CALGARY, Feb. 8, 2017 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) announces the Company's intention to increase its dividend from $0.075 per year ($0.00625 per month) to $0.085 per year ($0.00708 per month) effective March 15th, 2017. Surge continues to experience increasing production volumes, as a result of continued excellent drilling and waterflood results at its three core properties at Shaunavon, Sparky, and Valhalla. On December 13, 2016 Surge upwardly revised the [Read more]
Headlines
More than 80,000 Inactive Oil Wells in Alberta. Opportunity or Environmental Hazard for Albertans?
CALGARY, Feb. 8, 2017 /CNW/ - Alarms are being raised over the growing number of inactive oil and gas wells in Alberta, which now exceeds 80,000. Why are there so many? Cost. Today, The School of Public Policy and author Lucija Muehlenbachs released a report that examines the potential harm inactive wells can cause and deciphers the rationale for leaving oil and gas wells inactive. Non-producing wells are routinely kept in a state of "inactive" suspension on the hope that someday oil [Read more]
This past January, Divestco digitized its 100,000th well
Divestco is pleased to announce that this January we digitized our 100,000th well in the Western Canadian Sedimentary Basin! And thousands more internationally. A special thank you to all our clients and great staff that have enabled us to reach this number. Divestco has been digitizing logs for over 40 years. During this time, we have honed our speed, quality and service to be second to none. We digitize both International and WCSB logs from either digital or paper formats delivering [Read more]
More people calling Prairies home, despite lower oil prices, economic downturn
REGINA - At the peak of the last oil boom, there were so many people living in the southeastern Saskatchewan city of Estevan that there was nowhere to stay. "We had people sleeping in trailers — sleeping in vehicles, if you can believe that," recalled Estevan Mayor Roy Ludwig. Then oil prices fell, drilling activity slowed to a crawl and Ludwig figures the community lost about 2,000 people, mostly transient workers. By last fall, Estevan had a vacancy rate of 27.6 per cent, [Read more]
Sproule invites you to attend Sproule Webinar Series: Predicting Long Term Well Performance using Early Life Data, February 28, 2017
Sproule Webinar Series Predicting Long Term Well Performance Using Early Life Data Presented by: Matthew Tymchuk, Manager, Capital Strategies When preparing performance estimates, what early life production data should be considered? Investment decisions are often made using wells with short production history as detailed early life production and test data are usually not publicly available and is time-consuming to evaluate. This webinar will: Examine play-level strategies [Read more]
Sproule Enters Brazil’s Oil and Gas Market with Strategic Hire
CALGARY, AB, CANADA – February 7, 2017 – Sproule, a leading global energy consulting firm, is pleased to announce the addition of a new senior energy executive, Nelson Narciso Filho, to lead its business development efforts in Brazil. Mr. Narciso brings 35 years of global oil and gas experience. He has worked start-up operations in Brazil, Angola and Namibia, having held positions at Brazilian exploration and production company HRT Africa, and oilfield service providers Halliburton, ABB, [Read more]
A timeline of the Dakota Access oil pipeline
BISMARCK, N.D. - Notable events in the dispute over the four-state, $3.8 billion Dakota Access oil pipeline. ___ December 2014 — Dallas-based Energy Transfer Partners applies to the federal government to build the 1,200-mile Dakota Access pipeline to carry North Dakota oil through the Dakotas and Iowa to an existing pipeline in Illinois. The pipeline is projected to carry half a million barrels of oil daily. The proposed route skirts the Standing Rock Sioux tribe's reservation [Read more]
Questerre updates Quebec resource assessment
CALGARY, Feb. 8, 2017 /CNW/ - Questerre Energy Corporation ("Questerre" or the "Company") (TSX,OSE:QEC) reported today on the resource assessment (the "Resource Assessment") of its Utica acreage in the St. Lawrence Lowlands, Quebec ("Quebec"). The best estimate by the Company's independent reserve engineers of unrisked Prospective Resources net to Questerre is 5.8 Tcf (965 million barrels of oil equivalent ("boe")). This represents a 30% increase over the 2010 year-end assessment by [Read more]
Seattle to cut ties with Wells Fargo over oil pipeline
SEATTLE - The Seattle City Council on Tuesday voted to cut ties with banking giant Wells Fargo over its role as a lender to the Dakota Access pipeline project as well as other business practices. The crowd erupted in cheers and chanted "water is life" when the council unanimously passed the measure, which directs officials to end the city's contract with the San Francisco-based bank once it expires in 2018 and not to make new investments in Wells Fargo securities for three years. [Read more]
Advantage Announces 2016 Year-End Reserves
Record Low Proved Developed Producing Reserve Addition Cost of $0.84/mcfe ($5.04/boe) Underscores Outperformance In All Reserve Categories (TSX: AAV, NYSE: AAV) CALGARY, Feb. 7, 2017 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to report that the Corporation achieved record low reserves addition costs and capital efficiencies in 2016 which continues to demonstrate the ongoing strength of its industry leading low cost and profitable natural gas development [Read more]