Woodfibre LNG Ltd said Tuesday it plans to move forward with construction of its proposed C$1.4-C$1.8 billion liquefied natural gas export terminal in British Columbia later this year with the facility expected to be operational by 2023: That could make the Woodfibre plant the first LNG export facility in Canada. There are 18 LNG export projects under development in Canada, including Woodfibre, according to government data from Natural Resources Canada. Royal Dutch Shell Plc , meanwhile, [Read more]
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NEB releases a new report exploring Canada’s gasoline supply chain
CALGARY, May 14, 2019 /CNW/ - Canada's vast gasoline production and transportation infrastructure ensures flexible and reliable supply for Canadians but unique market conditions in each region drive prices at the pump, according to a new report released by the National Energy Board (NEB). The report titled Where does Canada's gasoline come from?, explains the journey a barrel of crude oil travels from the well head into gas tanks of Canadians. It also features an interactive dashboard that [Read more]
Cash-rich Canadian oil firms favour buybacks as other options narrow
CALGARY, Alberta/WINNIPEG, Manitoba, May 14 (Reuters) - Canadian oil producers are raking in the highest revenues in five years thanks to strong global oil prices and Alberta's production cuts, but government intervention has hamstrung their spending abilities, encouraging many to buy back shares and pay down debt. Canada's main crude-producing province effectively became a mini-OPEC this year after the Alberta government imposed production quotas to relieve pipeline congestion and drain a [Read more]
China’s ramping up of tariffs on U.S. LNG means nothing, everything: Russell
China's decision to hike import duties on U.S. liquefied natural gas (LNG) is a move that means very little for the market in the short term, but it has the potential to deliver outsized consequences the longer the levies remain in place. As part of its latest round of retaliatory tariffs on U.S. imports, Beijing increased the duty on LNG shipments from 10 percent to 25 percent. This will make it even more uneconomic for Chinese buyers to purchase LNG cargoes from the United States. The 10 [Read more]
Tidewater Midstream and Infrastructure Ltd. Announces First Quarter 2019 Results and Operational Update
CALGARY, May 14, 2019 /CNW/ - Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Corporation") (TSX: TWM) is pleased to announce that it has filed its condensed interim consolidated financial statements and Management's Discussion and Analysis ("MD&A") for the three-month period ended March 31, 2019. FIRST-QUARTER 2019 FINANCIAL PERFORMANCE Recent Highlights Net loss attributable to shareholders was $7.1 million or $0.02 per share for the first quarter of 2019, [Read more]
Register by 21 May and save $200 – SPE Workshop: Using Instrumentation and Data to Optimize Thermal Operations
Don't miss the SPE Workshop: Using Instrumentation and Data to Optimize Thermal Operations taking place 4–5 June in Calgary, Alberta. This two day workshop features a keynote speaker, over 20 technical presentations and ends with an operator panel session. This event will feature a keynote presentation by Craig Marshall from NEL in Scotland, on Measurement Challenges in Thermal Heavy Oil Production. As a Flow Measurement Consultant at NEL, Craig's responsibilities include working on a variety [Read more]
Delphi Energy Corp. Provides Production Update on First West Bigstone Multi-Well Montney Pad
CALGARY, Alberta, May 13, 2019 (GLOBE NEWSWIRE) -- Delphi Energy Corp. (“Delphi” or the “Company”) is pleased to provide a production update on its first four-well Montney pad at West Bigstone. Over the past two weeks, the Company has brought all four wells on production from its first multi-well pad in West Bigstone with a surface location of 13-34-59-24W5 (“13-34”). Delphi has a 65 percent working interest in the 13-34 pad. Facility upgrades, including provisions for gas lift of wells in the [Read more]
Oilfield services firm Weatherford to file for Chapter 11 bankruptcy
(Reuters) - Oilfield services provider Weatherford International Plc, burdened by a heavy debt load and years of losses, said on Friday it would file for Chapter 11 bankruptcy protection. The company, which at its peak was valued at more than $50 billion, never recovered from the 2014 oil price collapse. Efforts under Chief Executive Officer Mark McCollum to quickly sell assets and pare debt struggled. Weatherford expects to reduce its long-term debt by more than $5.8 billion, through the [Read more]
Pacific Oil & Gas Ltd. To Acquire Canbriam Energy Inc.
CALGARY, May 13, 2019 /PRNewswire/ - Canbriam Energy Inc. ("Canbriam") and Pacific Oil and Gas Ltd. ("PO&G") today jointly announce the signing of definitive documents for the acquisition by PO&G of all of the issued and outstanding shares of Canbriam for cash consideration (the "Transaction"). Canbriam's Board of Directors has provided unanimous approval of the Transaction, and all of the officers, directors and significant shareholders of Canbriam representing greater than 90 percent [Read more]
Alberta premier Jason Kenney says provincial carbon tax will die May 30
EDMONTON - Premier Jason Kenney says Alberta's carbon tax will be dead soon. Kenney says the Carbon Tax Repeal Act is to be introduced during next week's legislature sitting and will have a proviso to end the tax by the end of the month. "By May 30th there will no longer be an Alberta carbon tax," Kenney said Monday at a news conference outlining some of the legislation coming from his new United Conservative government. An end to the tax implemented by the former NDP [Read more]