OSY Rentals and Rival Hydrovac are headed to the Global Petroleum Show at the Calgary's Stampede Park from June 12th - June 14! Shoot pucks to win and beat the OSY Rentals Rival Hydrovac team of goalies: Cam Schultz Dan Zinger Terry McGeough Rob Gryba Chris Zavlanos Greg Cairns Don Cairns [Read more]
Headlines
Developments in Blockchain, Smart Contracts, Contract Settlement and Transactions in Oil and Gas continue
On Feb. 14, 2018 – GuildOne Inc. announced the first execution of a royalty smart contract using the Company’s new Royalty Ledger application on R3’s Corda blockchain platform at the Blockchain, IoT and Machine Learning in Oil and Gas Conference in Calgary. “Utilizing blockchain technology, Royalty Ledger successfully executed an oil royalty contract settlement and payment transaction. As a Proof of Concept, Royalty Ledger is the first implementation of a smart contract in the oil and gas [Read more]
Enbridge takes steps on pipeline policy after BP complains
WINNIPEG, Manitoba (Reuters) - Canada’s biggest pipeline operator, Enbridge Inc, said on Monday it was taking steps to address complaints from oil shipper BP PLC about abrupt changes it made in allocating space on its Mainline system. The company announced the policy change late last month before reversing it last week, after it caused panic among shippers and dramatically increased a discount on Canadian heavy crude. Enbridge had intended to change how it verifies shippers’ oil supplies [Read more]
Connacher Oil and Gas Limited Announces Extension of CCAA Stay
CALGARY, June 11, 2018 /CNW/ - Connacher Oil and Gas Limited ("Connacher" or the "Company") announced 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 and including September 30, 2018. The Company has been operating under the protection of the CCAA since May 17, 2016. All inquiries regarding Connacher's CCAA proceedings should be [Read more]
Halifax firm suspends ‘Old Harry’ oil exploration in Gulf of St. Lawrence
Halifax-based Corridor Resources Inc. (TSX:CDH) says it has suspended exploratory work on the Old Harry project in the Gulf of St. Lawrence for the foreseeable future. In a news release issued Monday, the company says it has completed a geotechnical analysis and has determined that it wouldn't be "prudent" to continue with additional capital spending, and as a result is suspending all further technical work and expenditures. The Old Harry site is located about 80 kilometres off [Read more]
Two ex-Penn West executives must face U.S. SEC fraud charges
NEW YORK, June 11 (Reuters) - A U.S. judge has ordered two former finance executives at Penn West Petroleum Ltd, now known as Obsidian Energy Ltd, to face regulatory charges that they helped engineer a multi-year accounting fraud to reduce the Canadian company’s operating expenses. In a decision made public on Monday, U.S. District Judge Gregory Woods in Manhattan said the Securities and Exchange Commission’s complaint raised a “strong inference” that Todd Takeyasu and Jeffery Curran intended [Read more]
Bill Gates and Murray Edwards’ new tech could help make western Canada an environmental poster child
Does anyone out there read the British news site The Guardian? It's nothing out of the ordinary, a somewhat anti-business and extremely pro-environmental news site, a not uncommon pairing. It was once known for an unusually large number of typographical errors, earning it the nickname The Grauniad for some time, but apparently that’s been rectified. The site is notable for the voice it gives to extreme environmentalists. Space is given on a monthly basis to the legendary Bill McKibben, [Read more]
Incoming Ontario premier key ally in carbon tax fight: Alberta Opposition leader
Alberta Premier Rachel Notley says Ontario still has a choice to make on climate change legislation despite its incoming premier's promises to do away with carbon pricing. "Do you want a pricing regime that's made in your own province ... or do you want a made-in-Ottawa system?" she asked Friday. Doug Ford's victory in Thursday's Ontario provincial election has raised questions about climate change policy in Canada's largest province. Ford has said getting rid of Ontario's cap-and-trade [Read more]
Canada Weekly Rig Count Up 13 to 112
Western Canada’s fleet of drilling rigs went down up 13 to 112 according to data collected by Baker Hughes for the week of June 8th. From one week ago, Alberta rig counts increased 11 to 68. Saskatchewan's rig count increased from 24 to 27. Oil drilling went from 56 to 69; gas rigs remained at 43. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. drillers add oil rigs for third week in a row
June 8 (Reuters) - U.S. energy companies added oil rigs for a third week in a row even though crude prices have declined about 8 percent over the past three weeks. Drillers added one oil rig in the week to June 8, bringing the total count to 862, the highest level since March 2015, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Friday. That was the ninth time drillers added rigs in the past 10 weeks. The U.S. rig count, an early indicator [Read more]