Efficiency gains fail to boost bottom line for oil and gas drillers
Analysts say rigs are drilling a third deeper per day compared to 2014 but average earnings per day have fallen by 25%.
Cenovus to accelerate drilling on acquired ConocoPhillips gas properties
Company will spend $650 million in 2019 to drill up to 120 wells in the Deep Basin of northeastern BC and northwestern Alberta.
AER shuts down Lexin Resources’ oil and gas operations
Regulator says the company owes $1 million in levies to the Orphan Well Association, $70 million in security for reclamation obligations.
Nearly $1B of oil sands production lost due to Fort McMurray fire
Conference Board of Canada report estimates lost production is equal to 0.33% of Alberta’s projected GDP.
Carbon tax would ‘kneecap’ struggling economy: Wall
Saskatchewan premier says the energy sector has already been hit by the falling price of oil and tens of thousands of jobs lost.
Drilling group calls on Alberta, feds to show sector more respect
Head of industry association says 100,000 people are out of work in the oil and gas industry – the equivalent of one in six.
Notley says Ottawa owes Alberta economic payback
Premier touts province as a fundamental part to the Canadian economy.
Exxon says oil and gas will still dominate energy in 2040
Oil giant forecasts emerging renewables such as solar and wind power to grow, but remain a small part of the world’s energy mix.
‘Stranded assets’ debate looms in confronting climate policy
Justin Trudeau suggests investment and innovation are necessary to successfully transition to low-carbon economy.
No short term fix for Alberta job losses
Oil price collapse has eliminated 40,000 jobs in the province’s energy sector.
Notley vows tight controls on $3B carbon tax
Critics says the broad parameters run the risk of it becoming a slush fund for pet government projects and priorities.
Oil well drilling association forecasts 2016 to be worst year in a generation
Association anticipates a 57% drop in activity compared to 2014.
Suncor to boost 2016 spending by up to $900M
Oil sands producer aims to spend between $6.7 billion and $7.3 billion next year.
Pengrowth Energy to sell Bodo property in Alberta for $95M
Proceeds from sale will be used to reduce Pengrowth’s debt.
Suncor bids to take over Canadian Oil Sands for $4.3B
Offer would give Canadian Oil Sands shareholders a stake in Canada’s largest integrated energy company.
More layoffs to come at TransCanada Corp.
Energy producer expects to shed 20% of its senior-leadership positions.
Oliver chided over no recession in Alberta claim
Calgary ranks dead last in GDP growth expectations this year, according to the Conference Board of Canada.
Alberta gas well blowout still not capped: Encana
Energy producer says small amounts of poisonous hydrogen sulphide have been released since the well blew Sept. 21
Alberta royalty regime needs overhauling: C.D. Howe
Think-tank argues a cash-flow tax would better account for the cost of doing business than a gross revenue royalty.
Husky Energy reports major hydrocarbon release in Newfoundland
Energy company estimates 8,938 kilograms of natural gas was released from a pipe linked to two of its subsea wells.
Total to fight $11.5M CRA tax bill
Reassessments relate to the 2010 and 2011 tax years following the company’s conversion to a corporation from an income trust.
Penn West cuts 400 jobs, mostly in Calgary
To cut a further $75 million from capital spending budget; suspends dividend.
Encana to exit Louisiana, reap US$1.3 billion in cash and savings
Energy producer will transport and market production for buyer GEP Haynesville LLC for the next five years.
Baytex Energy cutting capital spending, ending dividend payouts
Exploration and development spending will be 25% below the 2015 levels next year.
Obama proposing nearly 50% cut to oil, gas production methane emissions
Officials estimate the rules could cost industry up to $420 million in 2025.
Chevron Canada Resources slashing 130 jobs
Cuts amount to about 20% of the company’s workforce of more than 600 full-time employees.
LNG exports prospects darken
Affordable renewables weigh on growth.
The Digital Oilfield is here!
“Connected” technologies cut costs and improve productivity.
Wall pitches Saskatchewan over Alberta for royalty stability
Premier says provincial government has no plans to review the rates it charges oil companies.
Ivanhoe Energy declares bankruptcy
Restructuring talks with creditors fail.
Shell Canada delays Carmon Creek project startup
Energy producer wants to refine project design and retender some contracts.