U.S. natural gas futures fell on Wednesday to their lowest level in over a month on forecasts for cooler weather over the next two weeks than previously forecast. Front-month gas futures for August delivery on the New York Mercantile Exchange fell 8.0 cents, or 3.5%, to settle at $2.220 per million British thermal units. That put the contract within a few cents of its $2.185 close on June 20, which was its lowest settle since May 2016. Meteorologists predict the weather will remain near [Read more]
Headlines
Cuda Oil and Gas Inc. Announces Agreements to Sell all of its Quebec Assets for a Total Transaction Value of $10.59 Million
CALGARY, July 24, 2019 /PRNewswire/ - Cuda Oil and Gas Inc. ("Cuda" or the "Company") (TSXV: CUDA) is pleased to announce that it has entered into a series of binding Asset Purchase Agreements (the "APAs") to sell all of its oil and gas assets and related liabilities located in the Province of Quebec ("Quebec") at a total transaction value of CAD$10.59 million, including cash consideration at closing of CAD $4.29 million, to arm's-length purchasers (the "Transaction"). The Transaction is [Read more]
Indigenous pipeline bidder launches ‘listening tour’ along Trans Mountain route
CALGARY - An Indigenous group planning to bid for ownership of the Trans Mountain pipeline is launching a "listening tour" of Indigenous communities in B.C. and Alberta. Project Reconciliation says the tour will begin in Kamloops in mid-August and will invite First Nations and Metis Nation people and communities along the pipeline route from Edmonton to the West Coast to share their thoughts about Indigenous ownership. Delbert Wapass, executive chair and founder of Project Reconciliation, [Read more]
Wisconsin tribe sues Canada’s Enbridge to shut down crude oil pipeline
A Native American tribe in Wisconsin is suing Canadian pipeline company Enbridge Inc in a bid to have an oil pipeline that runs across its tribal land shut down and removed. The Bad River Band filed a federal lawsuit against Enbridge on Tuesday in the Western District of Wisconsin calling for the 12-mile section of Line 5 that runs across its reservation to be declared "public nuisance and a trespass." The lawsuit says there is a risk the 66-year-old pipeline could rupture and spill oil, [Read more]
Global oil market in glut, but not a big enough one for OPEC
OPEC has shifted the goalposts for assessing an overhang in oil inventories, giving the group more room to prolong production cuts, while analysts warn the move will offer a distorted view of market conditions. Ever since the Organization of the Petroleum Exporting Countries and allies led by Russia - a grouping known as OPEC+ - started curbing oil output two and a half years ago, they have targeted bringing oil in storage in the industrialized world in line with the five-year average. In [Read more]
XI Technologies: Why using LLR can cause inaccurate abandonment cost estimates
Each week, XI Technologies scans their unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you'd like to receive our Wednesday Word to the Wise in your inbox, subscribe here. The Alberta Energy Regulator’s Licensee Liability Rating (LLR) Directive 011 deemed liability values are the most commonly accepted measure of asset retirement obligation (ARO) in Alberta. Unfortunately, as we at XI Technologies [Read more]
Sympathy for politicians? Maybe – consider their tool kit, the electoral freak show, and the stupefying demands and realities they face
Multi-election years are trying times for those that don't enjoy the game of politics. If one is immune to the charms of glad-handing and full-frontal bullshitting, exposure to the black art of politics at a minimum leads to dry heaves, and, in high enough concentrations, a stay in a hospital. Some feel otherwise; a university friend and I once debated the merits of choosing the political life. He defended the career path on the grounds that working for the public interest was a noble [Read more]
Cenovus releases 2018 environmental, social & governance report
CALGARY, Alberta, July 23, 2019 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has published its 2018 environmental, social & governance (ESG) report detailing the company's progress in advancing environmental, health and safety performance, investing in and engaging with the communities where it operates and maintaining the highest standards of corporate governance. A number of Cenovus’s key performance indicators for land, air and water improved last year, partly due to [Read more]
New Oil and Gas Jobs From BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Jul. 23 Loader / Zoom Boom Operator Strike Group Airdrie Jul. 23 Loader / Zoom Boom Operator Strike Group Projects Jul. 23 OFA 3 / EMR Trojan Safety [Read more]
Pipestone Energy Corp. Announces a Midstream Transaction to Fund the Acceleration of a Three Well Completion Program to Delineate Its Eastern Montney Acreage
CALGARY, Alberta, July 23, 2019 (GLOBE NEWSWIRE) -- (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) is pleased to announce it has entered into a strategic midstream transaction (the “Midstream Transaction”) with Tidewater Midstream and Infrastructure Ltd. (“Tidewater”). The initial capital to be received by Pipestone Energy from Tidewater pursuant to the Midstream Transaction will be deployed to accelerate a three-well completion program at its 9-14-71-07W6 (“9-14”) [Read more]