Strategic partnership between Williams and CPPIB to support ongoing growth and Northeast region optimization Williams consolidates 100% interest in Utica East Ohio Midstream (“UEO”) and assumes operatorship Williams expects to receive approximately $1.34 billion in exchange for a 35% interest in a combined UEO-Ohio Valley Midstream (“OVM”) joint venture, providing Williams with a net of approximately $600 million, after transaction fees and paying for the UEO interest, allowing for debt [Read more]
Headlines
Robson: Panic is a bad response to an alleged climate crisis
One important reason I recently launched the Climate Discussion Nexus as a forum for fact-based discussion of climate science and policy is that when you raise questions about “global warming” a number of things happen that don’t remind you of reasonable debate. Like people hollering that the crisis is too urgent to waste time thinking. For decades we’ve been told we have only 10 years to save the planet. Once it’s too late, we will see such horrors that to wait for evidence would be madness. [Read more]
Freehold Royalties Ltd. Announces Changes to Executive Team
CALGARY, Alberta, March 18, 2019 (GLOBE NEWSWIRE) -- Freehold Royalties Ltd. (TSX: FRU) (“Freehold” or the “Company”) announces changes to its executive management team effective today, including the resignation of Darren Gunderson, Vice-President, Finance and Chief Financial Officer and the appointment of Alan Withey as Interim Vice-President, Finance and Chief Financial Officer. Mr. Gunderson has served in a variety of roles with Freehold since its inception in 1996 including Controller and [Read more]
B.C. Court of Appeal will begin hearing oil-transport reference case today
VANCOUVER - British Columbia's Court of Appeal will consider the question of provincial powers over the future of the Trans Mountain pipeline expansion project during a five-day hearing that starts today. The B.C. government's reference case asks the court if the province has jurisdiction to regulate the transport of oil through its territory and restrict bitumen shipments from Alberta. Alberta Premier Rachel Notley and Prime Minister Justin Trudeau say only Ottawa — not the provinces — [Read more]
Canadian oil companies continue to cut 2019 capital expenditures
Canada's oil producers lowered their capital expenditures for 2019 due to volatility in crude prices and mandatory production cuts in the province of Alberta. Imperial Oil Ltd said on Friday it would delay its C$2.6 billion ($1.95 billion) Aspen oil sands project in Alberta by about a year after the provincial government imposed output cuts to tackle pipeline bottlenecks. "As part of its 2019 capital budget, the company had earmarked C$800 million in Aspen related spending, which will [Read more]
Canadian oil firms lament output cuts as rail volumes slip
Some Canadian oil executives blame higher crude prices from mandated production curbs for hurting their refining margins and depressing shipments of Alberta crude to U.S. customers. The government of Alberta last year mandated output cuts of 325,000 barrels per day (bpd) to help alleviate a supply glut that had weighed on crude prices and earnings of Canadian producers. Many in the industry had praised the move as prices rose. But other Canadian companies including Husky Energy Inc and [Read more]
Toscana Energy Announces Fourth Quarter 2018 Results
CALGARY, Alberta, March 15, 2019 (GLOBE NEWSWIRE) -- Toscana Energy Income Corporation ("Toscana" or the "Corporation") (TSX: TEI) announces financial and operating results for the fourth quarter ended December 31, 2018. Financial and operating results: This news release summarizes information contained in the Audited Consolidated Financial Statements and Management’s Discussion and Analysis (“MD&A”) for the three months and year ended December 31, 2018. This news release should not be [Read more]
Connacher Oil and Gas Limited Announces Extension of CCAA Stay
CALGARY, March 15, 2019 /CNW/ - Connacher Oil and Gas Limited ("Connacher" or the "Company") announces that it has obtained an order from the Alberta Court of Queen's Bench extending the period of the Court-ordered stay of proceedings against Connacher under the Companies' Creditors Arrangement Act ("CCAA") until June 28, 2019. The Company has been operating under the protection of the CCAA since May 17, 2016. All inquiries regarding Connacher's CCAA proceedings should be directed to the [Read more]
Getting more oil to market in Canada requires more pipelines, NEB says
OTTAWA - The National Energy Board says Canada's existing export pipelines are running at maximum efficiency and the only way to realistically get more oil to market on pipelines is to build more of them. The board is responding today to questions posed last fall by Natural Resources Minister Amarjeet Sohi, who wanted to know if there was any way to improve the efficiency of pipelines while Canada struggles to expand or get new ones built. Put simply, the board says, the amount [Read more]
U.S. oil rig count falls to lowest since April 2018 -Baker Hughes
U.S. energy firms this week reduced the number of oil rigs operating for a fourth week in a row with drilling slowing to its lowest in nearly a year, prompting the government to cut crude output growth forecasts. Drillers cut one oil rig in the week to March 15, bringing the total count down to 833, the lowest since April 2018, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. That is the first time the rig count has declined for four [Read more]