OTTAWA - The national chief of the Assembly of First Nations says the federal government would find it easier to get the Trans Mountain pipeline built if it moves the route and the marine shipping terminal to avoid Indigenous communities that are oppose the project. Perry Bellegarde said many Indigenous communities believe in the need to diversify export markets for Canadian resources through work to transition to a clean energy economy. However, he acknowledged there are some communities [Read more]
Headlines
Oil market hears echoes of 2007/8
LONDON (Reuters) - Eleven years ago, on Monday Sept. 24, 2007, the price of Brent crude closed just below $79 per barrel, not far from where it is today. Three days later, Brent closed above $80 for the first time in history. Less than 10 months after that, prices closed at an all-time high of $146. Past prices are not necessarily a guide to the future, but the events of 2007/08 are a reminder that price moves are highly non-linear, especially around turning points in the cycle. Price [Read more]
TransCanada to start Keystone XL construction in 2019
LINCOLN, Neb. - The developer of the Keystone XL oil pipeline plans to start construction next year, after a U.S. State Department review ordered by a federal judge concluded that major environmental damage from a leak is unlikely and could quickly be mitigated, a company spokesman said Monday. TransCanada spokesman Matthew John said the company remains committed to moving ahead with the project following years of reviews from federal and state regulators. The company has already started [Read more]
Point Loma Resources Announces Entrance into Leduc Area Rex Oil Play and Provides Drilling and Operational Update
Calgary, Alberta (FSCwire) - Point Loma Resources Ltd. (TSX VENTURE: PLX) (the “Corporation” or “Point Loma”) announces the acquisition of lands providing entrance into the Rex (Upper Mannville) oil play in the Leduc area of Alberta and provides an operational update across its core focus areas. With the addition of these properties and a large land position in excess of 160,000 net acres (over 250 net sections) targeting the Mannville (Upper and Lower), Banff and Duvernay oil opportunities and [Read more]
Pembina Pipeline Corporation Announces New Montney Infrastructure and Increases 2018 Guidance
CALGARY, Sept. 24, 2018 /CNW/ - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) is pleased to announce an increase to its 2018 Adjusted EBITDA guidance range to $2.75 to $2.85 billion. The Company is also pleased to announce that in conjunction with incremental volume commitments from customers on the Peace pipeline, Pembina will be developing additional pipeline and terminalling infrastructure in the Wapiti region near Grande Prairie, Alberta and in northeast [Read more]
PNG Exchange New Properties
Mannville Royalty – Gold Creek & Manir, Provost Sparky Elcano Exploration – E Manson to St Lazare, South Manson, Tatagwa Harvest Operations Corp. – Simonette/Karr, Thornbury, Saleski, Mastin Lake, Marten Hills, Harper, Chicken/Route, Netook, Gambler Canlin Energy – SK Fee Title bids due Nov 2, 2018 Long Run Exploration – Redwater Minors Divestiture Nine Ring – Edson, Shadow, Red Earth, Worsley Long Fortune Petroleum – Corporate Sale Revive Freehold – SK & AB lands [Read more]
The downward spiral – a stoned Canada quits its job to sit on a park bench and feed the birds
“Have you been making your mortgage payments?” “Relax dude, have you tried this stuff? It’s the bomb.” “I asked you a question.” “Yeah yeah, I made some payments.” “How?” “The money was still flowing in, so it was, like, easy.” “What about next month’s bills?” “Dude, relax, something will come up. We got all sorts of resources.” “Why did you quit your job?” “Man, that job was bogus. It was working for the man and it was killing the environment. I’m doing good now, [Read more]
Keystone XL pipeline route would not harm environment – U.S. State Dept
The U.S. State Department on Friday issued an environmental assessment of a revised route for the Keystone XL crude pipeline that concluded it would not harm water or wildlife, clearing a hurdle for the project that has been pending for a decade. Even if the pipeline spilled crude oil along its revised route through Nebraska, a top concern of environmentalists, there would likely be no impact to groundwater, the nearly 340-page draft review said. "Prompt cleanup response would likely be [Read more]
U.S. oil drillers cut rigs for second week in three -Baker Hughes
U.S. energy companies cut oil rigs for a second week in three as new drilling has stalled in the nation's largest oil field, where production was forecast to grow at the slowest pace in nearly two years due to pipeline constraints. Drillers cut one oil rig in the week to Sept. 21, bringing the total count down to 866, 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 still much [Read more]
Canada Weekly Rig Count Down 29 to 197
Western Canada’s fleet of drilling rigs decreased to a total of 197 according to data collected by Baker Hughes for the week of September 21st. From one week ago, Alberta rig counts decreased from 156 to 126. Saskatchewan's rig count increased from 48 to 50. Oil drilling went from 148 to 135; natural gas rigs decreased from 78 to 62. View a full breakdown of western Canada’s rig activity. [Read more]