Report: “Reality of First Nations Engagement” in the Western Canadian Energy Sector
First Nations Engagement to Create “New West” for Canada’s Energy Sector
…Post Tagged with: "Canada"
Canadian Economy Expected to Grow Despite Oil and Gas Headwinds
The Canadian economy is expected to grow 1.5% in 2016
The Canadian economy is expected to grow over the next two years, but the growth of individual provinces will vary widely, according to a report from the Conference Board of …
Canadian Banks Beat Estimates Despite Oil Exposure
Canada’s big three banks all beat quarterly estimates
Royal Bank of Canada, Toronto-Dominion Bank and Canadian Imperial Bank of Commerce all topped profit estimates despite their exposure to the embattled oil and gas sector. Gross impaired loans to the oil …
Production Restarting at Canadian Oil Sands
Works are returning to the Canadian oil sands as wildfires move away from production sites
The Alberta government lifted mandatory evacuation orders for the last of the oil sands accommodation and production sites Monday, beginning the process of inspections by …
Minister of the Environment and Climate Change: No Plans to Ban Natural Gas
From the Observer/Op-Ed by Glen Murray, Minister of the Environment and Climate Change
There has been a slew of misinformation shared by Progress Conservative Party in recent days about the future of natural gas in Ontario as the province takes …
Wildfire in Canada could be the most Expensive Natural Disaster in Alberta’s History
Insurance bill for Canadian wildfire could exceed C$2 billion
This week’s massive forest fire in Alberta, Canada, could be the most costly natural disaster in the province’s history. The fire, which now covers more than 328.2 square miles, continues to …
Canadian Natural Resources Limited Announces 2016 First Quarter Results
CALGARY, ALBERTA –Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ)
Commenting on first quarter 2016 results, Steve Laut, President of Canadian Natural stated, “The first three months of 2016 were operationally strong for Canadian Natural. The Company delivered production volumes within …
Oil Prices Up Due to Canada’s Fire, Libya’s War, and Venezuela’s Incompetence
Wildfires burning out of control in Fort McMurray
Fort McMurray, the heart of much of Canada’s heavy oil sands production, has been evacuated due to a wildfire burning out of control in and around the city. The evacuations have forced …
Crude Oil Inventory Build is Five-Times Larger than Expected
U.S. crude oil inventories grow by 2.8 MMBO
Oil prices are down today after an inventory build that exceeded economists’ estimates by a factor of five.
According to data from Bloomberg, economists estimated an average build of 556 MBO, but …
Oil Supply/Demand Balance Should Yield Black Ink in 2017: Conference Board
Meantime, Canada’s Oil and Gas Sector is Expected to be in the Red for 2016
Canada’s oil and gas sector posted a pre-tax loss of more than $7 billion in 2015, according to information from The Conference Board of Canada. …
Free Cash Flow is the Plan in 2016 for Tamarack Valley Energy
Brian Schmidt has a plan. He believes the way to run an oil and gas company is to spend less and produce more.
Schmidt, the company’s president and CEO, presented Tamarack Valley Energy’s (ticker: TVE; TamarackValley.ca) strategy in Denver …
Mullen Group CEO Blames Horizontal Multistage Frac Technology for Low Oil Prices, Layoffs
Trucking CEO Predicts an Alternative to the Combustion Engine is Coming in His Lifetime
At Truck World 2016, Canada’s national truck show that opened in Toronto today, Canada’s Mullen Group (ticker: MTL; Mullen-Group.com) CEO Murray K. Mullen gave an …
TransCanada Announces Preferred Share Issuance
CALGARY, ALBERTA–(Marketwired – April 13, 2016) – TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) today announced that it will issue 12 million cumulative redeemable minimum rate reset first preferred shares, series 13 (the “Series 13 Preferred Shares”) at a price of $25.00 …
U.S. Imports of Canadian Crude Oil Hit Record-High 3.2 MMBOPD
While overall U.S. crude oil imports decline, the U.S. continues to increase imports of Canadian crude oil
The total amount of crude oil imported into the U.S. has steadily declined since a peak in 2005 when imports averaged 10.1 MMBOPD, …
New West Energy Services Inc. Announces Private Placement Financing Approved Overwhelmingly by Shareholders
CALGARY, ALBERTA–(Marketwired – April 11, 2016) – NEW WEST ENERGY SERVICES INC. (TSX VENTURE:NWE) today announced that at the special meeting held on April 7, 2016, NWE shareholders overwhelmingly approved the previously announced proposed private placement financing and the creation …
PetroMaroc Enters Into Debenture Waiver and Amending Agreement to Extend the Maturity Date of the Secured Debentures
TORONTO, ONTARIO–(Marketwired – April 11, 2016) – PetroMaroc Corporation plc (TSX VENTURE:PMA), an independent oil and gas company focused on Morocco (the “Company” or “PetroMaroc“), is pleased to announce that it has entered into a waiver …
Inter Pipeline Announces April 2016 Cash Dividend
Inter Pipeline Ltd. (“Inter Pipeline”) (TSX:IPL) announced today the declaration of a cash dividend of $0.13 per share for April 2016. This dividend will be paid on or about May 16, 2016 to shareholders of record on April 22, 2016. …
Canadian Oil and Gas Spending Expected to Drop 62% by the End of 2016
Canadian Association of Petroleum Producers forecasts a $50 billion drop in spending
The dramatic fall in oil prices has been felt around the world, particularly in major oil producing countries like Canada, where the benchmark WCS crude oil sells at …
Western Canada’s Rail, Ports Need Big Investment to Keep Up with Expected Oil Shipments
From the Globe and Mail
Big investments in both rail and marine infrastructure will be required to accommodate an acceleration in commodities shipments, particularly oil, over the next decade, says the Conference Board of Canada.
In a report released Thursday, …
Blackbird Energy Announces Firm Processing Capacity into Premier Market
Blackbird Energy announces 6 MMcf/d of firm sour gas processing – looking at long term capacity, growth
Alberta-based Blackbird Energy (ticker: BBI) announced today that it has signed a deal with a third-party company to process up to 6 MMcf/d …
Canada May Need Two Years to Recover from Oil Price Drop
Bank of Canada sees the commodity sector shrinking as part of the overall economy
Models run by Bank of Canada predict that it could take two years for the country to recovery from the dramatic downturn in oil prices. Bank …
Pacific NorthWest LNG Project Delayed for Another 3 Months
Ottawa asks for extra time for environmental assessment of Pacific NorthWest LNG
Malaysia’s state-owned Petronas has hit yet another hurdle on the road to developing its Pacific NorthWest LNG project in British Columbia, Canada. The Canadian Environmental Assessment Agency (CEAA) …
TransCanada Pays $13 Billion for 15,000 Miles of Marcellus/Utica Pipeline Assets
TransCanada purchases Columbia Pipeline Group for $10.2 billion plus assumption of debt
After years of regulatory limbo to get its Keystone XL pipeline resulted in nothing, TransCanada (ticker: TRP, TransCanada.com) found a new way to continue expanding its North …
Blackbird Energy Increases Both the Size and Value of its Reserves
Blackbird announces a 522% increase in proved plus probable reserves
Alberta-based Blackbird Energy (ticker: BBI, BlackbirdEnergy.com) continued to grow both the size and value of its reserves at its Elmworth Montney position over the last six months. The company …
Manitok Energy Shifts into Growth Mode
Canadian producer purchases processing plant for $4.75 million; looking at further acquisitions
Manitok Energy (ticker: MEI, ManitokEnergy.com) announced Wednesday that it has purchased a 14 MMcf/d natural gas processing plant in the Carseland area from a private company for …
Canadian Banks Comfortable with Energy Exposure
Canadian banks have $80 billion of exposure to oil including untapped loans
Canada’s top banks have a combined exposure of C$107 billion (USD$80 billion) to the oil and gas industry, inclusive of untapped credit lines, reports Bloomberg.
Canadian Imperial …
Canadian Oil and Gas Industry Remains Resilient: Natural Resource Minister
Alberta in much better fiscal position than BC, Ontario or Quebec
While the price of U.S. crude benchmark WTI hovers above $30 per barrel, the price of Canadian benchmark Western Canadian Select has been nearer the $20 mark in recent …
Canadian Oil Sands Production Expected to Increase: EIA
New Canadian oil sands projects are more costly to shut down than continue running
Despite lower oil prices, Canadian oil sands production is expected to continue growing, and be the main driver behind increased Canadian production as a whole, in …
Encana Continues to Shore Up the Balance Sheet as Production Rises
Encana remains focused on its core assets
Encana Corp. (ticker: ECA, Encana.com) continued to increase production and lower its debt amid the crash in crude oil prices. The company said that it produced 274.4 MBOEPD in the fourth quarter …
Seven Generations Closes $300 Million Private Placement Financing
Seven Generations Closes $300 Million Private Placement Financing
CALGARY, ALBERTA–(Marketwired – Feb. 24, 2016) – Seven Generations Energy Ltd. (TSX:VII) has closed its previously announced bought deal financing pursuant to which it issued 21,428,600 common shares at a price of
