A U.S. regulator's preliminary investigation into the biggest oil pipeline spill this year has raised a red flag that could trigger an extensive and costly inspection of tens of thousands of miles of underground energy lines. The 5,000-barrel leak on TransCanada Corp's Keystone pipeline on Nov. 16 in South Dakota might have stemmed from damage caused by a weight put in place when it was built in 2008, the Pipeline and Hazardous Materials Safety Administration said in a report published on [Read more]
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An app-happy world values convenience over infrastructure, and we’re doomed if we don’t reverse that
A man must stand on the side of a mountain a very long time with his mouth open before a roast duck flies into it – Chinese (I think) proverb One fine summer day when I was a kid there was a power outage that impacted a sizeable chunk of the eastern parkland region of my home province. A cat had gotten into one of the larger central power substations, whereupon it apparently completed a circuit of some kind and used up all its nine lives in a brief but no doubt spectacular blaze of glory. [Read more]
Marquee Energy Ltd. Announces Credit Facility Amendment
CALGARY, Dec. 1, 2017 /CNW/ - Marquee Energy Ltd. ("Marquee" or the "Company") (TSXV: "MQX") announces that its lender has completed their semi-annual review of the Company's credit facility. As part of such review, the credit facility remains at $12 million, however draws are capped at $8.5 million with special approval required to access the remaining $3.5 million. The Company's credit facility remains undrawn at the date of this press release except for letters of credit of $0.7 [Read more]
Pengrowth Receives Continued Listing Standard Notification From the New York Stock Exchange
CALGARY, Alberta, Dec. 01, 2017 (GLOBE NEWSWIRE) -- Pengrowth Energy Corporation (NYSE:PGH) (TSX:PGF) today announced that it received notification on December 1, 2017 from the New York Stock Exchange (NYSE) that Pengrowth is no longer in compliance with one of the NYSE’s continued listing standards resulting from the average closing price of Pengrowth’s common stock being less than US $1.00 per share over a consecutive 30 trading-day period. Non-compliance with the NYSE's price listing [Read more]
Canada Weekly Rig Count Up 7 to 222
Western Canada’s fleet of drilling rigs went up by 7 to the current count of 222 actively drilling rigs according to data collected by Baker Hughes for the week of December 1st. From one week ago, Alberta rig counts increased from 153 to 162, the Saskatchewan rig count remained at 32. Oil drilling went up 4 to 111; gas rigs went up 3 to 111. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. drillers add oil rigs for 2nd week in a row -Baker Hughes
U.S. energy companies this week added oil rigs for a second week in a row as crude prices traded near their highest levels since the summer of 2015 as major oil producing countries extended a global deal to limit supply. Drillers added two oil rigs in the week to Dec. 1, bringing the total count up to 749, the highest since September, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. U.S. producers applauded Thursday's decision by the [Read more]
OPEC, Russia have done their bit, now it’s the turn of U.S., China: Russell
The Organization of the Petroleum Exporting Countries and its allies are taking a multi-layered bet that global oil dynamics will work in their favour by extending their crude oil production cuts until the end of 2018. The group met market expectations by extending the combined 1.8 million barrels per day (bpd) of output cuts from their previous expiry of March next year at their meeting in Vienna on Thursday. A commitment to exit the agreement gradually so as not to shock the market also [Read more]
MSL Land Services Once Again Offers Free Crown Sales
MSL Land Services is offering the use of our name for confidential bidding at Alberta Crown Sales in December and January. As an added bonus the first client to post a bid and correctly name the Santa Clause in our Ad will win a pair of tickets to a Calgary Flames game. Click here to view more information Please contact Rob Gunn rob@mslland.ca 403-441-1020 or Patrycia Payne patrycia@mslland.ca 403-441-1914 for more information. www.mslland.ca [Read more]
MEG Energy Board of Directors appoints Daniel Farb to the Board
CALGARY, Dec. 1, 2017 /CNW/ - MEG Energy Corp. (TSX:MEG) announced today the appointment of Daniel S. Farb to its board of directors. Mr. Farb, a Canadian citizen, is a Managing Director of Highfields Capital, a Boston-based investment firm that manages over US$12 billion on behalf of endowments, foundations, pension funds and other institutional investors and is MEG's second largest shareholder. He joined Highfields in 2001 and is a Partner on the investment team, focusing primarily on [Read more]
MEG Energy announces 2018 capital investment plan supporting production to 100,000 bpd, sets the stage for continued growth in 2019
All financial figures in Canadian dollars ($ or C$) unless otherwise noted CALGARY, Dec. 1, 2017 /CNW/ - MEG Energy Corp. (TSX:MEG) announced today its 2018 capital investment plan and operational guidance. Highlights include: A 2018 capital budget of $510 million, 24% of which is directed towards the completion of the Phase 2B eMSAGP growth project, 20% towards an expansion of the pilot program involving the company's proprietary eMVAPEX technology and positioning the company to grow [Read more]