CALGARY, AB - Tourmaline Oil Corp. (TSX: TOU) ("Tourmaline" or the "Company") is pleased to announce that its Board of Directors has declared a quarterly cash dividend on its common shares of C$0.12 per common share. The dividend will be payable on June 30, 2020 to shareholders of record at the close of business on June 15, 2020. This quarterly cash dividend is designated as an "eligible dividend" for Canadian income tax purposes. Tourmaline also announces that the nominees [Read more]
Headlines
Enbridge Line 3 oil pipeline replacement faces new delay over water concerns
A Minnesota pollution regulator said on Wednesday it will hold a public hearing this summer on Enbridge Inc's plan to replace its Line 3 oil pipeline, adding a potential three-month delay and pushing the bulk of construction to next year. The Minnesota Pollution Control Agency (MPCA) said the hearing will focus on how Enbridge intends to protect streams and wetlands that the pipeline crosses. Replacing Line 3, a 1960s-era branch of Enbridge's vast Mainline network, would allow the company [Read more]
Heavy discount widens as oil storage levels ease
Canadian heavy crude's discount widened versus the U.S. benchmark West Texas Intermediate (WTI) on Wednesday as Alberta oil storage levels eased and Enbridge Inc's Line 3 pipeline faced added delays. Western Canada Select (WCS) heavy blend crude for July delivery in Hardisty, Alberta, traded at $8.60 per barrel below WTI, according to NE2 Canada Inc, wider than Tuesday's settle of $7.65 under. Light synthetic crude from the oil sands was trading at $2 below WTI after Tuesday's settle of [Read more]
Oil hits three-month high over hopes for output cuts
Oil rose on Wednesday to a near three-month high amid optimism that major producers will extend production cuts as the world recovers from the coronavirus pandemic. U.S. West Texas Intermediate crude (WTI) gained 9 cents, or 0.2%, at $36.92, also the highest since March 6. The contract ended the previous session up 3.9%. Brent crude was down 22 cents, or 0.6%, at $39.30. Both benchmarks have risen sharply in recent weeks from the lows of April, buoyed by a continuing recovery in [Read more]
Third party pipelines and processors have your oil trapped?
If the facility that you’re tied into is shut-in but you have a well that you still want to produce, an OSY tank package could be the most efficient way to bring the well back on. These packages come complete with everything needed downstream of the wellhead(tank, separator, flare, igniter, flow line and flare line) and are typically set up in 4 hours. Please call Greg at (403) 585-5750 for more information. Below is a list of our current inventory: Quantity of [Read more]
Column: Canadian oil entering a New Brunswick Refinery? Yes, via Panama, but we’ll take it, and thank you Irving for leadership
Four years ago, word of a peculiar commodity marketing phenomenon began seeping out into the general consciousness, one that was the equivalent of South Korea borrowing North Korea’s human rights handbook because they couldn’t find theirs. The phenomenon was that Saudi oil was flowing into a New Brunswick refinery as feedstock. The story unfolded while the Energy East pipeline project was still considered a possibility, and the absurdity of Canada not being able to get its own oil from one side [Read more]
XI Technologies: Open Asset Evaluation for June 2020
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. For this month, XI will examine the property sale by TimberRock Energy. On May 6, 2020 and updated May 20, 2020, TimberRock Energy posted a 100% working interest sales/farmout or other negotiated deal on 98,763 acres of land in Grande [Read more]
Saudi, Russia reach deal on oil cuts, raising pressure on laggards
OPEC leader Saudi Arabia and non-OPEC Russia have agreed a preliminary deal to extend existing record oil production cuts by one month while raising pressure on countries with poor compliance to deepen their output cuts, OPEC+ sources told Reuters. "Any agreement on extending the cuts is conditional on countries who have not fully complied in May deepening their cuts in upcoming months to offset their overproduction," one OPEC source said. OPEC+ agreed last month to cut output by a record [Read more]
Fuelled launches new appraisal services
CALGARY - Today, Fuelled Energy Marketing Inc. (Fuelled) is pleased to announce the launch of its own appraisal service: Fuelled Appraisals (www.fuelledappraisals.com). Since inception, Fuelled has been providing valuation services as part of the Fuelled Certified process. Now with thousands of completed transactions around the world, Fuelled is in an unique position to leverage true empirical data to provide fully accredited valuations on energy equipment. Of the company's recent appraisal [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 Jun. 2 Cost Accountant Brunel Kelowna Jun. 1 Pipelayer Strike Group High Level Jun. 1 Quality Control Inspector Strike Group High Level Jun. [Read more]