CALGARY, March 27, 2019 /CNW/ - (TSX:PMT) – Perpetual Energy Inc. ("Perpetual", the "Corporation" or the "Company") is pleased to release its fourth quarter and year-end 2018 financial and operating results and announce the confirmation of the borrowing limit on its bank credit facility at $55 million and the extension of the maturity date to November 30, 2020. A complete copy of Perpetual's audited consolidated financial statements, Management's Discussion and Analysis ("MD&A") and Annual [Read more]
Headlines
Gary Mar: Why Ministerial Discretion Does Not Belong in Bill C-69
On March 22, 2019, my Board Chairman and I represented the Petroleum Services Association of Canada (PSAC) before the Standing Senate Committee on Energy, the Environment and Natural Resources. We were testifying on behalf of PSAC Member companies, offering their views and perspectives on Bill C-69, which would enact the Impact Assessment Act and the Canadian Energy Regulator Act, as well as amend the Navigation Protection Act and a number of other acts. In short, Bill C-69 is the federal [Read more]
Alberta Liberal leader would give municipalities veto over oil and gas drilling
EDMONTON - Alberta Liberal Leader David Khan says he would give municipalities a veto over oil and gas drilling within their boundaries if his party were to win the April 16 election. He says that would allow local governments to plan for safe and sustainable growth and development. Khan also says he would provide municipalities greater autonomy by amending the Municipal Government Act to formally recognize them as "a new order of government." New revenue-generating [Read more]
Alberta NDP’s Notley promises $1.4B to expand network of roads for heavy loads
FORT MCMURRAY, Alta. - NDP Leader Rachel Notley is promising to spend $1.4 billion to expand Alberta's network of roads that handle large and oversized loads. Notley says the current 6,500-kilometre network is recognized as one of the best in North America, but more needs to be done. She says a re-elected NDP government would work to increase the network to cover 10,000 kilometres over the next six years. Notley says loads such as oil and gas equipment and prefabricated [Read more]
Minnesota regulator confirms approval of Enbridge oil pipeline
A Minnesota regulator has confirmed its approval of Enbridge Inc's Line 3 crude oil pipeline replacement, allowing the $7 billion project that will ship more barrels out of western Canada to move forward, the company said on Wednesday. The Minnesota Public Utilities Commission initially approved Enbridge's plan to rebuild the aging 1,031-mile (1,660-km) pipeline that runs from Alberta to the U.S. state of Wisconsin in June, but that decision was challenged by Minnesota's governor in [Read more]
Canada trade deficit second highest on record due to cheap crude
Canada's trade deficit shrank slightly to $4.25 billion in January, the second highest on record, as low crude prices continued to eat into the value of exports, Statistics Canada said on Wednesday.Analysts in a Reuters poll had forecast a shortfall of C$3.50 billion. Statscan revised December's deficit to C$4.82 billion from an initial C$4.59 billion.Exports grew 2.9 percent to $47.58 billion - the first increase since July 2018 - as the value of oil shipments jumped by 36.5 percent [Read more]
Chevron Canada VP of Health, Environment, Safety & Regulatory, reveals how Chevron is developing into a better learning organization and leveraging new technologies to enhance field operations and worker safety – at the 2019 OpEx Calgary Summit
Troy Geertsen, Vice President of Health, Environment, Safety & Regulatory at Chevron Canada will be speaking at the upcoming Operational Excellence in Energy, Chemicals & Resources Summit (Calgary, June 4-6) on how the energy giant maintains a sense of vulnerability while focusing on high risk, and the initiatives they are using to drive Operational Excellence to the frontline. Download a copy of the agenda to find out more about Troy’s session. Troy will be joined by over 250 [Read more]
Environmental crotch-kicking is the latest thing, and it will not end where we think it will
“There’s no more complex, messy, community-wide argument…political discourse is now a formulaic matter of preaching to one’s own choir and demonizing the opposition. Since the truth is way, way more gray and complicated than any one ideology can capture, the whole thing seems to me not just stupid but stupefying…how can any of this possibly help me, the average citizen, how even to conceive for myself what the policy’s outlines should be? ...it’s childish, and totally unconducive to hard [Read more]
XI Technologies: Using technology to streamline energy liability management
Each week, XI Technologies scans their unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you'd like to receive our Wednesday Word to the Wise in your inbox, subscribe here. Environmental liability management is one of the most challenging issues facing our industry right now – second only to increased access to tidewater and international markets. We remain optimistic that common sense will prevail, [Read more]
U.S. oil projects begin to falter as producers curb spending
The number of pipeline and storage terminal projects proposed to move shale to the U.S. Gulf Coast has dwindled amid steps by oil producers to pare exploration spending.Last year, booming West Texas production overwhelmed existing pipelines out of the region, sinking local prices and helping launch nine projects proposing to add 5.4 million barrels per day (bpd) through the first half of 2021. On Monday, Magellan Midstream Partners LP cut its capital spending outlook by $450 million over two [Read more]