Coastal Gas Link: A project supported by the elected leaders of all 20 First Nations along its route and by most of their people for the opportunities it will bring to an economically depressed region. It's even supported by 8 of the 13 hereditary Wet'suwet'en chiefs who some believe hold rights over traditional territory outside their reserves. A pipeline for natural gas, not oil (which should be obvious from the name), which means leaks/spills from it would be relatively harmless to the [Read more]
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Oil prices fall as market weighs coronavirus demand impact
Oil prices fell on Tuesday, tracking losses in financial markets on lingering concerns over the economic impact of the coronavirus outbreak in China and its effect on oil demand. U.S. West Texas Intermediate crude fell 97 cents, or 1.85%, to $51.35 a barrel. Brent crude was at $56.80 a barrel, down 73 cents, or 1.25%. "Oil prices remain heavy as energy traders may have been overly optimistic as to the crude demand impact of the coronavirus, and in fading optimism that OPEC + will come [Read more]
The latest on protests across Canada in support of anti-pipeline demonstrators
Here is the latest news on protests across Canada over a natural gas pipeline project in British Columbia: Via Rail is preparing to resume part of its passenger rail service as anti-pipeline protests affect many freight and passenger train routes in Canada. The company says it has been notified by Canadian National Railway and partial service will be resume Thursday to and from Ottawa and Quebec City, with a stop in Montreal. Almost all other Via trains, except for the Sudbury-White [Read more]
Recover® Achieves Milestone, Now Offering Industry Significant Cost and Environmental Benefits
Calgary, Alberta – February 18, 2020 – Recover Energy Services Inc. (“Recover”) is pleased to announce its Lodgepole Oilfield Waste Management Facility achieved full engineered capacity in late January. This was a significant milestone for Recover and in an effort to introduce operators to its technology and capabilities, Recover will be hosting a number of open house events in March, April and May, wherein operators are invited to tour our facility and see the technology in action. We [Read more]
Learn how Sproule implemented a fit for purpose field operations service to help a small venture capital team purchase several high-value assets in the WCSB
In addition to lowering G&A by 50% and reducing field operating costs by 60%, Sproule completed a four-step process for managing liabilities and helped the company meet their decommissioning obligations in a safe and cost-effect manner. Read more > https://sproule.com/case-studies/due-diligence-and-field-operations-services-support-corporate-acquisition [Read more]
Trudeau confers with cabinet ministers as rail blockades continue
OTTAWA - Prime Minister Justin Trudeau was in talks over the weekend with federal cabinet ministers as protesters opposed to a pipeline project in British Columbia continued to halt train service across parts of the country. Trudeau's spokeswoman Chantal Gagnon says the prime minister has already spoken to Deputy Prime Minister Chrystia Freeland, Transport Minister Marc Garneau, Public Safety Minister Bill Blair and Carolyn Bennett, the minister for Crown-Indigenous Relations. Gagnon says [Read more]
Alberta premier says ongoing rail blockade risks becoming economic crisis
EDMONTON - Alberta Premier Jason Kenney says protest blockades shutting down rail service across Canada are quickly creating a full-blown economic crisis. Kenney says Canada is a commodity-producing country and most of those go by rail. He says if rail service isn't restored soon, thousands of jobs are at risk because of what he calls "angry fringe groups." The blockades started with a protest by some Indigenous groups over the Coastal GasLink natural gas pipeline that would pass [Read more]
Canada weekly rig count down 2 to 255
Canada’s fleet of active drilling rigs shrank from 257 to 255 since last week according to data from Baker Hughes. Total drilling count was 255 at February 14. 172 rigs were drilling for oil; 83 for natural gas. The drilling activity in Alberta decreased from 167 to 160 since last week. Saskatchewan’s drilling grew from 67 to 72 rigs. View a full breakdown of Western Canada’s rig activity. [Read more]
No mechanical defects on train that derailed in Saskatchewan
The Transportation Safety Board says its investigators have not found any mechanical defects on a train that derailed and spilled oil in rural Saskatchewan. The Canadian Pacific Railway freight train jumped the tracks on Feb. 6 near Guernsey, about 115 kilometres southeast of Saskatoon. The accident sent flames and thick black smoke into the air and spilled 7500 barrels of crude oil. There were no reported injuries, but 85 residents were evacuated from the area for more than 24 [Read more]
U.S. drillers add oil rigs for second week in a row
U.S. energy firms added oil rigs for a second week in a row as crude prices, which have dropped about 15% this year, were set to rise this week as investor concerns began to ease over the long-term economic impact of the coronavirus. Companies added two oil rigs in the week to Feb. 14, bringing the total count to 678, energy services firm Baker Hughes Co said in its closely followed report on Friday. In the same week a year ago, there were 857 active rigs. "Rig activity is biased to the [Read more]