Royal Helium secures credit from Business Development Bank and Canadian Western Bank to build Alberta helium facility
Royal Helium Ltd. announced on Feb. 6 that binding commitment letters have been received and signed with the Business Development Bank of Canada (BDC) and Canadian Western Bank (CWB) acting pari passu for a non-revolving credit facility in the amount of CAD $15 million.
Whitecap closes three deals, two of which were in Saskatchewan
Whitecap Resources Inc. announced on Feb. 6 that it has closed all three previously announced dispositions of certain non-strategic assets for aggregate consideration of $419 million, including $394 million of cash, prior to closing adjustments, and producing assets that consolidate the working interest in one of its core assets.
Lithium in SK: Part 13: Coming into lithium with revenue already flowing from oil
REGINA – In this second part of the interview with ROK Resources president and CEO Cam Taylor on Jan. 26, where he explained some of the corporate aspects, including having cash flow already, NI 43-101, PEA, direct lithium extraction and drilling plans.
“We are a go” – DEEP’s geothermal power project near Estevan is going ahead this year
SASKATOON – After several years of drilling, testing, delineating and redesigning, DEEP Earth Energy Production Corp. is going ahead with construction of its first geothermal power project. It’s a project that promises emissions-free baseload power generation, using...
Caprice Resources wins Weyburn OTS Bonspiel
Here are some photos of the event. [fwduvp preset_id="brian"...
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Europe bans Russian diesel, other oil products over Ukraine
FRANKFURT, Germany (AP) — Europe imposed a ban Sunday on Russian diesel fuel and other refined oil products, slashing energy dependency on Moscow and seeking to further crimp the Kremlin’s fossil fuel earnings as punishment for invading Ukraine.
The ban comes along with a price cap agreed by the Group of Seven allied democracies. The goal is allowing Russian diesel to keep flowing to countries like China and India and avoiding a sudden price rise that would hurt consumers worldwide, while reducing the profits funding Moscow’s budget and war.
Lithium in SK, Part 12: Hub City Lithium shows promising results northeast of Weyburn
REGINA – About 11 kilometres east of Weyburn on Highway 13, and about 4 kilometres north, Hub City Lithium has been testing for lithium. And the results announced on Jan. 26 are among the highest announced in Saskatchewan to date.
Hub City Lithium of Regina has sampled two wells there last year. And on Jan. 26, the company announced its test results of its second well. The company has also drilled a well in the Viewfield areas, whose results have not yet been disclosed.
Podcast: Dr. Jordan Peterson talks energy and climate change with former BP chief scientist Dr. Steven Koonin
In a podcast entitled Unsettled: Climate and Science, clinical psychologist and one of Canada’s leading intellectuals, Dr. Jordan Peterson, spoke with Dr. Steven Koonin. The podcast starts off talking about many of the realities of the “energy transition,” and gets better from there.
SaskPower provides a lot more detail for possible small modular reactor locations, with Rafferty and Lake Diefenbaker showing most promise
REGINA – SaskPower put out a blog post on Feb. 2 that provided a lot more clarity about where the Crown utility might build its first two nuclear reactors. This is the first refinement released to the public since SaskPower announced last year its first initial areas of focus, in the Elbow and Estevan areas.
G-7, Europe reach deal for price cap on Russian diesel
U.S. Treasury Secretary Janet Yellen said Friday that industrialized countries in the Group of Seven are imposing a price cap on refined Russian oil products such as diesel and kerosene, as part of a coalition that includes Australia and a tentative agreement from the European Union.
The cap follows similar price limits put on Russian oil exports, with the goal of reducing the financial resources Russian President Vladimir Putin has to wage the nearly year-long war in Ukraine.
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Boundary Dam hits 5 million tonnes CO2 captured, Aquistore hits 500,000 tonnes stored
The Boundary Dam Unit 3 Integrated Carbon Capture and Storage Project hit a milestone in recent days, as did the associated Aquistore project, which is administered by the Petroleum Technology Research Centre (PTRC).
Texas power woes linger as deep freeze covers New England
By Ken Miller And David Sharp in Austin The mayor of Austin, Texas, responded to mounting criticism and apologized Friday for a lack of communication with residents as a winter storm coated the city in ice and cut power — and heat — to thousands of residents for days....
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
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.
TC Energy raises expected cost of Coastal GasLink project to $14.5 billion
The estimated cost of the Coastal GasLink pipeline has increased by 29 per cent to $14.5 billion, as the company behind the project continues to be dogged by unexpected construction issues and rising labour costs.
Calgary-based TC Energy Corp. released the new price tag, up from an earlier estimate of $11.2 billion, for the project on Wednesday.
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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.”
Alberta landowners fear repeat of orphan well crisis as renewable energy booms
By Amanda Stephenson in Calgary Once bitten, twice shy. It's an old adage that explains why Jason Schneider, the elected reeve of Vulcan County, Alta., is jittery about the renewable energy boom under way in his province. Like many in rural Alberta, Schneider is still...
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).
Brian Zinchuk: A big deal in the Bakken for Saturn reminds us that all of this has happened before, and will happen again
Back in 2008, when I was being recruited to become editor of Pipeline News, the Bakken oil play in southeast Saskatchewan was all the rage. That year, the largest Crown land sales in Saskatchewan history totalled over a billion dollars, and that doesn’t even count the...
Carlyle Oilman’s Bonspiel Feb 10-12.
CARLYLE – The Carlyle Curling Club is holding its 17th Annual Oilmens Bonspiel Feb. 10-12.
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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’
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.”
FortisBC Holdings Inc. signs agreement with First Nation over B.C. LNG project
FortisBC Holdings Inc. says it has signed a deal with a First Nation in British Columbia over the Tilbury liquefied natural gas expansion projects.
The subsidiary of utilities company FortisInc. says it will collaborate with the Snuneymuxw First Nation on the expansion of the Tilbury LNG facility in Delta, B.C., and related projects.
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 – 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...