2 - 2024 - Canadian Energy News, Top Headlines, Commentaries, Features & Events

CES Energy Solutions Corp. announces strong fourth quarter and full year 2023 results with record revenue and adjusted EBITDAC and a 20% increase to its quarterly dividen

February 29, 2024 by EnergyNow Media

CALGARY, AB, Feb. 29, 2024 /CNW/ – CES Energy Solutions Corp. (“CES” or the “Company”) (TSX: CEU) (OTC: CESDF) is pleased to announce strong financial results for the three and twelve months ended December 31, 2023, along with a 20% increase to its quarterly dividend from $0.025 per share to $0.030 per share, which will be paid on the Company’s next scheduled dividend payment … Read more

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Indigenous Consultation & Engagement Atlantic 2026

Petrus Resources announces monthly activity update

February 29, 2024 by EnergyNow Media

CALGARY, Alberta, Feb. 29, 2024 (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 and … Read more

Athabasca Oil announces 2023 year-end results & reserves and plans to renew annual share buyback program

February 29, 2024 by EnergyNow Media

CALGARY, Alberta, Feb. 29, 2024 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to report its audited 2023 year-end results and reserves. Athabasca provides investors unique positioning to top tier liquids weighted assets (Thermal Oil and Duvernay) with a capital allocation framework aimed at maximizing cash flow per share growth and … Read more

Canada to Expedite Approval of New Nuclear Projects, Energy Minister Says

February 29, 2024 by EnergyNow Media

Canada will expedite the approval process for new nuclear projects, but will not exclude them from the federal environmental review as requested by the province of Ontario, Energy and Natural Resources Minister Jonathan Wilkinson said. All new major projects in Canada, including nuclear reactors, have to be reviewed under the Impact Assessment Act (IAA), which … Read more

A MUST WATCH: How Much Energy Will the World Need? – Let’s Compare Political “Dream” to Energy “Reality” – Mark Mills

March 2, 2024February 29, 2024 by EnergyNow Media

Are we heading toward an all-renewable energy future, spearheaded by wind and solar? Or are those energy sources wholly inadequate for the task? Mark Mills, Senior Fellow at the Manhattan Institute and author of The Cloud Revolution, compares the energy dream to the energy reality.

Crescent Point announces 2023 results & reserve

February 29, 2024 by EnergyNow Media

CALGARY, AB, Feb. 29, 2024 /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 year ended December 31, 2023. KEY HIGHLIGHTS Transformed portfolio, increasing premium inventory to over 20 years and enhancing excess cash flow profile. Replaced over 900 … Read more

Crescent Point Energy Reports Q4 profit, Raises Quarterly Dividend 15%

February 29, 2024February 29, 2024 by The Canadian Press

CALGARY — Crescent Point Energy Corp. raised its quarterly base dividend by 15 per cent as it reported fourth-quarter net income of $951.2 million compared with a loss of $498.1 million a year earlier.
The company says it will now pay a quarterly base…

Apple’s Electric-Vehicle Wind Down Offers Reprieve to Tesla, Detroit Rivals

February 29, 2024 by EnergyNow Media

Automakers now have one fewer competitor to worry about in a crowded and uncertain arena Bloomberg News The sudden demise of Apple Inc.’s electric-vehicle program is a bleak sign for the car market. It’s also a welcome boon for automakers themselves. Apple Pulls Plug on Electric Car Plans Apple Inc. is canceling a decade-long effort to build an … Read more

Oil Producers May Not Share Analysts’ Views of a Tighter Market

February 29, 2024 by EnergyNow Media

The disruption in the Red Sea has pushed the amount of crude in transit to a six-month high. Oil analysts and executives from across the industry are starting to sound more upbeat than they have for a while at International Energy Week in London. Speakers at events taking place around the main conference painted a picture of … Read more

Canadian Natural Resources Reports Q4 Profit Up, Raises Quarterly Dividend

February 29, 2024February 29, 2024 by The Canadian Press

CALGARY — Canadian Natural Resources Ltd. raised its quarterly dividend as it reported a fourth-quarter profit of $2.63 billion, up from $1.52 billion a year earlier.
The company says it will now make a quarterly payment to shareholders of $1.05 per s…

Oil Prices Expected to Remain Tethered Near $80 a Barrel

February 29, 2024 by EnergyNow Media

Summary OPEC+ expected to make a decision in March on output cuts Spare capacity at multi-year highs- analyst For table of crude price forecasts, click Feb 29 (Reuters) – Analysts were less bullish on oil in February for a fourth straight month, with ample supplies seen holding prices near $80 a barrel this year as … Read more

Oil Prices Steady as Market Awaits Interest Rate Cues

February 29, 2024 by EnergyNow Media

PCE price index expected to be released at 1330 GMT U.S. crude stockpiles build for fifth straight week Market eyes potential extension to OPEC+ supply cuts LONDON, Feb 29 (Reuters) – Oil prices were little changed Thursday as investors kept their powder dry ahead of U.S. data expected to offer further clues on the outlook … Read more

Shell’s U.S. Solar Unit Launches Asset Sale

February 29, 2024 by EnergyNow Media

(Reuters) – Shell’s U.S. solar business Savion has put around a quarter of its assets up for sale, according to a marketing document and industry sources, as the oil major extends a retreat from owning renewables projects under CEO Wael Sawan. Investment bank Jefferies is running the sale of up to 10.6 gigawatts (GW) of solar generation … Read more

NuVista Energy Ltd. Announces Record Year End 2023 Reserves, Financial and Operating Results

February 29, 2024 by EnergyNow Media

CALGARY, Alberta, Feb. 29, 2024 (GLOBE NEWSWIRE) — NuVista Energy Ltd. (“NuVista” or the “Company“) (TSX: NVA) is pleased to announce record-setting reserves and strong financial and operating results for the three months and year ended December 31, 2023. The results of our 2023 program underscore the quality and predictability of our asset base, and the … Read more

Enerflex Ltd. Reports Fourth Quarter 2023 Financial and Operational Results

February 29, 2024 by EnergyNow Media

ADJUSTED EBITDA OF $126 MILLION AND $185 MILLION OF FREE CASH FLOW ENGINEERED SYSTEMS BACKLOG OF $1.5 BILLION PROVIDES SOLID VISIBILITY FOR 2024 REPAID $167 MILLION OF DEBT AND REDUCED NET DEBT-TO-EBITDA RATIO1 TO 2.3 TIMES AT YEAR END CALGARY, Alberta, Feb. 28, 2024 (GLOBE NEWSWIRE) — Enerflex Ltd. (TSX: EFX) (NYSE: EFXT) (“Enerflex” or … Read more

New Brunswick’s Natural Gas Opportunity—Separating Fact From Fiction – Fraser Institute

February 29, 2024February 29, 2024 by EnergyNow Media

By Alex Whalen Recent news of a merger between Southwestern Energy, which holds shale gas exploration licences in New Brunswick, and energy giant Chesapeake have rekindled a long-standing debate about natural gas in the province. In fact, the topic was a focal point in Premier Higgs’ recent State of the Province address. Natural gas development often relies on … Read more

Canadian Natural Resources Limited Announces 2023 Fourth Quarter and Year End Results

February 29, 2024 by EnergyNow Media

Calgary, Alberta–(Newsfile Corp. – February 29, 2024) – Highlighting a successful 2023, Canadian Natural’s (TSX: CNQ) (NYSE: CNQ) Chief Financial Officer, Mark Stainthorpe, stated “Through the Company’s effective and efficient operations and disciplined capital allocation, we achieved our net debt level of $10 billion in Q4/23, earlier than previously forecasted. As per our free cash … Read more

Western Energy Services Corp. releases fourth quarter and year end 2023 financial and operating results, reducing debt by $17 million in 2023

February 29, 2024 by EnergyNow Media

CALGARY, AB, Feb. 28, 2024 /CNW/ – Western Energy Services Corp. (“Western” or the “Company”) (TSX: WRG) announces the release of its fourth quarter and year end 2023 financial and operating results, reducing debt by $17 million in 2023. Additional information relating to the Company, including the Company’s financial statements and management’s discussion and analysis as at and for … Read more

Micronuclear: Where Size Really Matters – ENERGYminute

February 29, 2024 by EnergyNow Media

The town of Iqaluit, courtesy of Nunavut News Reliability is king when it comes to producing electricity and heat in the north—not just Canada north, Arctic “beyond the wall” north. Today, that reliability is almost exclusively supplied by diesel with few (if any) substitutes. While the world continues to think big on energy innovation, the solution for … Read more

Pason reports fourth quarter 2023 results and declares increased quarterly dividend

February 29, 2024 by EnergyNow Media

CALGARY, AB, Feb. 28, 2024 /CNW/ – Pason Systems Inc. (“Pason” or the “Company”) (TSX: PSI) announced today its 2023 fourth quarter and annual results and the declaration of an increased quarterly dividend. The following news release should be read in conjunction with the Company’s Management Discussion and Analysis (“MD&A”), the Consolidated Financial Statements and related notes … Read more

Alberta’s Energy Road Ahead Has Never Been More Important: Brian Jean – Minister of Energy and Minerals of Alberta

February 29, 2024February 29, 2024 by EnergyNow Media

by Brian Jean – Minister of Energy and Minerals of Alberta Recently I had the opportunity to speak at The Road Ahead, Alberta Energy 2024, presented by EnergyNow at the Calgary Petroleum Club. The road ahead for Alberta in 2024 is an important one. Alberta is at the crossroads on many key energy issues which I … Read more

Panel Upholds Alberta Regulator’s Orders Against Embattled Energy Company

February 29, 2024February 29, 2024 by The Canadian Press

CALGARY — A hearing panel for Alberta’s energy regulator has upheld two orders against a company that had thousands of inactive oil and gas wells seized last year.
The regulator transferred control of more than 6,000 wells, pipeline segments and other…

Schachter’s Eye on Energy: OPEC Discussing Extending Its Production Cuts For One More Quarter Lifts Crude Prices Modestly.

February 29, 2024 by EnergyNow Media

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 37 energy, energy service and pipeline & infrastructure companies with regular quarterly updates. We also hold quarterly webinars and provide Action … Read more

Problem Solved: Trans Mountain Says It Has Successfully Removed a Pipe From Final Expansion Section

February 29, 2024February 29, 2024 by EnergyNow Media

Reuters Trans Mountain Corp, the Canadian government-owned oil pipeline company, said on Wednesday it successfully removed a pipe from the final section of an expansion project that will nearly triple the flow of crude from Alberta to the Pacific Coast. The expanded pipeline’s anticipated in-service date continues to be in the second quarter of 2024, … Read more

Alberta Rural Municipalities say $43M in Energy Industry Taxes Went Unpaid Last Year

February 29, 2024February 29, 2024 by The Canadian Press

Alberta’s rural municipalities say some energy companies are still failing to pay millions of dollars in taxes.
A survey from Rural Municipalities of Alberta says oil and gas producers missed $43 million in payments last year.
The association says tha…

Freehold Royalties announces fourth quarter and full year 2023 results, reserves and guidance for 2024

February 28, 2024 by EnergyNow Media

CALGARY, Alberta, Feb. 28, 2024 (GLOBE NEWSWIRE) — Freehold Royalties Ltd. (Freehold or the Company) (TSX:FRU) announces fourth quarter and year-end results for the period ended December 31, 2023. President’s Message Freehold showcased the strength of our unique North American portfolio in 2023, with exposure to a stable production base in Canada, and growing oil weighted … Read more

Freehold Royalties announces fourth quarter and full year 2023 results, reserves and guidance for 2024

February 28, 2024 by EnergyNow Media

February 28, 2024 CALGARY, Alberta, Feb. 28, 2024 (GLOBE NEWSWIRE) — Freehold Royalties Ltd. (Freehold or the Company) (TSX:FRU) announces fourth quarter and year-end results for the period ended December 31, 2023. President’s Message Freehold showcased the strength of our unique North American portfolio in 2023, with exposure to a stable production base in Canada, and growing … Read more

Baytex Announces Fourth Quarter and Full Year 2023 Financial and Operating Results and Year End Reserves

February 28, 2024 by EnergyNow Media

Calgary, Alberta–(Newsfile Corp. – February 28, 2024) – Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) (“Baytex”) reports its operating and financial results for the three months and year ended December 31, 2023 (all amounts are in Canadian dollars unless otherwise noted). “Our 2023 results demonstrate the strength of our oil-weighted portfolio. The strategic acquisition of … Read more

Alberta Set to Ban Renewables Projects on Prime Land

February 28, 2024February 28, 2024 by EnergyNow Media

Alberta, a province that produces four-fifths of Canada’s crude oil, is expected to ban the hosting of renewable power projects on prime land under a new raft of rules, according to a report in The Globe and Mail newspaper on Wednesday. The changes to rules, set to be announced by Alberta Premier Danielle Smith and … Read more

Oil Falls 1% on Fed Rate Cut Caution and Stocks Build

February 28, 2024 by EnergyNow Media

Summary Federal Reserve appears in no rush to cut interest rates U.S. crude inventories rise OPEC+ to consider extending supply curbs (Reuters) – Oil prices pulled back on Wednesday as the prospect of delays to U.S. interest rate cuts and a jump in U.S. crude stocks that trounced expectations offset a boost from a potential … Read more

India’s Coal Sector Sees Huge Leaps in Output and Demand

February 28, 2024 by EnergyNow Media

(Reuters) – India’s coal sector is united about one thing. It doesn’t matter if you are a miner, trader, utility or steelmaker, you are bullish, extremely bullish. The overarching theme at this week annual Coaltrans India conference in the western state of Goa is that coal production, imports and demand are all going to rise … Read more

Global LNG Demand Seen Rising in 2024 From China, Europe – TotalEnergies Exec Says

February 28, 2024 by EnergyNow Media

examining global lng markets in 2035 front view of an lng tanker ship 1200x810

Global liquefied natural gas (LNG) demand will grow in 2024 with top buyer China back in the market and consumption in Europe rising, a TotalEnergies executive said on Wednesday. “LNG has continued to grow, with China being back in the market but not yet at the level of 2021,” Senior Vice President Asia Pacific Exploration & … Read more

Tamarack Valley Energy announces year-end 2023 financial & reserve results, Clearwater resource evaluation and provides operational and guidance updateincluding executive appointment

February 28, 2024 by EnergyNow Media

CALGARY, AB, Feb. 28, 2024 /CNW/ – Tamarack Valley Energy Ltd. (“Tamarack” or the “Company“) (TSX: TVE) is pleased to announce its audited financial and operating results for the three months and year ended December 31, 2023 and the results of Tamarack’s year-end independent oil and gas reserves evaluations as of December 31, 2023 (the “Reserve Reports”), prepared by Tamarack’s independent qualified reserves … Read more

Obsidian Energy Announces Operational Update with Strong Start to 2024 Capital Program

February 28, 2024 by EnergyNow Media

Latest Pembina four-well pad produced at peak rate of over 2,000 boe/d at top end of expectations Continued robust Viking performance with 2023 eight-well pad producing at rates over 1,300 boe/d Nampa Clearwater well producing at strong early rates with superior oil quality Calgary, Alberta–(Newsfile Corp. – February 28, 2024) – OBSIDIAN ENERGY LTD. (TSX: OBE) … Read more

LNG Demand Will Surge 50% in Next Decade, Woodside CEO Says

February 28, 2024February 28, 2024 by EnergyNow Media

Australia’s top producer continues to study projects and M&A US pause on export project approvals is ‘concerning signal’ Woodside Energy Group Ltd., Australia’s top liquefied natural gas exporter, expects consumption of the fuel to rise 50% over the next decade, pushing the supplier to consider further expansions. “We’re seeing signs of that demand growth … Read more

COMMENTARY: Climate Change on Trial – Climate Had Its Day in Court – Deidra Garyk

March 1, 2024February 28, 2024 by EnergyNow Media

by Deidra Garyk A very important court case went on in Washington, DC over the past few weeks. You may not have heard because there was not much talk about it in the legacy news until the verdict was read. Fortunately, a daily podcast series “Climate Change on Trial” by Unreported Story Society documented it … Read more

The Latest Digital Bludgeon With Which To Beat Up Oil and Gas – Geoffrey Cann

February 28, 2024February 28, 2024 by EnergyNow Media

By Geoffrey Cann A brand new digital bludgeon whose nearly sole purpose is to beat up on the oil and gas industry, is about to be launched. As usual, this is both bad and good news. The Methane Problem For years, human produced industrial methane was overlooked as a meaningful contributor to climate change. Far more attention was paid … Read more

Managing Land Data with Integrated Software Allows Energy Companies to Work Smarter, Not Harder

February 28, 2024 by EnergyNow Media

Integrated Land Management & GIS Software Achieves More Accurate Asset Analysis Your energy company strives for more accurate land asset analysis using overlapping manual and digital processes. Land departments juggle data in many forms: legacy or homegrown systems, spreadsheets, maps, photos, and lots of paper. Poor data management directly affects your team’s time and drives … Read more

Kathairos Solutions and Doig River First Nation Embark on Strategic Environmental Initiative to Reduce Methane Emissions

February 28, 2024 by EnergyNow Media

[Calgary, 27/02/2024] – Kathairos Solutions, a leader in the field of clean technology for methane emission reduction, is excited to announce a strategic partnership with Doig River First Nation (DRFN) and its economic arm, Úújǫ Developments LP. This collaboration is set to pioneer sustainable environmental practices while fostering economic growth and cultural preservation within DRFN … Read more

Crude-by-Rail Shipments Jumped in Last Half of 2023 as Alberta’s Oil Output Grows

February 28, 2024February 28, 2024 by The Canadian Press

CALGARY — New data from the Canada Energy Regulator shows Canadian crude-by-rail shipments nearly doubled in volume in the last six months of 2023.
Oil-by-rail export volumes jumped from 78,747 barrels per day in May of last year to 157,142 in Decembe…

Indigenous-Owned LNG Projects in Jeopardy With Proposed Emissions Cap, Leaders Warn

February 28, 2024February 28, 2024 by EnergyNow Media

‘It’s like we’re finally at the table and we’re having to fight to keep our seat at the table’ By Cody Ciona Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A proposed cap on oil and gas emissions will threaten opportunities for Indigenous communities to bring cleaner alternatives … Read more

Trans Mountain Pipeline Sees Second Quarter Service Date and Another 10% Higher Cost

February 28, 2024February 28, 2024 by EnergyNow Media

Trans Mountain Corp, the Canadian government-owned oil pipeline company, continues to target a second-quarter in-service date for its expansion and expects the project’s cost to rise 10%, according to a filing. Trans Mountain said in the filing on Monday to the Canada Energy Regulator, however, that commencement for firm service contracts with shippers is May … Read more

CAPP Forecasts Capital Investment for Canadian Oil and Natural Gas Sector to Reach $40.6 Billion in 2024

February 28, 2024February 28, 2024 by EnergyNow Media

February 27, 2024 (Calgary, Alberta) – The Canadian Association of Petroleum Producers (CAPP) is forecasting capital expenditures for the upstream oil and natural gas sector will reach $40.6 billion in 2024, rising slightly from an estimated actual investment of $39 billion for 2023. “Upstream oil and natural gas producers are staying disciplined, with capital expenditures … Read more

Oil and Gas Upstream M&A Deal Value Hits Highest Q1 Levels Since 2017

February 28, 2024February 28, 2024 by EnergyNow Media

An ongoing consolidation in the U.S. shale industry has driven up global M&A deal value in the oil and gas exploration sector to its highest first-quarter level in seven years, industry experts said. Deals worth more than $55 billion have been announced in the first two months of 2024, according to analytics firm Enverus, as … Read more

COMMENTARY: TMX as a Project in the National Interest Validated by U.S. Energy Importer Analysis – Margareta Dovgal, Resource Works

February 28, 2024February 28, 2024 by EnergyNow Media

go electric bc hang on a minute resource works margareta dovgal 400x270

Margareta Dovgal looks at the benefits of the expansion of the Trans Mountain pipeline system. By Resource Works More News and Views From Resource Works Here The Trans Mountain pipeline expansion project is 97% complete, and is expected to open in the second quarter of the year. That means it soon will be carrying more … Read more

Ovintiv reports fourth quarter and year-end 2023 financial and operating results

February 27, 2024 by EnergyNow Media

Strong 2023 Operational Execution; Enhanced Capital Efficiency Expected in 2024 Highlights: Full Year 2023 Generated net earnings of $2.1 billion, cash from operating activities of $4.2 billion, Non-GAAP Cash Flow of $3.9 billion and Non-GAAP Free Cash Flow of $1.2 billion after capital expenditures of $2.7 billion Exceeded high end of full year production guidance … Read more

Parkland Corp. sees earnings rise in fourth quarter despite lower sales

February 27, 2024February 27, 2024 by The Canadian Press

CALGARY — Parkland Corp. says it earned $86 million in its fourth quarter, up from $69 million a year earlier.
The Calgary-based company says earnings per diluted share were 48 cents, up from 39 cents during the same quarter the year before.
Sales an…

Indigenous Resource Network (IRN) Announces New Board Members

February 28, 2024February 27, 2024 by EnergyNow Media

Calgary, AB – The Indigenous Resource Network is excited to announce three new board members adding depth to the organization’s capacity, including new areas across Canada such as Eastern and Central Canada and Canada’s northern communities. The additions also add further depth within all resource development sectors. “IRN is a national organization with board representation from … Read more

Oil Heavyweights Take Aim at Biden’s LNG Permitting Freeze

February 27, 2024 by EnergyNow Media

Six groups join American Petroleum Institute to seek hearing Move comes as Qatar announces plans for major new LNG project Top oil industry lobbying groups set the stage for a potential lawsuit challenging the Biden administration’s pause in approving new liquefied natural gas exports. In a petition filed Monday with the Energy Department, the American Petroleum Institute and six other groups … Read more

Russia Bans Gasoline Exports for 6 Months From March 1

February 27, 2024 by EnergyNow Media

Summary Russia to ban gasoline exports from March 1 PM Mishustin has approved the ban Gasoline prices are sensitive ahead of election MOSCOW, Feb 27 (Reuters) – Russia on Tuesday ordered a six-month ban on gasoline exports from March 1 to keep prices stable amid rising demand from consumers and farmers and to allow for … Read more

Oil Prices Steady as Investors Weigh up Gaza Ceasefire Signals

February 27, 2024 by EnergyNow Media

(Reuters) – Oil prices were largely stable on Tuesday, as investors weighed up signals of a Gaza ceasefire against the reality on the ground in the Middle East. Brent crude futures fell 10 cents, or 0.12%, to $82.43 a barrel by 0923 GMT, while U.S. West Texas Intermediate crude futures (WTI) were down 7 cents, … Read more

Supreme Court Dismisses Secure Energy’s Application to Appeal the Successful Challenge of Secure and Tervita Merger

February 27, 2024 by EnergyNow Media

GATINEAU, QC, Feb. 26, 2024 /CNW/ – The Competition Bureau welcomes the Supreme Court of Canada’s (SCC) decision to dismiss an application by Secure Energy seeking leave to appeal the Bureau’s successful challenge of the merger of two rival suppliers of oilfield waste services. Secure’s application looked to overturn a decision of the Federal Court of Appeal in August 2023 upholding the March 2023 decision … Read more

Qatar’s New LNG Expansion Plans to Squeeze Out US, Other Rivals

February 27, 2024 by EnergyNow Media

40 year export license granted to indigenous owned canadian lng project 1200x810

Qatar’s planned expansion of liquefied natural gas (LNG) production could see it control nearly 25% share of the global market by 2030 and squeeze out rival projects including in the United States where President Biden paused new export approvals, market experts say. Qatar, one of the world’s top LNG exporters, plans an 85% expansion in … Read more

Irving Oil President to Step Down as Company Undergoes Strategic Review

February 27, 2024February 27, 2024 by The Canadian Press

FREDERICTON — The president of Irving Oil is stepping down as the company undergoes a strategic review that includes the possible sale of the business.
A news release Monday said Ian Whitcomb has made a “personal decision” to leave after more than eig…

The Trans Mountain Pipeline Expansion: Who Wins, Who Loses and How Did We Get Here?

February 27, 2024February 27, 2024 by EnergyNow Media

More than a decade in the making, the $30-billion project could be a game-changer for Canadian oil Author of the article: Naimul Karim See This Article and More Energy Articles in the Financial Post The Trans Mountain pipeline expansion project may still be months away from completion, but industry insiders have already started speculating on how … Read more

Low Emissions, Indigenous-Owned Cascade Power Project to Boost Alberta Electrical Grid Reliability

February 27, 2024February 27, 2024 by EnergyNow Media

New 900-megawatt natural gas-fired facility to supply more than eight per cent of Alberta’s power needs By Will Gibson Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter The Cascade Power Project. Photo courtesy Kinetcor Alberta’s electrical grid is about to get a boost in reliability from a major new … Read more

U.S. Takes Lead as Top Supplier to Europe for Crude, Diesel and LNG

February 26, 2024 by EnergyNow Media

By Deep Kaushik Vakil LONDON, Feb 26 – The United States has taken the top spot as Europe’s supplier of crude oil, diesel, and liquefied natural gas (LNG) in recent months, capitalising on reduced imports from east of Suez caused by shipping disruptions in the Red Sea. “The U.S. is in top position on basically … Read more

Spartan Delta Corp. announces 2023 year-end results, reserves and updated guidance for 2024

February 27, 2024February 26, 2024 by EnergyNow Media

CALGARY, AB, Feb. 26, 2024 /CNW/ – Spartan Delta Corp. (“Spartan” or the “Company“) (TSX: SDE) is pleased to report its financial and operating results for the fourth quarter and year ended December 31, 2023, highlights of the Company’s year-end reserves evaluation, as well as updated guidance for 2024. Selected financial and operational information is set out below and should … Read more

U.S. Gas Glut Gets Hedge Funds Ultra Bearish

February 26, 2024 by EnergyNow Media

Commentary By John Kemp LONDON, Feb 26 (Reuters) – Portfolio investors have become extremely bearish about the outlook for U.S. gas prices, even though prices have already fallen to their lowest level in real terms since futures began trading in 1990. Hedge funds and other money managers sold the equivalent of 399 billion cubic feet … Read more

SECURE announces 2023 fourth quarter and year-end results

February 26, 2024 by EnergyNow Media

Achieved record Q4 Adjusted EBITDA1 of $162 million ($0.56/basic share1) and $590 million Adjusted EBITDA in 2023 ($1.99/basic share) Delivered $0.95/basic share1 in shareholder returns through dividends and share repurchases in 2023 Repurchased 3.5% of outstanding shares under the renewed NCIB that commenced in December 2023 Closed $1.150 billion asset sale to Waste Connections, Inc., on February 1, 2024, satisfying the requirements of the Competition Tribunal divestiture … Read more

Obsidian Energy announces launch of an offer to purchase up to $2.0 million of our outstanding senior unsecured notes

February 26, 2024 by EnergyNow Media

Calgary, Alberta–(Newsfile Corp. – February 26, 2024) – OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) today announced that we have commenced an offer (the “Offer“) to purchase for cash, up to an aggregate amount of $2.0 million (the “Maximum Purchase Consideration“) of our outstanding 11.95 percent Senior Unsecured … Read more

SECURE Announces CEO Retirement

February 26, 2024 by EnergyNow Media

Rene Amirault to retire as Chief Executive Officer effective May 1, 2024 Allen Gransch, President, to be appointed his successor CALGARY, AB, Feb. 26, 2024 /CNW/ – SECURE Energy Services Inc. (“SECURE” or “the Corporation”) announced today that Rene Amirault will be retiring from his role as Chief Executive Officer as of May 1, 2024. Mr. Amirault intends to remain on SECURE’s Board of … Read more

i3 Energy PLC announces Q4 2023 operational and financial update

February 26, 2024 by EnergyNow Media

Q4 2023 Operational and Financial Update EASTLEIGH, UK / ACCESSWIRE / February 26, 2024 /i3 Energy plc (AIM:I3E)(TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, is pleased to announce the following Q4 2023 operational and financial update. Highlights: 2023 annual average production of 20,711 barrels of oil equivalent … Read more

Helium Evolution Provides Operations Update Featuring Preliminary Production Test Data from Two Helium Discovery Wells

February 26, 2024 by EnergyNow Media

CALGARY, Alberta, Feb. 26, 2024 (GLOBE NEWSWIRE) — 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 provide an operational update on three Mankota-area wells in which the Company maintains a 20% working interest alongside HEVI’s partner and the operator, North American … Read more

Oil Extends Losses on Cautious Interest Rate Outlook

February 26, 2024 by EnergyNow Media

Summary Likelihood of imminent U.S. interest rate cut fades Talks on Gaza-Israel ceasefire appear to progress Goldman Sachs predicts summer peak oil price at $87 a barrel (Reuters) – Oil prices fell on Monday, extending losses on market views that higher than expected inflation could delay cuts to high interest rates that have been capping … Read more

Nine Major Insights From Shell’s Latest Global LNG Outlook

February 26, 2024February 26, 2024 by EnergyNow Media

Led by growing demand in China and the need for energy security, LNG is playing an increasingly important role in global gas supply By Deborah Jaremko Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A worker at Shell’s Hazira LNG import terminal, about 250 kilometers from Mumbai, India. Photo … Read more

Biden Has Just a Few Months Left to Lock In His Climate Initiatives Before Election

February 26, 2024 by EnergyNow Media

The window to finalize vehicle and power plant regulations so they’re less vulnerable to Republican repeal will close before the summer. Across the nation’s capital, federal regulators are in an all-out sprint, racing to finalize Biden administration climate initiatives touching everything from the cars Americans drive to the appliances they use. The finish line is approaching fast: … Read more

Denmark Drops Nord Stream Blast Probe Without Criminal Case

February 26, 2024 by EnergyNow Media

Decision follows similar move in Sweden earlier this month Authorities had concluded ‘deliberate sabotage’ took place Denmark gave up on an investigation into the explosions that in 2022 ruptured the Nord Stream natural gas pipelines just outside its territorial waters, following a similar decision in neighboring Sweden earlier this month. Danish authorities concluded there was … Read more

Qatar Has Eyes on More Long-Term Deals as It Bets Big on LNG

February 26, 2024 by EnergyNow Media

Producer is planning major capacity expansion by end of decade Nation is looking to secure more deals in Asia and Europe LNG exports are Qatar’s biggest revenue earner. Qatar is seeking more gas deals in Europe and Asia in a bet demand will continue to grow as it embarks on a new multibillion-dollar project to … Read more

Goldman Sachs Lifts its Brent Summer Peak Forecast to $87 a Barrel

February 26, 2024 by EnergyNow Media

Goldman Sachs raised its summer 2024 Brent peak forecast by $2 a barrel to $87 as disruptions in the Red Sea contribute to modestly larger-than-expected draws in OECD commercial stocks, the bank said in a note dated Sunday. “OECD commercial stocks on land have drawn somewhat faster than expected as the redirection of flows away … Read more

Top Global Energy Traders Face Multi-Billion Cash Investment Quandary as Poor Returns in Solar, Wind and Hydrogen Irk Investors

February 26, 2024 by EnergyNow Media

As the world’s top global energy trading houses prepare for their biggest annual industry get-together this week in London they face a growing problem, what to do with their cash. Most trading houses, which are privately owned and controlled by their employees, disclose little about their cash position, equity or dividends. But according to more … Read more

Calfrac Well Services Ltd. 2023 Fourth Quarter Earnings Release, Conference Call and Webcast

February 26, 2024 by EnergyNow Media

$Calfrac Logo Feature$

CALGARY, Alberta, Feb. 26, 2024 (GLOBE NEWSWIRE) — Calfrac Well Services Ltd. (“Calfrac”) (TSX:CFW) intends to release its 2023 fourth quarter results before the market opens on Thursday, March 14, 2024, and has scheduled a conference call to begin at 10:00 A.M. MT (12:00 P.M. ET) on the same day. To participate in the conference … Read more

How Digital Post Job Inspections Can Reduce Repair Costs

February 26, 2024 by EnergyNow Media

After several years of recovery, a recent forecast from Baker Hughes predicted a single digit slow down for 2024 in Oil Field Services spending in North America. OFS companies will likely face increasing price pressures which will place even more focus on operational efficiency to drive return on assets. Equipment maintenance is a critical component … Read more

Construction Shifts into High Gear on SMRs – ENERGYminute

February 26, 2024February 26, 2024 by EnergyNow Media

Courtesy of Interesting Engineering Not since Michael Scott said Webster’s defined a wedding as “the fusing of two hot metals with a hot torch” has welding been so exciting. What happened: The world of nuclear power is abuzz with excitement as UK-based Sheffield Forgemasters achieves a remarkable milestone: the welding of a full-size nuclear reactor vessel in just under 24 … Read more

Westech Industrial Announces Partnership with Qmicro for Revolutionary Gas Chromatograph Products in Canada

November 19, 2024February 26, 2024 by EnergyNow Media

Westech Industrial Ltd., a leading provider of industrial equipment and services, is thrilled to announce a partnership with Qmicro, the renowned manufacturer of advanced gas chromatograph systems. This partnership marks a significant milestone in Westech Industrial’s mission to bring cutting-edge analytical solutions to the Canadian market. Under this agreement, Westech Industrial will distribute Qmicro’s innovative … Read more

Buffalo Inspection Services – Non-Destructive Examination Services: See Them Here

February 26, 2024 by EnergyNow Media

WE ARE A FULL SERVICE NDE PROVIDER DOWNLOAD FULL BROCHURE HERE Buffalo Inspection Services is a CWB 178.1 registered company that covers buildings, industrial structures, machinery, cranes, rail and road vehicles, pipelines and piping. We are supported by certified inspection personnel that can be deployed for all your inspection needs and maintain a full time … Read more

Hydrogen Production Water Management: Understanding the Challenges

February 26, 2024 by EnergyNow Media

Idea in Principle This paper underscores the critical importance of water management in hydrogen production. In principle, it highlights the need for a comprehensive approach to address water challenges, including sourcing, cooling, treatment, and wastewater management. Idea in Practice In practice, implementing comprehensive water management strategies presents a complex and location-specific challenge. This paper highlights … Read more

Five things to watch for in the Canadian business world in the coming week

February 26, 2024February 26, 2024 by The Canadian Press

TORONTO — Five things to watch for in the Canadian business world in the coming week:
Cargojet results
Cargojet Inc. will report its fourth-quarter results and hold a conference call with investors before markets open on Monday. The report comes after…

Now What? Major BC Projects Wrap Up, Posing Questions on Future Job Prospects and Investments

February 26, 2024February 26, 2024 by EnergyNow Media

More News and Views From Resource Works Here Northern British Columbia is at a crossroads as several major, job-producing projects wind down. BC communities and First Nations, particularly in the North, are increasingly concerned about job and revenue prospects as major projects near completion, and start reducing employment. The pressing questions are: Will new projects … Read more

Pembina Pipeline Deferring Cedar LNG Decision Until Mid-Year

February 26, 2024February 26, 2024 by The Canadian Press

CALGARY — Pembina Pipeline Corp. says it will defer making a final investment decision on its proposed Cedar LNG project until mid-2024.
The Calgary-based pipeline company and its project partner, the Haisla First Nation, have been working to develop …

Indigenous Loan Program Could Pave the Way for More Natural Resource Economy Ownership

February 26, 2024February 26, 2024 by EnergyNow Media

Resource Works More News and Views From Resource Works Here Ottawa has promised a loan program for Indigenous communities to buy equity stakes in natural resource projects, but many questions are still unanswered. Ottawa is currently under scrutiny as it prepares to incorporate an Indigenous loan-guarantee program into its 2024-2025 budget, aimed at assisting Indigenous … Read more

Ford Stops Shipping Electric F-150 Pickup Due to Quality Issue

February 24, 2024 by EnergyNow Media

Ford Motor Co. has halted shipments of its F-150 Lightning plug-in pickup for an undisclosed quality issue just weeks after cutting production of the battery-powered model due to slowing sales. The automaker said in a statement late Friday it stopped shipping the Lightning on Feb. 9 “to ensure quality.” It did not say when it expects to resume delivering the … Read more

Oil Ends Lower, Posts Weekly Decline as U.S. Rate Cut Hopes Dim

February 24, 2024 by EnergyNow Media

Summary Fed governor sees ‘no rush’ to cut interest rates Gaza ceasefire talks underway in Paris US oil rig count up six in biggest weekly hike since November (Reuters) – Oil prices fell nearly 3% lower on Friday and posted a weekly decline after a U.S. central bank policymaker indicated interest rate cuts could be … Read more

COMMENTARY: The Case for EV Freedom – Let Them Compete and Grow on a Free Market – Alex Epstein

February 24, 2024 by EnergyNow Media

Government should remove all preferences for EVs and allow them to compete and grow on a free market. By Alex Epstein Government should remove all preferences for electric vehicles and allow them to compete and grow on a free market. This will enable EVs to reach their full potential to provide affordable, no-tailpipe-emissions transport without … Read more

‘Deeply Unfair’: Ottawa Reduces Carbon Tax Rebates for Small Businesses to Increase Rebates for Others

February 24, 2024 by EnergyNow Media

Doing so to increase reimbursement to rural families The Canadian Press OTTAWA — The federal government is cutting the amount of financial relief small businesses will receive from carbon tax revenues so it can increase the size of the rebate it is providing to rural families.That’s despite the fact the government still owes businesses more than … Read more

Suncor Looks to Cut High Oil Sands Mine Operating Costs

February 24, 2024February 24, 2024 by EnergyNow Media

Suncor Energy, Canada’s second-largest oil producer, will focus this year on cutting operating costs in its oil sands mining business, CEO Rich Kruger said on Thursday, as the company continues efforts to fix long-running underperformance. Calgary-based Suncor is trying to improve safety and efficiency after a string of fatalities at oil sands sites in recent … Read more

Strategic Clarity Fuels Oil Giants’ M&A Spree

February 24, 2024February 24, 2024 by EnergyNow Media

mergers and acquisitions 1200x810 jan 2023

(The authors are Reuters Breakingviews columnists. The opinions expressed are their own.) By George Hay and Yawen Chen (Reuters Breakingviews) – U.S. and European oil giants sell the same product in the same global market. But they are on diverging paths. While American groups like Exxon Mobil and Chevron are buying up smaller drillers, their European rivals such … Read more

U.S. Drillers Add Oil and Gas Rigs For Second Time in Three Weeks – Baker Hughes

February 24, 2024February 24, 2024 by EnergyNow Media

Feb 23 (Reuters) – U.S. energy firms this week added the most oil rigs since November, and the most in a month since October 2022, energy services firm Baker Hughes BKR.O said in its closely followed report on Friday. The combined oil and gas rig count, an early indicator of future output, rose by five … Read more

Indigenous Resource Network Applauds BC First Nations Equity Financing Framework

February 23, 2024 by EnergyNow Media

Calgary, AB – The Indigenous Resource Network is excited to see BC taking the next step in providing equity tools for Indigenous ownership in resource projects with the introduction of provincial equity loan guarantees in BC’s budget. “Since 2022 the Indigenous Resource Network has been advocating for a National Indigenous Guaranteed Loan program, because Ownership is … Read more

2024 Already Looking Hot: Daily Global Average Surface Air Temperature – ENERGYminute

February 23, 2024 by EnergyNow Media

Courtesy of Axios Last year crushed global recorded temperature records, but this year has started off hotter. The El Niño event beginning last year continues to have a big impact on global temperatures. One potential source of reprieve: there is now a 77 percent chance of a La Niña event this year, according to Axios, which could help bring down … Read more

Gear Energy Ltd. Announces January Monthly Update to Shareholders

February 23, 2024 by EnergyNow Media

Calgary, Alberta–(Newsfile Corp. – February 23, 2024) – Gear Energy Ltd. (“Gear” or the “Company”) (TSX: GXE) (OTCQX: GENGF) is pleased to announce that the new January 2024 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 Email: [email protected] Website: www.gearenergy.com David Hwang … Read more

Oil Set to End Two Week Winning Streak After Fed Says in No Rush to Cut U.S. Rates

February 23, 2024 by EnergyNow Media

(Reuters) – Oil prices were down on Friday and on track to end a two-week winning streak after the U.S. central bank indicated interest rate cuts could be delayed by at least two more months. Brent crude futures were down 94 cents, or 1.1%, at $83.73 a barrel at 1015 GMT on Friday, while U.S. … Read more

Shell’s LNG Trading Makes $2.4 billion in Final 2023 Quarter, Sources Say

February 23, 2024 by EnergyNow Media

Summary Shell’s LNG trading accounted for third of Shell’s Q4 profit Trading was boosted by East-West arbitrage, CEO said (Reuters) – Nearly a third of Shell’s profit in the fourth quarter of 2023 came from the $2.4 billion it made in trading liquefied natural gas (LNG) as it captured strong demand ahead of winter, three sources … Read more

Journey Energy Inc. Announces Year-End 2023 Reserves

February 23, 2024 by EnergyNow Media

CALGARY, Alberta, Feb. 22, 2024 (GLOBE NEWSWIRE) — Journey Energy Inc. (JOY – TSX) (“Journey” or the “Company”) is pleased to report its year-end 2023 oil and gas reserves evaluation. 2023 Reserve Report Highlights: Proved developed producing reserves decreased 7% to 36.9 MMboe, with a corresponding decrease of 25% in NPV@10% to $361.9 million ($368.4 … Read more

Coming February 27 – FREE Pandell Leadership Series Webinar, Unlocking Efficiency: Revolutionizing Corporate ARO Reporting Through Technology – Details Here

February 23, 2024February 23, 2024 by EnergyNow Media

How Technology Helps Garner Information from Work Already Done Are you managing your Asset Retirement Obligations (ARO) effectively? Despite software solutions purpose-built for oil and gas companies to manage, track, and calculate ARO, many companies choose to manage their ARO programs using spreadsheets. But as ARO Management has grown in importance and complexity, managing an … Read more

Suncor Reverses Workplace Injury Trend, Reports 2023 Was Company’s Safest Year Ever

February 23, 2024February 23, 2024 by The Canadian Press

CALGARY — Oilsands giant Suncor Energy Inc., which has been heavily criticized in recent years for an abnormally high number of workplace deaths at its sites, reported that 2023 was its best year ever in terms of worker safety.
CEO Rich Kruger told an…

Schachter’s Eye on Energy: Weak US Demand And Rising Commercial Stocks Likely To Cause Near Term Correction In WTI Price.

February 23, 2024February 23, 2024 by EnergyNow Media

Cardinal Energy Ltd. announces 2023 year-end reserves

February 22, 2024 by EnergyNow Media

Calgary, Alberta–(Newsfile Corp. – February 22, 2024) – Cardinal Energy Ltd. (TSX: CJ) (“Cardinal” or the “Company“) is pleased to present the results of its independent reserve report effective December 31, 2023. One hundred percent of Cardinal’s year-end 2023 reserves were evaluated by independent reserves evaluator GLJ Ltd. (“GLJ”) with an effective date of December 31, 2023 … Read more

U.S. Oilfield Job Losses Could Swell as Natural Gas Prices Plunge

February 22, 2024 by EnergyNow Media

Oilfield service companies and drillers have put the brakes on hiring and further job cuts could loom as natural gas producers respond to sliding prices by slashing spending on new wells to reduce excess production. Already some 4,680 oilfield jobs have been lost since December, according to data from trade group Energy Workforce & Technology … Read more

Saturn Oil & Gas Inc. Announces Closing of $50 Million Bought Deal Private Placement Offering

February 22, 2024 by EnergyNow Media

Calgary, Alberta–(Newsfile Corp. – February 22, 2024) – Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) (“Saturn” or the “Company“) is pleased to announce that, further to the Company’s February 6, 2024 press release, it has closed its previously announced bought deal private placement offering (the “Offering“). Pursuant to the Offering, the … Read more

Chord Energy signs stock-and-cash deal worth about US$3.8B to buy Enerplus

February 22, 2024February 22, 2024 by The Canadian Press

CALGARY — Enerplus Corp. has signed a deal to be acquired by U.S. company Chord Energy Corp. in a stock-and-cash deal worth about US$3.8 billion.
Chord Energy chief executive Danny Brown says the deal strengthens the company’s Williston Basin position…

Canadian Firms are Delaying Climate Investments, Trudeau is Warned

February 22, 2024 by EnergyNow Media

pre event quest start up launch & campaign day one

Report urges expansion of carbon contracts to spur projects Failure to do so risks Canada missing 2030 goals, group says Bloomberg Canada faces a “critical problem” in meeting its 2030 emissions target because businesses are delaying building low-carbon projects due to uncertainty over the future of the country’s climate policies, a new report warns. To … Read more

Oil Rises on Softer Dollar, Shipping Attack

February 22, 2024 by EnergyNow Media

(Reuters) – Oil prices rose for a second day on Thursday, buoyed by a softer dollar and another attack on shipping near Yemen. Brent crude futures rose 35 cents, or 0.4%, to $83.38 a barrel at 1036 GMT. U.S. West Texas Intermediate crude futures climbed 37 cents, or 0.5%, to $78.28 a barrel. The dollar … Read more

Siemens Energy CEO: Fixing Onshore Wind Business Will Take Years

February 22, 2024 by EnergyNow Media

Reuters (Reuters) – Siemens Energy is confident it can solve quality issues at its onshore wind division but that process could take several years, its CEO said in written remarks published ahead of the group’s annual general meeting (AGM). “The losses we incurred in our wind business and the underlying problems are unacceptable. We will … Read more

Kelt reports significant increases in oil & gas reserves and provides an operations update

February 22, 2024 by EnergyNow Media

Calgary, Alberta–(Newsfile Corp. – February 22, 2024) – Kelt Exploration Ltd. (TSX: KEL) (“Kelt” or the “Company”) reports on its oil & gas reserves and production for the year ended December 31, 2023. Kelt retained Sproule Associates Limited (“Sproule”), an independent qualified reserve evaluator, to prepare a report on its oil and gas reserves. The report is … Read more

Obsidian Energy announces fourth quarter and full year 2023 results

February 22, 2024 by EnergyNow Media

• Average 2023 production increased five percent over 2022 and 12 percent on a per share basis • Generated funds flow from operations of $377.6 million and free cash flow of $58.5 million • Repurchased and cancelled six percent of shares outstanding for $47.4 million Calgary, Alberta–(Newsfile Corp. – February 22, 2024) – OBSIDIAN ENERGY LTD. (TSX: OBE) … Read more

Vermilion Energy Inc. confirms 2023 year end release date and conference call details and announces adoption of advance notice by-law

February 22, 2024 by EnergyNow Media

February 21, 2024 CALGARY, AB, Feb. 21, 2024 /CNW/ – Vermilion Energy Inc. (“Vermilion”, “We”, “Our”, “Us” or the “Company”) (TSX: VET) (NYSE: VET) will release its 2023 fourth quarter and year-end operating and financial results, along with its 2023 reserves information on Wednesday, March 6, 2024, after the close of North American markets. The audited financial statements, management discussion … Read more

Suncor Energy reports fourth quarter 2023 results

February 22, 2024 by EnergyNow Media

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

Helium Evolution Provides Operations Update

February 22, 2024 by EnergyNow Media

CALGARY, Alberta, Feb. 22, 2024 (GLOBE NEWSWIRE) — Helium Evolution Incorporated (TSXV:HEVI) (“HEVI” or the “Company“), a Canadian-based helium exploration company focused on developing assets in southern Saskatchewan, reports that its partner and operator, North American Helium Inc. (“NAH”), has initiated the completion operations for the well located at 9-35-3-9W3 (“9-35 Well”). The 9-35 Well has … Read more

Cielo Announces Private Placement of Convertible Debenture Units for up to $5.0 Million to Advance Renewable Fuel Projects, Confirms Final Credit Facility Draw and Magazine Feature

February 22, 2024 by EnergyNow Media

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. CALGARY, Alberta, Feb. 22, 2024 (GLOBE NEWSWIRE) — Cielo Waste Solutions Corp. (TSXV:CMC; OTCQB:CWSFF) (“Cielo” or the “Company”), a renewable fuel company leveraging market ready licensed technology to produce low carbon fuel from wood by-products, is pleased … Read more

Prairie Provident Announces Year-End 2023 Reserves

February 22, 2024 by EnergyNow Media

CALGARY, Alberta, Feb. 22, 2024 (GLOBE NEWSWIRE) — Prairie Provident Resources Inc. (“Prairie Provident” or the “Company”) (TSX: PPR) is pleased to announce the results of its December 31, 2023 independent reserves evaluation (the “Sproule Report”) conducted by Sproule Associates Limited (“Sproule”). The Sproule Report highlights that despite minimal capital spending, reserves additions were realized … Read more

Whitecap Resources Inc. announces 2023 results and reserves, operations update and updated 2024 guidance

February 22, 2024 by EnergyNow Media

CALGARY, AB, Feb. 21, 2024 /CNW/ – Whitecap Resources Inc. (“Whitecap” or the “Company”) (TSX: WCP) is pleased to report its operating and audited financial results for the three and twelve months ended December 31, 2023. Selected financial and operating information is outlined below and should be read with Whitecap’s audited annual consolidated financial statements and related management’s discussion and … Read more

Baker Hughes Secures Major Multi-Year Well Construction Services Contract with Petrobras

February 22, 2024 by EnergyNow Media

Company to provide well construction services in Buzios field offshore Brazil Positions Baker Hughes as integrated solutions supplier for Petrobras HOUSTON, Feb. 21, 2024 (GLOBE NEWSWIRE) — Baker Hughes (NASDAQ: BKR), an energy technology company, announced Wednesday a significant contract award from Petrobras for integrated well construction services in the Buzios field, offshore Brazil. The … Read more

Western Hemisphere Oil Output Surges, With a Helping Hand From OPEC – John Kemp

February 22, 2024February 22, 2024 by EnergyNow Media

Oil producers in the Western Hemisphere have captured all the increase in global oil consumption over the last decade, reversing the previous trend towards production becoming concentrated in the Eastern Hemisphere. With consumption growth increasingly focused on the Eastern Hemisphere, the predominant east-to-west flow of crude oil and refined products across the oceans has been reversed, transforming … Read more

COMMENTARY: Ottawa Should Scrap Its Oil and Gas Emissions Cap Plan

February 22, 2024February 22, 2024 by EnergyNow Media

steven guilbrault justin trudeau oct 2023 1200x810

Once again, Alberta is at odds with the federal government, this time over proposed regulations, which would impose a cap on greenhouse gas (GHG) emissions in the oil and gas sector, with the goal of reducing emissions by 35 to 38 per cent by 2030 (relative to 2019 levels). The Smith government fiercely opposes these regulations … Read more

Proposed Legislation to Suppress Speech About Fossil Fuels Should be Denounced and Scrapped

February 22, 2024February 22, 2024 by EnergyNow Media

It’s rare, in today’s political world, for someone in power to whip off the velvet glove and show the iron fist beneath. It’s a bit gauche for our times. But that’s what happened recently when federal NDP natural resources critic Charlie Angus tabled a member’s bill that would clap anyone who says negative things about … Read more

Chord Energy and Enerplus to Combine in $11 billion Transaction Creating Premier Williston-Focused E&P Company With Top-Tier Shareholder Returns

February 22, 2024February 22, 2024 by EnergyNow Media

Enhanced Operating Scale to Drive Returns and Free Cash Flow; Combined Acreage Position Totaling 1.3 Million Net Acres and Combined 4Q23 Production of 287,000 Boepd Combined Company has Approximately 10 years of Low-Breakeven Inventory with Significant Opportunity to Enhance Returns through Efficiencies and Expanding Three-Mile Lateral Opportunities Transaction Accretive to Key Metrics While Preserving Low Leverage; … Read more

Suncor Breaks Oilsands Record, but Adjusted Earnings Fall on Weaker Oil Prices

February 22, 2024February 22, 2024 by The Canadian Press

CALGARY — Suncor Energy Inc. says it earned $2.82 billion in the fourth quarter of 2023, up from $2.74 billion in the same period of 2022.
The Calgary-based oil company says its net earnings for the three months ended Dec. 31 work out to $2.18 per com…

Petrus Resources announces 2024 budget guidance

February 21, 2024 by EnergyNow Media

CALGARY, Alberta, Feb. 21, 2024 (GLOBE NEWSWIRE) — Petrus Resources Ltd. (“Petrus” or the “Company“) (TSX: PRQ) is pleased to announce its 2024 capital guidance. 2024 BUDGET GUIDANCE Petrus’ 2024 budget prioritizes our commitment to generating sustainable shareholder returns and maintaining a healthy balance sheet. Given the current commodity price environment, and consistent with the … Read more

Trican reports annual results for 2023, declares quarterly dividend and announces 12.5% dividend increase

February 21, 2024 by EnergyNow Media

Calgary, Alberta–(Newsfile Corp. – February 21, 2024) – Trican Well Service Ltd. (TSX: TCW) (“Trican” or the “Company”) is pleased to announce its annual results for 2023. The following news release should be read in conjunction with Management’s Discussion and Analysis (“MD&A”), the consolidated financial statements and related notes of Trican for the year ended … Read more

Gear Energy Ltd. announces fourth quarter 2023 operating results and year-end reserves summary and the filing of a Normal Course Issuer Bid

February 21, 2024 by EnergyNow Media

Calgary, Alberta–(Newsfile Corp. – February 21, 2024) – Gear Energy Ltd. (“Gear” or the “Company”) (TSX: GXE) (OTCQX: GENGF) is pleased to provide the following fourth quarter operating results and annual reserves summary to shareholders. Gear’s Consolidated Financial Statements and related Management’s Discussion and Analysis (“MD&A”) for the year ended December 31, 2023 are available for review on … Read more

Enerplus announces fourth quarter and full year 2023 financial and operating results

February 21, 2024 by EnergyNow Media

All financial information contained within this news release has been prepared in accordance with U.S. GAAP and is presented in U.S. dollars. This news release includes forward-looking statements and information within the meaning of applicable securities laws. Production information, unless otherwise stated, is presented on a net basis (after deduction of royalty obligations). Readers are … Read more

Enerplus announces 2023 year end reserves results

February 21, 2024 by EnergyNow Media

Readers are advised to review the “Notice Regarding Information Contained in this News Release” at the conclusion of this news release for information regarding the presentation of the reserves information contained in this news release, including the definitions of, and differences between, “Canadian NI 51-101 Standards” and “U.S. Standards” used herein. All amounts in this … Read more

Altima provides operational update on the Red Earth area

February 21, 2024 by EnergyNow Media

February 21, 2024 Vancouver, British Columbia–(Newsfile Corp. – February 21, 2024) – Altima Resources Ltd. (TSXV: ARH) (FSE: AKC) (OTC Pink: ARSLF) (the “Company” or the “Altima“) announces that after a thorough review of non-producing wells in the Red Earth area, in Alberta, Altima has identified (3) three additional Keg River wells to bring on production. Work on the 3 wells has … Read more

Calgary Women in Energy Presents: Allies in Energy 2024 – Executive Forum

February 21, 2024 by EnergyNow Media

WHEN Wednesday, April 10 · 2:30 – 7pm MDT WHERE Calgary Petroleum Club – Devonian Room 319 5 Ave SW Calgary, AB T2P0L5 ABOUT Calgary Women in Energy is excited to present Allies in Energy 2024 – Executive Forum. At the 2023 forum, we brought together a diverse panel of industry experts, who courageously shared … Read more

International Women’s Day Event 2024 – Presented by CWiE + Thoughtful Co.

February 21, 2024February 21, 2024 by EnergyNow Media

WHEN Thu, Mar 14, 2024 11:30 AM – 1:30 PM MDT WHERE Calgary Marriott Downtown Hotel 110 9 Avenue Southeast Calgary, AB T2G 5A6 ABOUT Unlock the secrets of negotiation with the Thoughtful Co. this International Women’s Day! Join CWiE on Thursday, March 14th, at the Marriott Hotel from 11:30am – 1:30pm for an empowering … Read more

Albertans Need Carbon Tax Protection

February 21, 2024 by EnergyNow Media

LETHBRIDGE, AB: The Canadian Taxpayers Federation is calling on the Alberta government to strengthen the Taxpayer Protection Act to shield Albertans from a future provincial carbon tax. “Premier Danielle Smith should shield Albertans from a future provincial carbon tax because we can’t count on future politicians to stand against carbon taxes,” said Kris Sims, Alberta Director … Read more

Source Rock Royalties recognized as a Top 50 TSX Venture Exchange Company

February 21, 2024 by EnergyNow Media

CALGARY, AB, Feb. 21, 2024 /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 oil royalties, announces that it has been recognized by the TSX Venture Exchange (the “TSXV”) as a 2024 Top 50 company. The TSX Venture 50 showcases the strongest performance on … Read more

Oil Dips as Investors Weigh up U.S. Rate Cut Outlook

February 21, 2024 by EnergyNow Media

(Reuters) – Chesapeake Energy beat Wall Street estimates for fourth-quarter profit on Tuesday as the U.S. natural gas producer tackled weak commodity prices with lower operating expenses. Chesapeake shares fell about 2% in aftermarket trading as the company forecast a 20% drop in spending on baseline production this year. Its fourth-quarter shareholder returns also fell sharply … Read more

The IEA’s Mid-life Crisis – ENERGYminute

February 21, 2024February 21, 2024 by EnergyNow Media

The International Energy Agency (IEA) is doing what anyone approaching 50 does: buying a Harley having an identity crisis. Key stakeholders of the global energy watchdog gathered in France this week to honor the organization’s half-century mark. While many celebrated its recent turn towards green energy and sustainability, not all IEA members are thrilled. Background: The IEA was … Read more

Canada Secures Surrender of all Offshore Pacific Coast Oil and Gas Permits

February 21, 2024 by EnergyNow Media

Canada has secured the surrender of the last remaining permits for oil and gas development off its Pacific Coast, the federal natural resources minister said on Wednesday, after Chevron Canada voluntarily relinquished 23 permits this month. Energy and Natural Resources Minister Jonathan Wilkinson said the relinquishment of the permits marked an important milestone in permanently protecting … Read more

Tumbling U.S. Natural Gas Prices Prove Unstoppable, Hurting Producers

February 21, 2024 by EnergyNow Media

For nearly a year, U.S. natural gas producers have slammed the brakes on production as prices fall. But relentless output gains including from oil companies that pump gas as an oil byproduct have unleashed record supplies. In the oil versus gas contest, gas producers are losing out. Some are shutting in wells, canceling projects or … Read more

Trans Mountain Expansion May Not Give Long-term Price Relief to Canada’s Booming Oil Output

February 21, 2024February 21, 2024 by EnergyNow Media

Canadian oil producers expect the discount on their crude to shrink significantly when the Trans Mountain pipeline expansion (TMX) starts this year, but the relief may be short-lived as surging supply looks set to exceed the country’s pipeline capacity in just a few years. TMX will ship an extra 590,000 barrels per day (bpd) of … Read more

Energy Transition Stocks Get Lots of Love From Investors, TSX Venture List Shows

February 21, 2024February 21, 2024 by The Canadian Press

CALGARY — Canadian-based mining companies that are betting on the global energy transition saw a surge of investor interest in 2023, according to the latest edition of the TSX Venture 50 list.
The annual ranking of top performers on Canada’s main ven…

Drought Adaptation Planning – Strategic Water Sourcing: 6 Alternatives for Basin Shutdowns

February 21, 2024 by EnergyNow Media

Drought Adaptation Planning – Strategic Water Sourcing: 6 Alternatives for Basin Shutdowns Due to the below average snowpack observed over the winter months to date, both Alberta and British Columbia are expected to experience severe drought conditions in the spring and summer. Water availability across several basins will be limited, and diversion restrictions for new … Read more

Stress Engineering Services Canada to Attend the 2024 International Pressure Equipment Integrity Association (IPEIA) Conference

February 21, 2024 by EnergyNow Media

Join Stress Engineering Services Canada at the 2024 International Pressure Equipment Integrity Association (IPEIA) Conference, February 26 – 29, 2024 in Jasper, Alberta Canada. During the conference, IPEIA attendees are invited to stop by Stress Engineering Services Canada’s booth (#3) and speak with our experts Tom Raptis, Kenneth Farrow PhD, PE, PEng. and Justin Bekker, … Read more

COMMENTARY: Bill Banning Oil and Gas Ads Won’t Pass, and Rightfully So

February 21, 2024February 21, 2024 by EnergyNow Media

hit by inflation, we need new investment margareta dovgal 1200x810

Resource Works Margareta Dovgal shakes her head at a private member’s bill in Parliament. Jail for saying something positive about oil and gas? Yes, really. Fines or prison time are in a private member’s bill before the House of Commons, Bill C-372 from NDP MP Charlie Angus, an Act Respecting Fossil Fuel Advertising. Only it wouldn’t just ban … Read more

Hubs are the Future of Carbon Capture and Storage: Why Alberta is an Ideal Place to Make it Happen

February 20, 2024February 20, 2024 by EnergyNow Media

alberta carbon trunk line 1200x810 feb 20 2024

Alberta Carbon Trunk Line a ‘perfect example’ of a successful carbon capture and storage hub in action By Deborah Jaremko Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Call it a CCS highway – a shared transportation and storage network that enables multiple industrial users to reduce emissions faster. So-called … Read more

Canada Names Saskatchewan as Gas Distributor in Province’s Fight Against Carbon Tax – Why This is Important

February 20, 2024 by EnergyNow Media

The Canada Revenue Agency has agreed to Saskatchewan’s request to register the provincial government as the province’s natural gas distributor in the province instead of the government-owned SaskEnergy company, a government spokesperson said on Tuesday. The move comes as Saskatchewan protests that the federal carbon tax is unfair and places an onerous burden on Canadians … Read more

Manitoba Government Points to Low Inflation Rate After Fuel-Tax Cut

February 20, 2024February 20, 2024 by The Canadian Press

WINNIPEG — Manitoba’s NDP government touted its recent fuel-tax cut as an inflation-buster Tuesday, while the Opposition Progressive Conservatives accused the government of letting costs rise elsewhere.
Premier Wab Kinew pointed to new figures from St…

Wireless Charging for Electric Cars Is Inching Closer to Reality

February 20, 2024 by EnergyNow Media

As EV sales climb, more companies are embarking on wireless-charging pilot projects. But hurdles remain before powering up without a plug can go commercial. Bloomberg Someday soon, plug-in cars may no longer need a plug. Electric car drivers would simply pull into a specialized parking space when it’s time to power up, wait for a … Read more

Oil Hovers Near 3-Week High on Middle East Tensions, China Demand

February 20, 2024 by EnergyNow Media

Summary Signs of stronger China demand support sentiment -analyst Beijing cuts mortgage reference rate to bolster property sector Houthis continue to hit shipping in Red Sea (Reuters) – Oil prices edged lower on Tuesday but remained near three-week highs on heightened Middle East tensions and as China showed some signs of economic recovery. Brent futures … Read more

COMMENTARY: U.S. Halt on LNG Exports Presents New Opportunity for Canada – But Will Government Get in the Way?

February 20, 2024 by EnergyNow Media

The Biden administration recently paused the approval of permits for liquefied natural gas (LNG) exports, which will force U.S. allies to explore alternative sources of LNG, opening the door for Canada. In fact, if Canadian policymakers remove certain regulatory hurdles, they can help position Canada as a leading global provider of clean and reliable natural gas while … Read more

Construction Industry Condemns Environment Minister’s Lack of Support for Canada’s Road Infrastructure

February 20, 2024 by EnergyNow Media

steven guilbeault 1200x810 house of commons oct 25 2023

Canada’s construction industry is demanding clarity from the Government of Canada on future investment in new road infrastructure after comments made earlier this week by Environment Minister Steven Guilbeault. While Guilbeault explained that support to provinces for maintenance will continue, existing road infrastructure “is perfectly adequate to respond to the needs we have.” We are dealing with an acute … Read more

Gran Tierra Energy Inc. Announces 2023 Fourth Quarter & Year-End Results, Including Successfully Meeting 2023 Guidance for Annual Production, Funds Flow From Operations¹ and Free Cash Flow¹

February 20, 2024 by EnergyNow Media

Realized 2023 Net Loss of $6 Million ($0.19 per Share, Basic) and 2023 Adjusted EBITDA1 of $399 Million Generated 2023 Funds Flow from Operations1 of $277 Million and 2023 Free Cash Flow1 of $58 Million ($1.73 per Share, Basic) Met 2023 Production Guidance by Achieving 2023 Average Working Interest Production of 32,647 BOPD, Up 6% from 2022 Fifth Consecutive Year of 1P Total Company Reserves Growth Highest Year-End Total Company Reserves in Company History – 90 MMBOE 1P, 147 MMBOE 2P and 207 MMBOE 3P and … Read more

Optimize, Not Expand – How Service Companies Lose 20%

February 20, 2024February 20, 2024 by EnergyNow Media

Let’s look at a typical situation if you are a service company: Let’s assume you complete a project worth $100,000 Your profit margin on this project is 10%. If paid promptly, you have the potential to make $10,000. Instead, your customer takes 90 days to pay you! You carry that $100,000 on an LOC for … Read more

Alberta First Nations Seek Answers on Carbon Capture and Storage Plans

February 20, 2024February 20, 2024 by The Canadian Press

indigenous people can decide for themselves what to invest in resource works 1200x810

Seven Alberta First Nations have banded together to seek answers as industry and government move on billion-dollar plans to inject and store millions of tonnes of greenhouse gases underneath or adjacent to their traditional lands.
“We don’t know how …

US drillers cut oil and gas rigs for second time in three weeks – Baker Hughes

February 20, 2024February 20, 2024 by EnergyNow Media

By Scott DiSavino Feb 16 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the second time in three weeks, 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, fell by two to 621 in the week … Read more

The Painful Truth About Trudeau’s ‘Rebranded’ Carbon Tax – Goldstein

February 20, 2024February 20, 2024 by EnergyNow Media

Lorrie Goldstein It’s absurd that Prime Minister Justin Trudeau and the Liberals believe that rebranding their “climate action incentive payments” as “Canada carbon rebates” is what’s needed to fix their carbon tax. What Canadians deserve is the truth about Trudeau’s carbon tax, which they have never been given by the Liberals. Consider: The Liberals say … Read more

Energy South: Wall Street Is Warming to Big Shale After $250 Billion of Deals

February 20, 2024February 19, 2024 by EnergyNow Media

Shale drillers can ‘consolidate or get eaten’: Warwick CEO US oil producers now in ‘arms race’ for scale, investor says This week’s $26 billion combination of two Texas oil companies is the latest in a series of deals that’s ushering in the era of Big Shale. Wall Street, which eyed the sector with skepticism for … Read more

Oil Steadies as Demand Jitters Counter Middle East Conflict

February 19, 2024 by EnergyNow Media

(Reuters) – Global oil benchmark Brent crude was little changed on Monday, hovering around $83 a barrel as festering demand concerns were offset by continuing conflict in the Middle East. Brent crude futures eased by 14 cents to $83.33 a barrel by 1243 GMT. The March contract for U.S. West Texas Intermediate (WTI) crude , … Read more

TRUMP 2.0: What a Second Trump Presidency Could Mean for U.S. Energy Policy

February 19, 2024 by EnergyNow Media

Reuters WASHINGTON, Feb 16 (Reuters) – Former U.S. President Donald Trump would seek to undo much of the Biden administration’s work to fight climate change if he returns to office after November’s election, and launch new efforts to expand fossil fuel production, according to Republican policy experts and Trump’s campaign website. Here are some of the likely moves: LNG … Read more

Halo Environmental: Industry’s Top Choice For Insulating Above Ground Pipelines With Spray Foam Insulation

February 19, 2024 by EnergyNow Media

What do clients love about their experiences? Eliminate Cold Weather Freeze Ups Prevents moisture from entering into protective insulation and eliminates exterior pipe corrosion. Rodents, birds and other pests cannot live in the insulation and with hard exterior topcoat are not able to eat the insulation. Very high insulation factor – R7/1” spray foam which … Read more

Challenges in Level Indication for the Energy Industry

February 19, 2024 by EnergyNow Media

In the refining and petrochemical sectors, accurate level indication is critical for maintaining operational efficiency, safety, and compliance with environmental regulations. However, several unique challenges complicate this task: Extreme Operating Conditions: These industries often operate under severe conditions, including high temperatures and pressures, aggressive chemicals, and corrosive environments. Such conditions can degrade traditional level measurement … Read more

Oil Settles Up, Records Weekly Gain on Middle East Tensions

February 17, 2024 by EnergyNow Media

Summary Israel strikes Rafah IEA trims oil demand growth forecast India-bound oil tanker hit by missile fired from Yemen (Reuters) – Oil prices settled higher on Friday as geopolitical tensions in the Middle East more than offset a forecast from the International Energy Agency for slowing demand. Brent crude futures settled up 61 cents, or … Read more

Ottawa Mulls Changes to Clean Electricity Rules After ‘Sharp Criticism’ of First Proposal

February 17, 2024February 17, 2024 by EnergyNow Media

Proposed revisions follow consultations with industry The Canadian Press Ottawa is considering alterations to its proposed clean electricity regulations after consultations with industry, opening the door to more flexibility for individual power generators. “We can still get to the same aim,” said Oliver Anderson, a spokesman with Environment and Climate Change Canada. The proposed changes, released Friday, would … Read more

El Niño Pushes Real U.S. Gas Prices to Multi-Decade Low: Kemp

February 17, 2024 by EnergyNow Media

Inflation-adjusted U.S. gas prices have fallen to the lowest level for over 30 years as a mild winter and continued production growth leave the market carrying a growing surplus of inventories. Front-month futures for gas delivered at Henry Hub in Louisiana slumped to $1.58 per million British thermal units on Feb. 15, the lowest in … Read more

Energy Perspectives: Trading Up – Canadian Oil and Gas Exports

February 17, 2024February 17, 2024 by EnergyNow Media

The composition of Canadian trade has changed significantly in the last 20 years, with oil and gas now Canada’s most significant export By Ven Venkatachalam Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Global trade patterns have changed in recent years due to ongoing political and economic turmoil. … Read more

Canadians in Remote and Rural Communities Need Access to Affordable, Reliable Energy

February 17, 2024February 17, 2024 by EnergyNow Media

By Canada Powered by Women Canada really is the true north, strong and free — stretching from the Atlantic, to Pacific, to Arctic coasts. Incredible as these vast swaths of land are though, they do pose a power supply challenge for remote and rural communities. “Most of them are off-grid, and so they don’t have … Read more

Natural Resources Minister Warns Canada Must Accelerate Energy Transition for Economic Security

February 17, 2024February 17, 2024 by EnergyNow Media

Natural Resources Minister Warns Canada Must Accelerate Energy Transition for Economic Security Original published in the Financial Post, More from the Financial Post Here Western countries must catch up to China which is leading on multiple fronts, says Jonathan Wilkinson China has gained an advantage in three industries that are essential to the energy transition … Read more

World’s Biggest Carbon-Capture Project at Risk, Wood Mackenzie Warns

February 17, 2024February 17, 2024 by EnergyNow Media

Oilpatch needs firm commitments of government support Bloomberg News The $16.3 billion first phase of Pathways Alliance’s massive development to store emissions underground “will be delayed and potentially scuppered” if Canada’s federal and provincial governments don’t figure out how to underwrite some of the financial risks involved, Peter Findlay, a Wood Mackenzie analyst, wrote in a … Read more

TC Energy reports record 2023 operating and financial results driven by solid execution

February 16, 2024 by EnergyNow Media

Increases common share dividend for the twenty-fourth consecutive year CALGARY, Alberta, Feb. 16, 2024 (GLOBE NEWSWIRE) — TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) released its fourth quarter results today. François Poirier, TC Energy’s President and Chief Executive Officer commented, “By remaining focused on a clearly defined set of priorities emphasizing … Read more

Pipeline Operator TC Energy Beats Fourth-Quarter Profit Estimates

February 16, 2024 by EnergyNow Media

Reuters Feb 16 (Reuters) – Pipeline operator TC Energy beat fourth-quarter profit estimates on Friday, helped by high demand for liquefied natural gas (LNG). The U.S. was the world’s top LNG exporter last year, after Europe imposed sanctions on Moscow following Russia’s invasion of Ukraine. Full-year exports from the United States rose 14.7%, driven largely by … Read more

Oil Slips as Weaker IEA Demand Outlook Offsets Rate Cut Hopes

February 16, 2024 by EnergyNow Media

(Reuters) – Oil slipped on Friday as a forecast of slowing demand by the International Energy Agency offset support from geopolitical tensions and hopes that the U.S. Federal Reserve might cut interest rates sooner than expected. Weighing on sentiment, the IEA said on Thursday that global oil demand growth was losing momentum and it trimmed its 2024 … Read more

Cenovus Energy’s Strong Production Boosts Shares as Profit Narrowly Misses

February 16, 2024February 16, 2024 by EnergyNow Media

cenovus with workers may 31 2023 1200x810

(Reuters) – Cenovus Energy narrowly missed analysts’ estimates for quarterly profit, but higher production and refinery throughput volumes pushed shares in the Canadian oil and gas producer as much as 7% higher on Thursday. Upstream production rose to 808,600 barrels of oil equivalent per day (boepd) in the fourth quarter from 806,900 boepd a year earlier, … Read more

U.S. Natgas Drillers Cut Spending, Reduce Activity Amid Price Crash

February 16, 2024February 16, 2024 by EnergyNow Media

U.S. natural gas producers are slashing spending and reducing drilling activity following a sharp decline in prices, companies said this week during earnings presentations and analyst calls. For months of relatively low gas prices, many producers kept output mostly steady on expectations that demand would rise in 2024 and 2025 when several liquefied natural gas … Read more

U.S. House Passes Bill to Reverse Biden’s LNG Pause but Still Faces Battle with Democrat-Controlled Senate

February 16, 2024February 16, 2024 by EnergyNow Media

A bill to strip the power of President Joe Biden’s administration to freeze approvals of liquefied natural gas exports passed in the Republican-controlled U.S. House of Representatives on Thursday, but faces an uphill battle in the Senate. The House approved the bill sponsored by Representative August Pfluger of gas-producing Texas 224-200 on a mostly party-line … Read more

Schachter’s Eye on Energy: Crude Oil War Premium Expands US$3.50/b Over The Last Week As Houthis Continue Attacks In Red Sea.

February 16, 2024February 16, 2024 by EnergyNow Media

Liberals Rebrand Carbon-Tax Rebates, Amount to Rise as Much as 17% in April

February 15, 2024 by EnergyNow Media

Per-tonne price of carbon will also increase at same time The Canadian Press OTTAWA — The Liberals unveiled a rebrand of the federal carbon tax rebate Wednesday as they announced the new amounts households are expected to get after the price itself goes up in April. In a tacit acknowledgement that Canadians don’t seem to be aware … Read more

Peyto delivers strong reserves growth in 2023

February 15, 2024 by EnergyNow Media

CALGARY, Alberta, Feb. 15, 2024 (GLOBE NEWSWIRE) — Peyto Exploration & Development Corp. (TSX: PEY) (“Peyto” or the “Company”) is pleased to present the results and in-depth analysis of its independent reserve report effective December 31, 2023. The evaluation encompassed 100% of Peyto’s reserves and was conducted by GLJ Ltd. (“GLJ”). The year 2023 marks the Company’s 25th year … Read more

ROK Resources announces record production, 2023 year-end reserves, and provides first-half 2024 guidance

February 15, 2024 by EnergyNow Media

REGINA, SK / ACCESSWIRE / February 15, 2024 / ROK Resources Inc. (“ROK” or the “Company“) (TSXV:ROK)(OTCQB:ROKRF) is pleased to provide: (i) 2023 operations update highlighted by record December 2023 daily average production of approximately 4,650 boepd, (ii) 2023 year-end reserve and core area drilling inventory growth, and (iii) first-half 2024 guidance focused on disciplined capital … Read more

Cenovus Announces Fourth-Quarter and Full-Year 2023 Results

February 15, 2024February 15, 2024 by EnergyNow Media

CALGARY, Alberta, Feb. 15, 2024 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) continued to deliver strong operational performance across the portfolio in the fourth quarter of 2023. The company’s upstream assets performed exceptionally well, achieving the second-highest quarterly production rates in Cenovus’s history. In its downstream business, the company continued to build operating … Read more

Cenovus reports second-highest quarterly production ever, driven by oilsands

February 15, 2024February 15, 2024 by The Canadian Press

workers at cenovus energy's christina lake oil sands project. photo courtesy cenovus energy 1200x810

CALGARY — Cenovus Energy Inc. is the latest Canadian oilsands company to report surging production levels just in time for the anticipated startup of the Trans Mountain pipeline expansion.
The Calgary-based company said Thursday it saw its second-high…

Oil Demand Growth Slowing as Non-OPEC Supply Expands, Says IEA

February 15, 2024 by EnergyNow Media

Summary IEA trims 2024 oil demand growth forecast Raises supply growth estimates Expects slight build in inventories in Q1 despite OPEC+ cuts Oil prices dip after report (Reuters) – Global oil demand growth is losing momentum, the International Energy Agency (IEA) said on Thursday as it trimmed its 2024 growth forecast, in sharp contrast to … Read more

Oil Eases as IEA Flags Slower Demand Growth

February 15, 2024 by EnergyNow Media

Summary IEA trims 2024 oil demand growth forecast U.S. crude inventories rise more than expected Britain and Japan recessions weigh on prices (Reuters) – Oil prices fell slightly on Thursday as the International Energy Agency (IEA) flagged slowing demand growth this year while a larger than expected jump in U.S. crude inventories also weighed. Brent … Read more

Birchcliff Energy Ltd. announces unaudited 2023 full-year and fourth quarter results and 2023 reserves highlights

February 15, 2024 by EnergyNow Media

CALGARY, Alberta, Feb. 14, 2024 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its unaudited 2023 full-year and fourth quarter financial and operational results and highlights from its independent reserves evaluation effective December 31, 2023. “In 2023, we delivered annual average production of 75,699 boe/d and adjusted funds flow(1) of … Read more

Trudeau Ratchets Up Latest ‘Climate’ Propaganda Campaign – Less for You is Good – More Tax For Me

February 15, 2024 by EnergyNow Media

trudeau shatters myth of ideal carbon tax 1200x810

In the face of resistance from provinces to its anti-fossil fuel agenda, and having endured several setbacks in the federal courts over some of its signature environmental policies, the Trudeau government has rolled out a new propaganda campaign to build greater support for its climate and energy policies. According to the government’s new “Raising the … Read more

COMMENTARY: Has Your Company Implemented Productization Sufficiently? – Yogi Schulz

February 15, 2024 by EnergyNow Media

By Yogi Schulz Here’s the link to my IT blog at IT World Canada Engineers at engineering, procurement and construction companies (EPCs) continually face pressure to design, build and commission their products better, faster, and cheaper. This pressure doesn’t just apply to smaller, more straightforward, high-volume products. It also applies to huge, multi-million-dollar oil and … Read more

U.S. House to Vote on Biden’s LNG Political Pause Friday, White House Defends Move

February 15, 2024 by EnergyNow Media

Republican lawmakers opposing President Joe Biden’s pause on LNG export approvals said the U.S. House of Representatives will vote on Friday on a bill to take those approvals out of the hands of the Department of Energy. The bill has been in development since before the move last month by Biden, a Democrat, to pause … Read more

Canadian First Nation Sends Notice of Opposition to Obsidian Energy Drilling Plans

February 15, 2024February 15, 2024 by EnergyNow Media

A Canadian First Nation on Wednesday said it has told the Alberta Energy Regulator that oil and gas producer Obsidian Energy cannot proceed with plans to expanded drilling on its territory due to concerns about earthquakes. The Woodland Cree First Nation in northern Alberta criticized Obsidian earlier this week for failing to address the Indigenous community’s concerns … Read more

Oil Sands Technology Competition to Generate Low Emissions Carbon Fibre Moves Into Final Phase

February 15, 2024February 15, 2024 by EnergyNow Media

Study found carbon fibre made from oil sands bitumen has 69 per cent lower emissions than conventional sources By Will Gibson and Deborah Jaremko Bryan Helfenbaum, associate vice-president of clean energy with Alberta Innovates, holds a hockey stick made with carbon fibre derived from oil sands bitumen. Photo by Dave Chidley for the Canadian Energy Centre Having … Read more

Right For Who? Biden’s Pause of LNG is “Doing the Right Thing” – Canada’s Energy Minister Says

February 15, 2024February 15, 2024 by EnergyNow Media

U.S. decision to pause approvals of new licenses to export liquefied natural gas is welcome, Wilkinson says Bloomberg News The United States’ decision to pause approvals of new licences to export liquefied natural gas is welcome, and there are “real” risks that some infrastructure will end up stranded, Canada’s energy minister said. The administration of U.S. … Read more

Trudeau’s Carbon Tax Rebrand is Lipstick on a Pig

February 15, 2024February 15, 2024 by EnergyNow Media

OTTAWA, ON: The Canadian Taxpayers Federation is criticizing the federal government for rebranding its carbon tax rebate instead of providing relief by scrapping the tax altogether. “Prime Minister Justin Trudeau’s carbon tax rebrand is just lipstick on a pig,” said Franco Terrazzano, CTF Federal Director. “Canadians need tax relief, not a snappy new slogan that won’t … Read more

Heavy Oil Discount Widens Slightly

February 15, 2024February 15, 2024 by EnergyNow Media

The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) edged wider on Wednesday, continuing to trade in a narrow range: * WCS for March delivery in Hardisty, Alberta, settled at $19.60 a barrel under WTI, according to brokerage CalRock, having closed at $19.30 per barrel below … Read more

Conklin Métis Community announces 7 new business partnerships: Beginning the transformation of a small northern Alberta community

February 14, 2024 by EnergyNow Media

CONKLIN, AB, Feb. 14, 2024 /CNW/ – Conklin, a predominantly Métis community in northern Alberta, situated just south of the Alberta oil sands, has long grappled with housing shortages and limited economic opportunities despite its proximity to Alberta’s economic engine. However, in a move poised to be transformative, the Conklin Resource Development Advisory Committee (CRDAC) – an elected board tasked with spearheading economic … Read more

Keyera Announces 2023 Year End Results and Provides Commercial Update

February 14, 2024 by EnergyNow Media

CALGARY, AB, Feb. 14, 2024 /CNW/ – Keyera Corp. (TSX: KEY) (“Keyera”) announced its 2023 year-end 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. “Keyera continues to execute on its strategy, achieving record … Read more

Google to Share Oil and Gas Methane Leaks Spotted From Space

February 14, 2024 by EnergyNow Media

Google and environmental group Environmental Defense Fund on Wednesday unveiled a partnership to expose sources of climate-warming emissions from oil and gas operations that will be detected from space by a new satellite. MethaneSAT will launch next month, one of several satellites that are being deployed to monitor methane emissions across the globe to pinpoint … Read more

Obsidian Energy sets record straight regarding Woodland Cree First Nation misleading statements

February 14, 2024February 14, 2024 by EnergyNow Media

Calgary, Alberta–(Newsfile Corp. – February 13, 2024) – OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) (“Obsidian Energy“, the “Company“, “we“, “us” or “our“) today expressed our deep disappointment with the Woodland Cree First Nation (the “WCFN“) senior leadership’s misleading statements issued in a news release yesterday and their decision to address what Obsidian Energy believes to be the … Read more

Oil Holds Firm on OPEC Demand Forecast and U.S. Fuel Stocks

February 14, 2024 by EnergyNow Media

(Reuters) – Oil prices were little changed on Wednesday, holding on to Tuesday’s gains on a robust demand growth forecast from OPEC and a sharp decline in U.S. fuel stocks. Brent crude futures rose by 12 cents, or 0.14%, to $82.89 a barrel by 1235 GMT. U.S. West Texas Intermediate (WTI) crude futures were up … Read more

Oil Majors Rejig Portfolios with $30-Per-Barrel Price in Mind

February 14, 2024 by EnergyNow Media

Summary As renewables advance, companies rush to shed costly oilfields Shareholder payouts taking more cash than capital expenditures (Reuters) – Oil majors are targeting new oilfields that can be profitable even if oil prices fall to about $30 per barrel, using a third year of rising demand to reshape portfolios amid uncertainty over the industry’s … Read more

Senate’s Bill C-234 Amendments Cost Farmers $910 Million

February 14, 2024February 14, 2024 by EnergyNow Media

OTTAWA, ON: The Canadian Taxpayers Federation is calling on members of Parliament to pass the original Bill C-234 following Parliamentary Budget Officer reports showing the Senate’s amendments would cost farmers $910 million by 2030. “Making it more affordable for farmers to grow food will make it more affordable for families to buy food,” said Franco … Read more

Shell’s “Business Case” Expects 50% Rise in Global LNG Demand by 2040 – Trudeau Says There Isn’t One

February 14, 2024February 14, 2024 by EnergyNow Media

(Reuters) – Global demand for liquefied natural gas (LNG) is estimated to rise by more than 50% by 2040, as China and countries in South and Southeast Asia use LNG to support their economic growth, Shell said in an annual report on Wednesday. Global LNG trading rose by 1.8% to 404 million metric tons in … Read more

COMMENTARY: Hit By Inflation, British Columbia Needs New Resource Investment – Margareta Dovgal

February 14, 2024February 14, 2024 by EnergyNow Media

Our Margareta Dovgal on resources as a priority. Inflation has become a common problem. So has ‘shrinkflation’ — paying the old price for a new package that contains less product. No wonder that people are saying things such as “My dollar isn’t stretching very far these days.” A lot of this is due to COVID-related … Read more

CASE STUDY: Transformative Slope Stabilization with Tough Cell® Geocell Technology – Paradox Access Solutions

February 15, 2024February 14, 2024 by EnergyNow Media

The challenge of restoring vegetation to steep slopes can be incredibly daunting for contractors battling erosion. The interplay of factors such as soil composition, slope angle, water content, and geological structure underscores the necessity for a comprehensive solution. In addressing slope stability, the focus is on preventing or mitigating soil movement and slope failure to … Read more

Heavy Oil Discount Narrows Within Tight Range

February 14, 2024February 14, 2024 by EnergyNow Media

The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) narrowed slightly on Tuesday and continued to hold within this month’s slim trading range.* WCS for March delivery in Hardisty, Alberta, settled at $19.30 a barrel under WTI, according to brokerage CalRock, having closed at $19.40 per … Read more

Federal Government Should Face Facts – the EV transition is Failing

February 14, 2024February 14, 2024 by EnergyNow Media

A series of recent headlines in the Wall Street Journal reveal the extent to which government plans in Canada and the United States, to transition surface transportation from internal combustion to battery-electric power, are already showing signs of failure. “Ford Cuts Lightning Output in Latest Sign of EV Downshift,” reads one article while the editorial page says … Read more

Bonterra Energy announces 2023 reserves and provides operational update

February 13, 2024February 13, 2024 by EnergyNow Media

CALGARY, AB, Feb. 13, 2024 /CNW/ – Bonterra Energy Corp. (TSX: BNE) (“Bonterra” or the “Company”) is pleased to announce the summary results of its independent reserve report (the “Sproule Report”) prepared by Sproule Associates Limited (“Sproule”) with an effective date of December 31, 2023, and provide an operational update on key fourth quarter highlights and recent activities. The Company … Read more

Oil & Gas Deals Are Powering the Global M&A Engine

February 13, 2024 by EnergyNow Media

Bloomberg Drilling for deals The oil and gas sector has been one of the few in which you haven’t had to drill too deep for good M&A news during the global deals slump. Whether you’re looking over three, six or 12-month periods, year-on-year increases in the values of transactions involving oil and gas companies look … Read more

Canadian First Nation Urges Obsidian Energy to Address Quake Concerns

February 13, 2024 by EnergyNow Media

(Reuters) – An Indigenous community in Alberta on Monday criticized Obsidian Energy for failing to address ongoing concerns about its operations after regulators said the Canadian oil and gas producer was responsible for a series of earthquakes. The quakes, including one with a local magnitude of 5.6, took place over nearly four months in the territory … Read more

Oil Prices Drift Up with Focus on Middle East

February 13, 2024 by EnergyNow Media

Summary Middle East conflict keeps prices elevated US inflation data expected on Tuesday POLL-US crude stocks likely rose last week, products seen down (Reuters) – Oil prices edged up on Tuesday as uncertainty over fighting in the Middle East kept markets on edge, but gains were capped by concerns that central banks will keep interest … Read more

Why Endeavor Energy’s Founder Sold his Company after Years of Rebuffing Offers

February 13, 2024 by EnergyNow Media

(Reuters) – For years, Endeavor Energy founder Autry Stephens’ refusal to entertain acquisition offers for one of the most lucrative producers in the U.S. oil patch vexed some of his peers. “It’s not for sale, it hasn’t been for sale, it’s probably not going to ever sell,” Pioneer Natural Resources’ former CEO Scott Sheffield, a contemporary … Read more

Parex Resources Provides Update on Northern Llanos Operations as well as Announces Timing of Q4 2023 Results

February 13, 2024 by EnergyNow Media

CALGARY, Alberta, Feb. 12, 2024 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX: PXT) provides an update on its Northern Llanos operations, which are being affected by ongoing social protests in the region that began on January 22, 2024. The Company also announces that it will release its Q4 2023 and FY … Read more

Cielo Provides Update on Continued Progress and Milestones Achieved to Advance Carseland Bio-SynDiesel® Project

February 13, 2024 by EnergyNow Media

THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO THE UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. CALGARY, Alberta, Feb. 13, 2024 (GLOBE NEWSWIRE) — Cielo Waste Solutions Corp. (TSXV: CMC; OTC: CWSFF) (“Cielo” or the “Company”), a renewable fuel company leveraging environmental technology to produce renewable fuel from wood by-products, … Read more

Heavy Oil Discount Widens Marginally

February 13, 2024February 13, 2024 by EnergyNow Media

* WCS for March delivery in Hardisty, Alberta, settled at $19.40 a barrel under WTI, according to brokerage CalRock, having closed at $19.25 per barrel below the U.S. benchmark on Friday. * Canadian heavy crude differentials have been under pressure all month, following the shutdown of BP’s 435,000 barrel-per-day (bpd) Whiting, Indiana, refinery and fresh … Read more

PrairieSky announces fourth quarter and year-end results for 2023, including record oil royalty production, strong leasing activity and increased annual dividend

February 13, 2024 by EnergyNow Media

CALGARY, Alberta, Feb. 12, 2024 (GLOBE NEWSWIRE) — PrairieSky Royalty Ltd. (“PrairieSky” or the “Company“) (TSX: PSK) is pleased to announce its fourth quarter (“Q4 2023“) and year-end operating and financial results for the period ended December 31, 2023. PrairieSky is also pleased to announce a 4% increase in its annual dividend to $1.00 per common share … Read more

Cardinal Energy Ltd. announces February dividend and operational update

February 13, 2024 by EnergyNow Media

Calgary, Alberta–(Newsfile Corp. – February 12, 2024) – Cardinal Energy Ltd. (TSX: CJ) (“Cardinal” or the “Company“) is announcing its February 2024 dividend and providing a general operations update. Cardinal intends to provide monthly operating updates, when applicable, with its monthly dividend news release. February 2024 Dividend The Company is confirming that its February dividend of $0.06 … Read more

OPEC Secretary General Believes Long-Term Demand Outlook is Robust

February 13, 2024 by EnergyNow Media

Saudi Arabia’s decision to postpone oil capacity expansion plans should not be interpreted as an assessment that demand for crude is falling, OPEC’s Secretary General said on Tuesday. “First of all I want to be clear I cannot comment on a Saudi decision… but this is in no way to be misconstrued as a view … Read more

Alberta Power Generator Fined for Operating Without Regulatory Approval

February 13, 2024February 13, 2024 by The Canadian Press

An Alberta power generator has been fined for running a plant for months without regulatory approval.
The Alberta Utilities Commission has fined Avex Energy nearly a quarter-million dollars for running a natural gas-fired generator while bypassing reg…

Tesla Collapse has Investors Wondering if it’s Still Magnificent

February 12, 2024 by EnergyNow Media

Tesla is by far the worst performer in the Magnificent Seven index this year Bloomberg News If you’re building a list of the most important stocks in the market, Tesla Inc. has to be on it. Or does it? That’s part of a growing debate on Wall Street, where shares of Elon Musk’s electric-vehicle maker are tanking as the … Read more

U.S. Natgas Price to Average Higher in 2024 and 2025 – EIA

February 12, 2024 by EnergyNow Media

The U.S. natural gas spot price is projected to average higher in 2024 and 2025 compared with last year but will remain below the $3.00-per-million British thermal units (MMBtu) mark, the U.S. Energy Information Administration (EIA) said on Monday. “We forecast increases in natural gas prices as demand for natural gas grows faster than supply … Read more

Oil Slips After Rally Last Week on Middle East, Right Supply

February 12, 2024 by EnergyNow Media

(Reuters) – Oil prices slipped on Monday as investors indulged in some profit-taking after both benchmarks ended last week about 6% higher on Middle East tensions and as refining outages squeezed refined products markets. Brent crude futures were down 82 cents, or about 1%, at $81.37 a barrel, while U.S. West Texas Intermediate crude futures … Read more

Saudi Minister Says Energy Transition Behind Aramco Capacity Halt

February 12, 2024 by EnergyNow Media

(Reuters) – Saudi Arabia decided to halt its oil capacity expansion plans because of the energy transition, its energy minister said on Monday, adding that the kingdom has plenty of spare capacity to cushion the oil market. The Saudi government on Jan. 30 ordered state oil company Aramco to halt its oil expansion plan and to target … Read more

How Does Canada Rate? INFOGRAPHIC: Ten Years of Natural Gas Flaring – ENERGYminute

February 12, 2024 by EnergyNow Media

By Aaron Foyer Global gas flaring is the process of burning off unwanted natural gas in the atmosphere during oil and gas production. This practice occurs for a variety of reasons, including safety, lack of infrastructure to capture the gas, regulatory practices, or economic factors. Gas flaring has significant environmental and economic implications. Environmental Impact … Read more

Lessons From Rising Tide of Indigenous Ownership in Canadian Oil and Gas Shared in Norway

February 12, 2024 by EnergyNow Media

IRN executive director John Desjarlais says sharing success stories reflects Indigenous peoples’ values of kinship and reciprocity By Deborah Jaremko Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Indigenous Resource Network executive director John Desjarlais (right) and Norwegian prime minister Jonas Gahr Støre speak at the Arctic Frontiers Conference … Read more

Enbridge Sees ‘Tailwind’ for its Mainline System as Trans Mountain Faces Delays

February 12, 2024February 12, 2024 by The Canadian Press

CALGARY — Enbridge Inc. could benefit from increased volumes on its Mainline oil pipeline network if the startup of the Trans Mountain pipeline expansion is significantly delayed, the Calgary-based energy infrastructure firm said Friday.
Enbridge, lik…

Diamondback Energy to Buy Endeavor in $26 billion Deal to Create a Permian Drilling Giant

February 12, 2024February 12, 2024 by The Canadian Press

Diamondback Energy will buy rival Endeavor Energy Resources in a cash-and-stock deal valued at about $26 billion to create a drilling giant in the Southwest United States.
The transaction includes approximately 117.3 million shares of D…

SCOVAN IGNITE V7: Bridging the Gap

February 12, 2024 by EnergyNow Media

Scovan is excited to share the seventh edition of IGNITE with you. Read about how we are bridging the gap between the challenges of today and our vision for the future. READ IT HERE

Software for Your Operation: Providing your workforce with an integrated, customizable mobile solution to efficiently manage operations.

February 12, 2024 by EnergyNow Media

At Muddy Boots Inc. 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 your people using the same … Read more

Westech Industrial Ltd. Partners with ABB to Distribute Flame Scanner Products Across Canada

February 12, 2024 by EnergyNow Media

Westech Industrial Ltd., a premier provider of comprehensive industrial solutions, proudly announces its partnership with ABB, a global leader in electrification and automation technologies. This collaboration designates Westech as the only authorized distributor of ABB’s Flame Scanner products in Eastern Canada, with distribution rights extending throughout the entire country. For over 55 years, Westech Industrial … Read more

Honda Talks Test Canada’s Desire to Move Away from Blockbuster EV Subsidies

February 12, 2024February 12, 2024 by EnergyNow Media

Ottawa to negotiate with Honda over potential new EV battery plant in Canada Bloomberg News Brian Platt and Mathieu Dion The Honda CRV production line at a manufacturing plant in Alliston, Ont., 2023. PHOTO BY COLE BURSTON/THE CANADIAN PRESS FILES Last year, Trudeau’s government signed three unprecedented contracts to match production subsidies being offered to companies … Read more

U.S. Drillers Add Oil and Gas Rigs for Third Time in Four Weeks – Baker Hughes

February 12, 2024February 12, 2024 by EnergyNow Media

U.S. energy firms this week added oil and natural gas rigs for the third time in four weeks, 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 by 4 to 623 in the week to Feb. 9, its … Read more

Energy M&A Boom Is Just Getting Started, Enbridge CEO Ebel Says

February 12, 2024February 12, 2024 by EnergyNow Media

The surge in energy industry mergers and acquisitions — marked by a series of megadeals among oil producers last year — is set to ramp up further in 2024 as interest rates decline, Enbridge Inc. Chief Executive Officer Greg Ebel said. “As interest rates start to peak and perhaps come down — who knows exactly when that’s going to … Read more

Like Him or Not, Donald Trump Is the U.S. Oil and Gas Industry’s Top Choice for President

February 12, 2024February 12, 2024 by EnergyNow Media

Trump raised millions from oil donors in final months of 2023 Industry says production boom happened despite Biden policies Bloomberg Donald Trump is the oil and gas industry’s undisputed top pick for the Republican presidential nomination as energy sector donors shower his candidacy with nearly 10 times the amount of money as they gave his challenger Nikki … Read more

Alberta NDP Leadership Candidate Says Federal Carbon Levy is ‘Dead’ – “Justin Trudeau Played Dirty Politics With It”

February 12, 2024February 11, 2024 by The Canadian Press

CALGARY — Alberta’s former deputy premier entered the province’s NDP leadership Sunday with criticism of the federal carbon levy and Prime Minister Justin Trudeau.
Sarah Hoffman, who was deputy premier when the NDP was elected in 2015, joins fellow le…

Canada’s LNG, The Cleanest in the World

February 10, 2024February 10, 2024 by EnergyNow Media

Resource Works – See More Stories from Resources Works Here President Biden’s halt on new U.S. LNG projects offers Canada a chance to showcase its commitment to producing exceptionally clean LNG, highlighting innovative approaches to environmental sustainability and economic growth in the industry. President Joe Biden’s freeze on approvals of new U.S. LNG-for-export projects has … Read more

Heavy Oil Discount Narrows Within Recent Range

February 10, 2024February 10, 2024 by EnergyNow Media

The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) tightened slightly on Friday. WCS for March delivery in Hardisty, Alberta, settled at $19.25 a barrel under WTI, according to brokerage CalRock, having closed at $19.55 per barrel below the U.S. benchmark on Thursday. Canadian heavy crude … Read more

U.S. Government Announces Intent to Fund Methane Reduction Projects

February 10, 2024February 10, 2024 by EnergyNow Media

The U.S. Environmental Protection Agency (EPA) and the Department of Energy (DOE) released a notice of intent on Friday to help fund projects aimed at reducing methane emissions from the oil and gas sectors. The notice was issued to give applicants enough time to prepare their proposals and form partnerships if needed in anticipation of … Read more

Enbridge reports record 2023 financial results, reaffirms 2024 financial guidance and advances strategic priorities

February 9, 2024 by EnergyNow Media

CALGARY, AB, Feb. 9, 2024 /CNW/ – Enbridge Inc. (Enbridge or the Company) (TSX:ENB) (NYSE:ENB) today reported fourth quarter 2023 financial results, reaffirmed its 2024 financial guidance and provided a quarterly business update. Highlights (All financial figures are unaudited and in Canadian dollars unless otherwise noted. * identifies non-GAAP financial measures. Please refer to Non-GAAP Reconciliations Appendices.) Full year GAAP … Read more

Danielle Smith Goes to Washington: Alberta’s Premier Smith Sees U.S. LNG Export Pause as Opportunity

February 9, 2024 by EnergyNow Media

Smith pushes to expand LNG exports during Washington visit Canada’s first LNG export plant scheduled to start in 2025 Bloomberg President Joe Biden’s decision to pause approval of new liquefied natural gas export licenses is an opportunity for Canada as the country prepares to start exporting the fuel, Alberta’s premier said. “I note, with interest, that … Read more

Enbridge reports $1.73B fourth-quarter profit compared with loss a year earlier

February 9, 2024February 9, 2024 by The Canadian Press

CALGARY — Enbridge Inc. reported a profit of $1.73 billion in its fourth quarter compared with loss a year earlier when it took a large non-cash goodwill impairment charge.
The company says the profit amounted to 81 cents per share for the quarter end…

Enbridge Misses Fourth-Quarter Profit Estimates on Lower Mainline Tolls

February 9, 2024 by EnergyNow Media

(Reuters) – Pipeline operator Enbridge missed fourth-quarter profit estimates on Friday, hurt by lower tolls related to its Mainline crude pipeline system and a decrease in earnings from the company’s gas segment. Enbridge reached a toll agreement for Mainline with oil shippers last year, which was lower than the previous one, after scrapping earlier plans for … Read more

Oil Settles Up, Notches Weekly Gain on Tight Supply, Middle East Conflict

February 9, 2024February 9, 2024 by EnergyNow Media

Summary Israeli forces intensify strikes on city of Rafah Russia crude exports up this month after refinery attacks Product futures rise on tight supply, refinery outages Feb 9 (Reuters) – Oil prices settled higher on Friday, up about 6% on a week-on-week basis, as worries about supply from the Middle East mounted and as reining … Read more

Protectionist Policy Promises in U.S. election Will be a Challenge: Alberta Premier

February 9, 2024February 9, 2024 by The Canadian Press

WASHINGTON — Premier Danielle Smith says no matter the outcome of the United States election, there will be challenges for Canada and Alberta.
She said both President Joe Biden and former president Donald Trump have policies that could harm or restric…

Gibson Energy recognized as safety and ESG leader for third consecutive year

February 9, 2024 by EnergyNow Media

CALGARY, AB, Feb. 8, 2024 /CNW/ – Gibson Energy Inc. (“Gibson” or the “Company”) is pleased to announce another outstanding year as a leader in safety and environmental, social and governance (“ESG”) performance. The Company has maintained top quartile safety performance among North American peers and has continued to be recognized for its unwavering commitment to sustainability and strong … Read more

Oil Investors are Adrift in Red Sea Rip Currents

February 9, 2024February 9, 2024 by EnergyNow Media

(The authors are Reuters Breakingviews columnists. The opinions expressed are their own.) By George Hay and Yawen Chen LONDON, Feb 9 (Reuters Breakingviews) – Geopolitical tensions in the Middle East aren’t registering with the oil market. Two years ago this month, the price of a barrel of Brent crude rocketed 30% to $120 in the … Read more

ARC Resources Ltd. Reports Record Production, Year-end Results and Reserves

February 9, 2024 by EnergyNow Media

CALGARY, AB, Feb. 8, 2024 /CNW/ – (TSX: ARX) ARC Resources Ltd. (“ARC” or the “Company”) today reported its fourth quarter and year-end 2023 financial and operational results as well as its year-end 2023 reserves. HIGHLIGHTS Fourth Quarter 2023 Results Fourth quarter production averaged 365,248 boe(1)(2) per day (63 per cent natural gas and 37 per cent crude … Read more

Heavy Oil Discount Widens

February 9, 2024 by EnergyNow Media

The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened on Thursday: WCS for March delivery in Hardisty, Alberta, settled at $19.55 a barrel under WTI, according to brokerage CalRock, having closed at $19.15 per barrel below the U.S. benchmark on Wednesday. Canadian heavy crude differentials … Read more

Crew Energy announces 2023 reserves, 2024 capital budget and guidance

February 9, 2024 by EnergyNow Media

CALGARY, Alberta, Feb. 08, 2024 (GLOBE NEWSWIRE) — Crew Energy Inc. (TSX: CR; OTCQB: CWEGF) (“Crew” or the “Company”), a growth-oriented natural gas weighted producer operating in the world-class Montney play in northeast British Columbia (“NE BC”), is pleased to announce the results of our year-end 2023 independent reserves evaluation along with our 2024 capital expenditure budget … Read more

Whooping Crane Recovery Program Receives a Lift From Canada’s Largest Oil and Gas Producer

February 9, 2024February 9, 2024 by EnergyNow Media

‘By working together, we can more effectively mitigate risks to and support the recovery of this iconic bird’ By Will Gibson Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter A whooping crane chick hatched by the Wilder Institute/Calgary Zoo on August 1, 2023. Since 1994, Calgary zookeepers have successfully hatched … Read more

Shale Producer Devon Energy in Bid to Acquire Enerplus – Sources

February 9, 2024February 9, 2024 by EnergyNow Media

U.S. oil and gas producer Devon Energy has approached Enerplus, a peer with a market value of C$3.9 billion ($2.9 billion), with an acquisition offer, people familiar with the matter said on Thursday. Such a combination would continue the dealmaking spree seen in the North American oil patch in recent months, which has included many … Read more

OPEC+ Oil Cut Decision Is Really No Choice at All

February 9, 2024February 9, 2024 by EnergyNow Media

With prices dropping during the four months since Hamas attacked Israel, producers will need to stick with current curbs. The Organization of Petroleum Exporting Countries’ headquarters in Vienna.Photographer: Bloomberg OPEC+ plans to decide in the coming weeks on extending oil supply cutbacks into the second quarter. But its choice looks like an open-and-shut case. Saudi Arabia and its allies … Read more

COMMENTARY: Charlie Angus’ Bill to Ban Fossil Fuel Information and Advertising is a Joke – Lilley

February 9, 2024February 9, 2024 by EnergyNow Media

Originally Published in the Toronto Sun Follow Brian Lilley If you speak up in favour of the fossil fuel industry, NDP MP Charlie Angus wants to send you to jail.The MP for Timmins-James Bay, an area that relies on fossil fuels to stay warm this time of year, just introduced one of the craziest private … Read more

Operations Start at New Emissions-Reducing Oil Sands Project

February 9, 2024February 9, 2024 by EnergyNow Media

By Deborah Jaremko Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Photo courtesy Imperial Oil Cold Lake/Facebook The first oil sands project using a technology designed to reduce emissions per barrel by nearly half is officially up and running. Imperial Oil CEO Brad Corson confirmed the company started operations … Read more

Enbridge Appeals to Vacate an Order That Would Shut Down its Pipeline

February 9, 2024February 9, 2024 by EnergyNow Media

MADISON, Wis. (AP) — An attorney for the energy company Enbridge tried to persuade a federal appellate court Thursday to vacate an order that would shut down part of a pipeline running through a Wisconsin tribal reservation. The company contends that U.S. District Judge William Conley improperly ordered Enbridge to shut down a 12 mile (19 km) … Read more

Schachter’s Eye on Energy: Crude Oil War Premium Shrinks US$6/b Over The Last Week As US Does Not Hit Iran Directly.

February 9, 2024February 9, 2024 by EnergyNow Media

Regulator Calls Out Trans Mountain for ‘Environmental Non-Compliance’ in B.C.

February 8, 2024February 8, 2024 by The Canadian Press

CALGARY — The company building the Trans Mountain pipeline expansion has been cited for environmental non-compliance related to its management of recent flooding in B.C.
The Canada Energy Regulator said Thursday its inspection officers found issues n…

Greenfire Resources announces TSX listing and approval to commence trading on February 8, 2024, provides release timing for 2024 outlook and conference call

February 8, 2024 by EnergyNow Media

Calgary, Alberta–(Newsfile Corp. – February 7, 2024) – 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 that the Company’s common shares are expected to commence trading on the Toronto Stock … Read more

Argo December 2023 Oil Production

February 8, 2024 by EnergyNow Media

Toronto, Ontario–(Newsfile Corp. – February 8, 2024) – Argo Gold Inc’s. (CSE: ARQ) (OTC Pink: ARBTF) (XFRA: A2ASDS) (XSTU: A2ASDS) (XBER: A2ASDS) (“Argo” or the “Company“) oil December 2023 oil production reached a record of 3,980.5 barrels for the month, averaging 128.4 barrels per day. Despite low oil prices averaging CDN$43.55 per barrel, Argo’s December oil revenue was $173,333 and net operating cash flow was … Read more

Enterprise Group Announces Results for the Fourth Quarter of 2023

February 8, 2024February 8, 2024 by EnergyNow Media

February 07, 2024 8:00 AM EST | Source: Enterprise Group Inc. St. Albert, Alberta–(Newsfile Corp. – February 7, 2024) – Enterprise Group, Inc. (TSX: E) (OTCQB: ETOLF) (the “Company” or “Enterprise”), a consolidator of services to the energy sector that is focused primarily on specialized equipment rental, today released its Q4 2023 and FY 2023 unaudited … Read more

Oil Rises on Gaza Ceasefire Rejection and U.S. Stock Data

February 8, 2024 by EnergyNow Media

(Reuters) – Oil prices gained ground on Thursday as investors considered the impact of Israel’s rejection of a ceasefire offer from Hamas and unexpected drops in U.S. fuel stocks. Brent crude futures rose 81 cents, or 1.02%, to $80.02 a barrel by 1239 GMT. U.S. West Texas Intermediate crude futures were up 72 cents, or … Read more

Heavy Oil Discount Tightens

February 8, 2024February 8, 2024 by EnergyNow Media

The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) narrowed slightly on Wednesday: * WCS for March delivery in Hardisty, Alberta, settled at $19.15 a barrel under WTI, according to brokerage CalRock, having closed at $19.45 per barrel below the U.S. benchmark on Tuesday. * Despite … Read more

Navigating the Skilled Labor Dilemma: Sideworx Connect, Your Trusted Workforce Solution

February 22, 2024February 8, 2024 by EnergyNow Media

In an era where the demand for highly skilled labor is the cornerstone of success in critical sectors like Oil & Gas, Mining, Construction, and Agriculture, securing a dependable workforce stands as the pivotal challenge. Enter Sideworx Connect, a trailblazing staffing and workforce solutions powerhouse, armed with an expansive talent pool poised to meet the … Read more

The Canadian Association of Energy Contractors (CAOEC) opposes Bill C-372, Fossil Fuel Advertising Act.

February 8, 2024February 8, 2024 by EnergyNow Media

CAOEC strongly opposes Bill C-372, Fossil Fuel Advertising Act, introduced by Mr. Charlie Angus, Member of Parliament from Timmins—James Bay (Ontario). The Bill proposes to prohibit the advertisement of Canadian oil and gas. “CAOEC is disappointed by the lack of knowledge surrounding the energy issues that Canadians and many countries face. This Bill would impede … Read more

NORD STREAM: What’s Known About the Mystery Pipeline Explosions?

February 7, 2024 by EnergyNow Media

STOCKHOLM, Feb 7 (Reuters) – Sweden announced on Wednesday that it had dropped its investigation into the explosions in 2022 on Nord Stream pipelines carrying Russian gas to Germany and had handed evidence it had uncovered over to German investigators. Here is what we know so far about the blasts, which destroyed three out of four pipelines, … Read more

ExxonMobil to explore for oil and gas in offshore area under dispute by Guyana and Venezuela

February 7, 2024February 7, 2024 by The Canadian Press

GEORGETOWN, Guyana (AP) — ExxonMobil said it plans to explore for oil and gas in a disputed area off South America’s coast where the Venezuelan military had previously expelled two U.S. oil companies. The move could escalate tensions between Venezuela…

Tractor Jam in the Streets of Europe – ENERGYminute

February 7, 2024 by EnergyNow Media

Farmers rioting in Paris courtesy of the Associated Press The streets of Paris have been transformed from très chic to ‘tractor chic’ as farmers increasingly challenge European sustainability laws over the past few weeks. What happened: Tractors have been piling up on autobahns as farmers protest in a number of European cities. Spain just joined the protest country list which … Read more

COMMENTARY: A Pinch of Salt Could Unsettle Electric-Car Order

February 7, 2024 by EnergyNow Media

a pinch of salt could unsettle electric car order 1200x810

By Katrina Hamlin Table salt is pictured in this illustration following the Food and Drug Administration’s new guidelines for sodium intake in the Manhattan borough of New York City, New York, U.S., October 13, 2021. REUTERS/Carlo Allegri/Illustration HONG KONG, Feb 7 (Reuters Breakingviews) – It is a truth only recently acknowledged by Tesla (TSLA.O) CEO Elon … Read more

Big Oil Offers Record Returns to Lure Investors back

February 7, 2024 by EnergyNow Media

Summary Sector offered record returns of $111 bln in 2023 Yet profits dropped sharply from 2022’s peak Boards promise discipline, stability amid uncertain outlook (Reuters) – Big Oil firms are handing shareholders more money than ever and are promising more going forward in an attempt to reassure investors of their discipline and resilience in the … Read more

Oil Up on Lower-Than-Expected Rise in U.S. Crude Stockpiles

February 7, 2024 by EnergyNow Media

Summary U.S. crude stocks rose 670,000 bbl last week – API US EIA cuts oil output growth forecast for 2024 Gaza war ceasefire talks continue Coming: EIA weekly data at 10:30 a.m. (1530 GMT) LONDON, Feb 7 (Reuters) – Oil prices rose for a third day on Wednesday after U.S. crude inventories grew less than … Read more

Sweden Ends Nord Stream Sabotage Probe, Hands Evidence to Germany

February 7, 2024 by EnergyNow Media

Sweden ends Nord Stream sabotage probe, hands evidence to Germany Summary Sweden says no evidence its citizens involved in blasts Plans to hand information it has gathered over to Germany Russia says it is watching to see what Germany does STOCKHOLM, Feb 7 (Reuters) – Sweden on Wednesday dropped its investigation into the explosions in … Read more

U.S. Permian Deal Frenzy Adds to Lower Oil Output Growth in 2024

February 7, 2024 by EnergyNow Media

(Reuters) – Oil production in the prodigious Permian shale basin in Texas and New Mexico this year will see the slowest annual growth since 2021, according to market participants, as a slew of acquisitions reduces activity among private drillers. Reduced growth in the Permian, the largest U.S. oilfield, will be a drag on overall gains … Read more

Weatherford Announces Fourth Quarter and Full Year 2023 Results

February 7, 2024 by EnergyNow Media

Fourth quarter revenue of $1,362 million increased 4% sequentially and 13% year-over-year; full year revenue of $5,135 million, increased 19% from prior year, driven by international revenue growth of 26% Fourth quarter operating income of $216 million decreased 1% sequentially and increased 28% year-over-year; full year operating income of $820 million, increased 99% from prior … Read more

Europe Oil Product Markets Hurting as Red Sea Attacks Delay Deliveries, IEA Exec Says

February 7, 2024 by EnergyNow Media

Delays in oil product deliveries due to ships being diverted avoid attacks in the Red Sea are impacting product markets in Europe in particular, an International Energy Agency executive said on Wednesday. “We’re currently seeing a difficult situation with respect to the Red Sea and the Suez canal,” Keisuke Sadamori, IEA’s director of energy markets … Read more

Transformed & restructured Prospera transitioning to profitability in 2024

February 7, 2024 by EnergyNow Media

CALGARY, Alberta, Feb. 07, 2024 (GLOBE NEWSWIRE) — Prospera Energy Inc. (“Prospera” or the “Company”) (TSX.V: PEI, OTC: GXRFF, FRA: OF6B, OF6B.SG, OF6B.F, OF6B.BE) Since 2021 Q1, Restructured Prospera has methodically executed the planned development phases and attained drilling results exceeding expectations and substantiating the technical and economical applications. The nine heavy oil horizontal drills and one medium light … Read more

Athabasca Oil Announces Closing of “Duvernay Energy Corporation” with Cenovus Energy and Provides Updated 2024 Guidance

February 7, 2024 by EnergyNow Media

CALGARY, Alberta, Feb. 06, 2024 (GLOBE NEWSWIRE) — Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or “the Company”) is pleased to announce it has closed its previously announced transaction agreements (“Transaction”) to create Duvernay Energy Corporation (“Duvernay Energy”) with Cenovus Energy Inc. (“Cenovus”). Transaction Overview Duvernay Energy is a privately held subsidiary of Athabasca. Athabasca and Cenovus have contributed … Read more

Heavy Oil Discount Widens

February 8, 2024February 7, 2024 by EnergyNow Media

The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) deepened on Tuesday: * WCS for March delivery in Hardisty, Alberta, settled at $19.45 a barrel under WTI, according to brokerage CalRock, having closed at $18.85 per barrel below the U.S. benchmark on Monday. * Canadian heavy … Read more

DIMATE PACS at MiRO: Digital NDT in Germany’s Largest Refinery

February 7, 2024 by EnergyNow Media

Every three years, one of MiRO’s two major plant sections is shut down for extensive inspection and maintenance work. This is a good time to examine the potential for optimizing processes and margins. The result of the last major shutdown: the NDT processes in Germany’s largest refinery should become digital in order to increase quantity, … Read more

WHITE PAPER: Rebuild Or Buy New? An In-Depth Cost Analysis for Cat® Gas Compression Engines

April 12, 2024February 7, 2024 by EnergyNow Media

VIEW PDF VERSION HERE After Years of Reliable Service, Your Caterpillar 3500 Or 3600 Gas Compression Engine Fails. What’s The Next Step? Do You Rebuild or Invest in A New Unit? Every decision-maker battles this balance: cost versus benefits, budget and timing. A comprehensive, cost-effective rebuild can restore your existing engine to like-new condition. A … Read more

‘A Cap Will Not Be Tolerated’: Alberta Files Formal Response to Proposed Oil Sands Emissions Cap, Smith Opens Alberta Office in Ottawa

February 7, 2024February 7, 2024 by The Canadian Press

danielle smith 1200x810 standing up for alberta feb 5 2024

Alberta and two prominent business groups have released formal responses to a proposed federal emissions cap as the province’s environment minister was slated to meet with her federal counterpart.
“This cap is not realistic or effective, will not ach…

WIND WARNING: Wind Power Giants See Little Shelter From Sector Troubles

February 7, 2024February 7, 2024 by EnergyNow Media

windfarm in rural alberta canada’s trade in renewable energy products cec 1200x810

Summary Siemens Energy, Vestas, Orsted all report results Results reflect ongoing problems in maturing wind sector Orsted cuts jobs, Vestas scraps dividend FRANKFURT/COPENHAGEN, Feb 7 (Reuters) – The world’s three biggest wind power groups on Wednesday gave a sober view of the year ahead for an industry buffeted by project delays, equipment problems and inflation. … Read more

Athabasca, Cenovus Close Creation of New Duvernay Energy Corp. Joint Venture

February 7, 2024February 6, 2024 by The Canadian Press

athabasca cenovus joint venture 1200x810

CALGARY — Athabasca Oil Corp. and Cenovus Energy Inc. have closed a previously announced deal creating a new joint venture stand-alone company called Duvernay Energy Corp.
The new Duvernay Energy is a privately held subsidiary of Athabasca that consol…

Advantage announces operational update including record production and reduced capital spending outlook

February 6, 2024 by EnergyNow Media

CALGARY, AB, Feb. 6, 2024 /CNW/ – Advantage Energy Ltd. (“Advantage”, the “Corporation”, “us”, “we” or “our”) is pleased to provide an operational update. Advantage had another year of exceptional results in 2023, including record fourth-quarter production of 68,384 boe/d (363.1 MMcf/d natural gas, 3,254 bbls/d crude oil, 1,264 bbls/d condensate and 3,345 bbls/d NGLs) and record monthly production … Read more

U.S. Natgas Output and Demand to Hit Record Highs in 2024 – EIA

February 6, 2024 by EnergyNow Media

U.S. natural gas production and demand will rise to record highs in 2024, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday. The EIA projected dry gas production will rise to 104.37 billion cubic feet per day (bcfd) in 2024 and 106.46 bcfd in 2025 from a record … Read more

U.S. Crude Production to Rise to 13.21 Million Bpd in 2024 – EIA

February 6, 2024 by EnergyNow Media

U.S. crude oil production will rise to 13.21 million barrels per day (bpd) in 2024 the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday, which lowered expectation for U.S. crude growth by 120,000 bpd. The EIA projected that crude production will rise by 170,000 bpd this year; down … Read more

Enterprise Group Inc. to Announce Unaudited Preliminary Financial Results for Q4 and Year End 2023

February 6, 2024 by EnergyNow Media

St. Albert, Alberta–(Newsfile Corp. – February 6, 2024) – 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), emphasizes technologies that mitigate, reduce, or eliminate CO2 and Green House Gas (GHG) emissions for small local and Tier One global … Read more

Saturn Oil & Gas Inc. announces fully-funded 2024 corporate guidance highlighted By $180 million of debt reduction while maintaining production and a $50 million bought deal private placement financing led by strategic U.S. institutional investors

February 6, 2024 by EnergyNow Media

CALGARY, AB, Feb. 6, 2024 /CNW/ – Saturn Oil & Gas Inc. (TSX: SOIL) (FSE: SMKA) (OTCQX: OILSF) (“Saturn” or the “Company“) is pleased to announce the Company’s 2024 capital and operating budget reflecting a focus on maximizing near term free funds flow(1), continued rapid debt repayment, sustainable oil and gas production with high returns on capital investment. HIGHLIGHTS … Read more

Gear Energy Ltd. announces completion of the strategic repositioning process and intention to commence normal course issuer bid

February 6, 2024 by EnergyNow Media

Calgary, Alberta–(Newsfile Corp. – February 6, 2024) – Gear Energy Ltd. (TSX: GXE) (OTCQX: GENGF) (“Gear” or the “Company”) announces that the strategic repositioning process has now been completed with the Board of Directors unanimously concluding that the various alternatives presented were not reflective of the Company’s underlying value nor compelling relative to the Company’s stand-alone prospects … Read more

Venezuela Oil Industry Fears Losing Ground if U.S. Revives Sanctions

February 6, 2024 by EnergyNow Media

Firms fret reestablished links with US suppliers may be halted January oil output rose 22% from prior year as sanctions eased Venezuelan President Nicolás Maduro is betting the US won’t revive all of its sanctions as he backslides on a promise of free elections. Inside the nation’s oil industry, local operators are worried he’s wrong. Oil and … Read more

Precision Drilling Reports 2023 Fourth Quarter and Year-End Unaudited Financial Results

February 6, 2024 by EnergyNow Media

CALGARY, Alberta, Feb. 06, 2024 (GLOBE NEWSWIRE) — This news release contains “forward-looking information and statements” within the meaning of applicable securities laws. For a full disclosure of the forward-looking information and statements and the risks to which they are subject, see the “Cautionary Statement Regarding Forward-Looking Information and Statements” later in this news release. … Read more

With Solar Industry in Crisis, Europe in a Bind Over Chinese Imports

February 6, 2024 by EnergyNow Media

Summary EU heavily reliant on Chinese solar panel imports Some European solar manufacturers on brink of collapse Governments, industry split over how to help Europe wants to grow local clean tech manufacturing STRASBOURG, France/LONDON, Feb 6 (Reuters) – Europe’s green energy transition is stuck between a rock and a hard place. A flood of cheap … Read more

U.S. Lawmakers Hold First of Two Hearings on Biden’s LNG Pause

February 6, 2024 by EnergyNow Media

US lawmakers hold first of two hearings on Biden’s LNG pause (Reuters) – As Republican and some Democratic U.S. lawmakers slam President Joe Biden’s pause on approvals of exports of liquefied natural gas (LNG) a House subcommittee will hold a hearing on the issue on Tuesday, the first of two in Congress this week. The House Energy, … Read more

Oil Gains as Gaza Ceasefire Talks in Focus

February 6, 2024 by EnergyNow Media

Summary Markets monitoring Gaza ceasefire talks POLL-U.S. crude stocks likely rose last week Coming up: API data on U.S. crude stocks at 4:30 p.m. ET (Reuters) – Oil prices maintained upward momentum on Tuesday as investors awaited the result of top U.S. diplomat Antony Blinken’s efforts in the Middle East to halt the Gaza war … Read more

Heavy Oil Discount Weakens Slightly

February 6, 2024 by EnergyNow Media

The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened marginally on Monday. WCS for March delivery in Hardisty, Alberta, settled at $18.85 a barrel under WTI, according to brokerage CalRock, having closed at $18.70 per barrel below the U.S. benchmark on Friday. Canadian heavy crude … Read more

Questerre Appoints Jauvonne Kitto to the Board

February 7, 2024February 6, 2024 by EnergyNow Media

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, Feb. 06, 2024 (GLOBE NEWSWIRE) — Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) is pleased to announce that Ms. Jauvonne Kitto has joined the Board of Directors of … Read more

Precision Drilling Reports $146.7M Q4 Profit, Revenue Edged Lower

February 6, 2024February 6, 2024 by The Canadian Press

CALGARY — Precision Drilling Corp. says it earned $146.7 million in its latest quarter, up from a profit of $3.5 million a year earlier, as its revenue edged lower.
The company says the profit amounted to $9.81 per diluted share for the quarter ended …

Colorado Fines Suncor US$10.5 Million for Air Pollution Violations

February 5, 2024February 5, 2024 by The Canadian Press

DENVER — The state of Colorado is fining Suncor Energy Inc. US$10.5 million for air pollution violations.
In a news release, the Colorado Department of Public Health and Environment says the fine concerning Suncor’s Commerce City refinery is for viola…

Rare Earths Prices Seen Rebounding in Second Half of 2024

February 5, 2024 by EnergyNow Media

(Reuters) – Rare earth prices have likely bottomed out and are poised to rise later this year on demand from electric vehicles (EVs) and wind power and as dominant producer China is expected to pull back on expanding output quotas, analysts said. Rare earths are a group of 17 elements used in products from lasers … Read more

Canada’s Energy Story 2023 – Fueling the Future: The Transformative Power of Hydrogen

February 5, 2024 by EnergyNow Media

The Energy Council of Canada is pleased to announce the release of Canada’s Energy Story 2023. This year’s edition is titled Fueling the Future: The Transformative Power of Hydrogen. Canada’s Energy Story 2023 offers a fresh look at a traditional product. Hydrogen is certainly not new to Canada. We are already the 10th largest producer in … Read more

Oil Investors Try to Get Bullish as Global Economy Improves: John Kemp

February 5, 2024 by EnergyNow Media

Portfolio investors raced to build bullish positions in petroleum at the end of January amid signs the business cycle slowdown is coming to an end and fears about attacks on tankers near southwestern Arabia. Hedge funds and other money managers purchased the equivalent of 97 million barrels in the six most important petroleum futures and … Read more

Highwood Asset Management Ltd. provides operational update, including 1,000 BBL/day light oil well at Wilson Creek and reiterates 2024 guidance

February 5, 2024 by EnergyNow Media

CALGARY, AB, Feb. 5, 2024 /CNW/ – Highwood Asset Management Ltd., (“Highwood” or the “Company“) (TSXV: HAM) is pleased to announce an operational update, including a 1,000 bbl/day light oil well with its inaugural stage frac wells at Wilson Creek, and to reiterate its 2024 guidance. Operational Update Highwood recently brought online its second well at Wilson Creek, the 100/03-04-043-05W5 … Read more

INFOGRAPHIC: What Are Fossil Fuel Subsides? – ENERGYminute

February 5, 2024 by EnergyNow Media

By Cody Good Governments often provide fossil fuel subsidies to, typically, make energy costs more affordable for consumers. These subsidies are of two types: explicit and implicit. Explicit subsidies are direct financial supports, such as tax breaks or price controls, that reduce the cost of fossil fuels to consumers or producers. Implicit subsidies, on the … Read more

COMMENTARY: Go Electric, BC? Hang on a Minute… – Margareta Dovgal, Resource Works

February 9, 2024February 5, 2024 by EnergyNow Media

Resource Works – See More Stories from Resources Works Here Resource Works Margareta Dovgal on B.C. Climate Policies, and Their Implications. In the midst of a memorable polar cold snap in January, British Columbia faced a stark reality that should serve as a valuable lesson for climate activists and policymakers alike. As Stewart Muir, the … Read more

Supersized Marine Oil Spill Response Vessel Arrives in B.C. as Part of Trans Mountain Expansion

February 5, 2024 by EnergyNow Media

Delivery of the K.J. Gardner is one of the final pieces of the biggest expansion of oil spill response in Canadian history By Mario Toneguzzi Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Canada’s largest-ever marine spill response vessel is now on the coast of British Columbia. The vessel … Read more

Asia LNG Imports are Robust, But Record Supply Keeps Spot Prices Muted

February 5, 2024 by EnergyNow Media

(Reuters) – The spot price of liquefied natural gas (LNG) is continuing to meander at low levels amid ample supply from major exporters and signs that winter demand is easing in the top-importing regions of Asia and Europe. The spot price for LNG delivered to north Asia ended at $9.60 per million British thermal units … Read more

Oil Steady as Mideast Strikes Compete with Rate Cuts Caution

February 5, 2024 by EnergyNow Media

Summary Positive U.S. jobs report could delay rate cuts US plans further strikes against Iran-backed groups Ukraine hits Russia’s Volgograd refinery in latest drone attack (Reuters) – Oil prices were steady on Monday following sharp falls last week, after Washington pledged to launch further strikes on Iran-backed groups in the Middle East and a strong … Read more

Alberta’s Budget-Deficit Balance Act – How High Resource Revenues Make All the Difference

February 5, 2024 by EnergyNow Media

The Alberta government projects a $5.5 billion budget surplus in 2023/24, fuelled by historically high resource revenue. However, Alberta’s surplus could quickly spiral into a deficit when resource revenue declines. This fiscal risk is the result of a familiar pattern. During periods of relatively high resource revenue the provincial government increases spending, but does not … Read more

Engineering Excellence – What’s the Secret Sauce?

February 5, 2024 by EnergyNow Media

Making the right decisions at the right time and mitigating risk is nothing new to energy industry professionals. There will be lots of decisions to make in 2024 and beyond as the energy industry transforms. For example, the energy industry in the U.S., and indirectly in Canada and globally, is about to witness changes as … Read more

XDI Energy Solutions Real Time CT Inspection Technology Dramatically Reduces CT Failures in the Field.

February 5, 2024 by EnergyNow Media

XDI Energy Solutions is the only Coiled Tubing service provider in Canada offering Three-Dimensional, 360-degree magnetic resonance imaging inspection that gives real time updates on the condition of the coiled tube during live well operations. This is standard XDI Energy kit for our deep hole coiled tubing units. This vital service gives XDI Energy, and … Read more

Valuing Indigenous Partnerships, NCS Fluid Handling Systems Welcomes Jacqueline Greenwood as New Director of Indigenous Relations

February 5, 2024February 5, 2024 by EnergyNow Media

Join The 6th Annual and Largest Ever International Women’s Day Event

February 8, 2024February 5, 2024 by EnergyNow Media

6th Annual International Women’s Day Forum When: Tue, Mar 5, 2024 3:00 PM – 7:00 PM MST Where: Calgary Petroleum Club, 319 5 Avenue Southwest Calgary, AB T2P 0L5 Join 6th Annual and largest ever IWD event for an afternoon of courageous stories, riveting conversation and networking. IWD 2024’s theme is Inspire Inclusion an our event … Read more

Addressing the Challenge of Flame Detection in Extreme Temperatures

February 5, 2024 by EnergyNow Media

The Overlooked Hazard: Flame Detection in Harsh Environments In the energy sector, operations often extend into some of the most unforgiving environments on the planet. Here, extreme temperatures are not just a discomfort but a significant operational challenge, particularly when it comes to detecting and preventing fires. Traditional flame detection systems, while effective under normal … Read more

INFOGRAPHIC: Energy Efficiencies: EVs Versus Fuel Cell Vehicles – ENERGYminute

February 5, 2024February 5, 2024 by EnergyNow Media

Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE Electric vehicles (EVs) and fuel cell vehicles (FCVs) are both considered part of the broader category of “green vehicles” or “alternative fuel vehicles,” but they operate using different technologies and power sources. Power Source Electric Vehicle (EV): An electric vehicle is powered by electricity stored in a … Read more

Five Things to Watch for in the Canadian Business World in the Coming Week

February 5, 2024February 5, 2024 by The Canadian Press

TORONTO — Five things to watch for in the Canadian business world in the coming week:
Smith in Ottawa
Alberta Premier Danielle Smith will give a speech at an Economic Club of Canada event in Ottawa on Monday. Smith has been at odds with the federal go…

ACQUITTED: A London Judge Acquits Climate Activist Greta Thunberg of Refusing to Leave Oil Industry Conference

February 5, 2024February 5, 2024 by EnergyNow Media

LONDON (AP) — Climate activist Greta Thunberg was acquitted Friday of a charge of refusing to follow a police order to leave a protest blocking the entrance to a major oil and gas industry conference in London last year. The courtroom gallery erupted with applause as Judge John Law told Thunberg and her four co-defendants to … Read more

COMMENTARY: The Cost to Western Canada if Steven Guilbeault Copies Biden’s Assault on LNG – James Warren

February 5, 2024February 5, 2024 by EnergyNow Media

steven guilbeault cec dec 8 2023 1200x810

By Jim Warren What would it cost western Canada’s natural gas producers if the federal government does to them what it did to tidewater export opportunities for petroleum? This question became topical last week when the Biden Democrats announced they would block construction of new LNG export facilities in the US. It makes sense to … Read more

Opportunity Knocks for Canada to Become Key LNG Supplier as U.S. Pauses Projects

February 5, 2024February 5, 2024 by EnergyNow Media

“Everyone wins if Canada can get into the game.” By Cody Ciona Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Rendering courtesy Cedar LNG Canada’s emerging liquefied natural gas (LNG) industry has an opportunity to become a key supplier for energy-hungry countries in Asia and beyond following the U.S. … Read more

Canada’s Proposed Oil and Gas Emissions Cap Sends Wrong Message to Allies in Asia: Analyst

February 5, 2024February 5, 2024 by EnergyNow Media

‘We want to fill those pipelines and help Japan and Korea get off Russian supply’ By Deborah Jaremko Follow CEC on LinkedIn CEC LinkedIn Follow CEC on Facebook CEC Facebook Follow CEC on Twitter CEC Twitter Prime Minister of Japan Fumio Kishida speaks during the G7 summit at Schloss Elmau, Germany on June 26, 2022 as (L-R) Canadian Prime … Read more

U.S. Drillers Cut Oil and Gas Rigs for First Time in Three Weeks – Baker Hughes

February 5, 2024February 5, 2024 by EnergyNow Media

Feb 2 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for the first time in three weeks, energy services firm Baker Hughes (BKR.O), opens new tab said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, … Read more

Bill to Update Impact Assessment Law Coming in Spring: Wilkinson

February 5, 2024February 5, 2024 by The Canadian Press

OTTAWA — Natural Resources Minister Jonathan Wilkinson says the government will have legislation ready by the spring to fix the constitutional problems the Supreme Court has with the federal Impact Assessment Act.
The Liberals passed the act in 2019 t…

Trudeau Faces Daunting Path to Sale for Canada’s C$35 Billion Trans Mountain Pipeline

February 3, 2024February 3, 2024 by EnergyNow Media

Plan to give Trans Mountain stake to Indigenous groups stalled Oil companies object to tolls; analysts question valuation Justin Trudeau has promised one of the largest government-led asset sales in Canadian history by divesting the Trans Mountain pipeline, a huge conduit that moves crude from the province of Alberta to the west coast. But the government faces … Read more

Oil’s Week Ends With a Loss as U.S. Jobs Data Dents Hope for Near-Term Rate Cuts

February 3, 2024February 3, 2024 by EnergyNow Media

Summary U.S. employers added far more jobs in January than expected International Monetary Fund sees China economic growth slowing Whiting refinery power restored after outage (Reuters) – Oil prices fell by about 2% on Friday and were headed for weekly losses after U.S. jobs data shrank the odds of imminent interest rate cuts in the … Read more

U.S. LNG Export Pause Leaves EU, Industry at Odds Over Energy Security

February 3, 2024February 3, 2024 by EnergyNow Media

Europe will have enough gas supply for the next 10 years and thereafter despite a move by the U.S. administration to pause approvals on new liquefied natural gas (LNG) plants, EU energy officials and analysts said, dismissing industry’s warnings. Gas companies – and lobby groups who learned of the move ahead of the decision and … Read more

Once Soaring EV Stocks Now Face a Bleak Future

February 3, 2024February 3, 2024 by EnergyNow Media

Almost all electric vehicle stocks that listed in the past five years are now trading lower Bloomberg News Gone are the days of starry stock market debuts that sent valuations of electric-vehicle makers soaring. Now, floating an EV stock is only for the brave. A torrent of bad news for the sector this week confirms how far … Read more

Canada Regulator Licenses Equinor’s Offshore Oil Discovery

February 3, 2024February 3, 2024 by EnergyNow Media

A Canadian offshore oil regulator said on Friday it has licensed an oil discovery by Equinor ASA off the country’s coast, an area of around 14,900 hectares. The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) said that the oil volume from the Cambriol G-92 discovery is estimated to be 340 million barrels. Equinor owns 60% … Read more

Heavy Oil Discount Narrows Slightly to End the Week

February 3, 2024February 3, 2024 by EnergyNow Media

The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) tightened on Friday: * WCS for March delivery in Hardisty, Alberta, settled at $18.70 a barrel under WTI, according to brokerage CalRock, having closed at $19.00 per barrel below the U.S. benchmark on Thursday. * Canadian heavy … Read more

Imperial Oil reports Q4 profit down from year earlier, raises quarterly dividend

February 2, 2024February 2, 2024 by The Canadian Press

CALGARY — Imperial Oil Ltd. raised its quarterly dividend by 20 per cent as it reported a fourth-quarter profit of $1.37 billion, down from $1.73 billion a year earlier.
The company said Friday shareholders will now receive a quarterly dividend paymen…

SECURE Closes $1.075 Billion Asset Sale to Waste Connections

February 2, 2024 by EnergyNow Media

CALGARY, AB, Feb. 1, 2024 /CNW/ – SECURE ENERGY Services Inc. (“SECURE” or the “Corporation”) is pleased to announce it has closed the previously announced transaction with Waste Connections, Inc. to sell the facilities formerly owned by Tervita Corporation that were ordered to be divested by the Competition Tribunal (the “Transaction”). The Transaction will be completed by … Read more

Canadian Farmers Want Carbon Tax Relief, and What it Means For You…

February 2, 2024February 2, 2024 by EnergyNow Media

By Canada Powered by Women From PEI to the prairies, farmers across Canada are waiting with baited breath to see what will happen next with a private member’s bill that was debated in the House of Commons this week. The legislation in question, Bill C-234, would exempt farmers from paying the federal carbon tax on propane … Read more

Heavy Oil Discount Widens on Whiting Outage

February 2, 2024February 2, 2024 by EnergyNow Media

The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened on Thursday as BP shut down its Whiting, Indiana, refinery after a transformer failure caused a plant-wide power outage. The 435,000 barrel-per-day refinery is the largest in the U.S. Midwest, and a major consumer of Canadian … Read more

AIMCo Sets Up $1B Fund to Invest in Energy Transition Opportunities

February 2, 2024February 2, 2024 by The Canadian Press

EDMONTON — The Alberta Investment Management Corp. has set up a new $1-billion fund dedicated to investing in the global energy transition and decarbonization sectors.
The investment manager says the money represents new capital and investments made …

Elevating Skilled Trades in Canadian High Schools: A Call for Comprehensive Integration: Martin Socha – Surepoint Group

February 2, 2024February 2, 2024 by EnergyNow Media

View Great Career Opportunities and Apprenticeship Programs With Surepoint Group Here: From Martin Socha, Vice President Sales & Marketing at Surepoint Group In the evolving landscape of education, there exists a pressing need to reevaluate the emphasis placed on skilled trades within Canadian high schools. While the pursuit of higher education is often championed, the importance … Read more

Hydrogen Fuel Cells: The Future of Transportation? – ENERGYminute

February 2, 2024February 2, 2024 by EnergyNow Media

By Aaron Foyer Courtesy of ENERGYminute See more articles and infographics from ENERGYminute HERE Fuel cell electric vehicles (FCEVs) are powered by combining hydrogen and oxygen to create electricity. The nascent technology could eventually compete with electric vehicles to replace the internal combustion engine. The science: A catalyst separates hydrogen into protons and electrons, which split … Read more

TMX UPDATE: Trans Mountain Mulling How to Remove ‘Obstruction’ Causing Newest Construction Delay

February 2, 2024February 2, 2024 by The Canadian Press

CALGARY — The company building the Trans Mountain pipeline expansion is still working to find a solution for its latest unexpected construction challenge in B.C.
Crown corporation Trans Mountain Corp. is currently removing the section of pipe it had b…

Rising U.S. Oil Production Frustrates OPEC+ Cuts: John Kemp

February 2, 2024February 2, 2024 by EnergyNow Media

U.S. oil and gas drilling has slowed in response to the fall in prices over the last 18 months, but that has not yet translated into slower production, keeping prices under pressure. Exploration and production firms have continued to increase output despite drilling fewer wells, by concentrating on the best sites, accelerating drilling times and … Read more

Questerre Updates Next steps Following Ruling on Bill 21

February 1, 2024 by EnergyNow Media

CALGARY, Alberta, Feb. 01, 2024 (GLOBE NEWSWIRE) — In response to shareholder inquiries, Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) provided an update on upcoming events following the ruling by the Qubec Superior Court (Civil Division) last week on the Company’s application to stay key provisions of the Act ending exploration for petroleum and underground reservoirs … Read more

Lycos Energy Inc. Announces 2024 Budget

February 1, 2024 by EnergyNow Media

Calgary, Alberta–(Newsfile Corp. – February 1, 2024) – Lycos Energy Inc. (TSXV: LCX) (“Lycos” or the “Company“) is pleased to announce its 2024 budget (the “Budget“). 2024 Budget Highlights Capital expenditures (1) of $61.0 million, which includes the drilling of approximately 28 (27.2 net) wells consisting of the following: 10 (9.2 net) fishbone multi-laterals 7 (7 net) … Read more

Enbridge Gas Invites Existing and Potential Shippers for Peak Storage Bids at Dawn Hub

February 1, 2024 by EnergyNow Media

Bids start as early as February 1, 2024 TORONTO, Feb. 1, 2024 /CNW/ – Enbridge Gas is announcing a binding open season for peak storage services at the Dawn Hub storage facility for service beginning as early as April 1, 2024. Shippers seeking access to flexible, customized premium storage for peaking service needs can submit bids of up to 1 … Read more

Razor Energy Corp. Strategic Alternatives Process

February 7, 2024February 1, 2024 by EnergyNow Media

Subsequent to Razor Energy Corp.’s (“Razor”) recent announcements regarding its filing of a Notice of Intention to Make a Proposal under the provisions of the Bankruptcy and Insolvency Act (Canada), the engagement of FTI Consulting Canada Inc. (“FTI”) as Financial Advisor, and the engagement of Peters & Co. Limited (“Peters & Co.”) as Sales Agent, … Read more

Greta Thunberg Stands Trial Over London Oil Conference Protest Arrest

February 1, 2024 by EnergyNow Media

Climate campaigners were charged with public order offenses Police were handed new powers to clamp down on public protests Bloomberg Climate campaigner Greta Thunberg was accused of breaking public protest laws on the first day of a London trial after she was arrested while blockading an oil and gas conference last year. The Swedish activist, 21-years-old, arrived at … Read more

OPEC+ to Review Oil Cut Extension in March, Ministers Leave Policy Unchanged

February 1, 2024 by EnergyNow Media

Summary OPEC+ JMMC panel meeting keeps 2.2 mln bpd cuts Brent crude trades above $81, Middle East tensions support Next JMMC meeting to be held on April 3 (Reuters) – OPEC+ will decide in March whether or not to extend voluntary oil production cuts in place for the first quarter, two OPEC+ sources said on … Read more

Oil Buoyed by U.S. signals on Interest Rate Cuts

February 1, 2024 by EnergyNow Media

Summary OPEC+ meeting keeps 2.2 mln bpd cuts -sources China reveals support measures after Evergrande liquidation Energy market remains ‘on edge’ over Middle East -analyst LONDON, Feb 1 (Reuters) – Oil prices edged higher on Thursday, boosted by the U.S. Federal Reserve signalling a possible start to interest rate cuts. There was limited immediate price … Read more

Woodside Should Walk Away from Santos Deal, Large Shareholder Says

February 1, 2024 by EnergyNow Media

(Reuters) – Woodside should walk away from its proposed $57 billion merger with Santos rather than pay a premium for its smaller rival, a large shareholder said on Thursday, a sign of the deep divide between both sides over fair value. Fund manager Allan Gray Australia owns a roughly A$700 million ($460 million) stake in Australian … Read more

Alberta Government Opens Water-Sharing Talks with Large Users Amid Worsening Drought

February 1, 2024 by EnergyNow Media

EDMONTON – The Alberta government says it’s opening talks on water-sharing between large water users as the province’s drought situation worsens. Environment Minister Rebecca Schulz says negotiations between water licence holders in three southern Alberta river basins are to start this week. She says if a severe drought occurs this summer, the voluntary agreements would … Read more

Pieridae Energy Announces Executive Appointments and 2023 Exit Production

February 1, 2024 by EnergyNow Media

CALGARY, Alberta, Jan. 31, 2024 (GLOBE NEWSWIRE) — Pieridae Energy Limited (“Pieridae” or the “Company”) (TSX: PEA) is pleased to announce changes to its executive leadership team (“ELT”) focused on improving execution of the Company’s strategic objectives, cost reduction initiatives and sustainability. Following recent appointments, Pieridae’s ELT, reporting to Darcy Reding, President and Chief Executive Officer, is … Read more

The Reasons: Canada Energy Regulator Issues Reasons for Approving Revised Trans Mountain Pipeline Variance Application

February 1, 2024 by EnergyNow Media

CALGARY, AB, Jan. 31, 2024 /CNW/ – Today, the Commission of the Canada Energy Regulator issued its reasons for approving Trans Mountain’s variance application for the Mountain 3 horizontal directional drill (HDD) crossing, a 2.3-kilometre section between Hope Station and the Burnaby Tank Terminal. The Commission issued its decision with conditions on January 12, 2024. Based on Trans Mountain’s new in-line inspection (ILI) commitments … Read more

Canada Energy Minister Sees Opportunity in US Pause on Liquefied Natural Gas

February 1, 2024 by EnergyNow Media

US President Joe Biden’s decision to pause approvals of new licenses to export liquefied natural gas will create opportunity for Canada’s sector, Energy Minister Jonathan Wilkinson said Tuesday. His understanding is that Biden is attempting to integrate climate considerations into America’s LNG export policy. “Canada has been doing that now for several years,” Wilkinson told reporters after a cabinet meeting … Read more

Osage Nation v. Wind Farm – ENERGYminute

February 1, 2024February 1, 2024 by EnergyNow Media

Courtesy of Tulsa World In a sequel that absolutely no one wanted, the Osage Nation – whose fight in the 1900s over mineral land rights was depicted in the movie Killers of the Flower Moon – once again finds itself in the middle of a legal battle over energy rights a century later. This time, it’s all … Read more

Schachter’s Eye on Energy: Crude War Premium Expands As US Plans Retaliation Against Iran’s Proxies For Killing Three US Soldiers In Jordan.

February 1, 2024February 1, 2024 by EnergyNow Media

The Reasons: Canada Energy Regulator Issues Reasons for Approving Trans Mountain Variance

February 1, 2024February 1, 2024 by The Canadian Press

trans mountain worker 1200x810 jan 7 2022

CALGARY — The Canada Energy Regulator has issued its reasons for approving Trans Mountain Corp.’s revised pipeline variance application earlier this month.
In a press release, the regulator says it found that approving the application with four condi…

With Alberta Facing a Continuing Drought, Some Communities are Banning Oil and Gas Industry from Using Municipal Water

February 1, 2024February 1, 2024 by EnergyNow Media

Storey Originally Published in the Globe and Mail – See it Here A regional agency in Alberta has banned oil and gas operations from using its treated water, as a severe drought parching Western Canada leads municipalities to prepare restriction plans. The Mountain View Regional Water Services Commission owns and operates the Anthony Henday Water … Read more

TAKE ACTION: Make Your Opinion Known on the Federal Emissions Cap Targeting Oil & Gas Production – Give Your Feedback HERE by February 5, 2024

February 1, 2024February 1, 2024 by EnergyNow Media

This Could Have Serious Consequences… The efforts of millions of Canadians to show their support for responsibly produced Canadian oil and natural gas has made a real difference over the past few years as we see positive polling numbers continue to increase. Right now, we have another important opportunity to help point Canada’s future in … Read more

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