02 November

Several media outlets have reported liability estimates provided by the AER in presentations to industry. We want to apologize for the concern and confusion that this information has caused. The numbers are staggering – $260 billion in total liability, which is $200 billion more than we have consistently reported. This particular estimate was created for […]

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02 November

© Mark Duffy / Adobe Stock Canadian drilling activity will fall 5 percent in 2019, as deep price discounts discourage production, an industry group forecast on Thursday. Canadian oil producers are collecting prices that are much lower than the U.S. benchmark due to severe pipeline bottlenecks, and weak prices may lead producers to limit drilling […]

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02 November

The sun will come out tomorrow, or at least some time next year. That’s the message from Canadian oil producers suffering from the worst domestic glut in at least a decade. Even as prices dipped to new lows on Thursday, some companies including Suncor Energy Inc. and Canadian Natural Resources Ltd. see reasons for optimism. […]

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02 November

Drilling for oil and gas in Canada will likely decline by 5 percent in 2019, the Petroleum Services Association of Canada has forecast, blaming pipeline capacity shortages and the resultant discount in Canadian heavy to the West Texas Intermediate benchmark for the outlook. The PSAC said it expected oil and gas companies to drill 6,600 […]

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02 November

Click here to view the article on the original web page at www.cnbc.com Oil prices fell on Friday as surging output by the world’s three largest producers outweighed supply concerns from the start of U.S. sanctions next week against Iran’s petroleum exports. Front-month Brent crude futures were at $72.60 per barrel at 0441 GMT on […]

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02 November

Click here to view the article on the original web page at www.ctvnews.ca Enbridge President and CEO Al Monaco attends the company’s annual general meeting in Toronto on Wednesday May 6 , 2015. (Chris Young / THE CANADIAN PRESS) CALGARY — Enbridge Inc. is looking at options to help clear a glut of oil in […]

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02 November

Click here to view the article on the original web page at www.jwnenergy.com A wildlife crossing over pipelines at MEG Energy’s Christina Lake SAGD project. Image: MEG Energy CALGARY — The CEO of MEG Energy Corp. says shareholders should continue to ignore a hostile takeover bid by Husky Energy Inc. because “by their own admission, […]

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02 November

Click here to view the article on the original web page at www.jwnenergy.com Image: Enbridge CALGARY — Tensions caused by steep price discounts for western Canadian heavy oil are dominating discourse as Calgary-based oilsands producers roll out third-quarter results. Tim McKay, president of Canadian Natural Resources Limited, charged Thursday that unnamed energy industry members are […]

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02 November

Click here to view the article on the original web page at oilprice.com Baker Hughes reported a 1-rig decrease for oil and gas in the United States this week, bringing the total number of active oil and gas drilling rigs to 1,067 according to the report, with the number of active oil rigs decreasing by […]

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02 November

Click here to view the article on the original web page at oilprice.com Oil prices continued to slide on Friday afternoon, despite a small decline in the U.S./Canadian rig count. (Click to enlarge) Friday, November 2, 2018 Iran sanctions are just days away but the market has come around to the idea that Iranian oil […]

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