VANCOUVER - A British Columbia Supreme Court judge has granted Trans Mountain an interim injunction aimed at preventing anti-pipeline activists from protesting construction at two terminals in Burnaby. The company listed 15 individuals, along with John Doe, Jane Doe and "persons unnamed" in a notice of civil claim as part of its request to restrict protesters from coming within 50 metres of the facilities. Justice Kenneth Affleck agreed with that condition Friday and said the injunction [Read more]
Headlines
Traverse Energy Ltd. Updates Duvernay Shale Basin Activity
CALGARY, Alberta, March 09, 2018 (GLOBE NEWSWIRE) -- Traverse Energy Ltd. (the “Corporation”) (TSX Venture:TVL) provides an update on its Chigwell Duvernay well (102/03-32-042-24W4) drilled in October 2017. The Corporation’s Duvernay horizontal well (100% working interest) was completed in late November and early December 2017. The well was completed utilizing the plug and perforate stimulation process. A horizontal length of 2,172 meters was stimulated with sand placed at a 1.6 tonnes per [Read more]
Notley threat to cut off oil to others not a new tactic for Alberta
CALGARY - Alberta Premier Rachel Notley's threat to reduce oil shipments to other provinces, the latest salvo in a recent pipeline dispute with British Columbia, carries on a provincial tradition of using its natural resources to reinforce its political positions. The energy-rich province has used its oil and gas exports as leverage at least three times in the past to win arguments with other levels of government, oilpatch historian and author David Finch said Friday. "Because the ... [Read more]
Heavy crude discount narrows, stays within recent range
The Canadian heavy oil discount narrowed on Friday against the West Texas Intermediate (WTI) benchmark,but remained in its tight recent range with no significant increase in takeaway capacity easing a supply build-up in the oil-producing province of Alberta. A significant reduction in the heavy oil discount may occur by mid-year, once railways have moved a grain backlog and can handle more crude, a Calgary industry source said. Western Canada Select (WCS) heavy blend crude for April [Read more]
North American energy IPOs set to rebound in 2018 as oil price stabilizes
Higher oil prices and a positive earnings outlook for energy companies are expected to fuel a rebound in North American oil and gas initial public offerings in 2018, with bankers betting investors will remain optimistic about the sector even if the broader stock market remains volatile. IPOs in the United States and Canada could reach their highest in four years, and oilfield services companies are seen leading the recovery, given their pressing capital needs. More than a dozen energy [Read more]
Canada Weekly Rig Count Down 29 to 273
Western Canada’s fleet of drilling rigs went down 29 rigs to the current count of 273 actively drilling rigs according to data collected by Baker Hughes for the week of March 9th. From one week ago, Alberta rig counts decreased from 208 to 187, the Saskatchewan rig count decreased from 62 to 57. Oil drilling went from 211 to 196; gas rigs went down from 91 to 77. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. oil drillers cut rigs for first week in seven
(Reuters) - U.S. energy companies this week cut oil rigs for the first time in seven weeks even as crude prices hovered near a three-year high, prompting more drillers to boost spending plans for 2018. Drillers cut four oil rigs in the week to March 9, bringing the total count down to 796, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Friday. The U.S. rig count, an early indicator of future output, is much higher than a year ago when 617 [Read more]
Shock and oil: Alberta premier threatens to turn off taps in B.C. dispute
EDMONTON - Alberta Premier Rachel Notley is threatening to turn off the oil taps in a fight with British Columbia over the Trans Mountain pipeline expansion. Notley won't say if she would cut off B.C. or the rest of Canada — or both — but says her government is ready to pass legislation to make it happen. "Our key focus is getting people's attention on the matter," Notley told a news conference Thursday prior to the speech from the throne to open the next session of the [Read more]
Freehold Royalties Ltd. Announces 2017 Results, Increases Dividend and Unveils 2018 Guidance
CALGARY, Alberta, March 08, 2018 (GLOBE NEWSWIRE) -- Freehold Royalties Ltd. (Freehold) (TSX:FRU) announced fourth quarter and year-end results for the period ended December 31, 2017. RESULTS AT A GLANCE Three Months Ended Twelve Months Ended December 31 December 31 FINANCIAL ($000s, except as noted) 2017 2016 Change 2017 2016 Change Royalty and other revenue 38,435 39,893 -4% 151,894 129,968 17% Funds from [Read more]
Chinook Energy Inc. Announces Fourth Quarter and 2017 Results
CALGARY, Alberta, March 08, 2018 (GLOBE NEWSWIRE) -- Chinook Energy Inc. ("our", "we", or "us") (TSX:CKE) is pleased to announce its fourth quarter and 2017 financial and operating results. Our operational and financial highlights for the three months and year ended December 31, 2017 are noted below and should be read in conjunction with our consolidated financial statements for the years ended December 31, 2017 and 2016 and our related management’s discussion and analysis which have been [Read more]