U.S. energy firms this week reduced the number of oil rigs operating for the first time in three weeks as production growth forecasts from shale, the country's largest oil fields, continue to shrink.Drillers cut eight oil rigs in the week to April 18, bringing the total count down to 825, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Thursday. Baker Hughes released the report a day early this week due to the Good Friday holiday.The [Read more]
Headlines
Federal government extends deadline to make Trans Mountain decision to June 18
OTTAWA - The federal government is delaying its decision on the Trans Mountain pipeline expansion project until June 18. Natural Resources Minister Amarjeet Sohi says the extended deadline will give the government more time to complete its consultations with Indigenous groups. The National Energy Board endorsed an expansion of the Trans Mountain pipeline on Feb. 22, starting the clock on a 90-day period for Ottawa to make a final call. That established May 22 as the original [Read more]
Alan Tambosso: Collateral Damage Caused by the Supreme Court of Canada’s Decision to Overturn the Redwater Decision
The release on January 31, 2019 of the long-awaited court decision (the “Appeal Decision”) by the Supreme Court of Canada to the appeal by the Alberta Energy Regulator (the “AER”) of the May 2016 ruling by the Court of Queen’s Bench of Alberta that provincial regulations are in conflict with the federal Bankruptcy and Insolvency Act (the “Redwater Decision”) was publicly lauded by many observers as the correct “social” decision. The public-at-large generally accepts the “polluter pays” thinking [Read more]
You thought Mike Tyson had some knockouts….check these out.
OSY Rentals has knockouts but they are a little different than Mike Tyson's. Check out our flare knockout inventory below. 14.9 PSI- 5 BBL Flare Knockout Drum 5 BBL Knockout 3” 150 ANSI Inlet Connection 3” 150 ANSI Outlet Connection 2” Pump Out Connection 14.9 PSI- 10 BBL Flare Knockout Drum 10 BBL Knockout 4” 150 ANSI Inlet Connection 4” 150 ANSI Outlet Connection Sight Glass 2” Pump Out Connection 14.9 PSI - 25 BBL Flare Knockout Drum [Read more]
CAODC presents a conversation with Terry Etam
BOE report contributor and author Terry Etam will be joining us for lunch on Monday April 29 to discuss his book, of The End of Fossil Fuel Insanity: Clearing the Air Before Cleaning the Air. Terry is a veteran oil and gas consultant whose pithy prose and no-nonsense takes on today’s energy issues have won him numerous fans inside and outside of the industry. His goal is to kick start new energy dialogues in a constructive manner as the world faces, and begins to understand, the real challenges [Read more]
How government tax credits help companies grow through challenging times
SR&ED tax credits are a major competitive advantage for oil and gas companies. SR&ED is Canada's largest industrial innovation program, returning from 15% to 41.5% of eligible costs for activities that advance technology or scientific understanding. These tax credits can help to finance innovation and growth. If your energy company has not previously evaluated SR&ED, you may be overlooking a major cost-saving opportunity. SR&ED is a low-risk program that allows companies to recoup costs, drive [Read more]
Kenney talks pipelines with Trudeau after election win, calls it cordial
EDMONTON - Jason Kenney, Alberta's incoming premier, said he cordially talked pipelines Wednesday with Prime Minister Justin Trudeau — Kenney's political nemesis and his election campaign pinata — and said the plan is to meet soon for a one-on-one. "He called to offer his congratulations. We spoke for about 15 minutes," Kenney said outside Alberta's legislature building. "We had a respectful conversation about a number of issues, including the need to get Canadian energy to [Read more]
Pine Cliff Energy Ltd. Announces Strategic Acquisition, CDE Flow-Through and Common Share Financings and Increased 2019 Capital Spending and Production Guidance
CALGARY, Alberta, April 17, 2019 (GLOBE NEWSWIRE) -- Pine Cliff Energy Ltd. (“Pine Cliff” or the “Company”) (TSX: PNE) is pleased to announce that it has entered into an agreement to acquire oil and natural gas assets (the “Assets”) in the Ghost Pine area of Central Alberta for net cash consideration of $8.6 million, after estimated closing adjustments (the “Acquisition”). The Acquisition will have an effective date of October 1, 2018 and is expected to close on or around May 31, 2019 (the [Read more]
Surge Energy Inc. Announces $30 Million Convertible Debenture Financing
CALGARY, April 17, 2019 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) is pleased to announce that it has entered into a $30 million bought-deal financing (the "Convertible Debenture Financing") of five-year convertible unsecured subordinated debentures (the "Debentures") with a syndicate of underwriters (the "Underwriters") led by National Bank Financial Inc.. The Debentures will have a coupon of 6.75 percent per annum, and a conversion price of $2.25 per Surge common share [Read more]
Kinder Morgan options for Canadian branch delayed due to ‘complexity’
CALGARY - Kinder Morgan Canada Ltd. says it is continuing to evaluate its strategic options and hopes to announce its next steps in coming weeks. The company was spun off from its American parent in mid-2017 to raise money to build the Trans Mountain pipeline expansion but that purpose no longer exists after it sold the existing pipeline and its expansion project to the federal government for $4.5 billion last summer. Chief financial officer Dax Sanders says in a news release the options [Read more]