Post Tagged with: "Canada"

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Canada’s Proposed Bill C-69 Would Require Energy Project Environmental Assessments to Take Climate Change into Account

Bill gives cabinet and environment minister final power to approve or reject a project regardless of the findings of an environment assessment

In February 2018, Catherine McKenna, the federal Minister of Environment and Climate Change, introduced Bill C-69. The bill …

Source: Society for Human Resource Management

Canada’s Hipster Economics in the Hot Seat

Canada’s 30% minimum wage hike, rocketing electricity costs and the U.S. tax cuts to corporations have undercut the former advantage of locating manufacturing plants in Canada

From Bloomberg/Toronto Star

The brass at Martinrea International Inc. ran the numbers, and they …

May 30, 2018 - 11:41 am Canada, Closing Bell Story‎, Energy News
Warburg Pincus Invests $138 Million in Canadian E&P

Warburg Pincus Invests $138 Million in Canadian E&P

Calgary-based E&P Artis Exploration Ltd. closed a CDN$180 million (USD$138 million) growth equity investment from Warburg Pincus.

Founded in 2015, Artis is focused on the Duvernay East Shale Basin of Western Canada, where the company holds a contiguous acreage position …

Vermilion Energy Closes $1.4 Billion Acquisition

Vermilion Energy Closes $1.4 Billion Acquisition

Vermilion Energy Inc. (ticker: VET) closed the acquisition of Spartan Energy Corp. for a total consideration of $1.40 billion, comprised of $1.23 billion in Vermilion shares plus the assumption of approximately $175 million in debt.

Vermilion acquired all of the …

U.S. Rig Count Heads Up to 1,059

U.S. Rig Count Heads Up to 1,059

Baker Hughes released its weekly rig count today. The total U.S. number of rigs went up 13, ending the week of May 25, 2018 at 1,059. A year ago at this time there were 881 U.S. rigs at work.

Texas …

Strategic Oil & Gas to Present at EnerCom’s The Oil & Gas Conference® August 19-23, 2018

Strategic Oil & Gas to Present at EnerCom’s The Oil & Gas Conference® August 19-23, 2018

Strategic Oil & Gas Ltd. (ticker: SOG) is an oil and gas company based in Calgary, Canada.

In the first quarter of 2018, Strategic drilled two horizontal Muskeg development wells at west Marlowe in northwestern Alberta. The wells commenced production …

Lack of Pipelines Will Cost Canadian Energy Sector $15.8 Billion in 2018: Fraser

Lack of Pipelines Will Cost Canadian Energy Sector $15.8 Billion in 2018: Fraser

Inadequate pipeline capacity to U.S. and no pipelines to move oil to tidewater ports forces Canadian oil to sell at a big discount

Canada’s shortage of pipeline capacity is continuing to drive down the price of Canadian oil and it’s …

Courtesy of Encana

Encana Sees 30% Growth within Cash Flow

Encana Corporation (ticker: ECA) opened 2018 with Q1 net earnings of $151 million. This compares to Q1 2017’s net earnings of $431 million. Cash generated from operating activities reached $381 million, which compares to $106 million in Q1 2017.

Encana’s …

Quantifying the Effects of Canada’s Takeaway Trouble

Quantifying the Effects of Canada’s Takeaway Trouble

Canada’s PSAC Cuts Canadian Drilling Activity Forecast for 2018

Without adequate pipeline capacity or forthcoming export projects for Canada’s crude oil and natural gas, there is a tough energy economy in Canada that is going to be taking an economic …

ConocoPhillips Produces 1,224 MBOEPD, Nets $0.9 Billion

ConocoPhillips Produces 1,224 MBOEPD, Nets $0.9 Billion

ConocoPhillips Company (ticker: COP) reported first quarter 2018 earnings of $0.9 billion, or $0.75 per share. This compares to first quarter 2017 earnings of $0.6 billion, or $0.47 per share.

First quarter production, excluding Libya, was 1,224 MBOEPD. Production from …

Cenovus Expects Full Year Oil Sands Volume to be 364,000-382,000 Barrels Per Day in 2018

Cenovus Expects Full Year Oil Sands Volume to be 364,000-382,000 Barrels Per Day in 2018

Cenovus Energy Inc. (ticker: CVE) posted a net earnings loss from continuing operations of $914 million, or $(0.74) per diluted share for Q1 2018, compared to Q1 2017 recorded a net profit of $211 million, or $0.25 per share.

“The …

Apache Corp., Strategic Oil & Gas Announce Executive Changes

Apache Corp., Strategic Oil & Gas Announce Executive Changes

Apache Corporation (ticker: APA) said that the EVP of corporate reservoir engineering, Kregg Olson, plans to retire on August 1, 2018.

Apache CEO and President John J. Christmann IV said, “Kregg’s expertise and leadership have been a tremendous asset to …

Razor Energy Reports Q4

Razor Energy Reports Q4

Razor Energy Corp. (ticker: RZE) recorded a positive Q4 2017 net income of $2.3 million, or $0.14 per share. For 2017, the company had a net loss of $3.7 million, or $(0.27) per share. The company produced 4,534 BOEPD in …

Trudeau Cuts Peru Trip Short to Get Trans Mountain Done

Trudeau Cuts Peru Trip Short to Get Trans Mountain Done

B.C.’s Horgan is steadfast in goal to keep pipe project out of his province; Trudeau seeks federal jurisdiction over line

From Bloomberg

“We are going to get the pipeline built. It is a project in the national interest,” Prime Minister …

April 16, 2018 - 2:21 pm Closing Bell Story‎, Energy News, Midstream
Canada’s Energy Sector Faces Rough Waters

Canada’s Energy Sector Faces Rough Waters

Stiff U.S. competition, an inter-province pipeline row prolongs limited export opportunity, and U.S. is its only big export customer

 

With U.S. shale on a tear, imports are dropping

Total U.S. crude production reached 10 MMBOPD in November 2017 and …

ConocoPhillips Doubles Down in British Columbia’s Montney with 35,000-Acre Acquisition

ConocoPhillips Doubles Down in British Columbia’s Montney with 35,000-Acre Acquisition

Oil and gas investment in politically risky British Columbia

Just a few days before Kinder Morgan Canada said it would halt investment and construction on the Trans Mountain pipeline expansion due to political risk in British Columbia, ConocoPhillips (ticker: COP) …

Crescent Point Energy Grows USA Operations

Crescent Point Energy Grows USA Operations

Crescent Point Energy Corp. (ticker: CPG) said its Q1 2018 production and cash flow from its U.S. assets have grown year-over-year by approximately 60% and 175%, respectively. Additionally, the company said its land position in the east shale Duvernay light …

Bellatrix Starts Phase 2 at Adler Flats

Bellatrix Starts Phase 2 at Adler Flats

More than doubling throughput capacity, Bellatrix Exploration Ltd.’s (ticker: BXE) O’Chiese Nees-Ohpawganu’ck deep-cut gas plant at Alder Flats can now process 230 MMcf/d. The Adler Flats Plant was fully commissioned in mid-March and began selling volumes on March 19, 2018. …

Lackawana Energy Center Project Rendering. Source: http://lackawannaenergy.com/

Encana, Keyera Deal Will Add 33,000 Barrels of Montney Condensate Processing Capacity at Pipestone

Deal struck between Encana and Keyera Partnership adds 33,000 barrels of raw condensate processing capacity and 170 MMcf/day of net inlet gas processing; Keyera will own the facilities at Pipestone

Encana Corporation (ticker: ECA) and Keyera Partnership have reached an …

Strategic Oil & Gas Ltd. Reports 2017 Results

Strategic Oil & Gas Ltd. Reports 2017 Results

Northern Alberta operator Strategic Oil & Gas Ltd. (ticker: SOG) has posted Q4 and full year 2017 results. The company had a net loss of $41.3 million, or $(0.89) per share in Q4 2017. For 2017, Strategic had a net …

Blackbird Energy Reports Q2 2018

Blackbird Energy Reports Q2 2018

Blackbird Energy Inc. (ticker: BBI) reported for the three months ended January 31, 2018, a net loss of CDN$1.71 million, or a net loss per share of $(0.00). For the six months ended January 31, 2018, the company reported a …

Canada Needs Higher Takeaway Capacity and Lower Oil Price Differential

Canada Needs Higher Takeaway Capacity and Lower Oil Price Differential

Canada is hurting for takeaway capacity—the industry needs pipelines to take its oil and gas production to market, or more locomotive hauling capacity—or both.

Cenovus Energy Inc. (ticker: CVE) said it has reduced production rates due to pipeline constraints and …

Seven Generations Energy Chalks Up $562 Million Net Income

Seven Generations Energy Chalks Up $562 Million Net Income

2017 average Q4 production was 197,000 BOEPD

Montney producer Seven Generations Energy Ltd. (ticker: VII) reported a net income of $83.6 million, or $0.23 per share for the fourth quarter of 2017. For the full year, the company posted a …

Bellatrix Exploration Working on Spirit River, Cardium; $65-$60 Million CapEx in 2018

Bellatrix Exploration Working on Spirit River, Cardium; $65-$60 Million CapEx in 2018

Bellatrix Exploration Ltd. (ticker: BXE) had a net loss of CDN$13.1 million, or $(0.26) per share. For 2017, the company reported a net loss of $91.4 million, or $(1.85) per share.

Bellatrix produced approximately 37.1 MBOEPD in Q4 2017. The …

Source: BBI

Blackbird Energy Updates Wells, Ups Credit Facility to $20 Million

Blackbird Energy Inc. (ticker: BBI) has released test results from its 3-27-71-7W6 Upper Montney delineation well. The well flowed at an average estimated sales rate of 1,188 BOEPD (53% liquids, liquids/gas ratio of 190 Bbls/MMcf) over the final 48-hours of …

Tantalizing Prospect for Canadian Gas Producers: Shell Mulls Investment in New Wave of LNG Projects

Tantalizing Prospect for Canadian Gas Producers: Shell Mulls Investment in New Wave of LNG Projects

From the Financial Post

Shell chief executive Ben van Beurden says the company is looking to finalize new investments, which may the LNG Canada project

Tellurian’s Souki says long-term LNG contracts are going to be a thing of the past

March 9, 2018 - 11:59 am Closing Bell Story‎, Energy News, LNG
Cushing, Okla., is one of the United States oil facilities in the Keystone Pipeline System.

TransCanada’s 4,250-kilometre (2,640 mile) Keystone Pipeline System transports approximately 20 per cent of western Canadian crude oil exports to key refineries in the U.S. Midwest and Gulf Coast, where it is converted into fuel and other useful petroleum products.

No Stream Like Midstream

TransCanada, Enbridge and Spectra queue up pipeline projects across all of North America

TransCanada adds Canadian capacity

TransCanada Corporation (ticker: TRP) has a new $2.4 billion NGTL system expansion coming on-line within four years. The NGTL moves gas from the …

Razor Energy Increases Reserves by 112% in 2017

Razor Energy Increases Reserves by 112% in 2017

Razor Energy Corp. (ticker: RZE) released a new reserves report today.

Total reserve values, on a proved developed producing basis discounted at 10% before tax, were $178.3 million, which represents an increase of 112% over year-end 2016. Total PDP reserve …

Precision Drilling Increased Rig Automation, Exits 2017 with 63 Active Rigs

Precision Drilling Increased Rig Automation, Exits 2017 with 63 Active Rigs

Targets 2018 upgrades to stay below $34 million

Precision Drilling Corporation (ticker: PDS) had fourth quarter 2017 revenues of CDN$347 million, an increase of 15% over Q4 2016. Precision posted a Q4 2017 net loss of CDN$47 million, or (CDN$0.16) …

Source: BBI

Blackbird Energy’s Middle Montney Well Produces High Level of Condensates

Blackbird Energy Inc. (ticker: BBI) has released test results from its 2-20-70-6W6 Middle Montney delineation well, which is located on the company’s eastern multi-interval delineation block. The well is more than five kilometers east of Blackbird’s previous operated development drilling.…

February 13, 2018 - 6:43 pm Canada, Closing Bell Story‎, Oil and Gas 360 Articles