The month of October proved exceptional for audience engagement and overall user growth for the BOE Report. Since first launching only two and a half years ago, the BOE Report proudly has grown its user base to over 110,000 users. In October, the site reached 110,636 users and 477,659 unique page views, 75 per cent of which came from within Alberta. The BOE Report's userbase is strongly concentrated within oil and gas companies based in Calgary. Over 350 different oil and gas companies read [Read more]
News
New Brunswick, Saskatchewan premiers meet to talk up Energy East pipeline project
REGINA - New Brunswick Premier Brian Gallant continued his western trip talking up the Energy East pipeline in Saskatchewan.Gallant met with Saskatchewan Premier Brad Wall in Regina.They talked about the benefits of the proposed $12-billion TransCanada line that would take oil from Alberta and Saskatchewan across the country to refineries and ports in the East, ending in New Brunswick.Gallant says the project would create thousands of jobs across the country and at the same time diversify [Read more]
Notley sympathetic to energy woes but no short-term lifelines contemplated
CALGARY - Alberta Premier Rachel Notley says she sympathizes with the plight of energy companies and their employees due to low oil prices, but her government isn't in a position to offer any short-term lifelines.The Canadian Association of Petroleum Producers has estimated 36,000 jobs in the oil and gas sectors have been shed so far this year."We know of course that where these jobs disappear that it's very hard for families. It's very hard for communities. It's very hard ... for the people who [Read more]
North Dakota allows energy drillers to leave oil in ground longer in hopes of price rise
BISMARCK, N.D. - Depressed oil prices have helped build an inventory of about 950 drilled but uncompleted wells in North Dakota. Companies are supposed to bring the wells online within a year but North Dakota officials last week decided to give drillers an extra year, hoping for a rebound in crude prices that would provide the state with a better long-term payoff in tax revenue.MORE TIMENorth Dakota's all-Republican Industrial Commission led Gov. Jack Dalrymple last week allowed well owners to [Read more]
NEB says whistleblower concerns over TransCanada pipeline safety resolved
CALGARY - A whistleblower's concerns over TransCanada Corp's (TSX:TRP) pipeline safety practices have been resolved, according to results of a National Energy Board investigation.The federal regulator said Friday that six of the 16 allegations against the company were partially substantiated, but that TransCanada had taken the appropriate steps to fix the problems. The remaining 10 allegations could not be verified.The environment and public safety were not at risk and no enforcement action was [Read more]
Cardinal Energy Ltd. Announces Closing of Light Oil Acquisition
CALGARY, ALBERTA--(Marketwired - Oct. 30, 2015) - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX:CJ) has closed the previously announced light oil acquisition (the "Acquisition") in the greater Mitsue area of Alberta for a total purchase price of approximately $142.5 million. The Company is also pleased to announce that it has entered into an agreement to sell a gas plant and associated infrastructure to a third party for estimated net proceeds to Cardinal of $12.8 million. The sale [Read more]
National Energy Board releases TransCanada PipeLines investigation report
CALGARY, Oct. 30, 2015 /CNW Telbec/ - The National Energy Board (NEB) has released its investigation into 16 allegations of regulatory non-compliance made through the NEB's whistleblower process against TransCanada PipeLines Ltd. (TransCanada). The NEB's investigation concludes: Six of the 16 third-party allegations were partially substantiated and TransCanada has taken all appropriate corrective and preventative actions. Ten allegations could not be verified. Public safety and [Read more]
The geopolitics behind the Saudi-engineered supply glut
Only a congenital optimist would greet Shell's abandonment of its Canadian and Alaskan projects - after sinking a combined $4.6 billion - with anything but dread. When even a supermajor is reporting quarterly losses of $7.4 billion, observers would be in their rights to throw up their hands in frustration and ask when will it end. The problem is indefinite, and WTI remains anchored around $45 per bbl for now, although it may or may not have bottomed out. The supply glut persists. While North [Read more]
Apache Announces North Sea Discoveries With Estimated Net Reserves Of 50 Million To More Than 70 Million Barrels
HOUSTON, Oct. 30, 2015 /PRNewswire/ -- Apache Corporation (NYSE, Nasdaq: APA) today announced significant discoveries on two exploration wells in the Beryl area of the U.K. North Sea. The company also drilled two significant development wells in the Beryl area, from which no reserves have been previously booked. Additionally, Apache announced a large discovery at its Seagull prospect, which lies approximately 50 miles south of the company's Forties Field, the largest oil field in the U.K. [Read more]
Chevron Reports Third Quarter Net Income of $2.0 Billion
SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE:CVX) today reported earnings of $2.0 billion ($1.09 per share – diluted) for third quarter 2015, compared with earnings of $5.6 billion ($2.95 per share – diluted) in the 2014 third quarter. Foreign currency effects increased earnings in the 2015 quarter by $394 million, compared with an increase of $366 million a year earlier. Sales and other operating revenues in third quarter 2015 were $33 billion, compared to $52 billion in the [Read more]