TORONTO - Canada's main stock market is expected to recover in 2019 from its worst performance in a decade that saw the exchange lose 15 per cent amid extreme volatility, plunging oil prices and geopolitical uncertainty, say markets experts. "Our outlook for 2019 is one of cautious optimism," says Candice Bangsund, portfolio manager for Fiera Capital. She expects equities will outperform bonds as global growth remains relatively healthy with a recession unlikely before late 2020. [Read more]
Headlines
Maxime Bernier challenges Quebec political orthodoxy with new party
MONTREAL - When Maxime Bernier, leader of the nascent People's Party of Canada, recently appeared on a Quebec TV news panel, the pundits laughed at his suggestion that Ottawa could force an oil pipeline through the province. The host barely contained a smirk as he accused Bernier of wanting to shove a pipeline "down the throats" of Quebecers. "At the end of the day," Bernier replied, "the federal government has the right to approve a project or not." No other leader — federal or [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 Dec. 24 Senior Accountant Vertex Sherwood Park Dec. 21 Maintenance Technician - Rotating Equipment AltaGas Gordondale Dec. 21 Plant Operator Roska [Read more]
LNG Canada partner Petronas cuts natural gas output due to plunging prices
CALGARY - Natural gas prices in Western Canada are so low that a partner in the country's first LNG export project is shutting off money-losing wells and throttling back its exploration program. Malaysian-owned Petronas, which has a 25 per cent interest in the $40-billion LNG Canada project, has been curtailing production by between 50 and 200 million cubic feet per day from wells in northeastern B.C. capable of producing 700 million cf/d, the CEO of its Canadian branch says. The practice [Read more]
Blackbird Energy Inc. Announces Record First Quarter 2019 Financial and Operating Results Including Revenue of $7.4 Million and Corporate Production of 1,736 boe/d
CALGARY, Alberta, Dec. 21, 2018 (GLOBE NEWSWIRE) -- (TSX-V: BBI) Blackbird Energy Inc. (“Blackbird” or the “Company”) is pleased to announce its record financial and operational results for the quarter ended October 31, 2018. Blackbird’s unaudited condensed consolidated interim financial statements and related management’s discussion and analysis for the quarter ended October 31, 2018 are available on SEDAR at www.sedar.com and are also posted on Blackbird’s website at [Read more]
Granite Oil Corp. Announces Private Placement Closing
CALGARY, Alberta, Dec. 21, 2018 (GLOBE NEWSWIRE) -- GRANITE OIL CORP. (“Granite” or the “Company”) (TSX: GXO) (OTCQX: GXOCF) announces that it has issued a 3 million common shares (the “Shares”) at a price of $0.52 per Share for aggregate gross proceeds of $1.56 million pursuant to a non-brokered private placement (the “Offering”). An additional closing of the Offering may be completed for combined total proceeds of up to $2 million. People interested in participating in the Offering should [Read more]
Alberta to give temporary break to some producers on oil cuts
Alberta is offering temporary flexibility to some oil producers on mandated production cuts, as the Western Canadian province reviews their claims that curtailment levels are unfairly high for some and pose technical and safety concerns for certain projects.The oil-rich province took the unusual step this month of mandating temporary production cuts amounting to 325,000 barrels per day (bpd), or 8.7 percent, starting in January to deal with a glut in storage and sagging prices. A shortage of [Read more]
Altura Energy Inc. Provides a Corporate Update
CALGARY, Alberta, Dec. 21, 2018 (GLOBE NEWSWIRE) -- Altura Energy Inc. ("Altura", or the "Corporation") (TSXV: ATU) is pleased to announce a corporate update including: fourth quarter 2018 production estimates; an increase to its credit facility; and the closing of a previously announced asset acquisition for cash consideration of $1.0 million. PRODUCTION UPDATE October 2018 production averaged 2,053 Boe per day, exceeding 2018 exit production guidance two months early. November and December [Read more]
Canada Weekly Rig Count Down 25% to 131
Western Canada’s fleet of drilling rigs decreased by 43 rigs, or 25% to a total of 131 according to data collected by Baker Hughes for the week of December 21st. From last Friday, Alberta rig counts went down 20 to 104. Saskatchewan's rig count decreased from 29 to 11. Oil drilling went from 95 to 58; natural gas rigs decreased from 79 to 73. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. drillers add oil rigs for first week in three
U.S. energy firms added oil rigs for the first time in the past three weeks despite sharp declines in crude futures prices to their lowest since the summer of 2017. Drillers added 10 oil rigs in the week to Dec. 21, bringing the total count to 883, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. . This was the biggest weekly gain in rig numbers since early November. More than half the total U.S. oil rigs are in the Permian Basin, the [Read more]