‘LMR and Volumetrics’ easy to use, yet handle sophisticated calculations for you. ‘geoLOGIC Data Center’ with central and eastern data—a truly national data solution. Join us in January for an informative session on leveraging your A&D decisions with geoLOGIC’s products. Refreshments will be provided. LMR LMR is the solution for making well-informed acquisitions and divestitures. Create scenarios to forecast your LMR and develop the best strategy for your next [Read more]
Headlines
ConocoPhillips Provides 2016 Asset Disposition Program Update, Continues Debt Repayment and Initiates Share Repurchase Program
HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today announced it has completed its planned 2016 asset dispositions. The proceeds from these dispositions are being used for debt reduction, share repurchases and general corporate purposes. The company generated approximately $1.3 billion of proceeds from asset dispositions in 2016. Approximately $0.8 billion of these proceeds will be recorded in the fourth quarter, primarily reflecting the sale of the company’s interests in Senegal and [Read more]
Steelhead Petroleum Ltd. to Acquire Toro Oil & Gas Ltd. for All Cash Consideration
CALGARY, Dec. 13, 2016 /CNW/ - Toro Oil & Gas Ltd. (TSXV: TOO) ("Toro") announces that they have entered into a definitive agreement (the "Arrangement Agreement") with Steelhead Petroleum Ltd. ("Steelhead"), a private ARC Financial Corp. sponsored company, pursuant to which Steelhead will acquire all of the outstanding common shares of Toro for $0.37 per share in cash and the common share purchase warrants of Toro for $0.0001 per warrant in cash. The transaction is to be completed by way of [Read more]
Gear Energy Ltd. Announces Operations Update and 2017 Budget
CALGARY, ALBERTA--(Marketwired - Dec. 13, 2016) - Gear Energy Ltd. ("Gear" or the "Company") (TSX:GXE) is pleased to provide the following update to shareholders. OPERATIONS UPDATE Throughout the fourth quarter of 2016 Gear completed the following items of note: Successfully drilled two full section Basal Belly River horizontal wells in Wilson Creek. The first well was fracture stimulated in early December and is currently flowing back. The second well is scheduled to be stimulated [Read more]
Surge Energy Inc. announces upward revision to 2017 production guidance
CALGARY, Dec. 13, 2016 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) announces that its Board of Directors has formally approved an upward revision to the Company's previously announced 2017 preliminary production guidance. Pursuant to a Press Release dated September 6, 2016, Surge provided preliminary capital expenditure and production guidance for 2017. Based on continued successful development drilling results at the Company's Shaunavon, Sparky and Valhalla core areas, [Read more]
Inter Pipeline Announces $450 million Medium-Term Note Offering
CALGARY, ALBERTA--(Marketwired - Dec. 13, 2016) - Inter Pipeline Ltd. ("Inter Pipeline") (TSX:IPL) announced today that it has agreed to issue $450 million of senior unsecured medium-term notes in the Canadian public debt market. The notes will have a fixed interest rate of 3.484% per annum, payable semi-annually, and will mature on December 16, 2026. The offering is expected to close on or about December 16, 2016, subject to customary closing conditions. Inter Pipeline will use the net [Read more]
Two Texans who love Canadian oil offered pipeline-policy roles in Trump cabinet
WASHINGTON - Donald Trump's prospective cabinet is now stacked with friends of Canadian oil, with vocal proponents of the Keystone XL pipeline his picks to run key posts in the State and Energy departments. Both are from the state where the pipeline concludes: Texas. Trump announced Tuesday that he'll ask Congress to approve Exxon CEO Rex Tillerson as the U.S's top diplomat — and the decision on international pipeline permits belongs to the secretary of state. And Rick [Read more]
Tillerson pick as Secretary of State shows US has better political system than Canada
It was announced today that current ExxonMobil Chairman and CEO Rex Tillerson will be the next Secretary of State for the United States. A native of Wichita Falls, Texas, Tillerson came to Exxon as a production engineer from the University of Texas at Austin in 1975 and has been with the world's fifth largest company by market capitalization ever since. As the Associated Press reported, Tillerson, groomed for an executive position, came up in the rough-and-tumble world of oil production, [Read more]
3 indicators Canada’s oilpatch is picking up
There seems to be more activity in western Canada's oil and gas industry. This is a seasonal occurrence as winter drilling resumes, however this time things seem to be moving at a better pace than previous years. Here are three indicators which support the upward momentum. 1. Oil prices skyrocket Crude oil made a huge run of late, up to $53/bbl for WTI crude. Oil has gained almost 20 percent since OPEC announced Nov. 30 it will cut output for the first time in eight years. 2. Rig [Read more]
Husky Energy To Grow Margins And Invest In Higher Return Production
CALGARY, AB--(Marketwired - December 13, 2016) - Husky Energy (TSX: HSE) announced today its 2017 production guidance and capital program. "Our vitals are strong, including a solid balance sheet, a low break-even and a high return portfolio," said CEO Rob Peabody. "Our investment program will generate higher margins, further lower our corporate break even and increase our free cash flow." As a result of the ongoing transformation, overall sustaining and maintenance capital requirements [Read more]