Investment in Canada's oil and gas industry is expected to fall again this year as higher taxes and regulatory uncertainty persuade investors to spend elsewhere, says the head of a group that represents Canada's oil and gas industry. "We need some urgent action, now," said Tim McMillan, CEO of the Canadian Association of Petroleum Producers, citing in particular recently reduced corporate taxes and regulatory burden by the U.S. under President Donald Trump. "We've seen other [Read more]
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Fellow citizens on the coasts: 50 million petroleum barrels move safely through global marine terminals every day; Canada is as capable as anyone
When I was a kid, my dad came home from his forestry job one day with an eye injury. A tree branch had attacked him and he showed us stitches on his eyeball. I was very young, but I still remember instantly feeling clammy and faint. For the rest of his life every time I looked him in the eye the scar was all I could see and I could feel myself turning pale, which, now that I think about it, may have been fairly annoying for him. For the rest of my life I’ve had random episodes of nauseousness [Read more]
Encana announces TSX acceptance of normal course issuer bid
CALGARY, Alberta, Feb. 26, 2018 (GLOBE NEWSWIRE) -- Encana Corporation (Encana) (TSX:ECA) (NYSE:ECA ) announced today that the Toronto Stock Exchange (TSX) has accepted its notice of intention to commence a normal course issuer bid (NCIB) through which Encana may spend up to US$400 million to purchase up to 35,000,000 common shares during the 12-month period commencing February 28, 2018 and ending February 27, 2019. The number of shares authorized for purchase represents approximately 3.6 [Read more]
Marksmen Announces Update on Leaman 1-H Horizontal Well
CALGARY, Alberta, Feb. 25, 2018 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (TSX-V:MAH) (OTCQB:MKSEF) (“Marksmen” or the “Company”) and its wholly owned subsidiary, Marksmen Energy USA, Inc. are pleased to provide the following update on its Leaman 1H Clinton Sandstone Horizontal well in Hocking County, Ohio. The well is being drilled in conjunction with our working interest partners and is operated by Hocking Hill Energy (“HHE”). Marksmen is pleased to announce that the drilling has been [Read more]
Supplier to NHL’s Calgary Flames breathes again as B.C. wine ban suspended
VICTORIA - The operators of a small British Columbia winery that landed a big contract to be the official wine of the National Hockey League's Calgary Flames are relieved their Cabernet Merlot and Pinot Gris are no longer caught in a face off between two provinces. Christa-Lee McWatters said wine from her Encore Vineyards in Summerland started shipping to Alberta moments after Premier Rachel Notley suspended a more than two-week ban on wine imports from B.C. "We knew that we had [Read more]
Notley says Alberta watching B.C. court bid closely, will get no free ride on it
EDMONTON - Alberta Premier Rachel Notley says she doesn't believe British Columbia's legal challenge to the Trans Mountain oil pipeline expansion has merit, but her government will be watching closely and won't give its neighbour a free ride on it. Notley said she's not sure the B.C. courts will make a ruling on the clearly established constitutional rule that the federal government has the final say on what goes into trans-boundary pipelines. She said if B.C. can't find traction [Read more]
Canada Weekly Rig Count Down 12 to 306
Western Canada’s fleet of drilling rigs went down 12 rigs to the current count of 306 actively drilling rigs according to data collected by Baker Hughes for the week of February 23rd. From one week ago, Alberta rig counts decreased from 222 to 209, the Saskatchewan rig count decreased from 67 to 66. Oil drilling went from 218 to 209; gas rigs went down from 100 to 97. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. oil rig count rises for fifth straight week
(Reuters) - U.S. energy companies added one oil rig this week, the fifth weekly increase in a row, as oil prices hovered at two-week highs. Drillers added one oil rig in the week to Feb. 23, bringing the total count up to 799, the highest level since April 2015, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Friday.That was the first time since June that drillers added rigs for five consecutive weeks. The U.S. rig count, an early indicator [Read more]
Return Energy Announces Casing of Second Well at Rycroft
CALGARY, Feb. 23, 2018 /CNW/ - Return Energy Inc. ("Return" or the "Company") (TSX-V: "RTN"), through its wholly-owned subsidiary, Winslow Resources Inc. ("Winslow"), is pleased to announce that drilling operations at its Rycroft 100/06-34-076-06W6/00 well have concluded and production casing has been run in the wellbore. The 06-34 well is a conventional (non-horizontal) step-out well to Winslow's recently announced (Feb.20, 2018) 100/14-27-076-06W6 well that has been cased as a potential [Read more]
Perpetual Energy Inc. Reports Strong Fourth Quarter and Year-End 2017 Financial and Operating Results
CALGARY, Feb. 23, 2018 /CNW/ - (TSX:PMT) – Perpetual Energy Inc. ("Perpetual", the "Corporation" or the "Company") is pleased to release its fourth quarter and year-end 2017 financial and operating results. A complete copy of Perpetual's audited consolidated financial statements, Management's Discussion and Analysis ("MD&A") and Annual Information Form for the year ended December 31, 2017 will be available through the Corporation's website at www.perpetualenergyinc.com and SEDAR at [Read more]