Brian Zinchuk: How significant is Crescent Point’s attention turning from Saskatchewan to Alberta?
Earlier this week, I posted a significant story entitled, “Once Saskatchewan’s largest oil company, Crescent Point plans to spend 70% of its capex in Alberta.” One person online wondered about its significance. And indeed, he had a point. After all, what has Crescent Point meant to Saskatchewan?
It turns out, a lot. So let me lay out some context for the average Saskatchewan resident:
Once Saskatchewan’s largest oil company, Crescent Point plans to spend 70% of its capex in Alberta
CALGARY – It wasn’t that long ago that the vast majority of Crescent Point’s capital spending took place in Saskatchewan. But those days are long gone, as the company projects 70 per cent of its future capital spending will be in Alberta’s Duvernay and Montney plays.
On Sept. 11, Crescent Point announced its budget for 2024 as well as it’s five-year outlook, and one thing is clear: the company which used to spend nearly all of its budget in Saskatchewan is now spending most of it in Alberta, and will continue to do so.
NDP wants Suncor CEO to tell MPs why company moving away from focus on clean energy
NDP MP Charlie Angus will ask the natural resources committee to summon the CEO of oilsands giant Suncor when the House of Commons resumes next week.
Pierre Poilievre will push LNG, SMRs and continued oil production
Conservative Leader Pierre Poilievre took some time to speak about energy during his keynote speech to the Conservative national policy convention in Quebec City on Sept. 8.
In those comments, he spoke about natural liquefaction extensively, as well as small modular reactors, hydroelectricity, tidal power and oil production. He mentioned more wind power, but did not speak of solar power generation. He also referred to producing minerals for electrification in Canada instead of China. This was an oblique reference to lithium, without actually mentioning lithium.
Steven Guilbeault attacks Pierre Poilievre on whether climate change is real
Federal Minister of the Environment and Climate Change Steven Guilbeault took a shot at Conservative Leader Pierre Poilievre and his climate change policies on Friday, Sept. 8, hours before Poilievre addressed the Conservative convention in Quebec City.
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German lawmakers approve a contentious plan to replace fossil-fuel heating
The legislation calls for newly installed heating systems in new housing developments to be at least 65% fueled by renewable energy starting in January. It allows for existing heating systems to keep running and be repaired, with several-year transition periods before the new rules apply to older buildings.
Cenovus calls Trans Mountain’s desire for a blank cheque on cost overruns “commercially absurd”
It’s well known that the Trans Mountain Expansion project is way, way over budget. Now that the project is getting closer to completion, someone’s going to have to pay for all of that. Trans Mountain, a Crown corporation since the federal government purchased and nationalized both the company and the project, wants the shippers to pay for the exorbitant cost overruns. Cenovus Energy Inc., one of those shippers, basically told the Canadian Energy Regulator, “I don’t think so, buddy.”
DEEP receives positive report on viability of geothermal power project near Torquay
SASKATOON – Saskatchewan’s geothermal project got a significant boost, with a report from a major consulting firm that their project should fly.
Greek shipper pleads guilty to smuggling Iranian crude oil and will pay $2.4 million fine
DUBAI, United Arab Emirates (AP) — A Greek shipper has pleaded guilty to a charge over it smuggling sanctioned Iranian crude oil and agreed to pay a $2.4 million fine, U.S. federal court papers seen Thursday by The Associated Press show.
Biden administration cancels remaining oil and gas leases in Alaska’s Arctic Refuge
JUNEAU, Alaska (AP) — In an aggressive move that angered Republicans, the Biden administration canceled the seven remaining oil and gas leases in Alaska’s Arctic National Wildlife Refuge on Wednesday, overturning sales held in the Trump administration’s waning days, and proposed stronger protections against development on 13 million acres in the National Petroleum Reserve-Alaska.
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Texas electrical grid has its holy crap moment as reserves bottom out and frequency drops, resulting in “Energy Emergency Alert 2”
Texas went into “red alert,” with the grid in peril of going dark. It got pretty close.
Brian Zinchuk on John Gormley live: Oil prices are high, but drilling isn’t, and dramatically more nuclear power under consideration
Pipeline Online editor and owner Brian Zinchuk talks to John Gormley on CJME/CKOM covering a wide range of oil and power topics.
Despite the best oil prices since November, only 33 drilling rigs are working in Saskatchewan
With oil prices the highest they’ve been since November, 2022, drilling activity in Saskatchewan is not exactly flourishing. According to RiggerTalk.com, which publishes data from the Canadian Association of Energy Contractors, there were 33 rigs working in...
California regulators approve more gas storage capacity at the site of the worst US methane leak
LOS ANGELES (AP) — California regulators on Thursday approved a controversial proposal to greatly increase storage capacity at the site of the nation’s largest known methane leak, which sickened thousands of families and forced them from their Los Angeles homes in 2015.
Energy Transition Podcast, Episode 79: Exxon predictions for Energy
Armando Cavanha, Tammy Nemeth, Irina Slav and David Blackmon dig into Exxon’s predictions for energy. As one of the largest oil companies on the planet for decades, maybe they know a thing or two?
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Israel’s prime minister pitches fiber optic cable idea to link Asia and the Middle East to Europe
Even Israel and Cypress are getting into the LNG game, with their own proposed energy corridor.
You win some, you lose some. Helium Evolution reports drilling and abandonment of fifth farmout well
Helium Evolution’s continuing its farm-in strategy with Saskatchewan helium leader North American Helium (NAH), having just drilled their fifth well together. However, that well didn’t work out too well, so to speak.
Oil and gas sector says new data shows it can both hike output and lower emissions
By Amanda Stephenson in Calgary Canada's oil and gas sector is pointing to new government numbers that it says proves the industry can increase production and lower emissions at the same time. The analysis by industry group Canadian Association of Petroleum...
Whitecap to buy CO2 from SaskPower until 2035, providing market for SaskPower’s BD3
What’s the future of coal-fired power generation in Saskatchewan? At least another 11 years.
That’s according to the announcement of carbon dioxide purchase agreement Whitecap Resources Inc. and SaskPower, announced by Whitecap on Aug. 31.
Patchwork Podcast: Dustin Newman from Original Oil
The New Lloydminster Nissan Patchwork Podcast this week features Kurt Price speaking to Dustin Newman from Original Oil. Dustin grew up on a farm near Hillmond, SK, and ended up as an engineer.
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Rule allowing rail shipments of LNG will be put on hold to allow more study of safety concerns
A Trump-era rule allowing railroads to haul highly flammable liquefied natural gas will now be formally put on hold to allow more time to study the safety concerns related to transporting that fuel and other substances like hydrogen that must be kept at extremely low temperatures when they are shipped, regulators announced Thursday.
Feds fork over $30 million for 1,500 EV chargers in Quebec
QUEBEC CITY – In its unending quest to rid Canada of the gasoline-fueled automobile and replace it with the battery-driven one, Minister of Energy and Natural Resources dished out $30 million in Quebec for new electric vehicle chargers on Aug. 30.
Sometimes you just have to read the press release verbatim. Here it is:
Lower oil and potash prices and sales impact provincial revenues, but surplus still intact
Lower potash and oil prices have put a half-billion dent into Saskatchewan’s budget forecast, but the province is still forecasting a $485.5 million surplus at first quarter and intends on retiring up to $1 billion in operating debt remains on track.
Another hot day in Texas, another electrical grid alert warning
Despite being home to some of the best energy resources on the planet, the Texas electrical grid once again issued a grid alert, also referred to as a “conservation appeal,” on Wednesday, Aug. 30. This was was the second day in a row for the Lone Star State, and the eighth over the last two weeks, according to the Houston Chronicle. According to the grid operator’s X account, similar grid alerts occurred on Aug. 17, 23, 24, 25, 26, 27, 29 and 30.
Saskatchewan Research Council: SRC helps move helium forward in Saskatchewan with liquefaction options
Critical minerals provide the materials needed for nearly every aspect of our day-to-day life and are becoming increasingly important for growing a prosperous future. Canada’s recently announced Critical Minerals List highlights 31 minerals and metals that are crucial for green energy, technology, transportation and healthcare. Saskatchewan’s own Critical Minerals Strategy focuses on the critical minerals found in the province including potash, uranium, rare earth elements and a has a strong focus on helium.