Within a week of graduating from the Southern Alberta Institute of Technology (SAIT), Don Patterson found himself on a Chevron Single Turbo Beaver and whisked off to Rainbow Lake. He had graduated from SAIT in the Spring of 1968, and was among four students that immediately landed a job at Chevron. As he sat on the plane, crammed between bags of groceries, a bag of potatoes on his lap, he was filled with excitement and ready to start his career as a rig supervisor for Chevron’s drilling [Read more]
Headlines
RMP Energy Announces Start-Up of its Elmworth Battery
CALGARY, Alberta, June 22, 2017 (GLOBE NEWSWIRE) -- RMP Energy Inc. (“RMP” or the “Company”) (TSX:RMP) is pleased to announce the recent successful commissioning and start-up of its 100% owned and operated Elmworth 2-23 oil battery and gas handling facility in the Elmworth (Gold Creek) field of West Central Alberta (the “2-23 Facility”). The 2-23 Facility is presently handling the initial crude oil and natural gas production from two (2.0 net) of RMP’s Middle Montney drilled wells (3-22-68-3W6M [Read more]
Imperial continues its commitment to deliver long-term shareholder value
CALGARY, June 22, 2017 /CNW/ - Imperial Oil Limited today announced it has received final acceptance from the Toronto Stock Exchange for a normal course issuer bid (NCIB) to repurchase up to three percent of its 846,530,905 outstanding common shares as of June 13, 2017, or a maximum of 25,395,927 shares during the next 12 months. This maximum will be reduced by the number of shares purchased from Exxon Mobil Corporation (ExxonMobil), Imperial's majority shareholder, as described below. The [Read more]
Bow River Energy Ltd. Closes Transformational Medium Oil and Midstream Acquisition in Provost, Alberta
CALGARY, June 22, 2017 /CNW/ - Bow River Energy Ltd. ("Bow River" or the "Company") is pleased to announce the closing of a transformational asset acquisition from a major integrated oil and gas company in the Provost area of Alberta. The assets include low-decline, medium-gravity oil producing assets, a large seismic database and a regional sour gas plant with an extensive associated gathering infrastructure. The assets integrate well with Bow River's existing oil assets, and provide a strong [Read more]
Enbridge to start Line 3 construction despite lack of key U.S. approval
CALGARY - Enbridge (TSX:ENB) says it will begin phased construction of the Canadian portion of its Line 3 pipeline project on Aug. 1, even though the American side is still awaiting regulatory approval. Spokeswoman Suzanne Wilton says about 600 contractor workers and up to 200 Enbridge staff are set to begin clearing land and installing pipe for the line which runs from central Alberta to Manitoba. About one-third of the Canadian route is expected to be completed this summer with [Read more]
Birchcliff Energy CEO Jeffrey Tonken on consequences of Alberta NDP’s and Trudeau Liberals to energy sector
Birchcliff Energy CEO Jeffrey Tonken spoke with BNN to discuss the ramifications of the increasing levels of taxation towards the energy industry from both the federal and provincial governments. Mr. Tonken compared the difference on the regulatory environment in Canada vs. the United States and how much more welcoming the US government is towards such a vital industry. WATCH: CEO Jeffrey Tonken on consequences of AB NDP Govt & Trudeau Liberals kicking our energy sector while it's down [Read more]
Cenovus facing tough market for critical asset sales
Cenovus Energy Inc's efforts to sell C$5 billion ($3.8 billion) of energy assets, already facing a rocky road because weak oil prices are depressing the appetite for deals, has become complicated by the surprise departure of its chief executive officer, fund managers said. Brian Ferguson's announcement on Tuesday that he will step down as CEO in October is the latest sign of tumult within Canada's oil sands industry, which has seen international oil majors dump $22.5 billion in assets this [Read more]
Oil headed for weakest first-half performance in two decades
Oil was mostly flat on Wednesday, after paring earlier losses, but was set for its biggest price drop in the first half of the year since 1997, a sign that investors are discounting evidence that major producers are sticking to a deal to cut output. August Brent crude futures LCOc1 were up 8 cents at $46.10 a barrel by 1258 GMT, having fallen earlier to seven-month lows at $45.53. U.S. crude futures CLc1 were up 14 cents at $43.65, having hit their lowest since September on Tuesday. So [Read more]
Oilsands through the hourglass: Defining moments that shaped an economic juggernaut
The Canadian oilsands industry is beset with environmental concerns and low crude prices. Nonetheless, production is expected to grow. The Canadian Association of Petroleum Producers estimates that oilsands output will reach 3.7 million barrels per day in 2030 from 2.4 million bpd last year. Some key dates in the history of the oilsands: 1719: A Cree man named Wa-Pa-Su presents an oilsands sample for trade at the Hudson's Bay Company to Henry Kelsey, who was the first recorded [Read more]
Oilsands pioneers recall big promise, big problems with industry’s first mine
FORT MCMURRAY, Alta. - The launch of Canada's first large-scale oilsands mine began on a cold and overcast September day in 1967, with speeches to a crowd of about 600 VIPs predicting incredible wealth would be unlocked from the massive energy resource in northern Alberta. But veteran employees of the Great Canadian Oil Sands project say that early promise was soon met with harsh challenges, including emergency shutdowns, labour strife, cold weather and biting insects. George [Read more]