CALGARY - Alberta's UCP government says it will end oil curtailment quotas in December, nearly two years after the previous NDP government introduced them to support oil prices. The province says it will extend its regulatory authority to continue the program for another year but doesn't plan to use it after the end of November. It says the monthly curtailments are no longer necessary because 16 per cent of Alberta’s crude oil production is offline, down from 22 per cent at the start of [Read more]
Headlines
Trump, Biden clash over climate, oil industry in final debate
Republican President Donald Trump and Democratic challenger Joe Biden clashed over the country's response to climate change in their final presidential debate on Thursday, which included a stark disagreement over the future of the oil industry. The candidates were asked at their matchup in Nashville, Tennessee, what they would do to combat climate change - the first time in a presidential debate they were not questioned on whether they believed in it or not. "I do love the environment," [Read more]
U.S. natgas futures ease on forecasts for less demand in November
U.S. natural gas futures eased on Friday on forecasts for less demand in early November when expected gas price increases will cause power generators to burn more coal and less gas to produce electricity. That decline came despite the continued rise in liquefied natural gas (LNG) exports and a slowdown in output, which boosted prices to a 20-month high earlier this week. Front-month gas futures fell 3.2 cents, or 1.1%, to $2.975 per million British thermal units (mmBtu) at 8:41 a.m. EDT [Read more]
Canlin Royalty Properties Partnership landsale notice
Canlin Royalty Properties Partnership (“Canlin”), by its Managing Partner, Canlin Energy Corporation, is pleased to announce that the following Petroleum and Natural Gas rights have been posted for Lease at the October 30, 2020 Saskatchewan Landsale. Parcel No.: Legal Description Undivided Mineral Interest W.I. Mineral Rights CEC-2020-04 002-34-W1M Fr W 17; 50% 100% All PNG CEC-2020-05 002-01-W2M SE 13; 50% 100% All PNG CEC-2020-06 002-03-W2M SE [Read more]
Tamarack Valley Energy Ltd. releases inaugural 2020 sustainability report
CALGARY - Tamarack Valley Energy Ltd. is pleased to announce the completion of its inaugural Sustainability Report, outlining the Company's continued focus on environmental, social and governance ("ESG") practices and the increasingly vital role these factors play in Tamarack's strategy. The Company has set commitments and goals related to the focus areas of governance, health and safety, community engagement, indigenous partnerships, people, land and biodiversity preservation, water [Read more]
Kinder Morgan issues 2019 Environmental, Social and Governance report
Report Expands on Methane Emissions Reductions, Community Relations and Biodiversity Programs HOUSTON - Kinder Morgan, Inc. announced today the publication of its 2019 Environmental, Social and Governance (ESG) report. This report builds on our vision as a company to deliver energy to improve lives and create a better world. “We have provided additional ESG-related metrics throughout our report, including our electricity and renewable energy usage, company-wide air emissions and community [Read more]
Ottawa provides $100 million to research ways to cut GHG emissions in oil and gas
CALGARY - The federal government says it will provide $100 million from its strategic innovation fund over four years to accelerate the development and use of technologies to lower the oil and gas industry’s environmental impact. Innovation, Science and Economic Development Canada says the money will be provided to the Clean Resource Innovation Network, a 1,700-member consortium of companies, not-for-profit organizations, government departments and agencies, researchers, academic institutions [Read more]
As popularity slides, Alberta’s Kenney has oil pipeline riding on U.S. vote
The premier of Alberta is losing popularity as the pandemic deepens its economic woes, highlighting the big pipeline bet that Jason Kenney has riding on the U.S. election. Kenney said in March that Alberta would invest C$1.5 billion ($1.14 billion) in TC Energy Corp's Keystone XL (KXL) oil pipeline and back the company's C$6-billion credit facility. The Alberta-to-Nebraska pipeline would widen the province's often-constricted export channels and boost prices, but TC has failed for more [Read more]
U.S. oil refineries slow as gasoline demand softens
By restricting crude processing and focusing on making gasoline, U.S. petroleum refiners have made progress in reducing excess stocks of middle distillates such as diesel and heating oil. In the first half of October, however, the strategy has been challenged by softening domestic gasoline consumption, forcing them to make even deeper cuts in crude processing in an effort to stay on track. The volume of gasoline supplied to domestic users fell in both the two most recent weeks, [Read more]
The Clearwater’s Comeback
As industry continues to endure the chaos of the last six months (not that the last six years have been much of a picnic…), activity is slowly returning to key plays like the Clearwater. Outside of thermal development wells at Cold Lake, the Clearwater went undrilled from early March to mid-August 2020. However, new wells have since been spudded at Nipisi, Marten Hills, Meanook (on the Jarvie trend) and Ukalta (figure 1). Since multi-lateral Clearwater production volumes and rates account [Read more]