Three years ago, Teck was going to spend $20 B on its Frontier Oil Sands Project. Now it’s totally out of the oil sands, completing sale of Fort Hills stake

Three years ago, Teck was going to spend $20 B on its Frontier Oil Sands Project. Now it’s totally out of the oil sands, completing sale of Fort Hills stake

VANCOUVER — Teck Resources Ltd. says it has completed the sale of its 21.3 per cent stake in the Fort Hills oilsands mine to Suncor Energy Inc. and TotalEnergies EP Canada Ltd.

The Vancouver-based mining company announced last year that it would sell its stake in Fort Hills to Suncor, one of two other partners in the project, for about $1 billion.

Shell profit doubles to record as war drives up energy costs

Shell profit doubles to record as war drives up energy costs

LONDON (AP) — Global energy giant Shell said Thursday that its annual profits doubled to a record high last year as oil and natural gas prices soared after Russia’s invasion of Ukraine.

London-based Shell Plc posted adjusted earnings of $39.9 billion for 2022 in its financial results for the final three months of the year. Adjusted earnings in the fourth quarter, which exclude one-time items and fluctuations in the value of inventories, rose by 50%, to $9.8 billion, from the same period a year earlier.

Justice Minister Bronwyn Eyre releases statement on feds’ “Just Transition”

Justice Minister Bronwyn Eyre releases statement on feds’ “Just Transition”

“There are over 70,000 people directly and indirectly employed by our agriculture and energy sectors – sectors which are vital to not only our province, but also to our country and indeed the world. Our agriculture sector is the most sustainable in the world, producing more product and doing so with fewer emissions. The same goes for our energy sector, which continues to innovate the extraction and refinement of oil and gas, responsibly and ethically.”

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36 Drilling rigs working in Saskatchewan on Jan. 31

36 Drilling rigs working in Saskatchewan on Jan. 31

The next few weeks are usually the high point of drilling activity for the year. On Tuesday, Jan. 30, there were 36 drilling rigs working in Saskatchewan, according to RiggerTalk.com, which publishes data from the Canadian Association of Energy Contractors (CAOEC).

Quick Dick McDick: Combine to the Finish Line

Quick Dick McDick: Combine to the Finish Line

Quick Dick McDick brings us his  3rd instalment on how we grow oats in Saskatchewan! There’s one more to go after this. And holy crap, did you realize he has a brother, known as “The Dusty Wrench?” First time going through this video, I thought, man, that guy sure looks like Quick Dick. Guess I shouldn’t have forwarded through the important parts, eh? Does he have a sister with a beard, too?

David Yager: Qatar, Norway and ‘The Trouble with Canada’

David Yager: Qatar, Norway and ‘The Trouble with Canada’

That Germany has given up on Canada to supply liquefied natural gas (LNG) and instead signed a massive multi-year LNG purchase agreement with Qatar has left many angry and disappointed.  

Investment manager and perennial oil bull Eric Nuttall recently visited Qatar and Saudi Arabia and wrote an opinion piece for the Financial Post titled, “Canada could be as green and wealthy as Qatar and Saudi Arabia if government wakes up – Instead of vilifying the oil and gas sectors, Canada should champion them.” 

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North Dakota landowners at odds in carbon pipeline plans

North Dakota landowners at odds in carbon pipeline plans

North Dakota landowners testified for and against a carbon capture company’s use of eminent domain Friday, as Summit Carbon Solutions moves forward in constructing a massive underground system of carbon dioxide pipelines spanning 2,000 miles across several states and under hundreds of people’s homes and farms in the Midwest.

The proposed $4.5 billion carbon pipeline project would capture carbon dioxide emissions across neighboring states and deposit the emissions deep underground in North Dakota.

Weyburn OTS Open Bonspiel Feb 3-4

Weyburn OTS Open Bonspiel Feb 3-4

WEYBURN – The Weyburn OTS Open Bonspiel is taking place Feb. 3-4. The 24-team event is full as of Jan. 27, but organizer Rob Somerville said that it’s still possible to be put on a waiting list in case someone drops out. “We have a couple of different things this...

Imperial Oil gives OK to $720M renewable diesel project near Edmonton

Imperial Oil gives OK to $720M renewable diesel project near Edmonton

Imperial Oil Ltd. is going ahead with a $720-million project to build a renewable diesel facility at its Strathcona refinery near Edmonton.

The project, first announced in August 2021, is expected to produce 20,000 barrels per day of renewable diesel once it is complete.

That will make it the largest facility of its kind in Canada, upon its expected completion in 2025, and one of the largest renewable diesel complexes in North America. 

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The feds are looking for research projects on CCUS, and the PTRC has a lot they can offer

The feds are looking for research projects on CCUS, and the PTRC has a lot they can offer

Federal Minister of Natural Resources Jonathan Wilkinson announced on Jan. 25 an intake for “expressions of interest for carbon capture, utilization and storage (CCUS) research, development and demonstration (RD&D) projects and related science activities focused on carbon storage and transportation”

The Regina-based Petroleum Technology Research Centre (PTRC) has been heavily involved with such research for over 20 years. This includes the original research done on the Weyburn and Midale carbon dioxide-enhanced oil recovery projects that is now concluded, and ongoing work at the Aquistore project, part of SaskPower’s Boundary Dam Unit 3 Integrated Carbon Capture and Storage Project.

Oilsands execs say they can’t invest in decarbonization any faster, despite profits

Oilsands execs say they can’t invest in decarbonization any faster, despite profits

Oilsands executives insist they are all in on cutting emissions and will make big investments in green technology, but they maintain there isn’t a place to invest that money yet.

Many companies are coming off a year of windfall profits not because they pumped out more product, but because the war in Ukraine and global supply chain crunches pushed world oil prices way up.

Carbon capture, utilization and storage summit added to Williston Basin Petroleum Conference

Carbon capture, utilization and storage summit added to Williston Basin Petroleum Conference

REGINA – This spring’s Williston Basin Petroleum Conference has a new addition, with the Saskatchewan CCUS Summit. It comes at a time when interest is gathering steam.

CCUS stands for carbon capture, utilization and storage, and after literal decades of being implemented in Saskatchewan via the Weyburn and Midale Units, as well as Aquistore, the rest of the world is waking up to its promise.

Saskatchewan Research Council: How SRC is using metal smelting for rare earths

Saskatchewan Research Council: How SRC is using metal smelting for rare earths

Editor’s note: Often behind the scenes, the Saskatchewan Research Council has provided substantial fundamental research to support Saskatchewan business, including the energy industry. Their work in oil and gas, from pipeline labs to reservoir modelling, is significant. Pipeline Online has invited the SRC to submit an occasional column, and this is their first piece, focusing on a key emerging market for Saskatchewan, rare earth elements.

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ROK Resources closes southeast Saskatchewan deal, provides guidance for first half

ROK Resources closes southeast Saskatchewan deal, provides guidance for first half

On Jan. 24, ROK Resources of Regina announced that they had closed on land swap deal that had been announced on Dec. 19, 2022.

That announcement on Dec. 19 indicated that they were doing both an acquisition and a disposition with another company. In what is largely a land swap, they were acquiring 1,400 boepd production (69 per cent liquids) in southeast Saskatchewan, but selling 475 boepd (100 per cent liquids) of mostly non-operated properties in southwest Saskatchewan to the same company they were buying land from in the southeast. ROK was paying $26.5 million to the other party as part of the deal.

Brian Zinchuk: A big deal in the Bakken for Saturn reminds us that all of this has happened before, and will happen again

Saturn Oil & Gas acquires Ridgeback Resources in a deal that will be rockin’ in the Bakken

CALGARY – Saturn Oil & Gas Ltd. is continuing an exponential growth pattern through acquisitions.

At the close of the markets on Friday, Jan. 20, Saturn announced it was acquiring Ridgeback Resources Inc., one of the largest players in the Saskatchewan Bakken and Mississippian plays, which also has significant operations in three areas of Alberta. The deal is for $525 million.

1st small modular nuclear reactor certified for use in US

1st small modular nuclear reactor certified for use in US

The U.S. Nuclear Regulatory Commission has certified the design for what will be the United States’ first small modular nuclear reactor.

The rule that certifies the design was published Thursday in the Federal Register. It means that companies seeking to build and operate a nuclear power plant can pick the design for a 50-megawatt, advanced light-water small modular nuclear reactor by Oregon-based NuScale Power and apply to the NRC for a license.