VICTORIA - Alberta's loss is British Columbia's gain as fears of labour shortages for the construction of the massive Site C dam evaporate amid a slump in the oil and gas industry, says a new report released Tuesday. The slowdown is providing a steady supply of skilled workers for the Peace River project, the report says, easing previous concerns from experts who had warned of potential labour shortages. The downturn and low interest rates have also resulted in a lower bottom [Read more]
Headlines
For How Long Can OPEC Talk Up Oil Prices?
Not a day passes without OPEC making oil and gas headlines, and today is surely no exception. Seemingly in lockstep with OPEC, the market is once again pacified on the promise that changes to the global oil supply glut are a' comin'. Yesterday, the Wall Street Journal quoted anonymous sources close to the matter who had it on good authority that the Saudi's were willing to cut "up to" 400,000 barrels per day (and that they had planned to do so all along, with or without an OPEC agreement). We [Read more]
Paramount Resources Ltd. announces a normal course issuer bid
CALGARY, Oct. 11, 2016 /CNW/ - Paramount Resources Ltd. ("Paramount" or the "Company") (TSX:POU) announces that its board has approved Paramount implementing a normal course issuer bid ("NCIB") and a Notice of Intention to make a Normal Course Issuer Bid has been filed with and accepted by the Toronto Stock Exchange (the "TSX"). Paramount is implementing the NCIB as the Company's directors and management believe that from time to time the market price of Paramount's Class A Common Shares [Read more]
Painted Pony Announces Director Appointment
CALGARY, Oct. 11, 2016 /CNW/ - Painted Pony Petroleum Ltd. ("Painted Pony" or the "Corporation") (TSX: PPY) is pleased to announce Joan E. Dunne has been appointed to the Painted Pony Board of Directors effective October 7, 2016. Ms. Dunne brings more than 30 years of experience in financial and strategic capacities within the upstream oil and natural gas sector. Ms. Dunne currently serves as a Director of Tundra Oil & Gas Limited and as a Director of Sprott Resource Corp. She also [Read more]
Toro Oil & Gas Ltd Announces Non-Core Asset Divestiture and Provides Corporate Update
CALGARY, Oct. 11, 2016 /CNW/ - Toro Oil & Gas Ltd. (TSXV: TOO) ("Toro" or the "Company") is pleased to announce the closing of a non-core asset divestiture and also provides a corporate update addressing plans for the balance of 2016 and early 2017. Non-Core Asset Divestiture As part of Toro's ongoing efforts to divest legacy non-core properties, Toro successfully closed a divestiture of its non-operated Pembina property to an arm's length industry participant for total cash [Read more]
XI Technologies – H2S Reports Workshop
XI Technologies (XI) H2S Reports are the foremost H2S research application in the industry, designed to help you quickly assess a prospective drilling site for H2S release rate potential. With over 10 years of experience, XI provides the most reliable data to evaluate and calculate the potential H2S risks in your prospective locations. Now we’ve taken this product to the web! Come see what you are missing out on. It has been over a year since XI converted our H2S Gold Report to the web, [Read more]
Operating Model Redesign with “Big Data” to Optimize E&P Economics
The following article is part three in a three part series discussing upstream operating models. View part two here. At $100 oil, the most important cost for many operators was the opportunity cost of foregone barrels – this provoked great interest in basins and plays with higher IPs (e.g. Bakken, Eagle Ford) and operational excellence initiatives to speed well-delivery (e.g. Lean Production Systems, Theory of Constraints, Six Sigma, etc.). Indeed, it seemed that “Jonah” was back! :) But [Read more]
Prairie farmers take financial hit as oil and gas slowdown stalls drilling rigs
CALGARY - For 56-year-old farmer Shannon Webb, waking up Friday to six inches of snow coating his grain fields near Wynyard, Sask., the frustration of an interrupted harvest wins out, for now, over worry about the ongoing oil-and-gas drilling downturn. Like many Prairie farmers, Webb has used a steady paycheque from working on drilling rigs in winter and summer for decades to pay down his land and equipment debt and stabilize his farm income. He's been able to leave the rig to tend his [Read more]
This week’s new oil and gas 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 here to create an account to post jobs; it's simple and easy to use. Control Room Operator North West Redwater Partnership is a joint venture between North West Upgrading Inc. and Canadian Natural Resources Limited, with each company owning 50% stake in the Partnership. The Partnership [Read more]
Trilogy Energy Corp. Announces Crude Oil Emulsion Release in Kaybob Area
CALGARY, ALBERTA--(Marketwired - Oct. 7, 2016) - Trilogy Energy Corp. (TSX:TET) ("Trilogy" or "the Company") is responding to a crude oil pipeline leak in the Kaybob area of central Alberta. In the afternoon of October 6, 2016, Trilogy discovered a leak in one of its crude oil pipelines within its Kaybob Montney Oil Development, approximately 15 kilometres from the Town of Fox Creek. The Company's emergency response plan was activated, applicable regulatory bodies and third parties were [Read more]