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]
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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]
U.S. oil drillers cut rigs for seventh week in a row
U.S. energy firms this week reduced the number of oil rigs operating for a seventh week in a row as producers follow through on plans to cut spending on new drilling this year. Drillers cut 3 oil rigs in the week to Oct. 4, bringing the total count down to 710, the lowest since May 2017, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. In the same week a year ago, there were 861 active rigs. The oil rig count, an early indicator of [Read more]
Investigation finds misuse of funds, scant oversight at Alberta Energy Regulator
A government investigation concludes the former head of the Alberta Energy Regulator grossly mismanaged public funds in a scandal that has left taxpayers about $2.3 million out of pocket. The findings were announced by Alberta's auditor general Doug Wylie, public interest commissioner Marianne Ryan and ethics commissioner Marguerite Trussler. The investigation revolved around the activities of Jim Ellis and other executives with the energy regulator between 2017 and 2018. A report says [Read more]
Manitoba, South Manson – Lodgepole Summary
Elcano Exploration Inc. is seeking proposals from qualified parties to further develop our prospective Lodgepole and Bakken lands in the greater Manson area. Elcano has a proprietary 8 square mile 3D seismic program over the entire South Manson prospect and has drilled a vertical test well at 15-22-12-28W1M. Results from the well and seismic interpretation support an extensive Lodgepole Fm Daly Mbr oil trend over Elcano lands (~3,000 net acres). Proposals to develop Elcano prospects with [Read more]
Strategic Oil & Gas Ltd. Announces Management and Board Changes
Strategic Oil & Gas Ltd. (TSXV: SOG) ("Strategic" or the "Company") is pleased to announce that William Lancaster will be joining the Company as President and Chief Executive Officer effective October 17, 2019. Mr. Lancaster is currently the President and a member of the Board of Directors of GMT Exploration LLC ("GMT Exploration"), a private oil company based in Colorado. The Chairman of the Board of Directors of Strategic is a significant shareholder and member of the Board of Directors [Read more]
Tidewater Midstream and Infrastructure Ltd. Announces Strategic Expansion of its Liquids Value Chain with the Acquisition of Prince George Refinery including a Five-Year Investment Grade Product Offtake Agreement which results in over 50% Accretion
CALGARY, Oct. 4, 2019 /CNW/ - Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Company") (TSX: TWM) is pleased to announce that it has entered into a purchase and sale agreement ("PSA") to acquire Husky Energy Inc.'s ("Husky") light oil refinery located at Prince George, British Columbia ("B.C.") (the "Acquisition") thereby expanding Tidewater's liquids value chain. The Prince George Refinery ("PGR") is a 12.0 Mbbl/d light oil refinery that predominantly produces low [Read more]
Husky Energy Announces Agreement to Sell Prince George Refinery
CALGARY, Alberta, Oct. 04, 2019 (GLOBE NEWSWIRE) -- Husky Energy (TSX:HSE) today announced it has reached an agreement for the sale of its Prince George Refinery to Tidewater Midstream and Infrastructure for $215 million in cash plus a closing adjustment for inventory, and a contingent payment of up to $60 million over two years. Husky previously announced it was considering selling the Prince George Refinery to focus on its Integrated Corridor and Offshore businesses. The Integrated Corridor [Read more]
Oil climbs but still set for big weekly loss over demand worries
Oil futures were higher ahead of the weekend but remained on track for large weekly losses on fears that slower global economic growth will hurt fuel demand, even as Saudi Arabia said it has fully restored oil output after recent attacks. U.S. West Texas Intermediate (WTI) crude futures rose 88 cents, or 1.6%, to $53.16. Brent crude oil futures rose 87 cents, or 0.5%, to $58.71 a barrel by 0450 GMT "Asia will probably see some buying emerge over the session as traders hedge potential [Read more]
Syncrude oil sands project cuts October sales by 1.4 million barrels
The Syncrude oil sands project in northern Alberta has cut October synthetic crude sales by 1.4 million barrels because planned maintenance at the plant has been extended, three market sources said on Thursday. Syncrude is a joint-venture bitumen mining and upgrading project, majority owned by Suncor Energy . Syncrude did not immediately respond to a request for comment. The 350,000 barrel-per-day Syncrude plant had maintenance planned for the third and fourth quarters of 2019, according [Read more]