Freehold Royalties Ltd., and Freehold Royalties Partnership (“Freehold”) are selling non-core Working Interest assets in Alberta, Saskatchewan, and BC, which represent a 12-month trailing NOI of approximately $1.9 million (July 2017 – June 2018). The current net production for all of the Assets is approximately 407 boe/d with a liquids weighting of 65% (June 2018). They represent a current annualized NOI of $1.9 million over 228 gross wells and 48 net wells with an average Working [Read more]
Headlines
Pulse Oil Announces Public Equity Offering and Concurrent Strategic Private Placement to Fund Bigoray Enhanced Oil Recovery and Multi-well Drill Program
CALGARY, Alberta, Oct. 15, 2018 (GLOBE NEWSWIRE) -- Pulse Oil Corp. (TSX-V:PUL and PUL.WT) (the “Company” or “Pulse”) is pleased to announce that it intends to complete a private placement (the “Strategic Investment”) with certain strategic investors, whereby the Company will issue an aggregate of such number of units (the “Private Placement Units”) of the Company for expected gross proceeds of $5,500,000. Each Private Placement Unit will consist of one Common Share and one-half of one Common [Read more]
Digital Transformation for E&P Means Closer Look at Data Management
Geoscience industry turns to consultants to bring data up to speed Digital transformation could revolutionize the subsurface data programs for companies whose vast data archives reside on paper or some other form of inaccessible legacy media. The transition from legacy media and “paper to digits” for seismic, well logs, well files, maps, graphics and reports will be imperative for the industry to keep up with the pace of innovation. Creating a searchable, accessible digital version of all [Read more]
Gibson Energy Announces One Million Barrel Expansion at Hardisty Terminal
All financial figures are in Canadian dollars unless noted otherwise CALGARY, Alberta, Oct. 15, 2018 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (“Gibson” or the “Company”), (TSX: GEI), announced today the sanction of one million barrels of new tankage at the Hardisty Terminal, underpinned by a long-term agreement with an investment grade, senior oil sands customer. “With nearly a half-billion dollars of sanctioned growth capital relative to an annual target of $150 to $200 million, Gibson has [Read more]
Canadian heavy oil and bitumen are still critical to American energy security
As discussed last week at the Calgary Energy Roundtable, as U.S. output soars to record levels, Canada risks losing its edge. However, David McLellan, Principal at Ridgeway at Strategic Consulting Ltd., who recently spoke with BOEReport.com, has a different take on Canada’s role and he is pragmatically optimistic. “The application of HZ multi-stage fracturing to unconventional reservoirs has changed global energy dynamics. The USA has seen the greatest gains by increasing production from [Read more]
You’ve blown it IPCC: Social engineering is not science, and no one believes you
I had a weird reference sheet that I carried around forever, one that represented a chink in the armour of academia. It was a photocopy of a page from a manufacturing cost accounting textbook I kept from university days. The page contained a cost-volume-profit problem about a washing machine manufacturer. If the manufacturer used a cheaper component, profit margin would increase by a certain percent, but sales would go down because the machines were less reliable. It was a simple profit vs. [Read more]
Enbridge begins building road to pipeline fire site in British Columbia
Enbridge Inc said on Sunday it has started work on a temporary access road to the site of a natural gas pipeline fire last week in northern British Columbia, which disrupted refinery operations in the U.S. state of Washington. "We expect this activity will take a few days to complete. This work is necessary to mobilize construction crews and equipment to the site, which will be used to repair the 36-inch pipeline," it said in a statement. The company, however, said it could not [Read more]
The Government of Canada needs to pause and review its plans for Bill C-69 in order to get it right for Canadians
CALGARY, Alberta, Oct. 15, 2018 (GLOBE NEWSWIRE) -- The Canadian Association of Petroleum Producers (CAPP) is asking the federal government to pause and review its plans for Bill C-69 and further consider the long-term impacts to the country and Canadians. By working collaboratively with the oil and natural gas industry and other stakeholders, the government can make the Bill what Canada needs it to be – a framework for an efficient process that maintains high environmental standards and in [Read more]
A Measurement Revolution: Chart-Reading, Schematics, and Meter Calibration
Many oil and gas companies are facing challenges when it comes to innovation and adopting the latest technologies. In a world of artificial intelligence, computer visioning, and cloud computing, the oil and gas industry still largely depends on paper schematics, conventional post, and physical charts for their measurement needs. Chart reading is critical to operations, yet dozens of companies still use traditional, physical charts to record crucial measurements. This traditional process of [Read more]
Cold Bore Technology Inc. Announces Financing by Rice Investment Group and New Director Appointment
Calgary, Alberta October 15, 2018 – Cold Bore Technology Inc. (“Cold Bore” or the “Company”) is pleased to announce the closing of an investment by Rice Investment Group (“RIG”) as well as the appointment of Toby Rice to the Board of Directors. Cold Bore is a global leader in fracturing optimization software, developing the first Industrial Internet of Things based Electronic Completions Recorder and remote frac operating system deployed by Cold Bore’s SmartPADTM service. The Company’s [Read more]