(Reuters) - Oilfield service giants Schlumberger and General Electric Co’s Baker Hughes missed second quarter revenue forecasts on Friday as slow international growth offset record production in the United States that boosted domestic demand for their services. The Houston-based companies were the first among their peers to report earnings, putting them under scrutiny from analysts seeking clues about the health of the industry. Schlumberger, the world’s largest oilfield services firm, is [Read more]
Headlines
Protesters digging in at anti-pipeline camp as eviction notice expires
BURNABY, B.C. - Protesters at an anti-pipeline camp in Burnaby, B.C., say they are ready to defy an eviction notice handed out from the city. The City of Burnaby issued a 72-hour notice to those occupying "Camp Cloud" on Wednesday, but protesters say in a news release that isn't enough time to comply with concerns raised over safety. The release says Camp Cloud will not be evicted, and that the notice was wrongly issued without adequate consideration of a recent court decision or [Read more]
Baytex and Raging River File Joint Management Information Circular Seeking Shareholder Approval of Strategic Combination
CALGARY, Alberta, July 20, 2018 (GLOBE NEWSWIRE) -- Baytex Energy Corp. (TSX:BTE) (NYSE:BTE) ("Baytex") and Raging River Exploration Inc. (TSX:RRX) ("Raging River") are pleased to announce that they have filed a joint management information circular and proxy statement (the "Circular") for their respective special shareholders' meetings to be held in connection with the proposed strategic combination of Baytex and Raging River pursuant to a statutory plan of arrangement under the Business [Read more]
U.S. drillers cut rigs by most since March this week
July 20 (Reuters) - U.S. energy companies this week cut oil rigs by the most since March as the rate of growth has slowed over the past month or so with recent declines in crude prices. U.S. crude prices are on track to fall for a third week in a row this week as escalating U.S.-China trade tensions threatened to hurt oil demand. Drillers cut 5 oil rigs in the week to July 20, bringing the total count down to 858, General Electric Co’s Baker Hughes energy services firm said in its closely [Read more]
Enbridge and City of Toronto to build one of the first renewable natural gas facilities in Ontario
TORONTO, July 20, 2018 /CNW/ - Enbridge Executive Vice President Cynthia Hansen congratulates Mayor John Tory on the joint project to construct the City's first renewable natural gas facility, located at the Dufferin Organics Processing Facility. Together, Enbridge Gas Distribution and the City of Toronto will build and install equipment that will turn the City's organic waste (apple cores, egg shells, coffee grounds, etc.) into clean energy. Almost 50 per cent of household waste (by [Read more]
Oil prices contend with strengthening U.S. dollar: Kemp
LONDON, July 20 (Reuters) - The rising value of the U.S. dollar against most other major currencies is creating an additional headwind for oil prices, as it pushes up the local price of crude and fuels across much of Asia, Europe and Latin America. In trade-weighted terms, the dollar has risen to its highest since late 2016 and early 2017, and before that 2002/2003. Adjusted for inflation, the dollar’s trade-weighted value is close to its highest since 2004, according to the broad exchange [Read more]
Eagle Energy Inc. Announces Sale of Twining Assets
CALGARY, July 20, 2018 /CNW/ - (TSX: EGL): Further to Eagle Energy Inc.'s ("Eagle") previously announced strategy of reducing debt and interest charges, Eagle is pleased to announce it has signed an agreement to sell its entire interest in its oil and natural gas properties near Twining, Alberta to a third party for cash consideration of $13,820,000 before customary post-closing adjustments (the "Sale"). The Sale is expected to close on or about August 28, 2018, subject to customary closing [Read more]
Blackbird Energy Inc. Provides Operational Update
CALGARY, Alberta, July 20, 2018 (GLOBE NEWSWIRE) -- (TSX-V:BBI) Blackbird Energy Inc. (“Blackbird” or the “Company”) is pleased to provide an operational update including planned drilling activity, an update on infrastructure build out and the continued progression of its development planning. Development program north of the Wapiti River expected to commence in early August: Blackbird has completed the construction of its 9-14 pad-site and expects to spud its first well from this [Read more]
Canadian Natural Resources Limited Announces 1 Billion Barrel Production Milestone at the Athabasca Oil Sands Project
CALGARY, Alberta, July 19, 2018 (GLOBE NEWSWIRE) -- Canadian Natural Resources Limited (“Canadian Natural”), as operator of the Jackpine and Muskeg River mines at the Athabasca Oil Sands Project (“AOSP”), is pleased to announce that the AOSP has achieved a mined production milestone of 1 billion barrels since operations began in 2003. Canadian Natural's President Tim McKay stated, “This is a significant milestone and demonstrates the size and scale of Canada's oil sands mining operations. The [Read more]
City of Burnaby issues eviction notice to protesters at Kinder Morgan terminal
BURNABY, B.C. - The City of Burnaby is evicting protesters from a make-shift camp set up outside one of Kinder Morgan's terminals, citing fire safety and public health concerns. City manager Lambert Chu says the city is worried about how the footprint of the site, dubbed Camp Cloud, has grown to include a two-level wood structure, additional tents and even shower facilities. "We've been trying to work with the camp occupants and seek compliance with no success and that's why we had to take [Read more]