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]
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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]
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Canada’s ultimate melting pot is boiling over – Alberta peers into the abyss of separation
When I was a kid growing up in another province, at a time before farmers became rich land barons, it was always easy to spot an oil patch worker coming back home from Alberta for a few days. Invariably they had a fancy new truck, and could be spotted at watering holes regaling old friends with tales of exciting jobs, big money, and a dynamic new life. While leaving home wasn’t always fun, it was a wonderful example of a path that was always open to Canadians living in economically challenged [Read more]
Quebec slams door on New Brunswick’s pipeline dream at premiers’ meeting
MONTREAL - New Brunswick Premier Blaine Higgs remained optimistic Friday that, someday, a pipeline would be built to bring western crude oil to ports in his region for transport overseas. But the Quebec premier tried his best to kill that dream. While the prime minister and Canada's premiers found common ground on issues such as trade during their meeting in Montreal, they were confronted with the harsh reality that Quebec will not accept a pipeline. "I understand that Alberta and the other [Read more]
B.C. halts northeast hydraulic fracturing operations while it investigates earthquakes
CALGARY - The BC Oil and Gas Commission is shutting down oilfield fracing operations in a 72-square-kilometre area in the northeast part of the province for at least 30 days while it investigates earthquakes that occurred there on Nov. 29. The seismic events measuring between 3.4 and 4.5 magnitude took place near hydraulic fracturing operations being conducted about 20 kilometres southeast of Fort St. John by Canadian Natural Resources Ltd. The Calgary-based company was the only operator [Read more]
U.S. oil drillers cut most rigs since May 2016
U.S. drillers this week cut oil rigs by the most in over two year even as record production has turned the United States into a net oil exporter for the first time in history. Drillers cut 10 oil rigs in the week to Dec. 7, the biggest weekly decline since May 2016, bringing the total count down to 877, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. The United States last week exported more crude and refined products than it imported [Read more]