From Bloomberg What’s worse: Too much oil, or too much gasoline? The government of Alberta, weighing the potential of a new refinery for the province, may be on its way to finding out. In 2018, surging crude production in the Canadian province ran into limited space on export pipelines, creating bottlenecks and sending the price of local oil to record
Calgary-Based Blackbird Energy Inc. (stock ticker: BBI) announced record financial and operational results for the quarter ended October 31, 2018. Highlights from the Q1 2019 Results: Petroleum and Natural Gas Sales $7.4 million ($46.31/boe) of petroleum and natural gas sales during the three months ended October 31, 2018. Represents a 186% increase from the comparative three months ended October
Alberta-based Blackbird Energy Inc. (stock ticker TSX-V: BBI) shareholders have approved the strategic combination of Blackbird and Pipestone Oil Corp. by a majority of over 99% of votes cast. Blackbird is focused on the condensate and liquids-rich Montney fairway at Pipestone/Elmworth, near Grande Prairie, Alberta. At a special meeting, its shareholders also approved the continuance of Blackbird from British Columbia
From Financial Post Pembina is looking to reduce its wholly owned Jordan Cove LNG project to between 40% and 60% CALGARY — Pembina Pipeline Corp. officially delayed an investment decision on a $3.5-billion petrochemical facility in Alberta on Monday, but analysts say they’d be shocked if the company didn’t eventually build the project. The Calgary-based pipeline company announced a $1.6-billion
From Bloomberg Alberta’s plan to boost crude prices through mandatory production cuts is working a little too well. Just over a week after Premier Rachel Notley announced that oil producers will be required to curtail output by 8.7 percent, the price of heavy Canadian crude has more than doubled, in some cases rendering Western Canadian Select too expensive to ship
From Bloomberg Alberta’s government is seeking expressions of interest for adding crude-refining capacity as the oil-rich province works to extract more value from its resources. The province will accept submissions until Feb. 8 and will consider greenfield projects and expansions at existing sites. At this point, the government is only seeking a sense of the projects companies are considering and
From Edmonton Journal The province is in the process of notifying the 25 companies that will have to make production cuts to reduce the oil differential, says Alberta’s energy minister. “Right now we’re working with each individual company,” said Energy Minister Marg McCuaig-Boyd on Wednesday. “There wasn’t agreement before but I think companies realize these are extraordinary times.” Premier Rachel
Suncor Energy provides update following Government of Alberta’s decision to cut oil production
Cut will remove 375 MBOPD, or 8.7% OPEC isn’t the only group planning an oil production cut for 2019. Alberta Premier Rachel Notley announced temporary production cuts on Sunday as part of an effort to shore up pricing for ailing oil producers in her province. Canadian producers are grappling with punishing differentials, with the WCS-WTI differential reaching a staggering $50/bbl
From Bloomberg Alberta is working to buy rail cars to help ship more crude as pipeline bottlenecks have the oil-rich province grappling with historic low prices. The province has engaged a third party to negotiate the purchases and a deal may be struck “within weeks,” Premier Rachel Notley said Wednesday in a speech in Ottawa. The province’s costs will be
Higher production volumes, lower expenses, continued debt reduction = formula for success Bellatrix Exploration (ticker: BXE) increased its production volumes in Q3. Production volumes averaged 33,530 BOEPD (72% natural gas weighted). The company is focused chiefly on the Spirit River liquids rich natural gas play in Western Alberta. The company said production expenses in the third quarter averaged $7.71/BOE, down
Nov 1, 2018 CALGARY, Nov. 1, 2018 /CNW/ – Advantage Oil & Gas Ltd. (“Advantage” or the “Corporation”) is pleased to announce the appointment of Mr. Michael Belenkie to the position of Chief Operating Officer. Mr. Belenkie has over 20 years of experience in the oil and gas industry in a variety of senior management roles which included a diversity of both technical and
