Western Canada’s fleet of drilling rigs went up by 7 to the current count of 222 actively drilling rigs according to data collected by Baker Hughes for the week of December 1st. From one week ago, Alberta rig counts increased from 153 to 162, the Saskatchewan rig count remained at 32. Oil drilling went up 4 to 111; gas rigs went up 3 to 111. View a full breakdown of western Canada’s rig activity. [Read more]
Archives for December 2017
Oil pares gains after report on Flynn in Russia probe
NEW YORK (Reuters) - Oil pared gains on Friday with a decline in U.S. stock markets after an ABC News report added to concerns about President Donald Trump’s exposure to a probe into Russian meddling in last year’s campaign. Wall Street’s main indexes all fell by more than 1 percent after the ABC report that former national security adviser Michael Flynn was prepared to tell investigators that prior to taking office, Trump directed him to make contact with Russians. Flynn, a central figure [Read more]
U.S. drillers add oil rigs for 2nd week in a row -Baker Hughes
U.S. energy companies this week added oil rigs for a second week in a row as crude prices traded near their highest levels since the summer of 2015 as major oil producing countries extended a global deal to limit supply. Drillers added two oil rigs in the week to Dec. 1, bringing the total count up to 749, the highest since September, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. U.S. producers applauded Thursday's decision by the [Read more]
High court sides with First Nations, environmental groups in Yukon dispute
OTTAWA - First Nations, environmental groups and Yukon Premier Sandy Silver welcomed a Supreme Court of Canada ruling on wilderness lands Friday as a victory for the northern territory. The unanimous high court ruling is likely to ensure ecological protection of much of the Peel Watershed, a swath of unspoiled terrain that covers an area the size of Ireland. The Supreme Court said the Yukon government "thwarted" the land-use process by improperly rewriting a plan for the [Read more]
OPEC, Russia have done their bit, now it’s the turn of U.S., China: Russell
The Organization of the Petroleum Exporting Countries and its allies are taking a multi-layered bet that global oil dynamics will work in their favour by extending their crude oil production cuts until the end of 2018. The group met market expectations by extending the combined 1.8 million barrels per day (bpd) of output cuts from their previous expiry of March next year at their meeting in Vienna on Thursday. A commitment to exit the agreement gradually so as not to shock the market also [Read more]
MEG Energy expects to produce more oil in 2018
Canadian oil sands producer MEG Energy Corp said on Friday it expects higher production in 2018, compared to its 2017 forecast. The company expects to produce 85,000 to 88,000 barrels per day (bpd) next year, compared to its 2017 forecast of 80,000 to 82,000 bpd. MEG Energy expects capital expenses of C$510 million ($396.02 million) next year, the majority of which will be used to drill new oil wells. The company said it plans to spend C$120 million next year on thermal technology at [Read more]
MSL Land Services Once Again Offers Free Crown Sales
MSL Land Services is offering the use of our name for confidential bidding at Alberta Crown Sales in December and January. As an added bonus the first client to post a bid and correctly name the Santa Clause in our Ad will win a pair of tickets to a Calgary Flames game. Click here to view more information Please contact Rob Gunn rob@mslland.ca 403-441-1020 or Patrycia Payne patrycia@mslland.ca 403-441-1914 for more information. www.mslland.ca [Read more]
Bonterra Energy Corp. Confirms Cash Dividend for November 2017 Payable December 29th, 2017
CALGARY, Alberta, Dec. 01, 2017 (GLOBE NEWSWIRE) -- Bonterra Energy Corp. (www.bonterraenergy.com) (TSX:BNE) announces that the November 2017 monthly cash dividend will be $0.10 per share and will be paid on December 29th, 2017. The record date for the dividend is December 15th, 2017 and the ex-dividend date is December 14th, 2017. The dividend is paid monthly and is subject to commodity prices and production levels. The dividend is considered an "eligible dividend" for tax purposes. [Read more]
MEG Energy Board of Directors appoints Daniel Farb to the Board
CALGARY, Dec. 1, 2017 /CNW/ - MEG Energy Corp. (TSX:MEG) announced today the appointment of Daniel S. Farb to its board of directors. Mr. Farb, a Canadian citizen, is a Managing Director of Highfields Capital, a Boston-based investment firm that manages over US$12 billion on behalf of endowments, foundations, pension funds and other institutional investors and is MEG's second largest shareholder. He joined Highfields in 2001 and is a Partner on the investment team, focusing primarily on [Read more]
MEG Energy announces 2018 capital investment plan supporting production to 100,000 bpd, sets the stage for continued growth in 2019
All financial figures in Canadian dollars ($ or C$) unless otherwise noted CALGARY, Dec. 1, 2017 /CNW/ - MEG Energy Corp. (TSX:MEG) announced today its 2018 capital investment plan and operational guidance. Highlights include: A 2018 capital budget of $510 million, 24% of which is directed towards the completion of the Phase 2B eMSAGP growth project, 20% towards an expansion of the pilot program involving the company's proprietary eMVAPEX technology and positioning the company to grow [Read more]
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