CALGARY - Observers on the front lines of Western Canada's oil and gas sector are looking forward to what's widely expected to be approval of the Trans Mountain pipeline expansion on Tuesday while acknowledging the decision by Ottawa won't solve all problems. CEO Clayton Byrt of Pimee Well Servicing LP, a service rig company owned by six northern Alberta First Nations, says approval of the pipeline is a "big deal" because it will encourage investment by the oilsands producers he counts [Read more]
Headlines
Trans Mountain timeline: A look at key dates in the project’s history
OTTAWA - The federal cabinet's long-awaited decision on the Trans Mountain pipeline expansion is due Tuesday. Here are some other key dates in the history of the original project and Kinder Morgan Canada's controversial efforts to expand its capacity: October 1953: The Trans Mountain pipeline begins shipping oil with an initial capacity of 150,000 barrels per day. The project initially features four pump stations along its 1,150-kilometre route and a marine dock that connects loading [Read more]
Trans Mountain Expansion Project must be approved and start construction immediately: CAPP
CALGARY, June 17, 2019 /CNW/ - The Canadian Association of Petroleum Producers (CAPP) issued a statement on the Trans Mountain Expansion Project (TMEP) today in advance of the Government of Canada's expected announcement on June 18. The Trans Mountain Expansion Project must be approved and its construction must begin early this summer. If the project gets stalled until after the October election, we will miss the construction season which means at least another year of delay. Not only [Read more]
Tourmaline Oil Corp. Intends to Make Normal Course Issuer Bid
CALGARY, June 17, 2019 /CNW/ - Tourmaline Oil Corp. (TSX – TOU) ("Tourmaline") is pleased to announce that it intends to make a normal course issuer bid (the "NCIB") to purchase its common shares. The NCIB is subject to approval by the Toronto Stock Exchange (the "TSX"), and if approved, will be made in accordance with the applicable rules and policies of the TSX and applicable Canadian securities laws. Tourmaline intends to purchase up to 5% of its outstanding common shares over a [Read more]
Williams Completes Formation of US$3.8 Billion Strategic Joint Venture Partnership with Canada Pension Plan Investment Board in the Marcellus/Utica Basins
Strategic partnership between Williams and CPPIB supports ongoing growth and Northeast region optimization Williams receives approximately $1.33 billion in exchange for a 35% interest in a combined Utica East Ohio Midstream-Ohio Valley Midstream joint venture TULSA, Okla.--(BUSINESS WIRE)--Williams (NYSE: WMB) today announced the completion of the formation of a US$3.8 billion joint venture with Canada Pension Plan Investment Board (“CPPIB”) that includes Williams’ owned and operated Ohio [Read more]
Delphi Energy Corp. Announces Sale of a Portion of Its Excess Alliance Service and Provides Credit Facility Update
CALGARY, Alberta, June 17, 2019 (GLOBE NEWSWIRE) -- Delphi Energy Corp. (“Delphi” or the “Company”) announces the sale of a portion of its Alliance Service and an extension to its senior credit facility. SALE OF A PORTION OF EXCESS ALLIANCE FIRM TRANSPORTATION SERVICE Delphi has entered into a binding agreement to sell and permanently assign 16 mmcf/d (approximately 35 percent) of its firm full-path service to the Chicago area on the Alliance pipeline system for $11.9 million. The transaction [Read more]
Robson: The Sermon on the Carbon Tax
Oh well. The Pope has spoken. So now it’s settled. What’s that, you say? We’re giving up divorce? Abortion? Pre-marital sex? Not exactly. It’s something else the head of the Roman Catholic Church is apparently entitled to speak on with dogmatic authority and in this case to all mankind rather than just to often inattentive Catholic faithful: carbon pricing. After years of the Pope calling for drastic action on climate change, it is apparently a big news story that the Pope has issued a call [Read more]
US says video shows Iran removing mine from stricken tanker
DUBAI, United Arab Emirates - The U.S. military released a video Friday it said showed Iran's Revolutionary Guard removing an unexploded limpet mine from one of the oil tankers targeted near the strategic Strait of Hormuz, suggesting Tehran wanted to hide evidence of its alleged involvement. Iran denied any role in Thursday's apparent attacks, which have again roiled the Persian Gulf amid heightened tensions between Tehran and Washington over the unraveling nuclear deal with world [Read more]
Canada Weekly Rig Count Up 4 to 107
Western Canada’s fleet of drilling rigs went up by 4 to 104 according to data collected by Baker Hughes for the week of June 14th. Oil drilling went from 59 to 69; natural gas rigs went from 44 to 38. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. oil drillers cut rigs for second week in a row
U.S. energy firms reduced the number of oil rigs operating for a second week in a row, with the country's production growth expected to slow as crude prices dropped close to their lowest levels of the year and most drillers cut spending. Drillers cut one oil rig in the week to June 14, bringing the total count down to 788, still the lowest since February 2018, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. That compares with 863 rigs [Read more]