Calgary-based oil and gas producer Perpetual Energy Inc. says it has cut 25 per cent of its workforce in an effort to rein in costs in response to lower commodity prices. The gas-weighted Calgary company says it is also cutting compensation for its remaining employees and has lowered its 2019 cash flow expectations. It didn't say how many jobs were lost. The job cuts come three weeks after much larger Calgary rival Husky Energy Inc. announced it had laid off an undisclosed number of staff [Read more]
Encana reveals Denver will be its new headquarters after leaving Calgary
CALGARY - Encana Corp. says its new head office will be in Denver following a reorganization that will include changing its name to Ovintiv. The Calgary-based company didn't say which city would be its home base when it announced last week it would establish a "corporate domicile" in the United States to replace its longstanding home in Calgary. The Denver decision, revealed in a corporate filing on Thursday, was expected because CEO Doug Suttles, a Texan, lives in Denver and it is the [Read more]
Manitoba premier to talk pipelines, flood protection and more with prime minister
WINNIPEG - Manitoba Premier Brian Pallister says he hopes to discuss pipelines, flood protection and other issues during a one-hour meeting Friday with Prime Minister Justin Trudeau. Pallister says Trudeau could help unify the country by ensuring the Trans Mountain pipeline expansion gets built to allow Alberta oil to get coastal access to overseas markets. The premier says suicide rates among young men in Alberta due to economic uncertainty are through the roof and their concerns cannot [Read more]
Failure of Houston Oil & Gas expected to create up to 1,400 orphan wells
CALGARY - Alberta's Orphan Well Association is warning that the receivership of junior producer Houston Oil & Gas Ltd. could add more than 1,400 wells to its inventory of orphaned petroleum assets. The organization that steps in when operators of oil and gas facilities can't or won't meet their obligations says the total estimated abandonment and reclamation bill from Houston's assets is $81.5 million. In an affidavit, OWA executive director Lars De Pauw says the association is likely [Read more]
Alberta bitumen refinery faces further delays after testing of gasifier unit
CALGARY - A new refinery northeast of Edmonton is facing more delays and won't begin processing oilsands bitumen as designed until early next year. Construction was completed on the $9.5-billion Sturgeon Refinery in the fall of 2017 and it began producing diesel shortly thereafter from synthetic crude that had already been partly upgraded at an Alberta oilsands mine. It was to begin processing oilsands bitumen in early 2018 but has been stymied by issues with equipment including its [Read more]
First Nation, environmental groups seek leave to appeal Trans Mountain ruling
VANCOUVER - A British Columbia First Nation and three environmental groups hope to appeal a Federal Court of Appeal decision that limited their ability to challenge the Trans Mountain pipeline expansion in court. The Tsleil-Waututh Nation, Ecojustice, Raincoast Conservation Foundation and Living Oceans Society announced Tuesday they are seeking leave to appeal to the Supreme Court of Canada. The Federal Court of Appeal decided in September that it would allow six First Nations, including [Read more]
Ovintiv name a ‘blank slate’ as Encana plans move to United States
The name Encana Corp. immediately brings to mind two things: energy and Canada. Ovintiv, with which the oil and gas producer plans to rechristen itself once it moves its headquarters to the United States next year, offers no hint of what the company does or where it's from. Branding experts say that's likely to be the point. "It's kind of a blank slate, which appears to be what they wanted to go for," said Darren Dahl, a marketing professor at the University of British Columbia. Alan [Read more]
Saskatchewan granted intervener status in First Nations TMX project appeal
The Saskatchewan government says it has been granted leave to intervene in an appeal over construction of the Trans Mountain pipeline expansion. The province says it is intervening in support of the federal government by arguing that the expansion project was properly approved. The Federal Court of Appeal in British Columbia ruled in September that it would hear six challenges focusing on Indigenous consultation. Ottawa twice approved the plan, but the Federal Court of Appeal tore up [Read more]
Vermilion Energy reports Q3 loss, trims capital spending and production guidance
Vermilion Energy Inc. reported a loss of $10.2 million in its latest quarter as it trimmed its capital spending plans for the year and reduced its production expectations. The Calgary-based company says the loss amounted to seven cents per share for the quarter ended Sept. 30 compared with a loss of $15.1 million or 10 cents per share a year ago. Petroleum and natural gas sales fell to $391.9 million compared with $508.4 million in the same quarter last year, while fund flows from [Read more]
Keystone pipeline shut down for investigation of potential N.D. oil leak
TC Energy Corp. says it has shut down the Keystone pipeline while it investigates a potential oil spill in North Dakota. In a brief statement on Wednesday, the Calgary-based company says it is investigating a possible incident after detecting a drop in pressure near its facilities at Edinberg, N.D., at about 9:20 p.m. MT on Tuesday. It says Keystone customers have been notified the pipeline will remain shut down while it investigates the incident. According to The Associated Press, some [Read more]
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