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Canada Weekly Rig Count Down 16 for Week Ending February 15, 2019

Canada’s drilling rig count decreased by 16 actively drilling rigs according to data collected by Baker Hughes for the week ending February 15, 2019. From one week ago, Alberta rig counts decreased 6 to 153 and the Saskatchewan rig counts decreased 4 to 53. Oil drilling decreased 6 to 152 and gas decreased 10 to … Read moreCanada Weekly Rig Count Down 16 for Week Ending February 15, 2019

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U.S. drillers add oil rigs for second week in a row

(Reuters) – U.S. energy firms this week increased the number of oil rigs operating for a second week in a row amid concerns that crude supplies will swamp global demand as U.S. output keeps growing from record levels. Companies added three oil rigs in the week to Feb. 15, bringing the total count to 857, … Read moreU.S. drillers add oil rigs for second week in a row

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Natural gas liquids processing gains drive profit increase at Inter Pipeline

CALGARY — Inter Pipeline Ltd. says an increase in natural gas liquids processing volumes and revenue was the major driver behind higher earnings in the fourth quarter.
The Calgary-based energy transport, processing and storage company says it had net …

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World’s Biggest Battery to Boost Solar in Texas Oil Country

Feb 14, 2019, by Christopher Martin (Bloomberg) The world’s largest battery could soon be storing solar energy deep in the heart of Texas oil country. The 495-megawatt storage system would be built in tandem with a solar farm of the same size in Borden County, Texas. The Electric Reliability Council of Texas Inc., which operates … Read moreWorld’s Biggest Battery to Boost Solar in Texas Oil Country

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VW Targets Carbon-Neutral Production for First Electric Car

Feb 15, 2019, by Chris Reiter and Brian Parkin (Bloomberg) Volkswagen AG plans to save 1 million tons of carbon-dioxide emissions a year by making production of its first electric model carbon neutral, part of an effort to clean up its image in the aftermath of the diesel-cheating scandal. The German automaker will use green … Read moreVW Targets Carbon-Neutral Production for First Electric Car

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Fortis Inc. Reports Strong 2018 Results

ST. JOHN’S, Newfoundland and Labrador, Feb. 15, 2019 (GLOBE NEWSWIRE) — Fortis Inc. (TSX/NYSE:FTS) Highlights Strong annual 2018 net earnings of $2.59 per common share Deployed record capital expenditures of $3.2 billion at its utilities in 2018 Five-year capital expenditure plan of $17.3 billion, up 20% over the prior year’s plan Issued first sustainability report, … Read moreFortis Inc. Reports Strong 2018 Results

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Enbridge Files 2018 Year End Disclosure Documents

enbridge-logo-feature

CALGARY, Feb. 15, 2019 /CNW/ – Enbridge Inc. (TSX:ENB) (NYSE:ENB) has filed its Form 10-K for the year ended December 31, 2018, with the United States Securities and Exchange Commission. Enbridge has also filed its audited Consolidated Financial Statements and related Management’s Discussion and Analysis for the year ended December 31, 2018, with Canadian securities … Read moreEnbridge Files 2018 Year End Disclosure Documents

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Global coal, LNG prices tumble as supply surges and demand weakens

LNG And LPG Operations At Aqaba Port, Jordan

* Thermal coal and LNG supply hits multi-year highs in January * Demand outlook from power generation tepid short and longer term * Falling coal & LNG prices: tmsnrt.rs/2EcWpdv * Rising coal & LNG supply: tmsnrt.rs/2BAqzFL By Henning Gloystein and Nina Chestney SINGAPORE/LONDON, Feb 15 (Reuters) – Thermal coal and natural gas prices are tumbling, … Read moreGlobal coal, LNG prices tumble as supply surges and demand weakens

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Peyto Improves Sustainability and Expands Cardium Play in 2018

CALGARY, Alberta, Feb. 14, 2019 (GLOBE NEWSWIRE) — Peyto Exploration & Development Corp. (“Peyto” or the “Company”) is pleased to present the results and analysis of its independent reserve report effective December 31, 2018. The evaluation encompassed 100% of Peyto’s reserves and was conducted by InSite Petroleum Consultants (“InSite”). The year 2018 marks the Company’s … Read morePeyto Improves Sustainability and Expands Cardium Play in 2018

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Five Things to Know in World Business Today

Feb 15, 2019, by Lorcan Roche Kelly and Cecile Gutscher (Bloomberg) Shutdown, emergency President Donald Trump is expected to sign Congress’s compromise funding bill later today, while at the same time making use of his executive powers to declare an emergency at the border to unilaterally shift about $7 billion of federal funds towards construction … Read moreFive Things to Know in World Business Today

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U.S. shale executives predict oil production constraints to remain

HOUSTON (Reuters) – Drilling curbs by oil producers in the largest U.S. shale field will continue until transport bottlenecks ease and investors stop punishing companies for increasing capital spending, executives at an energy conference said on Thursday. The price of crude in the Permian Basin of West Texas and New Mexico fell sharply last year, … Read moreU.S. shale executives predict oil production constraints to remain

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Oil Poised for Weekly Gain as OPEC+ Curbs Counter Trade Worries

Feb 15, 2019, by Tsuyoshi Inajima and Grant Smith (Bloomberg) Oil headed for its biggest weekly gain in a month as the OPEC+ coalition’s supply cuts and reduced output from the world’s biggest offshore field overshadowed renewed concern over the U.S.-China trade war. Futures in New York were steady on Friday, and have increased 3.3 … Read moreOil Poised for Weekly Gain as OPEC+ Curbs Counter Trade Worries

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Enbridge quarterly profit beats estimates on higher crude shipments

&nbsp; <div class=”hide-on-mobile”>[adrotate banner=”347″]</div> <div class=”hide-on-desktop”>[adrotate banner=”348″]</div> &nbsp; (Reuters) – Enbridge Inc, Canada’s largest pipeline operator, topped analysts’ estimates for quarterly profit on Friday, as it moved more crude oil and refined products along its pipelines. The Calgary, Alberta-based company said it transported 2.7 million barrels per day (bpd) of crude oil on its Mainline system across … Read moreEnbridge quarterly profit beats estimates on higher crude shipments

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Osprey Informatics featured in the Financial Post: Oilpatch AI keeps a wary eye on remote wells after human officials go home

Osprey Logo - December 2018 Update Feature

CALGARY — From a computer in his downtown office, Jeremy Bernard calls up live video of an oil well site in rural Alberta, clicking to bring up a cluster of small buildings, then a gravel road that leads across snowy pasture. The picture is sharp and the camera can detect motion. But its monitoring effectiveness … Read moreOsprey Informatics featured in the Financial Post: Oilpatch AI keeps a wary eye on remote wells after human officials go home

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Berkshire Hathaway takes new stake in Canada’s Suncor Energy

TORONTO/WINNIPEG, Manitoba (Reuters) – Warren Buffett’s Berkshire Hathaway Inc said on Thursday it had taken a fresh stake in Suncor Energy Inc for the second time in about six years, sending the U.S.-listed shares of the energy major up 4 percent in after-market trading. Suncor, Canada’s biggest oil and gas company, is considered one of … Read moreBerkshire Hathaway takes new stake in Canada’s Suncor Energy

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Oilpatch AI keeps a wary eye on remote wells after human officials go home

CALGARY — From a computer in his downtown office, Jeremy Bernard calls up live video of an oil well site in rural Alberta, clicking to bring up a cluster of small buildings, then a gravel road that leads across snowy pasture.
The picture is sharp and …

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East Canada LNG Edges Toward Decision on $7.5 Billion Plant

Feb 14, 2019, by Anna Shiryaevskaya (Bloomberg) A $7.5 billion liquefied natural gas project in East Canada focused on Europe is seeking to get the go-ahead this year. Pieridae Energy Ltd. is targeting the milestone known as a final investment decision after having lined up buyers for the fuel, mainly in Europe. If approved it … Read moreEast Canada LNG Edges Toward Decision on $7.5 Billion Plant

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Precision Drilling Corporation Announces 2018 Fourth Quarter and Year End Unaudited Financial Results

Precision-Drilling-Feature

CALGARY, Alberta, Feb. 14, 2019 (GLOBE NEWSWIRE) — (Canadian dollars except as indicated) 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” … Read morePrecision Drilling Corporation Announces 2018 Fourth Quarter and Year End Unaudited Financial Results

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TransCanada Reports Record Financial Results for 2018

TransCanada-Logo-Feature

CALGARY, Alberta, Feb. 14, 2019 (GLOBE NEWSWIRE) — TransCanada Corporation (TSX, NYSE: TRP) (TransCanada or the Company) today announced net income attributable to common shares for fourth quarter 2018 of $1.1 billion or $1.19 per share compared to net income of $0.9 billion or $0.98 per share for the same period in 2017. For the … Read moreTransCanada Reports Record Financial Results for 2018

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Oil rises for third day as U.S./China trade, OPEC cheer investors

LONDON (Reuters) – Oil rose for a third day on Thursday to reach its highest so far this year as financial markets drew support from investor optimism that the United States and China could resolve their trade dispute. The price of crude has risen 20 percent this year, driven primarily by the prospect of a … Read moreOil rises for third day as U.S./China trade, OPEC cheer investors

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Global Oil Prices Turn Topsy-Turvy as Scorned Crudes Become Dear

Feb 14, 2019, by Michelle Kim and Serene Cheong (Bloomberg) Some of the world’s dirtiest and densest crudes traditionally spurned for being too difficult to process are having a moment in the sun, with a little help from Donald Trump. “Heavy-sour” oil from nations such as Venezuela and Iraq have a higher sulfur content and … Read moreGlobal Oil Prices Turn Topsy-Turvy as Scorned Crudes Become Dear

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It’s All Going Wrong Again for OPEC: Oil Strategy

Feb 14, 2019, by Julian Lee (Bloomberg) Even as oil producing states in OPEC and beyond begin implementing the output cuts they agreed in December, the world’s need for their crude is shrinking further, suggesting that they will need to extend the deal through the second half of the year. The latest forecasts from supply-and-demand … Read moreIt’s All Going Wrong Again for OPEC: Oil Strategy

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SNC-Lavalin Seen Speeding Asset Sales Amid Deepening Crisis

Feb 13, 2019, by Frederic Tomesco (Bloomberg) If a mine dispute were all that SNC-Lavalin Group Inc. had to worry about, Chief Executive Officer Neil Bruce might be looking forward to next week’s earnings report with some equanimity. As it stands, the Canadian engineering giant is being rocked by a political controversy that’s embroiled Prime … Read moreSNC-Lavalin Seen Speeding Asset Sales Amid Deepening Crisis

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Five Things to Know in World Business Today

Feb 14, 2019, by Samuel Potter (Bloomberg) Scheduling more couples therapy Five Things is shocked – shocked! – to see upbeat China export data arrive just as trade talks with the U.S. reach crunch time. Leaders in Beijing, from where the numbers originate, must be counting their lucky stars after this fortuitous turn of events, apparently caused by companies front-running the … Read moreFive Things to Know in World Business Today

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Canadian Taxpayers Federation goes to court to stop Ottawa’s carbon tax

Feb. 13, 2019 REGINA, SK: The Canadian Taxpayers Federation opposed the carbon tax in the Saskatchewan Court of Appeal today. “Carbon taxes will cost Canadians a lot of money without helping the environment and our lawyers made strong arguments on behalf of taxpayers in court today,” said Todd MacKay, the CTF’s Prairie Director. “We applaud the … Read moreCanadian Taxpayers Federation goes to court to stop Ottawa’s carbon tax

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Cenovus Forges Ahead on Rail Plans as Canadian Peers Dial Back

Feb 13, 2019, by Kevin Orland (Bloomberg) Cenovus Energy Inc. is forging ahead with plans to expand its rail shipments of crude to U.S. refiners, even as some peers dial back, in a bet that pricing for Canadian heavy crude will soon shift to make those shipments more economical. Chief Executive Officer Alex Pourbaix said … Read moreCenovus Forges Ahead on Rail Plans as Canadian Peers Dial Back

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Canada’s Answer to Tesla Is a $15,500 Electric Three-Wheeler

by Natalie Obiko Pearson and Ed Ludlow (Bloomberg) It’s all-electric like a Tesla. It’s priced like a Ford Fiesta. It’s one of the oddest-looking vehicles you’ve ever seen — and it may just redefine the commuter car. As General Motors Co. prepares to shut the plant near Toronto that got car-making started in Canada more … Read moreCanada’s Answer to Tesla Is a $15,500 Electric Three-Wheeler

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Birchcliff Energy Ltd. Announces Unaudited 2018 Year-End and Fourth Quarter Results, 2018 Reserves Highlights, 2019 Capital Program and Increased Common Share Dividend

February 13, 2019 Globe Newswire CALGARY, Alberta, Feb. 13, 2019 (GLOBE NEWSWIRE) — Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its unaudited 2018 year-end and fourth quarter financial and operational results, highlights from its independent reserves evaluations effective December 31, 2018, its 2019 capital program and a 5% increase to its quarterly … Read moreBirchcliff Energy Ltd. Announces Unaudited 2018 Year-End and Fourth Quarter Results, 2018 Reserves Highlights, 2019 Capital Program and Increased Common Share Dividend

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DEAL: Aureus Energy Services Inc. Completes Strategic Acquisition of Amperage Energy Inc.

NEWS PROVIDED BY Aureus Energy Services Inc.  February 13, 2019 CALGARY, Feb. 13, 2019 /CNW/ – Aureus Energy Services Inc. (“Aureus“) is pleased to announce it has acquired all of the outstanding shares of Amperage Energy Inc. (“Amperage“).  This strategic acquisition will allow Aureus to extend its service offerings from upstream water sourcing, water transfer, heating and … Read moreDEAL: Aureus Energy Services Inc. Completes Strategic Acquisition of Amperage Energy Inc.

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Lawyers to argue merits of carbon tax as Saskatchewan challenge heads to court

February 13, 2019 The Canadian Press Lawyers packed a Regina courtroom today to argue the constitutionality of a federally imposed carbon tax. A panel of five judges is to listen to arguments from both the Saskatchewan and federal governments as well as from 16 interveners on both sides of the dispute. Saskatchewan opposes the federal government’s … Read moreLawyers to argue merits of carbon tax as Saskatchewan challenge heads to court

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Bonterra Energy Corp. Announces Year End 2018 Corporate Reserves Information

February 13, 2019 CNW CALGARY, Feb. 13, 2019 /CNW/ – Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) (“Bonterra” or the “Company”) is pleased to provide the summary results of its independent reserve report (the “Sproule Report”) prepared by Sproule Associates Limited (“Sproule”) with an effective date of December 31, 2018. Corporate Reserves Information The following summarizes certain information contained in the Sproule … Read moreBonterra Energy Corp. Announces Year End 2018 Corporate Reserves Information

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Mexico president says will respect pipeline deal despite costs

MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador said on Tuesday he will respect contracts that companies have with state-run power utility CFE for pipelines that are not operational despite his criticism of how much the arrangements cost. On Monday, the government said Mexican billionaire Carlos Slim’s Grupo Carso, TransCanada Corp and Mexican … Read moreMexico president says will respect pipeline deal despite costs

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TSX futures rise on higher oil prices

(Reuters) – Futures for Canada’s main index rose on Wednesday, helped by gains in oil prices. March futures on the S&P/TSX index were up 0.28 percent at 7:05 a.m. ET. Brent crude prices rose after top exporter Saudi Arabia said it would cut crude exports and deliver an even deeper cut to its production, while … Read moreTSX futures rise on higher oil prices

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Chinook Energy Inc. Announces Its Unaudited 2018 Year End Results and Reserves

Chinook Energy Feature

CALGARY, Alberta, Feb. 12, 2019 (GLOBE NEWSWIRE) — Chinook Energy Inc. (“Chinook” or the “Company”) (TSX: CKE) today announced its unaudited 2018 year end results and the results of its year end reserve evaluation effective December 31, 2018 as prepared by its independent evaluator. Chinook’s audit of its 2018 annual consolidated financial statements is not … Read moreChinook Energy Inc. Announces Its Unaudited 2018 Year End Results and Reserves

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Cequence Energy Announces Operations Update and Executive Appointment

CALGARY, Alberta, Feb. 12, 2019 (GLOBE NEWSWIRE) — Cequence Energy Ltd. (“Cequence” or the “Company”) (TSX: CQE) is pleased to provide an operational update and announce an Executive Management change at the Company. Operations Update: Field production for the 2018 calendar year averaged approximately 6,490 boe/d (23% liquids), with January 2019 field estimates averaging 5,900 … Read moreCequence Energy Announces Operations Update and Executive Appointment

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Pine Cliff Energy Ltd. Announces 2019 Guidance and 2018 Year-End Reserves

CALGARY, Alberta, Feb. 12, 2019 (GLOBE NEWSWIRE) — Pine Cliff Energy Ltd. (“Pine Cliff” or the “Company”) (TSX: PNE) is pleased to announce 2019 guidance and 2018 year-end reserves. 2019 Guidance Pine Cliff’s Board of Directors has approved a 2019 capital budget of $10.0 million that will be funded from adjusted funds flow.  Pine Cliff … Read morePine Cliff Energy Ltd. Announces 2019 Guidance and 2018 Year-End Reserves

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Petro-Canada to provide Canadian EV drivers with Canada’s first coast-to-coast network of fast chargers

CALGARY, Alberta, Feb. 13, 2019 (GLOBE NEWSWIRE) — Petro-Canada, a Suncor business, is building a network of electric vehicle (EV) fast charging stations across the country. More than 50 EV stations will be located along the Trans-Canada highway at strategically located Petro-Canada stations from Nova Scotia to British Columbia. Construction is set to begin this … Read morePetro-Canada to provide Canadian EV drivers with Canada’s first coast-to-coast network of fast chargers

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Cenovus delivers strong operating performance in 2018

cenovus-logo

CALGARY, Alberta, Feb. 13, 2019 (GLOBE NEWSWIRE) — Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) delivered strong operating performance in 2018 while demonstrating financial resilience in a challenging and volatile Canadian commodity price environment. “In the fourth quarter, in some of the most difficult macro-economic conditions we’ve ever faced and while voluntarily managing our oil … Read moreCenovus delivers strong operating performance in 2018

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Oil Extends Gain on Saudi Output Pledge, Trump Trade Flexibility

Feb 13, 2019, by Sharon Cho (Bloomberg) Oil climbed for a second day after Saudi Arabia pledged to deepen production cuts and U.S. President Donald Trump said he might extend a deadline for additional tariffs on China. Futures in New York added as much as 1.2 percent after rising 1.3 percent Tuesday. The world’s biggest … Read moreOil Extends Gain on Saudi Output Pledge, Trump Trade Flexibility

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Five Things to Know in World Business Today

Feb 13, 2019, by Lorcan Roche Kelly (Bloomberg) Flexibility President Donald Trump said he is open to extending the March 1 deadline to raise tariffs on Chinese imports if both sides are close to agreement by the end of the month. China’s President Xi Jinping is set to meet key members of the U.S. delegation … Read moreFive Things to Know in World Business Today

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Teck Resources misses profit estimates on lower oil, metal prices

FILE PHOTO: Teck Resources sign is on display during the company's annual general meeting in Vancouver, British Columbia, Canada, April 22, 2010. REUTERS/Lyle Stafford/File Photo

(Reuters) – Canada’s Teck Resources Ltd, the world’s second-biggest exporter of steel-making coal, posted a lower-than-expected quarterly profit on Wednesday, hurt by weak prices for heavy crude and base metals. Transportation bottlenecks in the country have pushed prices of Canadian oil lower, hurting the company’s energy business unit, while the U.S.-China trade dispute has roiled … Read moreTeck Resources misses profit estimates on lower oil, metal prices

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Bluewave Energy Launches New Propane Operations in Kindersley, SK

Bluewave Energy Feature Logo

The latest branch addition to Bluewave Energy’s network recently launched in Kindersley, SK. The branch will service and deliver propane to commercial businesses, industries and homes throughout southwestern and central Saskatchewan. With 32 local branches, Bluewave Energy is Western Canada’s leading multi-fuel distributor that specializes in propane, fuel and lubricants. Bluewave Energy staff pride themselves … Read moreBluewave Energy Launches New Propane Operations in Kindersley, SK

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XI Technologies: Lack of critical mass could drive Junior divestitures in 2019

Each week, XI Technologies scans their unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like Wednesday Word to the Wise delivered directly to your inbox, subscribe here.  A recent article announcing the offering of a corporate/asset divestiture by Wolf Coulee Resources … Read moreXI Technologies: Lack of critical mass could drive Junior divestitures in 2019

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Global oil supply to swamp demand in 2019 despite output cuts: IEA

LONDON (Reuters) – The global oil market will struggle this year to absorb fast-growing crude supply from outside OPEC, even with the group’s production cuts and U.S. sanctions on Venezuela and Iran, the International Energy Agency said in a report on Wednesday. The IEA left its demand growth forecast for 2019 unchanged from its last … Read moreGlobal oil supply to swamp demand in 2019 despite output cuts: IEA

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The Canadian Electrical Code has changed to include the IEC61511 Standard. Learn about it at ACM’s LOPA and SIL Verification Workshops in Calgary – Feb 25-28th, 2019

ACM_Logo_feature

We want to inspire change and make the world a safer place. That begins by giving YOU the tools to make YOUR world a safer place. That’s the entire reason why we do what we do. LOPA Workshop and SIL Verification Workshop February 25-26 and February 27-28, 2019 in Calgary, AB Come learn how to plan, execute … Read moreThe Canadian Electrical Code has changed to include the IEC61511 Standard. Learn about it at ACM’s LOPA and SIL Verification Workshops in Calgary – Feb 25-28th, 2019

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Teck Resources to share insight on Indigenous relations during panel sessions at Forward Summit

Forward Summit, the gathering of Indigenous and industry leaders dedicated to economic reconciliation, has just announced that Teck Resources will present at the inaugural event in February 2019. Teck Resources, Canada’s largest diversified resources company, will be at the table to participate in various discussions related to their Frontier Project which is currently being reviewed … Read moreTeck Resources to share insight on Indigenous relations during panel sessions at Forward Summit

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Custom Energy Solutions has introduced Simplified Custom Measures to help facilities make energy-efficient upgrades quicker and easier than before – Energy Efficiency Alberta

Energy Efficiency Alberta Feature Logo V2

Energy efficiency made quick and easy. Custom Energy Solutions has introduced Simplified Custom Measures to help facilities make energy-efficient upgrades quicker and easier than before. Custom Energy Solutions has a wide variety of measures and offerings focused on the commercial and industrial sector. But, identifying energy saving opportunities through a scoping audit or engineering study … Read moreCustom Energy Solutions has introduced Simplified Custom Measures to help facilities make energy-efficient upgrades quicker and easier than before – Energy Efficiency Alberta

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Encana and Newfield’s strategic combination receives shareholder approvals

February 12, 2019 Globe Newswire CALGARY, Alberta, Feb. 12, 2019 (GLOBE NEWSWIRE) — Encana Corporation (Encana) (TSX, NYSE: ECA) and Newfield Exploration Company (Newfield) (NYSE: NFX) announced that the proposals necessary for the companies’ planned strategic combination were approved at the special shareholder meetings held today. The transaction will create North America’s premier resource company. The … Read moreEncana and Newfield’s strategic combination receives shareholder approvals

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Cequence Energy Announces Operations Update and Executive Appointment

February 12, 2019 Globe Newswire CALGARY, Alberta, Feb. 12, 2019 (GLOBE NEWSWIRE) — Cequence Energy Ltd. (“Cequence” or the “Company”) (TSX: CQE) is pleased to provide an operational update and announce an Executive Management change at the Company. Operations Update: Field production for the 2018 calendar year averaged approximately 6,490 boe/d (23% liquids), with January 2019 … Read moreCequence Energy Announces Operations Update and Executive Appointment

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Pine Cliff Energy Ltd. Announces 2019 Guidance and 2018 Year-End Reserves

February 12, 2019 Globe Newswire CALGARY, Alberta, Feb. 12, 2019 (GLOBE NEWSWIRE) — Pine Cliff Energy Ltd. (“Pine Cliff” or the “Company”) (TSX: PNE) is pleased to announce 2019 guidance and 2018 year-end reserves. 2019 Guidance Pine Cliff’s Board of Directors has approved a 2019 capital budget of $10.0 million that will be funded from adjusted … Read morePine Cliff Energy Ltd. Announces 2019 Guidance and 2018 Year-End Reserves

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Pieridae Energy Limited Announces Private Placement

February 12, 2019 Globe Newswire CALGARY, Alberta, Feb. 12, 2019 (GLOBE NEWSWIRE) –Pieridae Energy Limited (“Pieridae”) (TSXV: PEA) is pleased to announce that it has entered into an agreement with a syndicate of investment dealers co-led by KES 7 Capital Inc. (“KES 7”), National Bank Financial Inc. (“NBF”), and Laurentian Bank Securities Inc. with KES 7 … Read morePieridae Energy Limited Announces Private Placement

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Chinook Energy Inc. Announces Its Unaudited 2018 Year End Results and Reserves

February 12, 2019 Globe Newswire CALGARY, Alberta, Feb. 12, 2019 (GLOBE NEWSWIRE) — Chinook Energy Inc. (“Chinook” or the“Company”) (TSX: CKE) today announced its unaudited 2018 year end results and the results of its year end reserve evaluation effective December 31, 2018 as prepared by its independent evaluator. Chinook’s audit of its 2018 annual consolidated financial statements is not … Read moreChinook Energy Inc. Announces Its Unaudited 2018 Year End Results and Reserves

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OPEC Chief Urges Producers to Follow Through on Pledges to Cut

Feb 12, 2019, by Grant Smith (Bloomberg) OPEC’s top official urged countries in the group and its allies to follow through on their pledges to cut oil production and keep global markets balanced. While the Organization of Petroleum Exporting Countries collectively made a strong start last month to a new round of output cuts, much … Read moreOPEC Chief Urges Producers to Follow Through on Pledges to Cut

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Big Oil’s Big Issue With Embracing ‘Big Energy’: Liam Denning

Big Oil

Feb 12, 2019, by Liam Denning (Bloomberg Opinion) Oil majors increasingly are trying their hand at being alternative-energy minors. Royal Dutch Shell Plc, which traces its roots back to the late 19th century, just bought Greenlots Global, a California software company serving the electric-vehicle charging sector. This follows other deals by Shell — along with the likes … Read moreBig Oil’s Big Issue With Embracing ‘Big Energy’: Liam Denning

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Saskatchewan, Ottawa carbon tax case will be ‘monumental’ for Constitution: expert

Stephanie Taylor / The Canadian Press February 12, 2019 Legal experts, government officials, industry leaders — and maybe even the public — will watch this week as Saskatchewan and Ottawa head to court over the constitutionality of a federally-imposed carbon tax. The federal government is set to impose a carbon tax on provinces that do not have … Read moreSaskatchewan, Ottawa carbon tax case will be ‘monumental’ for Constitution: expert

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Advantage Announces 2018 Year-End Reserves & Operations Update

February 11, 2019 CNW 221% Production Replacement Led By 22% Increase in Liquids Reserves (TSX: AAV) CALGARY, Feb. 11, 2019 /CNW/ – Advantage Oil & Gas Ltd. (“Advantage” or the “Corporation”) is pleased to report its 2018 reserves and an operational update on the Corporation’s liquids development plan. Advantage’s 2018 proved plus probable (“2P”) reserve additions replaced 221% … Read moreAdvantage Announces 2018 Year-End Reserves & Operations Update

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OPEC cuts 2019 oil demand forecast on global slowdown

LONDON (Reuters) – OPEC cut its forecast for 2019 world oil demand on Tuesday due to slowing economies and expectations of faster supply growth from rivals, underlining its challenge to prevent a surplus even as it starts new production cuts. In a monthly report, the Organization of the Petroleum Exporting Countries lowered its forecast for … Read moreOPEC cuts 2019 oil demand forecast on global slowdown

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Canadian dollar dips as oil falls, investors demand greenbacks

TORONTO (Reuters) – The Canadian dollar edged lower against its U.S. counterpart on Monday as oil prices fell and investors sought to own greenbacks, betting that the U.S. currency would fare best as the global economy slows. The U.S. dollar .DXY jumped as concerns grew that the latest round of U.S.-China talks may not yield … Read moreCanadian dollar dips as oil falls, investors demand greenbacks

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PrairieSky Announces 2018 Fourth Quarter and Year End Results; Maintains Dividend at $0.78 Per Share

February 11, 2019  | Source: PrairieSky Royalty Ltd. CALGARY, Alberta, Feb. 11, 2019 (GLOBE NEWSWIRE) — PrairieSky Royalty Ltd. (“PrairieSky” or the “Company“) (TSX: PSK) is pleased to announce its fourth quarter (“Q4 2018”) and year-end operating and financial results for the period ended December 31, 2018. In addition, PrairieSky’s Board of Directors has confirmed the annual … Read morePrairieSky Announces 2018 Fourth Quarter and Year End Results; Maintains Dividend at $0.78 Per Share

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Essential Energy Services Announces Executive Management Changes

CALGARY, Alberta, Feb. 11, 2019 (GLOBE NEWSWIRE) — Essential Energy Services Ltd. (TSX: ESN) (“Essential”) announces the following executive changes effective March 8, 2019: Mr. Allan Mowbray, currently Vice President, Finance and Chief Financial Officer, has resigned from his position effective March 8, 2019 to pursue a new opportunity. Mr. Jeff Newman, currently Senior Vice … Read moreEssential Energy Services Announces Executive Management Changes

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Marksmen Announces Proposed Private Placement

CALGARY, Alberta, Feb. 11, 2019 (GLOBE NEWSWIRE) — Marksmen Energy Inc. (“Marksmen” or the “Company”) announces that it plans to complete a non-brokered private placement of up to 4,650,000 units (the “Units”) of Marksmen at a price of $0.10 per Unit for aggregate gross proceeds of up to a maximum of $465,000 (the “Offering”). There … Read moreMarksmen Announces Proposed Private Placement

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Oil Rises From Two-Week Low Amid Deal to Avert U.S. Shutdown

Feb 12, 2019, by Grant Smith (Bloomberg) Oil rose from a two-week low as a tentative accord to prevent another U.S. government shutdown reassured investors and boosted financial markets. Crude futures rose 1.6 percent in New York, after sliding on Monday to the lowest settlement since Jan. 28. Congressional negotiators said Monday in Washington they … Read moreOil Rises From Two-Week Low Amid Deal to Avert U.S. Shutdown

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Five Things to Know in World Business Today

Feb 12, 2019, by Lorcan Roche Kelly (Bloomberg) Two out of three ain’t bad Congressional Republican and Democrat negotiators reached an agreement on border security that would see $1.375 billion allocated to increased barriers along the frontier with Mexico. For the tentative deal to prove sufficient to avoid another partial government shutdown on Friday, President Donald Trump … Read moreFive Things to Know in World Business Today

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U.S. Sanctions Spark Surge in Venezuelan Oil Half the World Away

Feb 12, 2019, by Bloomberg News (Bloomberg) U.S. sanctions that have effectively blocked American imports of Venezuelan oil are leading to a crude-price surge thousands of miles away in China. State-run energy giant PetroChina Co. is selling Venezuelan Merey oil at a premium of about $5 a barrel to benchmark U.S. West Texas Intermediate, according … Read moreU.S. Sanctions Spark Surge in Venezuelan Oil Half the World Away

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TransCanada’s Keystone pipeline still partly shut after Missouri leak

NEW YORK (Reuters) – TransCanada Corp said on Monday a stretch of its Keystone crude pipeline from Nebraska to Illinois remained shut after a leak was discovered in the area of St. Louis, Missouri, last week. The cause and source of the spill have not been determined and there is no estimated timeline for a … Read moreTransCanada’s Keystone pipeline still partly shut after Missouri leak

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Alberta’s oil cuts backfire as crude-by-rail shipments collapse

BLOOMBERG NEWS Updated: February 11, 2019 Rail volumes fell 56 per cent last week compared with three weeks earlier, after setting a record in December, according to Genscape Inc. JOHN WOODS/THE CANADIAN PRESS Alberta’s effort to alleviate a crude glut through mandatory production curtailments may be backfiring, as Canadian heavy crude has become too expensive … Read moreAlberta’s oil cuts backfire as crude-by-rail shipments collapse

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U.S. approves part of TransCanada Gulf XPress natgas pipe for service

(Reuters) – The Federal Energy Regulatory Commission said on Monday it approved a request by TransCanada Corp’s Columbia unit to put part of the company’s $600 million Gulf XPress natural gas pipeline into service in Kentucky, Mississippi and Tennessee. Gulf XPress is one of several pipelines designed to connect growing output in the Marcellus and … Read moreU.S. approves part of TransCanada Gulf XPress natgas pipe for service

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Come Check Out the Ultimate Hydraulic Catwalk – Superior Rig Innovations

Come Check Out the Ultimate Hydraulic Catwalk Superior Rig Innovations is an Alberta company with a long history of technical innovation and peerless service in hydraulic and automated catwalks and they are expanding that legacy with another world’s best… “The Commander Catwalk”. Superior Rig opened its doors in 2017, but is an industry expert with … Read moreCome Check Out the Ultimate Hydraulic Catwalk – Superior Rig Innovations

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Petroteq Energy Announces Resource Acquisition

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. SHERMAN OAKS, Calif., Feb. 08, 2019 (GLOBE NEWSWIRE) — Petroteq Energy Inc. (the “Company”) (TSXV:PQE; OTC:PQEFF; FSE: PQCF), a fully integrated oil and gas company, is pleased to announce the execution … Read morePetroteq Energy Announces Resource Acquisition

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Oil Near $52 After Worst Week Since December on Growth Concerns

Feb 11, 2019, by Heesu Lee and Grant Smith (Bloomberg) Oil slipped again, trading near $52 a barrel in New York after mounting concerns about the health of the global economy triggered the sharpest weekly price drop since December. Futures retreated 0.5 percent in New York, following a decline of 4.6 percent last week. U.S. … Read moreOil Near $52 After Worst Week Since December on Growth Concerns

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Five Things to Know in World Business Today

Feb 11, 2019, by Lorcan Roche Kelly (Bloomberg) Talks go nowhere With the clock ticking to avoid another partial government shutdown, talks over the weekend seeking an accord on border security broke down without agreement. President Donald Trump is due to go to El Paso, Texas, later today for a rally backing the construction of … Read moreFive Things to Know in World Business Today

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Venezuela Oil Czar Courts India After $20 Billion Hit From U.S.

Feb 11, 2019, by Debjit Chakraborty and Dhwani Pandya (Bloomberg) Venezuela’s oil minister made a surprise appearance at an energy event in India, as the embattled OPEC producer seeks closer ties with major crude customers in the face of crippling U.S. sanctions. Manuel Quevedo said on Monday his nation wants to sell more crude to … Read moreVenezuela Oil Czar Courts India After $20 Billion Hit From U.S.

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Oil Doubters Mount a Comeback as Rally Stalls on Global Worries

Feb 10, 2019, by Alex Nussbaum (Bloomberg) Hedge funds reversed course on oil just in time, plowing back into bearish bets as crude skidded into a wall of economic worries. In a shift from four weeks of retreat, short-sellers boosted by 28 percent their wagers that Brent prices would fall in the week ended Feb. … Read moreOil Doubters Mount a Comeback as Rally Stalls on Global Worries

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Alberta’s Would-Be Leader Vows to Drop Gloves in Fights Over Oil

Feb 11, 2019, by Kevin Orland and Josh Wingrove (Bloomberg) Canada’s oil sector may soon get a more combative advocate in the Alberta premier’s office. Voters in Canada’s top oil-producing province head to the polls in the next few months and are poised to elect Jason Kenney, one of the country’s foremost conservative figures, as … Read moreAlberta’s Would-Be Leader Vows to Drop Gloves in Fights Over Oil

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Choosing Incentives with Science: Ditching the myths and getting up to speed on the science of incentives is easy – Hawk Incentives

Hawk Incentives Feature Image

Whether you are trying to decide which rewards to offer in your an existing incentive program, or you’re thinking about implementing a program for the first time and are overwhelmed by the various options; the decision about which incentives to use is critical. As such, which rewards you select should be guided by the science … Read moreChoosing Incentives with Science: Ditching the myths and getting up to speed on the science of incentives is easy – Hawk Incentives

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SURPLUS EQUIPMENT: Reciprocating Compressor (HIGH Sour), 1480 hp Waukesha 7042GSI Ariel JGK-4 – Ironhub

Iron Hub Logo Feature

Click here to see the specifications for Flare Knockout (LP), 66″ x 9′ 50 bbl 15 PSI About Marketplace by IronHub Markeplace by IronHub is North America’s leading surplus collaboration tool. Source, connect and save – all in one place. Visit: marketplace.theironhub.com

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Indigenous students and alumni across Alberta explore career opportunities at Indigenous Students Career Day

Forward Summit partners with Lynx Indigenous Career Connection to present Indigenous Students Career Day taking place on February 27th at Calgary TELUS Convention Centre. While hundreds of Indigenous and industry leaders from across Canada meet at the convention centre for Forward Summit, a few rooms over, Indigenous students and alumni from across Alberta will network … Read moreIndigenous students and alumni across Alberta explore career opportunities at Indigenous Students Career Day

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WATCH: Meet the Alberta town that hurting to stay alive in Canada’s energy crisis

    Drayton Valley is a small Alberta oil town that delivered 6,800 letters to the prime minister last December with a simple message: low oil prices are hurting families and something needs to change now. In a year with both a provincial and federal election, The National is going in-depth in Alberta to find … Read moreWATCH: Meet the Alberta town that hurting to stay alive in Canada’s energy crisis

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U.S. drillers add oil rigs for second week in three – Baker Hughes

Feb 8 (Reuters) – U.S. energy firms this week increased the number of oil rigs operating for the second time in three weeks after oil prices soared over 18 percent in January. Companies added 7 oil rigs in the week to Feb. 8, bringing the total count to 854, General Electric Co’s Baker Hughes energy … Read moreU.S. drillers add oil rigs for second week in three – Baker Hughes

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Doug Ford is right to highlight economic damage of carbon taxes – Fraser Institute

First appeared in the Toronto Sun Last week, Ontario Premier Doug Ford said a carbon tax “will be a total economic disaster” and the “risk of a carbon-tax recession is very, very real.” Predictably, media outlets across the country blasted Ford. “Doug Ford out to lunch with ‘carbon tax recession’ claim, say economists” said Macleans. … Read moreDoug Ford is right to highlight economic damage of carbon taxes – Fraser Institute

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Canada Weekly Rig Count Down 3 for Week Ending February 8, 2019

Canada’s drilling rig count decreased by 3 actively drilling rigs according to data collected by Baker Hughes for the week ending February 8, 2019. From one week ago, Alberta rig counts decreased 5 to 159 and the Saskatchewan rig counts increased 3 to 57. Oil drilling decreased 1 to 158 and gas decreased 2 to … Read moreCanada Weekly Rig Count Down 3 for Week Ending February 8, 2019

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Indigenous pro-oil rally in Alberta stresses energy industry is vital for them

LAC LA BICHE, Alta. — Indigenous supporters of Canada’s oil and gas industry turned out here in force Sunday to make the point that the sector plays a vital role in their lives.
“It doesn’t matter if you’re a business owner or a worker or an aborigina…

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An Open Letter to Elizabeth May – Leader, Green Party of Canada – Time to Answer Questions & Back-Up Doomsday Predictions!

EnergyNow is pleased to publish this Open Letter by Deidra Garyk, who works in the Canadian energy industry.  If you agree with Deidra please share her letter on your own social media channels.  We must keep up our collective voice to make sure the majority of Canadians are heard.  The Canadian Energy Industry is vital … Read moreAn Open Letter to Elizabeth May – Leader, Green Party of Canada – Time to Answer Questions & Back-Up Doomsday Predictions!

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Indigenous-Led Energy Rally Revs Up in Northern Alberta

‘I think it is representative that most First Nations support the pipeline’ David Thurton · CBC News · Posted: Feb 10, 2019 A convoy of more than 100 trucks assembled Sunday in Lac La Biche in northern Alberta, in what’s being billed as the first Indigenous-led rally for energy resources. The event, organized by the Region One Aboriginal Business Association, wants … Read moreIndigenous-Led Energy Rally Revs Up in Northern Alberta

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‘Strategic messaging’: Russian fighters in Arctic spark debate on Canada’s place

Recent Russian moves in the Arctic have renewed debate over that country’s intentions and Canada’s own status at the top of the world.
The newspaper Izvestia reported late last month that Russia’s military will resume fighter patrols to the North Pole…

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Heavy crude discount grows, Keystone section stays closed

February 8, 2019 Reuters The Canadian heavy oil differential widened against the West Texas Intermediate (WTI) benchmark on Friday, as a section of the Keystone pipeline remained closed because of an oil leak in Missouri: * Western Canada Select (WCS) heavy blend crude for March delivery in Hardisty, Alberta, was trading at $11 a barrel below … Read moreHeavy crude discount grows, Keystone section stays closed

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TransCanada Says Keystone Pipeline Is Likely Source of Oil Spill

Feb 8, 2019, by Sheela Tobben, Robert Tuttle and Catherine Ngai (Bloomberg) TransCanada Corp. said its Keystone pipeline, which carries Canadian crude to the U.S., was likely the source of an oil spill in Missouri that prompted the company to shut a segment of the line. “Preliminary investigation has led TransCanada to believe that the … Read moreTransCanada Says Keystone Pipeline Is Likely Source of Oil Spill

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Crew Energy Announces Year End 2018 Reserves

February 7, 2019 CNW CALGARY, Feb. 7, 2019 /CNW/ – Crew Energy Inc. (TSX: CR) of Calgary, Alberta (“Crew” or the “Company”) is pleased to provide highlights from our independent corporate reserves evaluation prepared by Sproule Associates Ltd. (“Sproule”) with an effective date of December 31, 2018 (the “Sproule Report”). 2018 RESERVES HIGHLIGHTS With net capital expenditures of $93 million ($103.2 million gross)1, Crew successfully … Read moreCrew Energy Announces Year End 2018 Reserves

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ARC Resources Ltd. Reports Fourth Quarter and Year-end 2018 Financial and Operational Results

February 7, 2019 CNW CALGARY, Feb. 7, 2019 /CNW/ – (ARX – TSX) ARC Resources Ltd. (“ARC” or the “Company”) is pleased to report its fourth quarter and year-end 2018 financial and operational results. Fourth quarter production averaged 136,502 boe per day, net income was $159.7 million ($0.45 per share), funds from operations totaled $208.6 million ($0.59 per share), and net debt was $702.7 million as at December … Read moreARC Resources Ltd. Reports Fourth Quarter and Year-end 2018 Financial and Operational Results

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Brent oil edges up, heads for weekly loss on slowdown worries

LONDON (Reuters) – Benchmark Brent oil inched up on Friday but was heading for a weekly loss, pulled down by worries about a global economic slowdown, although OPEC-led supply cuts and U.S. sanctions against Venezuela provided crude with some support. Weighing on financial markets were concerns that a trade dispute between the United States and … Read moreBrent oil edges up, heads for weekly loss on slowdown worries

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Parex Resources Announces 24% Growth in Proved Developed Producing Reserves

CALGARY, Alberta, Feb. 07, 2019 (GLOBE NEWSWIRE) — Parex Resources Inc. (“Parex” or the “Company”) (TSX:PXT) is pleased to announce the results of its annual independent reserves assessment as at December 31, 2018. The financial and operational information contained below is based on the Company’s unaudited expected results for the year ended December 31, 2018.  … Read moreParex Resources Announces 24% Growth in Proved Developed Producing Reserves

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OPEC Cuts? Rates Plunge? Oil Tanker Market to Shrug It All Off

Feb 7, 2019, by Firat Kayakiran (Bloomberg) It’s never ideal if you own a fleet of crude tankers and the world’s oil producers remove millions of barrels of cargo from the market to avert a glut. Nor is a collapse in charter rates normally the best news. While both those things happened in the past … Read moreOPEC Cuts? Rates Plunge? Oil Tanker Market to Shrug It All Off

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Five Things to Know in World Business Today

Feb 8, 2019, by Samuel Potter (Bloomberg) Here we go again Markets are having a rough time of it, after Europe practically gave up on the whole idea of economic momentum for the time being and Tariff Man said he won’t meet Chinese President Xi Jinping before the March 1 expiry of the current truce. Oh, and the trade cease-fire between … Read moreFive Things to Know in World Business Today

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State Governor says Washington will try to influence Trans Mountain ‘every way’ it can to cancel project

SEATTLE — Washington Gov. Jay Inslee says his state shares concerns with British Columbia about the Trans Mountain pipeline expansion and will continue to voice its objections any way it can.
Inslee made the comments at a joint news conference in Seat…

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Anti-OPEC Bill Allowing U.S. to Sue Oil Cartel Moves Forward

Feb 7, 2019, by Stephen Cunningham (Bloomberg) Legislation that would allow the U.S. government to sue OPEC for inflating oil prices cleared a key hurdle in the new session of Congress. The House Judiciary Committee, now led by Democrats, advanced the “No Oil Producing and Exporting Cartels Act” Thursday. That sets the bipartisan “NOPEC” bill, … Read moreAnti-OPEC Bill Allowing U.S. to Sue Oil Cartel Moves Forward

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Battery-Backed Solar Breaks Into Grid Long Seen Off Limits

Feb 7, 2019, by Brian Eckhouse and Christopher Martin (Bloomberg) Solar is breaking into a power market that’s long been the domain of big, conventional generators. A key reason: batteries. New England just approved 145 megawatts of solar systems to provide capacity to the local grid, according to a statement Wednesday, including some from Sunrun … Read moreBattery-Backed Solar Breaks Into Grid Long Seen Off Limits

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Chevron Aligns Strategy With Paris Deal But Won’t Cap Output

Feb 7, 2019, by Kevin Crowley and Eric Roston (Bloomberg) Chevron Corp. vowed to cut greenhouse gas emissions in alignment with the Paris Accord on climate change, potentially averting a shareholder rebellion at its annual general meeting. The U.S. oil major pledged to reduce air pollution intensity by 25 to 30 percent by 2023, as … Read moreChevron Aligns Strategy With Paris Deal But Won’t Cap Output

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TransCanada to cut spot rates on Keystone oil pipeline from Canada to Texas

    NEW YORK (Reuters) – TransCanada Corp on Thursday filed with U.S. energy regulators to cut its spot rates to transport crude from Hardisty, Alberta, Canada to Port Arthur and Houston, Texas, just a month after filing to establish a new international tariff: The company said it would now charge uncommitted shippers $8.28 a … Read moreTransCanada to cut spot rates on Keystone oil pipeline from Canada to Texas

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Two Key Pipeline Shutdowns Cause Canadian Oil Price to Slip

Feb 7, 2019, by Robert Tuttle, Catherine Ngai and Sheela Tobben (Bloomberg) Canadian crude weakened after two critical oil pipelines remained partially shut amid an investigation into a possible leak in Missouri. Heavy Western Canadian Select for March traded at $10.30 below the calendar average for West Texas Intermediate crude futures, compared with a $9.40 … Read moreTwo Key Pipeline Shutdowns Cause Canadian Oil Price to Slip

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Heavy crude differential widens after part of Keystone line shuts

The Canadian heavy oil differential widened modestly against the West Texas Intermediate (WTI) benchmark on Thursday, after a portion of the critical Keystone pipeline shut down due to a potential leak: * Western Canada Select (WCS) heavy blend crude for March delivery in Hardisty, Alberta, was trading at $9.90 a barrel below WTI crude futures … Read moreHeavy crude differential widens after part of Keystone line shuts

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A MUST WATCH! From Edmonton – The Energy Industry Crisis in Alberta & Canada – Analysts, Policymakers, Frontline Workers & Premier Notley

What does the future of Alberta look like, how does it impact the rest of the country, and how can we prepare for the future? Watch from Edmonton, join the National Conversation with Rosemary Barton as questions are asked to Premier Rachel Notley, policymakers, analysts and frontline workers with insight into the challenges and opportunities … Read moreA MUST WATCH! From Edmonton – The Energy Industry Crisis in Alberta & Canada – Analysts, Policymakers, Frontline Workers & Premier Notley

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Baker Hughes, a GE company Announces January 2019 Rig Counts – Canada, U.S. & Internationally

HOUSTON & LONDON–(BUSINESS WIRE)–Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for January 2019 was 1,023, down 2 from the 1,025 counted in December 2018, and up 63 from the 960 counted in January 2018. The international offshore rig count for January 2019 was 241, up 7 from … Read moreBaker Hughes, a GE company Announces January 2019 Rig Counts – Canada, U.S. & Internationally

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Canadian Natural Resources Limited Provides an Update on the South Africa Block 11B/12B

Canadian Natural Resources

CALGARY, Alberta, Feb. 07, 2019 (GLOBE NEWSWIRE) — Canadian Natural Resources Limited (“Canadian Natural” or the “Company”) announces in connection with its 20% working interest in the South Africa Block 11B/12B (“the Block”), the operator of the exploration well, Total E&P South Africa B.V. (“Total”) has issued a press release with updates related to the … Read moreCanadian Natural Resources Limited Provides an Update on the South Africa Block 11B/12B

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Just Energy Reports Third Quarter 2019 Results

Base EBITDA increased 11% in the quarter driven by robust gross margin improvement Embedded gross margin remains stable at $2.3 Billion  Management reaffirms full fiscal year Base EBITDA guidance TORONTO, Feb. 06, 2019 (GLOBE NEWSWIRE) — Just Energy Group Inc. (TSX:JE; NYSE:JE), leading consumer company focused on essential needs including electricity and natural gas commodities, … Read moreJust Energy Reports Third Quarter 2019 Results

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Five Things to Know in World Business Today

Feb 7, 2019, by Samuel Potter (Bloomberg) Shutdown countdown Every big media organization needs a wall full of clocks, usually to check the time across the world’s major cities. It’s no different at Five Things’ global HQ (Bloomberg basement level 2, left after the stationery supplies), except ours are countdown clocks. They count down to … Read moreFive Things to Know in World Business Today

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TransCanada’s Keystone oil pipeline shut after possible leak near St. Louis: traders

(Reuters) – A part of TransCanada Corp’s Keystone oil pipeline was shut on Wednesday after a possible leak in the St Louis, Missouri, area, according to three sources familiar with the matter. It was unclear, however, if the leak was from the Keystone pipeline itself, traders said, adding that the Steele-City-to-Patoka line was shut. “The … Read moreTransCanada’s Keystone oil pipeline shut after possible leak near St. Louis: traders

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Oil Steady Near $54 as Fuel-Inventory Drop Tempers Economy Angst

Feb 7, 2019, by Tsuyoshi Inajima and Grant Smith (Bloomberg) Oil steadied near $54 a barrel as a decline in American fuel inventories signaled that demand remains healthy despite ongoing concerns about the global economy. Inventories of winter fuel in the U.S. fell more than expected last week as cold polar air blasted the nation, … Read moreOil Steady Near $54 as Fuel-Inventory Drop Tempers Economy Angst

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Partial oil upgrading the latest fix for Canada’s pipeline problem

By Rod Nickel WINNIPEG, Manitoba, Feb 7 (Reuters) – Canada’s struggling oil industry is looking to what is known as partial upgrading technology to thin its sludge-like crude and squeeze more of it through congested pipelines. It is the latest effort by the Alberta provincial government to rescue an industry hurt last year by steep … Read morePartial oil upgrading the latest fix for Canada’s pipeline problem

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What Crash? Big Oil Proves the Crude Price Is Just a Number

Feb 7, 2019, by Kelly Gilblom and Rakteem Katakey (Bloomberg) The crude market had its worst quarter in four years but you wouldn’t be able to tell by looking at Big Oil’s stellar earnings numbers. The world’s five largest publicly traded oil companies exceeded analyst expectations, in some cases obliterating them. The result lends credibility … Read moreWhat Crash? Big Oil Proves the Crude Price Is Just a Number

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Suncor CEO sees Alberta government oil curtailments ending early

February 6, 2019 Reuters Suncor Energy Inc , one of Canada’s biggest oil producers, expects the province of Alberta to end mandatory production curtailments ahead of schedule as they have caused a price boost that makes rail shipments uneconomic, Chief Executive Officer Steve Williams said on Wednesday. Such unintended consequences are happening faster than the … Read moreSuncor CEO sees Alberta government oil curtailments ending early

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United States becomes top source for Britain’s oil imports

United States becomes top source for Britain’s oil imports February 6, 2019 Reuters * Crude oil imports from the United States to Britain in January overtook supplies from other countries for the first time since such shipments began in 2015, data from energy analysts at Kpler showed. * The United States lifted an oil export ban … Read moreUnited States becomes top source for Britain’s oil imports

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Perpetual Grows Year-end Reserves and Reports Strong Finding Costs and Recycle Ratio

February 6, 2019 CNW CALGARY, Feb. 6, 2019 /CNW/ – (TSX:PMT) – Perpetual Energy Inc. (“Perpetual”, or the “Company”) is pleased to release a summary of the Company’s year-end 2018 reserves as reported by the independent engineering firm McDaniel and Associates Consultants Ltd. (“McDaniel”). To preserve value during the low natural gas price environment in Alberta in 2018, Perpetual limited capital spending on … Read morePerpetual Grows Year-end Reserves and Reports Strong Finding Costs and Recycle Ratio

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Hemisphere Energy Provides Operations Update with Record Production of Approximately 1600 boe/d

February 6, 2019 CNW VANCOUVER, Feb. 6, 2019 /CNW/ – Hemisphere Energy Corporation (TSX-V: HME) (“Hemisphere” or the “Company”) is pleased to provide an update on its Southern Alberta operations following the 11 well drilling program that was completed in the fall of 2018. Based on field estimates, corporate production during the period of January 28 to February 4, 2019 averaged approximately 1600 … Read moreHemisphere Energy Provides Operations Update with Record Production of Approximately 1600 boe/d

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Suncor Energy reports fourth quarter 2018 results

February 5, 2019 Globe Newswire Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards, specifically International Accounting Standard 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a working interest basis, before royalties, … Read moreSuncor Energy reports fourth quarter 2018 results

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Eagle Energy Inc. Announces Change in Board of Directors

February 5, 2019 CNW CALGARY, Feb. 5, 2019 /CNW/ – (TSX: EGL):  Eagle Energy Inc. (“Eagle“) reports that, due to changes in his professional priorities and the reduced availability which those changes entail, Mr. Wes Schrader has announced his decision to retire as a director of Eagle effective immediately.  Eagle thanks Mr. Schrader for his service to the company and … Read moreEagle Energy Inc. Announces Change in Board of Directors

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Trans Mountain should be back on track pending NEB update, Notley says

Michelle Bellefontaine · CBC News Alberta Premier Rachel Notley says the Trans Mountain pipeline expansion should be back on track if a National Energy Board report due later this month “goes our way.” Last summer, the Federal Court of Appeal quashed the project’s approval, bringing construction to a halt. The court ordered the NEB to … Read moreTrans Mountain should be back on track pending NEB update, Notley says

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Oil Extends Loss on Economic Outlook and U.S. Inventory Concerns

Feb 6, 2019, by Tsuyoshi Inajima (Bloomberg) Oil extended losses below $54 a barrel on signs of a weakening economy and an industry report pointing to rising U.S. crude inventories. Futures in New York fell as much as 0.6 percent after a 1.7 percent drop on Tuesday. A gauge of demand for U.S. service industries … Read moreOil Extends Loss on Economic Outlook and U.S. Inventory Concerns

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Trump Touts U.S. as Net Energy Exporter — But He’s a Bit Early

Feb 6, 2019, by Jennifer A. Dlouhy (Bloomberg) President Donald Trump used his State of the Union address Tuesday night to tout “a revolution in American energy” that has made the U.S. “a net exporter” — but some of his celebration might be premature. Although the U.S. briefly became a net petroleum exporter during one … Read moreTrump Touts U.S. as Net Energy Exporter — But He’s a Bit Early

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Five Things to Know in World Business Today

Feb 6, 2019, by Lorcan Roche Kelly (Bloomberg) Not yielding President Donald Trump’s State of the Union address talked up bipartisanship, while sticking with White House demands to build a border wall and calling for an end to “partisan investigations.” Trump reiterated a trade deal with China would need to include structural change on the Asian … Read moreFive Things to Know in World Business Today

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OPEC’s Oil Exports to U.S. Fall to Five-Year Low in January

Feb 6, 2019, by Mike Jeffers (Bloomberg) Less foreign oil is reaching American shores, as OPEC production cuts kick in and U.S. sanctions on Venezuela curb its exports. Crude shipments to the U.S. from OPEC and its partners fell to 1.41 million barrels a day in January, the lowest in five years, according to data … Read moreOPEC’s Oil Exports to U.S. Fall to Five-Year Low in January

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Loss of Venezuelan oil exports won’t leave huge gap in global market

LONDON (Reuters) – There is ample spare capacity in other oil producers and strategic reserves to compensate for a loss of Venezuela’s crude exports, helping explain the tepid reaction of global oil prices to U.S. sanctions announced a week ago. Venezuela exports around 1 million barrels of oil per day, about 1 percent of global … Read moreLoss of Venezuelan oil exports won’t leave huge gap in global market

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Bet everything on electric: Inside Volkswagen’s radical strategy shift

WOLFSBURG, Germany (Reuters) – If Volkswagen realizes its ambition of becoming the global leader in electric cars, it will be thanks to a radical and risky bet born out of the biggest calamity in its history. The German giant has staked its future, to the tune of 80 billion euros ($91 billion), on being able … Read moreBet everything on electric: Inside Volkswagen’s radical strategy shift

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How to solve the problem of incomplete STICK diagram information

Each week, XI Technologies scans their unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like Wednesday Word to the Wise delivered directly to your inbox, subscribe here. In 2018, the Alberta Energy Regulator (AER) published a list of the “Five Most … Read moreHow to solve the problem of incomplete STICK diagram information

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Introducing the Most Technologically Advanced Coiled Tubing Unit – STEP’s COMMAND CENTER-IQ

Step Energy Services Feature

Calgary, AB (Feb 6, 2019) – In early January STEP’s new COMMAND CENTER-IQ, C25, set off on its maiden voyage for a client in northwest Alberta. During the operation, downhole milling efficiencies were gained by using valuable downhole data retrieved in real-time and from the customizable automation parameters which is a standard feature of the new unit. … Read moreIntroducing the Most Technologically Advanced Coiled Tubing Unit – STEP’s COMMAND CENTER-IQ

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The 2019 Global Petroleum Show Strategic and Technical Conference Program is now available!

GPS2019 Logo Feature

Thought leaders from the global oil and gas value chain unite with the finance community and policymakers to address the most critical issues affecting the industry today. On the cusp of new age for our industry, we must rethink how and where we operate. Now is the time to embrace change and put strategies and … Read moreThe 2019 Global Petroleum Show Strategic and Technical Conference Program is now available!

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Trump’s Refiner Squeeze: Venezuela Sanctions, Keystone Failure

Feb 5, 2019, by Jennifer A. Dlouhy and Rachel Adams-Heard (Bloomberg) U.S. refiners are eager to buy Canadian heavy crude to replace supplies they had been importing from Venezuela that are now blocked by Trump administration sanctions. But there’s not enough space on pipelines and trains to get it across the border. TransCanada Corp.’s proposed … Read moreTrump’s Refiner Squeeze: Venezuela Sanctions, Keystone Failure

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TONIGHT – LIVE: What is the future of Alberta? Rachel Notley answers your questions about energy, the economy and pipelines

Alberta Premier Rachel Notley will speak with The National’s Rosemary Barton in Edmonton on Tuesday about the province’s energy sector. (Jason Franson/Canadian Press  Alberta Premier Rachel Notley will answer questions from Canadians live on social media and in person in Edmonton on Tuesday on the future of the province’s energy sector. Issues will include how the oil … Read moreTONIGHT – LIVE: What is the future of Alberta? Rachel Notley answers your questions about energy, the economy and pipelines

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Pieridae Negotiates a Benefits Agreement With the Mi’kmaq of Nova Scotia

CALGARY, Alberta, Feb. 04, 2019 (GLOBE NEWSWIRE) — Pieridae Energy Limited (Pieridae) (TSXV: PEA) is pleased to announce that the Nova Scotia Mi’kmaq Benefits Agreement which it negotiated with the Assembly of Nova Scotia Mi’kmaq Chiefs (the Assembly) has now been ratified. “We are looking forward to collaborating with the Mi’kmaq of Nova Scotia, and … Read morePieridae Negotiates a Benefits Agreement With the Mi’kmaq of Nova Scotia

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Freezing Cold Means Love-Hate Relationships With Electric Cars

by Hailey Waller, Craig Trudell and Brandon Kochkodin (Bloomberg) — The next time a polar vortex rips through Canada and the U.S., electric vehicle owners should be prepared to be frustrated if they don’t take special care of their battery-powered rides. Winter has come for Tesla Inc. and its army of car owners, which swelled … Read moreFreezing Cold Means Love-Hate Relationships With Electric Cars

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In squeezed oil industry, some rethink hunt for new barrels

LONDON (Reuters) – New partnerships are emerging in the global hunt for oil discoveries, with some explorers essentially offering an outsourcing service for the riskiest part of the energy business. Central to this new strategy are efforts to find an ally earlier in the process of discovering new fields, and on a larger scale, in … Read moreIn squeezed oil industry, some rethink hunt for new barrels

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Oil Supermajors’ Torrent of Cash Earns Love From Investors

Big Oil

Feb 5, 2019, by Rakteem Katakey and Kelly Gilblom (Bloomberg) The world’s biggest oil companies are pumping out cash like crude’s at $100 a barrel again, and investors love it. Exxon Mobil Corp., Royal Dutch Shell Plc, Chevron Corp. and BP Plc smashed analysts’ earnings estimates for the fourth quarter, giving investors assurance that their … Read moreOil Supermajors’ Torrent of Cash Earns Love From Investors

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