HOUSTON - Exxon Mobil Corp plans to invest billions of dollars in the United States due in part to recently approved corporate tax rate cuts, the company’s chief executive said on Monday. Darren Woods, head of the world's largest publicly traded oil producer, said in a blog post on the company's website that Exxon expects to spend $50 billion in U.S. projects over the next five years. The company also is "actively evaluating" projects now in planning stages as a result of new tax and [Read more]
Headlines
Why Canada is the next frontier for shale oil
CALGARY, Alberta (Reuters) - The revolution in U.S. shale oil has battered Canada’s energy industry in recent years, ending two decades of rapid expansion and job creation in the nation’s vast oil sands. Now Canada is looking to its own shale fields to repair the economic damage. Canadian producers and global oil majors are increasingly exploring the Duvernay and Montney formations, which they say could rival the most prolific U.S. shale fields. Canada is the first country outside the [Read more]
Saudi-Russian oil market collaboration – two wily media manipulators’ farcical drama should give pause for thought
Foreign policy is generally a pretty staid business. Things move slowly and cautiously because a lot is at stake, and rash moves can have huge repercussions. Some, however, utilize that cautiousness for tactical advantage, and two of the very best have now teamed up. Of all the instability in the world, you’d think the poster child would be Donald “The Walking Force Majeure” Trump, but his ability to fully flex his considerable craziness is marginally (but effectively) restrained by the US [Read more]
Upcoming CAPL Courses and Lunch & Learns
Here is the upcoming list of courses offered by CAPL. For more information, click on a course link below or visit landman.ca Date Course Category Status Feb 06,07 2018 1990 and 2015 CAPL Operating Procedures (2 Day) Agreements and Contractual Issues postponed Feb 13 2018 British Columbia First Nations Process Lunch and Learn (PSL®) Surface and Mineral open Feb 14 2018 Negotiations: The Essential Skill for Landmen Negotiations and Business [Read more]
Prairie Provident Announces 2017 Year-End Reserves and 2018 Budget and Posts Updated Presentation
CALGARY, Alberta, Jan. 29, 2018 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to announce the results of our independent 2017 year-end reserves evaluation and to provide our 2018 budget and guidance. In 2017, Prairie Provident focused on repositioning its asset portfolio by selling non-core gas producing properties and buying oil-weighted properties in our core areas, in concert with postponing short-term [Read more]
Suncor Energy transitions to continuous operations at Fort Hills
CALGARY, ALBERTA--(Marketwired - Jan. 29, 2018) - Suncor today announced that the Fort Hills project is continuing its steady ramp up of production following the safe startup of secondary extraction on Jan. 27, 2018. Fort Hills, which is located approximately 90 kilometres north of Fort McMurray, has a capacity of approximately 194,000 barrels per day (bbls/d), approximately 103,000 bbls/d net to Suncor. As expected, the first of three trains from secondary extraction is now online and [Read more]
Blackstone Industrial Services Expands BHGE Relationship
Calgary, AB - Blackstone Industrial Services (Blackstone), a leading Canadian critical rotating equipment services company, has expanded its role in support of its customers and BHGE. As an Authorized Service & Sales Channel of Baker Hughes, a GE company (BHGE), Blackstone scope has expanded to support parts, service and repairs for legacy products like its AC compressor and Rotoflow turboexpander for all of Canada. Blackstone will handle distribution and sales for all western Canadian [Read more]
TransGlobe Energy Corporation Announces 2017 Year-End Reserves
CALGARY, Alberta, Jan. 29, 2018 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (“TransGlobe” or the “Company”) (TSX:TGL) (NASDAQ:TGA) today announces its 2017 year-end reserves. All dollar values are expressed in United States dollars unless otherwise stated. EXECUTIVE SUMMARY Total proved (“1P”) gross reserves of 27.6 million barrels oil equivalent (“MMboe”) (YE 2016: 29.9 MMboe) representing a 2.3 MMboe or 8% decrease from year-end 2016 primarily due to production of ~5.7 MMboe [Read more]
‘Energy hunters’: Bitcoin miners search for cheap, innovative energy sources
CALGARY - For most Canadians, Drumheller conjures up images of dinosaur bones and ancient fossils, but entrepreneur Sean Clark's expedition in the southern Alberta town is focused on a very current obsession: Bitcoin. The CEO of Hut 8 Mining Corp. recently set up his company in the self-proclaimed 'dinosaur capital of the world' because its cheap electricity rates give him the biggest margins for his Bitcoin mining business. The cryptocurrency boom is pushing Canadian companies [Read more]
Husky Energy to Resume SeaRose Operations
CALGARY, Alberta, Jan. 26, 2018 (GLOBE NEWSWIRE) -- The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) today announced it has lifted the notice to suspend operations for the SeaRose floating production, storage and offloading (FPSO) vessel and associated facilities. The January 17, 2018 C-NLOPB notice to suspend operations resulted from an incident in March 2017 where Husky Energy (TSX:HSE) departed from its agreed Ice Management Plan by not disconnecting the vessel and [Read more]