U.S. natural gas futures slightly extended gains on Friday following the release of a federal government report showing a storage draw in line with expectations. Traders noted that the market had risen in thin trade earlier in the day as traders covered shorts despite forecasts of even milder weather. The U.S. Energy Information Administration (EIA) said utilities pulled 58 billion cubic feet (bcf) of gas from storage during the week ended Dec. 27. The report, normally released on [Read more]
Headlines
Oil jumps $2 after U.S. air strike kills Iran, Iraq officials
U.S. West Texas Intermediate (WTI) crude futures rose $1.76, or 2.9%, to $62.94 a barrel after a U.S. air strike killed key Iranian and Iraqi military personnel, raising concerns that escalating Middle East tensions may disrupt oil supplies. Brent crude futures jumped nearly $3 to hit a high of $69.16 a barrel, the highest since Sept. 17. The front-month Brent March contract was at $68.25 a barrel, up $2.00, or 3%, by 0258 GMT. "The supply side risks remain elevated in the Middle East [Read more]
Column: Alberta is being blockaded, something must be done
The current situation facing Alberta is intolerable and cannot be allowed to stand. Like his father, Justin Trudeau believes in weak provinces and a strong Ottawa. And like his father, he is willing to push the constitution beyond past convention to make Ottawa supreme over the provinces. No wonder Alberta Proud has convened a conference of experts on January 18th in Calgary to discuss a credible plan for what Alberta can do. Justin Trudeau has allied with ENGO's to impose a blockade on [Read more]
AltaGas may be forced to increase stake in energy handling firm Petrogas
CALGARY - AltaGas Ltd. says it may be forced to increase its ownership share in Petrogas Energy Corp., an oil and gas liquids handling firm that owns and operates a propane export terminal in Washington state. The Calgary-based utility, power and pipeline company says privately held SAM Holdings Ltd. has given notice it will exercise an option that requires an AltaGas-led joint venture to buy SAM's remaining one-third share in Petrogas at fair market value. In a news release, AltaGas says [Read more]
B.C. Supreme Court grants natural gas pipeline company interlocutory injunction
VANCOUVER - The British Columbia Supreme Court has granted Coastal GasLink an interlocutory injunction against members of a First Nation and others who oppose the company's natural gas pipeline. The company is building a pipeline from northeastern B.C. to LNG Canada's export terminal in Kitimat on the coast. Coastal GasLink says it has signed agreements with all 20 elected First Nations councils along the 670-kilometres route but hereditary chiefs in the Wet'suwet'en First Nation say the [Read more]
Paramount Resources Ltd. Announces Renewal of Normal Course Issuer Bid
CALGARY - Paramount Resources Ltd. ("Paramount" or the "Company") (TSX:POU) announces that its board of directors has approved the implementing of a normal course issuer bid ("NCIB"). A Notice of Intention to make a Normal Course Issuer Bid has been filed with, and accepted by, the Toronto Stock Exchange (the "TSX"). Paramount is implementing the NCIB as the Company's directors and management believe that, from time to time, the market price of Paramount's Class A Common Shares ("Common [Read more]
U.S. shale producers to tap brakes in 2020 after years of rapid growth
Vastly slower U.S. oil growth this year and the prospect of a plateau for the world's top oil producer have signaled a new and unfamiliar era of self-restraint for the go-go shale industry. Spending cuts and production declines common to shale wells mean U.S. output growth is expected to brake from 2019's pace that pushed domestic production past 13 million barrels per day (bpd). Some analyst forecasts for next year call for growth to slow, potentially to a rate of just 100,000 new [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 Dec. 30 Night Shift Battery Operator Roska DBO Grande Prairie Dec. 27 May 2020 - Law Student Opportunities TC Energy Calgary Dec. 27 May 2020 - [Read more]
NorthRiver Midstream acquires Enbridge’s Canadian midstream business
CALGARY, Dec. 31, 2019 /CNW/ - Today, NorthRiver Midstream closed the final stage of the previously-announced transaction and assumed operation of the remaining assets of Enbridge's Canadian midstream business. "With the strategic location of our operations across the Montney basin in British Columbia and Alberta, and the backing of a committed Canadian owner in Brookfield Infrastructure, NorthRiver Midstream is built on an asset base that creates a robust platform for growth," said Brandon [Read more]
Enbridge Closes the Federally Regulated Portion of the Previously Announced Sale of Natural Gas Gathering & Processing Assets in Northern British Columbia to Brookfield Infrastructure
CALGARY - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge) today announced the closing of the agreement through which Enbridge has sold a number of federally-regulated natural gas gathering and processing assets in British Columbia ("G&P Business") to Brookfield Infrastructure (NYSE: BIP) (TSX: BIP.UN) and its institutional partners (collectively, "Brookfield"). These federally-regulated assets represent the second phase of the $4.3 B transaction, previously announced on July 4, [Read more]