Uncertainty and lack of clarity around government regulations and uncompetitive incentives when compared to other offshore jurisdictions are the greatest risks facing Canada’s offshore energy sector, according to Newfoundland and Labrador offshore industry representatives.
December 23, 2020, 12 AM MST
Hibernia Management and Development Company Ltd. (HMDC) will receive up to $38 million (approximately 40 per cent of total project costs) for the Hibernia project, to restart well work, perform drill rig upgrades, and invest in new digital technology, resulting in an estimated 300,000 hours of work over an estimated 18-month period.
December 23, 2020, 9:18 AM MST
Start-up Meteor Biotech is developing new technology to uncover additional production while reducing emissions per bbl of oil at the same time in oilsands operations.
December 23, 2020, 12 AM MST
Operators across Canada rig released 2,754 wells in the first 11 months of 2020, excluding experimental wells, a 39 per cent decrease from 4,542 wells drilled in the comparable period last year.
December 23, 2020, 9:29 AM MST
Proposed tolls on the Enbridge Inc. Mainline significantly exceeding a cost-of-service toll are not “just and reasonable” and will affect the competitiveness of Canadian crude and the economy as a whole, says a group of Canadian shippers.
December 23, 2020, 1:45 PM MST
Increased crude oil export capacity out of Western Canada could provide an opportunity for crude differentials to narrow by about US$3/bbl to $4/bbl on average over the next decade, according to an IHS Markit Canadian Oil Sands Dialogue report.
December 23, 2020, 7:57 AM MST
The Canada Energy Regulator (CER) says it will make a decision by early February on a request from Trans Mountain Pipeline ULC that it be relieved of the requirement it obtain permits for tree cutting from the City of Burnaby for its expansion project.
December 23, 2020, 9:10 AM MST
Bonterra Energy Corp. is continuing to urge its shareholders to reject the offer from Obsidian Energy Ltd.
December 23, 2020, 12 AM MST
Bonterra Energy Corp. reported a successful and efficient Q3/Q4 2020 drilling program, which has and will continue to be funded, in part, by the Business Development Bank of Canada (BDC) commitment.
December 23, 2020, 12 AM MST
December 23, 2020, 10:55 AM MST
The revolving credit period applicable to Perpetual Energy Inc.’s credit facility has been extended to March 1, 2021 and the $20 million borrowing limit maintained.
December 23, 2020, 1:50 PM MST
Drilling rig activity in Western Canada and the Top 10 active operators as of Dec. 23, 2020, as reported this morning by Rig Locator.
December 23, 2020, 11:35 AM MST
The U.S. rig count is up two from last week to 348 with oil rigs up one to 264, gas rigs up two to 83, and miscellaneous rigs down one to one.
December 23, 2020, 11:10 AM MST
Tamarack Valley Energy Ltd. closed of the sale of a newly created two per cent gross overriding royalty to Topaz Energy Corp. on a select portion of the acquired Clearwater properties completed on Dec. 21, 2020.
December 23, 2020, 1:53 PM MST
December 23, 2020, 7:50 AM MST
December 23, 2020, 7:53 AM MST
December 23, 2020, 7:57 AM MST
December 23, 2020, 8:01 AM MST
Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.