U.S. energy firms this week added oil and natural gas rigs for a fifth week in a row as higher energy prices prompt producers to keep returning to the wellpad in recent months. The oil and gas rig count, an early indicator of future output, rose 2 to 348 in the week to Dec. 23, energy services firm Baker Hughes Co said in its closely followed report on Wednesday. The number of operating rigs has surged since August, when it hit a record low of 244, according to Baker Hughes data going back [Read more]
Headlines
Oil steadies as surprise U.S. stockbuild weighs
Oil steadied on Wednesday after earlier losses sparked by an unexpected rise in U.S. crude oil inventories, and as President Donald Trump rattled markets by threatening not to sign a long-awaited U.S. COVID-19 relief bill. U.S. West Texas Intermediate (WTI) crude futures bumped up 83 cents, or 1.74% to $47.59 a barrel. Brent crude futures were up 74 cents, or 1.49% to $50.55 a barrel. Both contracts fell nearly $1 earlier in the session. The American Petroleum Institute (API) reported on [Read more]
A Christmas Tax & Our need for cheap, plentiful, reliable energy
Canadians and Americans have been putting up an extra abundance of Christmas lights to create some extra holiday cheer in this pandemic year. News organizations around North America report people homebound by Covid 19 are going all out with lavish outdoor Christmas lighting displays, which bring to mind the increased energy costs contemplated by Green, Clean Energy, and ”Great Reset” plans for next year. Being announced just a week before Christmas, Canadians have barely been allowed time [Read more]
Questerre expands Clean Tech Pilot engineering to include hydrogen
CALGARY, Alberta - Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on the recent launch of the Hydrogen Strategy for Canada by the Federal Government. Michael Binnion, President and Chief Executive Officer of Questerre, commented, “Hydrogen is becoming more important as a transition fuel to meet governments’ net-zero targets. Last week, the Government of Canada announced its national hydrogen strategy. It recognizes the role of blue hydrogen, hydrogen [Read more]
Bonterra urges shareholders to ignore extended hostile takeover bid by Obsidian
CALGARY - Bonterra Energy Corp. says it remains steadfastly opposed to a hostile takeover bid by Calgary oil and gas rival Obsidian Energy Ltd. after the latter extended its share tender deadline on Monday. The target company says in a news release the extension to Jan. 25 from Jan. 4 shows how unsuccessful the offer to issue two Obsidian shares for each Bonterra share has been since it was proposed in August. Bonterra adds that Obsidian's announced reduction of the minimum number of [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 Dec. 21 Journeyman Welder with CWB Certification Roska DBO Grande Prairie Dec. 21 Contract Field Operator Clearview Resources Ltd. Whitecourt Dec. 21 Business [Read more]
Bonterra Energy Corp. continues to recommend shareholders reject the hostile bid and provides operational update
CALGARY, AB - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) ("Bonterra" or the "Company") today acknowledges amendments to the unsolicited offer from Obsidian Energy Ltd. ("Obsidian") to purchase all of the issued and outstanding common shares of Bonterra (the "Hostile Bid") and continues to recommend that Bonterra Shareholders take no action, and REJECT the Hostile Bid by NOT TENDERING their shares. Obsidian's Hostile Bid has proven to be unsuccessful, with Bonterra shareholders [Read more]
Canada criticized for clean fuel rules that hit poorest households hardest
Canada's New Democratic Party (NDP) opposition party criticized on Tuesday freshly-unveiled clean fuel standards, after a government impact analysis said higher fuel costs will hit lower- and middle-income households hardest. The Clean Fuel Standard, a key part of Ottawa's climate plan, was released in draft form last week and aims to reduce the carbon content of liquid fuels, such as those used in transportation and to heat homes. Prime Minister Justin Trudeau's Liberals say it will cut [Read more]
Canadian crude-by-rail exports fall slightly in October to 92,800 barrels per day
CALGARY - Canadian exports of crude oil by rail fell only slightly in October from September, a rare period of stability in a year that's included a record high month as well as one that saw an eight-year low. The Canada Energy Regulator says rail shipments of oil in October amounted to 92,800 barrels per day, down from 94,440 bpd shipped in September, but off by two-thirds from 270,000 bpd in October 2019. Only 39,000 bpd were shipped in July, an eight-year low that was less than a tenth [Read more]
Oil drops as new coronavirus strain triggers demand recovery fears
Oil prices dropped further on Tuesday, adding to steep losses from the previous session, as a new strain of the novel coronavirus in the United Kingdom triggered concerns over fuel demand recovery. The fast-spreading new coronavirus strain has shut down much of Britain, and has prompted several countries to close their borders to British travellers and freight. U.S. West Texas Intermediate (WTI) crude futures fell 77 cents, or 1.67%, to $47.08 a barrel. Brent crude futures were down 72 [Read more]