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]
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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]
Bellatrix Provides Update on Its Ongoing Debt Refinancing Efforts
CALGARY, Alberta, March 01, 2019 (GLOBE NEWSWIRE) -- Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX: BXE) provides an update regarding its ongoing debt refinancing efforts. As previously announced by the Company, Bellatrix is focused on its key strategic priority of maintaining financial strength and liquidity. Since 2018, the Company has been advancing efforts and evaluating potential alternatives to optimize its capital structure, improve liquidity and enhance long term [Read more]
Advantage Announces Fourth Quarter and Year End 2018 Operating & Financial Results
Liquids Growth, Market Diversification & Operational Excellence (TSX: AAV) - CALGARY, Feb. 28, 2019 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to announce its 2018 results, culminating in increased liquids development, successful revenue diversification, and operational excellence. These accomplishments, combined with an emphasis on capital and financial discipline, will continue to strengthen the Corporation's solid business and advance its [Read more]
Alberta eases April crude production limit
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 from the limit imposed in January. Late last year congestion on oil export pipelines backed up crude in storage tanks and sent crude prices in the province tumbling to record lows. The slump prompted the Alberta government to mandate temporary production cuts effective Jan. 1 that took 325,000 bpd out of the market. The province is now raising the [Read more]
Cardinal Announces its 2019 Operating and Capital Budget
CALGARY, Alberta, Feb. 28, 2019 (GLOBE NEWSWIRE) -- (CJ:TSX) Cardinal Energy Ltd. ("Cardinal" or the "Company") is pleased to announce that its Board of Directors has approved a base operating budget for 2019 that will focus on a sustainable dividend, long-term operating cost reduction initiatives, debt repayment and maintaining our production volumes at 2018 levels. Highlights of 2019 Budget Operating cost reduction initiatives targeting an 8% reduction in operating costs within [Read more]