Canoe Financial is the proud presenting partner for Brad Wall's BOEReport.com column Bias confirmation. We’ve all experienced it. Like when we buy a new vehicle, a make and model we haven’t really noticed or favoured before. In fact, in the back of our mind, while we were doing the sales dance in the showroom, the doubts keep creeping in. Why have I never seen any of these out in the street? Why am I thinking about being the first one in the history of ever to buy this vehicle? And then [Read more]
Headlines
New LNG technology developed at University of Calgary touted as greener, cheaper
University of Calgary researchers focused on nanotechnology say they have developed a cheaper and more environmentally friendly way to create liquefied natural gas. Associate professor Nassar Nashaat and student Arash Ostovar say the Split Flow Integrated LNG process they developed and patented uses specialized materials and chemistry to remove carbon dioxide and other impurities from the natural gas stream without having to cool and then warm the gas as is done now in the leading LNG [Read more]
Canada weekly rig count continues to fall, down 15 to 119
Canada’s fleet of active drilling rigs reached a 2 month low, decreasing by 15 from last week according to data from Baker Hughes. Total drilling count was 119 at September 20. 82 rigs were drilling for oil; 37 for natural gas. Both Alberta and Saskatchewan's drilling decreased, with Alberta’s fleet shrinking from 86 to 77, a loss of 9 wells. Saskatchewan decreased by 5 to 30. View a full breakdown of Western Canada’s rig activity. [Read more]
U.S. oil drillers cut rigs to lowest since May 2017 -Baker Hughes
U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row to the lowest since May 2017, even as crude prices jumped more than 7% this week after an attack halved output in the world's top oil exporter Saudi Arabia. Drillers cut 14 oil rigs in the week to Sept. 20, bringing the total count down to 719, 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 866 active [Read more]
Oil heading for 7% weekly gain after Saudi attacks
Oil prices were on track to jump more than 7% this week, their biggest weekly gain in months, on rising Middle East tensions after a key Saudi Arabian supply hub was knocked out in an attack last weekend. A Saudi-led coalition launched a military operation north of Yemen’s port city of Hodeidah, as the United States worked with Middle East and European nations to build a coalition to deter Iranian threats after the Saudi attack. U.S. West Texas Intermediate (WTI) crude futures rose 59 [Read more]
PSAC Meets with Business Leaders in Ontario for a Critical Discussion on the Future of Energy in Canada and Across Ontario
The Petroleum Services Association of Canada (PSAC) met with business leaders gathered and hosted by the Vaughan Chamber of Commerce for a roundtable discussion. The conversation focused on the benefits to all Canadians of supporting the energy industry. “The understanding amongst the Chamber’s business leaders today about the significance of the Canadian supply chain for oil and natural gas that employs over 450,000 people from coast to coast to coast was evident,” said Gary Mar, President [Read more]
Saudi Aramco confident full output from Khurais to resume by end of Sept
Saudi Aramco is confident full production will resume by the end of September from Khurais, one of two oil sites attacked about a week ago, a company executive said on Friday. Aramco was shipping equipment from the United States and Europe to rebuild the damaged facilities, Fahad Abdulkarim, Aramco's general manager for the southern area oil operation, told reporters on a tour organised by the state company. Reuters reporters were shown repair work under way, with cranes erected around two [Read more]
8th Annual Free Hockey Draft For The Oil And Gas Industry
Free hockey draft put on by OSY Rentals, Rival Hydrovac, and BOE Report. Deadline to enter is Wednesday, October 2nd. Takes less than 2 minutes to complete No need of hockey knowledge (pick one player from a box grouped with players of the same level) Weekly prizes for the winner and loser Random weekly prizes Grand Prize of 2 tickets, flights and hotels to any NHL playoff game Any questions please contact Greg Cairns at greg@osyrentals.com More information on [Read more]
U.S. natgas futures fall over 3% on bigger-than-expected storage build
U.S. natural gas futures fell more than 3% from a near five-month high on Thursday following the release of a report showing a bigger-than-expected storage build. The U.S. Energy Information Administration (EIA) said utilities added 84 billion cubic feet (bcf) of gas to storage during the week ended Sept. 13. That was higher than the 78-bcf build analysts forecast in a Reuters poll and compares with an injection of 84 bcf during the same week last year and a five-year (2014-18) average [Read more]
Column: Climate crisis solved! A quick, socialist-friendly path to environmental nirvana. Who could complain?
As we enter 1984, metaphorically speaking, I realized I’ve had enough of the climate madness. Not just the mass delusion (the equivalent of Y2K times the dot-com boom times Beatlemania), but the whole topic, a twisted mess of ideology, speculative science, and fear. "The science is settled" vs. "no one will give up lifestyle". Science/lifestyle, back and forth for eternity. Elon Musk’s marketing/engineering genius is now a symbol for those who want to destroy the fossil fuel industry, despite [Read more]