Canada’s competition watchdog says Shell Canada Ltd. has agreed to divest some of its western assets to advance its $100 million deal to buy gas stations from an affiliate of grocery giant Empire Co. Ltd.
The Competition Bureau says it concluded the energy company’s plan to buy 56 gas stations from Sobeys Capital Inc. would likely lessen or prevent competition in three markets in Alberta and British Columbia.
To resolve the concerns, the bureau says Shell and its affiliate Canadian Mobility Services Ltd. will divest assets in Brooks, Alta., and in Fort St. John and Mission, B.C.
The bureau say Commissioner of Competition Matthew Boswell is satisfied that the divestment agreement will address the competition issues that were likely to result from the proposed transaction.
Family-owned investment firm Danos Ventures (DV) is actively seeking acquisition opportunities in the energy sector. DV is building a diverse strategic portfolio that increases its ability to service customers and provide career development opportunities for employees.
Recently, DV acquired Wood’s offshore labor supply Gulf of Mexico operations. The investment expands Danos LLC‘s footprint in the Gulf of Mexico and increases customer support capabilities and growth opportunities for its 2,700 employees. In addition, the company successfully completed the divestiture of Danos’ Permian-based roustabout services, freeing up resources that DV will invest in future endeavors.
“We see tremendous opportunities for sustainable growth in both traditional and alternative energy,” says Eric Danos, CEO of DV. “The strategic acquisition of companies that complement or enhance our existing core capabilities positions us to have a meaningful impact for generations to come.”
Pipestone Energy Corp. Enters into Agreement to be Acquired by Strathcona Resources
Pipestone Energy Corp. (TSX: PIPE) (“Pipestone”) are pleased to announce that they have entered into a definitive agreement (the “Arrangement Agreement”), pursuant to which Strathcona will acquire all of the issued and outstanding common shares of Pipestone for 100% share consideration (the “Transaction”). Upon closing of the Transaction, Strathcona will become a public reporting issuer in Canada.
Dustin Hoffman, Pipestone COO and interim CEO, stated, “The acquisition of Pipestone by Strathcona reflects the successful culmination of growing and delineating our asset base over the past four years. This all-share transaction delivers shareholders ongoing exposure to one of the largest, well diversified, upstream producers in North America, which has the capacity to grow its production meaningfully over the next decade.”
Gord Ritchie, Chairman of the Board of Directors of Pipestone, commented, “We are excited to be combining Pipestone with Strathcona, creating a new Canadian oil and gas champion with long-life reserves, significant growth potential, and low sustaining breakevens. We are proud to have grown Pipestone from 152 boe / d to 35,162 boe / d in just four short years, and now the combination with Strathcona allows Pipestone shareholders to share in future growth and value creation for decades. This transaction is the culmination of a thorough strategic review conducted by the special committee of the board of the directors of Pipestone which concluded that the combination with Strathcona created the strongest value creation opportunity for Pipestone shareholders versus both the status quo and other available alternatives.”
How is New Mexico Influencing Federal Oil and Gas Air Pollution Policy?
National policy on controlling air pollution from oil and gas could be modeled after New Mexico’s recently enacted rules targeting the release of the greenhouse gas from operations throughout the state.
In 2021 and 2022, the State enacted regulations at its Energy, Minerals and Natural Resources (EMNRD) and New Mexico Environment (NMED) departments intended to curb pollution resulting from methane’s release into the air.
The EMNRD rules targeting waste of the methane, a key component of extracted natural gas used for electricity and power generation, requiring operators to capture 98 percent of the gas by 2026.
Big Oil Continues To Be Pushed Toward Greener Endeavors
Last year, Big Oil made record profits that got stuck in the throats of governments, activist organizations, and international bodies such as the UN and the IEA.
Yet those same governments practically encouraged these profits by subsidizing fuels to avoid even higher inflation and all the problems that such a development would have produced.
In 2022, with demand for energy roaring back after the pandemic and Russia’s invasion of Ukraine, the consequent gas supply squeeze, and fears of a similar oil squeeze, the target that Big Oil had painted on its back temporarily disappeared. Energy security temporarily became more important than decarbonization.
That era is over, according to some analysts. Now, the pressure on Big Oil to decarbonize is going to increase.
The World Needs More Than Intermittent Electricity from Wind and Solar
Wind and solar manufacture nothing for the eight billion on this planet as they can only generate intermittent electricity from unreliable breezes and sunshine.
The transition to occasional electricity generation from breezes and sunshine has proven to be ultra-expensive for the wealthy countries of Germany, Australia, Great Britain, and the USA representing 6 percent of the world’s population (508 million vs 8 billion).
Those four wealthy countries now have among the highest cost for their electricity, while the poorer developing countries, currently without the usage of the 20th century products made from the oil derivatives manufactured from crude oil, are experiencing about 11,000,000 child deaths every year due to the unavailability of the fossil fuel products used in wealthy countries.
On September 18, 2023 The Crude Life will host it’s Fourth Annual Podcast Party at the Energy Exposition being held in Jackson Hole, Wyoming. This year, three energy producing state governors will be joining us.
The Energy Exposition has educated tens of thousands of people in Gillette, Wyoming; Billings, Montana, and Loveland, Colorado, over the last 20 years on procedures, technology, safety, environmental practices, and equipment used in the oil and gas industry.
Exhibitors and Symposiasts represent a wide range of services, including but not limited to, exploration, production, downstream, and all phases of support to the oil and gas industry.
Energy Producing states Alaska Governor Mike Dunleavy, Oklahoma Governor Kevin Stitt and Wyoming Governor Mark Gordon will be attending this year’s expo and kick-off party.
To reserve Exhibit Space contact
Austin Jennings
239-898-3923
austin@energyexposition.com
For discounts and a special gift, use promo code OTIS
The Earth’s Champion Johnny Green (taking pic) is Cleanin’ and Johnny Greenin’ across America engaging with All Walks of Life.
The Greatest Environmentalist on Earth is spreading the word that “Renewables Ain’t Doable Without Fossil Fuelables”.
If you would like The Earth’s Champion Johnny Green and the 15-pounds of Eco-Authority to come to your event, school or town, contact The Crude Life for more info.
“All Energy Has A Purpose, And We Are All Energy,” Johnny Green reminds people of all ages.
Click here to read The Oilman Magazine’s feature on The Earth’s Champion Johnny Green
Click here to read Natural Gas Now’s feature on The Earth’s Champion Johnny Green
The Crude Life Daily Radio News & Lifestyle Update
Curtis Shuck, chairman of the board, Well Done Foundation, explains talks about an upcoming issue with abandoned wells.
The Crude Life Daily Update has been running as a 3-minute news and lifestyle short on radio stations since 2011. In 2015 online podcast portals and news outlets were added to the list of distributors.
Expert interviews, news updates and multimedia crossovers available upon request.
If you have a news release, energy innovation, story idea, community lifestyle feature, guest, music band or show topic requests, email studio(at)thecrudelife(dot)com
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About The Crude Life
Award winning interviewer and broadcast journalist Jason Spiess and a team of Content Correspondents engage with the industry’s best thinkers, writers, politicians, business leaders, scientists, entertainers, community leaders, cafe owners and other newsmakers in one-on-one interviews and round table discussions.
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Abandoned Wells, Danos Ventures, Shell's Gas Stations and Pipestone Energy