CALGARY, Alberta, Feb. 12, 2020 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) continued to gain momentum in 2019, generating free funds flow of $361 million in the fourth quarter and approximately $2.5 billion for the year, reducing net debt by 22% year-over-year and completing construction on its Christina Lake phase G oil sands expansion in March. In the fourth quarter of 2019, Cenovus increased its dividend by 25% and reached full ramp-up of its crude-by-rail shipping [Read more]
Headlines
Sayer Energy Advisors’ corporate announcement
It is with mixed emotions that I am announcing my retirement from working full time in the oil industry. I've spent close to 40 years in this industry, the last 17 years with Sayer Energy Advisors, and I'm ready to throw the alarm clock into the trash and turn off my electronic devices (except for receiving and looking at pictures of my grandchildren!). I'm sad to think that I won't be working every day with the fantastic team that we've built at Sayer, but I'm happy to know that the ship [Read more]
XI Technologies: The most common issues with drilling data
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. In today’s economy, drilling departments are working with a slim margin for error. Smaller drilling programs working with even small drilling budgets result in greater pressure to reduce well construction costs. More important still [Read more]
OptaSense Announces New Office Locations to Support Growing Business in Canada
CALGARY - OptaSense, a QinetiQ company, a world leader in fiber-optic-based acoustic sensing, recently announced that it has expanded its Canadian presence in order to better serve its growing business in the country. The company, which provides industry leading monitoring services in the upstream and midstream oil and gas businesses, recently moved its location in Calgary, Alberta. The new facility is located at 999 57th Ave NE, next to Calgary International Airport and AB Highway 2. The [Read more]
Is now the time to renounce your US citizenship?
The United States is one of the only countries in the world to tax based on citizenship, which means if you’re a US citizen living outside the United States, you still have yearly IRS tax filing obligations. These tax filing obligations can be an expensive annual hassle (even if you owe no tax) and may even result in double taxation. Fortunately, properly renouncing your US citizenship can provide a way out. Our free seminar covers the following topics of interest: Why do people renounce [Read more]
Athabasca Minerals Inc. Announces Strategic In-Basin Sand Supply Offtake Agreement with Shell Canada Energy and Launch of a Strategic Review
CALGARY, February 11, 2020 – Athabasca Minerals Inc. (“AMI” or the “Corporation”) (TSX-V: AMI) is pleased to announce that AMI Silica Inc. (“AMI Silica”), a wholly-owned subsidiary of AMI, has secured an anchor offtake agreement (the “Agreement”) with Shell Canada Energy (“Shell”) for its Duvernay Frac Sand Project (the “Duvernay Project”). AMI believes that the Agreement will serve as a catalyst to AMI’s growth program to supply local premium domestic in-basin sand to offset US imports. The [Read more]
New Oil and Gas Jobs From BOE Report 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 to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Feb. 11 Heavy Duty Mechanic Heavy Iron Inc Calgary Feb. 11 Vice President, Business Development Johnstone Ritchie Executive Search Calgary Feb. 10 Specialist, [Read more]
Coastal Gas Link blockades a ‘dress rehearsal’ for future project fights: Kenney
CALGARY - Alberta Premier Jason Kenney says he's concerned blockades in support of First Nations opponents to a northern British Columbia natural gas pipeline are a "dress rehearsal" for opposition to future energy projects. Demonstrations have blocked railways, ports and bridges across the country in solidarity with those fighting the Coastal Gas Link project that crosses the traditional territory of the Wet'suwet'en First Nation. Kenney describes the protests as "ecocolonialism" from [Read more]
Heavy discount narrows to nearly three-month low
Canadian heavy crude's discount versus U.S. benchmark West Texas Intermediate (WTI) crude narrowed on Tuesday to a nearly three-month low, as the impact of frigid weather last month hampered production. Western Canada Select (WCS) heavy blend crude for March delivery in Hardisty, Alberta, was trading at $15.75 per barrel below WTI, according to NE2 Canada Inc, narrower than Monday's settle of $16.75 under. The differential's lowest price, $15.65, represented the narrowest WCS-WTI [Read more]
Alberta agrees to divest crude by rail contracts
The Canadian province of Alberta has agreed to divest its contracts to move additional crude by rail to market, Premier Jason Kenney said on Tuesday, but he declined to release details and said the agreements were still being finalized. The contracts to ship a collective 120,000 barrels per day were negotiated by the previous New Democratic Party government, and Kenney has long said his government planned to transfer them to the private sector. Government officials have for months said that [Read more]