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]
Headlines
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]
New Oil and Gas Jobs From BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Jan. 22 Summer Student, JEEP AltaGas Lacombe Jan. 22 Summer Student, EEEP AltaGas Edmonton Jan. 22 EMT-P / Firefighter Canadian Natural Resources Fort [Read more]
Kinder Morgan Canada Limited Closes Amendment of $5.5 billion of Credit Facilities
CALGARY, Jan. 23, 2018 /CNW/ - Kinder Morgan Canada Limited (TSX: KML) announced today certain amendments to the terms of its $5.5 billion credit facilities. The credit agreement, which established KML's credit facilities, was amended to provide for, among other things, additional funding certainty with respect to the $4.0 billion revolving construction facility, the $1.0 billion revolving contingent facility and the $500 million revolving working capital facility, as well as extension of the [Read more]
Keystone oil pipeline still at reduced pressure – spokesman
TransCanada Corp's Keystone crude pipeline is still operating at 20 percent reduced pressure, a spokesman for the company said on Tuesday, more than two months after a leak forced the line to be shut. Calgary-based TransCanada shut the 590,000 barrel-per-day pipeline, one of Canada's main crude export routes linking Alberta to U.S. refineries, on Nov. 16 after the leak was detected. The pipeline was restarted about two weeks later, but the U.S. Pipeline and Hazardous Materials Safety [Read more]
Western Canada’s Largest Inventory of Flare Knockout Drums
OSY Rentals is pleased to offer a fleet of over 100 “like new," used FKOD’s from manufacturers like Tornado, Pollitt, Bilton, and Platinum. Units have new internal coating. Clean and ready to go. Available is sizes from 5 bbl to 200 bbl. Available coated, heated, enclosed, and contained. Cost effective option opposed to buying new. Why buy new if used will do? Pressure ratings from 14.7 Psi to 285 psi 3”- 8” inlet connections available Common Sizes are 5, 10, 15, 25, 50, 75, and [Read more]
TORC Oil & Gas Ltd. Appoints New Member to Board of Directors
CALGARY, Jan. 23, 2018 /CNW/ - TORC Oil & Gas Ltd. ("TORC" or the "Company") (TSX: TOG) is pleased to announce the appointment of Ms. Mary-Jo Case to the Company's Board effective January 23, 2018. Ms. Case is an independent businesswoman with over 34 years of experience in the oil and gas industry, with a depth of experience in the areas of mergers, acquisitions and dispositions, negotiations, contracts, land administration, land systems and human resources. Prior to her retirement in [Read more]
Petrochemical Development in Alberta – Developing New Demand for Propane
Two new petrochemical projects for the Alberta Industrial Heartland region will qualify for up to $500 million in royalty credits under Alberta's Petrochemicals Diversification Program announced on Dec 5th 2016. Both projects will convert propane extracted from natural gas into value-added plastic products. What does this initiative mean for Natural Gas producers? With Alberta & BC Natural Gas and NGL supply growth being driven by unconventional plays like the Montney & the Duvernay , [Read more]
Leucrotta Announces Update on Operations and Financial Position
CALGARY, Alberta, Jan. 23, 2018 (GLOBE NEWSWIRE) -- Leucrotta Exploration Inc. (“Leucrotta” or the “Company”) (TSXV - LXE) is pleased to announce the following update: PRODUCTION ON 9-33, A8-22 AND 8-4 LOWER MONTNEY TURBIDITE OIL WELLS AND 4-12 LOWER MONTNEY TURBIDITE LIQUIDS RICH GAS WELL During 2017, Leucrotta started to experiment with higher intensity fracs with several wells moving from the standard Leucrotta type curve well of 28 fracs used in 2016 to up to 51 stages used in the 9-33 [Read more]
Journey Energy Inc. Announces Repurchase of 24.8% of its Outstanding Common Shares, Purchase of Duvernay Lands and Updates 2018 Guidance
CALGARY, Jan. 22, 2018 /CNW/ - Journey Energy Inc. (JOY – TSX) ("Journey" or the "Company") announces that it will purchase 12.7 million of its outstanding shares from its largest shareholder, MIE Maple Investments Limited ("MIE") for cancellation. Journey is also providing an update on 2018 activities, including new guidance, and announcing the accumulation of a material land position in an emerging Duvernay resource play. 12.7 Million Share Repurchase for Cancellation After a review of [Read more]