The Canadian province of Alberta’s OPEC-style decision to force production cuts is benefiting oil companies with higher prices, but it is also pushing capital elsewhere and threatens to undermine booming crude-by-rail shipments.
Kinder Morgan, which holds about 70% majority voting interest in Kinder Morgan Canada, has hired investment bank TD Securities to facilitate a potential sale of its Canadian business.
Husky Energy said Jan. 17 it will not extend its hostile bid for MEG Energy after failing to get sufficient support from the rival oil producer's board and shareholders.
The steps are being taken after BP drilled only one of the four wells it was required to drill within six years of the effective date of its exploration licenses for the land, the petroleum board said in a Jan. 15 news release.
Concurrent with its formation, the JV, SemCAMS Midstream, also agreed to acquire the Montney operating portfolio of Meritage Midstream ULC.
Canadian producer Crescent Point Energy cut its 2019 capital budget by 30% compared to last year, blaming the recent decline in oil prices.
Citigroup has hired Greg Saksida from TD Securities to head energy investment banking in Canada, according to an internal memo seen by Reuters.
Canada's energy regulator released draft revisions of conditions and new recommendations on Jan. 10 as part of the Trans Mountain oil pipeline expansion re-review, ordered last year after a Canadian court overturned the approval of the project.
New name will better reflect the company’s presence throughout North America, says CEO Girling.
The Chevron and Occidental deal marks the first significant investment by energy groups into the technology developed by Carbon Engineering, a Bill Gates-backed start-up based in Canada.