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]
Headlines
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]
Alberta premier says cross-country Energy East pipeline remains a possibility
CALGARY - Alberta's premier says new federal Conservative Leader Erin O'Toole was just stating the obvious when he indicated the Energy East pipeline project was off the table in a conversation with the premier of Quebec. Jason Kenney says the proposed cross-Canada pipeline isn't on the table because the federal Liberal government killed it in 2017. Kenney says one of his first calls as premier was to contact his Quebec counterpart and ask him to reconsider his opposition to such a [Read more]
Trans Mountain pipeline expansion on schedule, budget after one year, says CEO
CALGARY - A year after construction was allowed to restart on the Trans Mountain pipeline expansion, it's chief executive says it is on budget and on schedule for completion by the end of 2022. In an interview, CEO Ian Anderson says the project is advancing as expected despite challenges including the COVID-19 pandemic, a global slump in demand for fuel, a $5.2-billion rise in its estimated cost to $12.6 billion in February and ongoing protests by opponents. The expansion project is [Read more]
Moe asks Trudeau to make oil and gas commitment in upcoming throne speech
REGINA - Saskatchewan Premier Scott Moe says he wants to hear the federal government make a commitment to the oil and gas industry in next week's throne speech. Moe has sent a letter to Prime Minister Justin Trudeau and federal opposition leaders outlining what he would like to see addressed. Saskatchewan has no Liberal seats in the House of Commons, and Moe says he wrote the letter with the hope that the province's interests will be represented in the Sept. 23 speech. He says people in [Read more]
Oil rises but bleaker demand outlook weighs
Oil prices rose on Tuesday, but forecasts of a slower than expected recovery in global fuel demand due to the coronavirus pandemic weighed. U.S. West Texas Intermediate (WTI) crude futures were up 52 cents, or 1.4%, at $37.78 a barrel. Brent crude was up 44 cents, or 1.1%, at $40.05 a barrel by 1209 GMT, while Both contracts fell on Monday. The International Energy Agency (IEA) on Tuesday trimmed its 2020 outlook by 200,000 barrels per day (bpd) to 91.7 million bpd, citing caution about [Read more]