CALGARY - TC Energy Corp. says it has proactively halted construction on a 20-km stretch of its Coastal GasLink project over concerns about erosion and sediment control. The Calgary-based pipeline company says the affected section of pipeline is located near the Little Anzac River north of Prince George, B.C. TC Energy says the region has been affected by challenging spring melt conditions caused by an abundance of snow this winter, a quick spike in temperatures, and heavy rainfall. The [Read more]
Headlines
Canada Energy Partners announces signing of participation agreement with Wandoo Energy LLC for the development of the Kuester-Ochoa project and concurrent unit financing of $2M
VANCOUVER, BC - Canada Energy Partners Inc. (NEX: CE.H) (the "Corporation" or "Canada Energy") announces that the Corporation has determined that a lower capital cost acquisition opportunity will satisfy the current capital market appetite in the junior energy markets. Accordingly, the Corporation has entered into a Participation Agreement with Wandoo Energy LLC, a Texas based oil & gas company. The Corporation's capital obligations under the Participation Agreement are approximately [Read more]
EIA sees US oil output rising 5% in 2023, cuts price forecasts
The Energy Information Administration on Tuesday forecast U.S. crude production will rise about 5% in 2023, while fuel demand will increase 1%, and cut its estimates for Brent and U.S. crude prices. Crude production will rise 5.1% to 12.53 million barrels per day (bpd) in 2023 and 1.3% to 12.69 million bpd in 2024, the EIA said in its Short Term Energy Outlook (STEO). Total petroleum consumption is due to rise nearly 1% to 20.5 million bpd in 2023, and 1.4% to 20.8 million bpd in 2024, the [Read more]
U.S. natgas output to hit record high in 2023, demand to fall
U.S. natural gas production will rise to a record high in 2023, while demand will fall, the U.S. Energy Information Administration (EIA) said in its Short Term Energy Outlook (STEO) on Tuesday. EIA projected dry gas production will rise to 101.09 billion cubic feet per day (bcfd) in 2023 and 101.24 bcfd in 2024 from a record 98.13 bcfd in 2022. The agency also projected domestic gas consumption would fall to 87.54 bcfd in 2023 and 86.05 bcfd in 2024 from a record 88.53 bcfd in 2022. If [Read more]
New Suncor CEO Kruger focused on cost-cutting, will ‘play to win’
CALGARY - The new top boss at Suncor Energy Inc. says he has a sharp focus on cost-cutting as he embarks on the task of improving performance at the oilsands giant. Rich Kruger, who took over as Suncor's new CEO on April 3, pledged Tuesday that the company will become a "simpler and more focused organization" under his leadership. On a conference call with analysts to discuss the company's first-quarter financial results, he promised to be candid, transparent, and operate with a "sense of [Read more]
Asta Energy Ltd.: Thermal Oil Property Divestiture – Kerrobert, Saskatchewan
Sayer Energy Advisors has been engaged to assist Asta Energy Ltd. (“Asta” or the “Company”) with the sale of its thermal oil interests located in the Kerrobert area of Saskatchewan (the “Property”). The Property consists of a 100% working interest in approximately 15 LSDs over two sections of land which was leased for petroleum and natural gas rights in the Mannville Group. The Property is prospective for thermal oil development in the Waseca Formation of the Upper Mannville [Read more]
Leak Detection and Measurement Technologies for Methane Emissions across Diverse Operating Conditions
It has become imperative for the oil and gas industry to develop new ways to identify, measure, monitor and eliminate methane emissions across their operations and show leadership in responsible energy production. Reducing methane emissions is one of the fastest, most cost-effective things oil and gas operators can do to meet overall GHG reduction targets, and Canada has committed to at least a 75 per cent methane reduction from the oil and gas sector by 2030. But with a with a wide range [Read more]
Keyera Corp. announces 2023 first quarter results
CALGARY, AB, May 9, 2023 /CNW/ - Keyera Corp. (TSX: KEY) ("Keyera") announced its 2023 first quarter financial results today, the highlights of which are included in this news release. To view the Management's Discussion and Analysis (the "MD&A") and financial statements, visit either Keyera's website or Keyera's filings on SEDAR at www.sedar.com. "Keyera had a very strong start to the year, delivering record results in our fee-for-service business segments and reaching a major [Read more]
ConocoPhillips announces cash tender offer for up to $750 million of debt securities
HOUSTON - ConocoPhillips (NYSE: COP) (“COP”) announced today that ConocoPhillips and its wholly-owned subsidiary, ConocoPhillips Company (“CPCo”), have commenced a cash tender offer (the “Tender Offer”) to purchase outstanding notes listed in the table below (collectively, the “Notes” and each a “Series” of Notes) having an aggregate purchase price (excluding accrued interest) of up to $750.0 million (the “Maximum Aggregate Purchase Price”), in the order of priority shown in the table [Read more]
US natgas futures up 2% on daily output decline, Canadian wildfires
U.S. natural gas futures rose about 2% to a fresh one-week high on Tuesday on a decline in U.S. daily output and a drop in gas exports from Canada as wildfires shut in some oil and associated gas production. Prices climbed despite forecasts for milder weather and less U.S. demand over the next two weeks than previously expected. Front-month gas futures for June delivery on the New York Mercantile Exchange were up 4.1 cents, or 1.8%, to $2.279 per million British thermal units at 9:01 a.m. [Read more]