Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSXV: SOIL) (FSE: SMK) is pleased to provide an operational update highlighting results from the Company’s second-half 2019 drilling program, which exceeded expectations, as well as information regarding Saturn’s participation in upcoming investor-focused European events and the issuance of stock options. Viking Drilling Results The Company is pleased to announce results from its second-half 2019 drilling program, with strong volumes [Read more]
Headlines
Granite Oil Corp. Provides Operational Update and Preliminary Third Quarter Results
GRANITE OIL CORP. (“Granite” or the “Company”) (TSX:GXO)(OTCQX:GXOCF) is pleased to report the preliminary results for the third-quarter and an operational update. During the recently completed third quarter, the Company made significant progress on debt repayment and completed an initial test of a recompletion program which has the potential to have material, positive impacts on go-forward development of the Company’s Bakken oil pool. Preliminary Third Quarter Results Granite continued its [Read more]
Black Swan Energy Celebrates Opening of Nig Creek Gas Processing Facility
Black Swan Energy Ltd. ("Black Swan") is pleased to announce the official opening of its Nig Creek Gas Processing Facility located in northeast British Columbia. Today the company hosted a celebration at the plant which was attended by the Chief of the Blueberry River First Nations, Marvin Yahey, Mayor of Fort St. John and 2019 Canadian Energy Person of the Year, Lori Ackerman and Liberal MLA for Peace River North, Dan Davies. Following a tour of the state-of-the-art facility Elder May Apsassin [Read more]
Oil prices fall on signs of large U.S. stock build
Oil prices eased on Thursday after industry data showed a larger-than-expected build-up in stocks in the United States, although losses were limited by comments by U.S. Treasury Secretary Steven Mnuchin on a U.S.-China trade deal. U.S. crude oil futures were down 48 cents, or 0.9%, at $52.88 after earlier dropping more than 1% to a session low of $52.76 earlier. Global benchmark Brent crude oil futures was down by 47 cents, or 0.8%, at $58.95 a barrel. U.S. crude inventories soared by [Read more]
TC Energy declares force majeure on Keystone oil pipeline deliveries
TC Energy Corp has declared force majeure on shipments on its 590,000-barrel-per-day (bpd) Keystone oil pipeline after a snow storm hit Manitoba over the weekend, disrupting operations, sources familiar with the matter said on Wednesday. Force majeure is a declaration that unforeseeable circumstances prevented a party from fulfilling a contract. The storm over the weekend knocked out power to about 3-4 pump stations in Manitoba, affecting pipeline flows, three sources said. TC Energy [Read more]
Heavy discount narrows as trade cycle finishes
The discount on Canadian heavy crude narrowed versus U.S. benchmark West Texas Intermediate (WTI) crude on Wednesday as the monthly trade cycle wrapped up. Western Canada Select (WCS) heavy blend crude for November delivery in Hardisty, Alberta, traded at $16.15 per barrel below WTI, according to Net Energy Exchange. On Tuesday November WCS settled at $16.35 a barrel below WTI. Light synthetic crude from the oil sands strengthened to trade at $1.60 per barrel over WTI, having settled at $1 [Read more]
Gas association warns switch to electricity could raise costs by $1.4 trillion
The Canadian Gas Association says building renewable electricity capacity to replace just half of Canada's current fossil fuel-generated energy could increase national costs by as much as $1.4 trillion over the next 30 years. In a report, it contends that growing electricity's contribution to Canada's energy mix from its current 19 per cent to about 60 per cent will require an expansion from 141 gigawatts today to between 278 and 422 GW of renewable wind, solar and storage capacity by [Read more]
Canada’s Co-op Refinery preparing for possible strike action
The 135,000 barrel per day Co-op Refinery Complex in Regina, Saskatchewan, is preparing for possible strike action after the local workers union declared an impasse in negotiations over pensions. Federated Co-operatives Limited began constructing a work camp on Tuesday to house temporary contract workers in case of a strike, Gil Le Dressay, vice president refinery operations, said in a statement. Refinery management and workers are in a dispute over pension contributions. Unifor 594, the [Read more]
Rangeland Midstream Canada Begins Construction of Marten Hills Pipeline System
Rangeland Midstream Canada, Ltd. (”Rangeland Canada”), a wholly owned subsidiary of Rangeland Energy III LLC, today announced it has commenced the construction of its Marten Hills Pipeline System. The system consists of new crude oil and condensate pipelines located in the Marten Hills region of north central Alberta. The Marten Hills Pipeline System will extend approximately 85 kilometres (52.8 miles), terminating at an interconnect with Plains Midstream Canada’s Rainbow Pipeline System, which [Read more]
Quenching Thirst in the Duvernay
The Duvernay is a Thirst Trap About 23 million cubic meters (m3) of water was used for fraccing in Alberta in 2017 (AER, 2018), and nearly 99% of that volume was non-saline. Within the Duvernay fairway (figure 1), the Spirit River has been the most drilled zone by well count, followed by the Cardium and the Duvernay. Though it has fewer wells, the Duvernay far exceeds the Spirit River and Cardium in terms of total volume of water pumped (figure 2). In 2017, 8.6 million m3 was pumped into the [Read more]