When the final numbers were tallied late last Wednesday for Husky Energy's hostile bid for rival Canadian oil producer MEG Energy, Husky's top executives learned they had the support of nearly 60 percent of MEG shareholders, people familiar with the situation told Reuters. That meant they easily surpassed the 50 percent threshold usually needed to extend their offer and reach the two-thirds mark necessary to win the deal. On Thursday morning, however, Husky walked away, saying it had [Read More…]
Headlines
Oil prices slip as slowdown worries offset outlook for lower supply
The oil market fell on Wednesday as a widespread economic slowdown, which may dent growth in demand for fuel, weighed on energy prices. U.S. West Texas Intermediate crude futures fell 52 cents, or 1 percent, to $52.49 per barrel Crude futures earlier got a boost from hopes that Japan and China would take fiscal stimulus measures to stem the slowdown. Prices got further support from expectations that U.S. crude stockpiles fell last week and official data indicated slowing growth in U.S. shale [Read More…]
Property Divestiture: 119307 Alberta Corporation – Dunvegan Area of Alberta
Sayer Energy Advisors has been engaged to assist 119307 Alberta Corporation (“119307” or the “Company”) with the sale of its oil and natural gas property in the Dunvegan area of Alberta (the “Property”). The Property consists of a 0.921% working interest in the Dunvegan Gas Unit No. 1 (the “Unit”), as well as various non-Unit oil and natural gas wells. Recent sales net to 119307 from the Property have averaged approximately 77 boe/d (325 Mcf/d and 23 barrels of oil, free condensate and [Read More…]
Crescent Point Receives Approval for Normal Course Issuer Bid
CALGARY, Jan. 23, 2019 /CNW/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is pleased to announce the Toronto Stock Exchange ("TSX") has accepted its notice to implement a normal course issuer bid ("NCIB") to purchase, for cancellation, up to 38,424,678 common shares, or seven percent of the Company's public float, as at January 14, 2019. The NCIB is scheduled to commence on January 25, 2019 and is due to expire on January 24, 2020. "We believe [Read More…]
The ultimate field integration tool for the modern industry
In today’s age everyone carries a pocket-sized computer with them – smartphones. These powerful little devices are constantly collecting data, and Cenozon has capitalized on that for the oil and gas industry. Cenozon’s FIND – short for Field Integration and Navigation Data – saves pipeline operators time and money by bringing mobile devices to the oilfield. Built on the latest in GIS technology, every asset is plotted on an intuitive mapping interface. Inspections, maintenance, and [Read More…]
How drilling contractors can dig deeper to win more business
Each week, XI Technologies scans their unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you'd like Wednesday Word to the Wise delivered directly to your inbox, subscribe here Oil price volatility since 2014 has had a tremendous impact on drilling activity and drilling contractors across the WCSB. The Canadian Association of Drilling Contractors (CAODC) drilling forecast for 2019 continues to project [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 to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Jan. 22 Application Steward Calfrac Well Services Calgary Jan. 21 Facility Maintenance Administrative Assistant Vertex Sherwood Park Jan. 21 Accounting [Read More…]
InPlay Oil Corp. Provides Operations Update and 2019 Capital Budget
CALGARY, Alberta, Jan. 22, 2019 (GLOBE NEWSWIRE) -- InPlay Oil Corp. ("InPlay" or “the Company”) (TSX: IPO, OTCQX: IPOOF) is pleased to announce that its Board of Directors has approved a $36 million Exploration and Development capital program for 2019. A year of exceptional operational results in 2018, drilling pacesetter horizontal Cardium wells at Willesden Green, positions us to continue with a focused 2019 capital program. With the potential for continued commodity price volatility, we [Read More…]
Bellatrix Announces Voluntary NYSE Delisting
CALGARY, Alberta, Jan. 22, 2019 (GLOBE NEWSWIRE) -- Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX, NYSE: BXE) announces that its board of directors has determined to commence procedures for the voluntary delisting of the Company’s common shares from the New York Stock Exchange (“NYSE”). Bellatrix has notified the NYSE of its intent to file a Form 25 with the Securities and Exchange Commission (“SEC”) on or about February 1, 2019 to affect the voluntary delisting of Bellatrix’s [Read More…]
Alberta government to partially backstop new $2 billion dollar bitumen upgrader
CALGARY - The Alberta government is providing a $440 million loan guarantee to help a Calgary-based company build a new bitumen upgrader east of Edmonton. Value Creation Incorporated says it's ready to break ground on the $2 billion upgrader that would convert more than 77,000 barrels of diluted bitumen each day into medium synthetic crude and an ultra low sulphur diesel. Synthetic crude can flow easier through pipelines. Premier Rachel Notley says the loan guarantee is all the support [Read More…]
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