Western Canada’s fleet of drilling rigs increased this week to 217 actively drilling rigs according to data collected by Baker Hughes for the week of August 11th. From one week ago, Alberta rig counts increased to 148 rigs from 145, the Saskatchewan rig count increased to 45 from 42. Oil drilling increased to 127 rigs from 124; gas rigs remained at 93. View a full breakdown of western Canada’s rig activity. [Read more]
Headlines
We need to care more about how our government spends
A story broke that United Conservative Party MLA Derek Fildebrandt rented out his taxpayer-subsidized apartment on AirBNB. Most people saw this as a wrong-doing by Fildebrandt, as they should. Fildebrandt made $2,555 from AirBnb, which he donated to Alberta's debt after the income became controversy. Fildebrandt is especially hypocritical, since he used to look for very similar spending/double-dipping habits while at the Canadian Taxpayers Federation. This is not a new story though, as [Read more]
Pengrowth Announces Closing of $300 Million Olds/Garrington Area Asset Sale
CALGARY, ALBERTA--(Marketwired - Aug. 11, 2017) - Pengrowth Energy Corporation (TSX:PGF)(NYSE:PGH) is pleased to report that it has closed the previously announced sale of its Olds/Garrington area assets in Central Alberta for cash consideration of $300 million, before customary closing adjustments. The sale proceeds will provide the Company with additional financial flexibility and help improve its balance sheet strength. The Company continues to seek out opportunities to further reduce [Read more]
CAODC Condemns B.C. Government’s Decision on Trans Mountain Expansion
The Canadian Association of Oilwell Drilling Contractors (CAODC) condemns the Government of British Columbia’s decision to take legal action in order to halt the Kinder Morgan Trans Mountain Expansion Pipeline project. Today British Columbia’s Environment and Climate Change Strategy Minister George Heyman announced his government has retained external legal counsel to initiate legal action related to the Trans Mountain Expansion Pipeline. Mr. Thomas Berger, QC, OC, OBC has been secured by the [Read more]
Enerplus Announces Second Quarter 2017 Results
CALGARY, Aug. 11, 2017 /CNW/ - Enerplus Corporation ("Enerplus" or the "Company") (TSX & NYSE: ERF) is pleased to announce its second quarter 2017 operating and financial results. The Company reported second quarter 2017 net income of $129.3 million, or $0.53 per share. This compares to a second quarter 2016 net loss of $168.6 million, or $0.77 per share. SECOND QUARTER 2017 HIGHLIGHTS: 35% production growth in North Dakota quarter-over-quarter Generated adjusted funds flow of [Read more]
Questerre releases second quarter 2017 results
CALGARY, Aug. 10, 2017 /CNW/ - Questerre Energy Corporation ("Questerre" or the "Company") (TSX,OSE:QEC) reported today on its financial and operating results for the quarter ended June 30, 2017. Michael Binnion, President and Chief Executive Officer of Questerre, commented, "While we invested in building reserves at Kakwa, we continued to move Quebec and Jordan forward during the quarter. In addition to the infrastructure expansion at Kakwa, three joint venture wells were completed. [Read more]
Eagle Energy Inc. Announces Second Quarter 2017 Results, Succession Plan and Cost Reduction Initiatives
CALGARY, ALBERTA--(Marketwired - Aug. 10, 2017) - Eagle Energy Inc. (TSX:EGL) ("Eagle") is pleased to report its financial and operating results for the second quarter ended June 30, 2017 as well as provide an update on additional cost reduction initiatives. Richard Clark, Eagle's Chief Executive Officer, stated, "I am pleased with our technical team's progress toward commencing drilling on our North Texas asset. We now own over 24,000 net acres in North Texas. This land position is focused [Read more]
Tamarack Valley Energy Ltd. Announces Record 2017 Second Quarter Results, Continued Operational Success and Increased 2017 Exit Production Guidance
CALGARY, Alberta, Aug. 10, 2017 (GLOBE NEWSWIRE) -- Tamarack Valley Energy Ltd. (“Tamarack” or the “Company”) is pleased to announce its financial and operating results for the three and six months ended June 30, 2017. Selected financial and operational information is set out below and should be read in conjunction with Tamarack’s unaudited condensed consolidated interim financial statements for the three and six months ended June 30, 2017 and related management’s discussion and analysis [Read more]
Cequence Energy Announces 2017 Second Quarter Financial and Operating Results
CALGARY, Aug. 10, 2017 /CNW/ - Cequence Energy Ltd. ("Cequence" or the "Company") (TSX: CQE) is pleased to announce its operating and financial results for the three and six month periods ended June 30, 2017. The Company's Consolidated Financial Statements and Management's Discussion and Analysis are available at cequence-energy.com and on SEDAR at www.sedar.com. Operational and financial highlights of the Company from the second quarter include: Increased funds flow from [Read more]
Perpetual Energy Inc. Releases Second Quarter 2017 Financial and Operating Results
CALGARY, Aug. 10, 2017 /CNW/ - (TSX:PMT) - Perpetual Energy Inc. ("Perpetual", the "Corporation" or the "Company") is pleased to release its second quarter 2017 financial and operating results. A complete copy of Perpetual's unaudited condensed interim consolidated financial statements and related Management Discussion and Analysis ("MD&A") for the three and six months ended June 30, 2017 can be obtained through the Company's website at www.perpetualenergyinc.com and SEDAR at [Read more]