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. A lot of the conversation around liabilities in the oil and gas industry involves the calculation of those liabilities: how important it is, how you get your numbers, which calculations you can trust, and if those calculations are [Read more]
Headlines
New Rex Oil Opportunity on PrairieSky Lands Available for Leasing
PrairieSky Royalty has identified over 40 potential horizontal locations targeting Rex-aged Upper Mannville sands in the Westerose area of Central Alberta. Prospective lands are analogous to recent horizontal activity targeting the Rex in the Wizard Lake and Leduc-Woodbend fields. 29° API oil has been produced from the Rex in the Westerose area, as noted in tour reports and pool data for the 102/16-32-044-03W5 horizonal well. 2D Seismic data is also available for viewing over high-graded [Read more]
Point Loma Resources Announces Wizard Lake Transaction Update and Share Issuance
CALGARY, AB - Point Loma Resources Ltd. (TSXV:PLX) ("Point Loma" or the "Corporation") is pleased to provide an update regarding the transaction to rationalize its assets and monetize its working interest at Wizard Lake, Alberta and relating to an issuance of shares to debenture holders of the Corporation. Highlights As per the Corporation's December 24, 2019 press release, Point Loma has completed the first closing of the Wizard Lake transaction (the "Transaction") with the transfer of [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 Jan. 26 Vice President Engineering & Operations LEC Calgary Jan. 25 May 2020 - Bachelor of Science (Environmental/GIS) Student Opportunities TC [Read more]
Canada could delay decision on Teck’s oil sands project, says key minister
Canada has the power to delay a decision on whether to approve a new Teck Resources Ltd oil sands project, a key cabinet minister said on Tuesday, a sign Ottawa could push back what will be a contentious decision. Ottawa must decide by end-February if Teck can build the C$20.6 billion ($15.7 billion) Frontier mine in northern Alberta, capable of eventually producing 260,000 barrels of crude oil per day. If the minority Liberal government of Prime Minister Justin Trudeau says yes, it would [Read more]
Hearings begin to determine detailed route of the Trans Mountain Expansion Project
First hearings to be held since regulatory processes resumed in July 2019 CALGARY, Jan. 28, 2020 /CNW/ - Beginning today, the Commission of the Canada Energy Regulator (Commission) will hold detailed route hearings for landowners along the path of the Trans Mountain Expansion Project. These hearings are the first since regulatory processes on the project resumed in July of 2019. Detailed route hearings are required where an objection to the detailed route exists, and allow the Commission [Read more]
Receivership Sale: Houston Oil & Gas Ltd
On October 29, 2019, Hardie & Kelly Inc. was appointed receiver and manager (the “Receiver”) of Houston Oil & Gas Ltd. (“Houston” or the “Company”). The Receiver has engaged Sayer Energy Advisors to assist with the sale of all of the Company’s remaining oil and natural gas properties which are located in southern and central Alberta (the “Properties”). The Receiver was appointed by the Court pursuant to the application made by the Orphan Well Association and intends to divest the [Read more]
Oil ends 6 day fall as China virus raises global growth, demand concerns
Oil futures recovered after a 6 day fall on Tuesday as the spread of a new virus in China and several countries raised concerns about a hit to economic growth and oil demand. U.S. West Texas Intermediate was up 27 cents, or 0.5%, at $53.09, after slipping to its lowest since early October in the previous session at $52.13. Brent crude was up 4 cents, or 0.07%, to $58.98 at around 0348 GMT, after touching a three-month low on Monday at $58.50, as the virus outbreak triggered a global [Read more]
Alberta premier wants Ottawa to approve Teck mine for benefit of First Nations
CALGARY - Alberta's premier says Prime Minister Justin Trudeau needs to move swiftly to approve the Teck Frontier oilsands mine north of Fort McMurray. Jason Kenney says there is no reason to delay the go-ahead of the $20.6-billion project near Wood Buffalo National Park in northeastern Alberta. A federal-provincial review last summer determined Frontier would be in the public interest, even though it would be likely to harm the environment and Indigenous people. Kenney says the [Read more]
Former MP Nathan Cullen appointed B.C. liaison in pipeline dispute
VICTORIA - The British Columbia government has appointed former New Democrat MP Nathan Cullen as a provincial liaison with Wet'suwet'en hereditary chiefs in an LNG pipeline dispute. Cullen represented Skeena-Bulkley Valley, a sprawling part of northern British Columbia that includes the Wet'suwet'en traditional territory, until last year when he decided not to seek re-election. The premier's office says Cullen will work with Wet'suwet'en leaders, the RCMP, Coastal GasLink, the provincial [Read more]