CALGARY - TC Energy Corp. has signed a deal to sell U.S. midstream assets held by its subsidiary, Columbia Midstream Group, to UGI Energy Services LLC for $1.7 billion. Columbia Midstream Group owns four natural gas gathering systems and an interest in a company with gathering, processing and liquids assets in the Appalachian Basin. TC Energy Russ Girling says the sale is part of the company's efforts to prudently fund its portfolio of natural gas pipeline, liquids pipelines and [Read more]
Headlines
Celebrating Federal Environment Minister McKenna’s contributions to Canada
“Hello, this is 9-1-1, how may we help you?” “I’d like to report an emergency.” “Can you tell me what’s happened and where? Are there any injuries?” “Certainly. What’s happened is that hundreds of years ago people started burning coal, which made things better, so they burned more, and then there were a lot more people, then they discovered oil, which caused a lot of development and then there were a lot more people, and now they are using so much of it that the world might warm up 2 [Read more]
Osum Announces Extension of Debt Maturity and Surpasses Production Target Ahead of Schedule
CALGARY, July 3, 2019 /CNW/ - Osum Oil Sands Corp. ("Osum" or the "Company"), a private oil sands company, announced today that it has completed an amendment with lenders to extend the maturity date of 90.6%, or approximately US$172 million, of its existing US$190 million senior secured first lien term loan by two years to July 31, 2022. The interest rate on the extended portion of the loan has been increased and will vary between LIBOR plus 7.5% and 9.5% per annum depending on the Company's [Read more]
Baker Hughes, a GE company Announces June 2019 Rig Counts
HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for June 2019 was 1,138, up 12 from the 1,126 counted in May 2019, and up 179 from the 959 counted in June 2018. The international offshore rig count for June 2019 was 246, up 6 from the 240 counted in May 2019, and up 51 from the 195 counted in June 2018. The average U.S. rig count for June 2019 was 969, down 17 from the 986 counted in May 2019, and down [Read more]
XI Technologies: Alberta’s Inactive Well Compliance Program is having the desired effect, decreasing non-compliant well counts by nearly 40 per cent
Each week, XI Technologies scans their unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you'd like to receive our Wednesday Word to the Wise in your inbox, subscribe here. In its first four years, the Inactive Well Compliance Program (IWCP) under AER Directive 013, decreased the number of non-compliant inactive wells in the province from 25,808 on April 1, 2015, to 15,628 as of yesterday, July 2, [Read more]
TC Energy enters agreement to sell Columbia Midstream assets for US$1.275 billion
CALGARY, Alberta, July 02, 2019 (GLOBE NEWSWIRE) -- News Release -- TC Energy Corporation (TSX:TRP) (NYSE:TRP) (TC Energy) announced today that it has entered into an agreement to sell its U.S. midstream assets held by its subsidiary, Columbia Midstream Group, to UGI Energy Services, LLC, a subsidiary of UGI Corporation (NYSE: UGI), for approximately US$1.275 billion (Cdn$1.7 billion). The transaction is expected to close in the third quarter of 2019 subject to closing adjustments and [Read more]
Recycled extremism threatens greater greenhouse gas emissions
The environmental activists pushed out a national shock and awe campaign this week to try overwhelm people with a silly assertion that natural gas isn’t as clean as coal. A well publicized report by “The Global Energy Monitor” had Canadian Press, CBC and the Globe and Mail trying to tell Canadians that the world's climate will suffer if natural gas displaces coal. I have to give them credit for recycling at least. This is the third time in the last seven years that environmental [Read more]
New Oil and Gas Jobs From BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Jun. 28 Cybersecurity Relationship Specialist TC Energy Calgary Jun. 28 Director of Production Brunel Toronto Jun. 28 Store Manager Brunel Calgary Jun. [Read more]
Heavy oil differential widens on first day of trade cycle
Canada's heavy crude differential to U.S. futures widened on Tuesday as the monthly Canadian crude market trade cycle began:* Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, last traded at $13.60 per barrel below West Texas Intermediate (WTI) oil, according to Net Energy Exchange. On Friday, WCS for August delivery settled at $13.30 a barrel below WTI crude futures.* Tuesday was the first day of the monthly trading window when liquidity picks up. It [Read more]
Gibson Energy Announces Closing of Sale of Canadian Truck Transportation
CALGARY, Alberta, July 02, 2019 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (“Gibson” or the “Company”), (TSX: GEI), announced today it has closed the sale of its Canadian Truck Transportation businesses to Trimac Transportation (“Trimac”) for gross proceeds of approximately $70 million prior to customary closing adjustments, with the potential for additional proceeds depending on the performance of the business over the next several years. As part of the sale of its Canadian Truck Transportation [Read more]