Canadian Insight

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Updated on Friday, December 08, 2017

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New innovations conversion plant to be constructed near Calgary  — December 4, 2017

Greyrock Energy announced that it will construct a commercial gas to liquids plant at Carseland, Alberta, near Calgary. The project will incorporate Greyrock’s ‘Direct Fuel Production System and Grey Cat’  catalyst.

The conversion plant will use natural gas to produce  natural gas liquids as feed stocks for making premium grade diesel and naphtha.  The diesel is a zero sulfur product with a very high cetane rating and superior lubricity.

The advanced fuel can easily be blended with regular diesel to reduce emissions.  The product will also improve fuel economy, enhance vehicle performance and extend engine life.


Federal Natural Resources Minister  wants to establish a Standing Panel  —  November 30, 2017

Honorable Jim Carr announced that he wants to see an establishment of a Standing Panelwhich would oversee compliance issues after a project has been approved by the NEB.

The Federal Natural Resources Minister is responding to continued delays which have been preventing the twining of the TransMountain pipeline.

Provincial and municipal governments in British Columbia have stalled the pipeline project on the pretense that Kinder Morgan is not following provincial and municipal regulations and bylaws.

Minister Jim Carr commented, “The Government has taken an important step to ensure that when a natural resource project is approved, it proceeds in a timely fashion and continues to generate economic benefits for all Canadians.

The Government is supportive of establishing a process that would assist in resolving any conflicts over the issuance of municipal or provincial permits and avoid unnecessary delays to project construction or regulatory compliance."

Fraser Institute ranks British Columbia as least attractive Canadian province to invest in  — November 28, 2017

A study done for the Fraser Institute now ranks British Columbia as the least attractive province in Canada for natural gas and oil investment.

Since the socialist government got elected last May, British Columbia has plummeted to the bottom of global rankings. Prior to the election, British Columbia was rising to become the most favorable province to invest in.

Alberta,  once the leading province for oil and gas investments, has fallen to the middle of the pack. With the election of Rachel Knotely and her socialist  government, higher taxes is turning away investors.

Newfoundland and Saskatchewan have now risen to the top of the pack for oil and natural gas investors. 

"Investor confidence matters, and having a government that's openly hostile to resource development has apparently sent a chill throughout the oil and gas industry," said Kenneth Green, senior director of the Fraser Institute's Centre for Natural Resources and co-author of the 2017 Global Petroleum Survey.


TransCanada Corporation asks Nebraska state regulators to reconsider last minute route change — November 28, 2017

TransCanada Corporation has asked the Nebraska state regulators to reconsider the original route plan proposed in the application.

While the Nebraska Public Commission approved the pipeline, it also directs that the pipeline route be changed to its suggestion.

Changing the pipeline route will not only increase the distance and total cost of the project but it is feared that this may open the project for legal challenges and further delays. 


Keystone XL Pipeline passes final hurdle — November 20, 2017

After nine years of uncertainty and road blocks, TransCanada Corporation has all of the necessary approvals to build the Keystone XL Pipeline.

The Nebraska Public Service Commission has approved the 830 million barrel per day pipeline project. It is reported that TransCanada will have to adhere to an alternate route than the one initially submitted. The route takes a longer distance and will be more expensive to build. It is not known whether TransCanada will pursue due to the extra costs.

Nebraska was the last state to hold out on a decision and held the most resistance from landowners and environmentalists.

The decision came just four days after TransCanada reported a 5,000 barrel leak in northeastern South Dakota. Indications are that the pipeline leak may have been a result of sabotage and a last ditch effort to thwart the project.

Russ Girling, TransCanada's president and chief executive officer, commented, “As a result of today's decision, we will conduct a careful review of the Public Service Commission's ruling while assessing how the decision would impact the cost and schedule of the project.”


Climate Plans a financial burden with little  results or benefits — November 16, 2017

A comprehensive study, conducted for the renown Frasier Institute, concludes that federal and provincial government climate plans will be of little or no benefit  and at a huge costs to the public.

The study points out Alberta’s climate action plan as one example; it’s the most expensive in Canada, and is projected to cost $5.4 billion over the next three years. That works out to  an average of $3,600 per household in Alberta.

Another example, Ontario's ‘Cap and Trade Program’ , which is expected to cost $1.9 billion a year (or $365 per household annually). This is in addition to increased hydro costs which are  highest in the country. This is largely because of Ontario's Green Energy Act.

The study concludes that climate action plans will be very costly and will likely yield much fewer environmental benefits than projected.  They all share flawed features based on energy efficiency programs (so-called green building codes), electric car subsidies and renewable power schemes (solar, wind, etc.). These have all fallen short of their projected benefits in countries that have implemented similar policies and programs

Kenneth Green, Fraser Institute's senior director of energy and natural resource studies, concluded, "Across the country, ineffective climate policies will cost taxpayers billions with little to show for it. Policymakers cannot use theoretical models to justify the benefits of climate action initiatives and then ignore all the characteristics of such models when designing actual policy."


Syncrude soon to change top executive position — October 27, 2017

Syncrude Canada limited announced that it will soon be changing its top management executive. President and CEO Mark Ward will be retiring on December 11, 2017 and will be replaced by Doreen Cole.

Mark Ward has worked for over 40 years in the oil and gas industry around the world. He has been employed by oil and gas companies in United States, Venezuela, Indonesia, Qatar, Nigeria and Canada.

Ward commented, “  The oil sands is an exciting and challenging business. But the quality of people here is what stands out and that's what I'll miss most. There are many examples of employees pulling together to meet a common goal, but I'm most proud of how Syncrude responded during the 2016 wildfire. As an organization, Syncrude employees showed their commitment to doing what's right by supporting each other and our communities while also protecting our business through a successful safe park and subsequent restart."

The soon to be CEO and President, Doreen Cole,  has most recently been employed as Suncor's Senior Vice President, Regional Maintenance and Reliability, based in Fort McMurray. She began working for Suncor in 2014 and prior to that was employed by EPCOR's Electricity division in Edmonton.

Syncrude was formed as a research consortium in 1964. Construction at the Syncrude site began in 1973  and production began initial production in 1978. Present participating partners are Imperial Oil Ltd., Mocal Energy Ltd., Nexen Oil Sands and Sinopec Oil Sands Partnership and Suncor Energy Inc.









Our most recent ‘Shouts & Toots’  from the Oil Patch  — December 8, 2017

Ackroo Inc. ( AKR: TSXV) announced on December 8th that they have added another multi-location gas station chain putting the total amount of petroleum merchant locations Ackroo supports at more than 850. With the Company's most recent acquisition of LoyalMark, which added more than 750 petroleum locations to Ackroo, the company will now have an additional focus on this segment going forward which consists of quick lube and gasoline retailers.

Steve Levely, chief executive officer at Ackroo commented, "Our acquisition strategy includes not only gaining customers, technology and talent but also helping us gain better penetration into markets like oil and gas. We see this segment as a very large area for organic growth for the Company and we plan to put great focus in 2018 on further developing in this area. What's most exciting for this current win is that not only do we have a growing petroleum client base to keep learning and growing from but this account was brought forth by LoyalMark staff that recently joined Ackroo. We not only acquired a merchant base that we will develop and grow we also gained a healthy list of prospective accounts that is already converting into new business for Ackroo. This will lead to even greater organic growth for the company in the years ahead and creates even more confidence that we will not only meet our goals for 2018 but will potentially exceed them."

Ackroo is an Ottawa based company which provides an in-store and online automated solution in marketing services. Company has a market cap of $4.7 million and approximately 39 million shares outstanding.

Pinedale Energy Limited (MCF:TSXV) announced on December 8th an update on 2017 development and exploration activities occurring at the company's non-operated working interest properties situated in the Pinedale gas field area, southwest Wyoming.

In its first 30 days of production Warbonnet 9-23-A-1H has produced 1.1 billion cubic feet of natural gas equivalent. Warbonnet 9-23-A-1H had a 24-hour maximum initial production rate of 51 MMcfe/d and a 30-day average initial production rate of 36 Mmcfe/d. Warbonnet 9-23-A-1H was flowing at a rate of 47 MMcfe/d (7% field condensates) at the beginning of December.

Pinedale Energy Limited is an independent oil and gas exploration and production company focused exclusively on its natural gas properties situated in the prolific Pinedale field area, within the Green River Basin of southwestern Wyoming. Pinedale has a market cap of $8.4 million and approximately 18 million shares outstanding.

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Africa Energy Corp. (AFE:TSXV) announced on December 7th that Company's Chairman, Ashley Heppenstall, and the Chief Executive Officer, Garrett Soden, will be presenting to investors and shareholders at a town hall meeting in Stockholm, Sweden on Wednesday, December 13, 2017, at 18:30 Central European Time (CET).

The town hall meeting will be held at Näringslivets Hus on Storgatan 19 in Stockholm (lokal Wallenbergaren). Investors and shareholders may confirm their attendance by contacting Katarina Vorontsov by Tuesday, December 12, 2017.

For further information see company's website

Africa Energy Corp. is a Vancouver based Canadian oil and gas company with an exploration and production portfolio across Africa. Company has a market cap of $53 million and approximately 319 million shares outstanding.

Ballard Power Systems (BLDP:TSX) announced on December 7th that a subsidiary of strategic partner Zhongshan Broad-Ocean Motor Co., Ltd. has commissioned its fuel cell engine manufacturing facility located in the City of Shanghai, China. Shanghai Edrive will assemble Ballard FCveloCity fuel cell engines at the facility. Broad-Ocean also plans to assemble Ballard-designed engines at facilities in Hubei and Shandong Provinces.

Randy MacEwen, Ballard President and CEO commented, "Commissioning of Shanghai Edrive's facility is an important step in our strategy to localize production in China, as the market for fuel cell-powered heavy duty applications – including buses and commercial trucks – heats up in China. And, this timing dovetails with the recent roll-out of the Shanghai Fuel Cell Vehicle Development Plan, a ground-breaking initiative for large-scale vehicle deployment. The Plan includes annual production targets of 3,000 fuel cell electric vehicles by 2020 and 30,000 fuel cell electric vehicles by 2025."

Shanghai Edrive's fuel cell engine manufacturing facility is over 50,000 square feet and has a capacity to manufacture and test several thousand engines annually. Ballard has provided training to Shanghai Edrive to ensure consistent manufacturing build quality and engine performance.

More information may be found on the company's website .

Ballard Power Systems is a Greater Vancouver Canadian company focused on fuel cell development and employment. Company has a market cap of $1.1 billion and approximately 177 million shares outstanding.

Enbridge Inc. (ENB:TSX) announced on December 7th that it has closed its previously announced private placement of 33,456,003 common shares for gross proceeds of approximately CDN$1.5 billion on December 6, 2017.

For further information see company website .

Enbridge Inc. is a Calgary based energy infrastructure company with an extensive network of crude oil, liquids and natural gas pipelines, regulated natural gas distribution utilities and renewable power generation. Company has a market cap of $81 billion and approximately 1.7 billion shares outstanding.

Kinder Morgan Canada Limited (KML:TSX) announced on December 7th that it has entered into an agreement with a syndicate of underwriters who have agreed to purchase from the company, 8,000,000 cumulative redeemable minimum rate reset preferred shares, Series 3 at a price of $25.00 per share for distribution to the public.

Company has granted to the Underwriters an option, exercisable at any time up to 48 hours prior to the closing of the offering, to purchase up to an additional 2,000,000 Series 3 Preferred Shares at a price of $25.00 per share.

Company intends to use the proceeds from the offering to indirectly subscribe for preferred units in Kinder Morgan Canada Limited Partnership, which intends to subsequently use such proceeds to, directly or indirectly, finance the development, construction and completion of the Trans Mountain Expansion Project and Base Line Terminal project as well as potential future growth opportunities, to repay indebtedness and for general corporate purposes.

Kinder Morgan Canada Limited is based in Calgary and operates a business, comprising a number of pipeline systems and terminal facilities including the Trans Mountain pipeline, the Canadian portion of the Cochin pipeline, the Trans Mountain Puget Sound pipeline, Trans Mountain Jet Fuel pipeline, the Westridge Marine and Vancouver Wharves terminals in British Columbia as well as various crude oil loading facilities in Edmonton, Alberta. Company has a market cap of $1.7 billion and approximately 103 billion shares outstanding.

Pembina Pipeline Corporation (PPL:TSX) announced on December 7th that it has closed its previously announced public offering of cumulative redeemable minimum rate reset class A preferred shares, Series 21 for aggregate gross proceeds of $400 million.

The Offering was announced on November 28, 2017 when Pembina entered into an agreement with a syndicate of underwriters. A total of 16,000,000 Series 21 Preferred Shares, which includes 4,000,000 Series 21 Preferred Shares issued pursuant to the exercise of the underwriters' option, were sold under the Offering.

Company intends to use the net proceeds from the Offering to reduce indebtedness of the company under its credit facilities. The indebtedness of the company under the credit facilities was incurred in the normal course of business to fund the company's capital program, and to fund a portion of the cash consideration payable to former common shareholders of Veresen Inc.

Dividends on the Series 21 Preferred Shares are expected to be $1.225 per share annually, payable quarterly on the 1st day of March, June, September and December, as and when declared by the Board of Directors of Pembina, for the initial fixed rate period to but excluding March 1, 2023. The first dividend, if declared, will be payable March 1, 2018, in the amount of $0.2819 per share.

Pembina Pipeline Corporation is a Calgary based energy transporter. Pembina owns and operates an integrated system of pipelines that transport various products derived from natural gas and hydrocarbon liquids produced primarily in western Canada. Company has a market cap of $22.5 million and approximately 503 million shares outstanding.

More news on Oilpatch Review

Today’s Inspirations

“Wrinkles should merely indicate where smiles have been.”

Quotes are directly taken from a book entitled, ‘Phrase A Day Inspirations’, written by Bernie Shimko. ‘Canadian Insight’ wishes to thank Bernie and his wife Adeline for permitting the use of their inspiring quotes.



 Did you know?

The U.S. military consumes more oil than Sweden, Portugal, or the Philippines and twice as much oil as the entire nation of Ireland. It is estimated that the American military uses 340,000 to 350,000 barrels of oil per day. In 2008, the Pentagon spent over $15 billion on its fuel bill and in 2009, it requested the government for an additional $3 billion.


prices compiled and updated on a regular basis by Canadian Insight

















St. John’s



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     WCS  / WTI

 Price Spread  -17.30

  December 8, 2017

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