CALGARY, ALBERTA--(Marketwired - May 27, 2016) - The Canadian Association of Petroleum Producers (CAPP) today expressed disappointment with the New Brunswick government's decision to extend the moratorium on hydraulic fracturing. "Industry has been working with the government to ensure world-class regulations and environmental protection is in place," said Paul Barnes, manager of Atlantic Canada and Arctic. In March 2015, the New Brunswick Commission on Hydraulic Fracturing was created [Read more]
Archives for May 2016
Alberta Energy Regulator to appeal ruling on oil and gas cleanup obligations
CALGARY - The Alberta Energy Regulator says it will appeal a court ruling that would allow oil and gas companies to avoid cleanup costs if they enter bankruptcy protection.The court case centres on bankrupt Redwater Energy Corp., whose trustees want to sell off its remaining producing wells.But the energy regulator wants to use those wells to cover cleanup expenses the company is responsible for.The Alberta Court of Queen's Bench said May 19 that provincial regulations are in conflict with the [Read more]
The BOE Report Just Surpassed 1,000,000 Annual Users!
BOE Report is pleased to announce it has reached a significant traffic milestone: surpassing 1 million annual unique users. We want to thank all of our contributors, sponsors, and our loyal audience who has helped us grow to the most read industry website in Canada and one of the most read oil and gas news and information portals on Earth. Over the past 365 days, BOE Report has received 3,018,643 visits from 1,000,675 unique users who viewed a total of 5,884,296 pages on the site. The data is [Read more]
Alberta May 25 Land Sale Results Rebound to $4.1 million
This week's Alberta Crown Mineral Rights Sale was held on Wednesday, May 25 and produced $4.1 million in proceeds for the province. This is a dramatic turn around from the previous sale, May 11, which only resulted in $1.1 million in revenue. There were a total of 52 parcels with acceptable lease bids, including 1 Oil Sands lease. The total for all 9 sales so far this year is $44.5 million. The chart below illustrates the trend of the sale results for all of 2016 so far. The total [Read more]
Traverse Energy Ltd. Closes Brokered Private Placement
CALGARY, ALBERTA--(Marketwired - May 27, 2016) - Traverse Energy Ltd. (the "Corporation") (TSX VENTURE:TVL) announces that it has closed its previously announced brokered private placement (the "Private Placement") of common shares issued as "flow-through shares" (the "Shares") under the Income Tax Act (Canada) (the "Tax Act"). Acumen Capital Finance Partners Limited (the "Agent") acted as the sole and exclusive agent of the Corporation in the Private Placement. The Corporation issued (i) [Read more]
Nigeria: Local leaders back militants hitting oil production
WARRI, Nigeria - Community leaders in Nigeria's oil-producing Niger Delta are voicing support for a new group of violent militants, saying their demands for a greater share of oil wealth match the aspirations of local people to protest decades of abuse and pollution.Participants in a stakeholders' meeting Thursday in Warri accused Nigeria's government of a heavy-handed military response and warned such a campaign will not stop attacks that have cut oil production by more than 40 per cent. The [Read more]
Arsenal Energy Inc. Announces Sale of Its US Properties
CALGARY, ALBERTA--(Marketwired - May 27, 2016) - Arsenal Energy Inc. ("Arsenal" or the "Company") (TSX:AEI)(OTCQX:AEYIF) announces the sale of all its oil and natural gas properties located in the United States for a sales price of US $34 million. Proceeds from the sale have been used to reduce the Company's outstanding bank credit facility. After applying the net proceeds of the sale, Arsenal estimates its current bank debt at approximately $11.7 million. In addition, Arsenal announces that it [Read more]
Ban on fracking in New Brunswick will continue indefinitely: minister
FREDERICTON - A moratorium on hydraulic fracturing, imposed by New Brunswick's Liberal government in December 2014, will remain in place indefinitely, the province's energy minister announced Friday."We have been clear we would not allow this activity to go forward unless our five conditions were met," Donald Arseneault said."Creating jobs is our number one priority, but not at any cost. It is clear that our conditions cannot be satisfied in the foreseeable future."The Liberal government's [Read more]
Ikkuma Resources Corp. Announces First Quarter 2016 Financial and Operating Results
CALGARY, May 27, 2016 /CNW/ - Ikkuma Resources Corp. ("Ikkuma" or the "Corporation") (TSXV: IKM) is pleased to report its financial and operating results for the three months ended March 31, 2016. Selected financial and operational information is set out below and should be read in conjunction with Ikkuma's interim condensed financial statements and the related management's discussion and analysis ("MD&A") for the three months ended March 31, 2016. Ikkuma's condensed interim financial [Read more]
Ironhorse Announces Q1 2016 Financial and Operating Results
CALGARY, May 26, 2016 /CNW/ - Ironhorse Oil & Gas Inc. ("Ironhorse" or the "Company") (TSX-V: IOG) announces its financial and operating results for the three months ended March 31, 2016. Financial and Operation Summary The Company's reported production has decreased 71% to 67 boe/d in the first quarter of 2016 from 231 boe/d produced in the fourth quarter of 2015. The decrease in production is attributed to the Nisku L2L Pool shut in of production on January 19, 2016. As a result, [Read more]
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