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New Star Energy Enters Strategic Alternatives

Calgary-based junior producer New Star Energy has announced through Macquarie Tristone that it has entered strategic alternatives. The company, producing between 4,000 - 5,000 boe/d, holds nearly 80,000 acres of land west of Edmonton. The company reports 2p reserves of approximately 20 MMboe (60% liquids). Read the full release below from Macquarie Tristone's website: New Star Energy Ltd. ("New Star") has undertaken a process to identify strategic alternatives and has retained Macquarie [Read more]

Canadian oil and gas prices likely to maintain momentum to end of 2014: Report

Loss of Edmonton Par data and other benchmarks still cause for concern as Canada eyes export markets outside the U.S. CALGARY, ALBERTA (July 3, 2014) – Deloitte’s Resource Evaluation & Advisory group released its current Canadian domestic oil and gas price forecast today, noting that the strengthening prices experienced during the second quarter are likely to continue, resulting in a stronger second half of 2014 for Canadian oil and gas producers. “April through June has seen a [Read more]

Strata Oil Commences Seismic Study To Assess Primary Heavy Oil Production Potential

For the past year we've been looking at the potential of our 100%-owned Cadotte Project to support a cold heavy oil production component, as we reported last June. This was a result of some new findings in our Resource Evaluation of the western portion of our project, which boosted our resource by 3.4 billion barrels in-place, of which 887 are estimated to be recoverable using existing technology. Due to its relatively low cost and favorable economics, cold production in the Peace River area [Read more]

Canadian Law Makes It Cheaper To Prevent Oil Sands Leaks Than Clean Them Up

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As the Canadian government pushes a new law rendering pipeline companies liable for all damages from leaks and spills, the only friend to both sides in this polarized world of dirty oil sands is leak prevention technology. On May 14, amid heightened opposition to two planned pipelines, Canada's Natural Resources Ministry unveiled a new law making pipeline operators liable for all the costs and damages related to oil spills, regardless of whether the operators were at fault or demonstrated [Read more]

Pilot Energy Corp. Announces Swift Current Asset Acquisition

Pilot Energy Corp. has duly executed an offer to purchase (the "OTP" or letter of intent) with the Vendor of certain oil and gas assets comprising 2,320 gross acres (1,838 net acres) in the Swift Current corridor as previously defined in Pilot's Corporate presentations. The assets comprise of 20 barrels of oil per day (gross/net) currently producing, plus 90 barrels per day (net) of suspended oil that can be re-activated immediately from six (6) gross (4.1 net) wells. The working interest in [Read more]

The California Shale Bubble Just Burst

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The great hype surrounding the advent of a shale gas bonanza in California may turn out to be just that: hype. The U.S. Energy Information Administration (EIA) – the statistical arm of the Department of Energy – has downgraded its estimate of the total amount of recoverable oil in the Monterey Shale by a whopping 96 percent. Its previous estimate pegged the recoverable resource in California’s shale formation at 13.7 billion barrels but it now only thinks that there are 600 million barrels [Read more]

Twin Butte appoints new President and new COO

In today's 2014 Q1 press release, Twin Butte announced a new President a new Chief Operating Officer. Read from the press release below courtesy Twin Butte: Management Changes As part of the long term growth plan for the Company, the following management changes have been made. The Company is pleased to announce that Rob Wollmann and David Middleton have joined the Company as President and Chief Operating Officer, respectively, replacing the individuals that formerly held these roles. Both [Read more]

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]