U.S. natural gas futures edged higher on Wednesday after plunging more than 4% in the prior session as forecasts for less production and slightly higher cooling demand over the next two weeks offset a decline in expected liquefied natural gas (LNG) exports. Front-month gas futures for August delivery on the New York Mercantile Exchange were up 3.1 cents, or 1.3%, to $2.337 per million British thermal units (mmBtu) at 8:45 a.m. EDT (1245 GMT). On Tuesday, the market fell by its biggest daily [Read more]
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Point Loma Resources Announces Entering into an Agreement to Market its Wizard Lake Rex Oil Property
CALGARY, AB / ACCESSWIRE / July 17, 2019 / Point Loma Resources Ltd. (TSX VENTURE: PLX) (the "Corporation" or “Point Loma”) is pleased to announce the retention of Mackie Research Capital Corporation (“MRCC”) to market the Corporation’s Wizard Lake Rex oil property in central Alberta. Highlights: MRCC and Point Loma have entered into an engagement agreement whereby Mackie will canvas the market for parties potentially interested in a transaction to acquire the Corporation’s interest in [Read more]
Webinar: Increase margins with minor operational changes
Billions of dollars in public and private capital projects are either planned or currently under construction, and businesses operating in the oil and gas sector need to prepare themselves to capitalize on opportunities. Those set to action operationally will make initial gains vis-a-vis their competitors, but it’s the businesses that marry their on-the-ground operational sophistication with a streamlined back office support process that will ultimately outlast and outperform their industry [Read more]
XI Technologies: Adopting a Well Data Management Approach for Liabilities
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. Following the Supreme Court of Canada Redwater decision in January in favour of the AER and Orphan Well Association, producers must change the way they manage liability regarding end-of-life obligations. These changes are necessary [Read more]
Journey Energy Inc. Provides Update on Encouraging Results From First Three Duvernay Wells
CALGARY, July 16, 2019 /CNW/ - Journey Energy Inc. (JOY – TSX) ("Journey" or the "Company") is pleased to provide an update on our Joint Venture with Kiwetinohk Resources Corp. ("Kiwetinohk") in the East Duvernay, including the encouraging test rates achieved by the first three wells. East Duvernay Joint Venture Operational Update Since entering into the Joint Venture arrangement on August 29th, 2018, Kiwetinohk and Journey have been actively advancing the development of the East Duvernay [Read more]
Heavy discount edges wider as monthly trade cycle ends
The differential on Canadian heavy crude widened slightly on Tuesday as the monthly trading window drew to a close: Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, settled at $9.50 per barrel below West Texas Intermediate (WTI) oil, according to Net Energy Exchange. On Monday, WCS for August delivery settled at $9.15 a barrel below WTI crude futures. The benchmark heavy discount remained in sight of the narrowest differential in three months that [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 Jul. 15 Exploitation Engineer Tundra Oil & Gas Calgary Jul. 15 Pipefitter / Welder Technician Imperial Oil Sarnia Jul. 15 Boilermaker / Welder [Read more]
Connacher Oil and Gas Limited Announces Creditor and Court Approval of Restructuring and Extension of CCAA Stay of Proceedings
CALGARY, July 16, 2019 /CNW/ - Connacher Oil and Gas Limited ("Connacher" or the "Company") is pleased to announce the approval of the Company's Plan of Compromise and Arrangement, as amended and restated in accordance with its terms (the "Plan"), by the required majorities of affected creditors and the Court of Queen's Bench of Alberta (the "Court") in the Company's proceedings under the Companies' Creditors Arrangement Act (the "CCAA"). As previously announced, the Plan provides that, subject [Read more]
North Dakota natgas output slips from monthly record high, flaring eases
Natural gas production in North Dakota slipped to 2.822 billion cubic feet per day (bcfd) in May from a record high of 2.833 bcfd in April, while the amount of gas flared during the month declined, according to the North Dakota Industrial Commission: Producers in the state burned off or flared 0.532 bcfd in May, down a bit from April. They captured a record high 2.290 bcfd in May, up from the prior all-time high of 2.288 bcfd in April, the commission said in a report on Tuesday. One [Read more]
FortisBC signs Canada’s first long-term contract to supply LNG for China
FortisBC has signed Canada's first long-term supply agreement to produce liquefied natural gas for export to China, the company said in a statement on Tuesday.Under the two-year agreement with China's Top Speed Energy Corp, 53,000 tonnes of LNG will be shipped from the Tilbury facility in British Columbia to China by summer 2021, said Douglas Stout, vice president of market development and external relations for privately-owned FortisBC.The agreement is the first of its kind to secure [Read more]