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]
Headlines
AltaGas Ltd. Announces Closing of $2.5 Billion Subscription Receipt Offering Comprised of $2.1 Billion Bought Deal and $400 Million Private Placement
CALGARY, ALBERTA--(Marketwired - Feb. 3, 2017) -AltaGas Ltd. ("AltaGas") (TSX:ALA) announced today that it has completed its previously announced public offering of 67,800,000 subscription receipts (the "Subscription Receipts"), on a bought deal basis, at an issue price of $31.00 per Subscription Receipt (the "Offering Price"), for total gross proceeds of approximately $2.1 billion (the "Public Offering"). Additionally, AltaGas has completed the private placement (the "Private Placement") to [Read more]
Bellatrix announces NYSE continued listing extension
TSX, NYSE: BXE - CALGARY, Feb. 3, 2017 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE: BXE) announces an extension of the continued listing and trading of Bellatrix's common shares on the New York Stock Exchange (the "NYSE") until Bellatrix's Annual Meeting of Shareholders (the "Shareholder Meeting") currently planned for May 17, 2017. Bellatrix previously announced on August 5, 2016 that it had received a continued listing standards notice from the NYSE because [Read more]
How Alberta’s economy performed in 2016 under the NDP in charts
Premier Notley and her government walked into a very difficult situation when they assumed government. Oil had dropped to a near decade low and unemployment was rising substantially. The drop in the international price of oil has been the primary talking point for Alberta's NDP. 2015 saw a poor performance for the price of oil, but fortunately, the price rose substantially in 2016 - from as low as $26/bbl in January to $53/bbl in December. Furthermore, natural gas pricing also rose - nearly [Read more]
PNG Exchange New Properties & Equipment
PNG Exchange New Properties Freehold Royalties Ltd. - Non-Op Unit WI Sale, Unleased Fee Lands Centrica Energy – Saskatchewan Fee Title Lease Auction - bids due April 28, 2017 Canadian Natural Resources Limited – Normandville, Hamburg, SE SK, Lonerock TORC Oil & Gas – Northville, Garrington, Carrot Creek, Pine Creek, Nanton, Ferrier, Kaybob-Cardium Taylor Hill Exploration Exploration Ltd. – Swan Hills TAQA North – Blue Rapids, Wilson Creek, Nordegg, Brazeau, Brant Farrow, [Read more]
TransGlobe Energy Corporation Announces 2017 Capital Budget
CALGARY, ALBERTA--(Marketwired - Feb. 2, 2017) - TransGlobe Energy Corporation ("TransGlobe" or the "Company") (TSX:TGL)(NASDAQ:TGA) announces the 2017 capital budget. All dollar values are expressed in US dollars unless otherwise stated. HIGHLIGHTS 2017 capital budget of $56.4 million ($35.2 million firm and $21.2 contingent) Egypt $25.8 million firm and $14.4 million contingent Canada $9.4 million (C$12.5 million) firm and $6.8 million (C$9.0 million) contingent 2017 [Read more]
Anti-Exxon Crusade On The Ropes After Failing To Stop Rex Tillerson’s Confirmation
A months-long campaign targeting ExxonMobil was dealt a potential death blow Wednesday after activists failed to convince Democrats to vote against confirming the company’s former president as secretary of state. Activists associated with the so-called “ExxonKnew” movement suggested they would use the confirmation hearings as an opportunity to hold the former CEO responsible for his company’s supposedly poor climate record. They also hoped to browbeat Senate Democrats into voting against [Read more]
Quattro Signs Binding Financing Term Sheet and Receives Receivership Application Notice
CALGARY, ALBERTA--(Marketwired - Feb. 2, 2017) - Quattro Exploration and Production Ltd. (TSX VENTURE:QXP) ("Quattro" or the "Company") is pleased to announce that it has signed a binding term sheet with Advisco Capital Corp. ("Advisco"), a New York-based private finance company, for the provision by Advisco of a secured revolving credit facility and secured term loan in the aggregate amount of CDN$15,000,000 (the "Proposed Loan"). The Proposed Loan has been negotiated with Advisco for the [Read more]
North Dakota pipeline protestors are creating environmental and economic problems for…the original protesting band. You can’t make this stuff up
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]
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]