BOE Report

BOE Report Staff

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REPORT: Futures show long-term oil price declining and gas price remaining flat

CALGARY, ALBERTA (January 3, 2014) – Deloitte’s Resource Evaluation & Advisory group released its current Canadian domestic oil and gas price forecast today, along with a stern word of caution for investors. Deloitte’s analysis of the trends in futures pricing since 2010 gives a strong indication that oil is on its way down, and that natural gas prices will remain flat as far out as 2021 and 2022. In the commentary accompanying Deloitte’s December 31, 2013 forecast, Andrew Botterill, [Read more]

Palliser Oil & Gas Corporation Announces Change to Board of Directors

CALGARY, Dec. 23, 2013 /CNW/ - Palliser Oil & Gas Corporation ("Palliser" or the "Company") (TSX VENTURE: PXL) announces a change to the Board of Directors. Ken Crowther advises that for personal reasons, he will be resigning his position as a Director of the Company as ofJanuary 1, 2014. On behalf of the Board of Directors, Senior Management, the staff and shareholders of Palliser, we wish to thank him for his time and service to the Company and we wish him much success in the [Read more]

Imperial Oil sells downtown Calgary parking lot for 69 million

According to a Calgary Herald article, Imperial Oil has sold 1.5 acre parking lot in downtown Calgary. The lot is located at 500 6th Avenue S.W., - a land transfer of $68.95 million, dated November 20, lists the new owners as Oxford Properties and Omers. Imperial Oil is one of several companies moving out of downtown - a spokesperson commented the sale "Imperial announced our plans to build a new office complex in a site at Quarry Park. So consistent with that we did place that (downtown) [Read more]

Devon Canada lists 97,000 boe/d for sale

After announcing a couple of weeks ago about its intent to sell nearly half its Canadian assets, Devon Energy seemed to take its first step to officially place the producing properties on the market. On Scotia Waterous's website, Devon Canada is listed with having a whopping 97,000 boe/d up for sale. Here's the information from ScotiaWaterous.com: Devon Canada Corporation has initiated a process to divest of its non-core conventional oil and gas assets in Western Canada and has retained [Read more]

Sunshine Oilsands President & CEO and CFO Resign

Sunshine Oilsands President & CEO, John Zahary and CFO Robert Pearce, have resigned from the company. In a press release the company very briefly mentions their departures: The Board of Directors has accepted the resignations of John Zahary, President and Chief Executive Officer and of Robert Pearce, Chief Financial Officer. Assuming the position of interm President & CEO will be Executive Vice President, Corporate Operations, Owen Sealock. Click here to read the entire [Read more]

Natural gas prices soar, AECO spot price reaches 2 1/2 year high

Natural gas prices soared Friday on bullish supply data released on Thursday as well as chilly forecasts. On the NYMEX, natural gas futures for delivery in January traded at USD4.169/mmbtu during the day, up 0.88%. The AECO spot price in Alberta also caught fire as it shot up CAD$0.14/Mcf to settle at $4.04, it's highest level since June 2011. Cold weather gripping much of the US will hit the heavily populated eastern U.S. in the coming days, according to updated weather forecasts, [Read more]

Alberta Investment management sells 56,000,000 shares of Precision Drilling in massive overnight transaction

In a massive overnight trade, Alberta Investment Management sold its entire 56 million share holding of drilling giant Precision Drilling. The trade swapped over $530 million of equity. The stock is down 9% on the day. From today's Precision Drilling press release: Today, Alberta Investment Management Company ("AIMCo") sold its entire equity position in Precision Drilling Corporation (PD.TO) (PDS), approximately 56 million shares, in an overnight marketed transaction. AIMCo acted [Read more]

Primary Petroleum and social media company announce proposed merger

Primary Petroleum, a junior oil and gas company engaged in exploration and development activities in NW Montana, has entered into a letter of intent to buy Keek - a social video sharing service. From the press release: The LOI contemplates Primary acquiring all of the outstanding shares of Keek in exchange for shares of Primary on a one-for-one basis. The transaction would be accounted for as reverse take-over of Primary by Keek under the policies of the TSX Venture Exchange (the [Read more]