VANCOUVER - The Federal Court of Appeal is scheduled to release its decision next week in a case that combined nearly two dozen lawsuits calling for the National Energy Board's review of the Trans Mountain pipeline to be overturned. The board, Trans Mountain and the federal government defended the project as viable during two weeks of hearings in Vancouver last fall. First Nations, including the Tsleil-Waututh, argued the federal government did not adequately consult them, although federal [Read more]
Headlines
U.S. drillers cut most oil rigs in over 2 years
U.S. energy companies cut nine oil drilling rigs this week, the biggest reduction since May 2016, following a recent decline in crude prices. The oil rig count fell to 860 in the week to Aug. 24, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. U.S. crude futures , trading around $69 per barrel, were down about 7 percent so far this quarter, heading for the first quarterly decline since the second quarter last year. Prices this week [Read more]
Canada Weekly Rig Count Up 17 to 229
Western Canada’s fleet of drilling rigs increased to to a total of 229 according to data collected by Baker Hughes for the week of August 24th. From one week ago, Alberta rig counts increased from 145 to 159. Saskatchewan's rig count increased from 46 to 49. Oil drilling went from 141 to 153; natural gas rigs increased from 71 to 76. View a full breakdown of western Canada’s rig activity. [Read more]
Goldboro LNG proponent strikes deal to merge with Alberta gas producer
CALGARY - The proponent of an LNG export terminal in Nova Scotia has struck a deal to merge with an Alberta natural gas producer. In a joint news release, Pieridae Energy Ltd. CEO Alfred Sorensen says the merger with Ikkuma Resources Corp. is a key step taking it to a final investment decision on its proposed $10-billion Goldboro LNG project. Pieridae shares on the TSX Venture Exchange fell more than 24 per cent to $3.40 by noon Friday while Ikkuma stock on the same market more than [Read more]
Pieridae and Ikkuma to Complete a Business Combination
CALGARY, Aug. 24, 2018 /CNW/ - Pieridae Energy Limited (PEA-TSXV) ("Pieridae") and Ikkuma Resources Corp. (IKM-TSXV) ("Ikkuma") announce they have entered into a definitive agreement dated August 23, 2018 (the "Arrangement Agreement") providing for the acquisition by Pieridae of all of the issued and outstanding shares of Ikkuma to be effected by way of a plan of arrangement (the "Arrangement") under section 193 of the Business Corporations Act (Alberta). The completion of the Arrangement [Read more]
Enbridge Announces Definitive Agreement to Acquire All Public Equity of Spectra Energy Partners, Advances Corporate Structure Simplification
CALGARY and HOUSTON, TX, Aug. 24, 2018 /PRNewswire/ - Enbridge Inc. (TSX: ENB) (NYSE: ENB) (Enbridge) on behalf of itself and certain of its wholly owned US subsidiaries and Spectra Energy Partners, LP (NYSE:SEP) (SEP) today announced that they have entered into a definitive agreement ("Agreement") under which Enbridge will acquire all of the outstanding public common units of SEP on the basis of 1.111 common shares of Enbridge for each common unit of SEP ("Agreed Exchange Ratio"). The Agreed [Read more]
Shelved Aramco IPO hits at heart of Saudi prince’s reforms
Saudi Arabia's decision to shelve what was billed as the biggest share sale ever is a major blow to the credibility of Crown Prince Mohammed bin Salman but there are other ways to finance reforms to strengthen the economy, bankers and investors say. The initial public offering (IPO) of 5 percent of state-owned oil giant Saudi Aramco was a centrepiece of the crown prince's plan to diversify the kingdom's economy beyond oil by raising $100 billion for investment in other sectors. The [Read more]
Register now for the 2018 CAPL Conference!
This year’s CAPL Conference is happening in just 4 weeks - September 15-18, 2018! There is still time to register and sponsorship opportunities are also available. Join the premier forum for Canadian Land Professionals this year in Regina, Saskatchewan with our featured speakers: Keystone Royalty Corp. and Millennium Land Ltd. present Brad Wall – Former Saskatchewan Premier; Repsol presents Murad Al-Katib – President and CEO AGT Food & Ingredients Inc.; North American Helium [Read more]
Marksmen Announces Operational Update
CALGARY, Alberta, Aug. 23, 2018 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (“Marksmen” or the “Company”) and its wholly owned subsidiary Marksmen Energy USA, Inc. announces the following: Operational Update At the Leaman #1 Horizontal well in Hocking County, Ohio, Marksmen is a 60 % working interest owner in this well operated by Hocking Hills Energy and Well Services LLC. of Ohio. As stated in an earlier press release this well encountered a number of oil and gas shows during the drilling and [Read more]
Supreme Court dismisses Burnaby’s case against Trans Mountain pipeline
The Alberta government is "batting a thousand" when it comes to fighting for the Trans Mountain pipeline expansion, Premier Rachel Notley said Thursday, after the Supreme Court of Canada dismissed an appeal by the City of Burnaby on construction of the controversial line. "When the B.C. government tried to overstep its legal and constitutional authority, we took bold action – and they backed down," she said in a social media post. "When the City of Burnaby tried to block the Trans Mountain [Read more]