James Mahony

  • Savanna Opens Data Room As Board Advises Rejecting Total Energy Bid

    Reiterating earlier advice that shareholders reject an offer from competitor Total Energy Services Inc., the board of directors of Savanna Energy Services Corp. is taking steps to allow others to bid for the Calgary-based oilfield services contractor.

    January 10, 2017, 11:56 AM MST

  • Interest Rates A Concern As Producers Tackle Debt

    Following earlier news that some of Canada’s leading banks have boosted residential mortgage rates, concern may be growing among oil and gas producers carrying significant debt.

    January 9, 2017, 9:36 AM MST

  • Higher Taxes Ruined ‘Alberta Advantage’: Fraser Study

    Higher provincial taxes have largely eroded the “Alberta Advantage” that previous Alberta governments long boasted of, according to a study released this morning by the Fraser Institute.

    January 5, 2017, 10:51 AM MST

  • Alberta Carbon Tax The Price Of Pipeline Approvals: Trudeau

    But for Premier Rachel Notley’s backing of a carbon tax in Alberta, Justin Trudeau’s cabinet would not have approved the two major pipeline projects that recently got the green light from Ottawa, the prime minister told reporters in Calgary Thursday.

    December 22, 2016, 10:48 AM MST

  • Boards Warned About Setting Executive Pay Plans

    The boards of Canadian public companies should think twice before designing executive compensation schemes, a Calgary business audience heard Thursday.

    December 9, 2016, 11:30 AM MST

  • TransGlobe Back In Town With $80 Million Harmattan Deal

    International producer TransGlobe Energy Corporation has re-entered Canada, agreeing to pay $80 million for Cardium light oil and Mannville liquid-rich gas assets in the Harmattan area of west-central Alberta.

    December 5, 2016, 11:54 AM MST

  • Fewer Seismic Firms Could Taint Recovery: Executives

    While raising few problems in the current downturn, a dwindling stable of Alberta seismic firms could pose problems later, when a recovery starts to take shape, seismic industry leaders said recently.

    November 28, 2016, 7:11 AM MST

  • Pipeline Approval Starts At Home: Gary Doer

    If Canada wants major pipeline projects approved in the United States, it needs to set the example in its own backyard, Canada’s former ambassador to the U.S. said in Calgary Thursday.

    November 18, 2016, 11:18 AM MST

  • Service Sector Shows Signs Of Worker Squeeze: Essential Exec

    As frustrated workers pack up and leave, Western Canada’s oilfield services sector is showing early signs of a labour squeeze, said the head of an oilfield services company.

    November 15, 2016, 9:46 AM MST

  • Northern Blizzard Narrows Losses, Delays 2017 CAPEX Decision

    While third-quarter volumes stood roughly flat with second-quarter figures, Northern Blizzard Resources Inc. reported production in the third quarter was about 13 per cent below last year’s comparable volumes.

    November 14, 2016, 10:41 AM MST

  • Service Pricing Has Bottomed Out: Trican CEO

    While executives with Trican Well Service Ltd said pricing in Western Canada’s oilfield service sector has hit bottom, the company is not yet moving to re-activate parked equipment.

    November 10, 2016, 11:01 AM MST

  • Strad’s Canadian Lift Did Not Offset U.S. Q3 Drop

    Reporting positive earnings in Canadian operations in the third quarter, Strad Energy Services Ltd. nonetheless posted a net loss company-wide, owing mainly to the company’s United States operations.

    November 7, 2016, 9:52 AM MST

  • Trinidad Avoiding Long-Term Deals, Despite Improved Market

    Posting third-quarter results Thursday, Trinidad Drilling Ltd., reported improved industry conditions as crude oil prices stabilized, natural gas prices improved and customer inquiries increased.

    November 3, 2016, 10:23 AM MDT

  • Baytex To Revive Canadian Program, If Oil Recovers

    Baytex Energy Corp. is ready to revive capital spending in Western Canada if crude oil prices co-operate, management said this morning.

    November 2, 2016, 10:30 AM MDT

  • Private Equity’s Role Growing, Despite Downturn

    Despite the industry downturn, private equity is playing an increasing role in Western Canada’s oil and gas sector, giving startups the size and scale they need to take off, recent interviews with industry insiders suggest.

    October 31, 2016, 7:31 AM MDT

  • Peabody Takes Chief Executive Job At Husky

    Announcing a changing of the guard late Wednesday, Husky Energy Inc. posted strong third-quarter earnings, thanks mainly to oil and gas asset sales, despite production that fell nearly 10 per cent from last year’s period.

    October 27, 2016, 11:39 AM MDT

  • Wet Quarter Squeezes Western’s Rig Utilization

    A wet third quarter and stiff competition hurt drilling rig utilization for Western Energy Services Corp., which narrowed its net loss in the period from last year’s comparable figure.

    October 26, 2016, 11:05 AM MDT

  • Alberta-B.C. Asset Deal Will Boost Tourmaline Profile

    If all goes as planned, the asset deal with Shell Canada Limited announced late Thursday will make Tourmaline Oil Corp. one of Western Canada’s premier Montney-Deep Basin players, pushing average daily production to some 215,000 boe this year, with a 2017 capital budget expected to reach $1.1 billion, the company said on Thursday.

    October 21, 2016, 11:22 AM MDT

  • Alberta Not Out Of The Woods Yet: Notley

    Despite recent talk that Alberta might finally be coming out of the downturn, Alberta Premier Rachel Notley is reserving judgment. After delivering a ‘state-of-the-province’ address in Calgary Wednesday, she answered questions from reporters, one of whom suggested that the worst, economically, might be over.

    October 20, 2016, 10:54 AM MDT

  • Contrarian Tack Draws Quebec Broker To Oilpatch

    A contrarian mindset has drawn a Quebec bank to Western Canada’s oil and gas sector at what many consider a low point, according to the head of the bank’s new, Calgary-based energy investment banking and securities arm.

    October 19, 2016, 9:46 AM MDT

  • Pipelines Need Not Taint Environment: First Nation Chief

    The view that Canadians must choose between pipelines, on one hand, and environmental protection, on the other, is a false one, according to the head of one of Canada’s most business-savvy First Nations.

    October 4, 2016, 11:07 AM MDT

  • Investors Want ‘Robust’ Climate Plan: Environment Minister

    Having an effective climate change plan is Alberta’s responsibility, but it is also needed to attract the kind of investment the province’s oil and gas sector will need in the future, Alberta’s environment and parks minister said Tuesday.

    September 21, 2016, 11:26 AM MDT

  • Paul Ziff Leaving Natural Gas Consultancy

    Next month, industry veteran Paul Ziff will leave the Calgary-based oil and gas consulting business he spent more than three decades building.

    September 16, 2016, 11:41 AM MDT

  • Producers Realign Costs To Fit $50 Oil: Conference

    While hopeful crude oil prices will recover, many of Western Canada’s producers are not kidding themselves, focusing instead on realigning operations — and costs — to a longer-term price in the $50 WTI range.

    September 15, 2016, 11:35 AM MDT

  • Trudeau Bogging Down Pipeline Approvals: Kenney

    After speaking in Calgary on Friday, aspiring Progressive Conservative party leader Jason Kenney accused the Trudeau Liberals of slowing down the federal pipeline approval process.

    September 13, 2016, 9:15 AM MDT

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