The impact of sharply lower oil prices is being felt around the globe. Oil-dependent countries are trying to mend busted budgets. Oil companies are cutting production and workers. While consumers in some countries enjoy lower gas prices, elsewhere consumers are paying higher food prices due to declines in the local currency. Some facts and figures to explain the regional impact: U.S. — The government estimates U.S. production will fall to an average 8.7 million barrels a day this year [Read more]
Archives for February 2016
Oil industry group says Trans Mountain panel subjected to ‘abuse’ from opponents
CALGARY - A vice-president at the Canadian Association of Petroleum Producers has lashed out at opponents of the Trans Mountain pipeline review process, calling much of the criticism "shameful" and "abusive."Nick Schultz was first up Tuesday as a three-member panel weighing the multibillion-dollar project began hearing oral arguments from interveners in Calgary."In the course of this long process, you have been subjected to unfair criticism — systematic abuse, in fact — from some who simply want [Read more]
Augusta Provides Sales Update
TORONTO, ONTARIO--(Marketwired - Feb. 2, 2016) - Augusta Industries Inc. (the "Corporation") (TSX VENTURE:AAO) is pleased to announce that it wholly owned subsidiary, Marcon International Inc. ("Marcon"), has entered into various agreements with various departments of the United States government for the supply of instrumentation and equipment. The aggregate value of the agreements is $202,156. "The Corporation is pleased with the entering of these new agreements," stated Allen Lone, President [Read more]
Groundstar Resources Limited Provides Corporate Update
CALGARY, ALBERTA--(Marketwired - Feb. 2, 2016) - Groundstar Resources Limited (TSX VENTURE:GSA) (the "Company") announces that Mr. John Poulter has resigned as a director of the Company due to internal issues with his fund company. The Company thanks Mr. Poulter for his contributions to the Company to date and looks forward to continued support from several funds which he manages and which hold significant share positions in the Company. About Groundstar Resources Limited Incorporated in [Read more]
Cheap oil buoys consumers, shakes up global governments
Cheap oil will be sticking around for a while. That reality is wreaking havoc and causing uncertainty for some governments and businesses, while creating financial windfalls for others. Less expensive crude is delighting consumers in some regions, while leading to widespread job losses elsewhere. Oil has fallen from $107 to around $30 in the past 19 months. Furious production by the U.S. and OPEC led to an oversupply. Recently, a sluggish global economy has spurred concerns about [Read more]
marcus evans to Host the 15th Outage Management for Power Plants and the 8th Annual Shutdowns & Turnarounds for Chem/Petro & Refining Conferences in New Orleans
NEW ORLEANS, LA--(Marketwired - February 02, 2016) - marcus evans will host the co-located 15th Annual Outage Management for Power Plants (OMPP) Conference and the 8th Annual Shutdowns and Turnarounds for Chem/Petrochem & Refining Conference on July 26- 28, 2016 at the Astor Crowne Plaza in New Orleans. Run your outages cost-effectively at the 15th OMPP ConferenceAs it has for the last decade and a half, this annual meeting provides power generation professionals with proven case [Read more]
Quattro Increases Estimated Recoverable Resources in Saskatchewan to 18 Million Barrels From 120 Million Barrels of Original Oil in Place (OOIP) ** and Receives Proposal for a Term Loan of $20 Million
CALGARY, Alberta, Feb. 02, 2016 (GLOBE NEWSWIRE) -- Quattro Exploration and Production Ltd. (TSX-V:QXP) ("Quattro" or the "Company") is pleased to announce an increase in its recoverable reserves in Saskatchewan to 18 million barrels of oil from an estimated 120 million barrels of original oil in place (OOIP)**. Furthermore, in December of 2015, the Company entered into discussions with a Tier One lender who had earlier in the year previously indicated an interest in the financing of Quattro. [Read more]
The US presidential campaign – a public starved for political courage contemplates the unthinkable
Twenty years ago a diminutive but out-sized Texan with a mildly plucked-chicken demeanor about him ran for the US presidency, and the race became interesting for the first time in ages. A singular individual with good ideas, great judgment, and the courage of independent thought shook up the political scene in a big way. The individual was Ross Perot, who had built a reputation as a no nonsense problem solver that fearlessly took on bureaucracies and challenged entrenched sacred cows wherever [Read more]
Rock Energy Inc. Announces Year End 2015 Reserves Replacing Over 400% of Its Production During the Year, and Growing Total Proven Plus Probable Reserves by 37%
CALGARY, ALBERTA--(Marketwired - Feb. 2, 2016) - Rock Energy Inc. (TSX:RE) ("Rock" or the "Company") is pleased to report a corporate reserves update effective December 31, 2015. This is a reserves update to the report provided on December 14, 2015 that had an effective date of November 30, 2015. The new report incorporates production for the month of December, the drilling of three (3.0 net) wells at Laporte, and the GLJ Petroleum Consultants ("GLJ") price forecast dated January 1, 2016. GLJ's [Read more]
Rock Energy Inc. Announces Year End 2015 Reserves Replacing Over 400% of Its Production During the Year, and Growing Total Proven Plus Probable Reserves by 37%
CALGARY, ALBERTA--(Marketwired - Feb. 2, 2016) - Rock Energy Inc. (TSX:RE) ("Rock" or the "Company") is pleased to report a corporate reserves update effective December 31, 2015. This is a reserves update to the report provided on December 14, 2015 that had an effective date of November 30, 2015. The new report incorporates production for the month of December, the drilling of three (3.0 net) wells at Laporte, and the GLJ Petroleum Consultants ("GLJ") price forecast dated January 1, 2016. GLJ's [Read more]
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