A proposed Canadian oil sands mine has split the country's indigenous people, compounding the challenges facing Prime Minister Justin Trudeau's government as it decides whether to approve the project. Teck Resources Ltd would build the C$20.6 billion ($15.76 billion) Frontier mine 110 kilometres (68 miles) north of Fort McMurray, Alberta, capable of eventually producing 260,000 barrels of crude oil per day. The mine, which would be one of the largest in Alberta's oil sands, requires federal [Read More…]
Headlines
Regina police arrest 14 union members during Co-op labour dispute
Regina's police chief says the city is being held "hostage" by a labour dispute between the Co-op Refinery and the union representing 700 of its workers. Evan Bray says officers arrested and charged 14 people with mischief yesterday after access was blocked to the plant. Unifor had announced it was going to prevent fuel trucks from leaving in an effort to shut down the facility. The union's national president, Jerry Dias, was among those arrested. Workers were locked out in early [Read More…]
U.S. natgas futures drop to 3-year lows on milder weather forecasts
U.S. natural gas futures fell to a fresh three-year low below $2 on Tuesday on forecasts for milder winter weather through early February than previously expected. Low gas prices are a boon to consumers who pay less to heat homes and businesses, but are painful for energy companies - like EQT Corp , the nation's biggest gas producer - forced to cut costs and reduce drilling activity to the lowest level in years. Front-month gas futures for February delivery on the New York Mercantile [Read More…]
Union head arrested in lockout at Canada’s Co-op Refinery
Police on Monday arrested the leader of Canada's largest private sector union and six others who joined workers blockading the Co-op Refinery in Regina, Saskatchewan, raising tensions in a six-week old industrial dispute. Federated Cooperatives Ltd (FCL), which owns and operates the refinery, locked out 800 workers on Dec. 5 in a dispute over pensions, but has kept western Canada's third-largest oil refinery operating with replacement workers and managers. The arrests came after Unifor, [Read More…]
Oil prices ease as supply risk concerns fade
Oil prices eased on Tuesday as investors appeared to shrug off earlier supply concerns following a force majeure declared by Libya on two major oilfields amid a military blockade. West Texas Intermediate crude futures were down 27 cents, or 0.48%, at $58.36 a barrel. Brent crude was trading down 36 cents, or 0.55%, at $64.78 per barre after rising to their highest in more than a week on Monday. "Every time we get a big geopolitical event, the market spikes up but everybody looks at that [Read More…]
Unleashing our economy: Rewarding energy workers and businesses- The Canadian Energy Industry in the 2020s with Pierre Poilievre
Pierre Poilievre has unique perspective on the current challenges facing the Canadian Energy Industry. He was born a year before the National Energy Program came into effect in Canada and grew up watching the impact of the Federal government’s destructive economic measures on the province of Alberta and on people’s livelihood. As a six term MP in Ottawa, he has had a ringside seat for government action (and inaction) as global competition for energy markets ramped up to a rapid pace by 2020. He [Read More…]
InPlay Oil Corp. Provides Operations Update and Announces 2020 Capital Budget
CALGARY, Alberta, Jan. 21, 2020 (GLOBE NEWSWIRE) -- InPlay Oil Corp. (“InPlay” or the “Company”) is pleased to announce that its Board of Directors has approved a $35 million Exploration and Development capital program for 2020. InPlay delivered another year of exceptional operational results while successfully responding to significant challenges facing the industry. The Company continued to leverage its proven track-record of drilling proficiency and operational expertise to set industry [Read More…]
Over 250 senior operations leaders from ATCO Group, ENMAX, Husky Energy, Air Liquide, Sherritt International, Suncor, Enbridge, Kinder Morgan, BC Hydro and more are confirmed to attend the 2020 OpEx in Energy, Chemicals & Resources Summit in Calgary this June 1-3
Over 250 senior operations leaders from ATCO Group, ENMAX, Husky Energy, Air Liquide, Sherritt International, Suncor, Enbridge, Kinder Morgan, BC Hydro and more are confirmed to attend the 2020 OpEx in Energy, Chemicals & Resources Summit in Calgary this June 1-3. The Operational Excellence in Energy, Chemicals & Resources Summit in Calgary is attended every year by over 250 heads of operations, operational excellence, HSE, maintenance and reliability operating in hazardous [Read More…]
Baytex Announces Proposed US$500 Million Private Placement Offering of Senior Notes
CALGARY, Alberta, Jan. 21, 2020 (GLOBE NEWSWIRE) -- Baytex Energy Corp. (“Baytex”) (TSX, NYSE: BTE) announced today that it intends to offer US$500 million aggregate principal amount of senior unsecured notes due 2027 (the "Notes") in a private placement offering (the “Offering”), subject to market and other conditions. The Notes will pay interest semi-annually in arrears. The final terms of the Notes will be determined at the time of pricing of the Notes. Baytex intends to use the net proceeds [Read More…]
Baytex Announces 2019 Year End Reserves and Preliminary Financial and Operating Results
CALGARY - Baytex Energy Corp. ("Baytex")(TSX, NYSE: BTE) announces its year-end 2019 reserves and 2019 fourth quarter and year-end preliminary unaudited financial and operating results (all amounts are in Canadian dollars unless otherwise noted). “Our production in 2019 exceeded the high end of our annual guidance with outstanding capital efficiencies in our development program. As a result, we generated $329 million of free cash flow and a 17% reduction in net debt. Each of our core properties [Read More…]
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