Will Oil Rates in the WSB South Duvernay Oil Play Ramp Up? The Duvernay South Oil play in the Pembina/Bigoray area in the West Shale Basin is in its infancy (figure 1). Resource play development often follows a pattern of increasing rates in the early stages as operators refine completions strategies; flattening rates in the middle years; and then declining rates as the play moves out of sweet spots and into more fringe acreage (Lenko and Xie, 2018). Cygnet Soars! Figures 2a-c show [Read more]
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Want a look into the future of your business? Develop your financial model
When key business decisions need to be made in short time frames amid a backdrop of market volatility, a robust financial model remains one of the top tools in your company’s arsenal to evaluate the consequences of your strategy. Bank of Canada Governor Stephen Poloz has cautioned Canadians to be prepared for economic volatility (although he has stated to national media that he is not expecting a recession in 2019). Recent historic actions by Alberta’s provincial government to raise oil [Read more]
Questerre reports over 60% increase in reserves
CALGARY, Alberta, March 19, 2019 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on the results of its December 31, 2018 Reserves Assessment and Evaluation of its Oil and Natural Gas Properties (the “Report”), as evaluated by McDaniel & Associates Consultants Ltd.(“McDaniel”) with an effective date of December 31, 2018, prepared in accordance with the standards contained in the Canadian Oil and Gas Evaluation Handbook (the “COGE [Read more]
Alberta government announces further easing of oil production restrictions
EDMONTON - The Alberta government has announced another easing of restrictions on oil production, saying the amount that can be produced will increase in May by 25,000 barrels per day and another 25,000 barrels per day in June. The province mandated production cuts at the start of this year in an effort to reduce a price discount on oil produced in Western Canada, which is due to a lack of pipeline and rail capacity. The province says in a news release that less diluent is needed [Read more]
Alberta kicks off final legislature session before election
Alberta on Monday opened its final legislature session before a provincial election, which polls suggest could see the left-leaning New Democratic Party cede power to the United Conservative Party opposition. Premier Rachel Notley has not yet set a date for the election, but Alberta law states it must be held between March 1 and May 31. Voters will be asked to cast their ballots at a time of controversial government intervention in Alberta's oil market that has drawn support from some [Read more]
Williams and Canada Pension Plan Investment Board to Form a US$3.8 Billion Strategic Joint Venture Partnership in the Marcellus/Utica Basins
Strategic partnership between Williams and CPPIB to support ongoing growth and Northeast region optimization Williams consolidates 100% interest in Utica East Ohio Midstream (“UEO”) and assumes operatorship Williams expects to receive approximately $1.34 billion in exchange for a 35% interest in a combined UEO-Ohio Valley Midstream (“OVM”) joint venture, providing Williams with a net of approximately $600 million, after transaction fees and paying for the UEO interest, allowing for debt [Read more]
Robson: Panic is a bad response to an alleged climate crisis
One important reason I recently launched the Climate Discussion Nexus as a forum for fact-based discussion of climate science and policy is that when you raise questions about “global warming” a number of things happen that don’t remind you of reasonable debate. Like people hollering that the crisis is too urgent to waste time thinking. For decades we’ve been told we have only 10 years to save the planet. Once it’s too late, we will see such horrors that to wait for evidence would be madness. [Read more]
Freehold Royalties Ltd. Announces Changes to Executive Team
CALGARY, Alberta, March 18, 2019 (GLOBE NEWSWIRE) -- Freehold Royalties Ltd. (TSX: FRU) (“Freehold” or the “Company”) announces changes to its executive management team effective today, including the resignation of Darren Gunderson, Vice-President, Finance and Chief Financial Officer and the appointment of Alan Withey as Interim Vice-President, Finance and Chief Financial Officer. Mr. Gunderson has served in a variety of roles with Freehold since its inception in 1996 including Controller and [Read more]
B.C. Court of Appeal will begin hearing oil-transport reference case today
VANCOUVER - British Columbia's Court of Appeal will consider the question of provincial powers over the future of the Trans Mountain pipeline expansion project during a five-day hearing that starts today. The B.C. government's reference case asks the court if the province has jurisdiction to regulate the transport of oil through its territory and restrict bitumen shipments from Alberta. Alberta Premier Rachel Notley and Prime Minister Justin Trudeau say only Ottawa — not the provinces — [Read more]
Canadian oil companies continue to cut 2019 capital expenditures
Canada's oil producers lowered their capital expenditures for 2019 due to volatility in crude prices and mandatory production cuts in the province of Alberta. Imperial Oil Ltd said on Friday it would delay its C$2.6 billion ($1.95 billion) Aspen oil sands project in Alberta by about a year after the provincial government imposed output cuts to tackle pipeline bottlenecks. "As part of its 2019 capital budget, the company had earmarked C$800 million in Aspen related spending, which will [Read more]