Bounty Developments Ltd. is soliciting offers for its 100% working interest in 98.5 sections (63,040 acres) of Duvernay and other PNG rights in the Kaybob area. These are the largest high quality available Duvernay undeveloped land blocks in the Kaybob basin. Well control and extensive geological and petrographic work have de-risked land and show good pay thicknesses, high silica and toc content and other indicia of a world class shale project. Land is in two contiguous blocks of primarily [Read more]
Archives for October 2019
Baker Hughes, a GE company Announces September 2019 Rig Counts
HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for September 2019 was 1,131, down 7 from the 1,138 counted in August 2019, and up 127 from the 1,004 counted in September 2018. The international offshore rig count for September 2019 was 242, down 2 from the 244 counted in August 2019, and up 38 from the 204 counted in September 2018. The average U.S. rig count for September 2019 was 878, down 48 from [Read more]
Norway's largest pension fund KLP exits oil sands companies
KLP, Norway's largest pension fund, will no longer invest in companies deriving their income from oil sands, and recently sold stocks and bonds in such firms worth about $58 million, it said on Monday. KLP's decision affects five companies, which were added to its exclusion list: Canada's Cenovus Energy , Suncor Energy , Husky Energy and Exxon-controlled Imperial Oil , as well as Russia's Tatneft PAO . The fund, which manages over $81 billion in assets, said its new policy was to exclude [Read more]
Pembina Pipeline Corporation Declares October 2019 Common Share Dividend, Quarterly Preferred Share Dividend and Announces Third Quarter 2019 Results Conference Call and Webcast
CALGARY, Oct. 4, 2019 /CNW/ - Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today that its Board of Directors declared a common share cash dividend for October 2019 of $0.20 per share to be paid, subject to applicable law, on November 15, 2019 to shareholders of record on October 25, 2019. These dividends are designated "eligible dividends" for Canadian income tax purposes. For non-resident shareholders, Pembina's common share dividends should be [Read more]
Regulator-versus-regulator warning issued over gas line to customs office
CALGARY - The latest regulatory battle concerning a cross-border energy pipeline has broken out between two branches of the federal government. The Canada Energy Regulator has fired off a warning letter to the Canada Border Services Agency over "non-compliance" with its pipeline regulations. The complaint concerns a natural gas line that connects to a CBSA customs building on the Canada-U.S. border about 30 kilometres south of the community of Climax, Sask. Because the "pipeline" runs [Read more]
Canada weekly rig count jumps 17 to 144
Canada’s fleet of active drilling rigs increased by 17 since last week according to data from Baker Hughes. Total drilling count was 144 at October 4. 105 rigs were drilling for oil; 39 for natural gas. The drilling activity in both Alberta and Saskatchewan increased, growing from 83 to 94 in Alberta, and 30 to 36 in Saskatchewan. View a full breakdown of Western Canada’s rig activity. [Read more]
U.S. oil drillers cut rigs for seventh week in a row
U.S. energy firms this week reduced the number of oil rigs operating for a seventh week in a row as producers follow through on plans to cut spending on new drilling this year. Drillers cut 3 oil rigs in the week to Oct. 4, bringing the total count down to 710, the lowest since May 2017, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. In the same week a year ago, there were 861 active rigs. The oil rig count, an early indicator of [Read more]
Investigation finds misuse of funds, scant oversight at Alberta Energy Regulator
A government investigation concludes the former head of the Alberta Energy Regulator grossly mismanaged public funds in a scandal that has left taxpayers about $2.3 million out of pocket. The findings were announced by Alberta's auditor general Doug Wylie, public interest commissioner Marianne Ryan and ethics commissioner Marguerite Trussler. The investigation revolved around the activities of Jim Ellis and other executives with the energy regulator between 2017 and 2018. A report says [Read more]
Manitoba, South Manson – Lodgepole Summary
Elcano Exploration Inc. is seeking proposals from qualified parties to further develop our prospective Lodgepole and Bakken lands in the greater Manson area. Elcano has a proprietary 8 square mile 3D seismic program over the entire South Manson prospect and has drilled a vertical test well at 15-22-12-28W1M. Results from the well and seismic interpretation support an extensive Lodgepole Fm Daly Mbr oil trend over Elcano lands (~3,000 net acres). Proposals to develop Elcano prospects with [Read more]
Strategic Oil & Gas Ltd. Announces Management and Board Changes
Strategic Oil & Gas Ltd. (TSXV: SOG) ("Strategic" or the "Company") is pleased to announce that William Lancaster will be joining the Company as President and Chief Executive Officer effective October 17, 2019. Mr. Lancaster is currently the President and a member of the Board of Directors of GMT Exploration LLC ("GMT Exploration"), a private oil company based in Colorado. The Chairman of the Board of Directors of Strategic is a significant shareholder and member of the Board of Directors [Read more]
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