CALGARY - Athabasca Oil Corp.'s chief executive had a message for Prime Minister Justin Trudeau on Friday, blasting his government for not providing regulatory certainty or doing its job to get pipelines built. "I would tell him he has to show leadership on the pipeline file. And it's not just words," said Athabasca CEO Rob Broen at the company's annual general meeting in Calgary. "He needs to back up Kinder Morgan, the pipeline he's approved, and he needs to see it through to [Read more]
Headlines
Manitoba premier says he’ll take the federal government to court over carbon tax
WINNIPEG - Manitoba is prepared to take the federal government to court if Ottawa imposes a higher carbon tax than the province is planning, Premier Brian Pallister said Friday. "I have a simple message for Ottawa today — back off or we'll see you in court," Pallister said at the legislature. The federal government has demanded all provinces adopt a carbon price this year of $10 per tonne, which would rise by $10 each year until it hits $50 in 2022. Pallister is planning [Read more]
Canada Weekly Rig Count Continues Spring Breakup Decline, Down 23 to 111
Western Canada’s fleet of drilling rigs went down 23, amidst spring breakup, to a current count of 111 according to data collected by Baker Hughes for the week of April 6th. From one week ago, Alberta rig counts decreased from 114 to 92, Saskatchewan's rig count decreased from 6 to 3. Oil drilling went from 71 to 48; gas rigs remained at 63. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. drillers add oil rigs for the third week in four
(Reuters) - U.S. energy companies added oil rigs for the third time in four weeks as crude prices drifted from a three-year high hit earlier this year amid concerns of a trade war between U.S. and China. Drillers added 11 oil rigs in the week to April 6, bringing the total count up to 808, the highest level since March 2015, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Friday. This was the biggest weekly addition in about two months. The [Read more]
Saturn Oil & Gas Inc. Provides Initial 30-day Production Results and Closes Financing
SASKATOON, Saskatchewan, April 06, 2018 (GLOBE NEWSWIRE) -- Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX.V:SMI) (FSE:SMK) is pleased to provide initial 30-day production (“IP30”) results for two of the three recently completed Viking horizontals in the Flaxcombe area. The Company would also like to announce that it has entered into a secured Financing Facility Agreement (the “Facility Agreement”) with UOG-BC Holdings Ltd., an affiliate of RC Morris & Company Special [Read more]
Baker Hughes, a GE Company Announces March 2018 Rig Counts
HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for March 2018 was 972, down 7 from the 979 counted in February 2018, and up 29 from the 943 counted in March 2017. The international offshore rig count for March 2018 was 185, down 9 from the 194 counted in February 2018, and down 12 from the 197 counted in March 2017. The average U.S. rig count for March 2018 was 989, up 20 from the 969 counted in [Read more]
Lifting Solutions Inc. Acquires Canadian Continuous Rod Service Assets From Multinational Service Company
Lifting Solutions Inc. establishes industry-leading platform for continuous rod service solutions EDMONTON AND CALGARY, ALBERTA – Lifting Solutions Inc. (“Lifting Solutions”) announced today that it has completed the acquisition of all the Canadian continuous rod service assets from a major multinational oilfield services company. Lifting Solutions total fleet size has increased from 70 to 320 pieces of equipment with service units capable of pulling and running continuous rod now totaling [Read more]
Questerre engages Hatch for engineering on Jordan oil shale project
CALGARY, Alberta, April 06, 2018 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX:QEC) (OSE:QEC) reported on the progress of the internal feasibility study for its oil shale project in Jordan. The Company has recently engaged Hatch Ltd. (“Hatch”), a global engineering firm, to integrate and support its internal work on the technical and economic feasibility of this project. Michael Binnion, President and Chief Executive Officer, commented, “This is an [Read more]
Pengrowth Provides First Quarter Operational Update and Announces Participation at the CAPP Scotiabank Investment Symposium
CALGARY, Alberta, April 05, 2018 (GLOBE NEWSWIRE) -- Pengrowth Energy Corporation (TSX:PGF) (NYSE:PGH) is pleased to provide an update on our operational progress during the first quarter of 2018 in accordance with our business plan. “I am excited by the execution and progress that our teams have achieved thus far, in my early tenure at Pengrowth”, said Pete Sametz, President and Chief Executive Officer of Pengrowth. “Through the successful delivery of our development program, which is centered [Read more]
Texas oil output surge clogs pipelines, depresses prices
NEW YORK (Reuters) - The Permian basin in Texas is leading the way as U.S. oil production has reached an all-time high, but the prolific output is causing bottlenecks as pipelines transporting the crude have filled up more quickly than expected. That has depressed prices there, posing a threat to future production, while providing a boost to pipeline companies as the lines have filled to near-capacity. With few new pipeline projects scheduled for this year, producers may be forced to slow [Read more]