Goldman Sachs Commodities Research said more oil production is needed from the Organization of the Petroleum Exporting Countries and allies (OPEC+) to balance the market by 2022 as supply risk looms elsewhere. The U.S. bank forecast oil demand to rise by an additional 2.2 million barrels per day (mbpd) by year-end, leaving a 5 mbpd supply shortfall, well in excess of what Iran and shale producers can bring online, it said in a note dated June 29. "While a large new infection wave could [Read more]
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U.S. natgas producers hope customers will pay more for ‘green gas’
U.S. natural gas producers hope climate-conscious electric utilities and gas exporters will pay a premium for what they say is "greener gas" that has been certified as coming from low-emission operations or from renewable sources such as landfills. EQT Corp, Chesapeake Energy and liquefied natural gas firms Cheniere Energy and NextDecade Corp are among the companies considering low-carbon certifications from groups such as Denver-based Project Canary. Gas certified as "responsibly produced" [Read more]
Column: The petroleum sector’s carbon emissions drive is going to surprise many as the results start coming in
There is an image bandied about the nation that Canada’s hydrocarbon sector is an out-of-touch dinosaur - steadfastly clinging to the past, yelling at clouds, and holding out for the glory days of the next petroleum boom. In reality, do you want to know what is the hardest part of business in today’s oil patch? Figuring out which emissions-reduction schemes and programs to focus on. There are dozens taking shape, everywhere you look. Those that don’t want to hear it won’t believe it, but [Read more]
Tidewater announces successful closing of the Pioneer Pipeline sale to ATCO and results of Tidewater’s annual general and special meeting
CALGARY, AB - Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Corporation") (TSX: TWM), together with its partner TransAlta Corporation ("TransAlta"), is pleased to announce that it has closed its previously announced sale of the Pioneer Pipeline (the "Pioneer Transaction") to ATCO Gas and Pipelines Ltd. ("ATCO") for gross proceeds of $255 million. Tidewater received net cash proceeds of $135 million which includes: the sale of certain ancillary assets to TransAlta that closed [Read more]
Prairie Provident reports on AGM voting results
CALGARY, Alberta - Prairie Provident Resources Inc. ("Prairie Provident" or the "Company") announces the results of voting on matters submitted to shareholders at the Company's annual meeting held today. Election of Directors At the meeting, each of Patrick McDonald, Mimi Lai, Derek Petrie, Ajay Sabherwal and Rob Wonnacott was nominated for election as a director of the Company for the ensuing year. Each such nominee was elected by ordinary resolution, for a term of office ending at the [Read more]
Gas water removal using bubble cap trays
Glycol dehydration using bubble cap style trays is currently the most popular, dependable, and economically efficient method to remove water from natural gas to meet pipeline and process specifications. This process involves bubbling wet gas upward through glycol that is flowing downward through evenly spaced trays. The gas gets drier as it passes upward through each tray. The tower is often also referred to as a glycol “contactor” or “absorber.” The most common type of glycol currently being [Read more]
Oil to sustain surprise rally despite Iran, third COVID-19 wave threat
Who of the traditional bulls predicted a rally that saw oil prices doubling in the last eight months? The short answer is no one. Of more than 50 analysts polled by Reuters last October when Brent was hovering near $35 per barrel amid a second large wave of global lockdowns to slow the coronavirus pandemic, almost none dared to predict prices would approach $60. U.S. bank Goldman Sachs saw second-quarter average prices hitting $57.50 a barrel and much smaller Houston-based consultancy [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. 29 EQUIPMENT OPERATOR/FIELD SUPPORT Roska DBO Grande Prairie Jun. 29 Intermediate/Senior Environmental Specialist Summit, An Earth Services Company Calgary or [Read more]
Petrus Resources announces addition to Board of Directors
CALGARY, Alberta - Petrus Resources Ltd. ("Petrus" or the "Company") (TSX: PRQ) announces that Mr. Peter Verburg has joined the Petrus Board as an independent director. Mr. Verburg previously served on the Company's board from 2010 to 2017. He is a Calgary businessman with extensive experience in the Canadian Energy sector, and has a diverse business background, with experience as a journalist, investment banker and entrepreneur. Most recently, Mr. Verburg is the founder and CEO of a [Read more]
Leucrotta Exploration shareholders approve all resolutions at annual and special meeting
Calgary, Alberta - Leucrotta Exploration Inc. (TSXV: LXE) ("Leucrotta" or the "Company") is pleased to announce it has completed its Annual and Special Meeting with Shareholders approving all resolutions. For more information, a copy of the management information circular dated May 25, 2021 is available on the Corporation's SEDAR profile at www.sedar.com. Leucrotta welcomes newly elected directors Harvey Doerr and Raymond Hyer to its Board and would like to thank long-standing director Brian [Read more]