VANCOUVER, B.C. - TheNewswire - Hillcrest Petroleum Ltd. (TSXV:HRH) (OTC:HLRTF) (the "Company" or "Hillcrest") - Further to our recent news release of January 31, 2020, the Company is pleased to provide an update on its operational improvement initiative to increase operational reliability and reduce operating costs by connecting its West Hazel production operations to the Saskatchewan power grid. The process will significantly reduce operating costs and eliminate greenhouse gas emissions from [Read more]
Headlines
Oil gains more than 3% on hopes for output cuts to counter China virus impact
Oil prices climbed more than 3% on Wednesday, boosted by news that OPEC and its producer allies are weighing further output cuts to counter a potential squeeze on global oil demand resulting from China's fast-spreading coronavirus. U.S. West Texas Intermediate (WTI) crude futures were up $1.77 or 3.6% to $51.20 a barrel. Brent crude oil futures were up $1.96, or 3.6%, to $55.78 a barrel. The Organization of the Petroleum Exporting Countries (OPEC) and its allies led by Russia, a group [Read more]
Hemisphere Energy Provides Operations Update and Outlines Plans for 2020
Vancouver, British Columbia - Hemisphere Energy Corporation (TSXV: HME) ("Hemisphere" or the "Company") is pleased to provide an update on its Southern Alberta oil assets following a successful 2019. Through 2019, Hemisphere drilled 11 horizontal oil wells in its Upper Mannville G pool, which greatly expanded development in the Company's most prolific oil pool. The summer drilling program was completed on budget and on time with all wells being brought on production by the fourth quarter. [Read more]
Highly Accurate 3rd Party ARO Estimates for Inclusion in Reserves Reporting
Recent changes to the Canadian Oil & Gas Evaluation Handbook (COGEH) consider it a best practice to incorporate abandonment, decommissioning and reclamation costs into reserve evaluation reports. Not only is including environmental liability estimates the right thing to do, but increasingly it is being demanded by investors throughout the world. Sproule does an excellent job of explaining this best practice in their report entitled “Reserves Reporting Best Practice” available [Read more]
XI Technologies: February 2020 Expiring Land Report – Are there opportunities for you?
Each week, XI Technologies scans its 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. XI Technologies looks at expiring land every month https://xitechnologies.com/wttw-subscription/?source=ENow_WTTWbecause it can provide useful business development intel for service companies and E&Ps alike. For service companies, [Read more]
Column: So, you want an all-renewable power grid? Think twice
In the poorly understood world of electrical generation and transmission, a strange tale is unfolding. The media won’t touch it with a ten-foot pole, for a number of reasons – first, it is miles over their head, and second, the conclusions run counter to their current bombastic narrative about the “renewable energy revolution”. There is a risk in even discussing the situation, because in the powder-keg debate of climate change vs. lifestyle, the denier police are on high alert to brand your [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 Feb. 3 IT and Business Solutions Manager Vertex Sherwood Park Feb. 3 Electrical Instrumentation & Controls Technician TC Energy Airdrie Feb. 3 Electrical [Read more]
Alberta premier lauds Trudeau after latest Trans Mountain court ruling
EDMONTON - Alberta Premier Jason Kenney applauded a court decision Tuesday clearing another legal hurdle in the Trans Mountain pipeline expansion project and offered some kind words for the prime minister. Kenney acknowledged he has locked horns with Justin Trudeau on many energy issues, but said the prime minister had been as good as his word on the Trans Mountain project. "I have my disagreements with Prime Minister Trudeau on a number of issues ... but I think they did realize there has [Read more]
Heavy discount narrows to smallest discount since November
Canadian heavy crude's discount versus U.S. benchmark West Texas Intermediate (WTI) crude narrowed on Tuesday to the smallest discount since November, as bloated supplies diminished. Western Canada Select (WCS) heavy blend crude for March delivery in Hardisty, Alberta, was trading at $18.25 per barrel below WTI, according to NE2 Canada Inc, narrower than Monday's settle of $19.65 under. Heavy crude traded for a discount as little as $18, the smallest since Nov. 19. Alberta crude [Read more]
Canada’s oil pipeline projects inch forward
Three proposals to expand pipeline capacity to move Western Canada's crude oil have been stalled for years by environmental and indigenous opposition in both Canada and the United States. Lately, the proposals have cleared several obstacles, but others remain. Canadian oil companies such as Canadian Natural Resources Ltd , Suncor Inc and Cenovus Energy say the projects are critical to lifting prices and ending government-ordered curtailments in Alberta. LINE 3 This Enbridge Inc project [Read more]