VICTORIA - British Columbia's demands for a world-leading marine oil spill response has a long list of requirements, including a coast guard base at Prince Rupert and a multimillion-dollar price tag for the federal government. The B.C. and federal governments have been in talks for months to develop a West Coast spill response system, and Prime Minister Justin Trudeau's Liberal government is expected to announce its plans on Monday. Trudeau is in Vancouver Monday where he has scheduled a [Read more]
Headlines
Donald Trump might be Canada’s only hope for a pipeline
Like it or not, Donald Trump is likely Canada’s only hope for a desperately needed major pipeline. In the past several years, weak or incompetent leadership has led to zero major pipelines built in Canada. Weak leadership considering no political leader in Canada had the spine to push through projects that were positive for the country. Instead they crumble to the wishes of radical activists because most politicians are uncomfortable offending that fringe group. Incompetency is evident when [Read more]
A few bright prospects for Western Canadian NGL and Petrochemicals
There has been a lot of movement in Western Canada’s natural gas midstream industry despite challenging market conditions, including bearish natural gas prices, continued competition from US shale production, and a lack of global market reach through LNG/LPG export capabilities. Natural gas midstreamers still see long term opportunity in Western Canada, and it is an opportune time to save on skilled labour costs by proceeding with projects in stronger, but still fragile markets for oil. Two [Read more]
OPEC October Output Surged to New Record of 33.54 Mil. Barrels Per Day: S&P Global Platts
LONDON, Nov. 4, 2016 /PRNewswire/ -- Oil production from the Organization of the Petroleum Exporting Countries (OPEC) rose to another record, at 33.54 million barrels per day (b/d) in October, according to survey of OPEC and oil industry officials by S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets. Recoveries in strife-torn Libya and Nigeria significantly boosted the organization's output and more than offset [Read more]
Energy producers get 129 wells approved under new Alberta royalty framework
CALGARY - Alberta Energy says it has already approved applications for 129 new wells under its new royalty regime for oil and gas producers. The NDP government's framework officially kicks in Jan. 1, but it announced in July that companies would be allowed to make early applications under the regime for new wells. Energy Minister Marg McCuaig-Boyd says each new wells supports about 135 direct and indirect jobs and represents about $4.5 million in spending, adding more [Read more]
The 10 Million Barrels Club of Alberta
Before publishing the article The Most Prolific Oil Well in Alberta, I asked many friends in the industry if they could guess the size (in terms of cumulative oil production) of the largest oil well in Alberta. I heard estimates as low as 3 and as high as 10 million barrels. Many were shocked to hear that 100/09-22-051-27W4 has produced 39.7 million barrels. This brought up another interesting question, how many other wells produced 10 million barrels or more? To date, there are 41 wells that [Read more]
Eagle Energy Inc. Announces Third Quarter 2016 Results
CALGARY, ALBERTA--(Marketwired - Nov. 3, 2016) - (TSX:EGL): Eagle Energy Inc. ("Eagle") is pleased to report its financial and operating results for the third quarter ended September 30, 2016. "Eagle remains on track to post 2016 results at the upper end of our production guidance range, the lower end of our current operating cost guidance range, which was already reduced once in May, and as planned for our capital spend," said Richard Clark, Chief Executive Officer. Mr. Clark added, [Read more]
Lightstream Announces Third Quarter 2016 Results
CALGARY, ALBERTA--(Marketwired - Nov. 3, 2016) - Lightstream Resources Ltd. (the "Company" or "Lightstream") announces third quarter 2016 financial and operating results. Our financial statements and management's discussion and analysis for the quarter ended September 30, 2016 will be available on the system for electronic analysis and retrieval at www.sedar.com and on Lightstream's website at www.lightstreamresources.com. THIRD QUARTER 2016 SUMMARY Third quarter average production was [Read more]
Advantage Oil & Gas Ltd. Announces Third Quarter 2016 Results
44% Production Growth & 27% Reduction in Total Corporate Cash Costs Drives Surplus Cash Flow (TSX: AAV, NYSE: AAV) CALGARY, Nov. 3, 2016 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to report that the Corporation's strategy to maintain a profitable and sustainable growth plan is demonstrated by its third quarter 2016 production per share and cash flow per share increases of 33% and 20%, respectively, while reducing Advantage's total debt by 37% since [Read more]
Inter Pipeline Announces Increase to Monthly Cash Dividend
CALGARY, ALBERTA--(Marketwired - Nov. 3, 2016) - Inter Pipeline Ltd. ("Inter Pipeline") (TSX:IPL) announced today that its board of directors has approved a 3.8 percent increase to its monthly cash dividend from $0.13 to $0.135 per share. On an annualized basis, dividends will increase by $0.06 per share from $1.56 to $1.62. Shareholders of record as of November 22, 2016 will be eligible for Inter Pipeline's new monthly dividend rate of $0.135 per share, with payment expected on or about [Read more]