CALGARY - A rally in oil prices that started late last year and shows no signs of stopping in 2018 is expected to pave the way for bigger payouts for long-suffering Canadian energy investors as fourth-quarter reporting season gets underway in the next month. Researchers at both AltaCorp Capital Inc. and BMO Capital Markets predicted in reports this week that Calgary-based Husky Energy Inc. will reinstate a modest cash dividend to replace the one it cancelled in late 2015 because of low [Read more]
Headlines
Pengrowth Announces Appointment of Chief Operating Officer
CALGARY, Alberta, Jan. 25, 2018 (GLOBE NEWSWIRE) -- Pengrowth Energy Corporation (TSX:PGF) (NYSE:PGH) announces a realignment of its executive team with the appointment of Randy Steele as Chief Operating Officer. Mr. Steele, who originally joined Pengrowth in 1998, and who currently holds the position of Senior Vice President, Conventional Operations, will assume operational responsibility for all of the Corporation’s operations. Mr. Steve De Maio, Senior Vice President Thermal Operations will [Read more]
Heritage Resource Limited Partnership – Palliser Enchant Prospect
Palliser Enchant Prospect Heritage Resource Limited Partnership is marketing fee simple mineral rights for Lease on the Palliser Block. The prospect area identifies horizontal development opportunities in the Mannville and below base Mannville by using subsurface analog data. Highlights Enchant T14/15 R15/16 W4M ~15 contiguous sections of available PNG from Top Mannville to Basement* Partial 3D/2D Seismic coverage available for review. *Details found at [Read more]
North American Oil & Gas Industry is on the upswing, is your company prepared to leverage it?
Dear Industry Colleague, Global Petroleum Show (GPS) is the most important energy event in North America attracting more than 50,000 international and domestic oil & gas executives from over 20,000 companies, high-level government officials, National and International Oil Companies (NOC’s & IOC’s), thought leaders and influencers from than 115 countries around the world. This year GPS celebrates its 50th anniversary, June 12 – 14, 2018, and will feature special events and host some of [Read more]
Chiefs Council Launches GoFundMe Campaign to Quash Oil Tanker Moratorium Act and Great Bear Rainforest
LAX KW'ALAAMS, BC, Jan. 24, 2018 /CNW/ - The Chiefs Council represents over 30 communities engaged in the First Nations-led Eagle Spirit energy corridor proposed from Bruderheim, Alberta to tidewater in northern British Columbia. Its members have unextinguished Aboriginal rights and title from time immemorial and continuing into the present, or have treaties over the land and ocean of their traditional territories. Having protected the environment as first-stewards of their traditional [Read more]
Eastern refineries could save millions by buying more Canadian oil: CERI report
CALGARY - Refineries in central and Atlantic Canada could save money on oil costs and produce fewer global greenhouse gas emissions if they bought more Canadian crude oil, according to a study by the Canadian Energy Research Institute released Wednesday. The study finds that substituting Canadian oil wherever possible using space on existing pipelines, railcars and ocean tankers would result in a 47 per cent reduction in foreign oil imports into Eastern Canada, saving the refineries $210 [Read more]
U.S. crude oil inventories down for record 10th week: EIA
(Reuters) - U.S. crude stocks fell for a record 10th straight week as levels at the Cushing, Oklahoma hub continued to draw down to three-year lows, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories fell 1.1 million barrels in the week to Jan. 19, compared with analyst expectations for a decrease of 1.6 million barrels. At 411.6 million barrels, crude stocks were at the lowest since February 2015, and the string of [Read more]
A tale of a tanker, Russian gas, sanctions and energy politics
(Reuters) - After months of President Donald Trump’s promises to bring about a new era of American “energy dominance,” largely based on booming oil and natural gas production, it was surprising to learn that the United States will continue importing liquefied natural gas this winter. Even more surprising: that the country could import its first Russian LNG produced by Yamal LNG, a facility subject to U.S. financial sanctions. The cargo at the heart of the controversy is carried by Gaselys, a [Read more]
Pipeline company Kinder Morgan sees short-term hit from U.S. tax reform
Pipeline company Kinder Morgan Inc said on Wednesday that it expects U.S. tax reform to result in a one-time hit to earnings of $1.4 billion, but said it would be better off in the long run. In a presentation to analysts, Houston-based Kinder said the negative impact was due to lower tax rates affecting the value of its deferred tax assets. The company said over a 10-year period, it would be better off due to the ability to fully expense capital spending on certain assets, as well as the [Read more]
Big Oil flush with cash again, but no party yet
LONDON (Reuters) - The world’s top oil companies are expected to generate more cash in 2018 than at any other time this decade after three painful years of cuts, but it isn’t party time yet. The shift in sentiment has been rapid as crude prices have risen by more than 50 percent over the past six months to reach $70 a barrel, a level not seen since the crash year of 2014, thanks to global supply cuts led by OPEC. Only a year ago, many investors still fretted over the sustainability of the [Read more]