Berkshire Hathaway Inc's re-investment in Suncor Energy Inc highlights the benefits of being an integrated oil company and could revive investor interest in the languishing Canadian energy sector, fund managers said. The move is also seen by some as a wager the energy sector could benefit from a change in the guard in Canada's oil-rich Alberta province, which has an election this year. Berkshire's new 0.7 percent stake in Suncor, valued at $488 million at current prices, is already worth [Read more]
Headlines
Crude-by-rail shipments set new record in December despite lower price discounts
CALGARY - The National Energy Board says crude-by-rail exports from Canada reached a record high in December. Canada exported nearly 354,000 barrels per day of oil, up seven per cent from November's total of 330,400 bpd and the 152,000 bpd moved in December 2017. On Tuesday, Alberta Premier Rachel Notley announced the province will invest $3.7 billion to move up to 120,000 barrels of oil per day by rail by 2020 under deals with Canada's two major railways. Initial daily shipments of [Read more]
U.S.-based Devon Energy says it intends to exit Canadian oilsands sector
CALGARY - Another foreign oil company says it's getting out of the Canadian oilsands. Oklahoma City-based Devon Energy Corp. says it will pursue the "separation" of its Canadian assets from its core business, a move that could include an outright sale or creation of a new company to own and operate them. Devon owns the Jackfish steam-driven oilsands complex, with a capacity of 105,000 barrels per day of bitumen, as well as conventional heavy oil wells near Lloydminster, Alta., [Read more]
Pieridae Energy Limited Announces Fully-Subscribed Brokered Private Placement
CALGARY, Alberta, Feb. 20, 2019 (GLOBE NEWSWIRE) -- Pieridae Energy Limited (“Pieridae” or the “Company”) (TSXV: PEA) is pleased to announce that it has been advised by the syndicate of investment dealers co-led by KES 7 Capital Inc. and National Bank Financial Inc. and including Laurentian Bank Securities Inc. (collectively, the “Agents”) that the previously announced brokered private placement of up to 7,500,000 common shares at a price of $2.00 per share (the “Offering Price”) for gross [Read more]
Harvest Operations Corp. has retained CB Securities Inc. as its exclusive advisor for the sale of the assets presented in this Offering
Total Offering Highlights: 6,200 BOE/day available in 17 properties $17 million of annualized 2018 cash flow Considerable upside identified as well as opportunities for production and operating cost improvement These properties are not core to Harvest, so have not attracted either capital or human resources Additional detailed information can be found on our website at www.cbsecurities.com/harvest Interested parties wishing to participate in this Offering are requested to [Read more]
XI Technologies: Can corporate ARO affect your liability insurance premiums?
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. This week’s article is by XI’s QA and Support Specialist, Kathy, who also happens to hold a Certified Insurance Professional designation. If you'd like Wednesday Word to the Wise delivered directly to your inbox, subscribe here. As discussed in a recent XI Blog, many sources within our industry are telling us that [Read more]
Bill C-69: Alberta Independent Senator Honourable Doug Black to discuss implications, frontline progress and hold Q&A session with Calgarians
Introduced to the House of Commons in February 2018, Bill C-69 will change how Canadian natural resource projects are assessed. The Bill is currently before the Senate. In his speech to his fellow Senate members, The Honourable Doug Black has outlined that the World Bank’s ease of doing business index ranks Canada 34 out of 35 among the OECD countries. Also, in drafting Bill C-69 significant recommendations of the NEB modernization panel were completely ignored. Prior to the introduction of this [Read more]
NDP candidates push for stronger climate action as Singh supports LNG Canada
BURNABY, B.C. - Federal NDP Leader Jagmeet Singh is facing calls from within the party for a stronger stance on climate change as he defends his support of the $40-billion LNG Canada project in northern British Columbia. Svend Robinson, the New Democrat candidate in Burnaby North-Seymour in the general election, opposes any new oil and gas infrastructure. Julia Sanchez, running for the party in a byelection in Outremont in Montreal, disapproves of the use of public funds for such [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 Feb. 19 Field Operator Roska DBO Fort St. John Feb. 17 Legal Counsel, Supply Chain Management Law TransCanada Calgary Feb. 15 May 2019 - Field-based Summer [Read more]
NEB rejects call to expand scope of Trans Mountain pipeline expansion review
CALGARY - The National Energy Board is rejecting a call made by an environmental group last month to greatly expand the scope of its reconsideration of the Trans Mountain pipeline expansion. Stand.earth filed a motion to the federal regulator on Jan. 21 demanding it add consideration of the project's upstream and downstream greenhouse gas emissions to its review of project-related marine shipping issues. It asked the board to apply the same standard to the project as it did with the Energy [Read more]