At this point, it has been made perfectly clear that the federal government of Canada, led by Prime Minister Trudeau and his puppetmaster, Gerald Butts, are determined to grind western Canada's oil and gas industry to a halt. The list of liberal-strikes on this industry is extensive, and the reality is clear: they have turned away investment, and hundreds of thousands of people are unemployed at their hands. Yesterday, one of the few good Senators in Ottawa, Doug Black from Alberta, offered [Read more]
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Obsidian Energy Releases 2018 Reserves Results, Announces Company Update and Revises 2019 Guidance
CALGARY, Feb. 11, 2019 /PRNewswire/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to release its year-end 2018 independent reserves evaluation and provide Company updates on our recent drilling results, marketing and hedging portfolio, 2019 development and guidance revisions. 2018 Year-End Reserves Summary The Company is pleased to present the results of its year-end 2018 independent reserves evaluation, prepared by [Read more]
Indigenous pro-oil rally in Alberta stresses energy industry is vital for them
LAC LA BICHE, Alta. - Indigenous supporters of Canada's oil and gas industry turned out here in force Sunday to make the point that the sector plays a vital role in their lives. "It doesn't matter if you're a business owner or a worker or an aboriginal community. We're all in this together," Lee Thom, a councillor from Kikino Metis Settlement, told a crowd gathered in a recreation centre in Lac La Biche, Alta. Rene Houle from Whitefish Lake First Nation said the energy industry [Read more]
B.C. Oil and Gas Commission warns Coastal GasLink over pipeline construction
VANCOUVER - Coastal GasLink must submit a notice of construction at least 48 hours before it starts work under its permit to build a pipeline that is opposed by some members of the Wet'suwet'en First Nation, the B.C. Oil and Gas Commission said. The commission has warned the Calgary-based company after it received complaints from the Office of the Wet'suwet'en that alleged that Coastal GasLink engaged in construction without an archaeological impact assessment and also destroyed [Read more]
Heavy crude discount grows, Keystone section stays closed
The Canadian heavy oil differential widened against the West Texas Intermediate (WTI) benchmark on Friday, as a section of the Keystone pipeline remained closed because of an oil leak in Missouri:* Western Canada Select (WCS) heavy blend crude for March delivery in Hardisty, Alberta, was trading at $11 a barrel below WTI crude futures wider than Thursday's settle at $10.25 below WTI, according to Net Energy Exchange.* A portion of TransCanada Corp's Keystone oil pipeline between [Read more]
U.S. drillers add oil rigs for second week in three -Baker Hughes
U.S. energy firms this week increased the number of oil rigs operating for the second time in three weeks after oil prices soared over 18 percent in January.Companies added 7 oil rigs in the week to Feb. 8, bringing the total count to 854, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. .The U.S. rig count, an early indicator of future output, is still higher than a year ago when 791 rigs were active after energy companies boosted [Read more]
Enbridge to fully restart Platte Pipeline by Saturday after Missouri oil leak
Enbridge Inc said on Friday that it has begun a restart plan for its Platte Pipeline, after a leak of oil near St. Louis, Missouri this week.The company expects the full pipeline to resume normal operations by Saturday morning and is "highly confident" that Platte is not the source of the leak, spokesman Devin Hotzel said.A spill in rural St. Charles County, Missouri on Wednesday also led TransCanada Corp to shut its Keystone pipeline on Wednesday between Steele City, Nebraska [Read more]
Oil edges up, heads for weekly loss on slowdown worries
Oil inched up on Friday but was heading for a weekly loss, pulled down by worries about a global economic slowdown, although OPEC-led supply cuts and U.S. sanctions against Venezuela provided crude with some support. Weighing on financial markets were concerns that a trade dispute between the United States and China would remain unresolved, denting global economic prospects. U.S. West Texas Intermediate crude futures stood at $52.53 per barrel, down 11 cents and looking at a 5 percent [Read more]
Washington Governor will try to influence Trans Mountain ‘every way’ it can
SEATTLE - Washington Gov. Jay Inslee says his state shares concerns with British Columbia about the Trans Mountain pipeline expansion and will continue to voice its objections any way it can. Inslee made the comments at a joint news conference in Seattle on Thursday with B.C. Premier John Horgan, who is visiting the state to discuss partnerships on endangered killer whales, clean energy and high-speed rail. Asked how Washington could influence the pipeline project, Inslee replied: "Every [Read more]
Crew Energy Announces Year End 2018 Reserves
CALGARY, Feb. 7, 2019 /CNW/ - Crew Energy Inc. (TSX: CR) of Calgary, Alberta ("Crew" or the "Company") is pleased to provide highlights from our independent corporate reserves evaluation prepared by Sproule Associates Ltd. ("Sproule") with an effective date of December 31, 2018 (the "Sproule Report"). 2018 RESERVES HIGHLIGHTS With net capital expenditures of $93 million ($103.2 million gross)1, Crew successfully expanded reserves through the drilling of ten (10.0 net) and completion of 14 [Read more]