While I love irony and comedy in equal measures, I take no pleasure in this little story even though it’s full of both. Well maybe a tiny bit. But certainly a tempered amount, like when reading the Darwin Awards – for example, when you read about some guy accidentally drinking gasoline, spitting it up, then lighting a cigarette to calm down, with some unsurprising results – at some point you feel for the guy’s family. But that comes in due course, after the uncontrolled laughter has [Read more]
Headlines
Sproule registered by Comisión Nacional de Hidrocarburos (CNH) to conduct petroleum reserve audits in Mexico
CALGARY, Alberta, CANADA –February 2, 2017 – Sproule announces approval by the Comisión Nacional de Hidrocarburos (CNH) of Mexico to conduct reserve audits in Mexico. As a trusted advisor to global E&P companies, financial institutions and governments, “We are excited to extend Sproule’s geoscience and engineering expertise in the successful exploration and production of Mexico’s energy resources,” says Nora Stewart, Senior Vice President, Reserves Certification. “Having a 65-year legacy [Read more]
Canadian Natural Resources Limited Horizon Update
CALGARY, ALBERTA--(Marketwired - Feb. 2, 2017) - Canadian Natural Resources Limited (TSX:CNQ) (NYSE:CNQ) ("Canadian Natural" or the "Company") provides an operations update for Horizon Oil Sands ("Horizon"). In December 2016 the Company continued to achieve higher than expected performance at Horizon, with production averaging approximately 184,000 bbl/d of Synthetic Crude Oil ("SCO"). After the successful ramp of the Phase 2B expansion, average production in the fourth quarter of 2016 reached [Read more]
Blackbird Energy Inc. Increases Montney Land Holdings to 102 Gross Sections (96.8 Net) Through Land Acquisitions at Elmworth / Pipestone and Announces Initial Montney Production
CALGARY, ALBERTA--(Marketwired - Feb. 2, 2017) - Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird" or the "Company") is pleased to announce that it has entered into a purchase and sale agreement with Paramount Resources Ltd. ("Paramount") for the acquisition of 8 gross sections of Montney rights (2.8 net) for total consideration of 5 million Blackbird common shares (the "Paramount Acquisition"), and that the Company has acquired 3 gross sections of Montney rights (3 net) through a recent [Read more]
Chinook Energy Announces Early Closing of Gold Creek Asset Disposition
CALGARY, ALBERTA--(Marketwired - Feb. 1, 2017) - Chinook Energy Inc. (TSX:CKE) ("Chinook") is pleased to announce that, further to its news release dated January 4, 2017, it has completed the disposition of certain assets located in the Gold Creek area of Alberta ahead of its previously announced closing date of February 20, 2017. The disposition included 15.6 net sections of land and related pipeline and production facilities for aggregate consideration of approximately $10.5 million, subject [Read more]
Bonavista Energy Corporation Replaces 131% of 2016 Production with the addition of 32.8 MMboe of Proved Plus Probable Reserves at no net cost
CALGARY, ALBERTA--(Marketwired - Feb. 1, 2017) - Bonavista Energy Corporation ("Bonavista") (TSX:BNP) is pleased to report that our 2016 exploration and development ("E&D") program has resulted in a finding and development ("F&D") cost of $6.97 per barrel of oil equivalent ("boe") on a proved plus probable basis. When combined with our acquisition and divestiture program ("A&D"), finding, development and acquisition ("FD&A") costs were $(0.55) per boe on a proved plus probable [Read more]
Pipeline progress means crude-by-rail slowdown could be much more long-term
CALGARY - Big moves by the Canadian and U.S. governments on oil pipelines in recent months are threatening the long-term future of the main alternative: crude shipped by rail. First the federal government approved both Enbridge's Line 3 replacement and Kinder Morgan's Trans Mountain expansion last November, while just last week TransCanada reapplied to have its Keystone XL project approved after being invited to do so by U.S. President Donald Trump. All of the projects still face [Read more]
Steelhead Petroleum Ltd. and Toro Oil & Gas Ltd. complete arrangement
CALGARY, Feb. 1, 2017 /CNW/ - Steelhead Petroleum Ltd. (Steelhead) and Toro Oil & Gas Ltd. (Toro) announced today the completion of Steelhead's acquisition, through its wholly owned subsidiary, Steelhead Acquisition Company Ltd., of all of the outstanding common shares (the Toro Common Shares) and warrants (the Toro Warrants) of Toro pursuant to an arrangement under the Business Corporations Act (Alberta) (the Arrangement). Over 99% of the votes of the holders Toro Common Shares and Toro [Read more]
For the oil and gas industry, 2017 is off to a good start – but will it last?
After a dismal 2015 and 2016 — marked by record low activity rates, thousands of layoffs and battered financial results — producers and oilfield services (OFS) companies across North America certainly hope so. A number of positive investment announcements in the sector coupled with an uptick in industry activity at the end of 2016 have the Canadian oil and gas industry hoping the momentum continues into 2017. On the positive side of the ledger, both the Petroleum Services Association of [Read more]
Vector Resources Inc. and Razor Energy Corp. Announce Completion of Qualifying Transaction, Name Change, Share Consolidation, Term Loan Facility and Strategic Asset Acquisition
CALGARY, ALBERTA--(Marketwired - Jan. 31, 2017) - Vector Resources Inc. ("Vector") (NEX:VCR.H) and Razor Energy Corp. ("Razor" or the "Company") are pleased to announce the completion of their previously announced business combination which constituted Vector's qualifying transaction (the "Qualifying Transaction") pursuant to the policies of the TSX Venture Exchange (the "TSXV"), as described in Vector and Razor's press release of December 29, 2016. Continuance, Name Change, Share [Read more]