GRANDE PRAIRIE, Alta. - A rally in support of Alberta's oil industry drew hundreds of supporters who cheered as speakers delivered a message that the rest of Canada needs to be thankful for the prosperity the province provides. "We aren't just a monumental cash cow for the government. We provide opportunities for families across the country," Bernard Hancock, known as Bernard the Roughneck, told the crowd at a park in Grande Prairie, Alta., on Sunday. "It puts chicken in the pot [Read more]
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Quebecers criticize western oil but buy more gasoline, SUVs: report
MONTREAL - Quebec's premier is quick to reject "dirty" oil from Western Canada in favour of hydro power, but new data indicate the province's citizens are buying record amounts of gasoline and increasingly purchasing trucks and bigger homes. Quebecers are widely seen across the country as environmentally conscious, but per capita, they are some of the highest consumers of energy on the planet, according to a report prepared by researchers at Universite de Montreal's business school. [Read more]
Paris on fire and Donald Trump – both orange on top and both brought to you by environmental extremism
Let’s take a step back from the minutiae of the daily grind, and a step above what’s trending. Here in a nutshell is where the world is today. Record low interest rates have led to a debt binge. Industrialized nations are eyeball deep in debt. Some of the borrowing was to claw out of the financial crisis of 2008, but there are other reasons too. One of the other major contributors to this wealthy-country debt load is the push, through subsidies and direct payments, to hasten the ascendancy of [Read more]
Gear Energy Ltd. Provides Operational Update
CALGARY, Dec. 14, 2018 /CNW/ - Gear Energy Ltd. ("Gear") (TSX: GXE) is pleased to provide the following operational update. As previously announced, Gear responded quickly to the dramatic weakening of Canadian oil prices experienced in the fourth quarter of 2018 by temporarily deferring oil production. This activity was intended to maximize realized revenue on developed barrels and was accomplished through a combination of storage, temporary shut-ins and capital reductions. Fortunately, the [Read more]
Canada Weekly Rig Count Down 12 to 174
Western Canada’s fleet of drilling rigs decreased to a total of 186 according to data collected by Baker Hughes for the week of December 14th. From last Friday, Alberta rig counts went down 4 to 124. Saskatchewan's rig count decreased from 32 to 29. Oil drilling went from 102 to 95; natural gas rigs decreased from 84 to 79. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. oil drillers cut rigs for second week in a row
U.S. energy firms cut oil rigs for a second week in a row this week, prolonging a move by drillers over the past month to reduce the number of active rigs after crude prices collapsed in October and November. Drillers cut 4 oil rigs in the week to Dec. 14, bringing the total count down to 873, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. The U.S. rig count, an early indicator of future output, is higher than a year ago when 747 rigs [Read more]
Suncor Energy announces 2019 capital program and production outlook
CALGARY, Alberta, Dec. 14, 2018 (GLOBE NEWSWIRE) -- Suncor released its 2019 corporate guidance today which includes a capital program of between $4.9 and $5.6 billion and average upstream production of 780,000 to 820,000 barrels of oil equivalent per day (boe/d). The midpoints of these ranges represent a flat capital spend compared to 2018 and a year over year production increase of approximately 10%, including estimated mandatory production curtailments, from approximately 730,000 boe/d in [Read more]
PNG Equipment announces launch of new brand ARMOUREE
Earlier this year, Fuelled announced the acquisition of PNG Equipment, a leading energy equipment inventory management and peer to peer sales platform. Fuelled is now pleased to announce the completion of the rebrand and relaunch of this platform. PNG will now be known as ARMOUREE. Among the other changes will be its logo, trade name and domain name (www.armouree.com) PNG Equipment was known to be a robust, yet simple to use inventory management system as well as an effective peer-to-peer [Read more]
Western oil price rally unlikely to last after curtailments begin: expert panel
CALGARY - It's unlikely a dramatic improvement in western Canadian oil prices since Alberta announced forced production curtailments two weeks ago will continue after the cuts begin on Jan. 1, a panel of experts agreed Thursday. The difference between Western Canadian Select bitumen-blend heavy oil and New York-traded West Texas Intermediate oil prices had widened to as much as US$52 a barrel in October before recovering to about US$25.50 on Dec. 3, the day after the announcement by Alberta [Read more]
Birchcliff Energy Ltd. Announces Board Changes
CALGARY, Alberta, Dec. 13, 2018 (GLOBE NEWSWIRE) -- Birchcliff Energy Ltd. (“Birchcliff” or the “Corporation”) (TSX: BIR) is pleased to announce that Ms. Stacey McDonald has been appointed as a director of Birchcliff effective December 14, 2018. Ms. McDonald brings over 13 years of experience in the energy and financial sectors to Birchcliff, including extensive knowledge of capital markets and financial analysis. She was most recently a Managing Director of Institutional Energy Research at GMP [Read more]