CALGARY - TransCanada (TSX:TRP) says it has lined up enough shipper support to go ahead with a new pipeline tolling system designed to allow more western Canadian natural gas to be shipped to Ontario to compete with growing American supplies. The Calgary-based pipeline company says it will now seek regulatory approval from the National Energy Board for the new tolls with a targeted in-service date of Nov. 1. TransCanada is offering the lower toll costs to help fill its [Read more]
Headlines
Despite Higher Prices, Canadian Oil Industry Still in Survival Mode Says Conference Board of Canada
OTTAWA, March 13, 2017 /CNW/ - Although Canada's oil producers are expected to benefit from both higher prices and rising production, profitability will remain elusive for the industry – with losses expected for the third year in a row. Pre-tax losses in Canada's oil extraction industry are projected to reach just over $1.1 billion this year, according to The Conference Board of Canada's latest outlook for the industry. "Following three consecutive years of oversupply, global crude oil [Read more]
Saudi Aramco IPO not garnering the attention it deserves – it’s the beginning of the end of the energy world as we know it
As usual, these days the media’s focus is overwhelmingly on statistical trivia - mesmerized completely by the slightest wiggle in rig count numbers, or a .0001 percent revision in production estimates or global demand, or whatever nugget reinforces the prevalent theme of the day. It’s too bad, because the fixation with near-random minute fluctuations is missing some really important stories. As a significant example, Saudi Arabia recently announced plans to take Saudi Aramco public. That did [Read more]
TransCanada Announces Successful Canadian Mainline Open Season Results
CALGARY, ALBERTA--(Marketwired - March 13, 2017) - News Release - TransCanada Corporation (TSX:TRP)(NYSE:TRP) (TransCanada) today announced the successful conclusion of a long-term, fixed-price Open Season to transport natural gas on the Canadian Mainline from the Empress receipt point in Alberta to the Dawn hub in Southern Ontario. The company confirmed that its recent Open Season resulted in binding, long-term contracts from Western Canada Sedimentary Basin (WCSB) gas producers to transport [Read more]
Savanna Explains Why Friendly Proposed Acquisition by Western Energy Is Superior to Hostile Offer From Total Energy
CALGARY, ALBERTA--(Marketwired - March 13, 2017) - Savanna Energy Services Corp. ("Savanna") (TSX:SVY) today explained why the Western Energy Services Corp. ("Western") (TSX:WRG) friendly proposed acquisition of Savanna (the "Western Offer") is superior to the Total Energy Services Inc. ("Total") hostile offer (the "Total Offer"). Savanna also refuted a number of unsubstantiated and erroneous claims by Total in a news release dated March 9, 2017. Savanna reiterated the unanimous [Read more]
Canada Weekly Rig Count Down 20 to 315
Western Canada's fleet of drilling rigs are still busy with 315 actively drilling according to data collected by Baker Hughes for the week of March 10th. Drilling activity is starting to slow down, but still very active in comparison to last year's count (only 98 active rigs). Will will see a continued drop in activity due to the upcoming spring breakup. Rigs activity will stay low likely until June, when activity will start to pick up again. From one week ago, Alberta has seen a slight [Read more]
Government of Canada Approves Towerbirch Pipeline Expansion Project
OTTAWA, March 10, 2017 /CNW/ - Canadians have told the Government that we must protect our environment for future generations while growing the economy and creating good, middle-class jobs. The Government is making responsible decisions about moving Canadian energy to markets while investing in clean technology and supporting the long-term transition to a lower-carbon energy mix. Canada's Minister of Natural Resources, the Honourable Jim Carr, today announced the Government of Canada's [Read more]
PM Trudeau says Canada’s regulations bring clarity energy companies need
HOUSTON - Boosting confidence in both the energy industry and the environmental regulators that oversee it will help attract investment in Canadian natural resources over the long run, Prime Minister Justin Trudeau said Friday as he wrapped up two days in the U.S. energy heartland. "The one thing I have heard consistently from leaders in the energy industry is the need for clarity," Trudeau said Friday in Houston, Texas, where he attended an influential gathering of politicians and [Read more]
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CSV Midstream Solutions Announces Strategic Midstream Opportunity
CALGARY, Alberta--(BUSINESS WIRE)--CSV Midstream Solutions Corporation (the “Company” or “CSV”) is pleased to announce it has reached a non-binding agreement in principle with an intermediate exploration and production company (the “Producer”), to build, own and operate a gas processing facility (the “Facility”) in the Resthaven area of Alberta. The Facility will be capable of processing 100 Million standard cubic feet per day of sweet gas from the Resthaven area. CSV and the Producer expect to [Read more]