Innovative Well Abandonment is pleased to provide the industry with a company directory for a large portion of the approved vendors for Saskatchewan's Accelerated Site Closure Program (ASCP). The directory lists off numerous companies that are providing different services for the ASCP. These services include: Well Decommissioning: Service Rig Wellsite Supervisor Engineering and Project Management Coil Tubing Wireline Fluid Hauling and Disposal Cut and Cap Pressure [Read more]
Headlines
Saturn Oil & Gas Inc. announces results of AGM
Calgary, Alberta - Saturn Oil & Gas Inc. (TSXV: SOIL) (FSE: SMK) ("Saturn" or the "Company") today announced the results of voting at its 2021 Annual General Meeting of shareholders (the "AGM") held on June 22, 2021. A total of 43,671,759 common shares were voted at the AGM, representing 22.25% of the outstanding common shares of the Company. Shareholders voted in favour of the election of all director nominees as follows: Name Votes by Proxy For Votes by Proxy [Read more]
Gear Energy Ltd. announces successful completion of annual borrowing base redetermination and May update to shareholders
CALGARY, AB - Gear Energy Ltd. ("Gear") (TSX: GXE) is pleased to announce that it has successfully completed its annual borrowing base redetermination with the maturity date extending to May 27, 2023. Annual Borrowing Base Redetermination Over the last year and a half, Gear has focused on substantially improving its balance sheet. This has translated into continuous and significant debt reductions which have provided Gear with top decile leverage metrics in its peer group. The existing [Read more]
Topaz Energy Corp. announces results of its annual meeting of shareholders
CALGARY, AB - Topaz Energy Corp. (TSX: TPZ) ("Topaz" or the "Company") is pleased to announce that its shareholders approved all resolutions at the annual meeting of shareholders of the Company held on June 23, 2021 (the "Meeting"). A report of voting results will be available on SEDAR at www.sedar.com. The resolution to appoint the nine (9) nominees as directors of the Company was passed on a vote by poll and each of the directors received the following votes for their election: [Read more]
Enbridge says additional permit requirements will delay start of Line 5 tunnel project
The U.S. Army Corps of Engineers' decision to undertake a tougher environmental review of Enbridge Inc's proposed oil pipeline tunnel under the Great Lakes will delay the start of construction on the project, the company said on Wednesday. The Canadian company had planned to start building the $500 million tunnel along the lakebed of the Straits of Mackinac, connecting Lakes Huron and Michigan, this year. The tunnel will house the Line 5 oil pipeline, which ships 540,000 barrels per day of [Read more]
Canadian oil sands production exceeds pre-pandemic levels, but lingering COVID impacts and other factors trim long-term growth
IHS Markit 10-year forecast expects oil sands production in 2030 to be 3.6 million barrels per day, well above current level, but lower than prior projections CALGARY, Alberta - Canadian oil sands production has fully recovered from last year’s “COVID-19 Shock”—the largest contraction of upstream production in Canadian history—and has exceeded pre-pandemic levels. However, lingering COVID impacts, pipeline constraints and uncertainties related to an accelerating energy transition have reduced [Read more]
Trans Mountain allowed to resume tree clearing for oil pipeline project
The Canada Energy Regulator (CER) this week lifted a stop work order on Trans Mountain Corporation that restricted tree clearing and mowing across the oil pipeline project to protect the environment and migratory birds. The order issued on June 3 required Trans Mountain to investigate and find the root cause of two incidents related to contractor oversight issues in May. "The CER has now lifted the Order and Trans Mountain is proceeding with the implementation of the action plan prior to [Read more]
Oil hits more than two-year high on U.S. inventories
Oil rose above $75 a barrel on Wednesday, reaching its highest since late 2018, after an industry report on U.S. crude inventories reinforced views of a tightening market as travel picks up in Europe and North America. The American Petroleum Institute reported that crude stocks fell by a bigger than expected 7.2 million barrels, two market sources said. Official inventory figures from the Energy Information Administration are due at 1430 GMT. U.S. West Texas Intermediate jumped $1.09 [Read more]
XI Technologies: Regulatory Refresher – STICK Diagram information
Each week, XI Technologies scans its unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you’d like to receive our Wednesday Word to the Wise in your inbox, subscribe here. Due to a flurry of changes in the workforce of many organizations in our industry, we felt it useful to offer a series of regulatory refreshers for people who may find themselves in charge of new drill programs. In May, we ran an [Read more]
What special relationship? Canada grimaces amid hail of U.S. trade blows
After Prime Minister Justin Trudeau held a cordial first meeting with U.S. President Joe Biden in February, marking an end to years of battles with the Trump administration, a relieved Canadian official said, "We feel we are off to the races here." But old trade disputes that flared up during the Trump years show no signs of fading. Last month Washington announced plans to double duties on imports of Canadian lumber and requested a dispute panel on Canada's dairy import quotas. Biden is [Read more]