MEG Energy Corp., like other Canadian oilsands producers, was hit hard by the COVID-19-related price shock in the second quarter of 2020, but a vigorous hedging initiative, reduced capital spending and across-the-board salary reductions allowed it to contain its financial losses.
July 28, 2020, 8:07 AM MDT
Teck Resources Limited, Canada’s largest diversified mining company, was hit hard by the impact of COVID-19 on its operations in the second quarter, the company said on Thursday, with the producer of steelmaking coal, copper and zinc — and with a presence in the oilsands — recording a loss, as prices for all the commodities it produces declined.
July 23, 2020, 3:13 PM MDT
You’d think Source Energy Services Ltd., Canada’s largest frac sand provider, would have enough of a logistics challenge transporting its northern white sand about 2,100 kilometres by rail from the three mines it owns in Wisconsin.
July 22, 2020, 9:39 AM MDT
Tourmaline Oil Corp.’s president and CEO made it very clear on Tuesday during a webcast conference that natural gas holds out much more hope for his company in the near future than crude, a point echoed by other executives at the event.
July 8, 2020, 12 AM MDT
The development of the new LNG plants in Canada that appear most likely to proceed could create up to 8,300 jobs in the upstream sector, several thousand peak construction jobs, 1,200 or more operations positions and thousands of spin-off jobs in local communities, according to a new report.
June 25, 2020, 7:55 AM MDT
This article continues yesterday’s look at how industry associations are dealing with the fallout from COVID-19. Today’s article reports on some of the smaller industry groups in Calgary.
June 16, 2020, 9:47 AM MDT
Canada’s oilfield service industry is facing “an existential crisis” that threatens its very existence, says the head of an association that represents that sector, but can claim some success in having received direct government help and government loan backing that will allow companies to survive
June 15, 2020, 9:51 AM MDT
The Alberta Carbon Trunk Line (ACTL) will lead to the birth of a new industry in the province, says the head of the company.
June 3, 2020, 6:34 AM MDT
The delayed $10-billion Sturgeon refinery is operating close to capacity, processing about 70 per cent of the bitumen it was designed for, almost three years after its original in-service date.
May 21, 2020, 9:49 AM MDT
Enerplus Corporation, which is focused on North Dakota and Marcellus oil and gas production, managed to do something few producers have pulled off in the first quarter of 2020 — it eked out a profit.
May 8, 2020, 9:57 AM MDT
The good news for Calgary-based Renaissance Oil Corp., which operates exclusively in Mexico, is that it’s receiving far higher prices for its oil and natural gas production in the country than it would if it was operating in Canada or the U.S.
May 6, 2020, 9:55 AM MDT
It was a short and not very sweet annual meeting Tuesday for Calgary-based Wesern Energy Services Corp., held in a virtual formal, given the COVID-19 requirements limiting large gatherings.
April 29, 2020, 7:07 AM MDT
As a native Texan, Bryce Bernhard is used to weathering a few storms, but the storm that has hit Alberta’s oil industry-reliant economy in the last four or five years may not have been quite what he expected when he moved from that state to the province in 2010.
April 29, 2020, 7:54 AM MDT
Brad Peterson readily acknowledges that among the gloom and doom gripping the Canadian energy industry, he’s one of the fortunate ones — and he intends to keep on sharing his good fortune.
April 28, 2020, 12 AM MDT
There’s something comforting about heading a privately-owned oil and gas company and not having to watch your company’s publicly-listed shares drop on an almost daily basis, according to the CEO and president of Calgary-based Velvet Energy Ltd.
April 23, 2020, 6 AM MDT
As a result of reducing operations to a single-train facility at Fort Hills and to minimize negative cash flow, Teck Resources Limited has reduced its planned 2020 capital spending in the energy business unit to $85 million from $175 million.
April 21, 2020, 9:06 AM MDT
A spokesperson for LNG Canada says the project owners still plan to have the plant operating by the mid-2020s.
April 8, 2020, 2:10 PM MDT
Unless the COVID-19 pandemic kills millions of people worldwide — which even the most pessimistic public health experts think is unlikely — global LNG and related natural gas demand will grow this year, says one of Canada’s top natural gas sector consultants.
April 3, 2020, 8:41 AM MDT
Oil prices will stay lower for longer as a result of the COVID-19 virus, with Canadian oilsands and offshore production being the hardest hit in the next two months, but with shale producers also being seriously impacted, says an Oslo-based energy industry consultancy.
March 18, 2020, 10:37 AM MDT
With 20 per cent of the world’s fresh water, the largest number of lakes in the world (31,000) and the fifth largest number of rivers worldwide, a Canadian charitable group that invests in projects aimed at enhancing those waterways in this country has a lot on its plate.
March 10, 2020, 10:34 AM MDT
MEG Energy Corp. reported stronger 2019 financial results Wednesday compared to last year, thanks in part to higher bitumen prices.
March 5, 2020, 8:02 AM MST
Although the red ink continued to flow for Trican Well Services Ltd. in the fourth quarter of 2019, as well as for the entire year, the specialized oilfield services company’s cost reduction and efficiency measures allowed it to show better results than in the previous year.
February 27, 2020, 9:50 AM MST
It’s being billed as the final annual Gulf Canada Resources Ltd. alumni reunion, but there’s much more to the story about the March 12 event — just ask former Gulf employee Doug Phillips.
February 24, 2020, 9:35 AM MST
Teck Resources Limited announced Sunday it is withdrawing the Frontier project from the regulatory review process.
February 23, 2020, 7:45 PM MST
With a federal cabinet decision on the Frontier oilsands project looming next week, proponent Teck Resources Limited warned of an impairment should there be a “negative decision.”
February 21, 2020, 12 AM MST