CALGARY - An executive with Cenovus Energy Inc. says it produced more crude in December thanks to the Alberta government's decision last fall to allow producers to exceed provincial quotas if they move the additional barrels by rail. Executive vice-president Drew Zieglgansberger says the oilsands company met its goal of ramping up its crude-by-rail shipments to 100,000 barrels per day by the end of last month, an accomplishment that he said bodes well for its oilsands expansion plans this [Read more]
Headlines
Ovintiv Posts Anadarko Day Materials; Provides First Look at Strong 2019 Operational Results
Company boosts returns by reducing STACK drilling and completion costs to $6.0 million per well DENVER, CO, Jan. 29, 2020 /CNW/ - Ovintiv Inc. (NYSE, TSX: OVV) released materials associated with its Anadarko Day conference call and webcast, planned for today at 2:30 p.m. MT (4:30 p.m. ET). In addition, initial operating results for 2019 were disclosed with the Company exceeding guidance expectations. To participate in the conference call, dial 866-211-4955 (toll-free in North America) or [Read more]
Premier John Horgan says court rulings on pipelines should be respected
PRINCE GEORGE, B.C. - Premier John Horgan has linked the battles over two major pipeline projects through British Columbia, saying once the legal fight is over, court decisions should be respected. Speaking at a news conference today in Prince George, Horgan said he accepts that the Trans Mountain pipeline expansion has been approved by the courts after the province's recent defeat at the Supreme Court of Canada. In the case of Coastal GasLink's plans for a natural gas pipeline through [Read more]
Frontier oilsands mine might not be built even if permit issued, CEO concedes
BANFF, Alta. - The CEO of Teck Resources Ltd. says it's "anyone's guess" as to whether the federal government will allow his company to build the proposed $20.6-billion Frontier oilsands mine in northeastern Alberta. But Don Lindsay says the lengthy process of getting a permit to build the project near Wood Buffalo National Park didn't cost much and is worthwhile even if the Vancouver-based company ultimately decides not to go ahead with construction. On Tuesday, federal Environment [Read more]
Canadian oil producers prepared for temporary price slump as virus spreads
OTTAWA - Canada's energy industry is not overly alarmed as the new coronavirus coming out of China is taking a bite out of world oil prices. Brad Herald, a vice-president at the Canadian Association of Petroleum Producers, says "there are some short-term jitters" among Canadian producers as they watch global travel slow as a result of the outbreak. But Herald says the impact will be felt only while the virus is still spreading and that the industry has contingency plans for situations like [Read more]
Column: LNG, the “champagne” of fuels, should enjoy its beer moment
It's been an extremely weak start to the new decade for liquefied natural gas (LNG) with spot prices in Asia falling to more than 10-year lows, but it's not all doom and gloom for an industry that sees itself as part of the solution to climate change. The average spot price for LNG delivered to north Asia for March dropped to $4 per million British thermal units in the week to Jan. 24, with some cargoes trading at just $3.95. At below $4 per mmBtu, the spot price is at the weakest level in [Read more]
XI Technologies: 5 Ways to Reduce Your ARO
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. A lot of the conversation around liabilities in the oil and gas industry involves the calculation of those liabilities: how important it is, how you get your numbers, which calculations you can trust, and if those calculations are [Read more]
New Rex Oil Opportunity on PrairieSky Lands Available for Leasing
PrairieSky Royalty has identified over 40 potential horizontal locations targeting Rex-aged Upper Mannville sands in the Westerose area of Central Alberta. Prospective lands are analogous to recent horizontal activity targeting the Rex in the Wizard Lake and Leduc-Woodbend fields. 29° API oil has been produced from the Rex in the Westerose area, as noted in tour reports and pool data for the 102/16-32-044-03W5 horizonal well. 2D Seismic data is also available for viewing over high-graded [Read more]
Point Loma Resources Announces Wizard Lake Transaction Update and Share Issuance
CALGARY, AB - Point Loma Resources Ltd. (TSXV:PLX) ("Point Loma" or the "Corporation") is pleased to provide an update regarding the transaction to rationalize its assets and monetize its working interest at Wizard Lake, Alberta and relating to an issuance of shares to debenture holders of the Corporation. Highlights As per the Corporation's December 24, 2019 press release, Point Loma has completed the first closing of the Wizard Lake transaction (the "Transaction") with the transfer of [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 Jan. 26 Vice President Engineering & Operations LEC Calgary Jan. 25 May 2020 - Bachelor of Science (Environmental/GIS) Student Opportunities TC [Read more]