Businesses need help, but it’s important to provide the right help the right way. Premier Jason Kenney’s economic strategy has so far revolved around three core principles: lowering taxes, cutting red tape and pushing back against Ottawa. Kenney should double down on these principles to help Alberta recover and stay away from corporate welfare. “The most robust economies are built on the effort, investment and ambition of citizens and businesses that are prepared to take risks to create [Read more]
Headlines
Tidewater Midstream and Infrastructure Ltd. announces definitive agreement to sell the Pioneer Pipeline and second quarter dividend
CALGARY, AB - Pioneer Pipeline Disposition – Definitive Agreement Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Corporation") (TSX: TWM) is pleased to announce that, with its partner TransAlta Corporation ("TransAlta"), it has entered into a definitive Purchase and Sale Agreement with respect to the previously announced sale of the Pioneer Pipeline to NOVA Gas Transmission Ltd., a wholly-owned subsidiary of TC Energy, for total cash consideration of $255.0 million (the [Read more]
Tired of polarization over federal aid for oil & gas companies, students’ letter urges Prime Minister to support future energy jobs
CALGARY, AB - As university students across Canada express a growing displeasure with the polarized battles over COVID-related government aid for oil and gas companies, two Edmonton graduate students are doing something about it – and they're asking others to join them. Skye Lybbert and Daniel Baker, both MSc candidates at the University of Alberta's Department of Earth and Atmospheric Sciences, recently co-wrote a constructive, fact-based letter to Prime Minister Justin Trudeau. Their [Read more]
Toscana Energy provides further update on continuous disclosure filings
CALGARY, Alberta - Toscana Energy Income Corporation ("Toscana" or the "Corporation") (TSX: TEI) announces that, further to its May 14, 2020 news release, Toscana will be postponing its reporting of the Corporation’s first quarter financial statements, accompanying management's discussion and analysis, and related certifications for the period ended March 31, 2020 (the "Q1 Filings"), to June 26, 2020. This news release is being issued in accordance to the blanket relief of a 45-day extension [Read more]
Enbridge says 800 staff have taken voluntary buyouts offered to cut costs
CALGARY - Enbridge Inc. says 800 employees have voluntarily left the company, allowing it to avoid layoffs as it cuts costs to counter impacts from COVID-19 and lower global oil prices. The Calgary-based pipeline company announced in May it would defer $1 billion in capital spending this year and reduce costs by $300 million through measures including salary cuts and voluntary staff reductions. Spokesman Jesse Semko confirmed that 800 staff have taken up options including early retirement, [Read more]
Coastal GasLink set to lay first pipe as it ramps up LNG pipeline construction
VANCOUVER - Coastal GasLink says it is ready to launch its summer construction program in British Columbia, which will see the first section of pipe buried in the ground next month. The company says in a statement that construction also begins this summer on a compressor and metering stations that will form anchor points along the 670-kilometre pipeline running from the Dawson Creek area to Kitimat. Work on the main compressor station is slated to begin in July and the company says [Read more]
U.S. shale companies to boost oil output by 500,000 bpd by month-end
U.S. shale producers are expected to restore roughly half a million barrels per day (bpd) of crude output by the end of June, according to crude buyers and analysts, amounting to a quarter of what they shut since the coronavirus pandemic cut fuel demand and hammered oil prices. Such a swift rise in U.S. production would complicate efforts by top producers Saudi Arabia and Russia to encourage global allies to fulfill their pledges to make record production cuts. They, along with allies in a [Read more]
Oil slumps as U.S. crude stocks build amid virus resurgence fears
Oil prices fell on Wednesday as data showed an increase in U.S. crude and fuel inventories, raising the prospect of oversupply as a potential second wave of the coronavirus pandemic threatened to halt any recovery of demand. U.S. West Texas Intermediate (WTI) futures fell 2 cents, or 0.07%, to $37.89 a barrel. Brent crude futures were down 8 cents, or 0.25%, at $40.60 a barrel. Both benchmarks rose more than 3% on Tuesday, after the International Energy Agency (IEA) raised its 2020 [Read more]
Parsley Energy digitizes entire completions operations with Cold Bore Technology’s SmartPAD
Technology deployments lead to efficiency increases of 22% through optimized operations in most recent quarter CALGARY, AB – 16th June, 2020 - Cold Bore Technology Inc. (“Cold Bore”), a leader in completion optimization technology, announced today that existing client, Permian-based oil and natural gas producer, Parsley Energy (Parsley), has digitized its entire completion operations with the SmartPAD operating system. Having carried out its first SmartPAD deployment in December 2019, [Read more]
Column: Alberta Carbon Trunk Line, Nikola’s order book, and other meaningful numbers hidden in the fog
It may be hard to believe in these crazy times, but day in and day out, there really isn’t a lot happening to liven up news streams. That’s the price of having live news feeds; eyeballs will wander somewhere else if there isn’t a new starburst of eye candy every ten minutes. One oddity to fall out of this is how we get all excited about certain numbers, even if they don’t mean anything. Sometimes it’s when numbers cross a certain threshold. The Dow Jones hits 20,000, and it makes headlines – but [Read more]