It’s show time, everyone! Get comfortable, maybe make some popcorn, settle down in front of your electronic device of choice, and watch the world go Boom. Like an uncontrolled nuclear reaction, a meltdown of some sort is underway. That might be a huge helping of hyperbole, but it might not, and part of what makes this all so exciting is that we really don’t know what will happen. We have not been here before. I'm referring to the recent masterfully-orchestrated climate activist agenda, the [Read more]
Headlines
Eagle Energy Inc. Announces Final Approval of the Transfer of Listing from the TSX to the TSX Venture Exchange
Eagle Energy Inc. ("Eagle") is pleased to announce that the TSX Venture Exchange (the "TSX-V") has provided its final approval of the listing of Eagle's common shares as a Tier 2 Oil and Gas Issuer on the TSX-V and the Toronto Stock Exchange (the "TSX") has approved Eagle's application for voluntary delisting of Eagle's common shares from the TSX. Eagle's common shares will be voluntarily delisted from the TSX immediately following the close of trading on October 23, 2019 and will begin [Read more]
Open Letter to Energy Ministers – The True Cost of Electrification for Canadians
Dear Ministers: Across Canada you are all involved in discussions on how to reduce emissions from energy use. Much of the discussion focuses on the idea of finding a single solution, and the one most often proposed is electrification.The proposal begs the question “what are the implications of electrification for our economy, for our energy reliability and environmental performance, and for the affordability of energy for Canadians?” We at the Canadian Gas Association have some initial [Read more]
Oil prices up as U.S.-China trade talks loom, supply issues mount
Oil prices rose on Monday, buoyed by hopes of progress in U.S.-China trade talks and supported by challenges to supply facing major exporters. U.S. West Texas Intermediate (WTI) crudewas at $53.33, up 43 cents or 0.79%. Brent crude rose 28 cents or 0.48% to $58.74 a barrel by 1215 GMT Both futures contracts ended last week with a more than 5% decline after dismal manufacturing data from the United States and China, with the trade row between the world’s top economies undermining global [Read more]
ConocoPhillips Announces 38 Percent Increase in Quarterly Dividend; Expects to Repurchase $3 Billion of Shares in 2020; Reiterates Continued Commitment to Return More Than 30 Percent of Cash From Operations Annually Via Dividend and Buybacks
ConocoPhillips (NYSE: COP) today announced an increase in its quarterly dividend of 38 percent, to 42 cents per share. This represents an annualized increase in the dividend of approximately $500 million. The dividend is payable Dec. 2, 2019, to stockholders of record at the close of business on Oct. 17, 2019. The company also announced that it expects to repurchase $3 billion of its shares in 2020. “This increase in our ordinary dividend reflects the significant transformation our company [Read more]
Kaybob Duvernay Opportunity
Bounty Developments Ltd. is soliciting offers for its 100% working interest in 98.5 sections (63,040 acres) of Duvernay and other PNG rights in the Kaybob area. These are the largest high quality available Duvernay undeveloped land blocks in the Kaybob basin. Well control and extensive geological and petrographic work have de-risked land and show good pay thicknesses, high silica and toc content and other indicia of a world class shale project. Land is in two contiguous blocks of primarily [Read more]
Baker Hughes, a GE company Announces September 2019 Rig Counts
HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for September 2019 was 1,131, down 7 from the 1,138 counted in August 2019, and up 127 from the 1,004 counted in September 2018. The international offshore rig count for September 2019 was 242, down 2 from the 244 counted in August 2019, and up 38 from the 204 counted in September 2018. The average U.S. rig count for September 2019 was 878, down 48 from [Read more]
Norway's largest pension fund KLP exits oil sands companies
KLP, Norway's largest pension fund, will no longer invest in companies deriving their income from oil sands, and recently sold stocks and bonds in such firms worth about $58 million, it said on Monday. KLP's decision affects five companies, which were added to its exclusion list: Canada's Cenovus Energy , Suncor Energy , Husky Energy and Exxon-controlled Imperial Oil , as well as Russia's Tatneft PAO . The fund, which manages over $81 billion in assets, said its new policy was to exclude [Read more]
Regulator-versus-regulator warning issued over gas line to customs office
CALGARY - The latest regulatory battle concerning a cross-border energy pipeline has broken out between two branches of the federal government. The Canada Energy Regulator has fired off a warning letter to the Canada Border Services Agency over "non-compliance" with its pipeline regulations. The complaint concerns a natural gas line that connects to a CBSA customs building on the Canada-U.S. border about 30 kilometres south of the community of Climax, Sask. Because the "pipeline" runs [Read more]
Canada weekly rig count jumps 17 to 144
Canada’s fleet of active drilling rigs increased by 17 since last week according to data from Baker Hughes. Total drilling count was 144 at October 4. 105 rigs were drilling for oil; 39 for natural gas. The drilling activity in both Alberta and Saskatchewan increased, growing from 83 to 94 in Alberta, and 30 to 36 in Saskatchewan. View a full breakdown of Western Canada’s rig activity. [Read more]