Western Canada’s fleet of drilling rigs decreased by 12 rigs to a total of 224 according to data collected by Baker Hughes for the week of February 22nd. From last Friday, Alberta rig counts went from 153 to 144. Saskatchewan's rig count remained at 53. Oil drilling went from 152 to 144; natural gas rigs went from 72 to 68. View a full breakdown of western Canada’s rig activity. [Read more]
Headlines
A look at 16 new recommendations for Ottawa on the Trans Mountain pipeline
The National Energy Board has endorsed an expansion of the Trans Mountain pipeline. If approved by Ottawa, the regulator says it will impose 156 conditions on the project. It has also made 16 new recommendations for the federal government. 1. Develop a plan to assess the effects on the Salish Sea and a long-term strategy to manage those effects. 2. Release a public, annual report on the Salish Sea and any gaps in measures to address effects. 3. Develop a marine bird monitoring and [Read more]
U.S. oil drillers cut rigs for first week in three
U.S. energy firms this week cut the number of oil rigs operating for the first time in three weeks week after U.S. crude production hit an all-time high, boosting exports to a record high and stockpiles to their highest in over a year. Drillers cut four oil rigs in the week to Feb. 22, bringing the total count down to 853, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. For the month, the rig count fell by nine. That was the first time [Read more]
NEB recommends expanding Trans Mountain Pipeline
Canada's National Energy Board (NEB) regulator recommended on Friday that Ottawa approve expansion of the government-owned Trans Mountain oil pipeline, but made new, nonbinding recommendations to mitigate harm to Pacific Ocean killer whales and the environment.The pipeline is in the national interest as it will create jobs and give Canadian oil access to more markets, the NEB said in a report. But expanding it is likely to significantly harm the killer whale population off the coast of [Read more]
NEB releases Reconsideration report for Trans Mountain Expansion Project
CALGARY, Feb. 22, 2019 /CNW/ - The National Energy Board (NEB) today delivered its Reconsideration report to the Government of Canada, with an overall recommendation that the Trans Mountain Expansion Project (Project) is in the Canadian public interest and should be approved. The NEB will impose 156 conditions on the Project if it is approved, and has made 16 new recommendations to the Government of Canada. The recommendations relate to matters that fall outside of the NEB's regulatory [Read more]
Senator refuses to apologize for remark urging convoy ‘roll over’ Liberals
OTTAWA - Conservative Sen. David Tkachuk says he won't apologize for comments he made at a pro-pipeline rally in Ottawa, calling criticism that he was inciting violence "manufactured outrage." Tkachuk spoke Tuesday to the United We Roll convoy, which left Red Deer, Alta. on Feb. 14 and expressed a wide variety of demands, some related to the oil and gas sector. The convoy participants opposed bills that will overhaul environmental assessments of energy projects and ban oil tankers from [Read more]
Razor Energy Corp. Announces 2018 Year-End Reserves and Net Asset Value
CALGARY, Alberta, Feb. 22, 2019 (GLOBE NEWSWIRE) -- Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) is pleased to provide a summary of its 2018 year-end reserves evaluation. The highlights and reserves summary below set forth Razor’s gross reserves as at December 31, 2018, as evaluated by Sproule Associates Limited (“Sproule”) in an independent report dated February 19, 2019 (the “Sproule Report”). The figures in the following tables have been prepared in accordance with the standards [Read more]
Regulator’s report unlikely to settle Trans Mountain pipeline expansion battle
CALGARY - An environmental group that tried to widen the scope of the National Energy Board's reconsideration of the Trans Mountain pipeline expansion says it fully expects the board to endorse the project again in its ruling today. "I think the NEB has a long record of siding with industry over communities and other concerns ... so we have every expectation that they're going to recommend the project go ahead despite the serious problems with it," said Sven Biggs, climate campaigner for [Read more]
Enerplus Announces Fourth Quarter and Full Year 2018 Financial and Operating Results and 2018 Year End Reserves
CALGARY, Feb. 22, 2019 /CNW/ - Enerplus Corporation ("Enerplus" or the "Company") (TSX & NYSE: ERF) today reported fourth quarter 2018 cash flow from operating activities of $221.6 million and fourth quarter 2018 net income of $249.3 million, or $1.03 per share. ANNUAL HIGHLIGHTS: 22% liquids production growth year-over-year 44% increase in adjusted funds flow year-over-year Generated free cash flow of $160 million in 2018 Returned $108 million to shareholders in 2018 [Read more]
AER Notice: Proceeding ID 377, Encana Corporation, 30 kilometres northwest of Grande Prairie
This notice provides a summary only. For more details, see the notice of hearing for this proceeding at www.aer.ca under Regulating Development > Notices > Hearing Notices. A hearing will be scheduled to consider: Application 1911974 filed by Encana Corporation (Encana) for approval for acid gas disposal in the Belloy aquifer about 30 kilometres northwest of Grande Prairie. See map for more details. Information about the hearing: For a copy of the hearing materials, including [Read more]