At OTC 2019, Weir Oil & Gas introduced its new SPM EXL Frac Pump - engineered from the ground up to be the most durable, longest-lasting 2500 horsepower pump on the market, the company states. With the highest rod load rating in its class at 238,000 pounds, this pump is designed to withstand today's harshest fracking conditions and ease maintenance for operators' field teams.
TransCanada Corporation announced that shareholders representing approximately 99.55% per cent of votes cast approved a special resolution authorizing the Company to amend its articles to change its name to:
The National Energy Board (NEB) has approved two applications to abandon the NEB-regulated parts of Exxon Mobil's Sable Offshore Energy Project and Encana Corporation's Deep Panuke Project. These projects, both located offshore Nova Scotia, had reached a stage of naturally declining production. The Sable Offshore Energy Project stopped producing natural gas in December, 2018 and Deep Panuke ceased production in May, 2018.
AltaGas Ltd. reported first quarter 2019 financial results and provided an update on its business, including the expansion of its integrated western Canadian midstream service offering to include global energy export capabilities, through its Ridley Island Propane Export Terminal (RIPET).
The Petroleum Services Association of Canada (PSAC), in its Midyear Update to the 2019 Canadian Oilfield Services Activity Forecast, lowered for a second time its Forecast for the number of wells drilled (rig released) in 2019 across Canada to 5,300 wells - a drop of 1,300 or twenty per cent (20%) from the original Forecast of 6,600 in November 2018. PSAC has based its updated Forecast on an average natural gas price of C$1.65/mcf (AECO), crude oil price of US$57.00/barrel (WTI), and a U.S.-Canada exchange rate averaging $0.75.
Leucrotta Exploration Inc. is pleased to announce the following update: Leucrotta drilled and completed an Upper Montney horizontal multi-frac well at 8-22-81-14W6 ("8-22") in the Mica area of north east British Columbia. The well was considered a major step-out given it was approximately 7.5 miles from the closest producing horizontal Upper Montney well. This well confirms that a large portion of our land base that has previously been delineated as highly productive in the Lower Montney is also highly productive in the Upper Montney, effectively significantly increasing the size of the potential development of the resource.
A Southwest Research Institute methane leak detection system is taking flight as part of a U.S. Department of Energy (DOE) National Energy Technology Laboratory (NETL) project to develop automated inspections of oil and gas facilities.
The cost of building
and operating oil sands projects has fallen dramatically in recent years and
total oil production is expected to rise by another 1 million barrels per day
(mbd) by 2030. But external factors—such as price uncertainty caused by
pipeline constraints—are contributing to a more moderate pace of production
growth than in years past, a new report by business information provider
Newfoundland and Labrador has an opportunity to become one of the most competitive offshore oil and natural gas jurisdictions in the world, but only if Newfoundlanders and Labradorians vote for energy in the next provincial election, according to the Canadian Association of Petroleum Producers (CAPP). In its Newfoundland and Labrador Energy Platform, Oil and Natural Gas Priorities for a Prosperous Newfoundland and Labrador, CAPP made a series of action-oriented recommendations aimed at increasing industry competitiveness through improvements to regulatory, fiscal, and economic policies, and the timely expedition of projects.
Ritchie Bros. has received bankruptcy court approval to purchase the assets of Welded Construction, L.P. together with Gordon Brothers, the global advisory, restructuring and investment firm. The two companies will work together to sell the Welded Construction assets through multiple selling channels.
Canadian Natural Resources Limited has released a follow up report on the event which occurred at the Scotford Upgrader, in which the Company has a 70% interest, on Monday April 15, 2019 at approximately 8:45am. Shell Canada, as Operator of the Scotford Upgrader, along with Strathcona County Emergency Services responded to a fire in the upgrader expansion area ("North Upgrader") at the Scotford Upgrader, while it was being shut down for planned maintenance. The fire was promptly extinguished, all personnel were accounted for, and there were no reported injuries.
Orbital Gas Systems, a wholly-owned Energy subsidiary of CUI Global, Inc., held a technology showcase and open house for customers and suppliers at its Houston facility Thursday, April 25. The 39,000 square foot facility supports the growth of the upstream, midstream and downstream product lines and services, including gas metering, process control, telemetry, gas sampling, environmental monitoring and BioMethane systems.
Rivian has announced an equity investment of $500 million from Ford Motor Company. In addition to the investment, the companies have agreed to work together to develop an all-new, next-generation battery electric vehicle for Ford's growing EV portfolio using Rivian's skateboard platform.
Husky Energy generated funds from operations of $959 million in the first quarter of 2019, compared to $895 million in the first quarter of 2018. Net earnings were $328 million, compared to $248 million in Q1 2018 and free cash flow was $147 million, compared to $258 million in the first quarter of 2018. Cash flow from operating activities, which includes changes in non-cash working capital, was $545 million, compared to $529 million in Q1 2018.
Vermilion Energy Inc. has released its operating and condensed financial results for the three months ended March 31, 2019. The company announced a 2 percent increase in its production averages over the previous quarter, including a 1 percent boost in its Canadian operations.
Canada's transition to low-emission energy sources is underway but it remains one of the most emission-intensive nations in the world, according to a new report released by the National Energy Board.
Orbital Gas Systems has received orders for its GasPTi-F product from SAMSON AG, its global distribution partner, for use by a large industrial user of natural gas in Spain. The number of units comprising the orders was not disclosed.
Crescent Point Energy Corp. has selected the AFTI WatchDog as a key service provider to support its field automation strategy.
Cenovus Energy Inc. delivered strong operating and financial performance in the first quarter of 2019, generating more than $1 billion of adjusted funds flow, $731 million of free funds flow and cash from operating activities of $436 million. The company's excellent financial results were driven by strong operating performance, a significant narrowing of light-heavy oil price differentials in early 2019 and Cenovus's low-cost structure and continued commitment to capital discipline.
British Columbia's Regional District of Fraser-Fort George (RDFFG) has announced approval in principle for an agreement where FortisBC will purchase landfill gas from the Foothills Boulevard Regional Landfill to purify and inject the gas into its natural gas distribution system as Renewable Natural Gas (RNG).
For decades, offshore oil and gas personnel have performed insulation resistance tests with handheld megohmmeters to prevent motor and generator failures that lead to costly unplanned shutdowns, production interruptions and rewinding repairs.
dynaCERT Inc. has received a new order for its C-Series of HydraGEN Technology products in the war against NOx and Greenhouse Gas Emissions with its made-in-Ontario Carbon Emission Reduction Technology.
The proposed Flemish Pass Exploration Drilling Project and the proposed Eastern Newfoundland Offshore Exploration Drilling Project are not likely to cause significant adverse environmental effects when mitigation measures are taken into account, according to the federal government.
Federal Minister of Natural Resources Amarjeet Sohi has announced that the government of Canada will extend the timeline for a decision to be made on construction of the Trans Mountain Pipeline expansion project to June 18.
The Canadian Association of Oilwell Drilling Contractors offered its congratulations to Premier-Designate Jason Kenney on securing a decisive victory in the 2019 Alberta provincial election.
The Petroleum Services Association of Canada (PSAC) has congratulated Premier-Elect Jason Kenney and the new United Conservative Party for their resounding victory in Alberta. PSAC also applauds all of the candidates for their outstanding efforts during the campaign.
The Canadian Association of Petroleum Producers (CAPP)has congratulated Jason Kenney and the United Conservative Party on its victory in the 2019 Alberta election. CAPP urged Albertans to vote with energy in mind, at the polls. And its Alberta Energy Platform advocated for a government focused on making Alberta one of the most attractive places in the world for oil and natural gas investment. There are many challenges facing the industry and CAPP made action-oriented recommendations focused on market access, regulatory competitiveness, climate policy, and fiscal and economic policy.
Trelleborg is looking forward to celebrating 50 years of the Offshore Technology Conference (OTC) and the Group's 46 years of participation. The company looks to the future of energy and power generation, showcasing a historical timeline, including firsts from the oil & gas industry, OTC, and Trelleborg.
Secure Energy Services Inc. has completed two tuck-in acquisitions, providing the Corporation with a strategic midstream footprint in one of the largest crude oil storage and trading hubs in North America. The Corporation has acquired a 27% interest in a crude oil storage facility comprised of four above-ground 175,000 bbl tanks located in Cushing, Oklahoma, and a 51% interest in an 80-acre parcel of undeveloped land adjacent to the facility. The total purchase price of the acquisitions was US$10.4 million, paid in cash at closing on April 11, 2019.
Canadian Natural Resources Limited announces in connection with its previously announced Normal Course Issuer Bid to purchase up to 61,424,856 of its common shares, it entered into an Automatic Securities Purchase Plan with a designated broker. The ASPP is intended to allow for the purchase of Shares under the NCIB when the Company would ordinarily not be permitted to purchase shares due to regulatory restrictions and customary self-imposed blackout periods.
Based on its recent analysis of the global industrial valves and actuators market, Frost & Sullivan recognizes Emerson with the 2019 Global Growth Innovation & Leadership Frost Radar Award. With more than 80,000 employees, Emerson is a global leader in supplying engineering technologies and services to customers in the industrial, commercial, and residential markets. Emerson's Automation Solutions business combines deep expertise and innovative technologies to guide its customers through digital transformation and enable game-changing improvements in safety, reliability, production, and energy management.
Workers from Alberta's energy sector are calling on oil sands company executives to speak out about the threat Jason Kenney's policies represent to the future of the oil sands.
North American Helium appoints experienced oil & gas industry executive as new president & chief operating officer
North American Helium, a Calgary-based private helium exploration and production company, announced that Marlon McDougall, a 30-year veteran of oil and gas industry operations, has been appointed President & Chief Operating Officer of the Company.
Following the recent news that Chevron Corp (Chevron) will acquire Anadarko Petroleum Corp (Anadarko) for US$33 billion, Jonathan Markham, Upstream Oil & Gas Analyst at GlobalData, a leading data and analytics company, offered his view on the deal:
Chevron Corporation has entered into a definitive agreement with Anadarko Petroleum Corporation to acquire all of the outstanding shares of Anadarko in a stock and cash transaction valued at $33 billion, or $65 per share. Based on Chevron's closing price on April 11, 2019 and under the terms of the agreement, Anadarko shareholders will receive 0.3869 shares of Chevron and $16.25 in cash for each Anadarko share. The total enterprise value of the transaction is $50 billion.
Borets, a global leader in the engineering, manufacturing, sales and service of electric submersible pump (ESP) systems, has successfully installed its 250th permanent magnet motor (PMM) ESP system in the U.S.
Geotab, a global leader in IoT and connected transportation, has signed an arrangement agreement whereby it plans to acquire BSM Technologies. BSM provides telematics and asset management solutions to more than 165,000 vehicles across government and private fleets in Canada and the United States. The completion of this transaction would add to the over 1.5 million fleet telematics subscribers utilizing Geotab globally.