A portion of TransCanada Corp's Keystone oil pipeline and Enbridge's Platte pipeline remained shut on Thursday for investigation of a possible leak in the St. Louis, Missouri, area, officials said.TransCanada shut the pipeline down on Wednesday between Steele City, Nebraska and Patoka, Illinois and dispatched crews to assess the situation, company spokesman Terry Cunha said in an email.The 590,000 barrels-per-day Keystone pipeline is a critical artery taking Canadian crude from [Read more]
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Heavy crude differential widens after part of Keystone line shuts
The Canadian heavy oil differential widened modestly against the West Texas Intermediate (WTI) benchmark on Thursday, after a portion of the critical Keystone pipeline shut down due to a potential leak:* Western Canada Select (WCS) heavy blend crude for March delivery in Hardisty, Alberta, was trading at $9.90 a barrel below WTI crude futures after word of the shutdown spread, wider than earlier trades at $9.40. The spread had settled at $10 below WTI on Wednesday, according to Net Energy [Read more]
Tidewater Midstream and Infrastructure Ltd. – Non-Core Property Divestiture
Sayer Energy Advisors has been engaged to assist Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Company”) with the sale or farmout of certain oil and natural gas interests located in the Montney resource play region of northeastern British Columbia (the “Properties”). The Properties offer production potential from multiple reservoirs alongside key Tidewater infrastructure with substantial drilling upside in the Montney Formation. The Properties are connected to an [Read more]
Clearview Resources – Duvernay Rights for Sale
Clearview Resources holds 100% working interest in 9.5 sections of prospective Duvernay oil rights located in the Northville area of Alberta. It is looking to dispose of these rights through a private land sale process. Please submit bids to Clearview’s land department at land@clearviewres.com. Bids deadline: March 6, 2019 at 12pm Highlights: Clearview’s Duvernay rights are along the Duvernay trend where there has been, and continues to be, a flurry of land sale [Read more]
TransCanada’s Keystone oil pipeline shut after possible leak near St Louis – traders
A part of TransCanada Corp's Keystone oil pipeline was shut on Wednesday after a possible leak in the St Louis, Missouri, area, according to three sources familiar with the matter.It was unclear, however, if the leak was from the Keystone pipeline itself, traders said, adding that the Steele-City-to-Patoka line was shut."The release is stopped," said an official from Missouri Department of Natural Resources, adding that the spill occurred north of the city of St. [Read more]
Perpetual Grows Year-end Reserves and Reports Strong Finding Costs and Recycle Ratio
CALGARY, Feb. 6, 2019 /CNW/ - (TSX:PMT) – Perpetual Energy Inc. ("Perpetual", or the "Company") is pleased to release a summary of the Company's year-end 2018 reserves as reported by the independent engineering firm McDaniel and Associates Consultants Ltd. ("McDaniel"). To preserve value during the low natural gas price environment in Alberta in 2018, Perpetual limited capital spending on natural gas assets, executing a capital program funded through 2018 adjusted funds flow with investment [Read more]
Suncor CEO sees Alberta government oil curtailments ending early
Suncor Energy Inc , one of Canada's biggest oil producers, expects the province of Alberta to end mandatory production curtailments ahead of schedule as they have caused a price boost that makes rail shipments uneconomic, Chief Executive Officer Steve Williams said on Wednesday. Such unintended consequences are happening faster than the Alberta government likely expected, and it should now plan for a "soft exit" from curtailments that is fair to producers, Williams said on a quarterly [Read more]
United States becomes top source for Britain’s oil imports
* Crude oil imports from the United States to Britain in January overtook supplies from other countries for the first time since such shipments began in 2015, data from energy analysts at Kpler showed.* The United States lifted an oil export ban in 2015.* British imports of U.S. oil reached 264,000 barrels per day (bpd) last month, compared with Norway's 181,000 bpd in second place and total imports of 738,000 bpd.* Other top exporters to Britain include Algeria, Russia, Nigeria and [Read more]
Oil slips on API report of U.S. inventory rise
Oil edged lower on Wednesday after a report showed a rise in U.S. crude inventories, countering expectations of a tightening market in 2019 due to OPEC-led supply cuts and U.S. sanctions on Venezuela. U.S. crude inventories rose by 2.5 million barrels last week and gasoline stocks also increased, the American Petroleum Institute said. The government’s official supply report is due out later on Wednesday. “The fact that U.S. crude oil and gasoline stocks rose more sharply than expected, as [Read more]
Hemisphere Energy Provides Operations Update with Record Production of Approximately 1600 boe/d
VANCOUVER, Feb. 6, 2019 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") is pleased to provide an update on its Southern Alberta operations following the 11 well drilling program that was completed in the fall of 2018. Based on field estimates, corporate production during the period of January 28 to February 4, 2019 averaged approximately 1600 boe/d (96% oil). Oil production rates are continuing to improve after bringing certain wells back on production that [Read more]