The fierce debate over cross-border pipelines is putting more Canadian oil and gas on trains destined for the United States — a country experts fear is ill-equipped for the potential consequences. It would take an oil-by-rail calamity of a scale comparable to the 2013 Lac-Mégantic disaster in Quebec before Americans wake up to the dangers, U.S. rail safety analysts say. "There's a bullet whizzing past our head," said Eric de Place, an energy policy expert and director at the Sightline [Read more]
Headlines
Innovus convertible frac sleeves deliver impressive bullhead injection distribution in Viking waterflood
Background Waterflooding is a common method of secondary oil recovery in unconventional shales that can boost production and recovery by 20 to 40%. Waterflood effectiveness, however, has been limited by uneven water injection along the lateral, leading to inefficient sweep patterns and “short circuits” that bypass significant recoverable oil. To date, operators have had limited options for managing the injection profile, whether in new-drill or converted production wells. The two most common [Read more]
Volunteering opportunity: Geoscience BC Geothermal Technical Advisory Committee
Geoscience BC is seeking volunteers to join our Geothermal Technical Advisory Committee (TAC), a group of experts that identifies, plans, develops, and reviews our independent, relevant, and public geothermal-related earth science research in British Columbia. Geoscience BC’s Minerals, Oil & Gas, and Geothermal TACs are an essential part of our agile and innovative organization. They generate, solicit, review and recommend proposals for Board approval and their expertise is vital to the [Read more]
Spartan Delta Corp. announces completion of $45 million bought deal financing
CALGARY, AB - Spartan Delta Corp. ("Spartan" or the "Company") (TSXV: SDE); (TSXV: SDE.R) is pleased to announce it has closed its previously announced bought deal public offering of 11,250,000 subscription receipts (the "Subscription Receipts") at a price of $4.00 per Subscription Receipt for aggregate gross proceeds of $45.0 million (the "Prospectus Offering"). The syndicate of underwriters for the Prospectus Offering was led by National Bank Financial Inc. and included Eight Capital, Stifel [Read more]
Hillcrest receives conditional approval for CSE listing
VANCOUVER, B.C. - Hillcrest Petroleum Ltd. (TSXV:HRH) (OTC:HLRTF) (FRA:7HI.F) (“Hillcrest or the “Company”) is pleased to announce that, further to its news release dated September 8th, 2020 in respect of the Company’s plans to delist its common shares (the “Shares”) from the TSX Venture Exchange (the “TSXV”) and move its listing to the Canadian Securities Exchange (the “CSE”), the Company has now received conditional approval to list on the CSE. Further the Company has filed an application to [Read more]
Tamarack Valley Energy announces update on strategic acquisition
CALGARY, AB - Tamarack Valley Energy Ltd. ("Tamarack" or the "Company") (TSX: TVE) is pleased to announce the execution of a definitive agreement with Woodcote Petroleum Inc. ("Woodcote") pursuant to which the Company will acquire all of the issued and outstanding shares of Woodcote, a private company with a 100% operated working interest in Greater Nipisi (the "Acquisition") for aggregate consideration of $43.0 million, comprised of $32.0 million in cash, subject to adjustment, and 4,888,889 [Read more]
Brent cracks $70 for first time since pandemic began after Saudi facilities attacked
Brent crude futures jumped above $70 a barrel on Monday for the first time since the COVID-19 pandemic began, while U.S. crude touched its highest in more than two years, following reports of attacks on Saudi Arabian oil facilities. Brent crude futures for May reached $71.16 a barrel in early Asian trade and were at $70.76 a barrel, up $1.40, or 2%. U.S. West Texas Intermediate (WTI) crude for April rose $1.32, or 2%, to $67.41. The front-month WTI price touched $67.86 a barrel earlier, the [Read more]
Canada unveils GHG reduction credits to boost carbon trading market
Canada released draft regulations on Friday detailing how projects that reduce or remove greenhouse gas (GHG) emissions can earn tradable credits, a major part of the government's climate plan as it aims to cut carbon emissions. Canada, which is the world's fourth-largest oil producer and one of the highest greenhouse gas emitters on a per capita basis, has committed to reducing its climate-warming GHG emissions to 30% lower than 2005 levels by 2030, and is targeting net-zero emissions by [Read more]
Canada’s weekly rig count drops 5 to 172
Canada averaged 172 active drilling rigs this week according to data from the Canadian Association of Oilwell Drilling Contractors. Of those rigs, 102 are drilling for oil, 66 are drilling for natural gas, 3 for other (helium, hydrogen, geothermal, or potash), and 1 is moving. Drilling activity by province is 113 in Alberta, 35 in Saskatchewan, 7 in British Columbia, 2 in Manitoba, and 15 in other. Precision Drilling holds the majority of the Canadian market share with 30 per cent, Ensign [Read more]
AER suspends SanLing Energy Ltd.’s operations
March 05, 2021... The Alberta Energy Regulator (AER) has suspended the licences for all of SanLing Energy Ltd.'s wells, facilities, and pipelines through a reasonable care and measures order. The order requires the company to take a number of actions, including suspending all wells, facilities, and pipelines and ensuring they are left in a state that is safe to the public and environment, complying with past orders to clean up historic spills and contamination, confirming that [Read more]