CALGARY, Alberta, March 19, 2018 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (“Gibson” or the “Company”), (TSX:GEI), announced today it has entered into two separate definitive agreements for the divestiture of its U.S. energy services businesses, including U.S. Environmental Services and its U.S. seismic assets, for approximately US$96 million prior to closing adjustments or approximately $125 million at current exchange rates. “We are very pleased to announce the sales of our U.S. Environmental [Read more]
Headlines
Funds trim bullish oil positions, but no rush for exit: Kemp
LONDON (Reuters) - Hedge funds continue to turn more cautious on the outlook for oil prices, but the liquidation of former bullish positions is very gradual, suggesting most see price risks close to balance. Hedge funds and other money managers cut their net long position in the six most important futures and options contracts linked to petroleum prices by 23 million barrels in the week to March 13. Funds have trimmed their net long position in six of the last seven weeks by a total of 268 [Read more]
India shows crude battle is much more than OPEC vs U.S. shale: Russell
LAUNCESTON, Australia, March 19 (Reuters) - The market narrative consuming crude oil markets currently is the interplay between supply cuts by OPEC and its allies and rising U.S. shale output, with a side helping of Chinese imports driving demand. While there are solid reasons for industry participants to focus on these dynamics, there is also the risk of missing out on other factors that help shape the market. Such a factor is India, which has long flown below the radar of the crude oil [Read more]
Notorious Russian troll farm also took swipes at Canadian targets: oil, PM
WASHINGTON - The same Russian online troll farm that meddled in the American presidential election has also taken swipes at Canadian targets, including oil infrastructure and Prime Minister Justin Trudeau. Evidence is embedded in data made publicly available through investigations in the United States, where congressional probes have been examining Russian information campaigns following the 2016 presidential election. One report from a Republican-led committee in the House of [Read more]
RCMP move to arrest pipeline protesters at entrance to Trans Mountain work site
Authorities in British Columbia arrested anti-pipeline protesters Saturday on Burnaby Mountain, a first in a string of actions demonstrators said they have planned for the coming week. Amina Moustaqim-Barrette, who spoke on behalf of a coalition of demonstrators under the banner Protect the Inlet, said each protester was ready to be arrested to send a clear message against Kinder Morgan's Trans Mountain pipeline expansion project. "The community isn't going to lay down and just [Read more]
Toscana Energy Announces Fiscal Year 2017 Financial Results
CALGARY, Alberta, March 16, 2018 (GLOBE NEWSWIRE) -- Toscana Energy Income Corporation ("TEI" or the "Corporation") (TSX:TEI) announces financial and operating results for the year ended December 31, 2017. Financial and operating results: The following summarizes information contained in the Consolidated Financial Statements and Management’s Discussion and Analysis (“MD&A”) for the year ended December 31, 2017. This news release should not be considered a substitute for reading the full [Read more]
Oil price volatility at lowest since before the slump
LONDON (Reuters) - If the oil market has felt unusually quiet in recent weeks and months, that probably reflects the almost complete lack of sharp daily price movements. While prices have soared by more than 40 percent since the middle of 2017, day-to-day volatility has fallen to its lowest level since 2014, with a relatively smooth and orderly upward adjustment in prices. Short-term volatility has been trending downwards since early 2016 and in January fell to its lowest since August [Read more]
Cenovus seeks partner for $1.3 billion Narrows Lake project
Cenovus Energy Inc is seeking a partner to fund C$1.3 billion in costs to build the supporting infrastructure at its Narrows Lake oil sands project in Alberta, people familiar with the matter said on Friday. Cenovus has been seeking to raise billions to support its projects and reduce its debt burden after its pent C$17 billion on acquiring oil sands and natural gas assets from ConocoPhillips last year. Cenovus earlier this month hired Credit Suisse and RBC Capital Markets as advisers on [Read more]
Canada Weekly Rig Count Down 54 to 219
Western Canada’s fleet of drilling rigs went down 54 rigs to the current count of 219 actively drilling rigs according to data collected by Baker Hughes for the week of March 16th. From one week ago, Alberta rig counts decreased from 187 to 157, the Saskatchewan rig count decreased from 57 to 35. Oil drilling went from 196 to 144; gas rigs went down from 77 to 75. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. drillers add oil rigs for 7th week in eight
U.S. energy companies added oil rigs for the seventh time in the last eight weeks on expectations crude prices in 2018 will top 2017, prompting more drillers to boost spending plans for this year. Drillers added four oil rigs in the week to March 16,bringing the total count to 800, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. The U.S. rig count, an early indicator of future output, is much higher than a year ago when 631 rigs were [Read more]