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100 YEARS! Dingman #1 and the History of the Turner Valley Gas Plant

On May 14, 1914, wet natural gas sprayed out of the well bore at the Calgary Petroleum Products No. 1 Well. This discovery of petroleum led to the development of Alberta's first natural gas processing plant and changed the province forever. Located 60 km south of Calgary, the Turner Valley Gas Plant is a tangible symbol of the development of the Turner Valley Oilfield, western Canada’s first commercial petroleum producer. Read below the history of the Turner Valley's petroleum discoveries, [Read more]

WATCH: The best LNG video ever

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LNG (liquified natural gas) has generated a lot of buzz over the past few years. Many - especially those in BC - see it as the future of Canada's economy. But there are still those who see it as an evil fossil fuel which will bring destruction to our planet. For the anti-LNG crew, here's a short informative video of how LNG is the safest fuel available. And for the pro-LNG-ers, share this with your anti-LNG friends: [Read more]

MEG Energy reports record quarterly production and cash flow

Production increase reflects continuing success in the ramp-up of Phase 2B and the RISER initiative CALGARY, April 30, 2014 /CNW/ - MEG Energy Corp. today reported first quarter 2014 operational and financial results. Highlights include: Record cash flow from operations of $157.0 million; Record quarterly production of 58,643 barrels per day (bpd), an increase of 80% over first quarter 2013 production volumes driven by the continuing ramp-up of production at Christina Lake Phase 2B and [Read more]

GasFrac to replace its entire board of directors

GasFrac Energy Services announced today it reached a deal with 5.4% owner, Nanes Balkany Partners, to replace its entire board of directors with a slate put forward from the New-York based activist investment fund. According to a Calgary Herald article, the move has garnered praise from environmentalists, but no love from shareholders. Read the press release courtesy GasFrac below: CALGARY, ALBERTA–(Marketwired – April 29, 2014) - GASFRAC Energy Services Inc. (“GASFRAC” or the [Read more]

WATCH: Terrific film shot in 1947 about the oilfields in Turner Valley

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We here at the BOE Report love history. Specifically, the oilpatch's history. So when we came across a video, shot in 1947 and filmed in Turner Valley, which showcased Southern Alberta's oilfields, we had to share it. Story of Oil explains 1940's Turner Valley oil exploration, seismology, coring labs, drilling and completion--and offers a friendly reminder why the world needs oil. Enjoy! [Read more]

Suncor Energy reports employee fatality at its Oil Sands site

FORT MCMURRAY, ALBERTA--(Marketwired - April 20, 2014) - Suncor Energy regretfully reports there has been an employee fatality at its Oil Sands site on Sunday, April 20, 2014. Suncor emergency service personnel responded at approximately 11:30 a.m. when an employee was severely injured while working. The employee was immediately transported to the Northern Lights Regional Health Centre where he was pronounced deceased. Suncor is working with the appropriate authorities and will complete a [Read more]

Polar vortex, shrinking loonie, create short-term boost for Canadian gas

Disappearances of Canadian benchmarks will influence future oil and gas forecasts and evaluations CALGARY, ALBERTA (April 1, 2014) – Deloitte’s Resource Evaluation & Advisory group released its current Canadian domestic oil and gas price forecast today, noting recent increases in Henry Hub natural gas futures for 2014 as high as US$4.94/Mcf. Deloitte’s Andrew Botterill, Senior Manager Resource Evaluation & Advisory, attributes the increases to above-normal draws on U.S. natural gas [Read more]

Sunshine Oilsands faces 71 lawsuits

Sunshine Oilsands is facing 71 lawsuits seeking a total of $94 million for unpaid bills. The story was first reported in the Globe and Mail. The Chinese-backed oilsands producer has been struggling to raise money to restart a a 10,000 bbl/d steam-assisted oilsands project at West Ellis. Read more from the Globe and Mail... [Read more]

Apache Agrees To Sell Western Canada Assets For US$374 Million

HOUSTON, March 31, 2014 /PRNewswire/ -- Apache Corporation (NYSE, Nasdaq: APA) and its subsidiaries today announced an agreement to sell producing oil and gas assets in the Deep Basin area of western Alberta and British Columbia, Canada, for $374 million. Incremental to Apache's earlier $2 billion share re-purchase announcement, the company plans to use the proceeds of this transaction to buy back Apache common shares under the 30-million-share repurchase program that was authorized by Apache's [Read more]