When key business decisions need to be made in short time frames amid a backdrop of market volatility, a robust financial model remains one of the top tools in your company’s arsenal to evaluate the consequences of your strategy. Bank of Canada Governor Stephen Poloz has cautioned Canadians to be prepared for economic volatility (although he has stated to national media that he is not expecting a recession in 2019). Recent historic actions by Alberta’s provincial government to raise oil [Read more]
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XI Technologies: Celebrating Canadian E&P Accomplishments in the last year
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. This week we’ve dug into our drilling data to give you our biannual Drilling Top Tens. If you'd like Wednesday Word to the Wise delivered directly to your inbox, subscribe here. Canada’s energy industry is not only the most carefully managed, regulated, and environmentally responsible in the world, it’s also one of the [Read more]
A Crisis for Future Canadian Resource Development: Bill C-69
Global News reported on Friday, February 22 the National Energy Board Canada concluded that the Trans Mountain Expansion Project is in the Canadian public interest and has recommended that the project be approved. This project, which would triple the capacity of the existing pipeline between Edmonton and Burnaby B.C. has been in limbo while the federal government attempts to fulfill the Supreme Court’s requirements. The decision starts the clock on a 90-day deadline for cabinet to decide [Read more]
Toscana Energy Announces 2018 Reserves
CALGARY, Alberta, Feb. 26, 2019 (GLOBE NEWSWIRE) -- Toscana Energy Income Corporation ("TEI" or the "Corporation") (TSX: TEI) announces the Corporation’s 2018 year-end reserves. 2018 Reserves Highlights Increased the weighting of crude oil and NGL reserves to 53% over the reserve base, from 39% in 2017. Proved Developed Producing reserves represent 81% of Proved Reserves. Proved reserves represent 78% of Proved plus Probable Reserves. Net Asset Value (NAV) per share on a Proved [Read more]
New Oil and Gas Jobs From BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Feb. 25 Administration Support Roska DBO Grande Prairie Feb. 25 Pipeline In-Line Inspection Tool Field Supervisor Imperial Oil Edmonton Feb. 25 Pipeline [Read more]
The cost of Decarbonization: how much green to go green?
There is a lot of discussion about “decarbonization” to address the threat of Climate Change. This is the process of weaning the world’s economy away from carbon based energy (coal, oil and natural gas), and replacing it with non-carbon based renewables. This article attempts to cost out the process on a global scale. Normally, we would do a “cost-benefit” analysis, but with this issue benefits are completely subjective. Depending on whether one is a climate change skeptic or believer, [Read more]
Alberta Premier Rachel Notley to speak to Senate committee on energy projects
EDMONTON - Alberta Premier Rachel Notley is to make her case in person to a Senate committee studying proposed legislation that would change how major energy projects are approved. Notley is to appear before the energy, environment and natural resources committee on Thursday. She and her government have already spoken out against Bill C-69, which has passed in the House of Commons and is now before the Senate. The bill proposes a new way of handling environmental [Read more]
Husky Energy reports $216M fourth-quarter profit, down from $672M a year ago
CALGARY - Husky Energy Inc. reported its fourth-quarter profit fell compared with a year ago as it was hit by lower synthetic crude oil prices and other factors. The company says it earned $216 million or 21 cents per share for the quarter ended Dec. 31. That compared with a profit of $672 million or 66 cents per share in the same quarter a year earlier. Production averaged 304,000 barrels of oil equivalent per day, down from 320,000 boe per day a year earlier. [Read more]
Lethbridge Block Light Oil Exploration Opportunity
PrairieSky has over 35 Townships of Fee land over the Lethbridge Block in Southern Alberta prospective for light oil and gas exploration and development. Large, contiguous land positions with extensive seismic coverage are available as the area remains under explored, with over 150 potential unrisked locations identified. A two-page overview highlighting the prospects, landbase and available seismic can be downloaded from PrairieSky’s website at PSK Lethbridge Opportunity. For additional [Read more]
Husky Energy Reports 2018 Fourth Quarter and Annual Results; Updates 2019 Guidance
CALGARY, Alberta, Feb. 26, 2019 (GLOBE NEWSWIRE) -- This news release contains references to the non-GAAP financial measures “funds from operations”, “free cash flow”, “net debt”, “net debt to trailing funds from operations”, “EBITDA”, “operating netback” and “sustaining capital”. Please refer to “Non-GAAP Measures” at the end of this news release. Husky Energy (TSX:HSE) generated funds from operations of $4 billion in 2018, an increase of 21 percent from 2017. Annual net earnings rose 85 [Read more]