CALGARY, Alberta, May 01, 2018 (GLOBE NEWSWIRE) -- (TSX:ECA) (NYSE:ECA) Encana’s first quarter financial and operating performance has the company firmly on track to deliver more than 30 percent annual production growth within expected cash flow. Increased year-over-year liquids production, continued cost efficiencies and strong realized pricing resulting from the company’s market diversification strategy contributed to significant non-GAAP cash flow growth and margin expansion. Consistent [Read more]
Headlines
Coastal Gaslink Pipeline Awaits LNG Canada FID
TransCanada subsidiary has spent $400mn so far on pipeline link After six years of planning, hundreds of meetings with First Nations and an expenditure of some $400mn, Coastal GasLink, the $4bn pipeline that will deliver gas to the $36bn LNG Canada terminal at Kitimat, British Columbia, awaits a positive FID from LNG Canada partners before putting shovels in the ground on the 670 km pipeline. Rick Gateman, president of TransCanada subsidiary Coastal GasLink, will address two panels at the [Read more]
Innovative Data Analytics Platform Used by More than 40 US E&P Customers Enters Canada
Prior to the global oil industry downturn, shale oil’s record output had been rewriting the U.S. production story. However, with higher drilling and fracking costs make shale oil extraction more expensive than conventional drilling, operators were looking for innovative techniques for saving time and money in order to survive and thrive. Thus, a unique big data analytics platform was born in the United States which redefined how engineers make real-time decisions that lead to drill cheaper, [Read more]
2018 Global Petroleum Show: The Elephant in the Room
U.S. crude output jumps to record 10.26 million barrels per day in February: EIA
NEW YORK (Reuters) - U.S. crude oil production jumped 260,000 barrels per day (bpd) to 10.26 million bpd in February, the highest on record, the Energy Information Administration said in a monthly report on Monday. Production in Texas rose by 106,000 bpd to above 4 million bpd, also a record high based on the data going back to 2005. The Permian basin, which stretches across West Texas and eastern New Mexico, is the largest U.S. oilfield. Output from North Dakota declined marginally to [Read more]
PM sells Trans Mountain pipeline as Amazon announces expansion in Vancouver
VANCOUVER - Prime Minister Justin Trudeau promoted the expansion of retail giant Amazon's technology hub in Vancouver on Monday as he used the region's record-high gas prices to continue selling the expansion of the Trans Mountain pipeline. "I know that part of the challenge that folks across the Lower Mainland and B.C. are facing right now is related to the fact that we are connected so closely to the U.S. market and to what happens in the United States," Trudeau said as the price of gas [Read more]
PrairieSky Receives TSX Approval for Renewed Normal Course Issuer Bid
CALGARY, Alberta, April 30, 2018 (GLOBE NEWSWIRE) -- PrairieSky Royalty Ltd. ("PrairieSky" or the "Company") (TSX:PSK) is pleased to announce that the Toronto Stock Exchange (the "TSX") has accepted the notice of PrairieSky's intention to commence a normal course issuer bid (the "NCIB"). PrairieSky previously purchased an aggregate of 1,429,600 common shares at a weighted average price per share of $30.46 under a normal course issuer bid that runs between May 4, 2017 and May 3, 2018. On April [Read more]
No relief in sight as gasoline price hits four-year high over $1.33 per litre
CALGARY - Canadians celebrating the onset of summer driving season have been dismayed by another spring phenomenon — rising gasoline prices across the country. According to GasBuddy.com, the average price of regular gasoline in Canada on Monday was about $1.33 per litre, up 22 cents from the average of $1.11 per litre at the same time last year. The record high for the same day was set in 2014 at just over $1.37. Vancouver region prices have spiked to all-time record highs over $1.61 [Read more]
Everyone can appreciate the environment; who can appreciate what it takes to heat a thousand homes?
On a recent trip stateside, a mindless interlude in a hotel room led to some channel flipping, and I lazily settled for a reality show called Undercover Boss or something. It turned out to be somewhat interesting, enough so to be captivating for a couple episodes anyway. Each episode has a corporate CEO going “undercover” to perform some of the crappier jobs in their own company, unbeknownst to the day’s coworkers (who oddly enough never seem to have any idea who their CEO is, which I suppose [Read more]
Op Ed: Balkissoon should tamp down the rhetoric on Alberta energy sector
In her recent column in the Globe and Mail, Denise Balkissoon claimed it’s complicated to be a climate hawk living in Ontario. But she feels she has Alberta all figured out. Let me update her on a few key facts. In Ontario, where coal-displacing gas-plants are cancelled for political expediency, and where CO2-free nuclear power is under threat by – wait for it – the Ontario Clean Air Alliance, I’ll admit eastern climate hawks do have their work cut out for them. But for Balkissoon to hope [Read more]