CALGARY, Jan. 22, 2018 /PRNewswire/ - Enbridge Inc. (Enbridge or the Company) (TSX:ENB)(NYSE:ENB) and Spectra Energy Partners, LP (SEP) (NYSE:SEP) today announced execution of a definitive agreement, resulting in Enbridge converting all of its incentive distribution rights (IDRs) and general partner (GP) economic interests in SEP into 172.5 million newly issued SEP common units. As part of the transaction, all of the IDRs have been eliminated. The 172.5 million newly issued SEP common units have [Read more]
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Razor Energy Corp. Announces 2018 Corporate Budget and Guidance
CALGARY, ALBERTA--(Marketwired - Jan. 22, 2018) - Razor Energy Corp. ("Razor" or the "Company") (TSX VENTURE:RZE) (www.razor-energy.com) is pleased to announce that its Board of Directors (the "Board") have approved an acquisition, development and operations budget of $38.4 million for fiscal 2018. The diversity of the budget provides for capital allocation towards highly economic production growth in addition to long term operational and technological investments in power generation and [Read more]
FuseRing: The Non-Linear Fusion Solution
Like the old cliché ‘Invention is the Mother of Necessity.’ FuseRing was a spark out of desperation. Solid state fusion (SSF) has been around for over ten years but this process was never commercialized. SSF is the most sophisticated, the most advanced weld in the world bar none. The process is fast; the end product - the weld is superior to anything that I’m aware of anywhere in the world. The crystalline structure of the base metal, heat affected zone and area where the metals fuse together [Read more]
Hedge fund trade in oil becomes very crowded
LONDON, Jan 22 (Reuters) - Hedge funds added to their record bullish positions in petroleum in the week to Jan. 16, continuing the recent wave of buying, but the extra long positions were almost entirely confined to U.S. crude rather than Brent or refined fuels. Hedge funds and other money managers increased their net long position in the six most important futures and options contracts linked to crude and fuels by a total of 41 million barrels. The net long position in Brent, NYMEX and [Read more]
The PJVA is bringing its courses In-House!
Beginning this Spring 2017, the PJVA will be offering its Joint Venture Certificate of Achievement program in-house! Hosted downtown at Associations Plus, this lecture based program is both written and delivered by well respected and experienced Joint Venture professionals. The courses have been tailored to meet the needs of Canadian Joint Venture Departments, and are designed with those both within and outside of the Canadian Oil & Gas Industry. Beginning February 1 with “Joint Venture [Read more]
Metro Vancouver cities, residents to oppose Trans Mountain route at hearings
VANCOUVER - Municipalities and residents in British Columbia are set to argue that the proposed route of the Trans Mountain pipeline expansion would damage sensitive ecosystems, harm public parks and trails and adversely impact homeowners. The National Energy Board will hold hearings starting Monday on the route that would run through Burnaby, Coquitlam and north Surrey. Burnaby is a major opponent of the project and has publicly battled Kinder Morgan Canada (TSX:KML). Burnaby [Read more]
Manitok Energy Inc. Provides Update on Corporate Activities, Creditor Protection and Restructuring Intention
CALGARY, Jan. 19, 2018 /CNW/ - Manitok Energy Inc. ("Manitok" or the "Corporation") provides the following update of corporate activities related to various corporate matters and its proposed restructuring plan. Under certain Collateralized Exchange Listed NotesTM ("CEL Notes") issued by Manitok, Manitok was required to make an interest payment on November 15, 2017 (the "November Interest Payment"). Due to ongoing liquidity issues and limits on its access to its operating facility with its [Read more]
U.S. oil drillers cut rigs for 2nd week in three -Baker Hughes
U.S. energy companies this week cut oil rigs for the second time in three weeks even though crude prices traded near their highest level since 2014. Drillers cut five oil rigs in the week to Jan. 19, bringing the total count down to 747, 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 only 551 rigs were active after energy companies [Read more]
NEB Hearings for North Montney Mainline Project
CALGARY, Jan. 19, 2018 /CNW/ - The National Energy Board (NEB) is holding public hearings on an application of NOVA Gas Transmission Ltd. (NGTL) to modify the North Montney Mainline Project. The hearings will take place over a two-week period and will include oral cross-examination and final arguments. The NEB will also hear oral traditional evidence from Indigenous participants. Date: Monday, January 22, 2018 – Friday, January 26, 2018 Time: 8:30 am (MST); Tuesday, February 6, [Read more]
Oil markets tightening as Venezuelan output collapses -IEA
Global oil markets are tightening quickly on falling supplies from Venezuela, which posted 2017’s biggest unplanned output fall and could see a further decline in 2018, the International Energy Agency (IEA) said on Friday. Debt and infrastructure problems cut Venezuela’s output in December to 1.61 million barrels per day (bpd), somewhere near a 30-year low. That helped oil prices climb above $70 per barrel in early January, their highest level in 3 years. “The general perception that the [Read more]