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]
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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]
Raging River Exploration Inc. Announces 2016 Year End Reserves, Preliminary 2016 Results and Operations Update
CALGARY, ALBERTA--(Marketwired - Feb. 7, 2017) - Raging River Exploration Inc. ("Raging River" or the "Company") (TSX:RRX) is pleased to present the results of the independent reserves report (the "Sproule Report") prepared by Sproule Associates Ltd. ("Sproule") as of December 31, 2016. During 2016, the Company invested $403.5 million (unaudited) consisting of $192 million of acquisition capital and $211.5 million of development capital into the expansion and development of the Viking play. [Read more]
Chinook Energy Inc. Announces Its Unaudited 2016 Year End Results and Reserves
CALGARY, ALBERTA--(Marketwired - Feb. 7, 2017) - Chinook Energy Inc. ("Chinook" or the "Company") (TSX:CKE) today announced its unaudited 2016 year end results and the results of its year end reserve evaluation effective December 31, 2016 as prepared by its independent evaluator. Chinook's audit of its 2016 annual consolidated financial statements is not yet complete and accordingly all financial amounts referred to in this news release are unaudited and represent management's estimates. [Read more]
Bonterra Energy Corp. Announces 2016 Year End Corporate Reserves Information
CALGARY, ALBERTA--(Marketwired - Feb. 7, 2017) - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX:BNE) ("Bonterra" or "the Company") is pleased to provide the summary results of its independent reserve report (the "Sproule Report") prepared by Sproule Associates Limited ("Sproule") with an effective date of December 31, 2016. Corporate Reserves Information The following summarizes certain information contained in the Sproule Report. The Sproule Report was prepared in accordance with the [Read more]
Alberta spuds most wells in January in 2 years
It should come as no surprise that along with the gradual increase in the prices oil and gas, rig activity has also increased. This past January, the number of wells spud was at its highest in two years with 717 wells spud. This is compare to 2015 when the total amounted to 767. The breakdown between oil and gas wells amounted to 524 or 73% for oil, and 193 for natural gas.The increase from one year ago was substantial. In Januray of 2016, a total of 479 wells were spud. The following is a [Read more]
Statoil announces plans to drill two exploration wells in Newfoundland offshore
ST. JOHN'S, N.L. - Statoil is planning to drill two exploration wells in the Flemish Pass Basin east of Newfoundland later this year. The Norwegian energy giant's announcement Tuesday builds upon a light oil discovery in 2013 in the Bay du Nord offshore reservoir, about 500 kilometres northeast of St. John's, N.L. The drilling program comes two months after Statoil sold off all of its oilsands operations to Athabasca Oil Corp. Statoil is a major player in Newfoundland's [Read more]
XI Technologies – ARO Workshop and an Introduction to XI’s ARO Cost Model
As the industry leader in A&D and liability analysis software, XI Technologies is excited to announce a workshop to introduce the latest tool to compliment our powerful LLR Analysis Module: ARO Cost Model Workshop: ARO vs. LLR - Getting past common government regulator oversights to understand liability costs Estimating retirement obligation liability for a portfolio of wells/facilities or an entire company is a crucial, yet difficult aspect of scoping for A&D deals. LLR ratios [Read more]
Baker Hughes Announces January 2017 Rig Counts
HOUSTON--(BUSINESS WIRE)--Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for January 2017 was 933, up 4 from the 929 counted in December 2016, and down 112 from the 1,045 counted in January 2016. The international offshore rig count for January 2017 was 206, down 4 from the 210 counted in December 2016, and down 36 from the 242 counted in January 2016. The average U.S. rig count for January 2017 was 683, up 49 from the 634 counted in December 2016, and [Read more]