+ ATB Financial – THE OWL … Daily Economic Comment
+ BP announced its 2015 CapEx Budget is US$20 billion, 20% lower than earlier floated
+ Conference Board of Canada published its Canadian Outlook – Winter 2015 ; Canada’s growth sliding due to decline in oil prices
+ Cordy Oilfield Services Inc. announced it is downsizing, selling equipment and closing branches due to downturn and debt issues
+ crude oil inventory build in Cushing, OK as shippers elect to hold oil there, subject to storage capacity, rather than shipping to the Gulf at today’s prices …
+ current energy prices: live link to Bloomberg.com commodities data ; natural gas steady, crude prices up yesterday for 3rd straight trading session on strength to OPEC demand forecasts
+ Elkwater Resources Ltd. announced its 2015 CapEx Budget is $11 million
+ European Union’s fuel quality directive issued this week WILL treat Canadian oilsands production the same as other sources
+ Gazprom cut its 2015 CapEx Budget to US$30 billion, down US$8 billion from 2014
+ Gran Tierra Energy Inc. cut its 2015 CapEx Budget to $140 million, down 55%
+ Long Run Exploration Ltd. announced its revised 2015 CapEx Budget is $100 million
+ Manitok Energy announced its 1st-half 2015 CapEx Budget is $3 million
+ National Money Mart Company closed its acquisition of The Cash Store Financial Services Inc.
+ NCSG Crane & Heavy Haul Corporation sub. acquired Energy Transportation LLC
+ Newalta Corporation cuts its workforce by 15% to save costs, laid off 180 staff
+ OPEC is lowering its crude oil output forecasts, expecting to put upward pressure on prices
+ Petrobras senior executives resigned in scandal-purge at the Brazilian firm
+ Prentice watch: the Premier was meeting in Washington, New York and New Jersey – lobbying for support for Alberta energy producers and Keystone XL Pipeline; meanwhile he is lobbying Alaska for a pipeline to get Alberta crude to tidewater via Alaska … while spring budget and election issues remain mostly media speculation .. but expect lots of belt tightening
+ Questerre Energy Corporation cut its head office personnel by 20%, reduced compensation of management and board
+ Saskatchewan’s Feb. land sale produced $17.54 million
+ Shape Properties have begun their re-make of the Deerfoot Mall property; to be renamed Deerfoot City – will double to 1.3 million sq. ft. by fall 2017 on the 80 acre site
+ Staples Inc. agreed to acquire Office Depot for US$ 6.3 billion
+ Suncor Energy is pressing ahead with its $13.5 billion Fort Hills mine development, expecting reduced labour and material costs due to market slowdown
+ Syncrude Canada Ltd.’s Mildred Lake Extension Project is going forward without the creation of new, additional or expanded tailings ponds
+ TORC Oil & Gas Ltd. agreed to acquire a portfolio of SE Saskatchewan light oil assets for $128 million
+ Veresen Inc.’s Jordan Cove LNG project is under review as FERC review of the project has been delayed until June
+ Weatherford International plc plans to cut 5,000 jobs of its 56,000 worldwide workforce
+ well licenses issued across Canada in January were at the lowest level (850) since Jan/99
+ worldwide rig count for Jan./15 was 3,300, down from 3,570 in Dec./14
