The uncertainty in the energy sector has oil and gas companies engaged in joint venture projects on edge. Oil and gas producers are under tremendous economic stress. What kind of strategies can companies adopt to mitigate risk arising of possible joint operator or partner insolvency? Join the Petroleum Joint Venture Association for a discussion of ways to protect your company before, during and after the proceedings and how to effectively harvest opportunities from insolvency situations [Read more]
Headlines
Pipeline Integrity: An Ounce of Innovation is Worth a Pound of Detection
The perception of many outside the industry is that what is being done to prevent pipeline leaks from occurring is not good enough. A few unfortunate high-profile incidents and the resulting media coverage have drawn negative attention and scrutiny which is taken out of context against the good work and progress being made by the industry as a whole. The reality is companies recognize the importance of having a solid integrity program, and are doing the best they can to mitigate risk using [Read more]
Ikkuma Resources Corp. Announces Closing of the Previously Announced Infrastructure Disposition
CALGARY, Oct. 23, 2017 /CNW/ - Ikkuma Resources Corp. (TSXV: IKM) ("Ikkuma") is pleased to announce the closing of the previously announced disposition of 51% of its trunk-line and associated facilities ("Infrastructure Disposition") for cash consideration of $20,000,000. The Infrastructure Disposition has an effective date of September 1, 2017. As previously announced, it is expected that the proceeds of the Infrastructure Disposition will be used to purchase certain assets located in the [Read more]
Contractor killed at Suncor Energy mining site north of Fort McMurray
FORT MCMURRAY, Alta. - A contract worker died Friday at Suncor Energy's Millennium oilsands mine north of Fort McMurray. Alberta labour spokesman Trent Bancarz said the man in his 30s was digging a trench when he was buried. His name was not released The man was employed by Aecon (TSX:ARE) Mining, which said it was deeply saddened and had put its work at the oilsands mine on hold. Suncor (TSX:SU) spokeswoman Sneh Setal said the worker died at the site. She [Read more]
U.S. oil drillers cut rigs for a third week in a row -Baker Hughes
The U.S. oil rig count fell for a third week in a row, extending a two-month drilling decline, although producers have sharply ramped up bets against a fall in oil prices, which could spur another investment surge. The oil rig count fell seven to 736 in the week to Oct. 20, the lowest level since June, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. The rig count, an early indicator of future output, is still much higher than a year [Read more]
Canada Weekly Rig Count Down 10 to 202
Western Canada’s fleet of drilling rigs declined by 10 to the current 202 actively drilling rigs according to data collected by Baker Hughes for the week of October 20th. From one week ago, Alberta rig counts decreased from 144 to 141, the Saskatchewan rig count decreased by 10 from 40 to 30. Oil drilling declined by 5 to 107; gas rigs went down 5 from 100 to 95. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. natural gas prices under pressure even as stocks tighten
LONDON, Oct 20 (Reuters) - U.S. natural gas stocks continue to tighten, but most traders appear unconcerned, with futures prices for gas delivered this winter close to the lowest levels since the start of the year. Working gas stocks in underground storage were 35 billion cubic feet (bcf) below the five-year average at 3,646 bcf on Oct. 13, according to data from the U.S. Energy Information Administration. Working stocks have tightened significantly since the middle of March, when they stood [Read more]
Blackbird Energy Inc. Announces the Appointment of Karen Minton as Chief Financial Officer
CALGARY, Alberta, Oct. 19, 2017 (GLOBE NEWSWIRE) -- (TSX-V:BBI) Blackbird Energy Inc. (“Blackbird” or the “Company”) is pleased to announce the appointment of Karen Minton as Chief Financial Officer of the Company, effective immediately. “I am delighted to have Karen join the Blackbird team and look forward to working with her. Karen joins us at an exciting time for our Company, and I am grateful we were able add someone of her character, experience and intelligence to oversee critical steps in [Read more]
Perpetual Energy Inc. Announces Appointment of Director
(TSX:PMT) - CALGARY, Oct. 19, 2017 /PRNewswire/ - Perpetual Energy Inc. ("Perpetual") is pleased to announce the appointment of Mr. Ryan Shay to the Board of Directors. Mr. Shay brings over 20 years of experience in the oil and gas industry, retiring in June 2016 from his position as Managing Director, Head of Investment Banking for Cormark Securities. Prior to transitioning to investment banking, Mr. Shay was Cormark's Senior Energy Research Analyst for eight years. Mr. Shay's extensive [Read more]
Thailand’s PTTEP delays Canadian oil sands project at cost of $550 mln
PTT Exploration and Production Pcl (PTTEP) , the upstream arm of Thailand's energy giant PTT Group , said on Thursday that it was delaying plans investment for the Mariana Oil Sands in Canada. PTTEP, which owns 100 percent of the Mariana Oil Sands, is delaying the project's final investment decision, which will result in an impairment cost of $550 million, the company said. The cost will be reflected in its third-quarter earnings. The delay is the latest project to be postponed in Canada's [Read more]