An explosive debate about fraccing erupted on air between Stuart Varney of Fox Business Network and documentary filmmaker and anti-fraccing advocate Josh Fox. The United States' Environmental Protection Agency (EPA) released a study last week that claimed in its executive summary that there is insufficient evidence to suggest “fraccing” has caused widespread environmental issues largely related to drinking water. The accuracy of the EPA's finding's were the focus of the intense [Read more]
News
Pengrowth Reports Lindbergh Production That Exceeds Facility Nameplate Capacity of 12,500 bbl/d and Confirms CDN $0.02 Cash Dividend Payable July 15, 2015
CALGARY, ALBERTA--(Marketwired - June 8, 2015) - Pengrowth (TSX:PGF) (NYSE:PGH) is pleased to report that production from the Lindbergh thermal project now exceeds the project's nameplate capacity of 12,500 barrels per day (bbl/d). With all three well pads now on SAGD (steam assisted gravity drainage) production, the project is currently producing in excess of 13,000 bbl/d with an instantaneous steam oil ratio of 1.9. Installation of the remaining downhole electric submersible pumps (ESPs) was [Read more]
AltaGas commits to LNG terminal by 2018, challenges international report
CALGARY - The CEO of AltaGas Ltd. says his company is on track to building Canada's first liquefied natural gas export terminal by 2018, challenging an international report that said no such facility will be built in the country by 2020. "We think we'll prove them wrong in this decade," David Cornhill said Monday in an interview following a report last week by the International Energy Agency. Cornhill said the company is making progress on plans for the Douglas Channel LNG terminal in [Read more]
CAPP president: Technology key to meeting G7 climate change goals
CALGARY - A lot can change in 85 years.A G7 goal to shift to a no-carbon economy over the course of this century isn't spooking Canada's biggest oil and natural gas industry group.Tim McMillan, head of the Canadian Association of Petroleum Producers, said technology will be key.Advancements that "wouldn't have been conceivable" a century ago are commonplace today, he said."When a country or a world puts its mind to something it can be pretty powerful."But environmental groups had a different [Read more]
Yangarra Provides Operations Update
CALGARY, June 8, 2015 /CNW/ - Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSX:YGR) provides an operations update on cemented liner and drilling operations. Yangarra drilled two Cardium wells (1 mile laterals) in 2015 from the same surface pad using cemented liner and sliding sleeves, the first as an 18 stage well and followed up with a 30 stage well. Initial production for the first 30 days ("IP 30") was 158 boe/d and 190 boe/d (both 91% oil), respectively, which is approximately a [Read more]
G7 puts Canada on the spot, calls for low emissions in energy sector
SCHLOSS ELMAU, Germany - Canada's energy sector will have to transform itself to lower greenhouse gas emissions in the long term, Prime Minister Stephen Harper said Monday.He was commenting at the end of the G7 leaders' summit which called on its members to put their energy sectors on a low-carbon footing by 2050, a move with serious implications for Canada's greenhouse-gas-emitting oilsands.German Chancellor Angela Merkel fell short of her goal of pushing her fellow leaders to a broad, [Read more]
Bonterra Energy Corp. Announces $38.4 Million Private Placement to Existing Shareholders
CALGARY, ALBERTA--(Marketwired - June 8, 2015) - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX:BNE) (the "Corporation" or "Bonterra") is pleased to announce that it intends to complete a non-brokered private placement of up to 1,200,000 common shares of the Corporation ("Common Shares") at a price of $32.00 per Common Share for aggregate gross proceeds of up to $38.4 million (the "Offering"). The Offering price of $32.00 represents approximately a 2.7% ($0.90) discount from the closing [Read more]
Manitok Energy Inc. Announces an Update on its Acquisition in Southern Alberta and up to a $25.0 Million Equity Financing
CALGARY, ALBERTA--(Marketwired - June 8, 2015) - Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) is pleased to provide an update on the acquisition of approximately 1,800 boe/d of production (66% oil and liquids) and a related 25,000 bbls/d fluid processing facility in the Wayne area of southeast Alberta (the "Wayne Assets") for total cash consideration of $61.5 million prior to transaction costs and customary closing adjustments (the "Proposed Acquisition"). On June 5, [Read more]
Softrock announces production at Charlie Lake
CALGARY, June 8, 2015 /CNW/ - Softrock Minerals Ltd is pleased to announce that as well as filing with SEDAR their first quarter 2015 Financials and MD&A, they have received the first three months of production from the Charlie Lake formation from the first horizontal well drilled and fraced on their one section crown lease in the Spirit River area of Northwestern Alberta. The well averaged 174 BOEPD, 93% oil which is good news for the seven additional wells which may be drilled on the [Read more]
Cenovus set to restart production at Foster Creek oilsands project by Monday
CALGARY - Cenovus Energy says it expects to restart production at its Foster Creek oilsands operation by Monday.The 135,000-barrel-a-day facility, which is jointly owned by ConocoPhillips, has been offline since May 23 because of a large wildfire in the area.Cenovus Energy says it will take several days to return to full production, but it expects camps to be fully operational at the start of next week.On June 3, Canadian Natural Resources said production was ramping back up at its Kirby South [Read more]