SASKATOON, SASKATCHEWAN--(Marketwired - Feb. 6, 2017) - Westcore Energy Ltd. ("Westcore" or the "Company") (TSX VENTURE:WTR) is pleased to announce that it has entered into a farm-in agreement (the "Agreement") with Eros Resources Corp. ("Eros") to complete a 3 vertical well program on Westcore's Flaxcombe oil field. Under the terms of the Agreement, Eros will fund 100% of the cost to drill, complete and bring the wells on production in exchange for a 90% interest in the wells before payout, and [Read more]
Headlines
Panel looking at future of the NEB heading to a skeptical Vancouver
CALGARY - A cross-country tour of the panel looking into the future of the National Energy Board heads to Vancouver this week, where many expressed dismay at the workings of the regulator following its approval of the Trans Mountain pipeline expansion last year. The five-member panel tasked with making recommendations on modernizing the NEB are looking to hear about potential changes to its structure, mandate and role that have been left largely unchanged since it was created in 1959. [Read more]
Premier Brad Wall warns Saskatchewan deficit has climbed to $1.2 billion
SASKATOON - Saskatchewan Premier Brad Wall says the provincial deficit is up to about $1.2 billion and wage freezes or job cuts are on the table for public-sector workers. Wall delivered the grim financial news to delegates at the Saskatchewan Urban Municipalities Association convention. "(A) non-essential hiring freeze has been in place now in government for some time and we've made some progress, but we're not anywhere near close to having dealt with this gap," Wall said [Read more]
Where was the money spent? A snapshot of upstream M&A activity in 2016
According to BOE Report M&A Database, over $14 billion of Western Canadian upstream deals closed in 2016, comprised of over 339,000 BOE/D. Oil sands transactions topped the list with nearly $6 billion (comprised of 147,000 BOE/D) worth of transactions. Suncor Energy's acquisition of Canadian Oil Sands. The Montney was the most active shale play with over $4 billion (with 93,000 BOE/D) worth of deal. The largest transactions were Seven Generations purchase of assets from Paramount [Read more]
Bellatrix Announces Board of Director Changes
TSX, NYSE: BXE - CALGARY, Feb. 6, 2017 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE: BXE) announces that Mr. Doug Baker has resigned as a member of the Board of Directors (the "Board") of the Company, citing personal and family reasons. Mr. Baker joined the Board in 2007, and was a member of the Company's Corporate Governance Committee and the Chair of the Audit Committee. "Mr. Baker has been an invaluable member of the Board, providing insight and stewardship [Read more]
New Oil and Gas Jobs From BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up here to create an account to post jobs; it's simple and easy to use. Feb. 5 Coil Tubing Operator - Medicine Hat Calfrac Well Services Medicine Hat Feb. 5 Class 1 - Fracturing Operator - Grande Prairie Calfrac Well Services Grande Prairie Feb. 5 Class 1 - Fracturing Operator [Read more]
Northern Blizzard Resources Inc. Announces Final Results of Issuer Bid
CALGARY, Feb. 3, 2017 /CNW/ - Northern Blizzard Resources Inc. ("Northern Blizzard" or the "Company") (TSX:NBZ) announces that it has taken up and paid for 22.5 million common shares ("Shares") at a price of $4.00 per Share under the Company's $90.0 million issuer bid (the "Offer"). The Shares purchased represent 18.2% of the Shares outstanding immediately prior to the purchase. After giving effect to the purchase, Northern Blizzard has 101,005,757 Shares issued and outstanding. Shareholders [Read more]
Canada’s oilpatch fears U.S. rejection of methane limit will hurt competitiveness
CALGARY - A vote Friday by the U.S. House of Representatives to axe new limits on methane emissions from drilling threatens to harm the competitiveness of Canada's energy industry, says the Canadian Association of Petroleum Producers. The move to eliminate an initiative from former U.S. president Barack Obama means the Canadian oilpatch will be on its own when it comes to taking on additional costs from reducing methane, said Alex Ferguson, vice-president of policy for CAPP. Last [Read more]
Marksmen Announces Update Regarding Private Placement
CALGARY, ALBERTA--(Marketwired - Feb. 3, 2017) - Marksmen Energy Inc. ("Marksmen" or the "Company") (TSX VENTURE:MAH)(OTCQB:MKSEF) announces that, further to its previous press release, it intends to complete by March 3, 2017 one or more additional closing(s) of its previously announced non-brokered private placement of up to 12,500,000 units (the "Units") of Marksmen at a price of $0.10 per Unit for aggregate gross proceeds of up to $1,250,000 (the "Private Placement"). The Company has [Read more]
Canada rig count down 2 rigs this week to 343
Canada's rig count dropped by 2 to 345 rigs this week. Rig activity is still strong versus one year ago when only 242 were working. Of the active fleet 197 are drilling for oil and 146 for gas. United States rig count has been steadily climbing since last June. Most recent count has 729 active drilling rigs. up 17 from last week and 326 from last June's low. Canada rig counts are still substantially lower than 3 years ago, when 600 rigs were steadily active through the drilling [Read more]