The precise source of a leak on TC Energy Corp's Keystone oil pipeline in North Dakota has not yet been identified, a spokesman for the U.S. Pipeline and Hazardous Materials Safety Administration (PHMSA) said on Monday. There is no estimated timeline for restart of the pipeline and the company is continuing excavation work to isolate the affected part of the pipeline, the spokesman said by phone. Clean-up crews in Walsh County, North Dakota, have been working to plug the Keystone pipeline [Read more]
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Oil prices creep higher on tentative U.S.-China hopes
Oil prices crept upwards on Monday, with Brent reaching its highest in more than a month after the previous day’s boost from growing expectations of a U.S.-China trade deal and Iran flagging OPEC discussions of a deeper output cut next month. December U.S. crude futures up 97 cents at $57.03 a barrel. Brent crude futures for January also swung back into positive territory, rising 80 cents to $62.49 a barrel by 1203 GMT, erasing earlier losses and reaching peaks last seen on Sept. [Read more]
Obsidian Energy Announces Third Quarter 2019 Financial and Operational Results and Updates 2019 Guidance
CALGARY, Nov. 4, 2019 /CNW/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce its financial and operational results for the three and nine months ended September 30, 2019. All figures are in Canadian dollars unless otherwise stated. Michael Faust, Interim President and CEO, commented, "Throughout the third quarter of 2019, Obsidian Energy continued to deliver on our commitments. We continue to operate within our [Read more]
Delphi Energy Corp. Announces Extension of Credit Facility
Delphi Energy Corp. (“Delphi” or the “Company”) announces that the semi-annual borrowing base redetermination of its senior credit facility has been finalized. Effective on the earlier of the closing date for the Recapitalization Transaction (as defined below) and November 29, 2019, and conditional upon completion of the Recapitalization Transaction, the borrowing base of the senior credit facility led by Alberta Treasury Branches has been renewed at $80.0 million. Further, conditional upon [Read more]
Best Practices in ARO Management: A senior leaders’ roundtable on evolving environmental liability management practices in the WCSB
Energy liability cases like Redwater and Sequoia have changed the way Canadian E&P companies access capital, evaluate deals, and manage asset retirement obligations (ARO), leaving industry struggling to keep up with changing rules and approaches. XI Technologies Inc., creators of the WCSB's first ARO management software, will host an executive roundtable on Thursday, November 14, 2019, at the Hudson Event Centre. XI has assembled an expert panel to discuss Best Practices in ARO [Read more]
Crew Energy Inc. Announces Third Quarter 2019 Financial and Operating Results Highlighted by 24% Growth in Quarterly Condensate Volumes
Crew Energy Inc. (TSX: CR) ("Crew" or the "Company") is pleased to announce our operating and financial results for the three and nine month periods ended September 30, 2019. Crew's Financial Statements and Notes, as well as Management's Discussion and Analysis ("MD&A") for the three and nine month periods ended September 30, 2019 are available on Crew's website and filed on SEDAR at www.sedar.com. Q3 2019 HIGHLIGHTS Average Production of 22,824 boe per day with 29% Liquids: Liquids [Read more]
November Inventory Update – Huge Savings on Oilfield Equipment During Downturn with Inclusive Energy
Save time and money with fast turn around. Inclusive energy has a massive inventory that is in stock and ready to go for a fraction of the cost of manufacturing. All storage tanks and process equipment are priced at least 50% below retail value. Being able to buy, rent or rent to own with the option of our one of a kind in house financing gives you unprecedented purchasing power. All of our assets are completely owned by Inclusive Energy for quick turnaround and are fully inspected, with full [Read more]
Pieridae Appoints New Independent Director
Pieridae Energy Limited (“Pieridae” or the “Company”) (TSXV: PEA) is pleased to announce the appointment of Mr. Mark Horrox as an additional independent director, effective immediately. Mr. Horrox is a principal at Third Eye Capital ("TEC"). He has 20 years of global experience investing in companies undergoing change or growth. His responsibilities at TEC include advancing the firm's investment activities in the Canadian energy market. Mr. Horrox is the Director of Erikson National Energy [Read more]
Canada weekly rig count drops 5 to 142
Canada’s fleet of active drilling rigs decreased from 147 to 142 since last week according to data from Baker Hughes. Total drilling count was 142 at November 1. 93 rigs were drilling for oil; 49 for natural gas. The drilling activity in Alberta increased, growing from 97 to 99. Saskatchewan's drilling activity dropped from 35 to 28. View a full breakdown of Western Canada’s rig activity. [Read more]
Shippers seek alternatives for oil as crews work toward plugging Keystone leak
Cleanup crews in Walsh County, North Dakota, are working toward plugging the Keystone pipeline after a more than 9,000-barrel oil leak this week, a state official said Friday, while crude shippers are searching for alternative means of transport. The shutdown caused by the spill threatens a large amount of regular supply of heavy Canadian crude to the United States. Canada is the biggest foreign provider of oil to the United States, with exports to the U.S. averaging about 3.6 million barrels [Read more]