EDMONTON - Alberta Premier Rachel Notley is to go on tour later this month to stump for the Trans Mountain pipeline, but is resisting opposition calls to wield a big stick against its opponents. Notley is to speak in Toronto, Ottawa, Vancouver, Calgary and Edmonton over the next three weeks on the importance of the pipeline expansion to the British Columbia coast through Burnaby. The $7.4-billion Kinder Morgan Canada (TSX:KML) project is to expand an existing pipeline so Alberta [Read more]
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Vital Energy Inc. Pennant Project, S.W. Saskatchewan – Project Update
CALGARY, Alberta, Nov. 06, 2017 (GLOBE NEWSWIRE) -- Vital Energy Inc. (“Vital”) announces that the funding for the drilling and completion costs for the first well in the previously announced Phase 1 earning well drilling program has been advanced by Cerus Energy Corp. (“Cerus” “CEA”) (TSX-V:CEA) to Vital. Drilling of the first well (UWI: 91/14-15-018-17W3M) is expected to commence on or before November 14, 2017. The primary target is medium gravity (21 degree) oil from the Upper Shaunovan [Read more]
Who pays for all this stuff? Green energy, debt, and our way of life – we can’t have it all
One of the biggest changes of current times, beyond technology or communications, has been the amazing progress of our standard of living. A fundamental shift has occurred in the way we acquire the necessities of life, and even how we define what those necessities are. My ten-year-old son says his worst nightmare is no WiFi. The rest of it is just a given; if you want food well duh, the grocery store is full of it. Any other device he can conceive of is a google search away. There is no value in [Read more]
Kuwait’s PIC signs contract with U.S. Jacobs for plant in Canada
Kuwait's Petrochemical Industries Co (PIC) has signed a contract with U.S. firm Jacobs Engineering to carry out engineering and design work for a planned polypropylene plant it co-owns in Canada, Kuwait's state news agency reported on Saturday. Kuwait and its neighbours including Saudi Arabia are expanding their petrochemicals footprint abroad, offering them a diversified feedstock for their growth in the sector. Canada Kuwait Petrochemical Corp. (CKPC), a joint venture between PIC, [Read more]
Pengrowth Reaches Agreement for Sale of Its Quirk Creek Sour Gas Assets
CALGARY, ALBERTA--(Marketwired - Nov. 3, 2017) - Pengrowth Energy Corporation (TSX:PGF)(NYSE:PGH) today announced that it has entered into an agreement for the sale of its Quirk Creek assets in Southern Alberta for total cash consideration of $6.5 million, subject to customary adjustments. The sale includes the Quirk Creek sour gas plant and associated gathering systems related to the production of sour gas and liquids. Quirk Creek generated average daily production of approximately 1,900 [Read more]
Canada Weekly Rig Count Up 1 to 192
Western Canada’s fleet of drilling rigs increased by 1 to the current 192 actively drilling rigs according to data collected by Baker Hughes for the week of November 3rd. From one week ago, Alberta rig counts increased from 136 to 139, the Saskatchewan rig count decreased from 25 to 23. Oil drilling went up by 4 to 100; gas rigs went down 3 to 91. View a full breakdown of western Canada’s rig activity. [Read more]
Pengrowth Announces Closing of $150 Million Swan Hills Asset Sale
CALGARY, ALBERTA--(Marketwired - Nov. 3, 2017) - Pengrowth Energy Corporation (TSX:PGF)(NYSE:PGH) is pleased to report that it has closed the previously announced sale of its remaining Swan Hills assets in North Central Alberta for total cash consideration of $150 million, before customary closing adjustments. The closing of the sale brings Pengrowth's year to date disposition proceeds to nearly $1.0 billion, which has allowed the Company to materially reduce its outstanding debt. Since [Read more]
‘They are overreaching extensively’: Notley wants Trans Mountain delays dismissed
CALGARY - Alberta Premier Rachel Notley says she wants the National Energy Board to move quickly to remove roadblocks on the Trans Mountain pipeline expansion project. The City of Burnaby, B.C., hasn't issued necessary permits to allow Kinder Morgan Canada Ltd. (TSX:KML) to expand its pipeline from the Edmonton area to a tank farm and port in Burnaby. Trans Mountain wants the board to clear the way for work to begin and Notley shares that view. "We are going to push very [Read more]
U.S. oil rig count falls by most in week since May 2016 -Baker Hughes
U.S. energy companies cut eight oil rigs this week, the biggest reduction since May 2016, extending a drilling decline that started over the summer when prices slipped below $50 a barrel. The oil rig count fell to 729 in the week to Nov. 3, the lowest level since May, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. The rig count, an early indicator of future output, is still much higher than a year ago when only 450 rigs were active [Read more]
Saskatchewan applies for intervener status on Trans Mountain pipeline hearing
REGINA - The Saskatchewan government says it has applied for intervener status in National Energy Board hearings on the Trans Mountain pipeline project. Justice Minister Don Morgan says the province argues the interprovincial pipeline has already been approved and shouldn't be held up by a municipality. The city of Burnaby, B.C., hasn't issued necessary permits to allow Kinder Morgan Canada Ltd. (TSX:KML) to expand its pipeline from the Edmonton area to a tank farm and port in [Read more]