VANCOUVER - Kinder Morgan Canada and other companies are working to keep some of the more than 200 wildfires burning across British Columbia away from their infrastructure, while a number of firms have suspended or reduced operations for the indefinite future. "At this time, I think that we're fine, but each day brings a new set of circumstances," said Steve Robertson, vice-president of corporate affairs at Imperial Metals Corp. (TSX:III). The company's Mount Polley open-pit [Read more]
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Pengrowth Enters Into Agreement for the Sale of Its Olds/Garrington Area Assets for $300 Million
CALGARY, ALBERTA--(Marketwired - July 11, 2017) - Pengrowth Energy Corporation (TSX:PGF)(NYSE:PGH) today announced that it has entered into an agreement with a private company owned by a large Canadian life insurance company for the sale of its Olds/Garrington area assets in Central Alberta for cash consideration of $300 million, before customary closing adjustments. The Olds/Garrington area assets are expected to generate 2017 average daily production of 13,875 barrels of oil equivalent per [Read more]
$100MM in Bonuses Paid for East Shale Basin Acreage!
Bonuses paid for Crown acreage in the East Shale Basin have exceeded $102MM since April 1, 2017! The East Shale Basin light oil play is garnering a lot of attention with recent drilling activity producing ever-improving results, which is driving up land prices north of $5000/ha. With several land sales in the near future, companies will want to reduce their learning curves to capitalize on this opportunity. Canadian Discovery used its extensive knowledge and expertise on the Duvernay to create a [Read more]
Oil rises on firm short-term demand outlook; overall market still weak
Oil prices edged up early on Tuesday, lifted in part by a strong demand outlook for the coming weeks, but overall market conditions remain weak on the back of ample supplies and a more subdued outlook for long-term demand. Brent crude futures were at $47.13 per barrel at 0147 GMT, up 25 cents, or 0.5 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures were at $44.64 per barrel, up 24 cents, or 0.5 percent. Traders said the uptick in prices was in part due to [Read more]
Fire extinguished at Syncrude oil sands plant -spokesman
A small fire broke out in a sulphur emissions reduction unit at the Syncrude oil sands plant in northern Alberta on Monday morning and was extinguished within two hours with no injuries to workers, a Syncrude spokesman said. Spokesman Leithan Slade said the unit was being assessed for damages and it was too early to tell if there would be any effect to Syncrude production. (Reporting by Nia Williams) [Read more]
Platts RigData: U.S. Land Rig Count Slowing But Still Growing
HOUSTON, July 10, 2017 /PRNewswire/ -- Platts RigData, a forecasting and analytics unit of S&P Global Platts, today announced the U.S. rig count for June 2017 was 1,055, up 29 (3%) from May 2017, and up 584 (124%) from June 2016. This rig count includes U.S. onshore, U.S. inland waters, and U.S. offshore Gulf of Mexico drilling rigs. June U.S. land rig count: 1,009, up 33 (3%) from the previous month and up 588 (140%) from June 2016. June U.S. inland waters and Gulf of Mexico rig [Read more]
Despite the proliferation of new hybrid vehicles, their sales numbers remain marginal
The second coming is upon us, or more appropriately in the auto world the third coming. Tesla’s legendary-before-its-been-seen Model 3 will find its way into a few customers’ hands later this month. The third of Tesla’s pure electric vehicle (EV) models – the first being the groundbreaking, heavy selling Model S; the second the futuristic, modestly selling Model X – has advance orders of 400,000 and a cult following akin to a new iPhone launch. Starry-eyed millennials, and a few genuine car [Read more]
Statoil drills dry wells off Newfoundland
Norway's Statoil and Canada's Husky Energy have hit dry wells in a prospect off Newfoundland for which they had high hopes, Statoil said on Monday. The companies have drilled two dry wells in the Flemish Pass geological basin, some 500 km (310 miles) east of Canada's Newfoundland and Labrador province. "These results are disappointing, as we had hoped to add additional optionality to the near-field area at Bay du Nord," Trond Jacobsen, Statoil's head exploration in Canada, said in a [Read more]
Sayer Energy Advisors: The Canadian Oil Industry Asset Sale Listing
Spend less time looking for deals and more time making them. Don’t waste time and money when you can have all the information at your fingertips for less than $40.00 a week! Imagine starting your week with all the available divestiture information emailed right to your desktop. This convenient report includes all the details you need to pursue a possible deal. The Canadian Oil Industry Asset Sale Listing ensures subscribers are up to date with current opportunities. Each weekly issue includes: [Read more]
Canada’s Desjardins may stop pipeline loans, cites environment
Canadian lender Desjardins is considering no longer funding energy pipelines, a spokesman said on Saturday, citing concerns about the impact such projects may have on the environment. Desjardins, the largest association of credit unions in North America, on Friday temporarily suspended lending for such projects and may make the decision permanent, spokesman Jacques Bouchard told Reuters by telephone. He said the lender would make a final decision in September. Dejardins, a backer of Kinder [Read more]