A Native American tribe in Wisconsin is suing Canadian pipeline company Enbridge Inc in a bid to have an oil pipeline that runs across its tribal land shut down and removed. The Bad River Band filed a federal lawsuit against Enbridge on Tuesday in the Western District of Wisconsin calling for the 12-mile section of Line 5 that runs across its reservation to be declared "public nuisance and a trespass." The lawsuit says there is a risk the 66-year-old pipeline could rupture and spill oil, [Read more]
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Global oil market in glut, but not a big enough one for OPEC
OPEC has shifted the goalposts for assessing an overhang in oil inventories, giving the group more room to prolong production cuts, while analysts warn the move will offer a distorted view of market conditions. Ever since the Organization of the Petroleum Exporting Countries and allies led by Russia - a grouping known as OPEC+ - started curbing oil output two and a half years ago, they have targeted bringing oil in storage in the industrialized world in line with the five-year average. In [Read more]
XI Technologies: Why using LLR can cause inaccurate abandonment cost estimates
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 to receive our Wednesday Word to the Wise in your inbox, subscribe here. The Alberta Energy Regulator’s Licensee Liability Rating (LLR) Directive 011 deemed liability values are the most commonly accepted measure of asset retirement obligation (ARO) in Alberta. Unfortunately, as we at XI Technologies [Read more]
Sympathy for politicians? Maybe – consider their tool kit, the electoral freak show, and the stupefying demands and realities they face
Multi-election years are trying times for those that don't enjoy the game of politics. If one is immune to the charms of glad-handing and full-frontal bullshitting, exposure to the black art of politics at a minimum leads to dry heaves, and, in high enough concentrations, a stay in a hospital. Some feel otherwise; a university friend and I once debated the merits of choosing the political life. He defended the career path on the grounds that working for the public interest was a noble [Read more]
Cenovus releases 2018 environmental, social & governance report
CALGARY, Alberta, July 23, 2019 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX: CVE) (NYSE: CVE) has published its 2018 environmental, social & governance (ESG) report detailing the company's progress in advancing environmental, health and safety performance, investing in and engaging with the communities where it operates and maintaining the highest standards of corporate governance. A number of Cenovus’s key performance indicators for land, air and water improved last year, partly due to [Read more]
New Oil and Gas Jobs From BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Jul. 23 Loader / Zoom Boom Operator Strike Group Airdrie Jul. 23 Loader / Zoom Boom Operator Strike Group Projects Jul. 23 OFA 3 / EMR Trojan Safety [Read more]
Pipestone Energy Corp. Announces a Midstream Transaction to Fund the Acceleration of a Three Well Completion Program to Delineate Its Eastern Montney Acreage
CALGARY, Alberta, July 23, 2019 (GLOBE NEWSWIRE) -- (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) is pleased to announce it has entered into a strategic midstream transaction (the “Midstream Transaction”) with Tidewater Midstream and Infrastructure Ltd. (“Tidewater”). The initial capital to be received by Pipestone Energy from Tidewater pursuant to the Midstream Transaction will be deployed to accelerate a three-well completion program at its 9-14-71-07W6 (“9-14”) [Read more]
Tidewater Announces Pipestone Strategic Core-Area Acquisition and Associated 10-year Take-or-Pay Contracts, $75 Million Bought Deal Offering of Convertible Debentures and CEO’s Intention to Acquire Additional Shares
CALGARY, Alberta, July 23, 2019 (GLOBE NEWSWIRE) -- Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Corporation") (TSX:TWM) is pleased to announce that it: has entered into an agreement to acquire from Pipestone Energy Corp. ("Pipestone Energy"), a 100% working interest in a strategic 30 MMcf/d raw gas compression, 5,400 bbls/d condensate handling and associated water disposal battery (“Pipestone East Battery”) for total consideration of up to $30 million in cash (the [Read more]
Drilling forecast goes from bad to worse after slow start to summer deployments
CALGARY - The Canadian oilfield services sector is expected to continue to suffer as it enters the summer drilling season despite recent developments such as the approval of the Trans Mountain pipeline expansion and the election of a conservative government in Alberta. In a report that forecasts flat second-quarter financial results in the industry, RBC Dominion Securities analysts say they've cut their 2019 rig activity and well counts for this year by between six and eight per cent. [Read more]
Oil inches up amid Middle East tensions; frail demand outlook caps gains
Oil prices edged higher on Tuesday amid lingering concerns about possible supply disruptions in the Middle East, but an overall weaker demand outlook kept a lid on gains, helped by a vow by the International Energy Agency (IEA) to take swift action to keep global oil markets adequately supplied. West Texas Intermediate (WTI) crude futures were unchanged at $56.22 per barrel. Brent crude futures rose 4 cents to $63.30 a barrel by 0335 GMT. The international benchmark rose more than 1% in [Read more]