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. Following a hampered 2020 drilling season due to both a global pandemic and an international commodity pricing war, we’re pleased to highlight recent indicators suggesting positive trends for the Canadian drilling market. Improved [Read more]
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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 Feb. 2 Research Engineer Brunel Calgary Feb. 1 Business Analyst Vertex Sherwood Park Feb. 1 Corporate Accountant Vertex Sherwood Park Feb. 1 Customer [Read more]
MEG Energy announces closing of its offering of senior unsecured notes
CALGARY, AB - MEG Energy Corp. ("MEG" or the "Company") (TSX: MEG) today announced that it has successfully closed its previously announced offering (the "offering") of US$600 million in aggregate principal amount of 5.875% senior unsecured notes due February 2029 (the "notes"). MEG intends to use the net proceeds of the offering, together with cash on hand, (i) to redeem in full US$600 million in aggregate principal amount of its 7.00% senior unsecured notes due March 2024 (the "2024 [Read more]
Oil prices reach highest in nearly a year as producers restrain output
Oil prices rose more than 2% on Tuesday, reaching its highest in nearly 12 months after major producers showed they were reining in output roughly in line with their commitments. U.S. oil gained $1.33, or 2.5%, to its highest since early March at $54.88. Brent crude was up $1.31, or 2.3%, at $57.66 a barrel by 1500 GMT for its third straight day of gains and the highest levels since February last year. OPEC crude production rose for a seventh month in January but the increase was [Read more]
OPEC experts meet as rising oil prices mask demand worries
OPEC+ experts were holding a virtual meeting on Tuesday as a rise in oil prices to their highest in almost a year masked persistent concerns about a recovery in oil demand. The Joint Technical Committee began its meeting at about 1200 GMT and is reviewing the demand outlook and countries' compliance with agreed output cuts. A ministerial panel meets to review the market on Wednesday. Oil, which hit historic lows last year as demand collapsed due to the pandemic, has rallied thanks to [Read more]
Journey Engineering announces the addition of a new VP and Principal, Projects and Engineering
CALGARY, AB – Journey Engineering Corporation (“Journey” or the “Company”) is pleased to announce the appointment of Brent E. Douziech to the position of Vice President and Principal, Projects and Engineering. Brent has over 30 years of cross-sector experience with both public and private companies. Within the EPC sector, he has held leadership roles and guided businesses through periods of transformation. Journey welcomes the addition of Brent to the team where his operations and delivery lens [Read more]
Spectrum Process Systems rebrands back to OPSCO – a tribute to 55+ years of process equipment excellence
CALGARY: January 25, 2021 - Spectrum Process Systems Inc. is pleased to announce their rebrand to OPSCO Process Corp, with a new website at opsco.ca. In 1965, OPSCO (Optimized Process Solutions Co.) opened its doors in Calgary, AB and has since provided 55+ years of industry-leading modular process solutions. Spectrum was founded in 2012 and in 2013 OPSCO and Spectrum combined operations. We have successfully served over 250 clients and delivered 4000+ projects to date, deploying an [Read more]
Imperial Oil reports $1.15B Q4 loss due to a writedown of unconventional assets
CALGARY - Imperial Oil Ltd. reported a loss of $1.15 billion for its fourth-quarter as it took a $1.17-billion non-cash charge related to Canadian unconventional natural gas assets it doesn't think it will ever develop. The company says the loss amounted to $1.56 per diluted share for the quarter compared with a profit of $271 million or 36 cents per share a year earlier. Total revenue and other income amounted to $6.03 billion, down from $8.12 billion. Imperial warned in December that [Read more]
Column: Keystone XL cancellation a wake up call for Alberta
President Joe Biden’s decision to pull the plug on the Keystone XL pipeline is another punch to the gut for Alberta’s economy, but it’s also a good wake up call and provides us with some crucial lessons. The first lesson is straight forward: we need politicians to let businesses build pipelines in Canada. Yanking Keystone XL’s presidential permit wouldn’t have felt like such a blow if we were able to build Northern Gateway and Energy East, or if our political system hadn’t chased away [Read more]
AltaGas announces Board of Director transition
CALGARY, AB - AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA) announces the appointment of a new Independent Director, Jon-Al Duplantier, effective today and the planned retirement of Allan Edgeworth from the Board effective upon the conclusion of AltaGas' next Annual General Meeting of shareholders, to be held in late April of this year. Mr. Duplantier is a recently retired executive who comes with more than 25 years of experience across the energy value chain. Most recently Jon-Al [Read more]