CALGARY, AB--(Marketwired - January 04, 2017) - Kelt Exploration Ltd. ("Kelt" or the "Company") (TSX: KEL) has entered into a definitive purchase and sale agreement to dispose of oil and gas assets in the Karr area of Alberta. The effective adjustment date of the disposition is January 1, 2017 and closing is expected to occur on or about January 18, 2017. The gross proceeds payable to Kelt, prior to adjustments at closing, will be $100.0 million. The purchaser has provided Kelt with a deposit in [Read more]
Headlines
Oil Prices Expected to Grow Slightly in 2017: Deloitte
CALGARY, Jan. 4, 2017 /CNW/ - Production cuts by members of the Organization of the Petroleum Exporting Countries (OPEC) and other non-OPEC countries are expected to provide a short-term boost to world oil prices, but the effects will be offset to some extent by increases in production in Canada and the United States. The latest price forecast by Deloitte's Resource Evaluation and Advisory (REA) group also predicts some weakening of natural gas prices after recent rises caused by the onset of [Read more]
Encana expects 2017 plan to exceed forecasts shared at its Investor Day
CALGARY, AB--(Marketwired - January 04, 2017) - (TSX: ECA) (NYSE: ECA) Encana delivered strong performance in the fourth quarter of 2016, and the company now expects that its 2017 plan will exceed forecasts previously shared at its Investor Day in October 2016. The company plans to finalize its 2017 budget and issue guidance along with its 2016 fourth quarter and year-end results on February 16, 2017. Encana now expects to deliver a corporate margin of greater than $10 per barrel of oil [Read more]
RMP Energy Announces New Addition to Board of Directors
CALGARY, ALBERTA--(Marketwired - Jan. 4, 2017) - RMP Energy Inc. ("RMP" or the "Company") (TSX:RMP) is pleased to announce the immediate appointment of Mr. Josh Young as an independent director of the Company. Mr. Young's appointment expands RMP's Board of Directors to eight directors, seven of which are independent directors. Mr. Young is the portfolio manager for Houston, Texas-based Bison Interests LLC ("Bison"), an investment firm specializing in oil and gas investments managing over $65mm. [Read more]
Chinook Energy Provides Operational and Corporate Update
CALGARY, ALBERTA--(Marketwired - Jan. 4, 2017) - Chinook Energy Inc. (TSX:CKE) ("Chinook" or the "Company") is pleased to provide the following operational and corporate update. Drilling Update Chinook has successfully completed its three well (2.62 net) drilling program at Birley/Umbach, announced on November 9, 2016. The drilling of these wells was completed on schedule and under budget by approximately 26% with average drilling costs of approximately $1.28 million per well ($1.12 [Read more]
ExxonMobil, Tillerson Reach Agreement to Comply with Conflict of Interest Requirements
IRVING, Texas--(BUSINESS WIRE)--The board of directors of Exxon Mobil Corporation (NYSE:XOM) has reached an agreement with Rex W. Tillerson, former chairman and chief executive officer, to sever all ties with the company to comply with conflict-of-interest requirements associated with his nomination as secretary of state. Under the agreement developed in consultation with federal ethics regulators, if Tillerson is confirmed as secretary of state, the value of more than 2 million deferred [Read more]
AltaGas formally commits to building B.C.’s first propane export terminal
CALGARY - AltaGas Ltd. says it has committed to building what it expects to be the first propane export terminal on Canada's west coast after receiving approval from federal regulators. The Calgary-based company (TSX:ALA) said Tuesday it plans to soon start construction on the roughly $475-million Ridley Export Terminal near Prince Rupert, B.C., with the goal of exporting propane by early 2019. The project is expected to create 200 to 250 construction jobs and about 40 to 50 [Read more]
Enerplus Closes Sale of Non-Operated North Dakota Assets
CALGARY, Jan. 3, 2017 /CNW/ - Enerplus Corporation (TSX & NYSE: ERF) announces that its wholly-owned subsidiary, Enerplus Resources (USA) Corporation, has closed the previously announced sale of its non-operated assets in North Dakota for total cash consideration of US$292 million (approximately C$390 million), subject to tax and customary post-closing adjustments. About Enerplus Enerplus Corporation is a responsible developer of high quality crude oil and natural gas assets in Canada [Read more]
Wildrose nixes NDP call to sack electricity critic over climate change skepticism
EDMONTON - Alberta's NDP says the Opposition Wildrose party needs to sack one of its critics for refusing to acknowledge the reality of climate change. NDP caucus member Shaye Anderson said Tuesday that the Wildrose's Don MacIntyre has made similar comments in the past, and his denials undermine his effectiveness as critic for electricity and renewables. "Time and time again, Mr. MacIntyre has made comments that are drawn from climate change-denying conspiracy theorists,” said [Read more]
Property Divestiture: C Group Energy Inc. – Niton/McLeod Area
Sayer Energy Advisors has been engaged to assist C Group Energy Inc. (“C Group” or the “Company”) with the divestiture of its oil and natural gas property located in the Niton/McLeod area of Alberta (the “Property”). Recent production (three months ended October 31, 2016) net to C Group from the Property has averaged 195 boe/d, consisting of 88 barrels of oil and natural gas liquids per day and 645 Mcf/d of natural gas sales. C Group holds working interests ranging from 45-100%, mainly [Read more]