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BOE Report Staff

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Deputy Alberta energy minister named chief executive of new provincial regulator

  CALGARY - Alberta's former deputy minister of energy and environment has been named CEO of the province's new oil and gas regulator. Jim Ellis will handle the day-to-day operations of the revamped energy watchdog, which has a $200-million budget and will employ nearly 1,000 people. Ellis says a big part of his job will be ensuring Alberta has good environmental oversight for Canadian oil and gas sold to international customers. The inability to access the best paying markets - [Read more]

Woah! Former Liberal prime minister intends to let Americans know the benefits of Keystone

  CALGARY - A former Liberal prime minister says he plans to head to Washington, D.C., to speak out in favour of the Keystone XL pipeline. John Turner, who is 83, says he intends to spend time with Canadian Ambassador Gary Doer before meeting with some leaders in both the U.S. Congress and Senate. "I may be introducing him to a few people," said Turner with a chuckle while attending a luncheon speech in Calgary on Monday. "I'd like to meet with the president, No. 1, but I doubt [Read more]

Canada rig count little changed from last week, down from prior year count

[table] [attr style="width: 20%"]`[attr style="width: 35%"]`[attr style="width: 15%"]Oil`[attr style="width: 15%"]Gas`[attr style="width: 15%"]Total [attr rowspan="5" style="background-color: #E0E0E0; text-align: center; vertical-align: middle;"]Canada`This Week`66`56`122 Last Week`65`61`126 Last Year`76`58`134 Week over Week Change`+1`-5`-4 Year over Year Change`-10`-2`-12[/table] [table] [attr style="width: 20%"]`[attr style="width: 35%"]`[attr style="width: 15%"]Oil`[attr [Read more]

TransCanada says Keystone XL likely won’t be operating until second half of 2015

  CALGARY - TransCanada Corp. (TSX:TRP) said Friday its controversial and long-delayed Keystone XL pipeline will likely be in service in the second half of 2015 — months later than its previous estimate as the company continues to await U.S. government approval for the project. TransCanada had been sticking to its late 2014 or early 2015 start up target, though the later in the year a decision is announced, the harder it will be to meet that schedule. It added that the estimated [Read more]

TransCanada Q1 earnings short of analyst estimates, sticks to 2015 as Keystone start-up target

  CALGARY - TransCanada Corp. (TSX:TRP) has reported increased first-quarter profit and revenue but its comparable earnings came in short of analyst estimates. The Calgary-based pipeline and power company's says its comparable earnings were $370 million or 52 cents per share — two cents per share below a consensus estimate but up from $363 million a year earlier. Its net income attributable to shareholders was $446 million, or 63 cents per share, up from 50 cents per share or $352 [Read more]

Ron “The Taxman” Liepert decrees need for Alberta sales tax

  LETHBRIDGE, Alta. - A former Alberta finance minister says it's time to talk about a provincial sales tax. Ron Liepert says having a PST could help level out the peaks and valleys in Alberta's revenue, which he says is tied too closely to oil prices. Speaking in Lethbridge, Liepert said he believes Albertans want to talk about the options. Liepert also suggested it's odd to suggest Albertans don't pay a sales tax because the federal GST has been around for more than 20 [Read more]

Massive Kearl oilsands mine ready to start up any day now, Imperial CEO says

Lauren Krugel, The Canadian Press CALGARY – With Imperial Oil Ltd.’s Kearl oilsands mine ready to start up any day now, CEO Rich Kruger shrugged off concerns about whether the already tight North American market can soak up another 110,000 barrels of crude a day. “Start up is imminent,” Kruger told reporters following the company’s annual general meeting on Thursday. “It’s real soon. We’re right on the cusp of starting up.” Late last year and early this year, the price gap between [Read more]

Natural gas storage builds at expectations

Working gas in storage was 1,734 Bcf as of Friday, April 19, 2013, according to EIA estimates. This represents a net change of +30 Bcf;in-line with analyst estimates of ~+30 Bcf.Stocks were 807 Bcf less than last year at this time and 94 Bcf below the 5-year average of 1,828 Bcf. [table] [attr style="width: 25%"]`[attr style="width: 25%"]April 19`[attr style="width: 25%"]April 12`[attr style="width: [Read more]

Precision Drilling holding steady with dividend payment despite tough market

By The Canadian Press CALGARY - Precision Drilling Corp. (TSX:PD.TO) is maintaining its dividend amid difficult market conditions that have driven down its revenue and profit. The Calgary-based drilling company's net income fell to $93 million or 33 cents per diluted share, down 16 per cent from the first quarter of 2012. Its revenue dropped by seven per cent to $596 million, mainly due to lower North American drilling activity compared with the first quarter of 2012. Nevertheless, [Read more]

Canadian Pacific expects to ramp up crude oil capacity a year early

By Ross Marowits, The Canadian Press Canadian Pacific Railway, after delivering a strong earnings report Wednesday, had more good news for investors, saying it expects to double its deliveries of crude oil 12 months earlier than previously forecast. The Calgary-based railway said Wednesday that it expects to ship 140,000 carloads of crude by the end of 2015. It delivered 53,500 carloads last year and expects to reach a 70,000-carload run rate by the end of 2013. "We have clear line of [Read more]