Trans Mountain Corp has restarted construction on the Trans Mountain pipeline expansion, the company said on Wednesday, a year after the project stalled because of regulatory delays. The expanded pipeline will nearly triple the flow of crude from Alberta's oil sands to the British Columbia coast but is fiercely opposed by environmental and some indigenous groups. Last year a Canadian court overturned the federal government's 2016 approval of the project on the grounds it had failed to [Read More…]
Headlines
Non-Core Property Divestiture: Dunvegan, Alberta
Sayer Energy Advisors has been engaged to assist a senior oil and natural gas exploration and production company (the “Company”) with the sale of its non-core natural gas property located in the Dunvegan area of Alberta (the “Property”). In the Dunvegan area of Alberta, the Company holds a 4.29% working interest in the Dunvegan Gas Unit No. 1 (the “Unit”), which is operated by Canadian Natural Resources Limited, as well as various other interests surrounding the Unit. A large portion of the [Read More…]
Pembina Pipeline Corporation to Acquire Kinder Morgan Canada and the Cochin Pipeline for $4.35 Billion and Increase Dividend
All financial figures are approximate and in Canadian dollars unless otherwise noted. This news release refers to adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA") and adjusted cash flow from operating activities per share ("adjusted cash flow per share"), which are financial measures that are not defined by Generally Accepted Accounting Principles ("GAAP"). For more information about these metrics, see "Non-GAAP Measures" herein. CALGARY, Aug. 21, [Read More…]
Column: India’s infrastructure requirements are an eye-opening reminder of the world’s staggering demand for all energy sources
I’ve recently succumbed to an infatuation, much like a grade-school crush. Mind you, what is appealing at my current age is markedly different than what was back then; having traversed a generation's worth of the realities of adulthood, and with the prospect of hoping to retire someday, the subject matter of my admiration has shifted. Monumentally. Sadly, and weirdly, my current crush is on a company, or more specifically their stock: Brookfield Infrastructure Partners. This is disturbing in [Read More…]
XI Technologies: How the scheduling and discounting of liabilities affects end of life cost estimates
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 to receive our Wednesday Word to the Wise in your inbox, subscribe here. For the past month, our Wednesday Word to the Wise series has focused on various reasons why the AER’S LLR deemed liability values may not provide an accurate assessment of the actual end of life costs of an oil and gas asset. This [Read More…]
Hemisphere Energy Announces Second Quarter 2019 Financial and Operating Results
Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") announces its financial and operating results for the three months and six months ended June 30, 2019. Q2 2019 HIGHLIGHTS Achieved record revenue of $7.4 million, an increase of 32% over the second quarter of 2018. Realized quarterly funds flow from operations of $2.6 million, a 105% increase over the same respective quarter of 2018. Increased average quarterly production by 30% to 1,367 boe/d (96% oil), [Read More…]
Bellatrix Announces Executive Management Changes
Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX: BXE) announces that Mr. Maxwell Lof will be resigning from his position as the Company’s Executive Vice President & Chief Financial Officer, effective August 31, 2019, to focus on ongoing health issues. Bellatrix also announces the hiring and appointment of Mr. Shane Abel as the Company’s new Executive Vice President & Chief Financial Officer, effective September 1, 2019. Mr. Abel has over eight years of financial [Read More…]
Oil market starts to rebalance at lower prices
Global oil consumption is falling at the fastest rate for almost five years as manufacturing activity and trade flows slip around the world and vehicle production tumbles. Demand in the top 18 consuming countries, each using more than 1 million barrels per day (bpd), fell by almost 0.2% in the three months between March and May compared with the same period a year earlier. Oil use is falling at the fastest rate since the third quarter of 2014, according to national government data [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 Aug. 20 Junior Field Operator Roska DBO Fox Creek Aug. 20 JOURNEYMAN HEAVY DUTY MECHANIC - (GPC) Trican Well Service Ltd. Grande Prairie Aug. 20 JOURNEYMAN [Read More…]
Alberta extends oil curtailments by 1 year, through 2020
The government of Canada’s main oil-producing province, Alberta, said on Tuesday it was extending mandatory curtailments on crude production by an extra year through 2020, because of uncertainty about when expanded pipelines may come online. Alberta’s previous New Democratic Party government imposed production limits in January to drain a glut of oil in storage that built up due to congested pipelines. The curtailments have dramatically reduced a painful discount on Canadian heavy crude, but [Read More…]
