Alberta's decision to mandate output cuts to reduce a supply glut will have negative effects on North American producers of lighter oil used for blending and U.S. refiners importing crude via rail, even as several major Canadian energy companies cheered the move. Canada's oil production is at a record 4.6 million barrels a day, but producers cannot get oil to market because the pipelines that cross into the United States are full. Pipeline construction, particularly in Canada, has not kept up [Read more]
Headlines
Innovative Solution Delivers Additional Natural Gas to Eastern Markets on Canadian Mainline
CALGARY, Alberta, Dec. 05, 2018 (GLOBE NEWSWIRE) -- News Release – TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced that it has secured 675,000 gigajoules (GJ) (630 million cubic feet) per day of new natural gas transportation contracts from the Western Canadian Sedimentary Basin (WCSB) on TransCanada’s Canadian Mainline. Its North Bay Junction Open Season resulted in long-term, fixed-priced contracts for service that will reach markets in Ontario, Quebec, the Maritimes [Read more]
XI Technologies: December 2018 Expiring Lands Report: Are there opportunities for you?
This week let's take a look at expiring lands. According to AssetBook data, these are the top 25 companies with expiring lands over the next six months. From this data, AssetBook allows you to easily identify and rank expiring lands based on the size of bonuses paid. This will help you prioritize companies who have the most money on the line and therefore may be more open to farm-in or partnership opportunities. E&Ps – could there be farm-in opportunities or land coming [Read more]
Canadian Natural Resources Limited Announces 2019 Budget
CALGARY, Alberta, Dec. 05, 2018 (GLOBE NEWSWIRE) -- Commenting on the Company’s 2019 budget, Steve Laut, Executive Vice-Chairman of Canadian Natural stated, “Canadian Natural’s large, diverse, balanced and flexible asset base provides a unique opportunity for the Company to allocate capital to the highest return projects to maximize shareholder value. Canadian Natural’s robust, long life low decline assets allow us to target for the foreseeable future, a long-term production per share growth [Read more]
B.C. to introduce clean climate plan as carbon-emitting LNG industry grows
VANCOUVER - British Columbia is poised to announce its plan to fight climate change while it accommodates the carbon polluting liquefied natural gas industry. Premier John Horgan and Green Leader Andrew Weaver are expected to introduce the government's long-term strategy to reduce greenhouse gas emissions through a wide-ranging provincial transition to a low carbon economy. Environment Minister George Heyman, Energy Minister Michelle Mungall, Weaver and Horgan have scheduled a noon news [Read more]
How one company financed growth in today’s oil patch without debt or equity
For Travis Anderson at All West Crane and Rigging, a BC based company that rents cranes to clients in a wide variety of industries including oil and gas, the timing was right. “The turning point really was when we won some large projects,” he says. “We needed the start up capital which we could only do by factoring our receivables. And being a new growing company, we didn’t have the equity to go to the bank and ask for the funds.” It takes creativity to address the many challenges faced in a [Read more]
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 Dec. 4 ACCOUNT MANAGER/OPERATIONS SPECIALIST, INDUSTRIAL SERVICES - CENTRAL & EASTERN CANADA Trican Well Service Ltd. Hamilton Dec. 1 Plant & Field [Read more]
Two key Canada-to-U.S. oil pipelines hit by disruptions
Two major pipelines bringing oil from Canada to the United States were hit by disruptions on Tuesday, with TransCanada Corp's Keystone line shutting down, while Enbridge Inc's Mainline pipeline was hit with outages and reduced flow rates.TransCanada's 590,000 barrel-per-day crude Keystone pipeline was shut due to a third party utility issue, according to a shipper on the line and traders. There was no estimated restart timeline for the line, one source said, citing a notice to [Read more]
Gibson Energy Announces 2019 Capital Budget
All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta, Dec. 04, 2018 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (“Gibson” or the “Company”), (TSX: GEI), announced today that its Board of Directors has approved a 2019 growth capital expenditure budget in the range of $200 million to $250 million, with nearly all investment directed towards sanctioned growth projects. Additionally, the Board of Directors has approved the allocation of approximately $30 million to $35 [Read more]
Put oil ‘crisis’ on first ministers’ agenda: Alberta, Saskatchewan premiers
Alberta and Saskatchewan want issues facing the oilpatch to be on the agenda when premiers meet with the prime minister later this week. Alberta Premier Rachel Notley and Saskatchewan Premier Scott Moe have made the request in an open letter to Justin Trudeau. They say the current agenda does not include any discussion of a crisis facing the energy industry. Alberta's oil is currently fetching bargain basement prices thanks to a growing glut and lack of pipeline capacity to get oil to [Read more]