Millennium Land Ltd. has recently launched CrownReserve, a desktop and mobile software application we have conceptualized. Similar to the how you might make a reservation for a restaurant or a flight, with CrownReserve you can securely and instantly reserve one of Millennium Land’s confidential corporate names for use in bidding at one of the upcoming Alberta or Saskatchewan Crown Land Sales. Millennium Land has a total of nine (9) active names registered on ETS and IRIS with the ability to [Read more]
Headlines
Granite Oil Corp. Provides 2019 Well Test Results, Operational and Corporate Update
CALGARY, Alberta, May 01, 2019 (GLOBE NEWSWIRE) -- GRANITE OIL CORP. (“Granite” or the “Company”) (TSX:GXO)(OTCQX:GXOCF) is pleased to provide material test results from its well drilled and completed in the second quarter of 2019, preliminary first-quarter results including significant debt repayment, and advancements in operational and Corporate efficiencies. In April, Granite successfully drilled and completed one development well in the Western portion of its Alberta Bakken property. The [Read more]
Suncor Energy reports first quarter 2019 results
CALGARY, Alberta, May 01, 2019 (GLOBE NEWSWIRE) -- “Suncor’s integrated model has consistently generated positive results through changing market conditions, including mandatory production curtailments in Alberta, and the first quarter of 2019 was no different,” said Mark Little, president and chief operating officer. “Funds from operations increased to $2.6 billion in the first quarter of 2019 as we continue to execute on our long‑term strategy.” Funds from operations were $2.585 billion [Read more]
PSAC Lowers Its 2019 Oilfield Services Activity Forecast: Market Access Challenges Suppress Reinvestment
CALGARY, AB (May 1, 2019) – Today, the Petroleum Services Association of Canada (PSAC) in its Midyear Update to the 2019 Canadian Oilfield Services Activity Forecast lowered, for a second time, its Forecast for the number of wells drilled (rig released) in 2019 across Canada to 5,300 wells - a drop of 1,300 or twenty per cent (20%) from the original Forecast of 6,600 in November 2018. PSAC has based its updated Forecast on an average natural gas price of C$1.65/mcf (AECO), crude oil price of [Read more]
Painted Pony Maintains Credit Capacity and Reduces Net Debt by $55 million, Announces First Quarter Financial and Operating Results
CALGARY, May 1, 2019 /CNW/ - Painted Pony Energy Ltd. ("Painted Pony" or the "Corporation") (TSX: PONY) is pleased to announce first quarter financial and operating results. HIGHLIGHTS: Maintained total credit capacity of $400 million; Reduced bank debt by approximately $55 million at the end of the first quarter of 2019 compared to the first quarter of 2018; Generated adjusted funds flow from operations of $46.5 million ($0.29 per share basic), compared to $46.6 million ($0.29 per [Read more]
Morneau insists LNG export terminal shows Canada can deliver big projects
OTTAWA - Finance Minister Bill Morneau argues that a $40-billion project to eventually ship liquefied natural gas to Asia from Canada's west coast shows the country can still get big things done. The federal Liberals have been facing criticism from some political foes and business leaders over Canada's regulatory hurdles, including those blamed for holding back the construction of oil pipelines out of Alberta. Morneau insists work is already underway on the LNG Canada project in British [Read more]
Alberta proclaims law that could cut energy flows to British Columbia
The new Alberta government has proclaimed into a law an act enabling it to restrict the flow of oil and gas to neighbouring British Columbia, raising the stakes in a spat between Canada's two westernmost provinces over the Trans Mountain pipeline. Alberta Premier Jason Kenney and his cabinet were sworn in on Tuesday and proclaimed the "Preserving Canada's Economic Prosperity Act" as their first order of business, Kenney told reporters at a press conference on Wednesday. The legislation, [Read more]
Trident Exploration Corp. Ceases Operations
Calgary, Alberta – We regret to announce that Trident Exploration Corp. (“Trident”) ceased operations effective April 30, 2019. All 33 employees and 61 contractors have been terminated and approximately 4,700 wells are being transitioned to the care of the AER. Trident’s total estimated abandonment and reclamation obligations are approximately $329 million. Behind these obligations, we do not anticipate any recovery for shareholders and unsecured creditors. Likewise, any recovery for secured [Read more]
Feds to exempt oilsands from new reviews unless Kenney lifts emissions cap
OTTAWA - The federal government is warning the new government in Alberta not to scrap the province's legal limit on total emissions from oilsands of 100 million tonnes a year. Ottawa has issued a proposed list of projects that will be subjected to a controversial new environmental-impact assessment process, including major interprovincial pipelines, large hydro dams and offshore wind farms. The list indicates new in situ oilsands projects won't have to go through the new review as long the [Read more]
Costs of Canadian Oil Sands Projects Fell Dramatically in Recent Years; But Pipeline Constraints and other Factors Will Moderate Future Production Growth, IHS Markit Analysis Says
WASHINGTON--(BUSINESS WIRE)--The cost of building and operating oil sands projects has fallen dramatically in recent years and total oil production is expected to rise by another 1 million barrels per day (mbd) by 2030. But external factors—such as price uncertainty caused by pipeline constraints—are contributing to a more moderate pace of production growth than in years past, a new report by business information provider IHS Markit (Nasdaq: INFO). The report, entitled Four Years of Change, [Read more]