Sproule releases a special report on Best Practices for Reserves Reporting of Abandonment, Decommissioning and Reclamation Costs in Canada. This report outlines the recent changes to the Canadian Oil & Gas Evaluation Handbook (COGEH) with respect to the inclusion of Abandonment, Decommissioning and Reclamation Costs (ADR) in a reserves report and provides insight into how Sproule’s evaluators will follow the guidance on a go-forward basis. For more information or to download the report, [Read more]
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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. 21 FIELD SALES, PIPELINE & INDUSTRIAL SERVICES Trican Well Service Ltd. Calgary Jan. 20 Class 1 & 3 Drivers Vertex Fort McMurray Jan. 20 Capacity [Read more]
Pine Cliff Energy Ltd. Provides Operational Update
Calgary, Alberta - Pine Cliff Energy Ltd. (TSX: PNE) ("Pine Cliff", or the "Company") is pleased to provide an update on its Pekisko development program which continues to demonstrate encouraging results. Pekisko Development Program Update Pine Cliff's first horizontal oil well ("13-33") targeting the Pekisko formation in Central Alberta came on production on January 18, 2019, and has averaged 249 Boe/d (111 Bbl/d oil, 27 Bbl/d natural gas liquids and 666 Mcf/d natural gas) through the [Read more]
Indigenous LNG supporters chide human rights advocates over pipeline comments
BURNS LAKE, B.C. - A collective of First Nations who support the liquefied natural gas industry in British Columbia say human rights advocates failed to do their research when they called for a pipeline project to be halted. The First Nations LNG Alliance has issued open letters to the B.C. human rights commissioner and the United Nations Committee to End Racial Discrimination over statements they made about the Coastal GasLink project. They called for the project to be stopped in the face [Read more]
Obsidian Energy Provides Year-end 2019 Production and Reconfirmation of Existing Credit Facility
CALGARY, Jan. 21, 2020 /PRNewswire/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce its year-end 2019 production numbers as well as the reconfirmation of its existing credit facility. Full Year 2019 Production Full year 2019 production was 26,900 boe/d, within our recent full year guidance range of 26,750 to 27,250 boe/d. Additionally, production in the fourth quarter of 2019 was approximately 26,600 boe/d, [Read more]
Teck oil sands project splits Canada’s indigenous people, poses challenge for Trudeau
A proposed Canadian oil sands mine has split the country's indigenous people, compounding the challenges facing Prime Minister Justin Trudeau's government as it decides whether to approve the project. Teck Resources Ltd would build the C$20.6 billion ($15.76 billion) Frontier mine 110 kilometres (68 miles) north of Fort McMurray, Alberta, capable of eventually producing 260,000 barrels of crude oil per day. The mine, which would be one of the largest in Alberta's oil sands, requires federal [Read more]
Regina police arrest 14 union members during Co-op labour dispute
Regina's police chief says the city is being held "hostage" by a labour dispute between the Co-op Refinery and the union representing 700 of its workers. Evan Bray says officers arrested and charged 14 people with mischief yesterday after access was blocked to the plant. Unifor had announced it was going to prevent fuel trucks from leaving in an effort to shut down the facility. The union's national president, Jerry Dias, was among those arrested. Workers were locked out in early [Read more]
U.S. natgas futures drop to 3-year lows on milder weather forecasts
U.S. natural gas futures fell to a fresh three-year low below $2 on Tuesday on forecasts for milder winter weather through early February than previously expected. Low gas prices are a boon to consumers who pay less to heat homes and businesses, but are painful for energy companies - like EQT Corp , the nation's biggest gas producer - forced to cut costs and reduce drilling activity to the lowest level in years. Front-month gas futures for February delivery on the New York Mercantile [Read more]
Union head arrested in lockout at Canada’s Co-op Refinery
Police on Monday arrested the leader of Canada's largest private sector union and six others who joined workers blockading the Co-op Refinery in Regina, Saskatchewan, raising tensions in a six-week old industrial dispute. Federated Cooperatives Ltd (FCL), which owns and operates the refinery, locked out 800 workers on Dec. 5 in a dispute over pensions, but has kept western Canada's third-largest oil refinery operating with replacement workers and managers. The arrests came after Unifor, [Read more]
Oil prices ease as supply risk concerns fade
Oil prices eased on Tuesday as investors appeared to shrug off earlier supply concerns following a force majeure declared by Libya on two major oilfields amid a military blockade. West Texas Intermediate crude futures were down 27 cents, or 0.48%, at $58.36 a barrel. Brent crude was trading down 36 cents, or 0.55%, at $64.78 per barre after rising to their highest in more than a week on Monday. "Every time we get a big geopolitical event, the market spikes up but everybody looks at that [Read more]