Canada's energy heartland is showing a spark of optimism at the Calgary Stampede, an annual rodeo and corporate networking destination, with party sizes and event attendance on the rise as oil prices claw up from the 13-year lows of 2016.Oil and gas producers, who laid off thousands of workers and slashed millions in capital expenditures after prices began their sharp descent in 2014, are slowly increasing their spending at the 10-day festival that runs to July 15.In a sign the sector is [Read more]
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Alberta likely to take equity stake in Trans Mountain pipeline: premier
CALGARY - Alberta Premier Rachel Notley says the province is likely to end up owning a piece of the Trans Mountain pipeline. Ottawa agreed to buy the Alberta-to-British-Columbia crude conduit this spring for $4.5 billion from U.S. company Kinder Morgan. Kinder Morgan had threatened to walk away from a planned $7.4-billion expansion to the line because of resistance from the B.C. government. Notley announced in May that her government would make up to $2 billion available, if necessary, [Read more]
Suncor says Syncrude to ramp up to full production in early to mid-September
CALGARY - Suncor Energy Inc. says production at the Syncrude oilsands complex is expected to ramp up to full production in early to mid-September after a power disruption in June that shut down operations. The company, which holds a 58.7 per cent stake in the partnership, says a preliminary investigation indicates the disruption was caused by a transformer malfunction the cut power on June 20. It says power and steam systems have been restored and the assessment and repair for the [Read more]
Pulse Oil Corp. Announces 3D Seismic Acquisition for Pulse’s Queenstown Assets
CALGARY, July 9, 2018 /CNW/ - Pulse Oil Corp. ("Pulse" or the "Company") (TSX-V: PUL and PUL.WT) announced today that Pulse has purchased a 50-year seismic data license for a Queenstown specific 3D seismic data set ( the "Milo 3D") covering 15,360 acres (62 sq km's) encompassing the core of Pulse's Queenstown assets targeting light sweet oil. As with the acquisition recently of the Bigoray 3D seismic data set, this most recent acquisition is critical for Pulse's Queenstown drilling program [Read more]
Property Divestiture: Convega Energy Ltd.
Convega Energy Ltd. has retained Western Divestments Inc. to divest a 100% operated working interest in its Cessford, property located approximately 200 km from Calgary and 57 km from Brooks, in southern Alberta in T25-R11 W4M. The property consists of 1280 acres of land with P&NG from surface to base Mannville excl. NG in the Colorado and is developed with 4 oil wells producing from the Mannville S13S pool and 1 injection well, 1 gas well producing from the Mannville C (Glauconite) pool [Read more]
Suncor provides update on Syncrude recovery plan
CALGARY, Alberta, July 09, 2018 (GLOBE NEWSWIRE) -- Suncor today provided an update on the Syncrude Oil Sands facility following the site wide power disruption on June 20. Preliminary investigation results indicate that the cause of the disruption was a transformer trip in Syncrude’s power house resulting in a rapid site wide loss of power and steam generation. As a result, all process units were brought down. There were no injuries or safety incidents as a result of this outage. Syncrude [Read more]
Baker Hughes, a GE company Announces June 2018 Rig Counts
HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for June 2018 was 959, down 8 from the 967 counted in May 2018, and down 1 from the 960 counted in June 2017. The international offshore rig count for June 2018 was 195, down 3 from the 198 counted in May 2018, and down 2 from the 197 counted in June 2017. The average U.S. rig count for June 2018 was 1,056, up 10 from the 1,046 counted in May 2018, [Read more]
AltaGas Ltd. Announces Closing of its Acquisition of WGL Holdings, Inc.
Transformational Acquisition Enhances AltaGas' Position as a Leading North American Clean Energy Infrastructure Company with Strong Growth Opportunities in Midstream, Power and Utilities CALGARY, July 6, 2018 /CNW/ - AltaGas Ltd. (AltaGas) (TSX: ALA) announced today the closing of its approximately $9 billion acquisition of WGL Holdings, Inc. (WGL), creating a North American leader in the clean energy economy. The combination of AltaGas and WGL supports AltaGas' long-term vision and [Read more]
Momentum builds for LNG Canada as pipeline workcamp contract awarded
CALGARY - Analysts say the awarding of a workforce accommodation contract to Houston-based Civeo Corp. is another sign that the $40-billion LNG Canada project is headed for a positive final investment decision later this year. Civeo says it has been awarded contracts to supply temporary work camps at four locations along the Coastal GasLink pipeline from Dawson Creek, B.C., to the west coast of B.C., on the condition that the liquefied natural gas export terminal is built. The [Read more]
U.S. drillers add oil rigs for first week in three
U.S. energy companies this week added oil rigs for the first time in three weeks but the rate of growth has slowed over the past month or so with a decline in crude prices from late May through late June. U.S. crude prices , however, jumped to their highest since November 2014 earlier this week. Drillers added five oil rigs in the week to July 6, bringing the total count to 863, General Electric Co's BakerHughes energy services firm said in its closely followed report on Friday. The [Read more]