Precision Drilling is slashing its monthly cash distribution

first_imgNevertheless, it remains very volatile and, is still more than 100 dollars a barrel less, than what it was last July. From the oil patch today, there’s another sign of the difficult economic times.According to the National Post, Calgary-based Precision Drilling Trust, Canada’s largest drilling firm, is slashing its monthly cash distribution for January by more than two-thirds.It is citing a sharp reduction in {U.S.} rig demand, resulting from the steep decline in energy commodity prices over the past three months.- Advertisement -In a prepared statement the company said today, it will pay unit holders this month, only four cents per trust unit, down from 13 cents in December.It says it has turned its focus toward stengthening its balance sheet and, addressing debt.The price of oil was still trading below 40 dollars a barrel, at the end of the trading day yesterday but, it is now up, just over 41 dollars today.Advertisementlast_img read more

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ScienceShot: Northern Rivers Are Melting Arctic Ice

first_imgWarm water flowing into the Arctic Ocean may be speeding the melting of sea ice, according to a new analysis of NASA satellite images. In 2012, for example, a year in which Arctic sea ice reached a record low for the past 30 years, Canada’s Mackenzie River delta was fringed with a swath of ice during late spring (light blue stripe at lower center of top panel, image taken 14 June) and open waters offshore remained near freezing (dark blue). But 3 weeks later (image at bottom), river runoff had broken through the ice barrier, warming the surface waters of a Poland-sized area of open water by an average of 6.5°C, the researchers report in Geophysical Research Letters. A combination of factors has rendered Arctic sea ice vulnerable in recent years, the team contends: The overall volume of river runoff dumped into the Arctic Ocean has grown (by more than 7% between 1965 and 2000), that water has been increasingly warm (picking up heat from the sun-warmed land before it flows into the sea), and sea ice cover has become ever thinner and more fragmented (thus making it easier to melt). Presuming that the runoff from the 72 major rivers flowing into the Arctic Ocean has an average temperature of 5°C, the amount of energy transported to the sea each and every year is equivalent to the amount of electric power used by the entire state of California in 50 years at today’s usage rates, the researchers estimate.See more ScienceShots.Sign up for our daily newsletterGet more great content like this delivered right to you!Country *AfghanistanAland IslandsAlbaniaAlgeriaAndorraAngolaAnguillaAntarcticaAntigua and BarbudaArgentinaArmeniaArubaAustraliaAustriaAzerbaijanBahamasBahrainBangladeshBarbadosBelarusBelgiumBelizeBeninBermudaBhutanBolivia, Plurinational State ofBonaire, Sint Eustatius and SabaBosnia and HerzegovinaBotswanaBouvet IslandBrazilBritish Indian Ocean TerritoryBrunei DarussalamBulgariaBurkina FasoBurundiCambodiaCameroonCanadaCape VerdeCayman IslandsCentral African RepublicChadChileChinaChristmas IslandCocos (Keeling) IslandsColombiaComorosCongoCongo, The Democratic Republic of theCook IslandsCosta RicaCote D’IvoireCroatiaCubaCuraçaoCyprusCzech RepublicDenmarkDjiboutiDominicaDominican RepublicEcuadorEgyptEl SalvadorEquatorial GuineaEritreaEstoniaEthiopiaFalkland Islands (Malvinas)Faroe IslandsFijiFinlandFranceFrench GuianaFrench PolynesiaFrench Southern TerritoriesGabonGambiaGeorgiaGermanyGhanaGibraltarGreeceGreenlandGrenadaGuadeloupeGuatemalaGuernseyGuineaGuinea-BissauGuyanaHaitiHeard Island and Mcdonald IslandsHoly See (Vatican City State)HondurasHong KongHungaryIcelandIndiaIndonesiaIran, Islamic Republic ofIraqIrelandIsle of ManIsraelItalyJamaicaJapanJerseyJordanKazakhstanKenyaKiribatiKorea, Democratic People’s Republic ofKorea, Republic ofKuwaitKyrgyzstanLao People’s Democratic RepublicLatviaLebanonLesothoLiberiaLibyan Arab JamahiriyaLiechtensteinLithuaniaLuxembourgMacaoMacedonia, The Former Yugoslav Republic ofMadagascarMalawiMalaysiaMaldivesMaliMaltaMartiniqueMauritaniaMauritiusMayotteMexicoMoldova, Republic ofMonacoMongoliaMontenegroMontserratMoroccoMozambiqueMyanmarNamibiaNauruNepalNetherlandsNew CaledoniaNew ZealandNicaraguaNigerNigeriaNiueNorfolk IslandNorwayOmanPakistanPalestinianPanamaPapua New GuineaParaguayPeruPhilippinesPitcairnPolandPortugalQatarReunionRomaniaRussian FederationRWANDASaint Barthélemy Saint Helena, Ascension and Tristan da CunhaSaint Kitts and NevisSaint LuciaSaint Martin (French part)Saint Pierre and MiquelonSaint Vincent and the GrenadinesSamoaSan MarinoSao Tome and PrincipeSaudi ArabiaSenegalSerbiaSeychellesSierra LeoneSingaporeSint Maarten (Dutch part)SlovakiaSloveniaSolomon IslandsSomaliaSouth AfricaSouth Georgia and the South Sandwich IslandsSouth SudanSpainSri LankaSudanSurinameSvalbard and Jan MayenSwazilandSwedenSwitzerlandSyrian Arab RepublicTaiwanTajikistanTanzania, United Republic ofThailandTimor-LesteTogoTokelauTongaTrinidad and TobagoTunisiaTurkeyTurkmenistanTurks and Caicos IslandsTuvaluUgandaUkraineUnited Arab EmiratesUnited KingdomUnited StatesUruguayUzbekistanVanuatuVenezuela, Bolivarian Republic ofVietnamVirgin Islands, BritishWallis and FutunaWestern SaharaYemenZambiaZimbabweI also wish to receive emails from AAAS/Science and Science advertisers, including information on products, services and special offers which may include but are not limited to news, careers information & upcoming events.Required fields are included by an asterisk(*)last_img read more

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