The Canadian government is in talks with heavy industrial emitters about ways to ensure Ottawa's planned carbon price increases will remain in place even if Prime Minister Justin Trudeau's Liberal government is voted out of power. Federal Natural Resources minister Jonathan Wilkinson told Reuters most of the discussions have focused on "carbon contracts for differences." These contracts set a price on tradable carbon credits, which heavy emitters can get if they reduce pollution. If the [Read more]
Headlines
Cardinal Energy Ltd. announces first quarter 2022 operating and record financial results
CALGARY, Alberta - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX: CJ) announces its operating and record financial results for the first quarter ended March 31, 2022. FINANCIAL AND OPERATING HIGHLIGHTS FROM THE FIRST QUARTER OF 2022 First quarter 2022 total production increased 12% over the same period in 2021 with crude oil production increasing by 18%; Adjusted funds flow(1) increased to a record $86.6 million, a 436% increase over the same period in 2021 and a 62% [Read more]
Wilkinson works to strengthen energy and resource partnerships with the United States
WASHINGTON - Canada and the United States share a common vision of a prosperous and sustainable North American economy. Our integrated energy systems and natural resource markets produce billions in cross-border trade and support hundreds of thousands of jobs on both sides of the border. Russia's unprovoked and unjustifiable invasion of Ukraine and subsequent sanctions on energy and related products have fundamentally altered the global energy landscape. Canada condemns recent efforts by [Read more]
Kenney heading to U.S. to talk oil, energy security with lawmakers
EDMONTON - Alberta Premier Jason Kenney will head to Washington D.C. next week to speak to lawmakers about the importance of getting more oil from Canada. Kenney will speak to the U.S. Senate Committee on Energy and Natural Resources about Alberta’s role in strengthening North American energy security. Kenney has said Russia’s invasion of Ukraine has amplified global energy concerns and highlighted the need for a better-integrated North American energy network. The appearance comes [Read more]
White House, senators have ‘sympathy’ for Canada’s position on Line 5, says Wilkinson
WASHINGTON - Canada's natural resources minister says he is hearing "significant sympathy" from U.S. officials for the plight of the Line 5 pipeline. Jonathan Wilkinson is in Washington, D.C., for meetings with lawmakers, Biden administration officials and Energy Secretary Jennifer Granholm. Wilkinson says that while Canada is focused on keeping the cross-border pipeline operating, the government is also exploring contingency plans in the event a court orders it shut down. The state of [Read more]
Tamarack Valley Energy Ltd.: Non-core property divestiture
Tamarack Valley Energy Ltd. (“Tamarack Valley” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the sale of certain non-core natural gas interests located in the Forty Mile, Pakowki and Quaich areas of southern Alberta (the “Properties”). The Properties consist of operated, high working interest natural gas production. Tamarack Valley is selling the Properties in order to focus its operations on its core assets. Average daily production net to Tamarack Valley [Read more]
Oil down, dogged by recession fears
Oil prices were down on Thursday in a volatile week as economic concerns and recession fears dogged global financial markets, outweighing supply concerns and geopolitical tensions in Europe. WTI crude futures fell 8 cents, or 0.07%, to $105.47 a barrel. Brent crude futures slipped 81 cents, or 0.75%, to $106.74 a barrel. Oil prices are under pressure this week, along with global financial markets, on jitters over rising interest rates, the strongest U.S. dollar in two decades, concerns [Read more]
Birchcliff Energy Ltd. announces excellent Q1 2022 results, doubling of quarterly common share dividend for Q2 2022 and plans to increase common share dividend in 2023
CALGARY, Alberta - Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its Q1 2022 financial and operational results, the doubling of its quarterly common share dividend for the quarter ending June 30, 2022 and plans to further increase the Corporation’s common share dividend in 2023. “We continue to be committed to maximizing free funds flow generation and significantly reducing indebtedness. I am pleased to report that Birchcliff delivered on both [Read more]
Column: Disinformation becomes an art form, and – a government department. What could go wrong?
I’m not a fan of making predictions of any specificity, because there are usually way too many variables at play for anything of consequence. Trying to guess the price of oil at YE 2022 leaves me speechless despite the pathetically large number of hours I spend trying to understand the market. Yet, given the way 2022 has unfolded, I offer the following predictions as more than odds-on favourites to occur. Pigs will fly through the sky delivering Amazon packages. Kim Jong-un will sing a duet [Read more]
Treeline Well Service LP acquires the assets of Compass Well Servicing
Treeline Well Services LP (Treeline) is pleased to announce, effective May 11, 2022, the partnership has acquired all the assets of Compass Well Servicing (Compass). The Compass fleet consists of 9 mobile double rig packages and all equipment was manufactured between 2013 and 2019. The acquisition will give Treeline the newest fleet of service rigs in Canada. Treeline is excited to welcome the employees of Compass and the partnership will continue to build on the great business Compass has [Read more]