If you think some of the daffy claims and stunts by climate alarmists mean the movement is coming unglued, you’d be quite mistaken. On the contrary, a group called Extinction Rebellion has taken to gluing themselves to everything in sight including radical British Labour leader Jeremy Corbyn’s house to widespread applause. You’d think more normal radicals would want to pry themselves loose from this thing. Instead they are being drawn toward it. A particularly glaring example was actress Emma [Read more]
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Gunmen kidnap Canadian, Scottish oil workers from Nigerian oil rig
Gunman kidnapped three oil workers from Canada, Scotland and Nigeria at a rig in Nigeria's Delta region on Saturday, officials said - the second abduction in the area in less than a week. The attackers raided the rig owned by Niger Delta Petroleum Resources in Ogbele, Rivers State at around 8 a.m. (0700 GMT), the spokesman for the area's military operations, Major Ibrahim Abubakar, said. Troops were searching surrounding swamps, he added. State police said they had stepped up security on [Read more]
Connacher Announces Q4 2018 and Year-End 2018 Results
CALGARY, April 26, 2019 /CNW/ - Connacher Oil and Gas Limited ("Connacher" or the "Company") announces its financial and operating results for the quarter- and year-ended December 31, 2018 (all amounts are in Canadian dollars unless otherwise noted). Q4 2018 and Year-End 2018 Highlights Financial Q4 2018 revenue, net of royalties, decreased to $19.6 million (Q4 2017 - $61.2 million), primarily due to lower crude oil benchmark pricing, lower sales volumes, and a reclassification [Read more]
Connacher Reports Year-End 2018 Reserves
CALGARY, April 26, 2019 /CNW/ - Connacher Oil and Gas Limited ("Connacher" or the "Company") announces its year-end reserves as of December 31, 2018, as evaluated by GLJ Petroleum Consultants Ltd. ("GLJ"), independent qualified reserves evaluators. Proved producing reserves decreased by approximately 1.8 million barrels (gross) to 11.5 million barrels (gross). The net present value of future net revenue before income taxes (discounted at ten per cent) ("10% PV") of the proved producing [Read more]
Kenney meets caucus, says election win already rippling through Alberta economy
EDMONTON - Alberta's incoming premier, Jason Kenney, met with his caucus Friday and told members that their United Conservative election win is already starting to ripple through the economy. "All week long, I've been receiving calls from CEOs from major corporations across Canada and around the world who want to invest in Alberta now," Kenney said in a speech Friday bookended by standing ovations at Edmonton's Federal Building. "People are making real, tangible life decisions — buying new [Read more]
An Alberta refinery could help with squeezed gas supply in B.C.: Premier Horgan
LANGFORD, B.C. - British Columbia Premier John Horgan says Alberta may be the best place to boost refining capacity to increase a supply of fuel to the province. The price of gasoline has been rising in B.C. for the last month and the cost for a litre of gas in Metro Vancouver has been hovering around $1.70. Horgan says part of the problem is there's too much demand and not enough supply, but adds that a 30-cent rise in gas prices in the last three months appears to be a result of gouging [Read more]
Hess Corporation Makes Application to Cease to Be a Reporting Issuer in Canada
NEW YORK--(BUSINESS WIRE)--Hess Corporation (NYSE: HES) ("Hess") announced today that it has applied to the Ontario Securities Commission (the "OSC") to cease to be a reporting issuer in Ontario (the "Order"). Hess has not been listed on a Canadian stock exchange for twenty years, and is not a reporting issuer in any other Canadian jurisdiction. If the OSC grants the Order, Hess will cease to be a reporting issuer in Canada but will continue to file all financial statements and other [Read more]
Oil companies say industry could take on Alberta crude-by-rail deals
CALGARY, Alberta/ WINNIPEG, Manitoba, April 26 (Reuters) - Executives at some of Canada's biggest oil producers say the private sector could potentially step in to take over Alberta government crude-by-rail contracts that the province's new premier has vowed to scrap. Alberta signed contracts to lease 4,400 rail cars and ship up to 120,000 barrels per day of crude by rail to help ease congestion on overcrowded oil export pipelines. The $4-billion plan was formulated last year by Rachel [Read more]
Canada Weekly Rig Count Down 3 to 63
Western Canada’s fleet of drilling rigs went down to 63 according to data collected by Baker Hughes for the week of April 26th. From last Friday, Alberta rig counts went down 2 to 46. Saskatchewan's rig count remained at 1 Oil drilling remained at 19; natural gas rigs went from 47 to 44. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. oil drillers make biggest rig cuts in over 3 months
U.S. oil drillers this week cut the most rigs in over three months and reduced the number of oil rigs operating for a second week in a row and for the fifth straight month, as independent producers follow through on plans to cut spending on new drilling and completions. Drillers cut 20 oil rigs in the week to April 26, the steepest decline since the week to Jan. 18, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. . The U.S. rig count, [Read more]