Sub Arc Vessel Welder

The Sub Arc Vessel Welder will fit, align, and weld vessels that meet ABSA and Dynacorp’s standards. You will be able to read drawings and fit correctly without rework.

Industry expected to shed 24,400 jobs in 2016

A new report by PetroLMI, a division of Calgary-based Enform, predicts the oil and gas industry will continue to shed tens of thousands of jobs this year. The study said that the industry will not return to its 2014 employment peak even after the economy comes back. It predicts another 24,400 oil and gas jobs will be lost this year, …

Murphy Oil to make job cuts in Calgary

Murphy Oil has announced it will be making significant cuts at its Calgary office as well as throughout its worldwide operation. The company reduced capital spending by 75% in 2016 compared to the year before. “We’ve reduced headcount across all functions and in every location,” said spokeswoman Kelly Whitley. She added that the unknown number of cuts would be made …

Terra Energy shuts down after bank calls in loan

Terra Energy Corp., a Calgary-based energy producer, has shut down following an act from the bank seeking to recall a $15.9-million loan. Under the federal Bankruptcy and Insolvency Act, Canadian Western Bank flexed its right to recall the loan plus interest, costs and fees. The company has until Monday to repay. This crippling blow comes as the company was already …

Calgary Stampede canvas auction reflects oil patch lows

It is said that the state of Alberta’s oil and gas economy is reflected each year in one event: the Calgary Stampede Canvas Auction. Each year, companies bid on the advertising rights to the canvas covering the chuckwagons at the Calgary Stampede. When the economy is hot, bidding can reach record highs. This year, however, the auction raised just under …

Encana announces 20% workforce cut

Encana Corp. has announced it plans to cut its workforce by 20% this year. Last year, the company already laid off 19% of its employees. It’s expected another 500 employees will be released over the course of 2016. “The job reductions not only at Encana but across the industry have been as severe as I’ve ever seen in 33 years,” …

Prime Minister Trudeau arrives in Alberta

Prime Minister Justin Trudeau will arrive in Alberta on Wednesday to address the ailing economy in the province. Despite his visit, it’s not expected Trudeau will be able to make any promises to Albertans until the federal budget in March. Assistance to the province could include employment insurance changes or a financial stability program. He’s scheduled to spend time in …