HOUSTON (Reuters) - Exxon Mobil Corp Chief Executive Darren Woods is reorganizing the company’s refining operations, part of a push to boost profits amid volatile oil and natural gas prices, the company said on Monday. The changes at the world’s largest publicly traded oil producer are the most sweeping to date by Woods, who became chief executive in January after former chief Rex Tillerson resigned to become U.S. secretary of state. Woods has moved first to reshape the parts of the [Read more]
Headlines
Keystone to Resume Crude Oil Deliveries on Tuesday, November 28
AMHERST, SOUTH DAKOTA--(Marketwired - Nov. 27, 2017) - Media Advisory - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) announced that its Keystone Pipeline repair and restart plans have been reviewed by the Pipeline and Hazardous Materials Safety Administration (PHMSA) with no objections, permitting a safe and controlled return to service of the Keystone System. As part of the reviewed plans, TransCanada will operate the pipeline at a reduced pressure starting on Tuesday, November [Read more]
Transcanada asks Nebraska to reconsider approval of alternate Keystone pipeline route
TransCanada has asked the Nebraska Public Service Commission to reconsider its order approving an alternate route for the Canada-U.S. Keystone XL pipeline, according to a filing posted on the commission's website on Monday. The Canadian pipeline company is seeking a "clarification" on the PSC's Nov. 20 decision to approve an alternative route for the Keystone XL pipeline, a TransCanada spokesman said. The approved line was not the company's preferred route. "Keystone requests the [Read more]
Enbridge reaches deal with Michigan on underwater Great Lakes pipeline
CALGARY - Enbridge Inc. says it has reached a deal with the State of Michigan on the aging Line 5 pipelines that run along the bottom of a channel between Lakes Huron and Michigan. The twin pipelines were laid in 1953 and have raised increasing concerns about the potential impacts on the Great Lakes if the 540,000-barrel-a-day pipeline were to leak. The Calgary-based energy company (TSX:ENB) says the deal with the state includes completing an evaluation by June 2018 on three [Read more]
Workcamp providers join forces to deal with shrunken oilsands market
CALGARY - Houston-based Civeo Corp. says it is buying Noralta Lodge Ltd. of Edmonton for $367 million in a deal that unites two major providers of workforce accommodation in the oilsands region of northern Alberta. The companies say in a joint news release they expect to save $10 million annually by 2019 through operational efficiencies. Lower oil prices over the past three years have dried up capital availability to build new oilsands and infrastructure projects, leading to high [Read more]
A shale gas superstar utters the unmentionable: “sweet spot exhaustion”
Those who are concerned the U.S. might run out of natural gas in the years ahead ignore estimates made by government and industry experts that this country has enough shale gas to meet domestic needs as well as export opportunities through the rest of this century and beyond. (The Washington Examiner, November 2017). There’s a fine line, sometimes indistinguishable, between saying things no one wants to hear and being the crazy guy on the corner shouting at governments or mailboxes. The weird [Read more]
Marksmen Energy Inc. Announces Operations Update
CALGARY, Alberta, Nov. 27, 2017 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (TSX-V:MAH) (OTCQB:MKSEF) (“Marksmen” or the “Company”) and Its wholly owned subsidiary, Marksmen Energy USA, Inc. announces the following update on wells in Ohio, USA. Morrow County - Marksmen is participating as a 25% working interest owner in a well operated by Houghton Investments LLP. The well is currently nearing total depth with a target zone in the Trempealeau Dolomite formation. The drilling contractor has [Read more]
Questerre consolidates Antler assets through acquisition
CALGARY, ALBERTA--(Marketwired - Nov. 27, 2017) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) announced today that it has closed an acquisition of producing Bakken/Torquay oil assets in the Antler area of southeast Saskatchewan. Michael Binnion, President and Chief Executive Officer of Questerre, commented, "This accretive acquisition consolidates our operated working interest at Antler. We now own 100% of these assets and add low-decline, high netback [Read more]
Canada’s First Virtual Trade Show for the Oil and Gas Industry May 8th and 9th 2018
Early Bird Booth Rates End December 1st To reserve your booth email: Sales@5starmediagroup.ca Attendee Registration is Now Open Over the years we have seen a continual decrease in foot traffic at traditional oil and gas trade shows. Less of the right people are attending which means less networking opportunities for exhibitors. In addition, companies are faced with staggering overhead such as the price of booths, union fees, shipping costs, flights, hotels, meals, and man [Read more]
Canada Weekly Rig Count Up 7 to 215
Western Canada’s fleet of drilling rigs went up by 7 to the current count of 215 actively drilling rigs according to data collected by Baker Hughes for the week of November 22nd. From one week ago, Alberta rig counts decreased from 155 to 153, the Saskatchewan rig count increased from 25 to 32. Oil drilling went down by 2 to 107; gas rigs went up 9 to 108. View a full breakdown of western Canada’s rig activity. [Read more]