Shares in Canadian pipeline operator Enbridge Inc fell 6 percent on Monday after disclosing an almost yearlong delay to the start of its Line 3 crude oil pipeline, which would carry heavy Canadian oils to the U.S. market. The delay is another blow to the Canadian oil industry, which has faced bottlenecks in bringing heavy crude to the United States that weighed on Canadian crude prices and prompted the Alberta government to order a cut in production to support oil prices. Enbridge shares [Read more]
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Delphi Energy Corp. Reports 2018 Year End Reserves
CALGARY, Alberta, March 04, 2019 (GLOBE NEWSWIRE) -- Delphi Energy Corp. (“Delphi” or the “Company”) is pleased to announce its crude oil and natural gas reserves information for the year ended December 31, 2018 and provide an operations update. HIGHLIGHTS Successfully explored and delineated the Montney at West Bigstone with a drilling program that consisted of twelve (7.8 net) horizontal wells and brought on production twelve (7.8 net) horizontal Montney wells through significantly [Read more]
Enbridge:Line 3 replacement likely won’t be in service until second half of 2020
CALGARY - A pipeline that Alberta has been counting on to ease the bottleneck in moving its crude oil to foreign markets won't be in service for at least another year, according to its owners. Enbridge Inc. says in a news release that the timeline for construction of the Line 3 replacement likely won't see the pipeline operational until the second half of 2020. Just two weeks ago, the Calgary-based company expressed confidence that the project would be in service by the end of [Read more]
New impact assessment bill for energy projects to get major changes in Senate
OTTAWA - The federal government's promised overhaul of environmental evaluations for energy projects is poised for a major Senate surgery, but the upper chamber must race to pass the bill before an election guillotine sends it to the shredder. Bill C-69, the Impact Assessment Act, fulfils a Liberal campaign promise to change how major energy projects get reviewed for their environmental, social and economic effects, with the aim of speeding up reviews and making their criteria [Read more]
TransCanada to raise spot rates to ship crude on Keystone pipeline to U.S.
TransCanada Corp filed with the U.S. energy regulator on Friday to increase spot rates on its Keystone crude pipeline from Manitoba and Alberta to key markets in the U.S. Midwest and Gulf Coast. All increases will be effective April 1, according to filings with the U.S. Federal Energy Regulatory Commission. Canada's main oil-producing province of Alberta on Thursday raised the amount of crude that companies can produce in April to 3.66 million barrels per day, an increase of 100,000 bpd [Read more]
U.S. oil rig counts falls to lowest since May 2018
U.S. energy firms this week cut the number of oil rigs operating to the lowest in almost nine months as some producers follow through on plans to cut spending despite an over 20-percent increase crude futures so far this year. Drillers cut 10 oil rigs in the week to March 1, bringing the total count down to 843, the lowest since May 2018, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. More than half the total U.S. oil rigs are in the [Read more]
Fully Integrated Frac Water Midstream in Alberta – Soaring Demand?
From 2013 – 2017, water usage intensity for hydraulic fracturing skyrocketed by over 250% (AER, 2019)! At the same time, the Alberta oil and gas industry experienced a bumpy 37% decrease in drilling activity. Winds of change surrounding the upcoming provincial and federal elections could result in a significant increase in drilling activity in the coming years. We believe the demand for hydraulic fracturing sourcing and water management solutions in Alberta will continue to [Read more]
Canada Weekly Rig Count Down 1 to 211
Western Canada’s fleet of drilling rigs decreased by 1 rig to a total of 211 according to data collected by Baker Hughes for the week of March 1st. From last Friday, Alberta rig counts went from 144 to 145. Saskatchewan's rig count from 53 to 48. Oil drilling went from 1144 to 140; natural gas rigs went from 68 to 71. View a full breakdown of western Canada’s rig activity. [Read more]
Gibson Energy Announces 500,000 Barrel Expansion at Hardisty Terminal, and Provides Update on Infrastructure Growth Projects and Non-Core Dispositions
All financial figures are in Canadian dollars unless noted otherwise CALGARY, Alberta, March 01, 2019 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (“Gibson” or the “Company”), (TSX: GEI), announced today the sanction of 500,000 barrels of new tankage at the Hardisty Terminal under a long-term agreement with an investment grade customer, the closing of the divestitures of Wholesale Propane and non-core Environmental Services North, and continued execution on its infrastructure growth projects. “We [Read more]
Storm Resources Ltd. (“Storm” or the “Company”) is Pleased to Announce Its Financial and Operating Results for the Three Months and Year Ended December 31, 2018
CALGARY, Alberta, Feb. 28, 2019 (GLOBE NEWSWIRE) -- Storm Resources Ltd. (TSX:SRX) - Storm has also filed its audited consolidated financial statements as at December 31, 2018 and for the three months and year then ended along with Management’s Discussion and Analysis (“MD&A”) for the same periods. This information appears on SEDAR at www.sedar.com and on Storm’s website at www.stormresourcesltd.com. Selected financial and operating information for the three months and year ended December [Read more]