The board of directors of Imperial Oil Limited is pleased to announce the appointment of B.W. (Brad) Corson as president, effective September 17, 2019. Chairman and chief executive officer, R.M. (Rich) Kruger, has declared his plans to retire at the end of December, 2019. Mr. Corson will assume the role of chairman, president and CEO of Imperial Oil Limited on January 1, 2020. “On behalf of the Imperial board of directors, I would like to thank Rich Kruger for his outstanding leadership and [Read more]
Headlines
Oil falls more than 1% as market awaits response to Saudi oil attacks
Oil fell more than 1% on Tuesday as the market hung on tenterhooks following attacks on Saudi Arabian crude facilities that cut the kingdom's production in half and sent prices soaring by the most in decades.The attack heightened uncertainty in a market that had become relatively subdued in recent months due to slowing growth as the U.S.-China trade war rages and now faces the loss of crude from Saudi Arabia, usually the supplier of last resort. A gauge of oil-market volatility on Monday [Read more]
How the Saudi attack affects global oil supply
The strike on the heartland of Saudi Arabia's oil industry, including damage to the world's biggest petroleum-processing facility, has driven oil prices to their highest level in nearly four months. Here are some facts about the impact on oil supply and spare capacity: WHY IS IT SO DISRUPTIVE FOR GLOBAL OIL SUPPLIES? The attack on Saudi oil facilities on Saturday not only knocked out over half of the country's production, it also removed almost all the spare capacity available to [Read more]
Oil up 10% on Saudi attacks, stockpile hopes pare early gains
Oil prices surged nearly 20% at one point on Monday, with Brent crude posting its biggest intraday gain since the 1990-1991 Gulf crisis, after an attack on Saudi Arabian oil facilities at the weekend halved the kingdom’s production. Prices retreated after U.S. President Donald Trump approved the use of his country’s emergency oil stockpile to ensure stable supply. But he also said he was ready to respond to the strike, a prospect that maintained geopolitical tensions. U.S. West Texas [Read more]
On October 1, 2019 this Yard Full of Gas Processing Equipment is Closing down for good. This is your 8 Day notice to get your offer in.
Just north of Athabasca is a yard that in 2007 would have been a gold mine for any oil company or reseller in town. Due to the entire area’s corporate shutdown and cleanup schedule, everything needs to get redeployed or it will eventually be moved to a different yard or scrapped all together. Compressors (and parts), Dehy’s, Engines, Separators (w/ 200BB Coated Tanks), Double Wall Fuel Tanks, Blowdown Tanks, Hydraulic Units, Flare Equipment, and even 8’ x 13’ Buildings which could be [Read more]
Upcoming CAPL Courses and Lunch & Learns
Here is the upcoming list of courses offered by CAPL. For more information, click on a course link below or visit landman.ca Date Course Category Status Sep 26 2019 Orphan Well Association Surface and Mineral full Oct 01 2019 Land and Environment: You Can\'t Have One Without the Other Surface and Mineral open Oct 02,03 2019 Evaluation of Canadian Oil and Gas Properties for Landmen (2 Day) Technical Skills open Oct 08 2019 Royalty [Read more]
Rally Canada Resources Ltd.: Non-Core Property Divestiture
Rally Canada Resources Ltd. (“Rally”) is in the process of selling some non-core property located in Redwater. The property comprises 14.25 sections of PNG rights (PNG surface to base Mannville) in Twp 54-55 Rge 20-21 W4M. Rally holds a 100% working interest in this asset. Current - Production 230 bbl/d oil and 60 Mcf/d gas - 17 active oil wells and 2 gas wells - Production is gathered at the 3-7-55-20W4 Battery - The oil 's API is 34.2 - All facilities and [Read more]
The power of the Permian – would anyone have attacked Saudi Arabia’s oil facilities so brazenly a decade ago?
Eighteen years ago, a bunch of crazed religious activists, most of whom were from Saudi Arabia, hijacked four planes and attacked the US on its home soil. A frightened then enraged US snapped into action, and invaded the country next door. Several of them actually; both Iraq and Afghanistan received a fairly significant pounding from the finest military hardware available on the planet. Saudi Arabia remained a bizarre oasis of calm; there may have been a few unpleasant diplomatic exchanges [Read more]
Delphi Energy Corp. Announces Close of Alliance Service Sale and Agreement to Reactivate Alliance Lateral Line
Delphi Energy Corp. (“Delphi” or the “Company”) announces the closing of the sale of a portion of its Alliance Service and the execution of an Interconnection Development Agreement with Alliance Pipeline Limited Partnership to reactivate its lateral line to the company-owned Bigstone West Gas Plant located at 14-28-59-22W5M. CLOSING OF THE SALE OF A PORTION OF EXCESS ALLIANCE FIRM TRANSPORTATION SERVICE As previously announced on June 17, 2019, Delphi has sold and permanently assigned 16 [Read more]
Attacks on Saudi facilities threaten spare oil capacity, price hikes
Saturday's attacks on key Saudi Arabia processing plants will test the world's ability to handle a supply crisis as it faces the temporary loss of more than 5% of global supply from the world's biggest crude exporter. The Iranian-backed Houthis group in Yemen claimed responsibility for attacks that shut two plants at the Abqaiq facility, the heart of the Saudi oil industry, which will cut the kingdom's production by about 5.7 million barrels per day (bpd), more than half of [Read more]