Recent announcements, including the Alberta Site Rehabilitation Incentive Program, have generated significant opportunities to create positive impacts on the environment and economy. The funding from this program is in large part due to the federal government's COVID-19 Economic Response Plan. This plan’s goal is to put out of work oil field services contractors back to work, which has made well abandonment work big business in Alberta. As part of the federal government funding, Indigenous [Read more]
Headlines
Column: Coal development is positive for Alberta
Recently proposed coal developments in southern Alberta have raised concerns about the associated risk of damage to: The local environment, especially water quality. Wildlife, especially at-risk species. Progress on addressing climate change, especially the additional greenhouse gases that the coal consumers will produce. Forgotten in the pre-occupation with these risks are the valuable benefits the proposed coal developments offer Albertans at a time when: Employment at a [Read more]
AltaGas Ltd. closes aggregate $550 million medium term note offerings
CALGARY, AB - AltaGas Ltd. ("AltaGas" or the "Company" ) (TSX: ALA) today announced that it has completed its issue of $350 million of senior unsecured medium-term notes (the "3 Year Notes") with a coupon rate of 1.227 percent, maturing on March 18, 2024 and $200 million of senior unsecured medium-term notes (the "6 Year Notes") with a coupon rate of 2.166 percent, maturing on March 16, 2027 (the "Offering"). The net proceeds resulting from the Offering will be used to pay down existing [Read more]
OPEC still looming threat despite heightened oil prices
For an industry that has endured a global pandemic and cratered oil prices over the past year fueled by OPEC flooding the market, the recent upswing in prices is good news for the Canadian oil and gas sector. OPEC has the power to control the market and set the price by controlling its production output. OPEC, with its 13 member countries, states their mission “to coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to [Read more]
Leucrotta Exploration announces asset disposition, financing and phase 1 mica pad development
CALGARY, Alberta - Leucrotta Exploration Inc. ("Leucrotta" or the "Company") (TSXV - LXE) is pleased to announce that it has entered into an agreement with a syndicate of underwriters for a $20.0 million bought deal financing (the "Financing") by way of a short form prospectus offering. The Company will be conducting a concurrent non-brokered private placement of $2 million flow-through units of the Company. The Company has also entered into a definitive agreement with an Alberta-based publicly [Read more]
Manitoba introduces bill proposing tougher fines for protesters
WINNIPEG - The Manitoba government has introduced a bill that proposes tougher fines and possible imprisonment for people interfering with critical infrastructure. The owner or operator of the infrastructure would be able to apply for a court order to create a temporary protection zone. Included would be oil or natural gas pipelines and provincial highways. If a person were to go into the area, he or she could be fined $5,000 or jailed for up to 30 days. A corporation could be fined [Read more]
Waterous Energy Fund successfully completes take-over bid for 57 million shares of Osum Oil Sands Corp.
CALGARY, AB - Waterous Energy Fund ("WEF") is pleased to announce that it has successfully completed the offer (the "Offer") by its subsidiary, WEF Osum Acquisition Corp. (the "Offeror"), to acquire up to 57,000,000 common shares ("Osum Shares") of Osum Oil Sands Corp. ("Osum") at a price of $3.00 per share, following the expiry of the mandatory 10-day extension period at 11:59 pm (Vancouver time) on March 12, 2021. 21,531,295 additional Osum Shares were deposited and not withdrawn during the [Read more]
WTI crude floats near $65 on demand recovery anticipation
Oil prices edged up on Monday, with WTI hovering near $65 a barrel, propped up by output cuts from major producers and optimism about global economic and fuel demand recovery in the second half of the year. U.S. West Texas Intermediate was at $64.44 a barrel, down $1.08, or 1.67%. Brent crude dipped $1.07, or 1.55%, to $68.08 a barrel. Top oil exporter Saudi Arabia has cut the supply of April-loading crude to at least four north Asian buyers by up to 15%, while meeting the normal monthly [Read more]
Kanata Global has the experience and expertise for your abandonment program management
Kanata Global Environment, Engineering & Consulting is an Indigenous owned business whose mission is to provide high caliber, experienced, professional consulting and project management services to the Oil & Gas Industry. Kanata strives to establish a reputation for delivering competent, reliable, competitive services supplied with the highest integrity to satisfy our customers requests. All projects completed will meet or exceed regulatory and safety standards, all the while respecting [Read more]
Column: When it comes to COVID aid, the oil and gas industry got put on hold.
When it came to COVID-19 financial support, the oil and gas industry got put on hold. Well-funded anti-oil and gas campaigners are using the old magician's trick of "look over there so you don't notice what's going on over here". For some time we have seen sensational claims the oil and gas industry is receiving billions in subsidies and the campaigns to end them. It's just the oil and gas industry isn't getting these subsidies and so their campaigns to end them succeeded before they started. [Read more]