CALGARY - Indigenous leaders say they hope other companies will follow the lead of Cenovus Energy Inc. after it pledged to give $10 million per year over the next five years to support housing in six northern Alberta communities near its oilsands operations. Shirley Paradis, a councillor for the Beaver Lake Cree Nation, says the money is needed because the community's housing resources are stretched to the limit and government funding is inadequate to address the growing population. Vern [Read more]
Headlines
CAPP Forecasts $2 billion increase in upstream oil and natural gas investment
CALGARY - Capital spending in the oil and natural gas industry is expected to be about $2 billion higher in 2020 compared to last year. This represents a four per cent increase in capital investment in the conventional side, and an eight per cent increase in the oil sands, according to the Canadian Association of Petroleum Producers (CAPP). Conventional oil and natural gas capital investment for 2020 is forecast at $25.4 billion, up from an estimated $24.4 billion last [Read more]
Oil falls amid spread of Wuhan virus, rising crude inventories
Oil prices fell on Thursday, resuming their declines after a brief pause earlier this week, as alarm spread over the economic impact of the Wuhan virus in China, while a bigger-than-expected increase in U.S. crude stocks added to the negative tone. U.S. crude was down 51 cents, or 1%, at $52.82 a barrel, after dropping 0.3% in the previous session. Brent was down 62 cents, or 1%, at $59.19 a barrel by 0623 GMT, having risen 0.5% on Wednesday. Prices had steadied in recent days, after [Read more]
Column: Politicized, ignorant energy analysis infiltrates some surprising media channels – unchecked it will wipe us all out before climate change has a chance
Oh no, I can feel it, another diatribe coming on. Like a developing migraine, there's no point fighting it, the looming inevitability. My trigger is inadvertently stumbling on blistering displays of energy ignorance, which set me off, and out comes the Incredible Hulk. Look, I don’t want to go there either. I’d rather write about secure and reliable energy supplies, birds chirping, sunshine and koala bears. I keep my nose clean; I stay away from the CBC and similar to avoid the obvious [Read more]
Cold Bore Technology Closes Deals & Installs SmartPAD Completions Technology with Two New Permian Fracking Operators
CALGARY, Alberta - Cold Bore Technology Inc. (“Cold Bore”), a leader in completion optimization technology, announced today that it had finalized new deals with two leading energy producers based in Western Texas’ Permian Basin and completed installation of its SmartPAD completions operating system. The contracts represent the latest in a growing number of SmartPAD installations with major operators across North American fields over the past 12 months. The SmartPAD is the industry’s first [Read more]
TransGlobe Energy Corporation Announces a Canadian Operations Update
This Announcement contains inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 (“MAR”). Upon the publication of this Announcement, this inside information is now considered to be in the public domain. CALGARY, Alberta - AIM & TSX: “TGL” & NASDAQ: “TGA” TransGlobe Energy Corporation (“TransGlobe” or the “Company”), announces a Canadian operations update and appointment of an investor relations advisor. All dollar values are expressed in US dollars [Read more]
Zargon Oil & Gas Ltd. Announces Q4 2019 Production Volumes, Abandonment Activities in 2019 and Year End Reserves
CALGARY, Alberta, Jan. 29, 2020 (GLOBE NEWSWIRE) -- Zargon Oil & Gas Ltd. (the “Company” or “Zargon”) announces fourth quarter 2019 production volumes, 2019 abandonment activities and 2019 year end reserves. Zargon intends to release its 2019 audited financial results on March 12, 2020, after market close. 2019 FOURTH QUARTER PRODUCTION VOLUMES: Fourth quarter 2019 production averaged 1,746 barrels of oil equivalent per day, a two percent improvement from the third quarter 2019 rate of [Read more]
Alberta panel suggests schools ‘balance’ lessons about climate change, oilsands
CALGARY - Alberta's education minister is endorsing a panel report that recommends school children learn all view about climate change along with the value of the province's oil and gas sector. Adriana LaGrange says she is receiving reports from parents of "extremist views" being taught in schools. "There was a particular document that was shown to me recently — and I currently have my department exploring — in terms of our children being taught that they are the final generation to deal [Read more]
Cenovus credits quota easing as it ramps up crude-by-rail output to 100,000 bpd
CALGARY - An executive with Cenovus Energy Inc. says it produced more crude in December thanks to the Alberta government's decision last fall to allow producers to exceed provincial quotas if they move the additional barrels by rail. Executive vice-president Drew Zieglgansberger says the oilsands company met its goal of ramping up its crude-by-rail shipments to 100,000 barrels per day by the end of last month, an accomplishment that he said bodes well for its oilsands expansion plans this [Read more]
Ovintiv Posts Anadarko Day Materials; Provides First Look at Strong 2019 Operational Results
Company boosts returns by reducing STACK drilling and completion costs to $6.0 million per well DENVER, CO, Jan. 29, 2020 /CNW/ - Ovintiv Inc. (NYSE, TSX: OVV) released materials associated with its Anadarko Day conference call and webcast, planned for today at 2:30 p.m. MT (4:30 p.m. ET). In addition, initial operating results for 2019 were disclosed with the Company exceeding guidance expectations. To participate in the conference call, dial 866-211-4955 (toll-free in North America) or [Read more]