U.S. energy companies cut oil rigs for a second consecutive week as new drilling stalled in the third quarter with the fewest additions in a quarter since 2017 due to pipeline constraints in the nation's largest oil field. Drillers cut three oil rigs in the week to Sept. 28, bringing the total count down to 863, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. For the third quarter, the increase of five oil rigs was the smallest since [Read more]
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Canada Weekly Rig Count Down 19 to 178
Western Canada’s fleet of drilling rigs decreased to a total of 178 according to data collected by Baker Hughes for the week of September 28th. From one week ago, Alberta rig counts decreased from 126 to 110. Saskatchewan's rig count decreased from 50 to 48. Oil drilling went from 135 to 122; natural gas rigs decreased from 62 to 56. View a full breakdown of western Canada’s rig activity. [Read more]
Canadian Spirit Resources Inc. Announces Management Change
CALGARY, Alberta, Sept. 27, 2018 (GLOBE NEWSWIRE) -- Canadian Spirit Resources Inc. (“CSRI” or the “Corporation”) (TSXV:SPI) (OTCBB:CSPUF) announces the appointment of Carrie Yuill as Chief Financial Officer (“CFO”) of the Corporation effective October 1, 2018. As of September 30, 2018, Dean G. Hill, current CFO, will step down to pursue a new role as Chief Executive Officer at Behr Integrated Solutions, a private emergency management and response services company. J.R. Richard Couillard, [Read more]
Alberta premier to give duelling speech countering anti-pipeline activist
EDMONTON - Alberta Premier Rachel Notley says she will go up against controversial anti-pipeline activist Tzeporah Berman in duelling speeches next month. "I will be going myself to make the case for Alberta and our industry to counter misinformation and ensure that the whole story is told," Notley said to applause in a speech Thursday to the Alberta Urban Municipalities Association in Red Deer. Berman is scheduled to speak at the Alberta Teachers' Association convention on Oct. 13 at the [Read more]
Oilsands producer Cenovus shares get a lift from crude rail deals
CALGARY - Cenovus Energy Inc. shares increased nearly seven per cent after the oilsands producer said it signed three-year deals with Canada's major rail companies to move 100,000 barrels per day of heavy crude oil by rail. The Calgary-based company's shares gained 81.5 cents or 6.8 per cent at $12.825 in late-morning trading on the Toronto Stock Exchange. Chief executive Alex Pourbaix said after markets closed on Wednesday that the deals will allow the company to go around [Read more]
Feds try to pull cloak of secrecy over court case on pipeline spy allegations
OTTAWA - Federal lawyers want closed-door hearings in a high-profile court case about allegations of Canadian Security Intelligence Service spying on anti-pipeline activists. The civil liberties group behind a complaint about the purported CSIS wrongdoing opposes the federal secrecy request, saying it blatantly violates the principle that justice must be seen to be done. The matter is slated to be heard today in an open session of the Federal Court of Canada. The judge's decision will [Read more]
Freehold Royalties Ltd. Q4 2018 Oil-Weighted Working Interest Divestiture
Freehold Royalties Ltd., and Freehold Royalties Partnership (“Freehold”) are selling non-core Working Interest assets in Alberta, Saskatchewan, and BC, which represent a 12-month trailing NOI of approximately $1.9 million (July 2017 – June 2018). The current net production for all of the Assets is approximately 407 boe/d with a liquids weighting of 65% (June 2018). They represent a current annualized NOI of $1.9 million over 228 gross wells and 48 net wells with an average Working [Read more]
Eagle Spirit Energy Corridor already has the approval of 35 First Nations
Calvin Helin, Chairman and President of Eagle Spirit Energy Holding Ltd. is in Calgary this week, spreading news about an important First Nations energy initiative. Helin believes the Eagle Spirit Energy Corridor is a nation-building project - the first indigenous-led major infrastructure project in Canadian history. In a presentation to the 2018 International Pipeline Conference yesterday, Helin pointed out that the First Nations that did not want to support the Northern Gateway Pipeline [Read more]
Trans Mountain CEO says pipe construction could restart in 2019 on NEB timeline
CALGARY - The president and CEO of Trans Mountain Corp. says its sidelined pipeline project could be back on track by next year under a new National Energy Board hearing schedule, setting it up for a possible 2022 opening date. The timeline unveiled by the federal pipeline regulator on Wednesday is "reasonable and fair," said Ian Anderson, the former CEO of Kinder Morgan Canada who became head of the resulting Crown corporation when Ottawa closed its $4.5-billion purchase of the pipeline and [Read more]
Notley’s NDP dropping the ball on fighting anti-pipeline bills, says UCP’s Kenney
CALGARY - Alberta Premier Rachel Notley is rejecting accusations she dropped the ball by waiting too long to publicly take on the feds over two bills her government believes could seriously harm its oil and gas industry. "We've been very engaged on it. We've been on it all along," Notley told reporters Wednesday. "We are focused on a problem-solving approach to addressing this legislation, not a blow-it-all-up and return to a polarized debate that gets nothing done." Notley made the [Read more]