CALGARY - The federal government said Thursday it has finalized regulations that should reduce methane emissions from the oil and gas sector by close to half. The regulations include flexibilities to reduce costs, while ensuring industry meets the target of reducing methane emissions by 40 to 45 per cent below 2012 levels by 2025, it said. Announced by Environment Minister Catherine McKenna, the regulations are expected to cut carbon pollution by about 20 million tonnes a year, the [Read more]
Headlines
Vermilion Energy Inc. Announces Results for the Three Months Ended March 31, 2018
CALGARY, April 26, 2018 /CNW/ - Vermilion Energy Inc. ("Vermilion", "We", "Our", "Us" or the "Company") (TSX, NYSE: VET) is pleased to report operating and condensed financial results for the three months ended March 31, 2018. The unaudited financial statements and management discussion and analysis for the three months ended March 31, 2018, will be available on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com, on EDGAR at www.sec.gov/edgar.shtml, and on [Read more]
McKenna outlines pipeline protections ahead of B.C court reference
OTTAWA - Environment Minister Catherine McKenna is floating the idea of a joint Ottawa-B.C. panel of scientists to enhance existing research on oil spills as the federal government continues pressing its case for the Trans Mountain expansion project. McKenna is making the proposal to B.C. Environment Minister George Heyman just as the province prepares to unveil the question it will ask the Court of Appeal as it tries to limit the flow of oil through the expanded pipeline. B.C.'s efforts [Read more]
Gain Energy Ltd. – Non-Core Property Divestiture
Gain Energy Ltd. (“Gain” or the “Company”) has engaged Sayer Energy Advisors to assist with the sale of its non-core properties in central Alberta, northern Alberta and northeastern British Columbia (the “Properties”). Gain’s estimated recent oil and natural gas sales from the Properties have averaged approximately 2,515 barrels of oil equivalent per day, consisting of approximately 10.7 MMcf/d of natural gas, 376 barrels of oil per day and 358 barrels of natural gas liquids per day. Gain has [Read more]
B.C. government to unveil details on pipeline reference case
VICTORIA - Details are expected to be released today about British Columbia's court case that questions if the province has the power to regulate the flow of oil from the Trans Mountain pipeline expansion. Premier John Horgan has said a reference case will be filed in B.C.'s Court of Appeal by April 30, seeking to clarify the province's rights to protect its environment and economy from an oil spill. A B.C. government official says the scheduled announcement on environmental protection is [Read more]
Suncor’s Director of Digital Transformation, Mike Teshima, just confirmed to keynote at Calgary Operational Excellence Summit
Mike Teshima, Director of Digital Transformation at Suncor, will be joining the list of 40+ keynote speakers at the upcoming Operational Excellence in Energy, Chemicals & Resources Summit, taking place in Calgary this June 4-6. Mike will discuss how oil and gas companies can improve performance by leveraging complete and up-to-date asset information and use this information to make better decisions resulting in higher productivity, faster execution and lower risk. Download a copy of [Read more]
Rosy outlook for WTI as EIA overstates recent shale production
You may recall in my two previous posts on this subject that I sensed EIA production estimates were too optimistic based on large step change (300,000 BOPD or more) production estimates in the weekly Petroleum Status Report (PSR). Now that Texas Railroad Commission (TRC) third month production numbers are in, I can definitively comment on production during the above time frame. Based on the EIA PSR, US production has increased from 9,430,000 BOPD on August 1, 2017 to 10,251,000 BOPD at the [Read more]
AltaGas Ltd. Reports First Quarter 2018 Results
CALGARY, April 26, 2018 /CNW/ - Highlights (all financial figures are unaudited and in Canadian dollars unless otherwise noted) Achieved normalized EBITDA1 of $223 million in the first quarter of 2018; Achieved normalized funds from operations1 of $169 million in the first quarter of 2018; Received regulatory approval from Maryland Public Service Commission (PSC of MD) for the approximately $9 billion transformational pending acquisition of WGL Holdings, Inc. (WGL Acquisition); [Read more]
ConocoPhillips Reports First-Quarter 2018 Results; Strong Performance on Delivering Disciplined Plan
HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE:COP) today reported first-quarter 2018 earnings of $0.9 billion, or $0.75 per share, compared with first-quarter 2017 earnings of $0.6 billion, or $0.47 per share. Excluding special items, first-quarter 2018 adjusted earnings were $1.1 billion, or $0.96 per share, compared with a first-quarter 2017 adjusted loss of $0.2 billion, or ($0.14) per share. Special items for the current quarter were primarily driven by premiums on early debt retirement and [Read more]
Husky Energy Reports First Quarter 2018 Results
CALGARY, Alberta, April 26, 2018 (GLOBE NEWSWIRE) -- Husky Energy (TSX:HSE) generated funds from operations of $895 million in the first quarter, leading to free cash flow of $218 million. Net earnings were $248 million, up 250 percent compared to $71 million in the same period a year ago. “Despite persistent discounts on Canadian heavy oil due to the ongoing lack of pipeline capacity, our integrated model showed its value,” said CEO Rob Peabody. “With almost 400,000 bbls/day in Canadian and [Read more]