The second, and final, period to nominate sites for Federal funding under BC’s Dormant Site Reclamation Program (the “Program”) is soon coming to a close. Indigenous communities, landowners and local governments may nominate, through an online process supported by the BC Oil and Gas Commission, specific dormant oil or natural gas sites (Nominated Sites) in their territory or district, or on their property, for consideration for work to be completed under the Program. The deadline for [Read more]
Headlines
Trump administration eyes at least $300 million aid to refiners denied biofuel waivers
The Trump administration is considering at least $300 million in cash aid to U.S. oil refiners that are denied exemptions to U.S. biofuel blending laws for the 2019 compliance year, two sources familiar with the matter said. Although the administration has yet to rule on the 2019 waivers, it has made an estimate for the amount of money it would provide in aid based on the number of facilities that applied for the exemptions but may now be considered ineligible because of a recent court [Read more]
Independent proxy advisory firm ISS recommends Painted Pony shareholders vote for arrangement with Canadian Natural Resources Ltd.
CALGARY, Alberta - Painted Pony Energy Ltd. ("Painted Pony" or the "Corporation") (TSX: PONY) announces today that Institutional Shareholder Services Inc. (“ISS”), a leading independent proxy advisory firm that provides voting recommendations to shareholders and whose analyses and recommendations are relied upon by many major institutional investors, has recommended that Painted Pony shareholders vote in favour of the proposed plan of arrangement with Canadian Natural Resources Limited (“CNRL”) [Read more]
Heavy discount narrows on final day of trading cycle
Canadian heavy crude's discount versus West Texas Intermediate (WTI) narrowed on Wednesday, the last day of the monthly trading cycle. Western Canada Select (WCS) heavy blend crude for October delivery in Hardisty, Alberta, traded at $7.80 per barrel below WTI, according to NE2 Canada Inc. It settled on Tuesday at $8.05 under. The tight spread reflects global tightness in heavy oil supplies as U.S. Gulf Coast refiners seek alternative supplies to replace declining output from Venezuela and [Read more]
Oil rises as storm closes U.S. production, inventories drop
Oil prices rose for a second day on Wednesday as a hurricane closed U.S. offshore oil and gas production and an industry report showed a decrease in U.S. crude inventories. U.S. crude rose $1.77, or 4.65%, to $40.18. Brent crude rose $42.24, or 3.91%, to $42.24 a barrel. Both contracts rose by more than 2% on Tuesday. More than 25% of U.S. offshore oil and gas output was shut and export ports were closed on Tuesday as Hurricane Sally sat just off the U.S. Gulf Coast. "Our current [Read more]
Alberta mineral title for sale
Wabash Oil & Gas Ltd. is offering for sale its 90% interest in two quarter sections of freehold mineral interests, each of which is producing crude oil and generating royalties. These interests comprise all mines and minerals except coal within, upon or under the West Half of Section 33-29-4 W5M comprising gross 128 hectares (320 acres). For the period January 2014 through December 2019, the mineral interests have yielded lessor royalties of $15,540 from one producing well. There is [Read more]
Column: The remarkable power of energetic talent pools – and the energy sector has a great one
A few years ago, a new publishing phenomenon exploded onto bookshelves, an exciting development for music fans. A wave of books from aging rock stars appeared, oddly similar recollections of squalid and sordid lifestyles lived by a “lucky” few who pursued misbehaviour with a vengeance, to the extent their record sales allowed. This circle of musicians seemed to compete with each other to show how badly one could live their life, each reminiscing about the glory days of being shuttled through [Read more]
XI Technologies: Oil and gas acquisition and divestiture strategies are starting to come full circle
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 recent weeks, several high-profile mergers and acquisitions have caught the attention of the industry. These events have served as a beacon, announcing that after several quiet months of recovery from the dual industry crises [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 Sep. 15 Lead Operator AltaGas Gordondale Sep. 15 Analyst, Risk - Confirmations AltaGas Calgary Sep. 10 Control Room Centre Controller TC [Read more]
Column: Modernization of municipal taxation will help Alberta prosper
There was a time when Alberta’s economy was hot! It was fueled by an active and growing energy industry. The result - jobs were plentiful, businesses throughout the province grew, government revenue achieved record levels and we became the place to live and work in Canada. Then slowly everything changed. The price for natural gas began to fall in 2008 and then oil prices plummeted in 2016. Cash flows have dropped, share prices have plunged and access to capital has evaporated. Energy [Read more]