CALGARY - About 400 jobs are expected to disappear at Suncor Energy Inc.'s oilsands mines in northern Alberta as it deploys driverless ore-hauling trucks to replace the ones humans operate now. "We have about 500 roles that will get eliminated through this and we're going to add about 100. So the net change in our workforce is about 400 positions," chief operating officer Mark Little said in an interview Wednesday. The company has been testing the 400-tonne capacity Komatsu [Read more]
Headlines
OPEC vs. US shale, where do oil prices go?
In a perfect Goldilocks world there would be a perfect price; not too hot ($80 per bbl), not too cold ($40 per bbl) but just right ($60 per bbl). We all know that forecasting price is a fool’s game and most prognostications become obsolete the moment they are written. Why? Because the production of oil and gas does not operate in an unfettered universe where instantaneous production and demand are in sync. Part of the reason for is because of varying project timelines from long lead times [Read more]
Calgary Seminar: US tax reform is here – is now the time to give up your US citizenship?
Complimentary seminar presented by: Alexander Marino JD, LLM (US TAX) On Dec. 22, 2017, President Trump signed into law the biggest US tax reform bill in 31 years, changing the lives of Americans at home and abroad. Many US residents will see an immediate benefit on their 2018 tax return, but for US expats and green card holders living in Canada, things may have changed for the worse. The question of whether now is the right time to renounce your US citizenship is never more prescient. If [Read more]
Oil could struggle to top $70 as U.S. output offsets OPEC cuts
(Reuters) - Oil prices are unlikely to advance much higher than $70 a barrel in 2018, with the market caught between the opposing forces of OPEC-led production cuts and surging U.S. output, a Reuters poll showed on Wednesday. The survey of 34 economists and analysts forecast that Brent crude will average $62.37 a barrel in 2018, up from the $59.88 forecast in the previous monthly poll. “Steady demand growth, a clear commitment to supply restraint by key OPEC producer Saudi Arabia and [Read more]
Fastest Access to Energy Resources – in Any Soil Condition.
Access to Energy Resources Is Never Easy. Energy sites are often located in remote and difficult to access locations with undeveloped roads, poor soil conditions and limited road building resources—and in environments with extreme temperatures and weather conditions. For over 35 years, energy companies have relied on Presto’s GEOWEB® 3D soil confinement system for building access roads and pads year round to their oil & gas, wind and mining sites—even in some of the toughest site and [Read more]
Canadian drillers moving rigs south to chase better prospects in Texas oilfields
CALGARY - A growing number of Canadian drilling rigs are being moved south of the border to take advantage of brighter prospects for oil and gas in the United States — and observers say it's unlikely they will ever return home. A week ago, Calgary-based Akita Drilling Ltd. announced it would enter the U.S. market by moving a rig from Western Canada into the prolific Permian Basin in West Texas. It said it is looking at moving more rigs south. Meanwhile, Calgary-based Trinidad [Read more]
Suncor Energy implements first commercial fleet of autonomous haul trucks in the oil sands
CALGARY, ALBERTA--(Marketwired - Jan. 30, 2018) - Suncor today announced it will proceed with the phased implementation of autonomous haulage systems (AHS) at company-operated mines, starting with the North Steepbank mine. Over the next six years, the company expects to deploy more than 150 autonomous haul trucks in the full program, which will be one of the largest investments in electric autonomous vehicles in the world. Following thorough evaluations over the past four years, the company [Read more]
BlackPearl Announces Onion Lake Construction Update, Provides Q4 Production Data and 2017 Year-End Reserves and Contingent Resource Estimates
CALGARY, ALBERTA--(Marketwired - Jan. 30, 2018) - BlackPearl Resources Inc. ("we", "our", "us", "BlackPearl" or the "Company") (TSX:PXX) (OMX:PXXS) is pleased to provide a construction update on its Onion Lake thermal expansion project and Q4 2017 production information, as well as, announce the results of its 2017 independent year-end oil and gas reserve and resource evaluation. Highlights and accomplishments included: Construction of the Phase 2 expansion of the Onion Lake thermal [Read more]
Emerald Bay Provides Update on Kuhn Wells
Calgary, Alberta (FSCwire) - Emerald Bay Energy Inc. (TSX Venture: EBY) (the “Company” or “Emerald Bay”) announced today that the Company has completed the initial phase of production testing on the Kuhn 4 well at the Company's Wooden Horse project in Southwest Texas. This phase involved perforating only a one foot interval in the Buda formation in order to test the inflow of oil and the potential inflow of formation water. The well has been producing a continuous oil cut for twenty one [Read more]
Connacher Announces Bitumen Royalty Transaction, Full Repayment of Interim Revolving Credit Facility and Extension of CCAA Stay
CALGARY, Jan. 30, 2018 /CNW/ - Connacher Oil and Gas Limited ("Connacher" or the "Company") is pleased to announce that it has received approval from the Court of Queen's Bench of Alberta (the "Court") in its proceedings under the Companies' Creditors Arrangement Act ("CCAA") to grant a bitumen royalty to Burgess Energy Holdings, L.L.C. ("Burgess") on all of the lands (the "Royalty Lands") containing bitumen together with the oil sands rights and interests owned by Connacher (the "Royalty") for [Read more]