EDMONTON - A candidate to lead Alberta's new United Conservative Party says one way to jump-start the province's lagging oil industry may be to buy a piece of Manitoba. Jeff Callaway says the province should look at buying the port of Churchill on Hudson Bay and shipping oil there by pipeline. "This has so many benefits not just for Alberta, but for Western Canada and Canada broadly," Callaway said at the legislature Tuesday. He says tankers in Churchill could carry oil [Read more]
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Harvey threatens more U.S. oil refineries after heavy rains
HOUSTON (Reuters) - Heavy rains and flooding from Tropical Storm Harvey threatened more oil refineries along the Louisiana coast after hammering plants in Texas, forcing Exxon Mobil Corp and Citgo Petroleum to consider shutdowns. The storm dropped back over the Gulf of Mexico on Monday, sending heavy rains from Houston through to Lake Charles, Louisiana. Between five and 15 inches of rain was expected in south-central Louisiana, the National Hurricane Center said on Tuesday. The Gulf Coast is [Read more]
Sacrificing Energy East might be clever politics, but the country needs better
For hard working Canadians it can be painful to watch, but there’s no denying that there’s been some masterful political maneuvering on display recently. This is in reference to the berserk request by the National Energy Board to examine climate change impacts of the Energy East pipeline. This change in the NEB’s stance appears to be part of Prime Minister Trudeau’s master plan for solving pesky energy headaches. It’s easy to see the expediency of Trudeau’s path. He is caught between pursuit [Read more]
Canada’s transmission pipeline industry delivering on commitment to safety and transparency
A lot has changed since the first Canadian transmission pipeline was built in 1853 – a 25-kilometre cast iron pipe that moved natural gas to Trois Rivières, Quebec. Increased demand for energy eventually led to the expansion and sophistication of Canada’s pipeline network, which is now one of the safest, most economical and environmentally-friendly options in the world for shipping large volumes of oil and gas. Today, 119,000 kilometres of pipeline wind through Canada’s communities, safely [Read more]
Leucrotta Announces Q2 2017 Financial and Operating Results
CALGARY, Alberta, Aug. 29, 2017 (GLOBE NEWSWIRE) -- LEUCROTTA EXPLORATION INC. (TSXV:LXE) (“Leucrotta” or the “Company”) is pleased to announce its financial and operating results for the three and six months ended June 30, 2017. All dollar figures are Canadian dollars unless otherwise noted. HIGHLIGHTS Increased production 144% to 2,629 boe/d in Q2 2017 from 1,078 boe/d in Q2 2016 (increased 40% from 1,881 boe/d in Q1 2017). Increased funds from operations 527% to $2.1 million in Q2 [Read more]
Baytex Temporarily Shuts In Eagle Ford Production Due to Hurricane Harvey
CALGARY, Alberta, Aug. 28, 2017 (GLOBE NEWSWIRE) -- Baytex Energy Corp. (“Baytex”) (TSX:BTE) (NYSE:BTE) announces that due to Hurricane Harvey, on August 25, 2017 our Eagle Ford operations were shut-in and drilling and completion operations were suspended. This decision was driven by a number of factors including the safety of operating personnel and the availability of downstream markets. Our Houston office was also evacuated. As of August 28, 2017, field operations are being inspected and [Read more]
Oil markets roiled as Harvey hits U.S. petroleum industry
Oil markets were roiled on Monday after Tropical Storm Harvey wreaked havoc along the U.S. Gulf Coast over the weekend, crippling Houston and its port, and knocking out several refineries as well as some crude production. U.S. gasoline prices hit two-year highs as massive floods caused by the storm forced refineries in the area to close. In turn, U.S. crude futures fell as the refinery shutdowns could reduce demand for American crude. Brent futures steadied as pipeline blockades in Libya [Read more]
Gasoline future prices jump in Harvey’s wake due to refinery disruptions
CALGARY - Canadian gasoline prices are expected to rise this week after widespread flooding from tropical storm Harvey forced many refineries on the Texas Gulf Coast to shut down. Wholesale gasoline prices in the country will likely rise by an average of two to four cents per litre by Thursday, said GasBuddy senior petroleum analyst Dan McTeague, but consumers in certain markets could see much higher price increases. McTeague explained that retail operators in markets like [Read more]
U.S. drillers cut oil rigs ahead of Hurricane Harvey – Baker Hughes
U.S. energy firms cut oil rigs for a second week in a row ahead of Hurricane Harvey and as a more than year-long recovery in drilling slows down in reaction to soft crude prices. Drillers cut four oil rigs in the week to Aug. 25, bringing the total count down to 759, General Electric Co's Baker Hughes energy services firm said in its report on Friday. That compares with 406 active oil rigs during the same week a year ago. Drillers have added rigs in 56 of the past 65 weeks since the start [Read more]
Canada Weekly Rig Count Up 3 to 217
Western Canada’s fleet of drilling rigs increased to 217 actively drilling rigs according to data collected by Baker Hughes for the week of August 25th. From one week ago, Alberta rig counts increased to 144 rigs from 138, the Saskatchewan rig count decreased to 38 from 43. Oil drilling decreased to 115 rigs from 121; gas rigs increased from 93 to 102. View a full breakdown of western Canada’s rig activity. [Read more]