Source: U.S. Energy Information Administration, based on Drillinginfo In the past, the number of gas-oriented drilling rigs in a particular region has been a common metric for estimating the production of natural gas. However, technological advances have led the way to the widespread use of new oil and natural gas extraction techniques that have opened up a hydrocarbon resource base dramatically larger than previous estimates. Because of these new methods of extraction, generally in wide [Read more]
News
Storm Resources Ltd. Announces $35 Million of Equity Financings, an Operations Update and Preliminary 2014 Guidance Including Capital Investment of $81 million
CALGARY, ALBERTA--(Marketwired - Oct. 28, 2013) - STORM RESOURCES LTD. ("Storm") (TSX VENTURE:SRX) is pleased to announce that it has entered into an agreement for a $30.15 million bought deal financing and intends on concurrently completing a non-brokered financing for up to $5.025 million. In addition, Storm is pleased to provide an operations update and preliminary 2014 guidance that includes capital investment of $81 million. Equity Financing Storm has [Read more]
Blackbird Energy Announces Increase to Financing and Addition of Full Warrant to Units
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 28, 2013) - Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird" or the "Company") announced today that due to demand, it is increasing the size of its previous announced private placement (the "Private Placement") from $1,500,000 to aggregate gross proceeds of up to $2,500,000. The Company is increasing the unit portion of the Private Placement by $1,000,000 for a total unit offering of up to $2,000,000. In addition, the units will now [Read more]
Whitecap Resources Inc. Announces Cardium Light Oil Acquisition, Working Interest Consolidation of Eagle Lake Viking Unit and $65 Million Financing and Provides Increased 2013 Guidance
CALGARY, ALBERTA--(Marketwired - Oct. 28, 2013) - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX:WCP) is pleased to announce that it has completed the acquisition of a Cardium light oil property and a working interest consolidation of its Eagle Lake Viking unit for total consideration of $90 million (the "Acquisitions"). The Cardium acquisition ("Cardium Acquisition") adds approximately 920 boe/d (70% Oil/NGL's) of high netback, operated production with a base production [Read more]
Crocotta Energy Provides Operational Update
CALGARY, ALBERTA--(Marketwired - Oct. 28, 2013) - Crocotta Energy Inc. ("Crocotta" or the "Company") (TSX:CTA) is pleased to announce the following: CORPORATE PRODUCTION AND GUIDANCE Crocotta's corporate production averaged over 8,500 boepd for Q313 and is estimated to average 9,500 boepd for Q413. Crocotta is currently drilling at both Edson in West Central Alberta as well as at Dawson in Northeast British Columbia and is on target to meet exit guidance of 10,500 boepd. [Read more]
What’s good for you is good for us: Ontario Premier plays nice in Alberta
CALGARY - Ontario Premier Kathleen Wynne says what's good for Alberta's oil and gas industry is good for her province too."Oil and gas are clearly fundamental to Alberta's economy and to Canada's but also to Ontario's — and I want everyone to know that I understand that and I want to advance that," Wynne told a corporate crowd in Calgary on Friday."Many of our Ontario manufacturers now directly support your industry. I want us to build on that relationship."Wynne set a different tone than that [Read more]
Nearly 300 oil pipeline spills went unreported to US state since 2012
BISMARCK, N.D. - North Dakota, the No. 2 oil producing state behind Texas, recorded nearly 300 oil pipeline spills in less than two years, state documents show. None of them were reported to the public, officials said. According to records obtained by The Associated Press, the pipeline spills, many of them small, are among some 750 "oil field incidents" that have occurred since January 2012 without public notification. "That's news to us," said Don Morrison, director of the Dakota Resource [Read more]
Ottawa backing off oilsands assessment
OTTAWA - The federal government appears to be backing away from any role in assessing the environmental impact of new oilsands projects. A list of the types of projects that will require a federal environmental assessment has been released and it does not include any in-situ oilsands mines. Expansions to open pit mines will still be reviewed. But 80 per cent of the resource can only be recovered using in-situ methods and that's how most new development is expected to proceed. Those [Read more]
POLL: Majority of Canadians support Keystone, oppose Northern Gateway
According to a Forum Research Poll Canadians support TransCanada's Keystone XL pipeline and oppose Enbridge's Northern Gateway. The survey sampled 1,859 random Canadians and found 42% favor Keystone, 41% oppose and 16% don't know. This is the first poll where a majority of Canadians support the pipeline. Unsurprisingly, Albertans offered the greatest level of support at 69%, BC and Quebec had the greatest opposition at 49% and 47% respectively. When it comes to Northern Gateway, Canadians [Read more]
Chevron Establishes Recoverable Resource in the Duvernay Shale Play
SAN RAMON, Calif.--(BUSINESS WIRE)--Chevron Corporation (NYSE: CVX) today announced the successful conclusion of the initial exploration phase by its Canadian subsidiary, Chevron Canada Limited, in the Kaybob area of the Duvernay play, located in west-central Alberta, Canada. “This discovery creates a foundation for future growth in Canada.” Chevron Canada Limited successfully concluded the initial twelve well exploration drilling program in the liquids-rich portion of the Duvernay shale play. [Read more]