VANCOUVER - A British Columbia First Nations coalition says it's disappointed by the news that a second major investor is looking to sell its shares in the Kitimat Liquefied Natural Gas development. Woodside Petroleum Ltd., an Australian company, says it plans sell its 50 per cent stake in the 480-kilometre Pacific Trail Pipeline and the proposed LNG facility at Bish Cove. The First Nations Limited Partnership, which represents 16 First Nations in northern B.C., says the decision to sell [Read more]
Headlines
Talks between Enbridge, Michigan to continue over Line 5 standoff, mediator says
WASHINGTON - The mediator in the dispute between Enbridge Inc. and the state of Michigan over the controversial Line 5 pipeline says the two sides plan to keep talking. Retired U.S. district court judge Gerald Rosen, who was appointed in March to oversee the talks, says the parties discussed a "range of issues" when they met Tuesday. Rosen's three-sentence report filed with the federal court in Michigan says the talks will continue and both sides anticipate further sessions [Read more]
Treeline & West Moberly First Nations form Well Servicing Partnership in NE B.C.
Treeline Well Services LP is pleased to announce it has entered into a partnership with the Dunne Za Economic Development Corporation, a wholly owned subsidiary of the West Moberly First Nations. The community of West Moberly First Nations is located on Moberly Lake in the beautiful Peace River country, approximately 90 kilometers southwest of Ft. St. John. The West Moberly First Nations are comprised of the Dunne-za, Cree & Saulteau peoples and are affiliated with the Treaty 8 Tribal [Read more]
Energy transition clouds oil-gas outlook despite post-pandemic boost
Global energy transition is creating uncertainty for an estimated $14 trillion worth of oil and gas assets that have long depended on an indefinite rise in demand to offset risks despite a pandemic boost this year, consultancy Wood Mackenzie said on Thursday. As the world recovers from the COVID-19 pandemic, oil and gas demand is set to go beyond the record 160 million barrels of oil equivalent per day reached in 2019, it said in a report. "After six years of weaker prices, upstream is [Read more]
Oil falls for third day on rising coronavirus infections, U.S. stockpiles
Oil prices fell on Thursday after a slump in the previous session, as rising U.S. stockpiles added to concerns about a hit to demand from surging coronavirus infections in Asia and possible U.S. rate hikes. WTI fell 63 cents, or 1.01%, to $62.71 a barrel, after a 3.3% drop in the previous session. Brent crude was down 75 cents, or 1.13%, at $65.90 a barrel. "A resurgence in COVID-19 cases across parts of Asia is doing little to support the market in the near term," ING Economics said in a [Read more]
Hemisphere Energy announces 2021 first quarter financial and operating results
Vancouver, British Columbia - Hemisphere Energy Corporation (TSXV: HME) (OTCQX: HMENF) ("Hemisphere" or the "Company") is pleased to provide its financial and operating results for the first quarter ended March 31, 2021. The first quarter of 2021 yielded excellent results for Hemisphere. Production averaged 9% higher than the fourth quarter, as wells started to respond to injector conversions done late in 2020. Production has since climbed even further, averaging over 1,800 boe/d to date in [Read more]
Ovintiv closes Eagle Ford asset sale and announces early redemption of outstanding notes
DENVER - Ovintiv Inc. (NYSE: OVV) (TSX: OVV) today closed its previously announced Eagle Ford asset sale. The proceeds from this sale, combined with those recently received from the Duvernay asset sale, will be used for debt reduction. In addition, the Company today announced that it has issued a notice to the trustee of its 5.75% notes due 2022 to redeem the entire $600 million aggregate principal amount. The outstanding 2022 notes will be redeemed, pursuant to their terms and conditions, on [Read more]
Inquiry into funding of Alberta oil and gas critics granted fourth extension
EDMONTON - Alberta's inquiry into the funding of oil and gas industry critics is getting another deadline extension. Premier Jason Kenney, saying inquiry head Steve Allan needs more time to complete his report, announced the delay on Facebook on Tuesday night. Kenney did not specify how much more time Allan was given, but Energy Minister Sonya Savage says cabinet approved the extension until July 30. Allan, a forensic accountant, was tapped in 2019 to lead the inquiry with an initial [Read more]
Pandemic linked to 15% drop in fossil fuel use in 2020
CALGARY - The Canada Energy Regulator says pandemic lockdowns and travel restrictions that kept Canadians close to home in 2020 resulted in overall consumption of refined petroleum products dropping by about 15% compared to the previous year. In a report that's consistent with updates over the past year from refiners such as Imperial Oil Ltd. and Suncor Energy Inc., the federal regulator says gasoline consumption volumes fell the most in 2020, followed closely by jet fuel, then diesel fuel, [Read more]
Inclusive Energy creates strategic partnerships with ROK Resources and Jayhawk Resources
CALGARY, Alberta -Inclusive Energy Ltd. (“Inclusive”), a leader in the oil and gas services sector, is pleased to announce a strategic partnership with ROK Resources Inc. (“ROK”), whereby Inclusive has invested in ROK as part of a recent private placement financing. ROK is a junior oil and gas producer focused on developing its light oil properties in the Glen Ewen area of southeast Saskatchewan. The investment in ROK is an integral part of Inclusive Energy’s recent initiative to diversify its [Read more]