NEWS: Planning for Canada-U.S. treaty talks on Line 5 ‘well underway,’ Canada says
WASHINGTON — Planning is “well underway” for bilateral treaty talks between Canada and the United States in the dispute over the Line 5 pipeline, with formal negotiations expected to begin “shortly,” the federal government says in new court...
NEWS: MEG Energy CEO doesn’t expect Line 5 dispute to hurt ability to move heavy oil
CALGARY — The chief executive of MEG Energy said Tuesday he doesn't expect the ongoing dispute between Canada and the U.S. over the Line 5 cross-border pipeline to hurt his company's ability to move heavy oil to the U.S. Gulf Coast. On a...
NEWS: Alberta isn’t alone in facing climate challenge, says province’s COP26 representative
Alberta’s top representative to the global climate conference taking place in Scotland has a message to those in the province who feel singled out by the pressure to reduce greenhouse gas emissions. You are not alone. “I feel that too,” said Steve...
CAPP president says simplistic solutions don’t work for complex energy problems, speaks about COP26
CALGARY – Tim McMillan has led the Canadian Association of Petroleum Producers (CAPP) for seven years, a time period that precisely coincides with the longest downturn in the Canadian oilpatch in living memory. He is currently attending COP26, the United Nations...
NEWS: MEG Energy again increases annual production guidance after third-quarter results
CALGARY — MEG Energy Corp. boosted its output forecast for the year after swinging to a $54-million profit in its latest quarter on a doubling of revenues. The Calgary-based company said it earned 17 cents per diluted share in the third quarter,...
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Brian Zinchuk: Justin Trudeau won’t say “carbon dioxide” if he can help it
I noticed something while covering the COP26 the United Nations Climate Change Conference UK 2021 in Glasgow, and our prime minister’s participation in it. Prime Minister Justin Trudeau, and his office, don’t say “carbon dioxide,” anymore, if at all possible. Instead,...
NDP energy critic says feds should have consulted Saskatchewan on emissions cap for oil and gas
REGINA – On Nov. 1, Prime Minister Justin Trudeau told the world during the United Nations Climate Change Conference UK 2021 in Glasgow, Scotland, that Canada would “cap oil and gas sector emissions today, and ensure they decrease tomorrow, at a pace and scale needed...
NEWS: Alberta government unveils road map with goal of becoming hydrogen export superpower
EDMONTON — The Alberta government has...
NEWS: Pipeline company Enbridge reports $682-million third-quarter profit
CALGARY — Enbridge Inc. reported a third-quarter profit of $682 million, down from $990 million in the same quarter last year. The pipeline operator says the profit amounted to 34 cents per share for the quarter ended Sept. 30, down from 49 cents...
NEWS: Pipeline company TC Energy Corp. reports $779-million third-quarter profit
CALGARY — TC Energy Corp. reported a third-quarter profit of $779 million, down from $904 million a year ago. The pipeline company says the profit amounted to 80 cents per share for the quarter ended Sept. 30, down from 96 cents per share for the...
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NEWS: Baytex earns $32.7M, expects to generate record cash flow in 2021 as oil prices surge
CALGARY — Baytex Energy reported a third-quarter profit of $32.7 million and said it expects to generate record cash flow for the year thanks to surging commodity prices. The Calgary-based oil and gas company says it earned 35 cents per diluted...
NEWS: McMillan to step down as head of oil and gas lobby group CAPP
CALGARY — The Canadian Association of Petroleum Producers is looking for a new CEO. The Calgary-based oil and gas lobby group says its current president and CEO, Tim McMillan, will step down this spring. McMillan was head of the organization for...
Sask government provides incentives for CO2 pipelines; announcement comes after FCL/Whitecap MOU
As part of its push its efforts to support a carbon dioxide hub and distribution systems in Saskatchewan, particularly in the Regina and Lloydminster regions, the Government of Saskatchewan announced on Nov. 4 that pipelines transporting carbon dioxide (CO2), whether...
NEWS: Joint statement also prioritizes clean energy finance by end of 2022
GLASGOW, United Kingdom — Canada has joined the United States, United Kingdom and 21 other countries in a historic deal to stop new direct public finance for coal, oil and gas development by the end of 2022. The deal, signed at the COP26 climate...
Surge Energy picked up both Astra Oil and Fire Sky Energy in recent months
CALGARY – Surge Energy Inc. has been a busy of late, closing acquisitions of two of the more active junior oil producers in southeast Saskatchewan – Astra Oil Corp. and Fire Sky Energy Inc. On Nov. 3, Surge announced its third quarter earnings via press release. The...
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NEWS: Canadian Natural reports $2.2B Q3 profit, raises quarterly dividend
CALGARY — Canadian Natural Resources Ltd. raised its quarterly dividend by 25 per cent as it reported a third-quarter profit of $2.2 billion. The company says it will now pay a quarterly dividend of 58.75 cents per share. Canadian Natural's profit...
NEWS: Tourmaline reports $361 million third-quarter profit, record quarterly cash flow
CALGARY — Tourmaline Oil Corp. reported record cash flow and net earnings of $361.1 million in the third quarter of 2021. The Calgary-based company says it earned $1.10 per diluted share in the quarter, compared with $4.8 million or two cents per...
‘All of this is noxious and anti-energy,’ Saskatchewan energy minister responds to Trudeau capping oil and gas sector emissions
During the opening day the United Nations Climate Change Conference UK 2021 in Glasgow, Scotland, Prime Minister Justin Trudeau promised to “cap oil and gas sector emissions today, and ensure they decrease tomorrow, at a pace and scale needed to reach net zero by...
NEWS: Alberta, with largest oil industry, sends fewer to COP than any other energy province
EDMONTON — The province with Canada's largest oil and gas industry has sent one of the country's smallest delegations to the international climate conference, where emissions from that industry are under scrutiny. A preliminary list of the...
Cenovus pays debt, increasing dividends and share buybacks in Q3 earnings announcement
CALGARY – By lowering its debt, and with strong free funds coming in, Cenovus Energy Inc. is continuing the trend of large Canadian oil producers in increasing dividends and share buybacks. On Nov. 3 the company, Saskatchewan’s largest oil producer after its...
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NEWS: Democratic chair issues subpoenas to oil executives
WASHINGTON (AP) — The chairwoman of the House Oversight Committee issued subpoenas Tuesday to top executives of ExxonMobil, Chevron and other oil giants, charging that the companies have not turned over documents needed by the committee to investigate allegations that...
Two Steel Reef projects at North Portal qualify for processing incentive, will reduce venting and flaring of methane gas
On Nov. 2, the Government of Saskatchewan announced that two new oil and gas processing projects, undertaken by Steel Reef Infrastructure Corp., have been approved under the provincial Oil and Gas Processing Investment Incentive (OGPII). That incentive was introduced...
NEWS: US says oil, gas sales damage climate – but won’t stop them
BILLINGS, Mont. (AP) — The Biden administration is planning to sell oil and gas leases on huge tracts of public land in the U.S. West, despite the Interior Department's conclusion that doing so could cost society billions of dollars in climate change impacts....
NEWS: Calfrac Well Services reports Q3 loss, revenue more than doubles from year ago
CALGARY — Calfrac Well Services Ltd. reported a loss in its latest quarter as its revenue more than doubled compared with a year ago. The oilfield services company says it lost $1.5 million or four cents per diluted share for the quarter ended...
Verbatim press release from PMO announcing “enhanced and ambitious climate action to cut pollution at the COP26 summit”
Editor’s note: Sometimes it’s interesting to see exactly what sort of messaging politicians are trying to get across. This is the verbatim press release from the Prime Minister’s Office on Nov. 1, when he gave a speech in Glasgow, Scotland, at the United Nations Climate Change Conference UK 2021. In his address he said , “we’ll cap oil and gas sector emissions today, and ensure they decrease tomorrow, at a pace and scale needed to reach net zero by 2050. That’s no small task for a major oil and gas producing country. It’s a big step, that’s absolutely necessary.”