Recent changes to the Canadian Oil & Gas Evaluation Handbook (COGEH) consider it a best practice to incorporate abandonment, decommissioning and reclamation costs into reserve evaluation reports. Not only is including environmental liability estimates the right thing to do, but increasingly it is being demanded by investors throughout the world. Sproule does an excellent job of explaining this best practice in their report entitled “Reserves Reporting Best Practice” available [Read more]
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XI Technologies: February 2020 Expiring Land Report – Are there opportunities for you?
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. XI Technologies looks at expiring land every month https://xitechnologies.com/wttw-subscription/?source=ENow_WTTWbecause it can provide useful business development intel for service companies and E&Ps alike. For service companies, [Read more]
Column: So, you want an all-renewable power grid? Think twice
In the poorly understood world of electrical generation and transmission, a strange tale is unfolding. The media won’t touch it with a ten-foot pole, for a number of reasons – first, it is miles over their head, and second, the conclusions run counter to their current bombastic narrative about the “renewable energy revolution”. There is a risk in even discussing the situation, because in the powder-keg debate of climate change vs. lifestyle, the denier police are on high alert to brand your [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 Feb. 3 IT and Business Solutions Manager Vertex Sherwood Park Feb. 3 Electrical Instrumentation & Controls Technician TC Energy Airdrie Feb. 3 Electrical [Read more]
Alberta premier lauds Trudeau after latest Trans Mountain court ruling
EDMONTON - Alberta Premier Jason Kenney applauded a court decision Tuesday clearing another legal hurdle in the Trans Mountain pipeline expansion project and offered some kind words for the prime minister. Kenney acknowledged he has locked horns with Justin Trudeau on many energy issues, but said the prime minister had been as good as his word on the Trans Mountain project. "I have my disagreements with Prime Minister Trudeau on a number of issues ... but I think they did realize there has [Read more]
Heavy discount narrows to smallest discount since November
Canadian heavy crude's discount versus U.S. benchmark West Texas Intermediate (WTI) crude narrowed on Tuesday to the smallest discount since November, as bloated supplies diminished. Western Canada Select (WCS) heavy blend crude for March delivery in Hardisty, Alberta, was trading at $18.25 per barrel below WTI, according to NE2 Canada Inc, narrower than Monday's settle of $19.65 under. Heavy crude traded for a discount as little as $18, the smallest since Nov. 19. Alberta crude [Read more]
Canada’s oil pipeline projects inch forward
Three proposals to expand pipeline capacity to move Western Canada's crude oil have been stalled for years by environmental and indigenous opposition in both Canada and the United States. Lately, the proposals have cleared several obstacles, but others remain. Canadian oil companies such as Canadian Natural Resources Ltd , Suncor Inc and Cenovus Energy say the projects are critical to lifting prices and ending government-ordered curtailments in Alberta. LINE 3 This Enbridge Inc project [Read more]
Saskatchewan premier forms cabinet committee on pipeline expansions
REGINA - Saskatchewan Premier Scott Moe has put together a committee of cabinet ministers to assess how the government could help get more pipelines built in the province. Moe says the ministers are to review potential projects and suggest how the government could advance them, including through possible investment. The ministers of environment, trade and export development, energy and resources, and finance make up the committee. Moe says his Saskatchewan Party government recognizes [Read more]
Court dismisses challenge to Trudeau government approval of Trans Mountain oil pipeline expansion
Canada's Federal Court of Appeal on Tuesday dismissed a challenge to the government of Prime Minister Justin Trudeau's approval of the Trans Mountain oil pipeline expansion, clearing some uncertainty over the project. The court said in a written decision that the government held "reasonable and meaningful" consultations with indigenous groups as required by law. The Honourable Seamus O'Regan, Minister of Natural Resources, today issued the following statement regarding the decision by the [Read more]
U.S. natgas futures edge up from near 4-year low on cooler forecast
U.S. natural gas futures on Tuesday edged up from a near four-year low on forecasts for slightly cooler weather in mid-February than earlier expected. Front-month gas futures for March delivery on the New York Mercantile Exchange rose 1.6 cents, or 0.9%, to $1.835 per million British thermal units (mmBtu) at 7:52 a.m. EST (1252 GMT). On Monday, the contract closed at its lowest since March 2016. That keeps the front-month in technically oversold territory for 11 of the past 12 sessions, [Read more]