Gear Energy Ltd. has retained CB Securities Inc. as its exclusive advisor for this sale. Vermilion Property Current production is 127 Bbls/day, of which 87% is from five (5) 100% working interest wells Operating Results for 7 months in 2017 $44.25/Bbl average price received ($4.80 less than WCS average) 144 Bbls/day average oil rate 4.8% royalties $29.50/Bbl operating costs Wet spring resulted in higher May/June 2017 costs $23.45/Bbl is expected going forward [Read more]
Headlines
Backwardation beckons for WTI as crude stocks fall: Kemp
LONDON, Oct 24 (Reuters) - U.S. crude prices appear set to follow the international Brent benchmark from contango into backwardation in the next few months as oil inventories in the United States dwindle. U.S. commercial crude stocks have fallen by 23 million barrels since the start of the year, compared with an increase of 19 million barrels at the same point in 2016, and an average seasonal rise of 24 million barrels in the last decade. U.S. light sweet crude (WTI) futures for the contract [Read more]
Leucrotta Announces Update on Operations and Financial Position
CALGARY, Alberta, Oct. 24, 2017 (GLOBE NEWSWIRE) -- Leucrotta Exploration Inc. (“Leucrotta” or the “Company”) (TSXV:LXE) is pleased to announce the following update: PRODUCTION ON 8-4 AND A8-22 LOWER MONTNEY TURBIDITE OIL WELLS Leucrotta recently tied in and started producing the 8-4 Lower Montney Oil well. The 8-4 well had an IP30 of 747 boepd comprised of 317 bopd of light oil, 2.2 mmcf/d of gas, and 60 boepd of ngls. This compares favourably to Leucrotta’s IP30 type curve of 584 boepd [Read more]
Suncor Energy applies to AER for approval of Meadow Creek West project
EDMONTON - Suncor Energy (TSX:SU) has applied to the Alberta Energy Regulator for approval of its Meadow Creek West project. According to the AER, the project would recover 6,359 cubic metres per day (40 000 barrels per day) from the McMurray Formation using steam-assisted gravity drainage technology. The project would include a central processing facility with associated facilities, cogeneration facilities, thermal injection wells, production wells, water source wells, disposal [Read more]
Yangarra Resources and NCS Multistage Announce Record-Breaking Well in the Cardium Formation
CALGARY, Alberta, Oct. 23, 2017 (GLOBE NEWSWIRE) -- Yangarra Resources Ltd. (“Yangarra”) and NCS Multistage Holdings, Inc. (Nasdaq:NCSM) (“NCS Multistage”) have completed a 135-stage well in the Cardium Formation in 116 operating hours. The well was completed in a single coiled-tubing run with 7.4 million lb (3,374 tonnes) of proppant placed and an average frac rate of 34.59 bbl/min (5.5 m3/min). The completion alternated between single- and double-casing joint spacing between fracture sleeves, [Read more]
Pengrowth Announces Closing of Sale of Non-Core Alberta Assets and Third Quarter Conference Call Details
CALGARY, ALBERTA--(Marketwired - Oct. 23, 2017) - Pengrowth Energy Corporation (TSX:PGF)(NYSE:PGH) is pleased to report that it has closed the sale of its non-core Alberta legacy assets previously announced on October 18, 2017. The Company also announces that it intends to release its third quarter results for the period ending September 30, 2017 on Thursday, November 9, 2017, following the close of equity markets. A conference call and listen only audio webcast will be held, beginning at [Read more]
Tillerson urges Iraq, Kurds to resolve conflict through dialogue
BAGHDAD (Reuters) - U.S. Secretary of State Rex Tillerson urged the Iraqi government and the Kurdistan region on Monday to resolve their conflict over Kurdish self-determination and disputed territories through dialogue. Tillerson made the call at the start of a meeting in Baghdad with Iraqi Prime Minister Haider al-Abadi, who in turn defended the role of an Iraqi paramilitary force backed by Iran against criticism made by the secretary of state on Sunday. “We are concerned and a bit sad,” [Read more]
Canada Action seeks volunteers to help promote Canada’s energy industry
Canada Action invites you to join us at our Canada Action Volunteer coordination kick-off event! Join the positive discussion surrounding Canadian resource development in the interest of improving the lives of all Canadians. It will take place on November 2nd, at Fort Calgary, from 6:00 to 8:00 pm. You can expect to have interactive stations, speakers, and networking opportunities. Please RSVP to info@canadaaction.ca. Or alternatively, RSVP through our meetup group. [Read more]
Dandelions found in oilsands tailings could help clean them up: researchers
It wasn't much of a bouquet — just a single lonely dandelion. But it had been plucked from the middle of a barren stretch of oilsands coarse tailings. University of Saskatchewan biologist Susan Kaminskyj knew right away that made it something special. "I was really excited," she said. "Plants that grow in extreme environments very seldom do it by themselves." It took her about two weeks to find out what was helping the dandelion survive the harsh, acidic, water-repelling [Read more]
BC happy to export US coal but not Canadian petroleum – that’s bad for the environment and for Canada
If drunk drivers terrify you, would you let your drunken guests drive themselves home well in advance of when you go out, to avoid the danger? Or, less esoterically, if you want to fight climate change, should you work to enable a substance that produces a quarter of global greenhouse gases or one that produces a small fraction of that? It’s not a hypothetical issue, we’ve just seen it in all its misery. This past summer during British Columbia’s provincial election, a brazenly hypocritical [Read more]