CALGARY, Feb. 6, 2019 /CNW/ - (TSX:PMT) – Perpetual Energy Inc. ("Perpetual", or the "Company") is pleased to release a summary of the Company's year-end 2018 reserves as reported by the independent engineering firm McDaniel and Associates Consultants Ltd. ("McDaniel"). To preserve value during the low natural gas price environment in Alberta in 2018, Perpetual limited capital spending on natural gas assets, executing a capital program funded through 2018 adjusted funds flow with investment [Read more]
Headlines
Suncor CEO sees Alberta government oil curtailments ending early
Suncor Energy Inc , one of Canada's biggest oil producers, expects the province of Alberta to end mandatory production curtailments ahead of schedule as they have caused a price boost that makes rail shipments uneconomic, Chief Executive Officer Steve Williams said on Wednesday. Such unintended consequences are happening faster than the Alberta government likely expected, and it should now plan for a "soft exit" from curtailments that is fair to producers, Williams said on a quarterly [Read more]
United States becomes top source for Britain’s oil imports
* Crude oil imports from the United States to Britain in January overtook supplies from other countries for the first time since such shipments began in 2015, data from energy analysts at Kpler showed.* The United States lifted an oil export ban in 2015.* British imports of U.S. oil reached 264,000 barrels per day (bpd) last month, compared with Norway's 181,000 bpd in second place and total imports of 738,000 bpd.* Other top exporters to Britain include Algeria, Russia, Nigeria and [Read more]
Oil slips on API report of U.S. inventory rise
Oil edged lower on Wednesday after a report showed a rise in U.S. crude inventories, countering expectations of a tightening market in 2019 due to OPEC-led supply cuts and U.S. sanctions on Venezuela. U.S. crude inventories rose by 2.5 million barrels last week and gasoline stocks also increased, the American Petroleum Institute said. The government’s official supply report is due out later on Wednesday. “The fact that U.S. crude oil and gasoline stocks rose more sharply than expected, as [Read more]
Hemisphere Energy Provides Operations Update with Record Production of Approximately 1600 boe/d
VANCOUVER, Feb. 6, 2019 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") is pleased to provide an update on its Southern Alberta operations following the 11 well drilling program that was completed in the fall of 2018. Based on field estimates, corporate production during the period of January 28 to February 4, 2019 averaged approximately 1600 boe/d (96% oil). Oil production rates are continuing to improve after bringing certain wells back on production that [Read more]
Canada in the race to build LNG export terminals and capture growing demand from Asian countries
Since 2011, 24 LNG projects have been issued long-term export licences in Canada. Canada only has one operational LNG terminal – Canaport LNG’s regasification import terminal located in Saint John, New Brunswick. Proposals for developing 18 LNG export facilities currently exist. They include five in eastern Canada – two in Quebec, three in Nova Scotia – and 13 others on its west coast, all in British Columbia. The largest of the proposed LNG export terminals is LNG Canada’s export terminal, [Read more]
XI Technologies: How to solve the problem of incomplete STICK diagram information
Each week, XI Technologies scans their unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you'd like Wednesday Word to the Wise delivered directly to your inbox, subscribe here. In 2018, the Alberta Energy Regulator (AER) published a list of the “Five Most Common Noncompliances in Ten Inspection Categories”. The #1 issue for the Drilling Category was: “STICK Diagram does not contain all the required [Read more]
Eagle Energy Inc. Announces Change in Board of Directors
CALGARY, Feb. 5, 2019 /CNW/ - (TSX: EGL): Eagle Energy Inc. ("Eagle") reports that, due to changes in his professional priorities and the reduced availability which those changes entail, Mr. Wes Schrader has announced his decision to retire as a director of Eagle effective immediately. Eagle thanks Mr. Schrader for his service to the company and wishes him continued success in his new activities. Mr. John Melton, who is an independent director of Eagle's operating subsidiary in the United [Read more]
Suncor Energy reports fourth quarter 2018 results
Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards, specifically International Accounting Standard 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a working interest basis, before royalties, except for Libya, which is on an entitlement basis. Certain financial measures referred to in [Read more]
Higgs says no progress on carbon tax and other issues after meeting with Trudeau
OTTAWA - New Brunswick Premier Blaine Higgs says his latest meeting with the prime minister produced little or no progress on major issues facing his province. Higgs met with Justin Trudeau on Tuesday in Ottawa, but the premier said there was no movement on the contentious issue of the federal government's carbon tax. New Brunswick is an intervener in legal challenges launched by Saskatchewan and Ontario and has launched its own legal challenge of the carbon tax. Higgs [Read more]