It’s tough for politicians to balance budgets so it might seem far-fetched to believe they can actually save money. But Medicine Hat’s politicians are doing it. By creating their Heritage Savings Reserve to steward resource revenues, the Gas City has sparked a light of fiscal responsibility for Alberta to follow. Medicine Hat has an abundance of energy resources. The city has over 4,000 gas wells and ambitions to increase its oil production to 5,000 barrels per day. When energy prices are [Read more]
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Request for proposals to purchase the assets of Bearstone Environmental Solutions Inc.
Pursuant to an order of the Court of Queen’s Bench of Alberta (the “Court”) made August 6, 2019, KPMG Inc. in its capacity as Court-appointed receiver (the “Receiver”) of Bearstone Environmental Solutions Inc. (“Bearstone” or the “Company”), is soliciting written proposals for the acquisition of the Company’s assets, either en bloc or parts thereof. The Company provided environmental oilfield services to the oil and gas industry throughout western Canada. Primary service offerings included [Read more]
Husky Starts Production at Dee Valley Thermal Project
CALGARY, Alberta, Aug. 26, 2019 (GLOBE NEWSWIRE) -- Husky Energy today announced it has commenced production at its Dee Valley thermal project in Saskatchewan, the second of six 10,000-barrel-per-day thermal bitumen projects to be brought onstream from 2018 to 2022. “Dee Valley is the latest in our deep portfolio of repeatable, small-scale Lloyd developments that provide low-cost, reliable feedstock for our Upgrader, asphalt refinery and U.S. refineries,” said CEO Rob Peabody. “These projects [Read more]
Canada weekly rig count down 3 to 139
Western Canada’s fleet of drilling rigs went down by 3 to 139 according to data collected by Baker Hughes for the week of August 23rd. Alberta lost 1, moving to 94, while Saskatchewan dropped by 1 to 32. Oil rigs went from 101 to 95, natural gas drilling increased from 41 from 44. View a full breakdown of Western Canada’s rig activity. [Read more]
Oil prices slide as U.S.-China trade war escalates
Oil prices fell sharply on Friday after China unveiled retaliatory tariffs against about $75 billion worth of U.S. goods, marking the latest escalation of a protracted trade dispute between the world’s two largest economies. U.S. West Texas Intermediate (WTI) crude futures slid by $1.50 to $53.86. Brent crude futures, the international benchmark for oil prices, fell $1.19 to $58.73 a barrel by 1250 GMT. “Policymakers and investors remain cognizant of the economic headwinds that are [Read more]
Nebraska Supreme Court Affirms Keystone XL route approval
OMAHA, Neb., Aug. 23, 2019 (GLOBE NEWSWIRE) -- TC Energy Corporation (TSX, NYSE: TRP) (TC Energy or the Company) today announced the Nebraska Supreme Court has affirmed the November 2017 decision by the Nebraska Public Service Commission that approved the Keystone XL Pipeline route through the state. “The Supreme Court decision is another important step as we advance towards building this vital energy infrastructure project,” said Russ Girling, TC Energy’s President and Chief Executive [Read more]
Chevron Canada’s Artificial Lift Specialist Joins The Artificial Lift & Production Optimization Western Canada Speaker Line-Up
September 25-26, 2019 – Calgary, AB http://www.canadian-production-artificiallift-optimization.com/ Event News This Week – New Speaker Joins The Line-Up Allan Antonio, Artificial Lift Specialist, Chevron Canada Early Bird Discount Ends August 23 - Click Here To Register & Save $200 2019 Event Brochure Newly Released - Click Here To Download The 2nd Annual Artificial Lift & Production Optimization: Western Canada 2019 provides you with the opportunity to hear [Read more]
Clearview Reports Second Quarter Results and Operations Update
Adjusted funds flow of $1.3 million, $5.98 per barrel of oil equivalent ("boe"), in the second quarter, up 89% from the comparative quarter of 2018 and $3.3 million of adjusted funds flow for the six months ended June 30, 2019, up 228%, versus the comparative six months of 2018 Reduced net debt by $1.9 million to $16.3 million at June 30, 2019 resulting in a net debt to annualized six-month adjusted funds flow ratio of 2.4:1 Increased oil production 56% and 55%, in the three and six months [Read more]
Bonterra Energy Corp. Provides Update on Fluid Release at Central Alberta Well Site
CALGARY, Aug. 22, 2019 /CNW/ - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) ("Bonterra" or the "Company") today provides an update on the previously reported release of emulsion related to a pipeline that severed on August 15, 2019 after a creek bank collapsed as a result of area flooding approximately 25 km southwest of Drayton Valley, AB. The Company confirms that the emergency phase, which had been initiated immediately upon identification of the incident, has now been [Read more]
Oil inches higher after U.S. crude stocks drawdown, economic worries weigh
Oil prices edged higher on Thursday after a drawdown in U.S. crude inventories, but lingering concerns over the global economy and a build-up in U.S. refined product stocks kept a lid on gains. West Texas Intermediate (WTI) crude futures rose 10 cents, or 0.2%, to $55.78 per barrel. Brent crude futures climbed for a fifth consecutive session on Thursday, rising 6 cents, or 0.1%, to $60.36 a barrel by 0242 GMT on Thursday. U.S. crude inventories fell more than expected last week as [Read more]