(Reuters) - U.S. crude oil stockpiles fell for a fourth straight week with the biggest slump in supplies at the Cushing, Oklahoma, hub in eight years, even as crude output hit another weekly record, the Energy Information Administration said on Wednesday. Gasoline inventories, meanwhile, soared far more than expected, even as refining rates slipped. Crude inventories fell 5.1 million barrels in the week to Dec. 8, compared with analysts’ expectations for an decrease of 3.8 million barrels. [Read more]
Headlines
Hemisphere Energy Provides Production and Operational Updates
TSX-V: HME - VANCOUVER, Dec. 13, 2017 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") is pleased to announce updates on its corporate production and highlights from its recent fall development program. Production Update Following Hemisphere's fall drilling program in Atlee Buffalo, field-estimated corporate production has averaged approximately 950 boe/d (95% oil) over the last two weeks, representing a 40% increase over the Company's third-quarter [Read more]
TransCanada clashes with pipeline opponents at Nebraska hearing
Opponents of TransCanada Corp's proposed Keystone XL oil pipeline argued on Tuesday that regulators in Nebraska had no authority to approve the line's "alternative" path through the state and that the project should be considered dead. The Nebraska Public Service Commission issued an approval for the line to pass through the state in late November, removing what appeared to be the last big regulatory obstacle for the long-delayed project, which has been backed by President Donald [Read more]
Marksmen Announces Proposed Private Placement
CALGARY, Alberta, Dec. 12, 2017 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (“Marksmen” or the “Company”) (TSX-V:MAH) (OTCQB:MKSEF) announces that it plans to complete a non-brokered private placement of up to 3,000,000 units (the “Units”) of Marksmen at a price of $0.15 per Unit for aggregate gross proceeds of up to $450,000 (the “Offering”). There is no minimum Offering. The Units will be comprised of one (1) common share (“Common Share”) and one-half of one (1/2) share purchase warrant [Read more]
Enbridge defends decision to sell onshore renewables as climate action increases
CALGARY - Enbridge defended its plan to sell its onshore renewable assets Tuesday on a day that saw major climate change commitments emerge from a conference in Paris. Speaking at an investor conference in New York, company CEO Al Monaco said the sell-off made sense for now, but that it didn't mean any fundamental shift for Enbridge away from renewables. "We still believe in the notion that we are transitioning to a lower carbon future," said Monaco. The company has, [Read more]
New Oil and Gas Jobs From BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Dec. 12 Payroll Administrator STEP Energy Services Blackfalds Dec. 12 Junior Plant Operator (Waste Facility) Roska DBO Valleyview Dec. 12 4th Class Power Engineer Roska DBO Peace River Dec. 11 QA/QC [Read more]
Enbridge says Line 3 pipeline project operational date uncertain
The start date for Enbridge Inc's C$8.2 billion ($6.52 billion) Line 3 pipeline replacement project is uncertain and could be as late as November 2019, the company said on Tuesday. The Alberta-Wisconsin Line 3 and other North American energy infrastructure projects are facing increasing opposition from environmentalists, aboriginal groups and local governments. The company has said the new Line 3, which replaces an aging one, would start shipping oil in the second half of 2019. "Until [Read more]
Cardinal Energy Ltd. Announces Its 2018 Capital Budget and Monthly Dividend for December
CALGARY, Alberta, Dec. 12, 2017 (GLOBE NEWSWIRE) -- Cardinal Energy Ltd. (TSX:CJ) ("Cardinal" or the "Company") announced today that its Board of Directors has approved a capital expenditure budget for 2018 that focuses on maintaining a sustainable dividend and development of our existing asset base. The 2018 capital budget is designed to achieve significant growth in adjusted funds flow per share and maintaining the Company's annualized dividend at $0.42/share. Cardinal would also like to [Read more]
Forties pipeline outage is a gift to U.S. oil exporters, others: Russell
The shutdown of Britain's largest crude oil pipeline is an early Christmas gift to U.S. exporters shipping to Asia, and a complication for Middle Eastern and African producers seeking to maintain market share in the world's top importing region. The Forties Pipeline System, which carries about 450,000 barrels per day (bpd) from the North Sea to Scotland, may be closed for several weeks for unscheduled repair work, operator Ineos said on Monday. Forties crude is the largest of the five [Read more]
Canadian Natural Resources Limited Announces Management Promotions
CALGARY, ALBERTA--(Marketwired - Dec. 12, 2017) - Canadian Natural Resources Limited ("Canadian Natural" or the "Company") (TSX:CNQ)(NYSE:CNQ) today announces a number of management promotions positioning it for the continued evolution of growth in both our long life, low decline assets and our low capital exposure assets. These changes strengthen Canadian Natural's ability to deliver the next stage of value growth. One of Canadian Natural's many strengths is our strong and deep leadership [Read more]