CALGARY - A CIBC research report predicts that new technologies will greatly reduce the cost and environmental impact of building new oilsands projects over the next five years. Oilsands analyst Arthur Grayfer says in the report that newly constructed projects producing bitumen through wells will likely be profitable at today's benchmark oil prices of about US$50 per barrel. That's $15 less than projects using current technology. He says construction costs are falling thanks to [Read more]
Headlines
Company Behind Dakota Pipeline Wants Judge To Block Obama’s Delay
The company behind a contested oil pipeline in North Dakota wants a federal judge to block the Obama administration’s attempts to thwart the multi-billion dollar Dakota Access Pipeline. Energy Transfer Partners (ETP) requested U.S. District Judge James Boasberg prevent the Army Corps of Engineers from publishing its intent to conduct an environment impact study on the project. Any future studies on the controversial pipeline, the company said, should be scuttled until Boasberg rules on whether [Read more]
B.C.-Kinder Morgan revenue sharing deal tears Canada’s national fabric: expert
VICTORIA - A revenue-sharing agreement that helped convince British Columbia to support the $6.8 billion Trans Mountain oil pipeline expansion threatens to tear the fabric of country, says a resource policy expert. The agreement with Kinder Morgan gives the province as much as $1 billion over 20 years. The financial benefit for the province was the last of five conditions needed for Premier Christy Clark established to approve the expansion of the pipeline through B.C. During [Read more]
Financial impact of Fort McMurray wildfire reaches $9.5 billion: study
EDMONTON - An assessment of the total financial impact of last spring's Fort McMurray wildfire is pegging the direct and indirect costs of the blaze at almost $8.9 billion. The figure includes the expense of replacing buildings and infrastructure as well as lost income, profits and royalties in the oilsands and forestry industries, said MacEwan University economist Rafat Alam. It also includes early estimates on indirect costs such as environmental damage, lost timber and [Read more]
Pembina Pipeline Corporation Announces $600 Million Public Note Offering
CALGARY, Jan. 17, 2017 /CNW/ - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL, NYSE: PBA) announced today that it has agreed to issue $600 million of senior unsecured medium-term notes (the "Offering"). The Offering will be conducted in two tranches consisting of $300 million in senior unsecured medium-term notes, series 8 (the "Series 8 Notes") having a fixed coupon of 2.99% per annum, paid semi-annually, and maturing on January 22, 2024, and $300 million in senior [Read more]
GPS Awards Win a Big Boon
The Global Petroleum Show Awards help gain global recognition and authority, says a 2016 award winner. “Global Petroleum Show is a respected brand, it’s a nice testimony to what our technology brings,” says Joe Kuhach, CEO of Nsolv, the company that won the coveted Innovation in Technologies Award in 2016. GPS Awards recognize and celebrate leaders who drive change and evolution in the energy industry. Past winners of the prestigious awards include Titanium Corporation, Boon Energy and [Read more]
ExxonMobil to Acquire Companies Doubling Permian Basin Resource to 6 Billion Barrels
Companies’ assets include 250,000 acres in highly prolific Permian Basin Adds more than 3.4 billion barrels of oil equivalent, of which 75 percent is liquids Upfront acquisition cost of $5.6 billion to be paid in ExxonMobil shares IRVING, Texas--(BUSINESS WIRE)--Exxon Mobil Corporation (NYSE:XOM) said today it will more than double its Permian Basin resource to 6 billion barrels of oil equivalent through the acquisition of companies owned by the Bass family of Fort Worth, Texas, with an [Read more]
Sproule Launches New Type Curve Analysis Database and Report
From evaluating acquisition and divesture opportunities to development planning, every day, critical business decisions are made using type curves analysis. Sproule’s new up-to-date and accurate Type Curve Analysis database and report dramatically shortens time spent on screening opportunities, evaluating producing wells and benchmarking—helping you stay ahead of your competition and increase efficiency. This comprehensive and rigorous production profile dataset is available for 14 key [Read more]
Trilogy Energy Corp. Provides Update on Q4 2016 Operations, 2017 Hedging Program and 2017 Guidance
CALGARY, ALBERTA--(Marketwired - Jan. 17, 2017) - Trilogy Energy Corp. ("Trilogy" or the "Company") (TSX:TET) is pleased to provide an update on its fourth quarter 2016 Montney and Duvernay operations, report on its current hedging program and provide annual guidance for 2017. Highlights Trilogy's 2016 annual production averaged approximately 21,800 Boe/d, with an exit rate in December 2016 of approximately 23,800 Boe/d Trilogy is estimating net capital expenditures of approximately [Read more]
Sunshine Oilsands Ltd.: Placing of Up to 60,000,000 New Shares Under General Mandate
HONG KONG, CHINA and CALGARY, ALBERTA--(Marketwired - Jan. 17, 2017) - The Board of Directors (the "Board") of Sunshine Oilsands Ltd. (the "Corporation" or "Sunshine") (HKSE:2012) is pleased to announce the following: PLACING OF NEW SHARES UNDER GENERAL MANDATE (a) The Placing On January 17, 2017 in Hong Kong (January 16, 2017 in Calgary), the Corporation entered into a placing agreement (the "Placing Agreement") with China Industrial Securities International Capital Limited (the [Read more]