Last week, Alberta Energy announced further details regarding the MRF2 and introduced two new strategic royalty programs meant to encourage E&P companies to develop emerging high-risk plays and enhance production from existing pools. They also announced the option of an early opt-in2 for the MRF for E&P companies based on certain application criteria as a means to get more familiar with the program prior to launch in 2017. Significance of Changes Royalties are a key component in [Read more]
Alberta announces oilsands climate advisory panel, co-chaired by anti-oilsands activist
The Alberta government has named the members of a panel to advise it on how the oilsands can meet its greenhouse gas reduction goals. The Oilsands Advisory Group will have representatives from industry, First Nations and environmental groups and have three co-chairs; one of whom is an anti-oilsands activist. Tzeporah Berman, a longtime environmental activist and professor of environmental studies at York University has a history of attending anti-oil rallies across Canada. She was a [Read more]
BOE Report Podcast Episode 9
On this episode, the BOE Report team talks about the AER's recent response to criticism of the LMR policy changes, Alberta's two newly introduced royalty programs, and western Canada missing the boat on LNG development, and they spoke with Chris Zavlanos about his unique and easy-to-use RiggerTalk website and app. Get episode on Google Play | iTunes | RSS On the Show Terry Etam Josh Groberman Chris Zavlanos Topics AER response to criticism of new LMR policy Alberta's two [Read more]
Nexen shuts down Long Lake Upgrader, no set date for restart
Nexen Energy has shelved plans to restart a facility at an Alberta oilsands operation that was damaged in a fatal explosion earlier this year. The company idled an upgrader at the Long Lake site after an explosion in January killed two people. After a review, Nexen has concluded that a short-term repair for the upgrader is not feasible and therefore it is putting it into winter preservation mode with no date set for a restart. Nexen says the explosion was the result of work being [Read more]
Alberta introduces two new royalty programs
CALGARY - The Alberta government is introducing two new royalty programs for the oil and gas industry. The two programs are the Emerging Resources Program and the Enhanced Hydrocarbon Recovery Program. The programs are set to take effect January 1, 2017 along with the new Royalty Framework. Read below the news release from the Alberta Government: Royalty programs to help boost production and create jobs Two new royalty programs will encourage oil and gas producers to explore new [Read more]
Oil drops more than 4% on disappointing weekly crude draw
Oil prices fell nearly 5 percent on Thursday, reversing early gains after the U.S. government reported a weekly crude draw that disappointed investors expecting larger declines. Brent crude oil futures fell $2.28, or 4.7 percent, at $46.52 per barrel at 1:06 p.m. ET (1706 GMT) on Thursday. It rose 1.6 percent earlier to a session high of $49.59. WTI crude was trading at $45.16 per barrel, down $2.27, or 4.8 percent. Oil prices have risen more than 70 percent from 12-year lows of around [Read more]
Interview with Cody Battershill
BOE Report publisher, Josh Groberman, spoke with Cody Battershill, founder of Canada Action, Oil Sands Action, and Pipeline Action. The two discussed Canada's record as an oil and gas producer, the history of Canada Action, the fight for a more positive view of the Canadian oil industry, and what people can do to help getting badly needed pipelines approved. During the interview, Cody mentioned upcoming roundtable public discussions for Trans Mountain. Click here for a list of days and [Read more]
How the University of Tulsa’s Master of Energy Business Helped a Landman Pivot His Career
For Ben Tatlow, transitioning into his new job at a major oil and gas company has been a big step. Up until this year, the entirety of Ben’s eleven-year career in the oil and gas industry was served as a petroleum landman. His new job? Senior Business Development Representative within one of Canada's largest integrated petroleum companies. Not only is this a different role, but also a different part of the energy industry. “Taking the University of Tulsa’s online Master of Energy Business [Read more]
Here’s how Paramount Resource’s disposition compares to other mega-Montney deals
Paramount Resources announced disposition of Montney assets to Seven Generations Energy for $1.9 billion makes it the largest Montney asset sale this year and one of the largest ever. The transaction metrics are fairly attractive for Paramount Rescources when comparing to other large-scale ($100 million+) Montney transactions in the past 3 years on a $/BOE/D metric: The $63,333/BOE/D is quite impressive considering the severe price drop in the past 18 months. As mentioned earlier in [Read more]
Seeking Answers: Alberta’s Oil & Gas Crisis Explored
UpTech and MidTech Oil & Gas Summits Partner with University of Calgary's Haskayne School of Business Executive Education in search of solutions The UpTech and MidTech oil and gas summits have announced a partnership with the University of Calgary's Haskayne School of Business Executive Education to provide a series of world-class educational sessions at this year's conference. "Through their research, collaboration and years of delivering leading-edge programming, the Haskayne School [Read more]
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