Industry News News
NASTT's 2019 No-Dig Show will take place March 17-21, 2019 at the Donald E. Stephens Convention Center. The conference will host more than 200 exhibitors and over 2,000 attendees who include public works, contractors, engineers, utility owners, damage prevention and industrial facility personnel.
Tourmaline Oil Corp. is pleased to report very strong total reserve growth, liquids reserve growth and a continued reserve value increase in the current depressed natural gas price environment. The Company executed on the 2017-2018 plan to concentrate almost entirely on internal EP growth and has produced the best reserve metrics in the Company's 10 year history over the past two years.
Inter Pipeline Ltd., in its financial and operating results for the three and twelve-month periods ended December 31, 2018, announced a record $1.1 billion in funds from operations, a 10 percent increase over the previous year, with its natural gas liquids processing business reaching a record annual FFO of $445 million.
Another component has been added to the product portfolio of the NEMO progressing cavity pump from NETZSCH: the xLC unit. This unit triples the service life of the pump, particularly when conveying difficult, abrasive media. When wear occurs in the rotor-stator system, the new xLC unit allows the performance of the pump to be re-established by adjusting the preload between the conveyor elements.
Rockwell Automation, which is dedicated to industrial automation and information, and Schlumberger, a leading provider of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry, have entered into an agreement to create a new joint venture, Sensia, the first fully integrated digital oilfield automation solutions provider.
Today, GTI has released a site-specific engineering design titled Low-Carbon Renewable Natural Gas (RNG) from Wood Wastes. GTI led a team of engineers and scientists to produce a "blueprint" for converting an existing biomass facility into an RNG production site, using the wood waste feedstock and some of the existing infrastructure. A biomass power plant in Stockton, California, was the host site for the engineering design effort. In addition to providing data about the process technologies, the integrated plant, and production costs, the study highlights the many environmental benefits and the low-carbon fuel produced.
Cenovus Energy Inc. delivered strong operating performance in 2018 but took a financial hit in the process, the company reported in its year-end results release. While solid production continued across Cenovus operations, a $1.3 billion loss in the fourth quarter pushed it to a net loss of $2.9 million for the year.
With growing evidence of a softening in global economic activity, DBRS Limited (DBRS) is tempering its base case price forecast for West Texas Intermediate (WTI) oil and Brent Oil over the period 2019 through 2021. DBRS is also reducing its base case forecast for the spot price of natural gas delivered at AECO in Alberta due to continued weak supply and demand fundamentals for Canadian natural gas. A CAD/USD exchange rate of 0.75 (versus 0.78 previously) has been assumed over the forecast period to align with current exchange rates. The current forecasts are updated from the previous forecasts published on October 26, 2018. See the commentary "DBRS Updates Oil and Gas Price Forecasts: Discounted Commodity Prices in Canada Remains the Prevailing Theme."
FLIR Systems, Inc. has introduced what it calls the industry's first high-definition (HD), handheld optical gas imaging (OGI) camera, the FLIR GF620. Designed for oil and gas industry professionals, the GF620 camera sets a new standard for detecting and visualizing invisible leaks of hydrocarbons, such as methane, and common volatile organic compounds (VOCs). With four times the pixels of previous models, the HD resolution GF620 helps inspectors survey for fugitive hydrocarbon emissions from further, safer distances than possible with lower-resolution OGI cameras.
ARC Resources Ltd. has reported its fourth quarter and year-end 2018 financial and operational results. Fourth quarter production averaged 136,502 boe per day, net income was $159.7 million ($0.45 per share), funds from operations totaled $208.6 million ($0.59 per share), and net debt was $702.7 million as at December 31, 2018.
Schneider Electric has released the 2019 Corporate Energy & Sustainability Progress Report, a look at the global trends, barriers and opportunities impacting enterprise energy and carbon-management programs. Although corporate teams responsible for these efforts still struggle with funding and data, the report reveals that a majority of large companies have set public-facing sustainability targets — goals that are driving the adoption of innovative strategies and technologies, and shifting perceptions of the value of conservation and climate action.