Saturn Oil & Gas drilled 57 wells in 2022
Saturn Oil & Gas Inc. announced results from its 2022 capital expenditure program and operational highlights on Feb. 13, most of which was in Saskatchewan.
The 2022 capital program totaled approximately $89.1 million with 80 per cent of expenditures directed to horizontal drilling in Saturn’s two operational areas, the Oxbow Asset in southeast Saskatchewan, and the Viking Asset in west-central Saskatchewan. The balance of capital expenditures was invested in facilities improvements, workover and optimization projects and acquiring land.
TC Energy increases dividend, reports Q4 loss due to rising costs of Coastal GasLink
TC Energy Corp. expects to be able to indicate this summer whether it will complete the Coastal GasLink pipeline by its end-of-year target or not.
The Calgary-based pipeline company, which has been dogged by unexpected construction issues and rising labour costs for the project, said earlier this month that it has raised the estimated cost of the pipeline to $14.5 billion, up from an earlier estimate of $11.2 billion.
Imperial Oil files cleanup plan for tailings leak in Alberta, won’t disclose details
Imperial Oil Ltd. has filed a plan for the interim cleanup of one of the largest oilpatch spills in Alberta history but hasn’t released any details on the plan or the two toxic releases at its Kearl oilsands mine.
“(The plan) was submitted on Friday,” confirmed Imperial spokeswoman Lisa Schmidt in an email Monday.
Ottawa moves to acquire land for Lac-Megantic rail bypass, 10 years after disaster
The federal government is moving to acquire land so that it can build a rail bypass in Lac-Megantic, Que., nearly 10 years after a downtown freight train derailment killed 47 people.
Transport Minister Omar Alghabra announced that he made the difficult decision to expropriate land after the failure of negotiations to purchase property from local landowners.
Precision Drilling reports $3.5M Q4 profit, revenue up more than 70 per cent
Precision Drilling Corp. saw its fourth-quarter revenue increase by 73 per cent year-over-year, as North American oil and gas drilling activity continues to pick up.
The Calgary-based company, which is Canada’s largest drilling rig contractor, reported a fourth-quarter profit Thursday of $3.5 million, compared with a loss of $27.3 million a year ago.
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