said it would pause the carbon levy on heating oil in Atlantic Canada for three years … Read more
REGINA — Saskatchewan’s natural gas utility could face hefty fines for not remitting the carbon tax to the federal government, and its executives may also face jail for failing to do so, federal legislation says.
Premier Scott Moe announced this week…
Learn More Here Since 1948, members of the Calgary Petroleum Club have been enjoying our private, world-class amenities, and all the benefits that come with it. It’s a place where you can indulge in fine food and make lasting connections with colleagues, industry associates as well as friends and family. Historically, membership was made … Read more
OTTAWA, ON: The Canadian Taxpayers Federation released estimates showing that extending the carbon tax pause to natural gas would save families about $1,100 over three years. “Families in Ontario and Western Canada are about to get hammered by the carbon tax this winter,” said Franco Terrazzano, CTF Federal Director. “Prime Minister Justin Trudeau could save … Read more
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