Artificial lift systems under-perform when faced with unstable slug flows from a horizontal wellbore. Slug flows bring solids issues and pump gas interference which increases operating expenses from poor runtime, excessive workover costs, and inadequate production drawdown. Five years ago, the HEAL System was developed by a producer to address slug flow challenges. Its capability to provide desired production drawdown with artificial lift system reliability has improved horizontal well [Read more]
Headlines
Crew Energy Inc. Announces 2019 Capital Budget and Guidance
CALGARY, Dec. 10, 2018 /CNW/ - Crew Energy Inc. (TSX: CR) ("Crew" or the "Company") today is pleased to announce the Company's 2019 capital expenditure budget, approved by Crew's Board of Directors. With continued volatility and weakness in Canadian oil and natural gas prices, the Company believes it is prudent to develop a plan that can be adjusted dependent on commodity prices. Crew will continue to closely monitor prices and differentials and will adhere to a disciplined and conservative [Read more]
Athabasca Oil Corporation Announces $265 Million Leismer Infrastructure Transaction, Preliminary 2019 Capital Guidance of $95 – $110 Million and Streamlined Cost Structure
CALGARY, Alberta, Dec. 10, 2018 (GLOBE NEWSWIRE) -- Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) is pleased to provide an update on its midstream process, preliminary 2019 capital guidance expectations and its recent reductions in corporate costs. Strategic Infrastructure Transaction Athabasca has entered into an agreement with Enbridge Inc. (“Enbridge”) for the sale of its Leismer pipelines and Cheecham storage terminal (“Leismer Infrastructure Transaction”). Enbridge [Read more]
Husky Energy offers apology for largest ever oil spill off Newfoundland coast
ST. JOHN'S, N.L. - Husky Energy is apologizing for Newfoundland's largest-ever oil spill last month, which saw 250,000 litres leak into the ocean. The huge spill of oil, water and gas happened while Husky Energy's SeaRose platform was preparing to restart production during a fierce storm that was, at the time, the most intense in the world. In a statement Monday, the company says it is "deeply sorry" for the incident and is committed to learning from it and putting measures in place "to [Read more]
Natural gas bills in British Columbia set to rise after pipeline explosion
SURREY, B.C. - Most British Columbia residents will pay more for natural gas after an Enbridge pipeline exploded in October near Prince George. FortisBC says it's received regulatory approval from the B.C. Utilities Commission on interim rates for customers to take effect Jan. 1. Diane Roy, vice-president of regulatory affairs, says in a release that Fortis strives to deliver natural gas at the lowest reasonable cost. But she says there has been an impact to costs associated with [Read more]
Quebec premier lacks understanding of Alberta’s energy industry: Ceci
OTTAWA - Alberta's finance minister says Quebec's resistance to a pipeline carrying western Canadian oil across its territory shows the provincial premier's lack of understanding about the Alberta energy industry. Speaking ahead of a federal-provincial finance ministers' meeting today in Ottawa, Joe Ceci argues Alberta has been innovative in removing carbon from the oil it produces. Ceci says the entire national economy will benefit if Alberta can transport its oil to international markets [Read more]
Hess, Conoco raise 2019 production outlook
Oil and gas producer Hess Corp and Conocophillips both expect production for 2019 to be higher than this year even as they spend roughly the same amount of money on exploration, the companies said on Monday.Investors have been urging U.S. oil companies to increase returns on tight spending at a time when they are also looking beyond the Permian Basin, which is getting crowded and costly.Hess said the lion's share of its 2019 capital expenditure will go towards exploration in Guyana [Read more]
Pulse Oil Corp. Announces the Start of Drilling Operations at Queenstown Light Oil Field
CALGARY, Dec.10, 2018 /CNW/ - Pulse Oil Corp. ("Pulse" or the "Company") (TSX-V: PUL and PUL.WT) announces Pulse's first horizontal drilling program is now underway. The first well was spudded on December 7, 2018 and is expected to be drilled and ready for completion within the next 10 days, followed by a second well from the same surface location. Both wells are expected to be completed and tested in January once the drilling rig has moved off site and, if successful, new production will [Read more]
ConocoPhillips Announces 2019 Capital Budget and Operating Plan; Recent Oil Price Volatility Highlights Investment Appeal of Company’s Differentiated Value Proposition
HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today announced its 2019 capital expenditure budget and operating plan. The operating plan reflects the company’s ongoing commitment to free cash flow generation, differentiated payout to shareholders and superior financial returns through business cycles. The 2019 operating plan is expected to continue driving underlying improvement in return on capital employed. Key highlights are: Planned 2019 capital expenditures of $6.1 billion [Read more]
Pembina Pipeline Corporation Announces 2019 Capital Program and Guidance
CALGARY, Dec. 10, 2018 /CNW/ - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) is pleased to announce a capital program of $1.6 billion and an Adjusted EBITDA guidance range of $2.8 to $3.0 billion for 2019. "We are pleased to announce our capital program for 2019 and look forward to another year of significant growth in our underlying business and further development of our value chain extension projects. Pembina's 2019 capital program will advance a [Read more]