According to alberta.ca, the government owns 81% of oil and gas resources in Alberta and collects royalties from companies when an oil or gas well or oilsands project is in production, and are a major source of revenue for the province. At the recent CAPP Symposium, there was a panel titled Royalty Companies: Stable Business Models in Volatile Markets with David Spyker, President and CEO, Freehold Royalties Ltd., Andrew Phillips, President and CEO, PrairieSky Royalty Ltd., and Marty Staples, [Read more]
Headlines
Precision Drilling CEO says Canadian and U.S. GHG targets are ‘extremely aggressive”
CALGARY - New greenhouse gas emission targets set by Canada and the United States are "extremely aggressive" and being made without proper process, says the CEO of Calgary-based Precision Drilling Corp. But Kevin Neveu says he supports the climate change goals behind commitments by Prime Minister Justin Trudeau to slash Canada's GHGs by 40 to 45 per cent and by U.S. President Joe Biden to cut emissions by 50 to 52 per cent by 2030. Neveu says there are solutions available now such as using [Read more]
Crude-by-rail exports fall by 43 per cent to 111,900 bpd in February, says regulator
CALGARY - The Canada Energy Regulator says Canadian crude-by-rail exports fell by 43 per cent in February compared with the previous month. It says lower oil production and strong prices in Canada compared with U.S. benchmarks, along with the impact of the polar vortex cold weather event on southern U.S. refineries, meant fewer shippers elected to send their barrels by rail. A total of 111,900 barrels per day were exported by rail in February, down from 195,500 in January. Crude-by-rail [Read more]
Hostile takeover target Inter Pipeline reports 60% of Heartland plant is contracted
CALGARY - Inter Pipeline Ltd. says it has signed take-or-pay contracts covering about 60 per cent of production from the Heartland Petrochemical Complex it's building northeast of Edmonton as it continues to fight off a hostile takeover bid by Brookfield Infrastructure Partners LP. The Calgary-based company said Thursday the deals with a total of seven parties have an average duration of nine years and it is confident it will achieve its goal of 70 per cent contracted production before the [Read more]
EverGen announces acquisition of B.C.’s original RNG facility
VANCOUVER, British Columbia -EverGen, Canada’s Renewable Natural Gas (RNG) Infrastructure Platform, announces its acquisition of Fraser Valley Biogas Ltd. (“Fraser Valley Biogas”) in Abbotsford, BC. Fraser Valley Biogas has been in operation since 2011 and is the original producing RNG project in Western Canada and first project to produce RNG into FortisBC’s network. The facility combines anaerobic digestion and biogas upgrading to produce RNG, primarily by converting agricultural waste from [Read more]
Column: “Hey! You can’t just run away like that. Can you?”
Last year, perhaps because of covid-isolation, or possibly the related drinking-margaritas-for-breakfast, I had a crazy dream about an Alberta Energy Regulator employee catching Shell trying to leave the province. For whatever reason, the dreams are returning. In this latest episode, the AER was on the same patrol across the grasslands, and made a similar catch. An AER employee spotted a guy crawling under a fence as though escaping. The whole thing looks suspicious, and since the portly guy [Read more]
Inter Pipeline provides update on Heartland Petrochemical Complex
CALGARY, AB - Inter Pipeline Ltd. ("Inter Pipeline") (TSX: IPL) today announced the following update on production capacity contracting, adjusted EBITDA guidance, environmental advantages and other matters relating to its Heartland Petrochemical Complex ("HPC"). HPC, which is in the final stages of completion in Strathcona County, Alberta, will be an industry-leading petrochemical facility converting locally sourced, low-cost propane, into high-value polypropylene. Polypropylene is an [Read more]
Michigan regulator to weigh climate impact of Enbridge oil line tunnel
A state of Michigan regulator said on Wednesday it will consider the impact of climate-warming greenhouse gas emissions when deciding whether Enbridge Inc can build an underwater tunnel to rehouse a four-mile (6-km) section of its Line 5 oil pipeline. The Michigan Public Service Commission (MPSC) agreed with interveners, including environmental groups, that GHG emissions are pollutants whose impact must be considered under the Michigan Environmental Protection Act. "The Commission will [Read more]
Court asked to step in as SanLing Energy warns it intends to stop operations
CALGARY - The Alberta Energy Regulator says troubled oil and gas producer SanLing Energy Ltd. has warned it will cease operations as of April 30. It says the Orphan Well Association has therefore applied to the Court of Queen’s Bench to have a receiver assume control of SanLing’s assets. In March, the AER said it was suspending licences for thousands of wells and pipelines after private Calgary-based SanLing failed to bring its operations into regulatory compliance. It ordered the [Read more]
Be heard! Regulators are accepting public comments for these projects
There are currently three energy and mining projects in a public comment period with the IAAC. Most notably is Value Chain Solutions' Heartland Complex Expansion. To learn about these projects, and have your voice heard, follow the links below. Project: Value Chain Solutions - Heartland Complex Expansion Project - a bitumen upgrader and refinery, located in Alberta's Industrial Heartland, about 18 kilometres northeast of Fort Saskatchewan Comment Period: April 16 to May 17, 2021 Project [Read more]