XI Technologies: Simplifying your bank credit redeterminations Each week, XI Technologies scans their 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. Following the 2019 Redwater ruling, banks began revising the metrics they use to determine the borrowing bases for energy clients. Now, in addition to reserves [Read more]
Headlines
AltaGas’ Third Quarter Results Saw Strong Performance from the Midstream Business Driven by RIPET and the Advancement of its Energy Export Strategy
Company remains on track to achieve 2019 guidance CALGARY, Oct. 30, 2019 /CNW/ - HIGHLIGHTS (all financial figures are unaudited and in Canadian dollars unless otherwise noted) Normalized EBITDA1 was $178 million, compared to $226 million in the prior year, with strong contributions from the Ridley Island Propane Export Terminal (RIPET) ($37 million) being more than offset by EBITDA lost due to asset sales ($93 million) and a one-time adjustment related to the Hearing Examiner's [Read more]
TransGlobe Energy Corporation Announces Third Quarter 2019 Financial and Operating Results for the three and nine months ended September 30, 2019
TransGlobe Energy Corporation (“TransGlobe” or the “Company”) (AIM & TSX: “TGL” & NASDAQ: “TGA”) is pleased to announce its financial and operating results for the three and nine months ended September 30, 2019. All dollar values are expressed in United States dollars unless otherwise stated. TransGlobe's Condensed Consolidated Interim Financial Statements together with the notes related thereto, as well as TransGlobe's Management's Discussion and Analysis for the three and nine month [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 Oct. 29 COILED TUBING OPERATOR - (MHT) Trican Well Service Ltd. Medicine Hat Oct. 28 Reservoir Engineering Technologist Torxen Oil & Gas Ltd Calgary Oct. [Read more]
Saturn Oil & Gas Confirms Commencement of Q4 2019 Drilling Program
Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSXV: SOIL) (FSE: SMK) is pleased to confirm that it has commenced a four well drilling program for the fourth quarter of 2019, along with the issuance of stock options. Q4 2019 Drilling Program The Company is pleased to confirm the commencement of its fourth quarter 2019 drilling program, which will include the drilling, completion, equip and tie-in of four (4.0 net) new extended-reach horizontal (“ERH”) Viking light oil wells in the [Read more]
Alberta tables climate plan for industry; retains key parts of old legislation
Alberta has introduced a new climate plan for the province's big greenhouse gas emitters that it says will achieve similar emissions cuts as the former NDP government's plan and at less cost. "Our projections are that we're looking at getting similar results for less price for industry," said Jason Nixon, environment minister for the United Conservative government. It does not affect the federal consumer carbon tax, which will still go ahead on Jan. 1 and still faces court [Read more]
Column: Plastics producers in danger of becoming household names for all the wrong reasons
By John Richardson, Senior Consultant Asia, ICIS The plastics or polymers industry was for many years a hidden industry. For most of its history, nobody has known much about the plastics business because it is sandwiched between oil and gas and a huge variety of finished goods. The meat cannot be seen because of the high visibility of the bread around the sandwich. But now, for all the wrong reasons, companies which produce the polymers that go into everything from plastic bottles and [Read more]
U.S. natgas futures surge over 6% for second day on cold November forecasts
U.S. natural gas futures surged over 6% for a second day in a row on Tuesday to their highest level in five weeks on forecasts the cold weather blanketing much of the country will remain through at least mid-November. Traders noted if the current cold forecasts hold, utilities will start pulling gas out of storage during the week ended Nov. 8, a week before the five-year average. On their last day as the front-month, gas futures for November delivery on the New York Mercantile Exchange [Read more]
Sojourn Energy Inc.: Saskatchewan Heavy Oil Property Divestiture
Sayer Energy Advisors has been engaged to assist Sojourn Energy Inc. (“Sojourn” or the “Company”) with the sale of its non-core properties in the Plover Lake, Furness and Dulwich areas of southwestern Saskatchewan (the “Properties”). Sojourn is considering the sale of these Properties in order to allow the Company to focus on accelerating growth in its core areas. Total production from the Properties throughout the summer has averaged approximately 251 barrels of oil per day. Each property [Read more]
Oil prices edge lower ahead of U.S. stockpile numbers
Oil prices slipped on Tuesday as investors awaited U.S. crude inventory data for a pointer on oil demand trends, while concerns about slower economic growth overshadowed signs of a thawing in the trade war between Washington and Beijing. U.S. West Texas Intermediate (WTI) crude was down 80 cents at $54.92, after falling 1.5% in the previous session. Brent futures were down 54 cents at $61.02 a barrel, having fallen 0.7% on Monday. Prices rose sharply last week amid a decline in U.S. [Read more]