Enbridge Inc's plan to overhaul contracts on its Mainline pipeline system has outraged many Canadian shippers but is cheered by investors who see monetizing existing infrastructure as a safer bet than trying to build new pipelines. The Mainline is North America's largest pipeline network, transporting nearly 3 million barrels per day, or 70%, of crude from western Canada to the U.S. Midwest. Many shippers opposed say Enbridge is abusing its market power and the changes will hurt Canadian [Read more]
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Aucerna Acquires Micotan Software
Energy software leader expands portfolio of integrated well delivery solutions Aucerna, the global energy industry's leading provider of solutions for integrated planning, execution, and reserves today announced it has acquired Micotan software, creators of the popular well life cycle management tool, Generwell™. With this acquisition, Aucerna brings added capability to its well delivery execution solution and expands its market leadership in the areas of integrated capital management and [Read more]
Encana Corp. names Michael McAllister as new president
Encana Corp. has named Michael McAllister as its president, part of several changes to its executive leadership. He will continue to report to chief executive Doug Suttles. McAllister joined the company nearly 20 years ago and held positions of increasing responsibility. He previously served as Encana's executive vice-president and chief operating officer. The company also promoted Brendan McCracken to executive vice-president of corporate development and external affairs. He will [Read more]
Oil and gas majors sign deal to implement blockchain in Bakken oilfield
A group of oil and gas companies has agreed to begin testing blockchain, a technology at the heart of digital currencies, in a bid to lower administrative costs in their field operations while also reducing payment disputes and chances for fraud. The OOC Oil & Gas Blockchain Consortium, whose members include Chevron Corp , ConocoPhillips , Exxon Mobil Corp , Equinor and Royal Dutch Shell , among others, has awarded a contract to Data Gumbo to pilot the technology for water handling [Read more]
PwC Canada and Quorum Software to Accelerate Digital Transformation for Midstream Companies
New software and consulting will increase technology automation and efficiency for midstream companies. PwC Canada, a leader in providing advisory services, and Quorum Software, the leader in digital transformation for the oil and gas industry, today announced the signing of a Joint Business Agreement. Quorum and PwC Canada are collaborating on digital transformation initiatives for the midstream sector of Canada’s oil and gas industry. The new joint business agreement makes it possible for [Read more]
Webinar: Effective management of Asset Retirement Obligations (ARO).
Whether it’s for financial reporting or bank credit redetermination, operators across the WSCB are finding they need to pay closer attention to how they evaluate, make decisions, and report on asset retirement obligations, or ARO. XI Technologies has addressed the stumbling blocks, introduced standardized methodologies, and simplified the ARO process with the industry’s first ARO Manager software. The most recent AssetBook ARO Manager includes a handy Project Overview Report which instantly [Read more]
Athabasca Minerals Inc. Receives Favourable NI 43-101 Technical Report in Support of its Duvernay Premium Domestic Sand Project
September 10, 2019 EDMONTON, ALBERTA. Athabasca Minerals Inc. (“AMI” or the “Corporation”) (TSX Venture: ABM) is pleased to announce the completion of a Technical Report prepared in accordance with the requirements of National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101”) for the White Rabbit Property associated with AMI’s Duvernay Premium Domestic Sand Project (“Duvernay Project”). AMI’s Duvernay Project encompasses 356 hectares (878 acres) of largely [Read more]
UK based firm, Capterio, looking for Joint Venture Partners in flare abatement and gas conservation
Capterio is a unique new global enterprise that brings together new technology solutions, deep expertise and flexible financing to monetise flared gas. We specialize in collaborative problem-solving to help you to profitably reduce natural gas flaring and greenhouse gas emissions. If you have a flaring issue or are facing production curtailment because of third party shut-ins or regulatory restrictions (e.g. AER Directive 060) then Capterio can help. We bring not only expertise in projects [Read more]
Obsidian Energy Initiates Formal Strategic Alternatives Process
CALGARY, Sept. 10, 2019 /CNW/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") announces that the Board of Directors (the "Board") has determined that it is in the best interest of the Company and its stakeholders to initiate a formal process to explore strategic alternatives. This process is intended to evaluate the Company's strategic options and alternatives to maximize shareholder value. Such strategic alternatives may include, but are [Read more]
Oil hits six-week high on hopes of extended OPEC output cuts
Oil futures hit a six-week high on Tuesday, rising for a fifth day on optimism that OPEC and other countries may agree to extend production cuts in a bid to support prices. West texas intermediate was 27 cents, or 0.5%, higher at $58.12 a barrel, while brent was up 26 cents, or 0.4%, at $62.85 a barrel by 0349 GMT. Brent touched its highest since Aug. 1, while WTI crude rose to the highest since July 31. U.S. oil gained more than 2% on Monday, while Brent finished the day 1.7% higher as [Read more]