CALGARY - Natural Resources Minister Amarjeet Sohi says the federal government won't cut corners to speed up a full review of the proposed Trans Mountain pipeline expansion. The government bought the pipeline for $4.5 billion last summer only to have the Federal Court of Appeal strike down Ottawa's approval of it. The court said Canada failed to meaningfully consult with First Nations and that the National Energy Board failed to examine how the project would affect the ocean [Read more]
Headlines
November crude-by-rail exports set new record despite slower growth pace
CALGARY - The National Energy Board says crude-by-rail exports from Canada grew at a slower pace in November, but still reached a new record high. Canada exported more than 330,000 barrels per day of oil, up about one per cent from October's total of 327,000 bpd, and more than double the 148,000 bpd moved in November 2017. The slower November growth came after double-digit month-over-month growth in August, September and October. Full export pipelines were blamed for a glut of oil in [Read more]
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TransGlobe Energy Corporation Announces Its 2018 Year-End Reserves
AIM & TSX: “TGL” & NASDAQ: “TGA” This Announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 (“MAR”). Upon the publication of this Announcement, this inside information is now considered to be in the public domain. CALGARY, Alberta, Jan. 24, 2019 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (“TransGlobe” or the “Company”) today announces its 2018 year-end reserves. All dollar values are expressed in United States dollars [Read more]
Trudeau says he and Saskatchewan premier talking despite carbon tax differences
LA LOCHE, Sask. - Prime Minister Justin Trudeau says he continues to work with Saskatchewan Premier Scott Moe despite their differences over the federal carbon tax. Trudeau was asked at a funding announcement in La Loche on Wednesday whether he would try to persuade Moe, who was also there, about the tax. Trudeau said he and Moe have had "many great conversations" on things they agree and disagree on. The two did not meet when Trudeau was in Regina earlier this month, but the prime [Read more]
Despite 60% support, Husky scrapped MEG oil merger
When the final numbers were tallied late last Wednesday for Husky Energy's hostile bid for rival Canadian oil producer MEG Energy, Husky's top executives learned they had the support of nearly 60 percent of MEG shareholders, people familiar with the situation told Reuters. That meant they easily surpassed the 50 percent threshold usually needed to extend their offer and reach the two-thirds mark necessary to win the deal. On Thursday morning, however, Husky walked away, saying it had [Read more]
Property Divestiture: 119307 Alberta Corporation – Dunvegan Area of Alberta
Sayer Energy Advisors has been engaged to assist 119307 Alberta Corporation (“119307” or the “Company”) with the sale of its oil and natural gas property in the Dunvegan area of Alberta (the “Property”). The Property consists of a 0.921% working interest in the Dunvegan Gas Unit No. 1 (the “Unit”), as well as various non-Unit oil and natural gas wells. Recent sales net to 119307 from the Property have averaged approximately 77 boe/d (325 Mcf/d and 23 barrels of oil, free condensate and [Read more]
Crescent Point Receives Approval for Normal Course Issuer Bid
CALGARY, Jan. 23, 2019 /CNW/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is pleased to announce the Toronto Stock Exchange ("TSX") has accepted its notice to implement a normal course issuer bid ("NCIB") to purchase, for cancellation, up to 38,424,678 common shares, or seven percent of the Company's public float, as at January 14, 2019. The NCIB is scheduled to commence on January 25, 2019 and is due to expire on January 24, 2020. "We believe [Read more]
The ultimate field integration tool for the modern industry
In today’s age everyone carries a pocket-sized computer with them – smartphones. These powerful little devices are constantly collecting data, and Cenozon has capitalized on that for the oil and gas industry. Cenozon’s FIND – short for Field Integration and Navigation Data – saves pipeline operators time and money by bringing mobile devices to the oilfield. Built on the latest in GIS technology, every asset is plotted on an intuitive mapping interface. Inspections, maintenance, and [Read more]
XI Technologies: How drilling contractors can dig deeper to win more business
Each week, XI Technologies scans their 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 Wednesday Word to the Wise delivered directly to your inbox, subscribe here Oil price volatility since 2014 has had a tremendous impact on drilling activity and drilling contractors across the WCSB. The Canadian Association of Drilling Contractors (CAODC) drilling forecast for 2019 continues to project [Read more]