CALGARY - Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce its unaudited 2019 year-end and fourth quarter financial and operational results and highlights from its independent reserves evaluations effective December 31, 2019. Jeff Tonken, President and Chief Executive Officer of Birchcliff commented: “2019 was an excellent year for Birchcliff. We executed on our capital plan, achieving record annual average production of 77,977 boe/d and record low [Read more]
Headlines
Why are indigenous groups protesting a Canada gas pipeline?
Protests broke out in many parts of Canada over the past week, triggered by arrests of dozens of protesters on traditional indigenous land along a route for TC Energy Corp's planned Coastal GasLink pipeline. The demonstrations have disrupted freight and passenger rail and Canadian Prime Minister Justin Trudeau on Wednesday urged protesters to find a quick solution. WHAT ARE THE PROTESTS ABOUT? The flashpoint was police arrests that started last week in northern British Columbia of [Read more]
Government appoints special mediator in Regina oil refinery labour dispute
REGINA - The Saskatchewan government has appointed a special mediator in a contract dispute that has dragged on more for more than two months at a Regina oil refinery. Labour Minister Don Morgan says veteran arbitrator Vince Ready will try to help the refinery owner and the union for about 700 workers reach an agreement. Federated Co-operatives Ltd. locked out workers Dec. 5 when Unifor Local 594 issued strike notice. Pensions are the main sticking point in the contract fight. Ready, [Read more]
Trudeau urges quick end to protests blocking rail lines
Canadian Prime Minister Justin Trudeau on Wednesday urged those blocking rail lines in protest against the construction of a natural gas pipeline to find a quick solution, as police warned they were ready to step in and end the standoff. Anti-pipeline protesters near tracks in Ontario, Canada's most populated province, disrupted passenger trains and goods transportation for a sixth straight day on Wednesday. The Ontario blockade of the Canadian National Railway (CN) line is in support of [Read more]
Oil jumps as slowdown in new China coronavirus cases eases fuel demand concerns
Oil prices climbed on Wednesday as China reported its lowest daily number of new coronavirus cases since late January, stoking investor hopes that fuel demand in the world's second-largest oil consumer may begin to recover from the epidemic. U.S. West Texas Intermediate (WTI) rose $1.45, or 2.9%, to $51.94 a barrel. Brent crude was up $1.72, or 3.16%, at $55.88 per barrel. According to data through Tuesday, the growth rate of new coronavirus cases in China has slowed to the lowest [Read more]
Cenovus delivers strong 2019 financial and operating performance
CALGARY, Alberta, Feb. 12, 2020 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) continued to gain momentum in 2019, generating free funds flow of $361 million in the fourth quarter and approximately $2.5 billion for the year, reducing net debt by 22% year-over-year and completing construction on its Christina Lake phase G oil sands expansion in March. In the fourth quarter of 2019, Cenovus increased its dividend by 25% and reached full ramp-up of its crude-by-rail shipping [Read more]
Sayer Energy Advisors’ corporate announcement
It is with mixed emotions that I am announcing my retirement from working full time in the oil industry. I've spent close to 40 years in this industry, the last 17 years with Sayer Energy Advisors, and I'm ready to throw the alarm clock into the trash and turn off my electronic devices (except for receiving and looking at pictures of my grandchildren!). I'm sad to think that I won't be working every day with the fantastic team that we've built at Sayer, but I'm happy to know that the ship [Read more]
XI Technologies: The most common issues with drilling data
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. In today’s economy, drilling departments are working with a slim margin for error. Smaller drilling programs working with even small drilling budgets result in greater pressure to reduce well construction costs. More important still [Read more]
OptaSense Announces New Office Locations to Support Growing Business in Canada
CALGARY - OptaSense, a QinetiQ company, a world leader in fiber-optic-based acoustic sensing, recently announced that it has expanded its Canadian presence in order to better serve its growing business in the country. The company, which provides industry leading monitoring services in the upstream and midstream oil and gas businesses, recently moved its location in Calgary, Alberta. The new facility is located at 999 57th Ave NE, next to Calgary International Airport and AB Highway 2. The [Read more]
Is now the time to renounce your US citizenship?
The United States is one of the only countries in the world to tax based on citizenship, which means if you’re a US citizen living outside the United States, you still have yearly IRS tax filing obligations. These tax filing obligations can be an expensive annual hassle (even if you owe no tax) and may even result in double taxation. Fortunately, properly renouncing your US citizenship can provide a way out. Our free seminar covers the following topics of interest: Why do people renounce [Read more]