FORT MCMURRAY, Alta. - The operator of a work lodge north of Fort McMurray, Alta., says a guest who fell ill last week does not have COVID-19. Houston-based Civeo Corp. said last Friday the worker was taken to hospital with symptoms consistent with the novel coronavirus. Civeo says it has since been informed by the worker, who was staying at the Borealis Lodge by Suncor's base mine, that the test came back negative. Civeo says its team followed stringent protocols and cautiously managed [Read more]
Headlines
Suncor cuts $1.5 billion from budget to cope with low oil prices, virus impact
CALGARY - Suncor Energy Inc. is cutting its 2020 capital spending budget by $1.5 billion or 26 per cent to a range between $3.9 billion and $4.5 billion. The Calgary-based producer and refiner is putting several projects on hold to deal with lower oil prices linked to a market share battle between Saudi Arabia and Russia, and lower demand for its retail fuel because of the COVID-19 pandemic. The shelved projects include a $1.4-billion plan announced in September to install two cogeneration [Read more]
Bankruptcy Sale: Direct Oil & Gas Inc.
MNP Ltd. (the “Trustee”) has been appointed as the Trustee of the bankrupt estate of Direct Oil & Gas Inc. (“Direct” or the “Company”). The Trustee has engaged Sayer Energy Advisors to assist the Trustee with the sale of all of Direct’s oil and natural gas properties. The Company’s assets are concentrated in the northern part of the Peace River Arch in Alberta. The assets include interests in the Cecil, Dixonville, Eureka, Habay, Charlie, Beaton, Worsley, Notikewin, Hotchkiss, Lovet, [Read more]
U.S. oil extends fall as coronavirus shutdowns sap demand
Brent crude prices extended falls on Monday with demand sliding as travel and industrial activity contracted across the globe in a bid to stem the spread of coronavirus. West Texas Intermediate (WTI) crude futures were down 20 cents, or 0.78%, at $23.70 a barrel, having fallen 2 percentage points more than Brent this year. Brent crude futures were up 10 cents, or 0.47%, to $27.72 a barrel by 1223 GMT. The demand destruction caused by the coronavirus pandemic comes as the oil market [Read more]
Column: I hear there’s some bug going around…here’s what to do about it
One gets the feeling that we are going to be a very weird species in a few months after the pandemic is under control (and it will be). A trip to the store for some basic supplies or to a parking lot to buy black-market toilet paper creates a feeling that must have been what French Resistance fighters felt like in WWII. Popping one’s head out is to be placed in imminent danger. We shun other people and scurry to the other side of the street when more than one or two crowd our personal space [Read more]
Get Your Hauling Operations Under Control
The shale boom has created an increase in the number of suppliers and field tickets generated for work performed. Low value, high volume activities are a feature of the shale boom – these are perfect conditions for ticket inaccuracy. Watch the on-demand webinar to learn how recent enhancements to OpenTicket allow operators to ensure hauling tickets are more accurate and prevent loads from being misallocated or under reported. Get an update on the latest from OpenTicket, including practical [Read more]
Chevron Announces Actions in Response to Market Conditions
Reduces 2020 capital spending plan by $4 billion, or 20% Permian production guidance reduced by 20% Suspends share repurchases Actions protect the dividend, prioritize long-term value, and support industry leading balance sheet SAN RAMON, Calif. - Chevron Corporation today announced several steps it is taking in response to market conditions. “With an industry leading balance sheet and a flexible capital program, we believe Chevron is resilient and positioned to withstand this [Read more]
Suncor Energy provides a corporate update including revised 2020 capital program, operating costs and production outlook
All financial figures are in Canadian dollars, unless noted otherwise. CALGARY, Alberta - Suncor released a corporate update today, including revised 2020 corporate guidance for capital, operating costs and production outlook, reflecting the significant decline in the crude oil price and uncertainty surrounding the economic impact of COVID-19. “The simultaneous supply and demand shocks are having a significant impact on the global oil industry. We are adjusting our spending and [Read more]
Petro Ninja announces free online access to WCSB data to help energy companies get back to business
Calgary, AB, Canada, March 23, 2020 – Calgary-based Petro Ninja announced today it is dropping the paywall for two months on the Professional and Enterprise versions of its map-based oil and gas data platform. Petro Ninja hopes that offering free access will help Canadian oil and gas professionals as they scramble to make strategic business decisions while working remotely during the coronavirus pandemic. “Our industry is facing an unprecedented challenge and we couldn’t just sit by without [Read more]
U.S. to send Coates as special energy envoy to Saudi Arabia
The Trump administration will appoint Victoria Coates as a special energy representative to Saudi Arabia as Washington struggles to deal with a global oil price crash that drags on the economy and threatens U.S. energy producers, an Energy Department official said. Coates, who was one of President Donald Trump's longest serving security aides, moved from the White House in February to become a senior adviser to Energy Secretary Dan Brouillette. "Coates will be based in Saudi Arabia to [Read more]