CALGARY, Sept. 3, 2019 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to announce a significant Montney light oil pool has been discovered and appraised at Progress, Alberta, on the Corporation's 47 net section block of 100% owned lands. This discovery elevates the Progress asset to be a primary element of the Corporation's near-term liquids development program. Advantage has drilled four successful Montney wells to date at Progress, with the most recent [Read more]
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New Oil and Gas Jobs From BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Sep. 1 May 2020 - Communications/Public Relations Student Opportunities TC Energy Calgary Sep. 1 May 2020 - Law Student Opportunities TC Energy Calgary Sep. [Read more]
Foreign share of oilsands production fell over past 4 years, analysis shows
When it comes to talking about how the northern Alberta oilsands have lost their lustre for foreign investors, Satoshi Abe sounds a lot like his Canadian counterparts. "I think Canada itself creates significant barriers to new investment," said the president of Japan Canada Oil Sands Ltd. or JACOS, reached at his Calgary office. "Additional investment in Canada will only become attractive once there is sufficient egress of its resources and more certainty around its regulatory processes, [Read more]
Chinese companies commit to oilsands despite setbacks and poor operating results
CALGARY - While some European and U.S. companies cut their exposure to the Canadian oilsands, China's Big Three oil giants — CNOOC, PetroChina and Sinopec — seem content to let their bets ride even if the results haven't been spectacular. In 2018, PetroChina produced an average of just 7,300 barrels per day of bitumen from its MacKay River thermal oilsands project, although it was designed to produce 35,000 bpd. In June, its output was about 8,700 bpd. The Beijing-based company [Read more]
U.S. natgas futures rise to 7-wk high on forecasts for more demand
U.S. natural gas futures rose over 3% to a seven-week high on Tuesday on forecasts for warmer weather and higher cooling demand next week than previously expected. Front-month gas futures for October delivery on the New York Mercantile Exchange (NYMEX) were up 7 cents, or 3.1%, to $2.355 per million British thermal units at 11:29 a.m. EDT (1529 GMT), their highest since July 16. That put the contract into overbought territory for the first time since November 2018 and cut the premium [Read more]
Venezuelan oil exports fall to lowest level in 2019 as U.S. sanctions bite -data
Venezuela's oil exports fell in August to their lowest level in 2019, internal reports and Refinitiv Eikon data showed, hurt by a halt in purchases by the nation's second largest customer, China National Petroleum Corp (CNPC), following tougher U.S. sanctions. Overall exports of crude and refined products by state-run oil company Petroleos de Venezuela (PDVSA) and its joint ventures declined last month to some 770,000 barrels per day (bpd) from 992,565 bpd in July and 1.13 million bpd in [Read more]
Oil sinks as manufacturing reports renew global economy worries
Oil prices fell on Tuesday, with U.S. crude futures down more than 3%, weighed by manufacturing data that raised concerns about a weakening global economy, while the U.S.-China trade dispute continued to drag on investor sentiment. U.S. West Texas Intermediate (WTI) crude futures fell $1.91, or 3.5%, to $53.19 a barrel by 11:05 a.m. EDT (1505 GMT). It fell to a session low of $52.84 a barrel, the lowest since Aug. 9. Prices extended losses following data that showed U.S. manufacturing [Read more]
Crescent Point Announces Sale of Uinta Basin and Non-Core Saskatchewan Assets for Cash Proceeds of $912 Million
CALGARY, Sept. 3, 2019 /CNW/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is pleased to announce that it has entered into definitive agreements with select parties to sell its Uinta Basin asset in its entirety and certain southeast Saskatchewan conventional assets for total cash consideration of approximately $912 million. KEY HIGHLIGHTS Agreements to sell 27,000 boe/d of upstream assets for approximately [Read more]
Supreme Court rejects Saskatchewan’s request to delay carbon tax appeal
REGINA - Saskatchewan says the Supreme Court of Canada has denied the province's request to delay its appeal hearing over the carbon tax. The province says the Supreme Court recently issued an order stating the hearing remain tentatively set for Jan.14. The government had asked for more time and expected a delay could mean a hearing next spring. It argued a delay would allow for better co-ordination of challenges coming from other provinces such as Ontario. Ottawa [Read more]
Enbridge reaches agreement with shippers for Line 3 pipeline placement in Canada
Enbridge Inc on Friday said it reached an agreement with shippers to place the Canadian portion of the Line 3 replacement pipeline into service by the end of this year. Enbridge will be filing a tariff with the Canadian energy regulator for a temporary surcharge with a proposed effective date of Dec. 1, 2019, the pipeline operator said in a statement. The Line 3 replacement line is on schedule for the Canadian portion and once complete, the line will carry 760,000 barrels per day of [Read more]