BOE Report

Archives for 2016

Key dates in the history of the Trans Mountain oil pipeline from Alberta to B.C.

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CALGARY - Kinder Morgan's proposal to triple the capacity of its 63-year-old Trans Mountain oil pipeline to 900,000 barrels per day has faced a rough ride from environmentalists, aboriginal groups and municipalities. It is not the first expansion of the pipeline, but it has faced the most scrutiny. Here are some key dates in the history of the Trans Mountain pipeline, which was granted conditional approval Thursday by the National Energy Board for its planned expansion: October 1953: The [Read more]

Manitok Energy Inc. Announces Closing of the First Tranche of Its Brokered Private Placement

CALGARY, ALBERTA--(Marketwired - May 19, 2016) - Manitok Energy Inc. ("Manitok" or the "Corporation") (TSX VENTURE:MEI) is pleased to announce that on May 19, 2016, Manitok closed the first tranche of its previously announced best-efforts private placement offering of (i) common shares (the "Common Shares") in the capital of Manitok issued at a price of $0.18 per Common Share, and (ii) Common Shares (the "Flow-through Shares") issued on a "flow-through" basis in respect of Canadian exploration [Read more]

Perisson Petroleum and Forent Energy Announce Acquisition of Canadian Oil and Gas Properties and First Tranche Closing of Debenture Financing

CALGARY, ALBERTA--(Marketwired - May 19, 2016) - Perisson Petroleum Corporation ("Perisson" or the "Company") (CSE:POG) and Forent Energy Inc. ("Forent") (TSX VENTURE:FEN) are pleased to announce the closing of the previously announced acquisition of a certain producing oil and gas assets in the Twining area of Alberta (the "Acquisition"). The Acquisition consists of approximately 200 boe/d, which is comprised of 70% oil and 30% liquids rich gas with associated facilities (the "Assets"). The [Read more]

Fildebrandt: The Road Ahead for Alberta Conservatives

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After a year of NDP government, huge numbers of right-of-centre Albertans are clamouring for a united conservative party to stand in the next election. Despite overtures made by the Wildrose last autumn, leadership and delegates at the recent PC annual general meeting emphatically voted to move ahead in isolation. For those who want to see conservatives united in the next election, this is unfortunate. As desirable as uniting conservatives sounds to many, the obstacles are significant and [Read more]

2016 Drilling Forecast & Production Impacts of Reduced Drilling

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What kind of production impacts might we expect in Western Canada in 2016? To gauge this we need to forecast 2016 drilling activity, compare that to 2015 drilling activity and measure the impacts that 2015 reduced drilling had on production. My drilling activity forecast for 2016 is 3909 wells. That would be a 41% reduction from 2015 drilling activity and a 73% reduction since 2014. (Note: the 2016 forecast used the same method as my 2015 drilling forecast, which was within 4% of actual drilling [Read more]

EXCO Resources, Inc. Announces Adjournment Of Annual Meeting And Updated Slate Of Directors For Election At The Annual Meeting

DALLAS--(BUSINESS WIRE)--EXCO Resources, Inc. (NYSE: XCO) (“EXCO” or the “Company”) today announced that, in order to provide shareholders with additional time to review and consider the below information, EXCO has adjourned the 2016 Annual Meeting of Shareholders (the “Annual Meeting”) until 12:00 p.m., central time, on Monday, May 23, 2016 at EXCO’s headquarters, 12377 Merit Drive, Suite 1700, Dallas, TX 75251. Based on being advised by EXCO [Read more]

Blackbird Energy Inc. Announces Closing of Unit and CDE Flow-Through Share Financing, Including Exercise in Full of Over-Allotment Options, for Gross Proceeds of $28.8 Million

CALGARY, ALBERTA--(Marketwired - May 19, 2016) - Blackbird Energy Inc. ("Blackbird" or the "Company") (TSX VENTURE:BBI) is pleased to announce that it has closed its previously announced marketed public offering of 176,410,000 units ("Units") of the Company at a price of $0.15 per Unit and 15,410,000 common shares of the Company ("Common Shares") issued on a "CDE flow-through" basis ("Flow-Through Shares") at a price of $0.15 per Flow-Through Share for aggregate gross proceeds of $28,773,000 [Read more]

NuVista Energy Ltd.: Non-Core Property Divestiture

Sayer Energy Advisors has been engaged to assist NuVista Energy Ltd. (“NuVista” or the “Company”) with the sale of its non-core oil and natural gas assets located in the Brazeau, Pembina, Wolf Lake, Hinton(collectively the “W5 Properties”) and Waskahigan areas of Alberta (the “Properties”).  The Company is selling the Properties in order to direct capital to its core properties. Recent production (February 2016) net to NuVista from the Properties has averaged 502 boe/d, consisting of 51 [Read more]

WPX Energy Declares Dividend on Preferred Stock

TULSA, Okla.--(BUSINESS WIRE)--WPX Energy’s (NYSE: WPX) board of directors has approved a quarterly dividend of $0.78125 per share to holders of the company’s 6.25 percent Series A Mandatory Convertible Preferred Stock. The dividend is payable on Aug. 1, 2016, to holders of record of the company’s preferred stock at the close of business on July 15, 2016. About WPX Energy, Inc. WPX is an oil-focused energy company with [Read more]

Spartan Energy Corp. Announces Strategic Southeast Saskatchewan Light Oil Acquisition

CALGARY, ALBERTA--(Marketwired - May 19, 2016) - Spartan Energy Corp. ("Spartan" or the "Company") (TSX:SPE) is pleased to announce that it has entered into a definitive agreement (the "Acquisition Agreement") providing for the acquisition by Spartan of Wyatt Oil + Gas Inc. ("Wyatt"), a privately held corporation with light oil assets in southeast Saskatchewan (the "Acquisition"). Based on the five day weighted average trading price of Spartan's common shares ("Spartan Shares") of $3.06 per [Read more]