The discount on Canadian heavy crude narrowed versus U.S. benchmark West Texas Intermediate (WTI) crude on Tuesday, after the 590,000-barrel-per-day Keystone pipeline returned to operation following a leak last month in North Dakota. Western Canada Select (WCS) heavy blend crude for December delivery in Hardisty, Alberta, was trading at $19 per barrel below WTI, according to Net Energy Exchange, narrower than Friday's settle of $21.40 below. The market was closed on Monday for a [Read more]
Headlines
Imperial Oil ramping up crude by rail but not pursuing Alberta rail leases
Imperial Oil Ltd is increasing shipments of Canadian crude by rail after the recent Keystone pipeline outage created more favorable economics, but is not looking to take on Alberta government contracts to move even more oil on trains, Chief Executive Rich Kruger said on Tuesday. The shutdown last month of the leaking Keystone oil pipeline, which moves Alberta oil to U.S. refineries, increased the discount on Canadian heavy crude against U.S. light oil to reflect the steeper challenges moving [Read more]
Oil rises further above $57 as trade hopes support
Oil rose further above $57 a barrel on Tuesday, supported by hopes that U.S. President Donald Trump may signal progress on trade talks with China and lower inventories at a U.S. oil hub. Concern about slower economic growth and oil demand due to the fallout from the 16-month U.S.-China trade dispute sent prices lower on Monday. Trump gives a speech later on Tuesday and investors are keen for an update on the talks. West Texas Intermediate (WTI) crude rose 27 cents to $57.13. Brent [Read more]
How will water midstream be developed in the Montney/Duvernay?
Catapult’s Water Leadership Symposium – Friday, November 15 With an impressive lineup of researchers, economists, producers and innovators, Catapult Water Midstream is hosting its first Water Leadership Symposium this Friday. The inspiration came from CEO Michael Wood who wanted to encourage industry engagement while focusing on the environmental, social and governance aspects of managing produced water. Frustrated that other Canadian Water Conferences weren’t promoting open sharing, or [Read more]
Pieridae Appoints New Chief Financial Officer
New CFO Well-Positioned to Take Company to the Next Level CALGARY, Alberta, Nov. 12, 2019 (GLOBE NEWSWIRE) -- Pieridae Energy Limited (“Pieridae” or the “Company”) (TSXV: PEA) is pleased to announce the appointment of Mr. Rob Dargewitcz as Chief Financial Officer (“CFO”) of the Company. Mr. Dargewitcz began his new role on November 11, 2019. "We are excited to officially welcome Rob to our leadership team as our new CFO," said Pieridae CEO Alfred Sorensen. "He did a stellar job in helping to [Read more]
Cardinal Energy Ltd. Announces Third Quarter 2019 Results
CALGARY, Nov. 12, 2019 (GLOBE NEWSWIRE) -- (TSX: CJ) Cardinal Energy Ltd. ("Cardinal" or the "Company") is pleased to announce its operating and financial results for the quarter ended September 30, 2019. The Company's unaudited financial statements and management's discussion and analysis for the quarter ended September 30, 2019, will be available on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com and on Cardinal's website at [Read more]
Altura Energy Inc. Announces Third Quarter 2019 Financial and Operating Results
CALGARY, Alberta, Nov. 12, 2019 (GLOBE NEWSWIRE) -- Altura Energy Inc. ("Altura" or the "Corporation") (TSXV: ATU) is pleased to announce its financial and operating results for the three and nine months ended September 30, 2019. The unaudited interim condensed consolidated financial statements and related management’s discussion and analysis ("MD&A") are available at www.sedar.com and www.alturaenergy.ca. Selected financial and operating information for the three and nine months ended [Read more]
TC Energy says Keystone pipeline has restarted after breach in North Dakota
CALGARY - The owner of the Keystone pipeline says the line has returned to service after a breach that leaked an estimated 1.4 million litres of oil in northeastern North Dakota late last month. TC Energy Corporation says the move follows the approval of its repair and restart plan by the U.S. Pipeline and Hazardous Materials Safety Administration, which ordered the line shut until the Canadian company completed corrective action. The company says it will operate the pipeline at [Read more]
Kenney announces ‘Fair Deal Panel’ to advance Alberta’s interests, like pipelines
RED DEER, Alta. - Alberta Premier Jason Kenney announced the creation of a panel that will examine ways to make his province more independent of Ottawa in a speech to the conservative Manning Centre on Saturday in which he rejected separatist arguments. Kenney's "Fair Deal Panel," which will include former Reform Party leader Preston Manning, will consult with Albertans on ideas such as establishing a provincial revenue agency, withdrawing from the Canada Pension Plan in favour of a new [Read more]
Saudi Aramco targets sale of 0.5% of oil firm to retail investors in IPO -sources
Saudi Aramco is looking to sell up to 0.5% of the state oil giant to retail investors in its planned initial public offering (IPO), three sources familiar with the matter told Reuters.The Saudi oil group has not yet revealed the size of its planned IPO or what proportion of the company it will float, although sources have previously said this could be 1-2%.Aramco declined to comment. It is expected to release more details about the company in an IPO prospectus document later on Saturday.Assuming [Read more]