There's still time to join the SPE/CHOA Slugging It Out Conference taking place 16 April 2019. If you're part of the heavy oil community, then this valuable, one-day conference is the place to be to learn, share, connect, and network. Highlights of the day’s events include: An Opening Keynote presentation discussing Rail's Role in Accessing the Market, featuring Keith Chiasson, Executive Vice President Downstream, Cenovus Energy Inc. Technical presentations from Acceleware, Aucerna, [Read more]
Headlines
John Robson: How would you know?
A lot of people know that man-made CO2 controls climate change, we're in the midst of unprecedented and dangerous warming, and only a handful of oil-funded skeptics claim otherwise. They’ve been told it ad nauseum by every level of authority in society for the past decade. But what if they hadn’t? How would they know? Looking out my window in Ottawa, where it snowed yesterday and today and we tied the record for most days with at least 10 cm of snow cover, just in time for the new carbon tax [Read more]
Kenney and United Conservatives promise $714-million budget surplus by 2023
CALGARY - The United Conservatives are promising to get Alberta's books out of the red and into a $714-million surplus by 2023 — a year earlier than the NDP. The party also says if it wins the spring election, it will raise Alberta's debt level to $86 billion over that time period, a figure that is well below current government projections. "This is a very mainstream, balanced approach to gradually getting to balance without any absolute reductions in spending," UCP Leader Jason Kenney [Read more]
Trump issues new permit for stalled Keystone XL pipeline
WASHINGTON - In an apparent bid to kick-start the long-stalled Keystone XL oil pipeline, President Donald Trump on Friday issued a new presidential permit for the project, two years after he first approved it and more than a decade after it was first proposed. Trump said the permit issued Friday replaces one granted in March 2017. The order is intended speed up development of the controversial pipeline, which would ship crude oil from tar sands in western Canada to the U.S. Gulf Coast. A [Read more]
Canada Weekly Rig Count Down 17 to 88
Western Canada’s fleet of drilling rigs decreased by 17 rigs to a total of 88 according to data collected by Baker Hughes for the week of March 29th. From last Friday, Alberta rig counts went from 85 to 68. Saskatchewan's rig count from 3 to 2. Oil drilling went from 49 to 35; natural gas rigs went from 56 to 53. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. drillers cut most oil rigs in a quarter in three years
U.S. energy firms this week reduced the number of oil rigs operating to their lowest in nearly a year, cutting the most rigs in a quarter in three years despite a 30 percent hike in crude prices so far in 2019.Drillers cut eight oil rigs in the week to March 29, bringing the total count down to 816, the lowest since April 2018, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. That is the first time the rig count declined for six [Read more]
Michigan pipeline replacement setback raises fears for existing conduit
CALGARY - A move by the governor of Michigan to halt work on a project to replace Enbridge Inc.'s 65-year-old Line 5 pipeline is raising fears that the recently elected Democratic administration could also try to shut down the existing pipeline. Analyst Matthew Taylor of Tudor Pickering Holt & Co. says that could result in crude supply disruptions for refineries in southern Ontario and Quebec and could also reduce oil pipeline takeaway capacity from Western Canada. On Thursday, [Read more]
Bellatrix Announces Recapitalization Transaction
CALGARY, Alberta, March 29, 2019 (GLOBE NEWSWIRE) -- Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX: BXE) announced today a proposed recapitalization transaction (the “Recapitalization Transaction”) designed to improve and strengthen the Company’s overall financial position and which, among other things, would: Reduce the Company’s total outstanding debt by approximately C$110 million (approximately 23%) and reduce annual cash interest payments by over C$12 million [Read more]
Razor Energy Corp. Announces Fourth Quarter and 2018 Year End Results
CALGARY, Alberta, March 28, 2019 (GLOBE NEWSWIRE) -- Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) (www.razor-energy.com) is pleased to announce its fourth quarter and year end 2018 financial and operating results. Selected financial and operational information is outlined below and should be read in conjunction with Razor’s audited consolidated financial statements and management’s discussion and analysis for the year ended December 31, 2018, which are available on SEDAR at [Read more]
Enbridge Responds to Michigan Attorney General’s Opinion and Governor’s Executive Directive
CALGARY, March 28, 2019 /CNW/ - After reviewing the statement issued by Michigan Attorney General Nessel and Governor Whitmer's executive directive, Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge or the Company) is surprised and disappointed they have taken this position with respect to the legislation when the Straits tunnel project will further enhance the safety and reliability of a critical piece of infrastructure that supports the State, its communities and the environment. We intend [Read more]