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. In its first four years, the Inactive Well Compliance Program (IWCP) under AER Directive 013, decreased the number of non-compliant inactive wells in the province from 25,808 on April 1, 2015, to 15,628 as of yesterday, July 2, [Read more]
Headlines
TC Energy enters agreement to sell Columbia Midstream assets for US$1.275 billion
CALGARY, Alberta, July 02, 2019 (GLOBE NEWSWIRE) -- News Release -- TC Energy Corporation (TSX:TRP) (NYSE:TRP) (TC Energy) announced today that it has entered into an agreement to sell its U.S. midstream assets held by its subsidiary, Columbia Midstream Group, to UGI Energy Services, LLC, a subsidiary of UGI Corporation (NYSE: UGI), for approximately US$1.275 billion (Cdn$1.7 billion). The transaction is expected to close in the third quarter of 2019 subject to closing adjustments and [Read more]
Recycled extremism threatens greater greenhouse gas emissions
The environmental activists pushed out a national shock and awe campaign this week to try overwhelm people with a silly assertion that natural gas isn’t as clean as coal. A well publicized report by “The Global Energy Monitor” had Canadian Press, CBC and the Globe and Mail trying to tell Canadians that the world's climate will suffer if natural gas displaces coal. I have to give them credit for recycling at least. This is the third time in the last seven years that environmental [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 Jun. 28 Cybersecurity Relationship Specialist TC Energy Calgary Jun. 28 Director of Production Brunel Toronto Jun. 28 Store Manager Brunel Calgary Jun. [Read more]
Heavy oil differential widens on first day of trade cycle
Canada's heavy crude differential to U.S. futures widened on Tuesday as the monthly Canadian crude market trade cycle began:* Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, last traded at $13.60 per barrel below West Texas Intermediate (WTI) oil, according to Net Energy Exchange. On Friday, WCS for August delivery settled at $13.30 a barrel below WTI crude futures.* Tuesday was the first day of the monthly trading window when liquidity picks up. It [Read more]
Gibson Energy Announces Closing of Sale of Canadian Truck Transportation
CALGARY, Alberta, July 02, 2019 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (“Gibson” or the “Company”), (TSX: GEI), announced today it has closed the sale of its Canadian Truck Transportation businesses to Trimac Transportation (“Trimac”) for gross proceeds of approximately $70 million prior to customary closing adjustments, with the potential for additional proceeds depending on the performance of the business over the next several years. As part of the sale of its Canadian Truck Transportation [Read more]
Canada aboriginal pipe dream might end Trudeau’s Trans Mountain nightmare
An indigenous-led group plans to offer to buy a majority stake in the Trans Mountain oil pipeline from the Canadian government this week or next, a deal that could help Prime Minister Justin Trudeau mitigate election-year criticism from environmentalists.The group, called Project Reconciliation, aims to submit the C$6.9 billion ($5.26 billion) offer as early as Friday, managing director Stephen Mason told Reuters, and start negotiations with Ottawa two weeks later.Project Reconciliation said the [Read more]
ARC Financial Corp. closes ARC Energy Fund 9
CALGARY, July 2, 2019 /CNW/ - Canada's largest energy-focused private equity manager, ARC Financial Corp. ("ARC"), announced that it has closed its ninth private equity fund, ARC Energy Fund 9 with $780 million of capital from institutional investors across Canada, the United States and Europe. Consistent with ARC's prior funds, ARC Energy Fund 9's investment strategy will focus on private Canadian entrepreneurial exploration & production and oilfield service companies. ARC has [Read more]
Oil dives 3% on demand worries even as OPEC, allies extend cuts
Oil prices fell more than 3% on Tuesday, even after OPEC and allies including Russia agreed to extend supply cuts until next March, as weak manufacturing data had investors worried that a slowing global economy could dent oil demand. U.S. West Texas Intermediate (WTI) crude futures fell $2.20, or 3.7%, to $56.89 a barrel, after touching their highest in more than five weeks on Monday. The Organization of the Petroleum Exporting Countries and other producers such as Russia, a group [Read more]
Pieridae Energy Limited Announces Closing of Non-Brokered Private Placement of Common Shares and Convertible Debentures for a Total of $12.2 Million
CALGARY, Alberta, July 02, 2019 (GLOBE NEWSWIRE) -- Pieridae Energy Limited (Pieridae or the Company) (TSXV: PEA) is pleased to announce that it has closed its previously announced (i) non-brokered private placement of common shares of the Company at a price of $0.86 per share for gross proceeds of $2.2 million (the “Common Share Offering”) and (ii) a non-brokered private placement of a secured convertible debenture of the Company (the “Convertible Debenture”) for aggregate gross proceeds of $10 [Read more]