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Tourmaline Oil Corp. Earns $59.6 Million in Q4 2016

CALGARY, March 7, 2017 /CNW/ - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") achieved exceptional growth in reserves (64%) and top-tier production growth (20%) in 2016 while continuously improving its industry-leading cost structure. HIGHLIGHTS Q4 after-tax earnings of $59.6 million ($0.24/diluted share), re-emphasizing the underlying profitability of Tourmaline's E&P business, even in a low commodity price environment. Q4 2016 cash flow(1) of $252.5 million [Read more]

Sproule appoints Cameron Six as President and CEO

CALGARY, Alberta, CANADA – March 7, 2017 - Sproule announced today that President and CEO Lowy Gunnewiek is no longer with the Company, effective immediately. Cameron Six, a long-time employee of Sproule and current Chief Operating Officer, has been appointed President and CEO. Sproule thanks Mr. Gunnewiek for his hard work and dedication to the company during his time here, specifically in his efforts towards defining our new growth strategy. About Sproule Sproule is a global energy [Read more]

New oil and gas jobs from BOE Report Jobs

Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up here to create an account to post jobs; it’s simple and easy to use. Mar. 6 Oil and Gas Field Operator  Roska DBO Grande Cache Mar. 5 Business Analyst Calfrac Well Services Calgary Mar. 4 Construction Quality Assurance Auditor JSG Professional Services ULC, a Johnson [Read more]

Canada weekly rig count steady at 335

Western Canada's fleet of drilling rigs are still busy with 335 actively drilling according to data collected by Baker Hughes. Rig counts have been over 300 since the week ending January 13 as higher oil and gas prices have caused a significant increase in activity from one year ago when only a mere 130 rigs were drilling across the basin. From one week ago, Alberta has seen a slight decrease in activity from 234 to 227 active rigs, Saskatchewan got busier - current count at 65, up from [Read more]

Frac Water Trends in Alberta – Connate Water Solutions Inc.

If anything can be learned from the last two years in Alberta, it is that both operators and service companies are fiercely looking at every area of their cost structure.  Our core business at Connate Water Solutions Inc. is water. Every day we are implementing new water technologies to reduce costs and better serve our clients by staying at the forefront of industry water demands. Recently, we have examined average water usage on a per well basis in Alberta from 2013 to 2016 (2016 average = [Read more]

Solstice Engineering: ARO, A&D, and LLR Made Simple

Historically, determining Asset Retirement Obligation (ARO)/Provision Estimates has been a nuisance, usually requiring petroleum companies to lean on people within their organizations that would be better served project managing end of life work.  It required using industry experience to come up with average gross well abandonment, pipeline abandonment, and reclamation estimates for each area in which the company operates, vetting these estimates against actual work completed and multiplying [Read more]

Barnwell of Canada, Limited Peace River Arch Property Offering

Barnwell of Canada, Limited has retained CB Securities Inc. as its exclusive advisor for the sale of several of its properties in the Peace River Arch area with aggregate production of 190 BOE/day. This is an invitation to submit a Non-Binding Bid for any of the properties by April 6, 2017. Progress/Valhalla - Twp 76&77 Rge 9 W6M Current net production is 141 BOE/day (~40% light oil) from mostly high working interest vertical Triassic producers Upside: Doig horizontal development [Read more]

New oil and gas jobs from BOE Report Jobs

Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up here to create an account to post jobs; it’s simple and easy to use. Feb. 27 Oil & Gas Field Operator - Karr Creek, AB Roska DBO Karr Creek Feb. 24 Remote Gas Plant Operators - Fort Nelson, BC Roska DBO Fort Nelson Feb. 24 Receptionist Canadian Natural [Read more]

Canada’s drillers still busy as weekly rig count rises

Western Canada's fleet of active drilling rigs increased by 10 this week to a total of 341, according to data gathered by Baker Hughes, as drillers have stayed relatively busy this season. Of the active rigs, 206 are drilling for oil; 135 for gas. Alberta saw a slight increase to 234 active rigs (up from 232). Saskatchewan and BC also saw modest increases. Counts are substantially higher than one year ago this time. Only 175 rigs were drilling last February--the least busy February in [Read more]

GPS Award Nominations are Coming to a Close. Act Now to Celebrate Change and Evolution in the Energy Industry

Applications for the 2017 GPS Awards will be accepted until February 28, 2017. The Global Petroleum Show Awards help gain global recognition and authority, says a 2016 award winner. “Global Petroleum Show is a respected brand, it’s a nice testimony to what our technology brings,” says Joe Kuhach, CEO of Nsolv, the company that won the coveted Innovation in Technologies Award in 2016. GPS Awards recognize and celebrate leaders who drive change and evolution in the energy industry. Past [Read more]