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Oil prices end week flat; weak U.S. demand offsets Mideast tensions

October 20, 2017 Reuters NEW YORK (Reuters) – Oil prices were flat on Friday in see-saw trade, under pressure from weak U.S. demand but drawing support from a sharp decline in Iraqi crude exports due to tensions in the Kurdistan region. U.S. light crude was 10 cents higher at $51.39. Brent crude was up 24 cents … Read more

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Predator Drilling
Environmental Refueling Systems (ERS)
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Versa-Line
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Assetworks

Slow North America Oil Growth Hits Hard on Service Companies

 October 20, 2017 (Bloomberg) Schlumberger Ltd. and  Baker Hughes, the world’s two biggest oilfield service companies, say North America’s growth engine is slowing. The investment appetite by explorers in North America “seems to be moderating” with the priority now being preservation of cash flow rather than the pursuit of continued production growth, Schlumberger said in an … Read more

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Techmation Electric & Controls
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U.S. oil drillers cut rigs for a third week in a row -Baker Hughes

Baker-Hughes

October 20, 2017 Reuters The U.S. oil rig count fell for a third week in a row, extending a two-month drilling decline, although producers have sharply ramped up bets against a fall in oil prices, which could spur another investment surge.The oil rig count fell seven to 736 in the week to Oct. 20, the lowest … Read more

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Techmation Electric & Controls
Environmental Refueling Systems (ERS)
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Versa-Line
Galdos Systems
Assetworks
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U.S. natural gas prices under pressure even as stocks tighten

October 20, 2017 Reuters LONDON, Oct 20 (Reuters) – U.S. natural gas stocks continue to tighten, but most traders appear unconcerned, with futures prices for gas delivered this winter close to the lowest levels since the start of the year. Working gas stocks in underground storage were 35 billion cubic feet (bcf) below the five-year average … Read more

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Techmation Electric & Controls
Environmental Refueling Systems (ERS)
Galloway Construction Group
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FUELware
Galdos Systems
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Versa-Line

Canada Weekly Rig Down 10 to 202 for Week Ending October 20, 2017

Canada’s drilling rigs decreased by 10 to 202 active drilling rigs according to data collected by Baker Hughes for the week of October 20th. From one week ago, Alberta rig counts decreased from 144 to 141, the Saskatchewan rig count decreased by 10 from 40 to 30. Oil drilling declined by 5 to 107 and … Read more

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Predator Drilling
Environmental Refueling Systems (ERS)
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FREE MNP Webinar – November 2: Proposed Federal Tax Changes: What They Mean for You and Your Business – Register HERE

MNP_logo_Feature

November 2, 2017. Thank you for joining us for this timely webinar with MNP’s Mark Bernard, CPA, CA, on the impact of proposed federal tax changes to oilfield services companies. During Mark’s presentation, you will hear what the changes could mean to your tax strategies, the steps to consider before the end of the year … Read more

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Galloway Construction Group
Techmation Electric & Controls
Environmental Refueling Systems (ERS)
Predator Drilling
FUELware
Versa-Line
Galdos Systems
Assetworks

Perpetual Energy Inc. Announces Appointment of Director

October 19, 2017 PR Newswire (TSX:PMT) – CALGARY, Oct. 19, 2017 /PRNewswire/ – Perpetual Energy Inc. (“Perpetual”) is pleased to announce the appointment of Mr. Ryan Shay to the Board of Directors. Mr. Shay brings over 20 years of experience in the oil and gas industry, retiring in June 2016 from his position as Managing Director, Head of Investment Banking for Cormark Securities. … Read more

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Predator Drilling
Environmental Refueling Systems (ERS)
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Blackbird Energy Inc. Announces the Appointment of Karen Minton as Chief Financial Officer

October 19, 2017 Globe Newswire CALGARY, Alberta, Oct. 19, 2017 (GLOBE NEWSWIRE) — (TSX-V:BBI) Blackbird Energy Inc. (“Blackbird” or the “Company”) is pleased to announce the appointment of Karen Minton as Chief Financial Officer of the Company, effective immediately. “I am delighted to have Karen join the Blackbird team and look forward to working with her. Karen … Read more

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Techmation Electric & Controls
Environmental Refueling Systems (ERS)
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Oil Geopolitical-Risk Rally Fades as Iraq Works to Revive Fields

Oilpatch Image

 October 20, 2017, by Sharon Cho and Grant Smith (Bloomberg)  A surge in crude prices faded as Iraq sought to restore flows from fields in a disputed region after violence had curbed output in OPEC’s second-biggest producer. Futures fell as much as 1.1 percent in London, further eroding the gain of 3.4 percent from last … Read more

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Predator Drilling
Environmental Refueling Systems (ERS)
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Techmation Electric & Controls
Assetworks
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Galdos Systems
Versa-Line

Five Things World Business Will be Talking About Today

October 20, 2017 by Lorcan Roche Kelly (Bloomberg)  Fed chair shortlist whittles down to two, the Senate adopts budget resolution, and it’s weekend election watch. Here are some of the things people in markets are talking about today. Powell or Taylor? Advisors close to President Donald Trump are steering him toward choosing either Federal Reserve Board Governor … Read more

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Predator Drilling
Galloway Construction Group
Environmental Refueling Systems (ERS)
Techmation Electric & Controls
Galdos Systems
FUELware
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Assetworks

Canada Inflation Jumps to 1.6% on Gasoline Prices: Key Takeaways

October 20, 2017 by Theophilos Argitis (Bloomberg)  Canadian consumer price inflation in September jumped to its highest level since April on gasoline prices, but the gain was less than expected. Highlights of Consumer Price Report Annual inflation accelerated to 1.6%, due to higher gasoline prices, versus economist expectations for 1.7% Excluding gasoline, annual inflation rate … Read more

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Galloway Construction Group
Environmental Refueling Systems (ERS)
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Morneau to Divest 1 Million Shares of Family Company in Tax Flap

October 19, 2017 (Bloomberg)  Finance Minister Bill Morneau will divest all shares in his family’s company as questions about his personal finances cloud the outlook for the Canadian government’s push to overhaul the tax code. Morneau announced Thursday afternoon in Ottawa that he will place his family’s assets in a blind trust and divest roughly … Read more

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Galloway Construction Group
Environmental Refueling Systems (ERS)
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Five Things World Business Will be Talking About Today

October 19, 2017 by Lorcan Roche Kelly (Bloomberg) Catalan crisis intensifies, tax debate heats up, and U.K. hit by feeble data. Here are some of the things people in markets are talking about today. Not backing downCatalan President Carles Puigdemont refused to drop his claim to independence for the region in a letter delivered just ahead of a deadline … Read more

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Environmental Refueling Systems (ERS)
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OPEC Sends Strongest Signal That Cuts May Extend to End-2018 

OPEC

October 19, 2017 by Javier Blas, Grant Smith and Annmarie Hordern (Bloomberg) OPEC sent its strongest signal yet for an extension of production cuts until the end of 2018, saying preparations for the next meeting are taking their lead from Russian President Vladimir Putin’s tentative backing for a further nine months of curbs. If the Organization … Read more

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Environmental Refueling Systems (ERS)
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Oil Slips as U.S. Product Stockpiles Build, Traders Take Profit

October 19, 2017 (Bloomberg)  Oil dropped in New York, snapping four days of gains, as traders took profit amid disruption in Iraq and U.S. product inventories grew. Futures fell as much as 1.7 percent after rising almost 3 percent the past four sessions. Gasoline stockpiles expanded for a fourth week, while distillate supplies rose for … Read more

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Predator Drilling
Environmental Refueling Systems (ERS)
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Galdos Systems

COMING IN NOVEMBER! Launching EnergyNow.com! Promote Your Business in the U.S – Get Details HERE

  COMING IN NOVEMBER!! Next month, Enerpoint iMedia Corp. (EnergyNow.ca & EnergyNow SHOWCASE Digital Directory) is launching EnergyNow.com . Similar  in look to EnergyNow.ca in Canada, EnergyNow.com will also be an online news, data, features and events media service focusing on energy industry information in the U.S. If your business is looking to grow your U.S. … Read more

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Trudeau, Notley Say Yes to Pipelines But Their Behavior is Saying “No”

October 18, 2017 While telling people that they understand the importance of the pipelines, Notley and Trudeau piled up the regulatory bricks to ensure they were not viable TransCanada’s withdrawal of its proposal to build the Energy East and Eastern Mainline oil pipelines is a huge loss to Canada and Canadian workers – a $16 … Read more

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Environmental Refueling Systems (ERS)
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Inter Pipeline’s Mid Saskatchewan pipeline loses power due to storms

October 18, 2017  Inter Pipeline Ltd’s 82,000 barrel per day Mid Saskatchewan crude oil pipeline has lost power following stormy weather in western Canada, a company spokeswoman said on Wednesday.The regional gathering pipeline delivers light and heavy crude into Kerrobert, Saskatchewan. “We do not know the length of this particular outage, it is based on … Read more

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Predator Drilling
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The October 28th Vote: Which UCP Leadership Candidate Is Best Qualified To Repair Alberta’s Finances & Struggling Oilpatch? Find Out Right HERE! – David Yager

David-Yager-Feature-Image

By David Yager Oilfield Services Executive Advisory – Energy Policy Analyst October 17, 2017 While a few in Alberta’s oilpatch may still support Rachel Notley’s NDP government, they rarely mention it at work. Most oil workers who voted NDP last election are silent or have contracted amnesia. As the countdown to the next election continues, … Read more

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Techmation Electric & Controls
Environmental Refueling Systems (ERS)
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Oil Rises on Demand Signs After Goldman Flags Geopolitical Risks

Oil-Prices

October 18, 2017 by Heesu Lee and Alex Longley (Bloomberg)  Oil extended gains as signs of declining U.S. stockpiles pointed to healthy demand while investors weighed disruptions to supply because of global geopolitical tensions. Futures in New York rose as much as 0.8 percent after adding 2.5 percent in the past three sessions. Flows of … Read more

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Environmental Refueling Systems (ERS)
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Galdos Systems
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Who Has the World’s No. 1 Economy? Not the U.S.: Noah Smith

October 18 by Noah Smith (Bloomberg View)  What’s the most powerful country in the world? There’s a good case to be made that it’s China. There are many kinds of power — diplomatic, cultural, military and economic. So an easier question to ask is: What’s the world’s largest economy? That’s almost certainly China. Many might … Read more

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Environmental Refueling Systems (ERS)
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Encana Calls End to Permian Land Race as Focus Turns to Output

October  18, 2017 by Kevin Orland (Bloomberg) Encana Corp. Chief Executive Officer Doug Suttles says drillers in Texas’s prolific Permian Basin can no longer impress investors with how much acreage they’re snapping up or how quickly they’re boosting production. Instead, investors will focus on how profitably companies are able to produce from their current holdings, … Read more

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Predator Drilling
Galloway Construction Group
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Environmental Refueling Systems (ERS)
Versa-Line
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Five Things World Business Will be Talking About Today

October 18, 2017 by Lorcan Roche Kelly (Bloomberg)  China’s Communist Party congress begins, confusion over Obamacare, and U.K. internal divisions hinder Brexit talks. Here are some of the things people in markets are talking about today. Xi ambitions  China’s President Xi Jinping’s three-hour speech to the twice-a-decade Communist Party gathering in Beijing laid out a sweeping vision to transform … Read more

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Predator Drilling
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Techmation Electric & Controls
Environmental Refueling Systems (ERS)
Versa-Line
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Galdos Systems

Mexico and Canada Reject U.S. Nafta Demands as Talks Wrap Up

October 17, 2017 Josh Wingrove, Andrew Mayeda and Eric Martin (Bloomberg) The ministers leading Nafta negotiations are set to wrap up the latest round of high-level talks after Canada and Mexico rejected what they see as hardline proposals by the U.S. U.S. Trade Representative Robert Lighthizer, Mexican Economy Minister Ildefonso Guajardo and Canadian Foreign Minister Chrystia … Read more

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Galloway Construction Group
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Drillform Technical Services Debuts Bulldog 90 Automated Floor Wrench Product Video

Also Announces Relocation of Its Calgary Facility CALGARY, Alberta, Oct. 17, 2017 (GLOBE NEWSWIRE) — Drillform Technical Services Ltd. announces commercial availability of its Bulldog 90 Automated Floor Wrench, an iron roughneck that provides superb performance, automation, and operational efficiency for drilling rigs. “Drillform is dedicated to bringing technically advanced & practical equipment design to … Read more

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Environmental Refueling Systems (ERS)
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Versa-Line

Brady Releases New BradyPrinter i7100 Industrial Label Printer

BRADYLOGO-feature

NEWS RELEASE: For Immediate Release New printer combines workhorse capabilities with high-precision printing MILWAUKEE, Wis. (October 12, 2017) — Brady (NYSE:BRC), a global leader in industrial and safety printing systems and solutions, announced today the launch of the BradyPrinter i7100 Industrial Label Printer. This new industrial printer is optimized for printing on a variety of … Read more

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Techmation Electric & Controls
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Source Energy Services Ltd. Announces Acquisition of Preferred Sands’ Wisconsin Mine, Processing Facility and Canadian Frac Sand Assets as well as $90 Million in Equity Financings

FOR: SOURCE ENERGY SERVICES LTD.TSX SYMBOL: SHLEDate issue: October 17, 2017Time in: 3:42 PM eAttention:
And an Expected Increase in its Revolver Limit Under its Credit Facilities
CALGARY, ALBERTA–(Marketwired – Oct. 17, 2017) –
NOT FOR DISTRIBUTION …

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Assetworks
Galdos Systems
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Gardner Denver Onshore Drilling Program Poised for Growth in the Rockies

Gardner-Denver-feature

October 16, 2017 (HOUSTON) – Gardner Denver Petroleum & Industrial Pumps (P&IP), the only total solutions provider to the drilling, well servicing and frac pumps market, today announced a significant sale of PXL2000HP drilling pumps to an industry-leading contract driller located in the Rocky Mountain Region. “We are thrilled to see expansion of these high pressure pumps in … Read more

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Techmation Electric & Controls
Galloway Construction Group
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Galdos Systems
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Oil builds on gains as Iraq, U.S.-Iran tension raises risks

Oil-Prices

October 17, 2017 Reuters  LONDON (Reuters) – Oil prices firmed on Tuesday, building on gains made as fighting between Iraqi and Kurdish forces threatened supplies from northern Iraq while tension rose between the United States and Iran. After months of rangebound trading, during which OPEC-led supply cuts supported crude but rising U.S. output capped markets, prices … Read more

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Galloway Construction Group
Environmental Refueling Systems (ERS)
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Techmation Electric & Controls
Versa-Line
Assetworks
Galdos Systems
FUELware

Five Things World Business Will be Talking About Today

October 17, 2017 (Bloomberg) Fed candidate Taylor impresses Trump, North Korea sounds nuclear threat, and U.K. inflation hits highest in over five years. Here are some of the things people in markets are talking about today. Fed decisionPresident Donald Trump was left with a favorable impression of Stanford University economist John Taylor after the pair met for an hour … Read more

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Predator Drilling
Galloway Construction Group
Environmental Refueling Systems (ERS)
Techmation Electric & Controls
FUELware
Versa-Line
Assetworks
Galdos Systems

Helping your Front Line Supervisor Increase Productivity – T.A. Cook

TA Cook Logo

For a front line supervisor to be successful, the right structure, behaviors and reporting systems must be in place. By: MARK RIGDON, CMRP, Manager T.A. Cook Consultants Inc. Often, the front line supervisor (FLS) has to walk a tightrope when it comes to productivity. They are responsible for completing work according to schedule, but the … Read more

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Environmental Refueling Systems (ERS)
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Galdos Systems
Assetworks
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Versa-Line

This Week! Small Business Week 2017 in Calgary! See Events HERE

smallbusinessweek_logo_feature

  CALGARY –  This week marks 35 years of BDC Small Business Week™ festivities in Calgary. As a city fueled by entrepreneurial spirit, these five days provide a unique opportunity to shine a spotlight on the small but mighty businesses that make Calgary great. “When people think of business they think of global companies and tall office … Read more

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Techmation Electric & Controls
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Environmental Refueling Systems (ERS)
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Kinder Morgan Canada pipe project hearings end, fate in balance

Pipeline-construction-canada

October 16, 2017  Reuters A Canadian court wrapped up a final hearing on Kinder Morgan Canada Ltd’s Trans Mountain crude oil pipeline expansion on Friday, a two-week proceeding that marks a major hurdle for the embattled project.The proposed expansion of the existing Trans Mountain pipeline from Canada’s oil-rich Alberta province to the west coast has … Read more

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Petrolia Obtains Final Order and Announces an Amendment to the Arrangement Agreement, the Declaration of a Special Dividend, the Arrangement Closing Date and a Halt on Trading

FOR: PETROLIA INC.TSX VENTURE SYMBOL: PEADate issue: October 16, 2017Time in: 2:54 PM eAttention:
QUEBEC CITY, QUEBEC–(Marketwired – Oct. 16, 2017) – Petrolia Inc. (TSX
VENTURE:PEA ) (“Petrolia” or the “Company”) is pleased to announce that it has
ob…

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Environmental Refueling Systems (ERS)
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Canada Weekly Rig Count Up 3 to 212 for Week Ending October 13, 2017

Canada’s drilling rigs increased by 3 to 212 active drilling rigs according to data collected by Baker Hughes for the week of October 13th. From last week, Alberta rig counts increased from 139 to 144, the Saskatchewan rig count remained at 40. Oil drilling remained the same at 112 and gas rigs went from 97 … Read more

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Techmation Electric & Controls
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New era of oil supply certainty force changes in Canadian producers’ strategies

Oilpatch Image

CALGARY — A shift in global oil markets sentiment is under way, replacing decades of scarcity fears with confidence in surpluses, capping oil prices and forcing changes in the way the industry works, observers say.
“We’re moving from a mindset where o…

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Environmental Refueling Systems (ERS)
Predator Drilling
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Galloway Construction Group
Galdos Systems
FUELware
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Oil Gains on Concern Iraq-Kurd Tensions Will Disrupt Crude Flows

Oil-Prices

October 16, 2017 (Bloomberg) Crude extended gains from the highest close in two weeks as speculation mounted over potential output disruptions in a region that’s home to Iraq’s oldest producing oil fields. Futures in London rose as much as 2.1 percent after adding 2.8 percent last week. Iraqi soldiers seized facilities including a refinery after mobilizing late … Read more

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Techmation Electric & Controls
Galloway Construction Group
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Assetworks
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OPEC Sees `Healthy’ Oil Demand Growth to 2022 as Renewables Gain

OPEC

October 15, 2017 (Bloomberg)  Oil demand will grow at a “healthy pace” over the next five years as renewables show the fastest expansion of any type of energy, the head of the Organization of Petroleum Exporting Countries said. Crude demand will climb an average 1.2 million barrels a day through 2022 and slow to 300,000 … Read more

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Galloway Construction Group
Predator Drilling
Techmation Electric & Controls
Environmental Refueling Systems (ERS)
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Galdos Systems

Five Things World Business Will be Talking About Today

October 16, 2017 (Bloomberg) Captains of global finance survey economic landscape, euro-area political season in full swing, and oil struggle takes hold in Iraq. Here are some of the things people in markets are talking about today. Global outlook Finance and monetary chiefs around the world took stock of the global economy over the weekend … Read more

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Environmental Refueling Systems (ERS)
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Need Marketing? Advertising Agency Vs. Specialty Agency – What’s the Difference? Learn More HERE – William Joseph

William Joseph Communications

So, you’ve finally come to terms with the fact that great marketing isn’t something that just “happens.” Great marketing needs a goal, a strategy, and an experienced collaborator who knows the in’s and out’s of how to stand up, and stand out. But, when you don’t have an internal marketing department, determining the solution to … Read more

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FEATURE: Tundra Process Solutions – Solutions From One End to Another

Tundra-Process-Solutions-Logo

A supplier and packager of innovative process technologies, Tundra Process Solutions (‘Tundra’) is unique in the depth and diversity of services and expertise that it provides. “We can provide a complete solution to the full scope of a project,” explains Blaine Barnes, VP of Marketing at Tundra. “We’re able to provide that complete package solution … Read more

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Why the “When” of Your Goals Determines Successful Achievement – Sandler Training

Sandler-Training

    Written by Hamish Knox; President of Sandler in Calgary, Canada Creating accountable, sales focused organizations in Calgary     Language matters when we set our goals because our brain is listening. Using the right language will keep you focused on the path to the mountaintops you established, but that language is scary. In this case … Read more

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Labour Market in Alberta – What can we expect in the coming months? Find Out HERE: Wendy Ferguson

Wendy-EnergyNow-Feature

A Commentary by Wendy Ferguson – BHRLR, CPHR My sources indicate that Alberta’s dire employment situation has just started to turn around.    I chose to inform you about the reality of our current labour market when yesterday I read CBC’s absurdly titled article, “Job vacancies soar in Alberta, led by surge in energy sector” to … Read more

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Environmental Refueling Systems (ERS)
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Oil Rises to Two-Week High Amid Optimism on Re-Balancing Process

October 13, 2017 (Bloomberg)  Oil climbed to the highest level in two weeks as dwindling U.S. crude stockpiles and near-record Chinese imports signaled the worldwide glut is eroding. Futures advanced 1.7 percent in New York Friday, posting the the biggest weekly gain in a month. In China, the world’s second-biggest oil market, crude imports in … Read more

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Techmation Electric & Controls
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U.S. oil drillers cut rigs for a second week in a row – Baker Hughes

Baker-Hughes

  October 13, 2017 Reuters The U.S. oil rig count fell for a second week in a row, extending a two-month drilling decline, even as crude prices rallied to over $50 per barrel. Drillers cut five oil rigs in the week to Oct. 13, bringing the total count up to 743, the lowest since early June, … Read more

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RMP Energy Announces Successful Shareholder Votes to Approve Transformational Asset Disposition and Corporate Name Change

October 13, 2017 Globe Newswire CALGARY, Alberta, Oct. 13, 2017 (GLOBE NEWSWIRE) — RMP Energy Inc. (“RMP” or the “Company“) (TSX:RMP) is pleased to announce that the holders of common shares of the Company (the “Shareholders“) approved today by an overwhelming majority (over 99 percent) the previously-announced transformational asset disposition (the “Transaction“) pursuant to which the … Read more

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Environmental Refueling Systems (ERS)
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OPEC Is Said to See Oil Inventory Glut Finally Gone in One Year

OPEC

October 13, 2017 by Grant Smith, Wael Mahdi and Angelina Rascouet (Bloomberg) OPEC expects its efforts to clear the surplus in oil inventories to finally succeed by the end of the third quarter of next year, said people familiar with the group’s internal forecasts. The Organization of Petroleum Exporting Countries and allies including Russia have … Read more

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Galloway Construction Group
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Galdos Systems

2017’s Top-Performing G-7 Economy (Canada) Is About to Shrink: Macquarie

October 12, 2017 (Bloomberg) Torrid second-quarter growth of 4.5 percent belies what’s coming up next for the Canadian economy: an outright contraction. That’s the view of Macquarie Capital Markets analyst David Doyle, who’s calling for the fortunes of the fastest-growing Group of Seven economy so far this year to reverse sharply in the third quarter. “Increasing evidence … Read more

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Oil Set for Weekly Gain on Rebalancing Signs From U.S. to China

October 13, 2017 by Grant Smith (Bloomberg)  Oil is heading for the biggest weekly gain since mid-September as a drop in U.S. crude stockpiles and near-record Chinese imports added to signs the global market is  rebalancing. Futures added 1.9 percent in New York. China’s crude imports last month jumped to the second-highest on record, customs … Read more

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Five Things World Business Will be Talking About Today

 October 13, 2017 by Lorcan Roche Kelly (Bloomberg) ECB said to extend and amend, Trump to give verdict on Iran deal, and commodities are rallying. Here are some of the things people in markets are talking about today. QE changes The European Central Bank is considering reducing its pace of asset purchases to €30 billion ($36 billion) per month … Read more

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Canada’s Besting Mexico in Nafta Talks (If You Trade Currencies)

October 13, 2017 by Katherine Greifeld (Bloomberg) Currency traders see the Mexican peso as a clear loser as negotiations over the North American Free Trade Agreement drag on, with the U.S. proposing a clause that could spell the end of the accord. Implied one-month volatility has been rising for the peso and falling for the … Read more

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Enbridge Inc. to Host a Joint Webcast with Enbridge Income Fund Holdings Inc., Enbridge Energy Partners, L.P. & Spectra Energy Partners, LP to Discuss Third Quarter Financial Results on Nov. 2

FOR: ENBRIDGE INC.TSX SYMBOL: ENBNYSE SYMBOL: ENBAND ENBRIDGE INCOME FUND HOLDINGS INC.TSX SYMBOL: ENFAND ENBRIDGE ENERGY PARTNERS, L.P.NYSE SYMBOL: EEPAND SPECTRA ENERGY PARTNERS, LPNYSE SYMBOL: SEPDate issue: October 12, 2017Time in: 5:15 PM eAttent…

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Enterprise Group’s Hart Oilfield Rentals: Custom, Cost-Effective On-Site Infrastructure Solutions

Enterprise Group logo Feature

As a key component of parent Enterprise Group, Hart Oilfield Rentals brings a unique business approach to the group; just as other subsidiary’s Westar Oilfield Rentals, Calgary Tunnelling and Artic Therm. Simply, if you are building a mining or oil business Hart rents customized equipment for project sites, drilling & completions and facilities that require … Read more

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Pengrowth Announces Significant Debt Repayment and Finalization of Agreements With Bank Syndicate and Noteholders to Amend Financial Covenants

FOR: PENGROWTH ENERGY CORPORATIONTSX SYMBOL: PGFNYSE SYMBOL: PGHDate issue: October 12, 2017Time in: 1:00 PM eAttention:
CALGARY, ALBERTA–(Marketwired – Oct. 12, 2017) – Pengrowth Energy Corporation
(TSX:PGF) (NYSE:PGH) is pleased to announce that it…

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Oil Slides Before U.S. Data as IEA Warns of Ceiling for Prices

Oil-Prices

October 12, 2017 by Ben Sharples and Grant Smith (Bloomberg)  Oil slid as investors waited to see if U.S. government data will confirm that crude stockpiles rose last week, and as the International Energy Agency warned of a ceiling for prices next year. Futures lost 0.9 percent in New York after climbing 4.1 percent in … Read more

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Just How Big Is Oil’s Invisible Friend, Natural Gas?: Gadfly

October 12, 2017 (Bloomberg Gadfly)  The world’s oil majors, beset by intimations of demand for their favorite product leveling off, seek comfort from an invisible friend. Compared to oil and coal, natural gas looks less fossilized. Long-term outlooks routinely show demand rising while it flattens for oil and falls for coal. This makes sense: Gas … Read more

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Five Things World Business Will be Talking About Today

October 12, 2017 (Bloomberg)  All eyes on Fed transition, U.K. prepares for the worst on Brexit, and Wall Street earnings season kicks off. Here are some of the things people in markets are talking about today. Who and when? There are two big questions facing the Federal Reserve at the moment. The September meeting minutes published … Read more

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Oil Pulls Back Gains After Industry Data Shows Crude Stocks Rising

Oil-Prices

October 11, 2017 (Bloomberg)  Oil pared gains after an industry report was said to show a surprise increase in U.S. crude inventories. Prices pulled back in after-market trading following the release of data from the American Petroleum Institute Wednesday, which was said to show crude stockpiles increased by 3.1 million barrels last week. A Bloomberg survey estimated … Read more

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NAFTA Negotiators to Tackle Energy Issues During Friday Meeting

October 11, 2017 by Catherine Traywick and Eric Martin (Bloomberg)  NAFTA negotiators are gathering in Washington for their fourth round of talks to update the trade deal, and energy is on the agenda — if only for two hours. U.S., Mexican and Canadian representatives will hold just one energy session late Friday during seven days … Read more

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Trump Calls Trudeau `Great Friend’ as Nafta Tension Remain High

October 11, 2017 by Jennifer Epstein, Josh Wingrove and Eric Martin (Bloomberg)  President Donald Trump and Canadian Prime Minister Justin Trudeau put up a front of accommodation and cooperation at the White House that belies the alarms being raised by industry and farm groups over changes to Nafta being pushed by the U.S. Trump called … Read more

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British Columbia Shuns Oil Tankers in Favor of Gas Exporters

October 10, 2017 by Meenal Vamburkar (Bloomberg)  British Columbia’s opposition to Kinder Morgan Inc.’s $5.8 billion oil pipeline expansion won’t stop Canada’s westernmost province from welcoming natural gas exporters. Kinder’s plan to haul more crude to the Pacific shore threatens coastal fisheries and tourism, Carole James, the province’s finance minister, said in an interview Tuesday … Read more

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Canadian Oil Sand’s High-Priced Run Set to End as Supply Surges

October 11, 2017 by Robert Tuttle (Bloomberg)  Canadian oil-sands producers enjoying the strongest market for heavy crude since 2008 will soon face a renewed glut. Suncor Energy Inc. expects its Fort Hills oil-sands mine to begin producing by year end, reaching as much as 175,000 barrels a day within a year. The startup will roughly … Read more

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Five Things World Business Will be Talking About Today

October 11, 2017 (Bloomberg) All eyes on Madrid as Catalonia blinks, changing tax laws is never easy, and Uber faces more U.S. criminal probes. Here are some of the things people in markets are talking about today. Pulling back  The Spanish government has maintained its hard line on Catalan secession after the president of the region yesterday … Read more

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Oil Holds Gains as OPEC Sees Recovery, Storm Curbs U.S. Output

Oil-Prices

October 11, 2017, by Grant Smith (Bloomberg)  Oil held gains near $51 a barrel as OPEC Secretary-General Mohammad Barkindo reiterated a rapid market re-balancing is under way, while U.S. production was again disrupted by a storm. Futures added 0.7 percent in New York after advancing 3.3 percent the previous two sessions. The global economic recovery has … Read more

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ENDING! Another energy industry print publication calls it quits: Oilweek Magazine

  At its monthly peak, Oilweek magazine was 130 pages of insight and influence. Its editors and writers covered the gamut, from Alberta’s glorious highs – oil being sold for $147.27 (U.S.) a barrel in July, 2008 – to its crippling lows – oil for less than $30 a barrel in February, 2016. But, last … Read more

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How Deep Will Saudi Cut Its Oil Output? To the Lowest Since 2015

October 10. 2017 (Bloomberg)  Saudi Arabia has promised to do “ whatever it takes” to end the global oil gut. If it cuts supplies in November by as much as it pledges, the kingdom will reduce production and exports alike by more or less a million barrels a day compared with last year. And that’s … Read more

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A look at nine candidates left in the government’s supercluster competition

The federal government has narrowed down to nine the candidates for $950 million in funding for supercluster sites. The government hopes to create dense business areas with the initiative where large and small companies can collaborate with research institutes and organizations to commercialize ideas. Here’s a look at the shortlist of sites of the more than 50 proposals — up to five will be selected for funding. 

The Oceans Supercluster (Atlantic Region): Maximize the economic potential and sustainable development of Canada’s ocean economy. Address shared innovation needs by investing in digital ocean technologies for industries such as aquaculture, capture fishery, offshore oil and gas, and clean energy to improve productivity and global competitiveness.

The proposal is backed by Petroleum Research Newfoundland and Labrador — one of over 25 firms, including Emera Inc., Clearwater, Aspin Kemp & Associates, radient360 and Dalhousie University.

The “AI-powered Supply Chains” Supercluster (Quebec): Define a new global supply chain platform and bolster Canadian leadership in AI and data science. Empower Canada as a leading exporter — for example through demand forecasting, products customization and flow optimization — to profoundly impact the retail, manufacturing and infrastructure sectors.

The proposal is backed by Optel Group — one of over 80 firms, including Agropur, Aldo, Alimentation Couche-Tard, Bell Canada, CGI Group, Cascades and Polytechnique Montreal.

The “Mobility Systems and Technologies for the 21st Century” Supercluster (Quebec): Leverage digital technologies to advance Canadian industrial leadership in next generation mobility products and services. Focus on innovation and commercialization to serve market needs in aerospace, ground transportation and advanced manufacturing.

The proposal is backed by CAE Inc. — one of over 170 firms, including Pratt & Whitney Canada Corp., UrtheCast Corp., Marinvent Corp. and Polytechnique Montreal.

The “Clean, Low-Energy, Engaged, and Remediated” Supercluster (Ontario): Transform Canada’s mining sector and position Canada as a global leader in clean resources, clean technology and responsible sourcing of metals. Tackle global challenges of energy intensity, water use, and environmental footprint through collaborative innovation, initiate export pathways and create new skilled jobs.

The proposal is backed by the Canada Mining Innovation Council — one of over 90 firms, including Agnico Eagle Mines Ltd., Barrick Gold Corp., Teck Resources Ltd., Motion Metrics and University of British Columbia.

The “Building an Advanced Manufacturing” Supercluster (Ontario): Supercharge manufacturing competitiveness in Canada by building an Industry 4.0 ecosystem. Drive collaboration between technology and manufacturing sectors to create and diffuse new solutions by scaling production and speeding adoption.

The proposal is backed by Communitech Corp. and MaRS Discovery District — one of over 100 firms, including Linamar Corp., Maple Leaf Foods, Miovision Technologies Inc., Myant Inc. and the University of Waterloo.

The “Protein Innovations Canada” Supercluster (Prairies): Position Canada as the world’s paramount supplier of plant-based proteins and related products. Capture the massive export market opportunity for safe, nutritious plant-based food and feed by stimulating collaboration on novel technologies and value-added supply-chain infrastructure.

The proposal is backed by Ag-West Bio Inc. — one of over 60 firms, including AGT Food and Ingredients, Dow AgroSciences Canada Inc., ISM, DuPont Pioneer, Bioriginal Food & Science Corp. and the University of Saskatchewan.

The “Smart Agri-food” Supercluster (Prairies): Make Canada the preferred global supplier of sustainable, high-quality, safe food. Advance market competitiveness by building information technologies, including data analysis and quality verification platforms, to add informatics, connectivity and traceability in the crop, livestock and agri-food processing sectors.

The proposal is backed by Agrium — one of over 50 firms, including Telus Corp., Farmers Edge, BIXSco. and Olds College.

The “Smart, Sustainable and Resilient Infrastructure” Supercluster (Prairies): Transform Canada’s built environment to make it more resilient, sustainable, productive and cost-effective. Revolutionize the design, construction and operations of infrastructure and make Canada a world leader with the use of advanced digital communications, cutting edge tools, and interconnected applications and services.

The proposal is backed by Stantec Consulting Ltd. — one of over 25 firms, including PCL Construction Management Inc., Ledcor Group, Barry Johns Architecture Ltd., Athabasca University and Southern Alberta Institute of Technology.

The “Digital Technology” Supercluster (British Columbia): Make Canada faster, smarter and more collaborative in inventing, developing and applying digital technologies. Advance data collection, analysis and visualization to drive competitiveness across environment and resource tech, precision health and manufacturing.

The proposal is backed by Telus — one of over 70 firms, including Avcorp Industries Inc., D-Wave Systems Inc., Timberwest Forest Corp., Microsoft Canada Development Centre and six post-secondary institutions.

The Canadian Press

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Change would see Nova Scotia regulator eyeball gas shipping costs for consumers

HALIFAX — Nova Scotia is preparing for the end of natural gas from the Sable Offshore Energy Project.

Energy Minister Geoff MacLellan is proposing changes to the Gas Distribution Act that would allow Nova Scotia’s oil and gas regulator to assess and recover the costs of shipping natural gas into the province by pipeline.

MacLellan says the move is necessary to ensure a continued supply of natural gas as the dismantling of the Sable project begins next year off Nova Scotia. 

John Hawkins, president of Heritage Gas — the province’s sole natural gas distributor — says allowing the Utility and Review Board to determine the shipping costs to be charged on bills is in consumers’ best interests.

He says allowing the board to recover those costs would help stabilize prices, and the net effect could be lower costs to consumers.

The Sable project, a consortium of five companies majority-owned by ExxonMobil Canada, is made up of seven offshore platforms, 22 wells and 340 kilometres of subsea pipeline.

Work to shut down the facility is slated to start early next year and run for two years before all 22 wells are plugged and abandoned.

The Canadian Press

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Trican Well Service Ltd. Announces Third Quarter 2017 Conference Call

FOR: TRICAN WELL SERVICE LTD.
TSX SYMBOL: TCW

Date issue: October 10, 2017
Time in: 6:02 PM e

Attention:

CALGARY, ALBERTA–(Marketwired – Oct. 10, 2017) – Trican Well Service Ltd.
(“Trican”) (TSX:TCW) intends to release its Third Quarter 2017 results on
Wednesday, November 1, 2017 after the close of the market.

The Company will host a conference call on Thursday, November 2, 2017 at 10:00
a.m. MT (12:00 p.m. ET) to discuss the Company’s results for the 2017 Third
Quarter.

To listen to the webcast of the conference call, please enter:
https://edge.media-server.com/m6/p/agmn6tnz in your web browser or visit the
Investors section of our website at www.tricanwellservice.com/investors and
click on “Reports”.

To participate in the Q&A session, please call the conference call operator at
1-844-358-9180 (North America) or 478-219-0187 (outside North America) 15
minutes prior to the call’s start time and ask for the “Trican Well Service
Ltd. Third Quarter 2017 Earnings Results Conference Call”.

The conference call will be archived on Trican’s website at
www.tricanwellservice.com/investors.

Headquartered in Calgary, Alberta, Trican provides a comprehensive array of
specialized products, equipment and services that are used during the
exploration and development of oil and gas reserves.

Please visit our website at www.tricanwellservice.com.

– END RELEASE – 10/10/2017

For further information:
Trican Well Service Ltd.
Dale Dusterhoft
Chief Executive Officer
[email protected]
OR
Trican Well Service Ltd.
Michael Baldwin
Senior Vice President, Corporate Development
[email protected]
OR
Trican Well Service Ltd.
Robert Skilnick
Chief Financial Officer
[email protected]
OR
Trican Well Service Ltd.
(403) 266-0202
(403) 237-7716 (FAX)
2900, 645 – 7th Avenue S.W.
Calgary, Alberta T2P 4G8

COMPANY:
FOR: TRICAN WELL SERVICE LTD.
TSX SYMBOL: TCW

INDUSTRY: Energy and Utilities – Equipment, Energy and Utilities –
Oil and Gas
RELEASE ID: 20171010CC0056

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization
issuing the release, not to The Canadian Press.

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Keyera Announces Long-Term Duvernay Natural Gas Liquids Agreement With Chevron

October 10, 2017 CALGARY, Oct. 10, 2017 /CNW/ – Keyera Corp. (TSX:KEY) (“Keyera”) today announced that it has entered into a 20-year midstream agreement (the “Agreement”) with Chevron Canada Limited (“Chevron”) to fractionate and handle natural gas liquids from Chevron’s Kaybob Duvernay operations near Fox Creek, Alberta. The Agreement includes an area of dedication that is in excess of … Read more

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Painted Pony Announces Director Resignation

October 6, 2017 CALGARY, Oct. 6, 2017 /CNW/ – Painted Pony Energy Ltd. (“Painted Pony” or the “Corporation“) (TSX: PONY) announces the resignation of Peter A. Williams as a Director of the Corporation. Mr. Williams has been a key contributor to Painted Pony since he joined the Board of Directors in May 2014, specifically as … Read more

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​Trans Mountain could face year-long delay as Kinder Morgan pulls request for fish mats

October 10, 2017 CALGARY — The company behind the proposed Trans Mountain pipeline expansion has dropped a request that the National Energy Board allow it to conduct some construction activity on the multi-billion dollar project. Last week, lawyers representing Kinder Morgan Canada subsidiary Trans Mountain asked the board for permission to install mats to deter … Read more

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Trade troubles face PM on North American trip

NAFTA tensions, Bombardier spat pose challenges for Trudeau on four-day visit to U.S. and Mexico October 10, 2016 The prime minister plans to talk trade, security and gender equality during his four-day trip to the United States and Mexico, which begins today. But there is little doubt one of those subjects will get more attention than the others. … Read more

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Oil Trades Near $50 Before U.S. Data as Saudis Curb Exports

Oil-Prices

October 10, 2017 by Ben Sharples and Grant Smith (Bloomberg)  Oil traded near $50 a barrel in New York before data forecast to show a third weekly drop in U.S. crude inventories, while Saudi Arabia said it will sell customers considerably less crude than they’re asking for. Futures rose 0.8 percent after advancing 0.6 percent … Read more

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Five Things World Business Will be Talking About Today

October 10, 2017 by Lorcan Roche Kelly (Bloomberg)  Catalonia’s moment of truth, U.S. spat with Turkey exposes old wounds, and U.K. data show the glass is half full. Here are some of the things people in markets are talking about today. Secession session The Catalan parliament meets today to consider a declaration of independence that would elicit a … Read more

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Midwest Energy Emissions Corp. Secures First International Customer in Canada

FOR: MIDWEST ENERGY EMISSIONS CORP.
OTCQB Symbol: MEEC

Date issue: October 10, 2017
Time in: 8:30 AM e

Attention:

Purchase Order Covers Proprietary SEA(TM) Technology Installation on Four
Boilers

LEWIS CENTER, OH –(Marketwired – October 10, 2017) – Midwest Energy
Emissions Corp. (OTCQB: MEEC) (“ME2C” or the “Company”), a leader in mercury
emissions control in North America, has secured a new purchase order with a
Canadian customer for the installation of the Company’s proprietary Sorbent
Enhancement Additive (SEAâäó) Technology. This purchase order represents the
Company’s first customer located outside the United States and initially
covers the front end of four new electric generating units (EGUs).

“Our expansion into the Canadian market with this new customer marks a
significant milestone for the company and showcases the value of our total
solution approach to mercury capture, both in the U.S. and abroad,” said
Richard MacPherson, President and CEO of ME2C. “As a result of several
successful demonstrations and a strong patent portfolio throughout North
America, we’re pleased with this geographic expansion which should help smooth
out seasonal fluctuations. This purchase order being announced today for the
supply of front end product represents the first step with this utility in
Canada, and we anticipate expansion to additional EGU’s in their fleet. The
initial purchase order is valued at approximately $700,000.

MacPherson, continued: “For the remainder of the year, we remain focused on
executing upon our key initiatives, which consist of leveraging our total
solution approach to mercury capture to earn new customers throughout North
America, further penetrating existing customer fleets, and growing our
geographic footprint in the U.S., Canada, and other key international
markets.”

About Midwest Energy Emissions Corp. (ME2C)

Midwest Energy Emissions Corp. (OTCQB: MEEC) delivers patented and proprietary
solutions to the global coal-power industry to remove mercury from power plant
emissions, providing performance guarantees, and leading-edge emissions
services. The U.S. Environmental Protection Agency (EPA) MATS rule requires
that all coal- and oil-fired power plants in the U.S., larger than 25
mega-watts remove roughly 90% of mercury from their emissions starting April
15, 2015. ME2C has developed patented technology and proprietary products that
have been shown to achieve mercury removal levels compliant with MATS at a
significantly lower cost and with less operational impact than currently used
methods, while preserving the marketability of fly-ash for beneficial use. For
more information, please visit www.midwestemissions.com.

Safe Harbor Statement

With the exception of historical information contained in this press release,
content herein may contain “forward-looking statements” that are made pursuant
to the Safe Harbor Provisions of the Private Securities Litigation Reform Act
of 1995. Forward-looking statements are generally identified by using words
such as “anticipate,” “believe,” “plan,” “expect,” “intend,” “will,” and
similar expressions, but these words are not the exclusive means of
identifying forward-looking statements. These statements are based on
management’s current expectations and are subject to uncertainty and changes
in circumstances. Investors are cautioned that forward-looking statements
involve risks and uncertainties that could cause actual results to differ
materially from the statements made. Matters that may cause actual results to
differ materially from those in the forward-looking statements include, among
other factors, the gain or loss of a major customer, change in environmental
regulations, disruption in supply of materials, capacity factor fluctuations
of power plant operations and power demands, a significant change in general
economic conditions in any of the regions where our customer utilities might
experience significant changes in electric demand, a significant disruption in
the supply of coal to our customer units, the loss of key management
personnel, availability of capital and any major litigation regarding the
Company. In addition, this release contains time-sensitive information that
reflects management’s best analysis only as of the date of this release. The
Company does not undertake any obligation to publicly update or revise any
forward-looking statements to reflect future events, information or
circumstances that arise after the date of this release. Further information
concerning issues that could materially affect financial performance related
to forward-looking statements contained in this release can be found in the
Company’s periodic filings with the Securities and Exchange Commission.

– END RELEASE – 10/10/2017

For further information:

Company Contact:
Richard MacPherson
Chief Executive Officer
Midwest Energy Emissions Corp.
Main: 614-505-6115
[email protected]

Investor Relations Contact:
Greg Falesnik
Managing Director
MZ Group – MZ North America
Main: 949-385-6449
[email protected]
www.mzgroup.us

COMPANY:
FOR: MIDWEST ENERGY EMISSIONS CORP.
OTCQB Symbol: MEEC

INDUSTRY: Energy and Utilities – Coal, Energy and Utilities – Utilities,
Environment – Air Pollution Control, Environment – Regulations and Law

RELEASE ID: 20171010CC002

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization
issuing the release, not to The Canadian Press.

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OPEC Sees `Extraordinary’ Steps Needed for Market Stability

October 9, 2017 by Bruce Stanley and Debjit Chakraborty (Bloomberg)  Oil producers are succeeding in re-balancing an oversupplied market, though they may need to take further steps to sustain the recovery into 2018, OPEC Secretary-General Mohammad Barkindo said. Saudi Arabia and Russia are currently leading consultations between the Organization of Petroleum Exporting Countries and other … Read more

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Sandler “Sales” Training: It Will not Let You Fail – READ WHY HERE

Developing a Sustainable Economic Engine for Your Business When you think of traditional sales training, you most likely have visions of intense weekend seminars, providing attendees with tricks and strategies to make more sales. Let’s be honest – this is simply not a sustainable way to grow consistent business revenue or human behaviour. Sandler Training … Read more

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Saudis to Make Deepest Cut to Crude Supply Despite Strong Demand

October 9, 2017 (Bloomberg) Saudi Aramco plans to make “the deepest customer allocation cuts in its history” in oil supplies in November to help reduce global inventories and balance the market. State-run Saudi Arabian Oil Co., known as Aramco, will make an “unprecedented” cut of 560,000 barrels a day in its allocations to customers next month, … Read more

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Trudeau refuses to accept any blame for Energy East cancellation: Accuses opponents of stoking regional divisions

OTTAWA — The prime minister accused opponents on Saturday of “stoking national divisions” through their reactions to TransCanada’s decision to cancel its Energy East Pipeline plans.

Justin Trudeau said in a Facebook post that critics who attribute the proposed project’s cancellation to government regulation “ignores the obvious.”

“Aside from its being intellectually dishonest, the reflexive stoking of regional tensions is a political dead end. The Conservative party, formerly the Reform Party, trod that road in its infancy. It was a road better left abandoned,” Trudeau stated in the post.

Trudeau also pointed out that when Energy East was first proposed, the global supply of crude was relatively tight.

He ended the post with a warning that festering regional tensions bound the country in “paralyzing unity debates” from the 1970s through the 1990s. 

“Let’s not go backwards, simply because speaking from anger is an easy response to disappointing news,” Trudeau said.

Conservative M-P Michelle Rempel, who represents a Calgary riding, responded that if there are regional divisions that arise from government policy, Trudeau must take the blame.

“I’ve watched them go the wall for Bombardier, yet my province has been suffering for two years now and there’s been very little focus in doing anything for it,” Rempel said in an interview Saturday.

The pipeline would have carried western crude from the Alberta oilsands to the Irving Oil refinery in Saint John, NB, as well as an export terminal, but TransCanada cancelled it Thursday, citing changed circumstances.

TransCanada said in a letter to the National Energy Board that it was abandoning the project because of the board’s decision to allow hearings to consider greenhouse gas emissions from producing and processing the oil it transports in the pipeline.

The premiers of Alberta and New Brunswick have expressed disappointment, while Quebec politicians, along with Indigenous and environmental groups, welcome the project’s demise.

Conservative Leader Andrew Scheer responded with his own Facebook post late Saturday, where he called Energy East a “nation-building project” and disputed Trudeau’s claim the pipeline was cancelled for business reasons.

“TransCanada, the proponent for the Energy East Pipeline, has said explicitly that it was the regulatory changes introduced by Trudeau that caused the firm to cancel the project,” Scheer said in his Facebook post.

“(Trudeau) should take responsibility, and explain why he wanted this project cancelled, instead of shifting the blame.”

Trudeau noted Saturday that his government has approved two major oil export pipelines that are under now under construction, and that a third is expected to move forward soon. He said Canadians “deserve better than a discussion in which leaders leap to capitalize on perceived regional slights, regardless of context or facts.”

“We don’t get far — we never have gotten far — by pitting one region against another, or one group against another. We succeed when we work together, as Canadians. And that absolutely requires a give and take,” Trudeau said in the post.

Rempel said that when she in the previous Conservative government, former prime minister Stephen Harper urged ministers to make sure their policy decisions were always in the best interest of the entire country.

“A strong Alberta has always been a strong Canada, just as a strong Quebec has always been a strong Canada,” Rempel said.

Some industry analysts have questioned the need for the Energy East project after other pipelines were green-lighted, such as TransCanada’s Keystone XL project, which received U.S. approval to transport oil from Alberta to the U.S. Gulf Coast.

But the Canadian Association of Petroleum Producers said all the pipelines are needed, predicting in June that national oil production will climb by 33 per cent by 2030.

The Canadian Press

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Canada Weekly Rig Count Down 4 to 209 for Week Ending October 6, 2017

oil-sill-feature-image

Western Canada’s fleet of drilling rigs dropped 4 to 209 actively drilling rigs according to data collected by Baker Hughes for the week of October 6. From one week ago, Alberta rig counts decreased to 139 from 144, the Saskatchewan rig count increased by 1 to 40. Oil drilling dropped by 1 to 112; gas … Read more

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Brady Wins Occupational Health & Safety  2017 New Product of the Year Award

NEWS RELEASE: For Immediate Release PaintStripe™ Floor Marking Stencils Win Occupational Health & Safety  2017 New Product of the Year Award New floor marking stencils allow for easy layout and completion of floor marking projects MILWAUKEE, Wis. (October 3, 2017) — Brady (NYSE:BRC), a global leader in industrial and safety printing systems and solutions, announced today that the PaintStripe Floor … Read more

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NEW Down Hole Tool Insurance Program – See Details HERE

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Oil Posts Biggest Weekly Drop Since May as Storm Concerns Ease

Oil-Prices

October 6, 2017 (Bloomberg)  Oil took a downward turn as concerns eased about Tropical Storm Nate’s threat to offshore crude platforms and coastal refineries while prices broke through a key technical barrier. Futures slipped 3 percent in New York, bringing this week’s decline to the steepest since May. While BP Plc, Chevron Corp. and other … Read more

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Kinder Morgan pulls request for fish mats on Trans Mountain pipeline expansion

CALGARY — The company behind the proposed Trans Mountain pipeline expansion has dropped a request that the National Energy Board allow it to conduct some construction activity on the multi-billion dollar project.

Last week, lawyers representing Kinder Morgan Canada subsidiary Trans Mountain asked the board for permission to install mats to deter fish spawning after the board told it last month to stop doing so.

The lawyers said if the request was not granted, construction on the $7.4-billion project could be delayed by a year.

Lawyer Terri-Lee Oleniuk at Osler, Hoskin & Harcourt has now written to the NEB saying the window for “safely and effectively” installing the mats has passed and the company is withdrawing the request.

The board told the company to stop installing the deterrent mats because they’re considered construction activity, and the company does not yet have all conditions approved for pipeline construction.

Oleniuk says in a letter issued Friday that Trans Mountain intends to remove the existing mats and notes that doing so while the fish are spawning could constitute serious harm under the Fisheries Act.

First Nations, environmentalists and the B.C. government have expressed opposition to the project, which would nearly triple the capacity of the pipeline running from Edmonton to Burnaby, B.C., saying the expansion could have serious implications for the environment.

The Canadian Press

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CAODC Disappointed by Cancellation of Energy East Pipeline, Loss of Canadian Jobs

NEWS RELEASE For Immediate Release: October 5, 2017 The Canadian Association of Oilwell Drilling Contractors (CAODC) is “extremely disappointed, but not surprised” at TransCanada’s cancellation of the Energy East Pipeline and Eastern Mainline projects. In a statement released earlier this morning, TransCanada announced the cancellation of the Energy East Pipeline and Eastern Mainline projects. This August, … Read more

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Pipelines, asylum seekers, tuberculosis: how politics touched us this week

OTTAWA — Parliament Hill was a swirl of fresh faces and a storm of news this week in the rush to get things done and square events away before the Thanksgiving break.

In a sea of pageantry, the next Governor General, astronaut Julie Payette, was sworn in to her new position, replacing David Johnston. Premiers and Indigenous leaders from across the country then gathered nearby for a meeting with the prime minister — a meeting that led to a more solid picture of what legalization of cannabis will eventually look like.

The next day, the NDP’s new leader, Jagmeet Singh, took a victory lap through his party’s caucus room, inspiring a jubilance not seen since the days of Jack Layton.

Personalities aside, there were impactful developments on pipelines, asylum seekers and tuberculosis. Here’s how politics affected Canadians’ everyday lives this week:

PIPELINE APOPLEXY

TransCanada has followed through on its hints this summer and cancelled its $16-billion plans for the Energy East pipeline — an announcement that prompted a vicious round of finger-pointing, blame-casting and, in some corners, celebration.

Whether the cancellation was because of market forces (as the Liberals contend) or unreasonable public policy (as the Conservatives argue), environmental activists and the mayor of Montreal claimed victory.

The animosity exposed unresolved quandaries for Canadian public policy. Will companies in the West find other, better, ways to export oil and gas, and will the public buy in? Will climate policy lead to depressed demand and low prices — and eventually mean Canada turns forcefully away from the natural resources that have buoyed its economy for an eternity? If not oil and gas, then what? 

And as political leaders in Western Canada lash out at their eastern counterparts, is there any hope of forging a national consensus on how or whether the oil industry can or should coexist and prosper alongside a warming earth?

THE FATE OF ASYLUM SEEKERS

Canadians are beginning to learn about what is happening to the thousands of asylum seekers who walked across the Canada-U.S. border illegally over the past few months.

Their refugee claims are now working their way through a clogged system. Progress is slow. And about half of the claims are being rejected.

Government officials said this week they have finalized about 240 cases of about 8,000, and the rejection rate is about 50 per cent. That’s normal for Haitian claims, and most of the claimants over the summer were Haitians crossing into Quebec.

At the same time, the federal government is scrambling to live up to a commitment to bring 1,200 Yazidi women and girls into Canada as refugees from northern Iraq, where they had been too often forced into sex slavery.

Ottawa promised a year ago to bring them in, and this week Immigration Minister Ahmed Hussen said 800 had arrived. The Conservatives are questioning his numbers, however, second-guessing whether the 800 are actually Yazidis.

The minister insists that the delay in the Yazidi effort has nothing to do with the resources required to process the asylum seekers at the border. But it’s clear that setting up a new home in Canada is not a walk in the park.

TACKLING TUBERCULOSIS

It’s almost unheard of as a problem in most of Canada, but tuberculosis is a scourge in the Inuit population. This week, the federal government rolled out a plan to eliminate what can be a deadly infectious lung disease.

Inuit in Nunavut are 270 times more likely to have TB than the rest of the population, a long-standing problem propelled by poverty and overcrowded, substandard housing.

The eradication plan involves setting up a task force with Inuit organizations, combining their prevention and treatment approaches, and incorporating housing into their plans.

In the last federal budget, about $1 million was earmarked for TB prevention in the Inuit population — meant to amplify ongoing efforts to improve diagnosis, prevention and new medical treatments.

But the TB problem is so entrenched that the government is still grappling with its long legacy. For decades, Inuit infected with the disease were flown south to receive treatment. They often never returned, dying or lost without their family supports. Officials are now trying to track down their graves.

Heather Scoffield, Ottawa Bureau Chief, The Canadian Press

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U.S. oil drillers cut rigs for 4th week in five -Baker Hughes

October 6, 2017  Reuters The U.S. oil rig count fell for a fourth time in the last five weeks as a 14-month drilling recovery stalled as energy firms reduced spending plans in response to recent crude price declines.The oil rig count fell by two to 748 in the week to Oct. 6, General Electric Co’s Baker … Read more

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Tight oil export pipeline capacity expected to persist as Energy East cancelled

CALGARY — It’s more vital than ever that three other pipelines to oil export markets proceed as planned in the wake of TransCanada Corp. (TSX:TRP) shelving its Energy East pipeline on Thursday, says AltaCorp Capital analyst Dirk Lever.

Lever says Canadian producers will have to transport any incremental new oil production over the next year or so using railcars, and the pipeline transportation system out of Western Canada will remain tight for years.

“We already know the next incremental barrel of production has got to go by rail because the pipelines are effectively full,” he said Friday.

In a report in July, RBC Capital Markets predicted oilsands production would grow by 900,000 barrels per day in the next five years thanks to startup of Suncor Energy Inc.’s (TSX:SU) 194,000-bpd Fort Hills mine and several smaller projects, including an 80,000-bpd expansion at Canadian Natural Resources Ltd.’s (TSX:CNQ) Horizon mine and upgrader.

It pointed out that about three-quarters of the new bitumen production is not going to be upgraded, which means it will have to be diluted to create a product composed of 30 to 40 per cent lighter petroleum in order to flow in a pipeline. That will increase the demand for pipeline volumes beyond what is required for the heavy oil alone, it said.

Opponents of pipeline projects who look at the oil forecasts and conclude they aren’t needed sometimes overlook the diluent component of shipping bitumen, said Tim McMillan, CEO of the Canadian Association of Petroleum Producers.

“We will exceed our current and projected pipeline capacity by 2030 with (Energy East) gone … not just on a strategic level but by volume,” he said.

Lever said Energy East could come off the shelf and be proposed again for regulatory approval if any of the other pipelines don’t go ahead or if market conditions change to encourage higher production growth.

“Energy East was more than what was needed,” he said of the proposal to ship 1.1 million bpd from Alberta to New Brunswick.

“Producers weren’t going to pay for that much excess capacity so I’m not surprised it fell to the wayside. If one of those (other pipelines) falls away, then Energy East would be needed.”

He said the next capacity increase is expected to come with Enbridge Inc.’s (TSX:ENB) Line 3 pipeline replacement project, which is under construction in Canada and awaiting its last U.S. regulatory approvals in Minnesota. It is expected to add 370,000 bpd of capacity by early 2019.

But that additional room will only just accommodate new output from oilsands expansions and the situation will remain tight until the Trans Mountain expansion pipeline to the West Coast proposed by Kinder Morgan is in service, expected to add 590,000 bpd by late 2019, Lever said. That project is being actively opposed in court by the B.C. government and other intervenors.

TransCanada hasn’t yet approved its Keystone XL pipeline into the U.S. but Lever said its 830,000-bpd capacity would likely provide enough room for Canadian oil production growth until about 2030, when the industry expects Canadian production to reach five million barrels per day.

Lever pointed out that having excess pipeline capacity is important because it gives producers options to supply different markets and offers the pipeline operators flexibility to schedule maintenance downtime.

 

Follow @HealingSlowly on Twitter.

Dan Healing, The Canadian Press

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Kelt Provides Gas Marketing Update and Announces Flow-Through Equity Financing

FOR: KELT EXPLORATION LTD.
TSX Symbol: KEL

Date issue: October 06, 2017
Time in: 4:30 PM e

Attention:

CALGARY, AB –(Marketwired – October 06, 2017) – Kelt Exploration Ltd.
(“Kelt” or the “Company”) (TSX: KEL) has subscribed to TransCanada
Corporation’s Dawn Long Term Fixed Price (LTFP) service and in addition, has
entered into various natural gas sales contracts in order to provide the
Company with exposure to diversified gas price hubs and reduce exposure to a
single market.

Effective November 1, 2017, Kelt’s gas market sales portfolio will consist of
the following contracts:

/T/

—————————————————————————-

Percent
Market Term (Sales) Volume @ Market Price
(MMBtu/d) Nov/1/17
—————————————————————————-
Nov/1/17 âÇô Oct/31/27 23,695 31% DAWN USD Daily Index
—————————————————————————-
Nov/1/17 âÇô Oct/31/20 15,000 20% MALIN USD NGI FOM Index less
US$0.70/MMBtu
—————————————————————————-
Nov/1/17 âÇô Oct/31/20 11,990 16% SUMAS USD Monthly Index less
US$0.679/MMBtu
—————————————————————————-
Nov/1/17 âÇô Oct/31/18 3,000 4% SUMAS USD Monthly Index less
US$0.76/MMBtu
—————————————————————————-
Nov/1/17 âÇô Oct/31/18 * 10,330 14% CHICAGO City Gate USD Gas Daily
Index
—————————————————————————-
Nov/1/17 âÇô Oct/31/18 11,305 15% AECO CAD Daily (5A) Index
—————————————————————————-
TOTAL (effective 75,320 100%
Nov/1/17)
—————————————————————————-
* The Company also has access to priority interruptible transportation
service (“PITS”) equating to 25% (2,580 MMBtu/d) of its firm service volume
on the Alliance pipeline system under which Kelt can increase the amount of
gas sales from its British Columbia properties into the Chicago market.

/T/

During 2017, Kelt expects that its oil and NGLs production will contribute
approximately 76% of its aggregate operating income and gas production will
contribute the remaining 24%.

Due to the recent volatility in AECO gas prices, Kelt has elected to
temporarily shut-in approximately 21.4 MMcf/d of dry gas production (3,770
BOE/d including associated NGLs) at its Grande Cache and West Pouce Coupe
properties in Alberta. AECO CAD Daily (5A) Index prices have averaged
$1.55/GJ, $1.65/GJ and $0.93/GJ during the months of July, August and
September 2017, respectively. The Company has elected to shut-in production at
its dry gas properties due to the weakness in the current AECO price primarily
caused by transportation bottlenecks on the entire Western Canadian pipeline
transportation system. Kelt expects to keep this production shut-in until AECO
prices improve or until November 1, 2017, at which time the Company can direct
its gas to non-AECO priced contracts in its gas market sales portfolio. The
impact to 2017 guidance based on previously forecasted commodity prices during
a 30-day shut-in period with respect to these production volumes would reduce
Kelt’s 2017 average production guidance of 22,500 BOE per day by 310 BOE per
day (1.4%) and previously forecasted 2017 funds from operations of $124.0
million would be reduced by approximately $750,000 (0.6%).

In addition, the Company currently has approximately 4.8 MMcf/d of gas
production (1,000 BOE/d including associated NGLs) behind pipe in British
Columbia awaiting new compression. In light of the current low gas price
environment, the Company has delayed adding compression in order to bring the
behind pipe production on-stream and expects to time the production additions
with its new gas price contracts starting in November 2017.

FLOW-THROUGH EQUITY FINANCING

Kelt has determined to issue, by way of a non-brokered private placement, 1.4
million common shares on a “flow-through” basis in respect of Canadian
Development Expenses (“CDE”) at a price of $7.75 per share resulting in gross
proceeds of $11.0 million (the “Private Placement”). Along with certain other
subscribers, directors, officers and employees of the Company have subscribed
to purchase approximately 8.3% of the Private Placement.

Kelt shall, pursuant to the provisions in the Income Tax Act (Canada), incur
eligible CDE (the “Qualifying Expenditures”), after the closing date and prior
to December 31, 2017 in the aggregate amount of not less than the total amount
of the gross proceeds raised from the Private Placement. Kelt shall renounce
the Qualifying Expenditures so incurred to the purchasers of the flow-through
common shares with an effective date on or prior to December 31, 2017. The
Private Placement is subject to certain conditions including normal regulatory
approvals and specifically, the approval of the Toronto Stock Exchange. The
common shares issued in connection with the Private Placement will be subject
to a statutory hold period of four months plus one day from the date of
completion of the Private Placement, in accordance with applicable securities
legislation.

Closing for approximately 89% of the Private Placement is expected to occur on
or about October 11, 2017. The remaining 11% of the Private Placement is
expected to close on or around October 27, 2017.

This press release does not constitute an offer to sell or a solicitation of
any offer to buy the common shares in the United States. The common shares
have not been and will not be registered under the U.S. Securities Act of 1933
and may not be offered or sold in the United States absent registration or an
applicable exemption from the registration requirements of such Act.

OPERATIONS UPDATE

Proceeds from the Private Placement will be used to increase the Company’s
budgeted drilling and completion expenditures during the remainder of 2017.
Kelt expects to increase its 2017 capital expenditure budget with the drilling
of five wells on its second pad at Pouce Coupe, Alberta, targeting Montney
Oil, where wells from the first multi-well pad at Pouce Coupe paid out in
under a year during 2017 (in the current commodity price environment). These
five new wells are expected to be completed in January 2018 and will be put on
production thereafter into the Company’s expanded compression and pipeline
infrastructure recently installed at Pouce Coupe.

At Inga, British Columbia, Kelt believes it has fully delineated the Upper
Montney on its lands and expects to drill and complete five development wells
off a pad. This operation is expected to commence in 2017 and is expected to
be completed in the first quarter of 2018. The Company expects to drill its
fifth Middle Montney well at Inga in the fourth quarter of 2017 as it
continues to delineate the Middle Montney with encouraging results from the
first four wells. Kelt has drilled its first Upper Middle (IBZ) well at Inga
and expects to complete and test this well by the middle of November 2017.

At Wembley/Pipestone, Alberta, Kelt is targeting the Montney formation in the
volatile oil window where the reservoir is expected to be over-pressured. The
Company has completed its first exploration well located at 00/04-01-072-08W6.
The well was completed using the ball drop hydraulic fracturing method. The
horizontal lateral of the well was approximately 2,900 metres and the well was
completed using slick-water comprising 50 fracture stages. The well cost
approximately $5.7 million to drill and complete. After flowing the well back
on a 12 day clean-up, the well, over the last five days of the test, produced
average sales volumes of approximately 1,567 BOE per day (64% oil, 20% NGLs
and 16% gas). The high NGLs (35% are condensate/pentane) are a result of the
high heat value of the gas and the ensuing deep-cut recoveries at the Wembley
Gas Plant where Kelt has an ownership interest. The well has now been tied in
to the Wembley Gas Plant, however, due to a compressor failure at the plant,
the well is not expected to be put on production until mid-November 2017.
Given the encouraging results from its first exploration well, the Company
expects to follow-up with at least three more wells on its large
Wembley/Pipestone land block prior to the end of 2018.

Kelt expects to release its 2017 third quarter results on or about November 9,
2017. At that time, the Company expects to provide shareholders with 2018
guidance including forecasted capital expenditures, production and funds from
operations.

ADVISORY REGARDING FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements and forward-looking
information within the meaning of applicable securities laws. The use of any
of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”,
“ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends”
and similar expressions are intended to identify forward-looking information
or statements. In particular, this press release contains forward-looking
statements pertaining to the following: the composition of Kelt’s gas
marketing contract sales portfolio effective November 1, 2017; the expected
duration of the temporary shut-in by Kelt of certain dry gas properties; the
Company’s plans to incur and renounce Qualifying Expenditures and the expected
closing and closing dates of the Private Placement; the various expected
drilling and completion operations to be carried out in 2017 and 2018; and the
timing of the release of Kelt’s third quarter results and 2018 guidance.
Statements relating to “reserves” or “resources” are deemed to be forward
looking statements, as they involve the implied assessment, based on certain
estimates and assumptions, that the reserves described exist in the quantities
predicted or estimated and that the reserves can be profitably produced in the
future. Actual reserves may be greater than or less than the estimates
provided herein. Test results and initial production rates disclosed herein
may not necessarily be indicative of long-term performance or of ultimate
hydrocarbon recovery.

Although Kelt believes that the expectations and assumptions on which the
forward-looking statements are based are reasonable, undue reliance should not
be placed on the forward-looking statements because Kelt cannot give any
assurance that they will prove to be correct. Since forward-looking statements
address future events and conditions, by their very nature they involve
inherent risks and uncertainties. Actual results could differ materially from
those currently anticipated due to a number of factors and risks. These
include, but are not limited to, the risks associated with the oil and gas
industry in general (e.g., operational risks in development, exploration and
production; delays or changes in plans with respect to exploration or
development projects or capital expenditures; the uncertainty of reserve
estimates; the uncertainty of estimates and projections relating to
production, costs and expenses; failure to obtain necessary regulatory
approvals for planned operations; health, safety and environmental risks;
uncertainties resulting from potential delays or changes in plans with respect
to exploration or development projects or capital expenditures; volatility of
commodity prices, currency exchange rate fluctuations; imprecision of reserve
estimates; and competition from other explorers) as well as general economic
conditions, stock market volatility; and the ability to access sufficient
capital. We caution that the foregoing list of risks and uncertainties is not
exhaustive.

In addition, the reader is cautioned that historical results are not
necessarily indicative of future performance. The forward-looking statements
contained herein are made as of the date hereof and the Company does not
intend, and does not assume any obligation, to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise unless expressly required by applicable securities laws.

NON-GAAP MEASURES

This press release contains certain financial measures, as described below,
which do not have standardized meanings prescribed by GAAP. As these measures
are commonly used in the oil and gas industry, the Company believes that their
inclusion is useful to investors. The reader is cautioned that these amounts
may not be directly comparable to measures for other companies where similar
terminology is used.

“Operating income” is calculated by deducting royalties, production expenses
and transportation expenses from oil and gas revenue, after realized gains or
losses on associated financial instruments. The Company refers to operating
income expressed per unit of production as an “Operating netback”. “Funds from
operations” is calculated by adding back transaction costs associated with
acquisitions and dispositions, provisions for potential credit losses,
settlement of decommissioning obligations and the change in non-cash operating
working capital to cash provided by operating activities. Funds from
operations and operating income or netbacks are used by Kelt as key measures
of performance and are not intended to represent operating profits nor should
they be viewed as an alternative to cash provided by operating activities,
profit or other measures of financial performance calculated in accordance
with GAAP.

MEASUREMENTS

All dollar amounts are referenced in thousands of Canadian dollars, except
when noted otherwise. This press release contains various references to the
abbreviation BOE which means barrels of oil equivalent. Where amounts are
expressed on a BOE basis, natural gas volumes have been converted to oil
equivalence at six thousand cubic feet per barrel and sulphur volumes have
been converted to oil equivalence at 0.6 long tons per barrel. The term BOE
may be misleading, particularly if used in isolation. A BOE conversion ratio
of six thousand cubic feet per barrel is based on an energy equivalency
conversion method primarily applicable at the burner tip and does not
represent a value equivalency at the wellhead and is significantly different
than the value ratio based on the current price of crude oil and natural gas.
This conversion factor is an industry accepted norm and is not based on either
energy content or current prices. References to oil in this press release
include crude oil and field condensate. References to natural gas liquids
(“NGLs”) include pentane, butane, propane, and ethane. References to gas in
this press release include natural gas and sulphur. Such abbreviation may be
misleading, particularly if used in isolation.

ABBREVIATIONS

/T/

MMcf million cubic feet
MMcf/d million cubic feet per day
MMBtu million British Thermal Units
GJ Gigajoule
BOE barrel of oil equivalent
BOE/d barrel of oil equivalent per day
NGLs natural gas liquids
AECO Alberta Energy Company “C” Meter Station of the Nova Pipeline
System
NGI Natural Gas Intelligence
FOM first of month
USD United States dollars
CAD Canadian dollars
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– END RELEASE – 06/10/2017

For further information:

For further information, please contact:

KELT EXPLORATION LTD.
Suite 300, 311 âÇô 6th Avenue SW
Calgary, Alberta, Canada T2P 3H2

DAVID J. WILSON
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(403) 201-5340

SADIQ H. LALANI
Vice President and Chief Financial Officer
(403) 215-5310

Visit our website at: www.keltexploration.com

COMPANY:
FOR: KELT EXPLORATION LTD.
TSX Symbol: KEL

INDUSTRY: Energy and Utilities – Oil and Gas
RELEASE ID: 20171006CC008

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Hibernia operator fined $80k after pleading guilty in crude oil spill

ST. JOHN’S, N.L. — The company that runs the Hibernia platform off Newfoundland has pleaded guilty after it continued to operate despite a leak in 2013 that spilled about 6,000 litres of crude oil into the North Atlantic.

The Hibernia Management and Development Company was fined $80,000 and ordered to pay $170,000 into the federal Environmental Damages Fund.

The company “deeply regrets this spill occurred,” spokeswoman Margot Bruce-O’Connell said Friday in an emailed statement. “The Hibernia offshore and onshore workforce is committed to operating in an environmentally responsible manner.

“The cause of the incident was due to equipment failure, although the offshore loading system equipment was newly installed in 2012.”

Hibernia is located 315 kilometres east of St. John’s and sits in 82 metres of water.

Newfoundland and Labrador’s offshore petroleum regulator announced in 2015 it had laid charges in connection with the spill.

An agreed statement of facts says about 6,000 litres of crude oil leaked from Hibernia’s offshore loading system starting on Dec. 27, 2013.

It describes “a persistent sheen” that the company observed on the surface of the sea close to a valve it didn’t realize was seeping. Instead of shutting down operations, it finished loading a tanker on Dec. 28.

The leak was ultimately blamed on “undetected valve failures” — including a “false closure signal” emitted by one particular valve. A supply vessel fully sealed it about five days later on Jan. 1, 2014.

Bruce-O’Connell said the company improved its operating, inspection and maintenance procedures after the spill.

It was convicted under the Canada-Newfoundland Atlantic Accord Implementation Act.

“Operations ceased, but resumed without ensuring that it could be done without causing pollution,” the Canada-Newfoundland and Labrador Offshore Petroleum Board said Friday in a statement.

The shareholders of the Hibernia Management and Development Company are ExxonMobil Canada (33 per cent), Chevron Canada Resources (27 per cent), Suncor (20 per cent), Canada Hibernia Holding Corporation (8.5 per cent), Murphy Oil (6.5 per cent) and Statoil Canada Ltd. (five per cent).

The Canadian Press

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U.S. Energy Companies Issuing Debt Like It’s 2014 Even With $50 Oil

October 6, 2017 (Bloomberg)  The way energy companies are issuing debt, it feels like spring is in the air — the spring of 2014. Back then, the industry was riding high on $100-a-barrel oil, and companies were selling mountains of debt to fund ambitious growth strategies. It was a time when “almost anybody could bring an energy … Read more

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TransCanada’s Decision to Scrap Pipeline Draws Cheers from Montreal Mayor

Oct 6, 2017 Frederic Tomesco and Sandrine Rastello (Bloomberg)  Politicians and environmental campaigners in Quebec are shedding few tears over TransCanada Corp.’s decision to pull the plug on its Energy East pipeline project. “Very proud” of the outcome, Montreal Mayor Denis Coderre, who is running for re-election next month, said Thursday in a tweet. Patrick … Read more

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Energy East Death Pins Oil Sands Hopes on Two Other Troubled Pipelines

October 6, 2017 by Kevin Orland and Robert Tuttle (Bloomberg)  TransCanada Corp.’s cancellation of the Energy East pipeline leaves Canadian oil producers more dependent than ever on the Keystone XL and Trans Mountain proposals, two projects facing ardent opposition in their own right. Energy East would have given oil producers in Alberta and Saskatchewan, who are … Read more

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Oil Set for First Weekly Loss in a Month

Oil-Prices

October 6, 2017 (Bloomberg)  Oil is set for the first weekly decline since early September on rising global output as Tropical Storm Nate moves toward the U.S. Gulf. Futures fell 1 percent in New York, bring the weekly drop to 2.7 percent. OPEC output climbed marginally in September, U.S. production reached a two-year high last week … Read more

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Five Things World Business Will be Talking About Today

October 6, 2017 by Lorcan Roche Kelly (Bloomberg) It’s jobs day, a storm disrupts Gulf of Mexico oil production, and the British PM is under pressure. Here are some of the things people in markets are talking about today. Payrolls Analysts expect employers in the U.S. to have added 80,000 positions in September when the data are released … Read more

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Encana starts up second Montney plant ahead of schedule and under budget; condensate growth to expand margins and drive quality returns

October 5, 2017  Globe Newswire CALGARY, Alberta, Oct. 05, 2017 (GLOBE NEWSWIRE) — (TSX:ECA) (NYSE:ECA) Encana successfully started up the Sunrise processing plant on September 27, under budget and more than one month ahead of original schedule. Sunrise is the second of three processing plants that support Encana’s condensate-focused growth plan in the Montney. In parallel … Read more

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Struggling Saint John mourns lost pipeline: ‘A huge economic blow’

SAINT JOHN, N.B. — At what would have been the eastern end of the Energy East Pipeline, rookie Mayor Don Darling is in mourning.

The veteran businessman, elected mayor just last year, presides over a declining city in a declining province, and had been counting on Energy East to help turn the corner.

“This is a disappointment. It’s an economic blow. I’m frustrated,” Darling said Thursday.

The $15.7 billion pipeline project would have carried western crude to the Irving Oil refinery in Saint John and an export terminal for destinations abroad. TransCanada cancelled it Thursday, citing “changed circumstances.”

While Quebec politicians like Montreal Mayor Denis Coderre and environmental activists celebrated the demise of the project, Darling lamented the loss of jobs and revenue.

“This a huge economic blow to Saint John, to New Brunswick and to the country,” Darling said.

The Energy East Saint John Partners Forum had estimated the project would increase the provincial GDP by $6.5 billion, and create thousands of jobs over several decades.

Ian Whitcomb, president of the Saint John-based Irving Oil, called it the loss of a “once in a lifetime opportunity.”

Darling said his once-affluent city — the oldest incorporated city in Canada — was looking to Energy East as a source of momentum to get the economy moving.

He said in the short term, the city of 67,000 people is facing a $4.5 million shortfall this year and needs to make tough decisions if it is to avoid raising the city’s tax rate — already the highest in the region.

The 2016 census showed the population of Saint John fell by 3.6 per cent over the previous five years — falling from 70,063 to 67,575 — and losing its status as the largest city in the province.

A New Brunswick sociologist, Hassan Arif, likened the city to Detroit in a 2012 column for HuffPost, saying Saint John’s decline isn’t as severe but it faced similar challenges: They were both declining cities with growing suburbs, with concentrated urban poverty and a shrinking tax base. Both have multiple vacant and abandoned buildings.

Even before the Energy East announcement, Darling was openly expressing his concerns about his city’s financial woes.

In a Facebook post Wednesday, Darling said “I’m tired, beat up, frustrated and sad. I’m all those things because we need to change,” he wrote. “We are in a mess, this didn’t happen overnight, it’s been years in the making.”

On Thursday, Darling said the Energy East project was “truly a test of our country and our ability to come together and we failed.”

He blames the regulatory process and opponents of the project in Quebec.  

“The fact that one of the provinces in our country appeared to do everything it could to block this project in any fashion — I think that was obviously a factor,” he said.

Darling said his city needs help from the province and Ottawa — either a large project or a number of smaller ones to stimulate the economy.

“We need help. We need to work with the provincial government and Premier (Brian) Gallant is signalling that he is accepting my challenge that Saint John needs a new deal,” he said. “We have to match actions with the reality and urgency we’re facing as a community.”

Gallant said Thursday energy is still a huge opportunity for Saint John, noting that the province is looking at various forms of renewable energy such as tidal power.

“There will be a new deal for Saint John,” Gallant said. “As the industrial base of our economy, we need Saint John to be firing on all cylinders.”

Darling said the city would take the next 30 days to more clearly define what help it needs from the other levels of government.

 “All we want is a fighting chance to put Saint John on a more sustainable path,” he said.

Kevin Bissett, The Canadian Press

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Former U.S. energy secretary says communication key for energy project approval

CALGARY — The former U.S. secretary of energy in the Obama administration says there are no easy answers when it comes to winning public support for critical energy infrastructure projects.

American nuclear physicist Ernest Moniz, who was energy secretary from 2013 to 2017, gave a speech in Calgary focusing on the need for innovation to reduce greenhouse gas emissions while still ensuring a supply of energy needed to maintain the North American standard of living.

He says there’s no “cookie-cutter solution” to overcome public opposition to projects such as the Energy East pipeline cancelled Thursday by Calgary-based TransCanada Corp. (TSX:TRP).

Moniz says the key to winning social licence to build is listening to the community and educating it about the liabilities and benefits the project might offer.

He says the recent interest by China in improving its greenhouse gas emissions will have an indirect benefit for Canada in that it will drive a resurgence in world demand for liquefied natural gas.

He expects that will translate into at least four more new U.S. LNG export facilities in the next five years, some possibly sourcing Canadian gas, and could provide a market for a Canadian LNG industry.

Although about 20 LNG projects have been proposed for British Columbia, only one small project has been approved and two large projects have been cancelled or put on hold because of deteriorating global LNG prices.

“I do expect the LNG market to grow substantially. There is a little bit of an oversupply for a few years but longer term, I think it will be a big market,” Muniz said.

“For Canada, well, obviously it’s a question of getting product on the water, so there are routes through the United States but Canada has to figure out how to get it either west or east or south.”

He says the boom in shale oil and gas production in the United States makes it important for Canada to diversify its energy customer base by finding more routes to ocean export points. 

 

The Canadian Press

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Pipeline approval put Alberta’s needs ahead of B.C.’s oil-spill concerns

VANCOUVER — A lawyer representing British Columbia in its fight against the Trans Mountain pipeline expansion says the federal cabinet’s approval of the project is “lopsided” because it put Alberta’s economic needs ahead of B.C.’s concerns about oil spills.

Thomas Berger said outside the Federal Court of Appeal on Thursday that the $7.4-billion project would disproportionately impact the interests of B.C. residents in the event of a marine spill of diluted bitumen.

While Alberta would get the lion’s share of benefits through development of its oil resources and access to Pacific Rim markets, B.C. would bear the entire environmental risk, he told The Canadian Press in an interview.

In its approval of the project last November, the governor in council breached its statutory duty to provide reasons for deciding it was not likely to cause significant adverse environmental effects, Berger said on behalf of the attorney general of B.C., which is an intervener in the case.

“The governor in council made its choice but it did not give any reasons. All we got was the conclusion. It’s like getting a judge’s verdict without getting any reasons,” Berger said.

“I urged the court to rule that the cabinet had to obey the command of Parliament, which is the order in council must set out the reasons for making the order,” the former B.C. Supreme Court judge said.

“I told the court, ‘This isn’t technical, it’s fundamental,’ ” Berger said.

The federal government’s explanatory note accompanying the order in council approving Trans Mountain says detailed reasons for the decision are set out in four reports, including one by the National Energy Board.

“The citizen shouldn’t have to search through hundreds of documents to find out the reason why the cabinet made the choice it did,” Berger said. “That’s why Parliament said cabinet’s reasons must be set out in the order in council.”

Alberta, which favours the pipeline project on the grounds it would create jobs and investment opportunities, is scheduled to make its arguments in the Federal Court of Appeal next week.

Several First Nations, two environmental groups and the cities of Vancouver and Burnaby are also against the pipeline expansion that the federal government approved last November.

Indigenous groups have maintained a seven-fold increase in tanker traffic would substantially increase the risks of diluted bitumen spills, with no known means of adequately cleaning it up, and put endangered southern resident killer whales in peril.

First Nations groups also say the federal government failed to adequately consult with them or gain their consent for expanding the pipeline.

Trans Mountain, a subsidiary of Kinder Morgan Canada, aims to double an existing Alberta-to-B.C. pipeline with nearly 1,000 more kilometres of pipeline in new and existing corridors.

British Columbia’s former Liberal government supported the project, saying Kinder Morgan had met five government conditions including a revenue-sharing agreement worth up to $1-billion.

However, the New Democrat government, which formed an alliance with the Green party to support its minority government this year, has said it would oppose the pipeline expansion.

Earlier Thursday, TransCanada announced it had cancelled its plans for the $15.7-billion Energy East pipeline which was to carry oil from Alberta and Saskatchewan to refineries Quebec and New Brunswick.

Last September, the Federal Court of Appeal overturned Ottawa’s approval of Enbridge’s Northern Gateway pipeline project, two years after the federal cabinet granted a permit

— Follow @CamilleBains1 on Twitter.

Camille Bains, The Canadian Press

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Controversial events in the history of TransCanada’s Energy East pipeline

TORONTO — TransCanada Corp. has cancelled its $15.7-billion proposed Energy East pipeline, with CEO Russ Girling citing non-specific “changed circumstances” Thursday morning. Supporters of the Calgary-based company’s project — which would build and operate a 4,500-kilometre pipeline from Alberta to the East Coast — are casting the blame on costs and delays from federal government regulatory meddling, while other point to simple market forces. Here’s a timeline of events in the controversial pipeline’s history. 

Aug. 1, 2013: TransCanada announces at the height of the oil boom that it is officially moving ahead with the Energy East pipeline project, promising jobs, tax revenue, and energy security.

Oct. 29, 2014: A report released by environmental groups questions whether Energy East is necessary to supplant Eastern Canada’s oil imports from the foreign suppliers frequently mentioned by TransCanada. The company has said repeatedly that eastern Canadian refiners rely on imports for 86 per cent of their daily needs. 

May 13, 2015: More than 60 organizations call on the National Energy Board to suspend TransCanada’s application for the Energy East Pipeline. Groups including Greenpeace Canada, the Council of Canadians and the David Suzuki Foundation said in a letter to the federal pipeline regulator that it should suspend the review process while waiting for new information from the company.

July 31, 2015: TransCanada warns the $12-billion price tag for its Energy East pipeline project is expected to grow. The company says a decision in April to relocate a proposed marine terminal at Cacouna, Que., due in part to concern for beluga whales near the site, will increase costs.

Aug. 19, 2015: TransCanada says concerns raised about Energy East in a report about the potential impact of the project on whales and some fisheries in the Bay of Fundy are unfounded. A report released by the Conservation Council of New Brunswick said noise from tanker traffic causes heightened levels of stress for the North Atlantic right whale, the most endangered large whale in the world.

Oct. 8, 2015: Environmental group Environmental Defence says the National Energy Board is rushing the process for Energy East by gathering oral traditional evidence from aboriginal bands before it has received a complete application.

Dec. 17, 2015: TransCanada files an amended application and cost estimate of $15.7 billion for Energy East. The company says the filing with the National Energy Board makes nearly 700 changes to the route in response to concerns for environmentally sensitive areas.

Feb. 3, 2016: The National Energy Board directing TransCanada to rework its application to build the contentious Energy East pipeline because the document is too hard to understand — even for experts.

March 1, 2016: National cohesion on Energy East drifts further out of reach after the Quebec government announced plans to seek an injunction against TransCanada. Environment Minister David Heurtel said his government got no response from the company to two letters it sent in late 2014 advising that the project must pass a provincial environmental impact assessment.

March 7, 2016: Protesters in Quebec disrupt hearings into the Energy East project seconds after they officially started. The province’s environmental regulation agency quickly suspended hearings into the project, which were meant to conduct an environmental assessment of the risks and benefits and produce a report to Quebec’s environment minister.

June 16, 2016: The National Energy Board says it has officially started the clock on its review of Energy East. The NEB now has 21 months to hold hearings along the 4,500-kilometre route from Alberta to New Brunswick and report to government whether the pipeline is in the national interest.

Aug. 30, 2016: All future National Energy Board hearings into TransCanada’s Energy East pipeline project are suspended until the board rules on motions demanding two of three panel members resign. The NEB board received the motions after a news report revealed the two members met with ex-Quebec premier Jean Charest, who was at the time a paid consultant for TransCanada.

Sept. 9, 2016: The National Energy Board sidelines all three Energy East reviewers following complaints that two of them met privately with a TransCanada consultant the year before and discussed the proposed oil pipeline. 

Jan. 27, 2017: The new National Energy Board panel tasked with reviewing the Energy East pipeline decides to throw out all of the decisions made by the previous panel. The board said all hearing steps and related deadlines for the TransCanada Corp. project are no longer applicable as the new panel begins its review.

Aug. 23, 2017: In a decision cheered by environmentalists but considered a setback by the oil industry, the National Energy Board says it will allow wider discussion of greenhouse gas emission issues in upcoming hearings for the Energy East Pipeline. It says it will for the first time consider the public interest impact of upstream and downstream GHG emissions from potential increased production and consumption of oil resulting from the project.

Oct. 5, 2017: TransCanada announces it is no longer going ahead with the Energy East pipeline project.

The Canadian Press

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‘Deeply disappointed:’ Premiers say loss of Energy East pipeline bad for West

REGINA — The premiers of Alberta and Saskatchewan say Energy East would have been a nation-building project and that TransCanada’s decision to cancel the pipeline is a bad day for the West.

Alberta Premier Rachel Notley says Energy East — which would have carried Alberta oil to tidewater — would have benefited all of Canada with new jobs, investment, energy security and the ability to displace imported oil.

Saskatchewan Premier Brad Wall says the reasons for the decision fall at the feet of Prime Minister Justin Trudeau and the federal government.

Wall says they’ve been “at best, ambivalent about the project” and then changed the rules for the regulator review at the last moment.

He says the expectation from the federal government, and some powerful central Canadian interests, is that the West “will just grin and bear this latest blow” to its economy and people.

Calgary-based TransCanada (TSX:TRP) said it’s abandoning the project after a careful review of changed circumstances.

“We have a company that committed more than a billion dollars to a project and made earnest efforts to address the concerns of the public and regulators. A company that made 700 changes to its plans as part of that response,” Wall said in a statement Thursday.

“Make no mistake, other companies’ decisions to invest in Canada will be informed by this debacle.”

Supporters say Energy East was necessary to expand Alberta’s markets and decrease its dependency on shipments to the United States. Detractors raised questions about the potential environmental impact.

“We are deeply disappointed by the recent decision from TransCanada,” Notley said in a statement. “We understand that it is driven by a broad range of factors that any responsible business must consider. Nonetheless, this is an unfortunate outcome for Canadians.”

Notley suggested more clarity is needed going forward.

“The National Energy Board needs to send a clear message on what the future of project reviews look like in Canada,” she said.

“Our government understands that deliberation on upstream emissions and land-use integrity is important and must continue. Investors need confidence and we look forward to seeing that certainty in place soon.”

The Canadian Press

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QuickQuotes: what’s being said about the end of TransCanada’s Energy East

TransCanada announced Thursday that it wasn’t going ahead with the Energy East pipeline, bringing on a wave of comments either condemning or celebrating the outcome. Here is what some are saying:

“Today is not a good day for Canada. It is not a good day for the federation. It is a very bad day for the west. TransCanada made the decision to cancel Energy East – but make no mistake, the reasons for it fall at the feet of Prime Minister Justin Trudeau and the federal government. They have been, at best, ambivalent about the project and then moved the goalposts at the last moment by asking the regulator to consider the impact of upstream greenhouse gas emissions.” — Saskatchewan Premier Brad Wall

“I am satisfied that TransCanada is abandoning this project. Given the low level of social acceptability of such a project, it was the only option.” — Montreal Mayor Denis Coderre

“We are deeply disappointed by the recent decision from TransCanada. We understand that it is driven by a broad range of factors that any responsible business must consider. Nonetheless, this is an unfortunate outcome for Canadians.” — Alberta Premier Rachel Notley

“TransCanada Pipelines’ decision to cancel the Energy East Pipeline project was a business decision…Our government would have used the same process to evaluate the Energy East Pipeline project that saw the Trans Mountain expansion and Line 3 projects approved. Nothing has changed in the Government’s decision-making process.” — Minister of Natural Resources Jim Carr

“This is a sad day for Canada. The construction of the Energy East pipeline was a once-in-a-lifetime opportunity. This was a $15-billion private-sector investment that would have enabled further investment and development in our country, creating thousands of skilled jobs and generous tax revenues and royalties for all levels of government along with creating energy security for our country.” — Ian Whitcomb, President of Irving Oil

“The message from today’s cancellation of TransCanada’s proposed Energy East pipeline is loud and clear: new tar sands pipelines don’t make sense – economically or environmentally – in a world that is addressing climate change and moving away from fossil fuels.” — Environmental Defence campaigner Patrick DeRochie

“We’re disappointed. We supported the Energy East pipeline because it would have provided supply options and access to western Canadian crudes for our Montreal refinery and also would have provided access to new markets which is critical for Canadian producers.” — Sneh Seetal, spokeswoman for Suncor Energy

“Both the Northern Gateway fight and this Energy East one show that when First Nations stand together, supported by non-Indigenous allies, we win…So that’s two tar sands expanding mega-pipelines stopped in their tracks but it will be a hollow victory if either Kinder Morgan, Line 3 or Keystone XL are allowed to steamroll over Indigenous opposition and serve as an outlet for even more climate-killing tar sands production.” — Grand Chief Serge Simon of the Mohawk Council of Kanesatake on behalf of the Treaty Alliance Against Tar Sands Expansion

“Energy East really would have allowed us to become more energy independent as a nation to provide Canadian consumers with Canadian energy plus giving us more access to tidewater, so today is a very disappointing day.” — Calgary Mayor Naheed Nenshi

“The Building Trades regrets the opportunities that have been lost in Atlantic Canada, Québec, Ontario and on the Prairies. What have been lost are high quality, high paying jobs in all of those regions on the construction of this world-class, nation building project.” — Robert Blakely, operating officer of Canada’s Building Trades Unions 

The Canadian Press

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Demise of Energy East exposes deep political divide between energy, environment

OTTAWA — TransCanada’s decision to cancel the Energy East pipeline project exposed deep divisions across the political landscape Thursday, highlighting the ever-present clash between energy development and environmental protection.

The premiers of Alberta and New Brunswick and Calgary Mayor Naheed Nenshi all expressed disappointment over the decision, while the Opposition Conservatives blasted Prime Minister Justin Trudeau’s Liberal government for “disastrous” energy policies that they blame for lost jobs and investment.

Quebec politicians, along with Indigenous and environmental groups, welcomed the project’s demise, branding it as a harbinger of the inevitable death of fossil fuels and a reminder of the need for further green energy development.

The political implications for the federal Liberals, who are trying to strike a difficult balance between energy and the environment, were mixed. Where charges of environmental negligence followed the approvals of the Trans Mountain and Line 3 projects, this time the government was savaged for being soft on jobs and economic growth.

The main political fight is over whether the pipeline was cancelled mainly because of changes that meant emissions caused from extracting oil before it goes into the pipeline (upstream) as well as burning it for fuel after it exits the pipeline (downstream), will now be considered as part of the decision about whether a project is in the national interest.

Previously the NEB process only included looking at emissions caused from actually building and operating a pipeline, but has added upstream and downstream emissions at the behest of the government, which promised to make the NEB review process more vigorous and transparent.

Natural Resources Minister Jim Carr contended today that both the TransMountain pipeline expansion between Alberta and B.C. and the overhaul of Enbridge’s Line 3 between Alberta and Wisconsin, were approved with upstream emissions as part of the package.

“Our government would have used the same process to evaluate the Energy East pipeline project,” he said. “Nothing has changed in the government’s decision-making process.”

Energy East had already been delayed a year after the first review process was dumped in September 2016 following allegations the original review panel had a conflict of interest with TransCanada. The second review, announced by the NEB in August, was to include both upstream and downstream emissions.

Shortly after that, TransCanada announced it was putting the application on hold pending further analysis of the NEB’s new review requirements. On Thursday, it said it would shelve the project.

Deputy Tory leader Lisa Raitt blamed the decision on “the disastrous energy policies promoted by Justin Trudeau and his failure to champion the Canadian energy sector.”

New Liberal regulations on Canadian energy projects have forced companies to adhere to standards not enforced in other countries, giving exporters in Venezuela, Saudi Arabia and Algeria a competitive advantage, she said.

“Justin Trudeau claims to support the middle class, but the truth is that the very people that the prime minister is claiming to help are the people most hurt by his misguided policies.”

Trudeau however said in question period Thursday this was a business decision because “the market conditions have changed fundamentally” since the pipeline was proposed, including a steep drop in oil prices.

Jeff Rubin, former chief economist at CIBC World Markets and a senior fellow at the Centre for International Governance Innovation, agreed, saying the economics are just not there for this pipeline with oil at less than half the price it was three years ago.

“There is neither the supply nor the demand for the product it would deliver,” he said.

He said many of the new pipelines being proposed were to respond to an expected doubling of production in the oilsands, which is not happening because of the lower price of oil and is not expected to happen as the world begins to shift away from oil towards renewable resources.

Benjamin Dachis, associate director of research at the C.D. Howe Institute, said the government’s policies didn’t help but were far from the only or even main reason for Energy East’s demise.

“TransCanada clearly made a decision on the market fundamentals,” said Dachis.

Dachis also pointed to a significant decision by the energy board in September that drastically reduces the cost of shipping natural gas through that pipeline.

TransCanada’s proposal was to convert the existing Energy East pipeline to oil from natural gas because the higher cost of shipping the gas through the pipeline meant it was under capacity. But the NEB’s decision to cut that cost changes that entirely, which means keeping the pipeline as a natural gas pipeline is now far more lucrative, said Dachis.

Trans Mountain and Line 3 together represent more than $11.6 billion in investment that will support “thousands” of jobs, Carr said. And he rejected the argument that the Liberals’ changes to the regulatory framework played a role.

Carr shrugged off Raitt’s criticism, saying there are signs of growth in the energy sector despite “market challenges” posed by sagging oil prices.

“Canada is open for business. We offer a stable and predictable investment climate, world-class energy reserves, proximity to global markets, a skilled workforce and enabling services and technology.”

Mike Blanchfield and Mia Rabson, The Canadian Press

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Conservatives savage Liberal government over cancelled Energy East pipeline

OTTAWA — The Opposition Conservatives are tearing a strip off the Liberal government over TransCanada’s decision to cancel the Energy East pipeline project.

Deputy Tory leader Lisa Raitt is blaming the decision squarely on what she described as the “disastrous” Liberal policies of Prime Minister Justin Trudeau.  

“Today is the result of the disastrous energy policies promoted by Justin Trudeau and his failure to champion the Canadian energy sector,” Raitt told a news conference on Parliament Hill.

New Liberal regulations on Canadian energy projects have forced companies to adhere to standards not enforced in other countries, giving exporters in Venezuela, Saudia Arabia and Algeria a competitive advantage, she continued.

“Justin Trudeau claims to support the middle class, but the truth is that the very people that the prime minister is claiming to help are the people most hurt by his misguided policies.”

Energy Minister Jim Carr shrugged off Raitt’s broadsides, insisting that the TransCanada decision was motivated entirely by business considerations influenced by the state of commodity prices. He also noted that the government already approved two other projects, the Trans Mountain and Line 3 expansions.

“I guess their role as the official Opposition is to try to score partisan political points,” Carr said.

“I think it’s my role to explain the government of Canada’s position, nor should we be involved in some kind of race to the bottom comparing oil exports and imports from one country to another…. the regulatory process, which is our responsibility as the government of Canada, is unchanged and I think that’s the most important point to make.”

Carr pointed to the Trans Mountain expansion and the Line 3 project, both of which he said represent more than $11.6 billion in investment that will support “thousands” of jobs.

That Trans Mountain approval happens to be under a legal microscope this week as Indigenous and environmental groups and British Columbia cities argue the process failed to take into account the impact the pipeline could have on everything from killer whales to waterways.

The $7.4 billion pipeline, a project by a subsidiary of Kinder Morgan, is aimed at more than doubling the capacity of an existing line between Edmonton and Burnaby, B.C. The $7.5-billion, 1,660-kilometre Line 3 project by Enbridge Inc., meanwhile, would expand an existing pipeline between Hardisty, Alta., and Wisconsin, the goal being to increase export capacity to Chicago, the U.S. Gulf Coast and eastern refineries in both countries.

“Our government would have used the same process to evaluate the Energy East pipeline project that saw the Trans Mountain expansion and Line 3 projects approved,” said Carr. “Nothing has changed in the government’s decision-making process.”

There are signs of growth in the energy sector despite “market challenges” fostered by the persistently low price of oil, he added.

“Canada is open for business. We offer a stable and predictable investment climate, world-class energy reserves, proximity to global markets, a skilled workforce and enabling services and technology.”

Energy East had been proposed as a way to move Alberta oilsands production as far east as an Irving Oil operation in Saint John, N.B.

Supporters say Energy East was necessary to expand Alberta’s markets and decrease its dependency on shipments to the United States. Detractors raised questions about the potential environmental impact.

Calgary-based TransCanada (TSX:TRP) had announced last month that it was suspending its efforts to get regulatory approvals for the mega projects.

It will now inform the federal and provincial regulators that it will no longer be proceeding with its applications for the projects.

“After careful review of changed circumstances, we will be informing the National Energy Board that we will no longer be proceeding with our Energy East and Eastern Mainline applications,” CEO Russ Girling said in a statement.

He added that TransCanada will also withdraw from a Quebec environmental review.

 

The Canadian Press

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Much More Than the Oil Patch: Enterprise Group’s Calgary Tunneling is Taking “Infrastructure” National

Enterprise Group logo Feature

The media is becoming fixated on the repair/rebuilding of just about every public piece of infrastructure in the known universe. And that’s a good thing. Not to mention replacing pipes of all varieties (oil, water, gas etc.) and the attendant support structures. Infrastructure bellwethers such as SNC Lavalin (TSX: SNC) is trading near it’s 52-week … Read more

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Putin Hosts Saudi King on `Landmark’ Russia Visit Amid Oil Talks

October 5, 2017 (Bloomberg) President Vladimir Putin began talks with Saudi King Salman bin Abdulaziz, who’s making a historic first visit to Russia by a monarch of the Gulf kingdom as the two energy superpowers seek an understanding on whether to extend an agreement curbing oil supplies. The Kremlin summit is a “landmark event” that will … Read more

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Oil Trades Near $50 as U.S. Exports Soar, Putin Comments on Cuts

Oil-Prices

October 5, 2017 by Grant Smith (Bloomberg)  Oil traded near $50 a barrel in New York as traders weighed a flood of U.S. crude exports against the possibility of extended production cuts by OPEC and Russia. Futures were little changed after settling at a two-week low on Wednesday. Overseas shipments from the U.S. jumped to … Read more

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BREAKING NEWS: TransCanada Scraps Energy East, Sees $801 Million Charge

October 5, 2017,  by Meenal Vamburkar (Bloomberg) TransCanada Corp. has scrapped its Energy East Pipeline and Eastern Mainline projects, oil and natural gas conduits that have faced regulatory hurdles in Canada and stiff opposition from environmental groups. As a result of the decision, TransCanada expects an estimated C$1 billion ($801 million) after-tax, non-cash charge to be … Read more

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TransCanada blames ‘substantial uncertainty’ for killing Energy East pipeline

CALGARY — TransCanada Corp. (TSX:TRP) says it is cancelling its $15.7-billion proposed Energy East pipeline because of “substantial uncertainty” caused by a regulatory panel’s decision to include upstream and downstream emissions in its assessment of the project.

CEO Russ Girling cited non-specific “changed circumstances” for the decision in a brief news release Thursday morning, without giving further explanation.

But in a letter to the National Energy Board posted Thursday on the NEB website, TransCanada says it’s halting the project because of a National Energy Board panel’s decision in September to allow hearings to consider greenhouse gas emissions from producing and processing the oil it transports in the pipeline, an unprecedented expansion of the scope of the inquiry.

In the letter, it says despite offers from the province of New Brunswick and the federal government to cover the cost of the analysis, it creates “substantial uncertainty around the scope, timing and cost associated with the regulatory review” of Energy East and the associated Eastern Mainline projects.

“After completing its careful review of these factors, the existing and likely future delays resulting from the regulatory process, the associated cost implications and the increasingly challenging issues and obstacles facing the projects, the applicants will not be proceeding further with the projects (which would include not constructing the proposed marine terminal in New Brunswick),” the company’s letter says.

“The applications for the projects are hereby formally withdrawn.”

The decision comes a month after TransCanada asked the NEB to put regulatory hearings on hold.

“It’s a blow. It’s being portrayed as a business decision but it’s more than that,” said Chris Bloomer, CEO of the Canadian Energy Pipeline Association, adding the decision means about 400,000 barrels per day of foreign oil will continue to be imported into Eastern Canada.

“It really is a result of this constant, and I’ll say this, drip, drip, drip of regulatory uncertainty that are impacting these kinds of infrastructure decisions.”

But Adam Scott, a senior adviser at the environmental group Oil Change International, had a different interpretation.

“Realizing that Energy East would never be allowed if its full climate impact was accounted for, TransCanada has walked away from the project,” he said in a statement. “Energy East was a disaster waiting to happen.”

The proposed project is a 4,500-kilometre pipeline designed to carry 1.1 million barrels of oil a day from Alberta and Saskatchewan to refineries in Montreal and Saint John, N.B. The project includes converting an existing natural gas pipeline to carry crude and building new segments of pipeline to complete the route.

A year ago, its first round of NEB hearings collapsed after protesters shut down hearings in Montreal and accused the panellists of bias, prompting the board to start the review process from scratch with a new, three-member panel early this year.

Some industry analysts have questioned the need for the Energy East project after TransCanada’s 830,000-bpd Keystone XL project received U.S. approval to transport oil from Alberta to the U.S. Gulf Coast and Kinder Morgan won federal approval of its Trans Mountain pipeline project to nearly triple capacity of its 1,150-kilometre line from Edmonton to Burnaby, B.C., to 890,000 bpd.

Enbridge Inc.’s rebuild of its Line 3 export pipeline to the U.S. is expected to add another 375,000 bpd of capacity.

But the Canadian Association of Petroleum Producers says all the pipelines are needed, predicting in June that national oil production will climb by 33 per cent by 2030 to reach 5.12 million bpd — CEO Tim McMillan said Thursday pipeline capacity will be exceeded under that forecast if Energy East is not in place.

Suncor Energy Inc. (TSX:SU), Canada’s largest oil, gas and refining company by market capitalization, had hoped Energy East would allow it to replace U.S. and offshore oil at its 137,000-barrel-per-day Montreal refinery, said spokeswoman Sneh Seetal.

“We’re disappointed,” she said. “We supported the Energy East pipeline because it would have provided supply options and access to western Canadian crudes for our Montreal refinery and also would have provided access to new markets which is critical for Canadian producers.”

The line would have brought western oil as far east as Irving Oil’s New Brunswick works. “This is a sad day for Canada,” said Irving president Ian Whitcomb in a statement.

The project has opened deep rifts in political circles, with New Brunswick and Alberta premiers expressing disappointment Thursday and Quebec politicians like Montreal Mayor Denis Coderre celebrating its demise.

In its news release, TransCanada said it will record a non-cash charge of about $1 billion in its fourth-quarter results to account for funds invested in the failed venture.

Girling assured investors that he expects TransCanada will continue to focus on its $24-billion near-term capital program, which he said will support growth in its annual dividend.

RBC Capital Markets analyst Robert Kwan said in a report the news was “neutral” from an investor point of view because of market skepticism that the project would proceed.

TransCanada shares closed up one per cent at $61.55 on Thursday on the Toronto Stock Exchange.

 

Follow @HealingSlowly on Twitter.

Dan Healing, The Canadian Press

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Five Things World Business Will be Talking About Today

October 5, 2017 by Lorcan Roche Kelly (Bloomberg)  Puerto Rico is running out of money, Spain says Catalan independence can’t happen, and the Russia-Saudi Arabia meet begins. Here are some of the things people in markets are talking about today. Money’s tight Puerto Rico’s general-obligation bonds due in 2035 dropped to 32 cents on the dollar … Read more

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Fraser Institute News Release: Court’s ‘land title’ decision threatens economic prosperity of First Nations in B.C.

FOR: THE FRASER INSTITUTE
Date issue: October 05, 2017Time in: 8:00 AM eAttention:
VANCOUVER, BC –(Marketwired – October 05, 2017) – A Supreme Court of Canada
ruling has made it unclear how First Nations can use and develop their own
land, threateni…

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TransCanada Announces Termination of Energy East Pipeline and Eastern Mainline Projects

FOR: TRANSCANADA
TSX SYMBOL: TRP
NYSE SYMBOL: TRP

Date issue: October 05, 2017
Time in: 7:30 AM e

Attention:

CALGARY, ALBERTA–(Marketwired – Oct. 5, 2017) – News Release – TransCanada
Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) announced today it will no
longer be proceeding with its proposed Energy East Pipeline and Eastern
Mainline projects.

Following is a statement from TransCanada President and Chief Executive Officer
Russ Girling:

After careful review of changed circumstances, we will be informing the
National Energy Board that we will no longer be proceeding with our Energy East
and Eastern Mainline applications. TransCanada will also notify Quebec’s
Ministere du Developpement durable, de l’Environnement, et Lutte contre les
changements climatiques that it is withdrawing the Energy East project from the
environmental review process.

We appreciate and are thankful for the support of labour, business and
manufacturing organizations, industry, our customers, Irving Oil, various
governments, and the approximately 200 municipalities who passed resolutions in
favour of the projects. Most of all, we thank Canadians across the country who
contributed towards the development of these initiatives.

We will continue to focus on our $24 billion near-term capital program which is
expected to generate growth in earnings and cash flow to support an expected
annual dividend growth rate at the upper end of an eight to 10 per cent range
through 2020.

As a result of its decision not to proceed with the proposed projects,
TransCanada is reviewing its approximate $1.3 billion carrying value, including
allowance for funds used during construction (AFUDC) capitalized since
inception and expects an estimated $1 billion after-tax non-cash charge will be
recorded in the company’s fourth quarter results. TransCanada stopped
capitalizing AFUDC on the project effective August 23, 2017, as disclosed on
September 7, 2017. In light of the project’s inability to reach a regulatory
decision, no recoveries of costs from third parties are expected.

With more than 65 years’ experience, TransCanada is a leader in the responsible
development and reliable operation of North American energy infrastructure
including natural gas and liquids pipelines, power generation and gas storage
facilities. TransCanada operates one of the largest natural gas transmission
networks that extends more than 91,500 kilometres (56,900 miles), tapping into
virtually all major gas supply basins in North America. TransCanada is the
continent’s leading provider of gas storage and related services with 653
billion cubic feet of storage capacity. A large independent power producer,
TransCanada currently owns or has interests in approximately 6,200 megawatts of
power generation in Canada and the United States. TransCanada is also the
developer and operator of one of North America’s leading liquids pipeline
systems that extends over 4,300 kilometres (2,700 miles), connecting growing
continental oil supplies to key markets and refineries. TransCanada’s common
shares trade on the Toronto and New York stock exchanges under the symbol TRP.
Visit TransCanada.com to learn more, or connect with us on social media and 3BL
Media.

FORWARD LOOKING INFORMATION

This publication contains certain information that is forward-looking and is
subject to important risks and uncertainties (such statements are usually
accompanied by words such as “anticipate”, “expect”, “believe”, “may”, “will”,
“should”, “estimate”, “intend” or other similar words). Forward-looking
statements in this document are intended to provide TransCanada security
holders and potential investors with information regarding TransCanada and its
subsidiaries, including management’s assessment of TransCanada’s and its
subsidiaries’ future plans and financial outlook. All forward-looking
statements reflect TransCanada’s beliefs and assumptions based on information
available at the time the statements were made and as such are not guarantees
of future performance. Readers are cautioned not to place undue reliance on
this forward-looking information, which is given as of the date it is expressed
in this news release, and not to use future-oriented information or financial
outlooks for anything other than their intended purpose. TransCanada undertakes
no obligation to update or revise any forward-looking information except as
required by law. For additional information on the assumptions made, and the
risks and uncertainties which could cause actual results to differ from the
anticipated results, refer to the Quarterly Report to Shareholders dated July
27, 2017 and 2016 Annual Report filed under TransCanada’s profile on SEDAR at
www.sedar.com and with the U.S. Securities and Exchange Commission at
www.sec.gov.

– END RELEASE – 05/10/2017

For further information:
Media Enquiries:
Terry Cunha / Mark Cooper
403.920.7859 or 800.608.7859
OR
TransCanada Investor & Analyst Enquiries:
David Moneta / Stuart Kampel
403.920.7911 or 800.361.6522

COMPANY:
FOR: TRANSCANADA
TSX SYMBOL: TRP
NYSE SYMBOL: TRP

INDUSTRY: Energy and Utilities – Oil and Gas
RELEASE ID: 20171005CC0005

Press Release from Marketwired 1-866-736-3779

All press releases are written by the client and have NO affiliation with the news copy written by The Canadian Press. Any questions that arise due to the content or information provided in the press release should be directed to the company/organization
issuing the release, not to The Canadian Press.

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Watchdog dismisses environmental spying complaint, prompting appeal

OTTAWA — A federal watchdog has dismissed a complaint from a civil liberties group alleging Canada’s spy agency overstepped the law while monitoring environmental activists.

The British Columbia Civil Liberties Association is now asking the Federal Court to toss out the Security Intelligence Review Committee’s decision.

The association filed a complaint with the review committee in 2014 after media reports suggested the Canadian Security Intelligence Service and other government agencies considered opposition to the petroleum industry as a threat to national security.

The complaint letter also cited reports that CSIS had shared information with the National Energy Board about so-called “radicalized environmentalist” groups seeking to participate in the board’s hearings on Enbridge’s Northern Gateway pipeline project, which would have seen Alberta crude flow westward to Kitimat, B.C.

In addition, the association alleged that CSIS had shared information with oil companies and held secret conferences with these petroleum industry players at its headquarters.

The complaint cited records, released through the Access to Information Act, that suggested certain organizations were viewed as potential security risks simply because they pushed for environmental protections.

The association argued CSIS’s intelligence gathering violated the law governing the spy service, which forbids CSIS from collecting information about Canadians unless there are reasonable grounds to suspect they constitute a threat to national security.

The review committee held closed-door hearings in Vancouver in August 2015. The association called witnesses from environmental and public-interest organizations including LeadNow, ForestEthics Advocacy Association, the Dogwood Initiative and the Sierra Club of British Columbia.

In the newly filed application to the Federal Court, the civil liberties association says the review committee’s decision to dismiss the complaint — a copy of which was received by the association Sept. 1 — contains errors of law and should be set aside. It wants the court to order the committee to take a fresh look at the complaint.

The B.C. association is also challenging the committee’s decision to prohibit the association from publicly disclosing or speaking about the evidence of its own witnesses or its final submissions.

The prohibition means the association is uncertain as to whether it can make public the review committee’s 58-page decision, since it includes summaries of evidence.

Paul Champ, a lawyer for the association, recently asked the review committee for clarity on this point. The committee said in a Sept. 25 letter that it had nothing further to add.

The review committee is the only real tool of oversight that Canadians have to ensure that CSIS is using its powers reasonably and within the bounds of the law, Champ said Wednesday. 

“This decision is deeply troubling because it keeps individual complaints and decisions essentially secret and inhibits public dialogue and debate about national security matters.”

— Follow @JimBronskill on Twitter

Jim Bronskill, The Canadian Press

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Progress Energy selling Alberta assets, but not abandoning Canada: spokeswoman

Petronas has put a massive package of oil and gas assets in Alberta on the sales block but it has no intention of abandoning the country despite the recent cancellation of its plan to build a West Coast LNG terminal, a spokeswoman says.

According to a posting on the BMO Capital Markets website, the Malaysian state-owned energy company’s subsidiary, Calgary-based Progress Energy Canada Ltd., has hired the bank to sell oil and gas drilling rights, wells, pipelines and three gas processing plants mainly located in northwestern Alberta.

“Definitely, I can say from the outset that withdrawing from Canada is not what is happening,” said Progress spokeswoman Eryn Rizzoli on Wednesday.

“The potential sale of our Deep Basin assets, which represents a small portion of Progress Energy’s resource base, would allow us to focus on our North Montney (B.C.) development, which represents significant growth opportunities in Canada,” she added in a followup email. 

Petronas bought Progress Energy in 2012 and has been one of the most active drillers in northeastern B.C. in recent years as it establishes natural gas production to feed its proposed Pacific NorthWest LNG export terminal near Port Edward, B.C.

In July, however, it cancelled the project due to poor world market prospects for its liquefied natural gas.

According to a mid-year update posted on the Petronas website in August, Progress was producing 540 million cubic feet of natural gas per day or the equivalent of about 90,000 barrels of oil per day in the first half of 2017, bringing in revenue of C$261 million.

“Despite the decision not to proceed with the PNW LNG project, Petronas remains committed to monetize the natural gas resources in the North Montney area in Canada,” the report says.

“At 22.3 trillion cubic feet of proven resources, Canada holds the second-largest gas resources in Petronas’ portfolio after Malaysia.”

The BMO posting notes the assets for sale are prospective for Dunvegan, Cardium, Cadotte, Spirit River Group and Bluesky underground formations, not the Montney.

The assets for sale include a 63 per cent average working interest in drilling rights on 400,000 gross acres or 160,000 hectares in Alberta which currently produce about 5,500 barrels of oil equivalent per day, about 55 per cent of which is natural gas and 45 per cent is oil.

The lands being sold by Progress would likely be considered non-core assets in that they are too oil-weighted and too far away from the West Coast to be part of an LNG export strategy, said oil and gas analyst Patrick O’Rourke of AltaCorp Capital.

AltaCorp doesn’t cover Progress but tracks its drilling activity and O’Rourke said that has been in decline recently.

 

Follow @HealingSlowly on Twitter.

Dan Healing, The Canadian Press

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Oil Steadies as Putin Says OPEC Pact May Endure Through 2018

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