Anadarko Petroleum Corp (APC.N) has joined major U.S. oil producers shutting production and withdrawing staff from offshore platforms in the U.S. Gulf of Mexico ahead of a storm threatening oil-producing areas. U.S. oil prices climbed 2.7% on Wednesday as more producers shut production and removed workers at Gulf oil and gas platforms. A tropical cyclone could form by Thursday, moving westward over the northern Gulf of Mexico, with the potential to produce a storm surge from Louisiana to the [Read more]
Headlines
Oil gains on U.S. inventory drawdown, Gulf of Mexico storm
Oil prices rose more than 2% on Wednesday after industry data showed U.S. inventories fell more than expected and as major U.S. producers evacuated rigs in the Gulf of Mexico before a storm. U.S. West Texas Intermediate (WTI) crude futures climbed $1.28 to $59.11 by 1136 GMT, after hitting a session high of $59.31. Brent crude futures were up $1.42 at $65.58, but below a session high of $65.69. Data from the American Petroleum Institute (API) on Tuesday showed U.S. crude inventories [Read more]
Sinopec Canada: Buck Lake Duvernay Land Divestiture
Sinopec Canada (“Sinopec”) is looking to divest of its prospective Duvernay acreage in the Buck Lake Area of Alberta. Sinopec holds a 100% working interest in 24,320 acres (38 sections) of Duvernay rights in Buck Lake. Sinopec also has a 100% working interest in the 102/16-25-044-05W5/00 producing horizontal Duvernay well. Sinopec’s lands in the Buck Lake area are offset to the East and North by recent drilling activity by Kiwetinohk Resources Corp, Baytex Energy Inc. and Resourceful [Read more]
Sometimes stupidity rules, and we have no choice but to watch in horror as consequences unfold
This isn’t going to sound very nice, but think of all the stupidity in the world. I’m not trying to be mean, and no, this isn’t some sort of political diatribe. Sorry to break it to everyone but Trudeau isn’t stupid – he is just wildly out of his element. He has no ability or inclination for the finesse required to run a massive organization. Had he stayed in the drama classroom, we might all be marvelling at his brilliant productions. But just because someone isn’t stupid doesn’t mean they [Read more]
XI Technologies: July 2019 Expiring Land Report – Are there opportunities for you?
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. Every few months, we like to take a look expiring land. According to AssetBook data, these are the top 25 companies with expiring lands over the next 12 months. From this data, AssetBook allows you to easily identify and rank [Read more]
Trade, climate policy on agenda for premiers’ meeting in Saskatoon
SASKATOON - Canada's 13 premiers are expected to discuss trade and climate policy among other pressing issues when they sit down for their annual conference in Saskatoon. The closed-door meeting is taking place today and tomorrow at a downtown hotel. Saskatchewan Premier Scott Moe is hosting the Conference of the Federation, and says one priority is breaking down trade barriers between the jurisdictions. The gathering, just ahead of October's federal election, comes as [Read more]
Alberta government seeking feedback on greenhouse gas emissions reduction plan
CALGARY - The Alberta government is seeking feedback on its plan to cut greenhouse gas emissions from big industrial players. The province's environment, energy and agriculture ministers are meeting with 150 stakeholders over the next three days in Calgary. That includes representatives of the oil and gas, chemicals, mining and agriculture industries, among others. Albertans can also weigh in online until Aug. 2. Environment Minister Jason Nixon said they'll be [Read more]
Heavy crude differential edges narrower
The discount on Canadian heavy crude tightened on Tuesday:* Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, settled at $11.70 per barrel below West Texas Intermediate (WTI) oil, according to Net Energy Exchange. On Monday, WCS for August delivery settled at $12.05 a barrel below WTI crude futures.* One industry source said trading volumes were reasonably strong despite many industry players attending events at the Calgary Stampede, a 10-day rodeo in [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. 9 Electrician - Apprentice Strike Group Whitecourt Jul. 8 Plant Operators Roska DBO Grande Prairie Jul. 7 Board Coordinator - Corporate Secretarial [Read more]
Canadian oil companies see output cuts easing as rail capacity grows
Major Canadian oil companies, which publicly disagreed over the Alberta government’s forced curtailments this year, are in lockstep over how to end the production limits, saying they should be eased as more rail capacity comes online.Senior executives from Suncor Energy , Canadian Natural Resources , Imperial Oil Ltd and Cenovus Energy said at a TD Securities investor conference in Calgary on Tuesday that they are in talks with Premier Jason Kenney’s Alberta government [Read more]