EDMONTON - Alberta will work with Indigenous groups in the province's remote northeast corner on what the government says will be Canada's largest off-the-grid solar power project. The plan is for 7,500 solar panels to be erected at the power plant near the airport at Fort Chipewyan. It's expected the solar farm will be operating by next year and replace the equivalent of 800,000 litres of diesel fuel — about 25 per cent of the community's energy use. Alberta is contributing $3.3 [Read more]
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Murphy Oil Corporation Announces Leadership Changes
EL DORADO, Ark.--(BUSINESS WIRE)--Murphy Oil Corporation (NYSE: MUR) announced today that Eugene T. (Gene) Coleman, Executive Vice President, Exploration & Business Development, has elected to retire effective February 28, 2019, after 17 years of service at Murphy and more than 38 years of energy industry experience. At that time, the responsibility for Exploration will be assumed by Michael K. (Mike) McFadyen, Executive Vice President, Offshore, and the responsibility for Business [Read more]
ARC Resources Ltd. Announces 118 MMboe of Total Proved Plus Probable Reserve Additions in 2018, Replacing 245 Per Cent of Production, and Delivers Record Proved Producing Reserve Additions of 82 MMboe
CALGARY, Feb. 7, 2019 /CNW/ - (ARX - TSX) ARC Resources Ltd. ("ARC" or the "Company") is pleased to report its 2018 year-end reserves and resources information. "ARC delivered another exceptional year of reserves results, including record proved producing reserve additions of 82 MMboe. Strong well performance from all of our Montney assets resulted in positive technical revisions and material reserves growth in 2018. These results highlight the depth of ARC's low-cost Montney portfolio, which [Read more]
ARC Resources Ltd. Reports Fourth Quarter and Year-end 2018 Financial and Operational Results
CALGARY, Feb. 7, 2019 /CNW/ - (ARX - TSX) ARC Resources Ltd. ("ARC" or the "Company") is pleased to report its fourth quarter and year-end 2018 financial and operational results. Fourth quarter production averaged 136,502 boe per day, net income was $159.7 million ($0.45 per share), funds from operations totaled $208.6 million ($0.59 per share), and net debt was $702.7 million as at December 31, 2018. ARC's audited consolidated financial statements and notes ("financial statements") and ARC's [Read more]
The 2019 Global Petroleum Show Strategic and Technical Conference Program is now available
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Part of Keystone, Platte oil pipeline shut after potential leak
A portion of TransCanada Corp's Keystone oil pipeline and Enbridge's Platte pipeline remained shut on Thursday for investigation of a possible leak in the St. Louis, Missouri, area, officials said.TransCanada shut the pipeline down on Wednesday between Steele City, Nebraska and Patoka, Illinois and dispatched crews to assess the situation, company spokesman Terry Cunha said in an email.The 590,000 barrels-per-day Keystone pipeline is a critical artery taking Canadian crude from [Read more]
Heavy crude differential widens after part of Keystone line shuts
The Canadian heavy oil differential widened modestly against the West Texas Intermediate (WTI) benchmark on Thursday, after a portion of the critical Keystone pipeline shut down due to a potential leak:* Western Canada Select (WCS) heavy blend crude for March delivery in Hardisty, Alberta, was trading at $9.90 a barrel below WTI crude futures after word of the shutdown spread, wider than earlier trades at $9.40. The spread had settled at $10 below WTI on Wednesday, according to Net Energy [Read more]
Tidewater Midstream and Infrastructure Ltd. – Non-Core Property Divestiture
Sayer Energy Advisors has been engaged to assist Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Company”) with the sale or farmout of certain oil and natural gas interests located in the Montney resource play region of northeastern British Columbia (the “Properties”). The Properties offer production potential from multiple reservoirs alongside key Tidewater infrastructure with substantial drilling upside in the Montney Formation. The Properties are connected to an [Read more]
Clearview Resources – Duvernay Rights for Sale
Clearview Resources holds 100% working interest in 9.5 sections of prospective Duvernay oil rights located in the Northville area of Alberta. It is looking to dispose of these rights through a private land sale process. Please submit bids to Clearview’s land department at land@clearviewres.com. Bids deadline: March 6, 2019 at 12pm Highlights: Clearview’s Duvernay rights are along the Duvernay trend where there has been, and continues to be, a flurry of land sale [Read more]
TransCanada’s Keystone oil pipeline shut after possible leak near St Louis – traders
A part of TransCanada Corp's Keystone oil pipeline was shut on Wednesday after a possible leak in the St Louis, Missouri, area, according to three sources familiar with the matter.It was unclear, however, if the leak was from the Keystone pipeline itself, traders said, adding that the Steele-City-to-Patoka line was shut."The release is stopped," said an official from Missouri Department of Natural Resources, adding that the spill occurred north of the city of St. [Read more]