CALGARY - The CEOs of nine Alberta natural gas producers have released an open letter to Premier Jason Kenney asking him to show "bold leadership" in supporting a plan to restrict production to boost low gas prices. The letter warns the province faces a high likelihood of corporate failures, job losses and falling investment levels if the situation is allowed to continue. "It is imperative that the government of Alberta intercedes as the viability of the Alberta natural gas [Read more]
Headlines
Kinder Morgan Canada Limited Declares Dividend and Announces Results for Second Quarter of 2019
CALGARY, July 17, 2019 /CNW/ - The Kinder Morgan Canada Limited (TSX: KML) board of directors has declared a dividend for the second quarter of 2019 of $0.1625 per restricted voting share ($0.65 annualized), payable on August 15, 2019, to restricted voting shareholders of record as of July 31, 2019. KML's restricted voting share dividends are eligible dividends for Canadian income tax purposes. "I congratulate every KML employee for their focus and dedication to business during the [Read more]
U.S. approves Kinder Morgan’s proposed Mississippi Gulf LNG export plant
U.S. energy regulators approved Kinder Morgan Inc's application to build a liquefied natural gas (LNG) export facility at its Gulf LNG plant in Mississippi: * The U.S. Federal Energy Regulatory Commission (FERC) said in a filing late on Tuesday that the new export terminal will include two liquefaction trains with the capacity to export a total of 10.85 million tonnes per annum (mtpa) of LNG or 1.45 billion cubic feet per day (bcfd) of natural gas. * One billion cubic feet of natural gas [Read more]
Stratas Advisors Upgrades its Oil Price Outlooks
HOUSTON, July 17, 2019 /PRNewswire/ -- Stratas Advisors has slightly raised its 2019 and 2020 oil price outlooks after seeing stronger than expected second quarter prices. "As we have discussed previously, volatility is the name of the game this year as fundamentals nearing balance means that spot prices are often set by sentiment and headlines. The overall expected path of prices has seen very little change, and remains constructive through 2020," said Ashley Petersen, senior oil [Read more]
U.S. crude stockpiles fall in latest week – EIA
U.S. crude stockpiles fell more than expected last week, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories fell by 3.1 million barrels in the last week, compared with analysts' expectations for a decrease of 2.7 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub fell by 1.35 million barrels, EIA said. Refinery crude runs fell by 171,000 barrels per day, EIA data showed. Refinery utilization rates [Read more]
U.S. natgas futures rise on lower output, higher cooling demand forecasts
U.S. natural gas futures edged higher on Wednesday after plunging more than 4% in the prior session as forecasts for less production and slightly higher cooling demand over the next two weeks offset a decline in expected liquefied natural gas (LNG) exports. Front-month gas futures for August delivery on the New York Mercantile Exchange were up 3.1 cents, or 1.3%, to $2.337 per million British thermal units (mmBtu) at 8:45 a.m. EDT (1245 GMT). On Tuesday, the market fell by its biggest daily [Read more]
Point Loma Resources Announces Entering into an Agreement to Market its Wizard Lake Rex Oil Property
CALGARY, AB / ACCESSWIRE / July 17, 2019 / Point Loma Resources Ltd. (TSX VENTURE: PLX) (the "Corporation" or “Point Loma”) is pleased to announce the retention of Mackie Research Capital Corporation (“MRCC”) to market the Corporation’s Wizard Lake Rex oil property in central Alberta. Highlights: MRCC and Point Loma have entered into an engagement agreement whereby Mackie will canvas the market for parties potentially interested in a transaction to acquire the Corporation’s interest in [Read more]
Webinar: Increase margins with minor operational changes
Billions of dollars in public and private capital projects are either planned or currently under construction, and businesses operating in the oil and gas sector need to prepare themselves to capitalize on opportunities. Those set to action operationally will make initial gains vis-a-vis their competitors, but it’s the businesses that marry their on-the-ground operational sophistication with a streamlined back office support process that will ultimately outlast and outperform their industry [Read more]
XI Technologies: Adopting a Well Data Management Approach for Liabilities
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. Following the Supreme Court of Canada Redwater decision in January in favour of the AER and Orphan Well Association, producers must change the way they manage liability regarding end-of-life obligations. These changes are necessary [Read more]
Journey Energy Inc. Provides Update on Encouraging Results From First Three Duvernay Wells
CALGARY, July 16, 2019 /CNW/ - Journey Energy Inc. (JOY – TSX) ("Journey" or the "Company") is pleased to provide an update on our Joint Venture with Kiwetinohk Resources Corp. ("Kiwetinohk") in the East Duvernay, including the encouraging test rates achieved by the first three wells. East Duvernay Joint Venture Operational Update Since entering into the Joint Venture arrangement on August 29th, 2018, Kiwetinohk and Journey have been actively advancing the development of the East Duvernay [Read more]