CALGARY - The National Energy Board says it has granted intervener status to 98 applicants for an upcoming hearing to reconsider approval of the Trans Mountain pipeline expansion project. The NEB says it received 123 applications to participate by the deadline and rejected 25 of them. It says 75 applicants were interveners in previous hearings and 23 are considered new applicants. The list includes the cities of Vancouver, Victoria and Burnaby; Indigenous groups from Alberta and B.C.; [Read more]
Headlines
Canada Weekly Rig Count Up 4 to 182
Western Canada’s fleet of drilling rigs decreased to a total of 182 according to data collected by Baker Hughes for the week of October 5th. From one week ago, Alberta rig counts returned to 126 after declining to 110 from the week before. Saskatchewan's rig count decreased from 48 to 33. Oil drilling went from 122 to 119; natural gas rigs increased from 56 to 63. View a full breakdown of western Canada’s rig activity. [Read more]
ConocoPhillips Announces Increase in Quarterly Dividend
HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today announced a quarterly dividend of 30.5 cents per share, an increase of 7 percent, payable Dec. 3, 2018, to stockholders of record at the close of business on Oct. 15, 2018. “Today’s dividend action is consistent with our strong operational performance, our focus on margin and cash flow expansion, and our commitment to a differentiated returns-focused value proposition, under which we return a substantial percentage of our cash flows [Read more]
U.S. oil drillers cut rigs for third week in a row
The U.S. oil drilling rig count fell for a third consecutive week even though crude prices hit four-year highs this week, as rising costs and pipeline bottlenecks in the nation's largest oil field have hindered new drilling since June. Drillers cut two oil rigs in the week to Oct. 5, bringing the total count down to 861, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. This is the longest streak of weekly cuts since October last [Read more]
Baker Hughes, a GE company Announces September 2018 Rig Counts
HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for September 2018 was 1,004, down 4 from the 1,008 counted in August 2018, and up 73 from the 931 counted in September 2017. The international offshore rig count for September 2018 was 204, down 8 from the 212 counted in August 2018, and up 14 from the 190 counted in September 2017. The average U.S. rig count for September 2018 was 1,053, up 3 from the [Read more]
What B.C.’s LNG megaproject means for two proposed Nova Scotia facilities
HALIFAX - Some see it as a signal of investor confidence in liquefied natural gas megaprojects. Others say it could edge out less competitive LNG proposals in Canada. Either way, final approval of a massive LNG project in northern British Columbia has renewed interest in the fate of two projects slated for Canada's East Coast. Bear Head LNG, a subsidiary of Australia-based Liquefied Natural Gas Ltd., has a site on the Strait of Canso while Goldboro LNG, a Pieridae Energy Canada project, is [Read more]
Saskatchewan files for intervener status in Ontario carbon tax court challenge
SASKATOON - The premiers of Saskatchewan and Ontario say they'll remain united against the federal government's carbon tax plan and are pleased that another province is joining the fight. Ontario's Doug Ford and Scott Moe from Saskatchewan say Manitoba's decision to scrap its own plan to put a price on carbon shows that opposition against the federal tax is gaining momentum. Manitoba Premier Brian Pallister announced on Wednesday that his province will not be going ahead with a $25-a-tonne [Read more]
Talks to manage offshore Arctic drilling may signal end of ban: NWT premier
YELLOWKNIFE - The federal government is opening talks with northerners on managing offshore energy exploration in the Canadian Arctic, a move some hope signals a coming relaxation of the current ban on potential development. "I would hope that's the case," said Northwest Territories Premier Bob McLeod. "We'll see as we negotiate. I certainly am feeling very optimistic." Northern Affairs Minister Dominic Leblanc and Natural Resources Minister Amarjeet Sohi announced Thursday that Ottawa [Read more]
Connacher Oil and Gas Limited Announces Creditor and Court Approval of Restructuring
CALGARY, Oct. 4, 2018 /CNW/ - Connacher Oil and Gas Limited ("Connacher" or the "Company") is pleased to announce the approval of the Company's Amended and Restated Plan of Compromise and Arrangement (the "Plan") by the required majorities of affected creditors and the Court of Queen's Bench of Alberta (the "Court") in the Company's proceedings under the Companies' Creditors Arrangement Act (the "CCAA"). As previously announced, the Plan effects a transaction to sell the Company to East River [Read more]
Column: Time is Money – “We’re going to take our time to figure this right.”
In many ways this week is a time of great celebration in the West as LNG Canada has been given the go-ahead by its partners in the project, bringing a much-needed shot in the arm for the energy industry and the economy in general. Not only will Canada be the beneficiary of $40 Billion of capital investment and a significant boost to the labour pool, there will be a lot of spin off benefits associated with this project in the form of supporting businesses and the like. This project also [Read more]