TULSA, Okla., Jan. 4, 2018 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) today announced an underwritten public offering of 19 million shares of its common stock, subject to market and other conditions. ONEOK expects to grant to the underwriters a 30-day over-allotment option to purchase up to 2.85 million additional shares. ONEOK expects to use the net proceeds from the offering to fund capital expenditures, including a portion of its recently announced natural gas liquids growth projects, to [Read more]
Archives for January 2018
New U.S. refining demand expected to spur Canadian heavy oil demand in 2018
CALGARY - A new forecast from Deloitte says demand for Canadian heavy oil will likely rise this year as shrinking volumes from Mexico and Venezuela open new opportunities to sell to U.S. refineries. The accounting and consulting firm says the demand surge will work to overcome recently steeper price discounts received by Canadian producers due to pipeline outages that have stretched tight export transportation capacity. The report forecasts the benchmark West Texas Intermediate [Read more]
Chevron Fourth Quarter 2017 Earnings Conference Call
San Ramon, CA, Jan. 04, 2018 (GLOBE NEWSWIRE) -- Chevron Corporation (NYSE: CVX), one of the world’s leading energy companies, will hold its quarterly earnings conference call on Friday, February 2, 2018, at 11:00 a.m. ET (8:00 a.m. PT). Conference Call Information:Date: Friday, February 2, 2018Time: 11:00 a.m. ET / 8:00 a.m. PTDial-in # (Listen-only mode): 706-634-0892 / 877-604-2078Conference ID #: 7594049 To access the live webcast, visit www.chevron.com. The meeting [Read more]
Fort Hills partners settle funding dispute, Total reduces stake in project
CALGARY - Suncor Energy Inc. and Teck Resources Ltd. are getting a bargain price for bigger stakes in the Fort Hills oilsands mine they are buying from partner Total S.A., analysts say. The two Canadian companies announced Wednesday they will pay an additional $420 million to take over a three per cent stake in the project from the French oil giant. Suncor (TSX:SU), the operator, is paying about $300 million to increase ownership to 53.06 per cent and Teck (TSX:TECK.B) is paying [Read more]
Abolish fossil fuels? Any volunteers for this weekend? Didn’t think so
It doesn’t take many days in one’s life of consumerism to recognize that “vital information” provided to you by someone selling something is to be taken with a grain of salt, to put it mildly. A sexy model draped over the hood of a car is not indicative of the life you will lead if you buy those wheels, unless that sort of thing happens to you regularly at present. Information from special interest groups who have vested interests, careers and/or funding to protect therefore need a little [Read more]
GLJ Petroleum Consultants’ January 1, 2018 Price Forecast
With a new year comes a new outlook for oil and gas prices. Though 2017 was a year of continued belt tightening for many producers in sight of lower for longer commodities prices, 2018 brings with it a glimmer of hope for a more stable pricing environment. Recent rate increases by the US federal reserve and expected continued rate hikes by the Bank of Canada appear to point toward what can be expected to be a more stable era in the North American economy. Though volatility is always present due [Read more]
Quest for new oil discoveries still on back burner
Despite the strongest start for oil prices in four years, the world's top oil companies are hesitating to accelerate the search for new resources as a determination to retain capital discipline trumps the hope of making bonanza discoveries. Exxon Mobil , Royal Dutch Shell , Total and their peers are set to cut spending on oil and gas exploration for a fifth year in a row in 2018, according to consultancy Wood Mackenzie (WoodMac), despite a growing urgency to replenish reserves after years of [Read more]
Emerald Bay Announces Closing of Second/Final Tranche of Private Placement
Calgary, Alberta (FSCwire) - Emerald Bay Energy Inc. (TSX Venture: EBY) (the "Corporation" or "Emerald Bay") today reported that the Corporation has closed the final tranche of its previously announced private placement. Pursuant to this fully subscribed closing of the private placement, an aggregate 10,000,000 units ("Units") were issued to four (4) subscribers (of which 2,000,000 Units were acquired by an officer of the Corporation and 6,500,000 were acquired by [Read more]
Suncor, Teck buy part of Total stake in Canada oil sands mine
Suncor Energy Inc., Canada's second-largest energy producer, said on Wednesday it and Teck Resources Ltd have taken higher stakes in the Fort Hills oilsands mine from partner Total SA, resolving a dispute over building costs. Under terms of the deal, Suncor and Teck will fund more of the C$17 billion project's capital cost - C$300 million and C$120 million more respectively. Suncor's share of the project will be 53.06 percent, compared to 20.89 percent for Teck and 26.05 percent for [Read more]
Suncor Energy closes 2017 with strong performance
CALGARY, ALBERTA--(Marketwired - Jan. 3, 2018) - Suncor today provided a business update for the fourth quarter of 2017, highlighting upstream production of 736,000 barrels of oil equivalent per day (boe/d), which is in line with record production from the third quarter of 2017. Oil sands operations produced approximately 447,000 barrels per day (bbls/d) including 6,000 bbls/d from Fort Hills. Syncrude produced 325,000 bbls/d for the quarter, 174,000 bbls/d net to Suncor. Production from other [Read more]