Hearing Panel raises profile of technical, safety, security, and emergency preparedness and response considerations CALGARY, Aug. 23, 2017 /CNW/ - The National Energy Board (NEB) has announced the topics that will be part of its assessment of the Energy East and Eastern Mainline Projects. This decision follows a comment period during which about 820 submissions were received. The Hearing Panel noted the public's interest in better understanding the risks associated with potential accidents [Read more]
Archives for August 2017
Concho Resources Inc. Schedules Third Quarter 2017 Results Conference Call for Wednesday, November 1, 2017
MIDLAND, Texas--(BUSINESS WIRE)--Concho Resources Inc. (NYSE: CXO) (the “Company” or “Concho”) will host a conference call on Wednesday, November 1, 2017, at 8:00 AM CT (9:00 AM ET) to discuss third quarter 2017 financial and operating results. The Company plans to announce third quarter 2017 results on Tuesday, October 31, 2017, after close of trading. Conference Call Information: Dial-in: (844) 263-8298Intl. dial-in: (478) [Read more]
Canadian province Alberta sees lower revenues on weak oil prices
Canada's largest crude-producing province Alberta downgraded its 2017-18 revenue forecast on Wednesday because of lower-than-expected oil prices that have battered the once-booming economy. In a first quarter update the government said total revenues are likely to be C$44.4 billion this fiscal year, C$648 million lower than expected in the annual budget, and downgraded its U.S. crude oil price assumption to $49 a barrel from $55 a barrel. U.S. crude was last trading at $48.28 a barrel. [Read more]
Tumbling oil prices continue to plague Alberta’s bottom line: fiscal update
EDMONTON - Sluggish oil prices are forcing Alberta to dip into its reserve fund and look for more in-house savings to keep its $10.5-billion deficit from sliding further into the red. In his first-quarter fiscal update, Finance Minister Joe Ceci said the province had expected the West Texas Intermediate benchmark oil price to average out at US$55 a barrel this year. Instead, it's hovering below US$49 a barrel and isn't expected to rise much in the near term. "The forecast [Read more]
Oil edges up on eighth weekly U.S. crude stock drawdown
Oil prices rose on Wednesday after U.S. crude inventories declined for the eighth straight week and a storm approached the Gulf Coast with the potential to disrupt oil and refined products output. Brent crude futures climbed 58 cents to $52.45 a barrel by 12:12 p.m. EDT (1612 GMT), while U.S. West Texas Intermediate crude futures were trading at $48.34, up 51 cents. U.S. crude inventories fell 3.3 million barrels last week, compared with analyst expectations for a decrease of 3.5 million [Read more]
Saskatchewan finance minister says budget update will come Friday
REGINA - Saskatchewan Finance Minister Kevin Doherty says he will present a first-quarter budget update on Friday. Doherty says it's too soon to know what impact a drought in southwestern Saskatchewan might have on budget numbers. He says there's no question the area is in distress, but producers in other regions are reporting better-than-expected yields given the conditions. Agriculture has been helping the Saskatchewan government's bottom line in the last couple of [Read more]
Poll suggests Albertans want tighter methane rules for energy industry
EDMONTON - As governments and regulators consider new rules for methane, a poll suggests nearly three-quarters of Albertans want tighter controls on the release of a potent greenhouse gas from oil and gas facilities. The poll, done by EKOS research and funded by Environmental Defence, says 71 per cent of those surveyed want regulations on methane release to be at least as strict as those in the U.S. "We wanted to demonstrate that people in Alberta, in particular, want to see this [Read more]
Energy East Pipeline review topics to be released, may include GHG emissions
CALGARY - In a decision cheered by environmentalists but considered a setback by the oil industry, Canada's national energy regulator says it will allow wider discussion of greenhouse gas emission issues in upcoming hearings for the Energy East Pipeline. The National Energy Board said Wednesday 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. [Read more]
Oil prices fall on concerns of oversupply
Oil prices fell early on Wednesday, squeezed by concerns of oversupply sparked by rising Libya output. Brent crude futures, the international benchmark for oil prices, were at $51.61 per barrel at 0105 GMT, down 26 cents, or 0.5 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $47.63 a barrel, down 20 cents, or 0.4 percent. Bernstein Research warned that low prices and ample supplies were resulting in low oil industry investment levels. "We see (oil [Read more]
Hemisphere Energy Announces Q2 2017 Financial and Operating Results
TSX-V: HME VANCOUVER, Aug. 23, 2017 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") announces its financial and operating results for the three and six months ended June 30, 2017. Q2 2017 Highlights Achieved quarterly average production of 600 boe/d (92% oil), a 22% increase over the second quarter of 2016. Increased revenue by 67% to $2.4 million compared to $1.4 million for the second quarter of 2016. Increased operating netbacks, including gains [Read more]
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