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. Following the Supreme Court of Canada Redwater decision in January in favour of the AER and Orphan Well Association, producers must change the way they manage liability regarding end-of-life obligations. These changes are necessary [Read more]
Headlines
Journey Energy Inc. Provides Update on Encouraging Results From First Three Duvernay Wells
CALGARY, July 16, 2019 /CNW/ - Journey Energy Inc. (JOY – TSX) ("Journey" or the "Company") is pleased to provide an update on our Joint Venture with Kiwetinohk Resources Corp. ("Kiwetinohk") in the East Duvernay, including the encouraging test rates achieved by the first three wells. East Duvernay Joint Venture Operational Update Since entering into the Joint Venture arrangement on August 29th, 2018, Kiwetinohk and Journey have been actively advancing the development of the East Duvernay [Read more]
Heavy discount edges wider as monthly trade cycle ends
The differential on Canadian heavy crude widened slightly on Tuesday as the monthly trading window drew to a close: Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, settled at $9.50 per barrel below West Texas Intermediate (WTI) oil, according to Net Energy Exchange. On Monday, WCS for August delivery settled at $9.15 a barrel below WTI crude futures. The benchmark heavy discount remained in sight of the narrowest differential in three months that [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. 15 Exploitation Engineer Tundra Oil & Gas Calgary Jul. 15 Pipefitter / Welder Technician Imperial Oil Sarnia Jul. 15 Boilermaker / Welder [Read more]
Connacher Oil and Gas Limited Announces Creditor and Court Approval of Restructuring and Extension of CCAA Stay of Proceedings
CALGARY, July 16, 2019 /CNW/ - Connacher Oil and Gas Limited ("Connacher" or the "Company") is pleased to announce the approval of the Company's Plan of Compromise and Arrangement, as amended and restated in accordance with its terms (the "Plan"), by the required majorities of affected creditors and the Court of Queen's Bench of Alberta (the "Court") in the Company's proceedings under the Companies' Creditors Arrangement Act (the "CCAA"). As previously announced, the Plan provides that, subject [Read more]
North Dakota natgas output slips from monthly record high, flaring eases
Natural gas production in North Dakota slipped to 2.822 billion cubic feet per day (bcfd) in May from a record high of 2.833 bcfd in April, while the amount of gas flared during the month declined, according to the North Dakota Industrial Commission: Producers in the state burned off or flared 0.532 bcfd in May, down a bit from April. They captured a record high 2.290 bcfd in May, up from the prior all-time high of 2.288 bcfd in April, the commission said in a report on Tuesday. One [Read more]
FortisBC signs Canada’s first long-term contract to supply LNG for China
FortisBC has signed Canada's first long-term supply agreement to produce liquefied natural gas for export to China, the company said in a statement on Tuesday.Under the two-year agreement with China's Top Speed Energy Corp, 53,000 tonnes of LNG will be shipped from the Tilbury facility in British Columbia to China by summer 2021, said Douglas Stout, vice president of market development and external relations for privately-owned FortisBC.The agreement is the first of its kind to secure [Read more]
Alberta economy doing better than expected in June forecast, TD economists
CALGARY - Economists at TD Bank say they are looking at upgrading their Alberta growth expectations for 2019 as signs point to a more robust than expected recovery from the effects of extreme heavy oil price weakness in late 2018. The bank suggested in a forecast in June that the province's economy would grow by a "paltry" 0.5 per cent this year and a slightly better 2.1 per cent next year. It said the province's mandated oil production curtailments had worked to strengthen heavy [Read more]
Oil steadies as U.S. supply concerns ease but Iran tensions loom
Oil prices steadied on Tuesday as a resumption of production in the Gulf of Mexico after Hurricane Barry and a boom in U.S. supply from shale oil countered tensions in the Middle East. Uncertainty about China’s economic prospects also pressured prices after data on Monday showed that growth in the country slowed to 6.2% from a year earlier, the weakest pace in at least 27 years. West Texas Intermediate crude futures fell by 8 cents to $59.50 a barrel. The U.S. benchmark hit a session high [Read more]
U.S. natgas futures fall on forecasts of less hot weather, rising output
U.S. natural gas futures on Tuesday fell more than 3% to their lowest in over a week on forecasts for less hot weather over the next two weeks than previously forecast and a slow return of production from the Gulf of Mexico after Tropical Storm Barry. Front-month gas futures for August delivery on the New York Mercantile Exchange were down 7.6 cents, or 3.2%, to $2.332 per million British thermal units at 8:23 a.m. EDT (1223 GMT), their lowest since July 5. With the weather expected to [Read more]