CALGARY - The CEO of oilsands producer MEG Energy Corp. says polarization of the climate change debate as it relates to the role of the Canadian energy industry indicates an "extreme" lack of leadership from all political parties in Canada. Speaking at the Natural Resources Summit in Calgary, Derek Evans says he's frustrated by the wide gulf in views exhibited by parties in the run-up to the Oct. 21 election. With polls showing the front-running Liberals and Conservatives in a close race, [Read more]
Headlines
Bellatrix Announces Strategic Process and a Court-Supervised Restructuring Proceeding
CALGARY, Alberta, Oct. 02, 2019 (GLOBE NEWSWIRE) -- Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX: BXE) announces the commencement of a sale and investment solicitation process (the “Strategic Process”) to identify and pursue potential strategic options and alternatives with respect to Bellatrix to maximize value for the benefit of the Company’s stakeholders. The Strategic Process will explore a broad range of strategic options and alternatives that may be available to the [Read more]
Cenovus Energy raises dividend, trims capital spending guidance for 2019
CALGARY - Cenovus Energy Inc. is raising its dividend by 25 per cent. The Calgary-based energy company says it will now pay a quarterly dividend of 6.25 cents per share, up from a nickel. Based on the company's closing share price of $12.05 on Tuesday, it will have an annual yield of nearly 2.1 per cent. Cenovus also says it believes it will have capacity for further dividend increases at a potential growth rate of five to 10 per cent annually. The increased [Read more]
Blast Up the Learning Curve on the Emerging Clearwater Oil Play
Is the Clearwater going to be the next Big Oil Play in the WCSB? Sprinkled across a massive 400 km swath running from Jarvie through Marten Hills and Nipisi to Golden, the industry has quietly drilled over 1,100 horizontal laterals into the play that are now producing over 16,000 bopd. The shallow depth, high storage and novel multi-lateral pad drilling provide eye opening economics and suggest the play is “clearly” promising. Canadian Discovery (CDL) has taken a multi-disciplinary approach [Read more]
XI Technologies: Why you need to take more interest in your working interest partners
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. We begin this week’s article with some seemingly simple questions that might be more difficult to answer than you realize: do you know all your working interest partners? Do you know all the inactive wells in which you have a [Read more]
Proposed General Terms & Conditions for Future Fossil Fuel Acquisition and Usage – time to sign on the line and say “I did that”
In the turbulence of modern daily life, a number of factors have emerged as constants. There are of course a great many, but a few in particular have become a staple of the weirdness that is modern life. One of them we can’t help but notice, and the other one we can’t help but ignore. Perhaps there is vast potential in marrying these current cultural oddities. The first factor is, of course, climate change. This past week saw the tension ratcheted up to a near breaking point. The climate [Read more]
Cenovus positioned for $11 billion of cumulative free funds flow through 2024
Company increases dividend by 25% CALGARY, Alberta, Oct. 02, 2019 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced its updated corporate strategy and five-year business plan. Building on the company’s excellent financial performance in the first half of 2019, Cenovus’s strategy through 2024 will focus on sustainably growing shareholder returns and further reducing net debt. The five-year business plan allows for disciplined production growth at Cenovus’s [Read more]
Enbridge Completes Sale of New Brunswick Gas Business
Enbridge Inc. (TSX: ENB) (NYSE: ENB) ("Enbridge" or the "Company") today announced it has closed the previously announced transaction to sell Enbridge Gas New Brunswick Limited Partnership along with its general partner Enbridge Gas New Brunswick Inc. (together "New Brunswick Gas") to Liberty Utilities (Canada) LP, a wholly-owned subsidiary of Algonquin Power & Utilities Corp., for a cash purchase price of CAD $331 million, subject to certain customary adjustments. This asset sale [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 Oct. 1 COILED TUBING OPERATOR Trican Well Service Ltd. Red Deer Oct. 1 Senior Safety & Operational Integrity Advisor Brunel Saskatoon Sep. 30 Financial [Read more]
Kenney pleads for national unity during speech to Calgary business crowd
Alberta Premier Jason Kenney says federal party leaders who would let provinces block new pipelines are ignoring the Constitution. Kenney made a plea for national unity during a speech to a downtown Calgary business crowd while holding a copy of Canada's supreme law. He says Liberal Leader Justin Trudeau's government did nothing to stop British Columbia's roadblocks to the stalled Trans Mountain pipeline expansion project. And NDP Leader Jagmeet Singh came under fire for remarks he made [Read more]