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. We begin this week’s article with some seemingly simple questions that might be more difficult to answer than you realize: do you know all your working interest partners? Do you know all the inactive wells in which you have a [Read more]
Headlines
Proposed General Terms & Conditions for Future Fossil Fuel Acquisition and Usage – time to sign on the line and say “I did that”
In the turbulence of modern daily life, a number of factors have emerged as constants. There are of course a great many, but a few in particular have become a staple of the weirdness that is modern life. One of them we can’t help but notice, and the other one we can’t help but ignore. Perhaps there is vast potential in marrying these current cultural oddities. The first factor is, of course, climate change. This past week saw the tension ratcheted up to a near breaking point. The climate [Read more]
Cenovus positioned for $11 billion of cumulative free funds flow through 2024
Company increases dividend by 25% CALGARY, Alberta, Oct. 02, 2019 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) today announced its updated corporate strategy and five-year business plan. Building on the company’s excellent financial performance in the first half of 2019, Cenovus’s strategy through 2024 will focus on sustainably growing shareholder returns and further reducing net debt. The five-year business plan allows for disciplined production growth at Cenovus’s [Read more]
Enbridge Completes Sale of New Brunswick Gas Business
Enbridge Inc. (TSX: ENB) (NYSE: ENB) ("Enbridge" or the "Company") today announced it has closed the previously announced transaction to sell Enbridge Gas New Brunswick Limited Partnership along with its general partner Enbridge Gas New Brunswick Inc. (together "New Brunswick Gas") to Liberty Utilities (Canada) LP, a wholly-owned subsidiary of Algonquin Power & Utilities Corp., for a cash purchase price of CAD $331 million, subject to certain customary adjustments. This asset sale [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. 1 COILED TUBING OPERATOR Trican Well Service Ltd. Red Deer Oct. 1 Senior Safety & Operational Integrity Advisor Brunel Saskatoon Sep. 30 Financial [Read more]
Kenney pleads for national unity during speech to Calgary business crowd
Alberta Premier Jason Kenney says federal party leaders who would let provinces block new pipelines are ignoring the Constitution. Kenney made a plea for national unity during a speech to a downtown Calgary business crowd while holding a copy of Canada's supreme law. He says Liberal Leader Justin Trudeau's government did nothing to stop British Columbia's roadblocks to the stalled Trans Mountain pipeline expansion project. And NDP Leader Jagmeet Singh came under fire for remarks he made [Read more]
TransAlta and SemCAMS Midstream Announce Agreement to Construct and Own a New Cogeneration Plant in Alberta
TransAlta Corporation (TransAlta) and SemCAMS Midstream ULC ("SemCAMS"), a subsidiary of SemGroup Corporation (NYSE:SEMG) announce today that they have entered into definitive agreements to develop, construct and operate a new cogeneration facility at the Kaybob South No. 3 sour gas processing plant. The Kaybob facility is strategically located in the Western Canadian Sedimentary Basin and accepts natural gas production out of the Montney and Duvernay formations. TransAlta will construct the [Read more]
Enbridge asked to add potential oil spill analysis for Line 3 pipeline project
Enbridge Inc needs to add an analysis of potential oil spills into Lake Superior watershed and submit a revised environmental impact statement (EIS) to proceed with its Line 3 pipeline replacement project, a Minnesota regulator said on Tuesday. The order from the Minnesota Public Utilities Commission comes as the company struggles with delays amid ongoing disputes with regulators. Enbridge has 60 days to submit its revised EIS. The commission was ordered to revise Enbridge's EIS for the [Read more]
Canadian Kenwood Company – Property Divestiture
Sayer Energy Advisors has been engaged by Canadian Kenwood Company (“Canadian Kenwood” or the “Company”) to assist with the sale of all of its Canadian oil and natural gas properties, which are located in several areas of Alberta and Saskatchewan (the “Properties”). The Properties provide the Company with long-life, low decline production. In the first half of 2019, production net to the Company averaged approximately 23 barrels of oil per day with minor volumes of natural [Read more]
U.S. shale oil boom ends as lower prices take toll
U.S. oil production growth is decelerating gradually in response to lower prices, which should reduce predicted over-supply in 2020 and force the global oil market back towards balance.Domestic crude production fell 276,000 barrels per day to 11.806 million bpd in July, according to data published by the U.S. Energy Information Administration on Monday.The month-on-month reduction was entirely attributable to the Gulf of Mexico, where output fell 332,000 bpd, because many offshore platforms were [Read more]