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]
Headlines
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]
The whole world understands strategic energy supplies and acts accordingly – except for Canada
Have you ever had, say, $100,000 land in your lap? In the oil patch it’s not unheard of, or for lottery winners, and it’s a weird experience. There is an initial feeling of new found wealth (if you weren’t rich beforehand), followed by a desire to reward ones self with perhaps a new vehicle, a holiday, put a bit away for kids education…and then the realization that there would be nothing left. Have you ever been involved a successful exploratory well? There’s a feeling of euphoria, and [Read more]
GLJ Petroleum’s January 2017 Price Forecast
The last quarter in 2016 was a good one for energy prices. On September 30th, the February 2017 WTI and Henry Hub contracts settled at 49.49 USD/bbl and 3.30 USD/MMBtu, respectively. On December 30th, they settled at 53.72 USD/bbl and 3.72 USD/MMBtu. That’s 9% and 13% higher on the quarter, respectively, with gas prices boosted by this year’s winter weather. Looking back at the whole year, the WTI prompt month price is 45% higher than at the end of 2015 and the Henry Hub prompt price is up [Read more]
Groundstar Resources Limited Announces Final Closing of Flow-Through Financing
CALGARY, ALBERTA--(Marketwired - Jan. 3, 2017) - Groundstar Resources Limited (TSX VENTURE:GSA) (the "Company") is pleased to announce that on December 30, 2016 it closed the final tranche of its offering of common shares in the capital of the Company being issued on a "flow-through" basis within the meaning of the Income Tax Act (Canada) (the "Flow-Through Shares") at a price of $0.02 per Flow-Through Share by way of a non-brokered private placement (the "Closing"). The Company issued a total [Read more]
geoLOGIC systems ltd. Announces Purchase of Well Completions & Frac Database from Canadian Discovery Ltd.
CALGARY, December 23rd, 2016 – geoLOGIC systems ltd. (geoLOGIC) today announced that it has purchased Canadian Discovery Ltd.’s (CDL) Well Completions & Frac Database and related products, including its Direct Data Access add-on module and the Drilling Database. This acquisition includes the products and the team behind them, so clients using Canadian Discovery’s Well Completions & Frac Database will continue to receive the same high-quality data and service they have come to [Read more]
Over 1,400,000 users visited the BOE Report in 2016
Coming off the industry’s toughest year in a decade, people from across Canada and the United States once again for 2016 could not consume enough timely information on the state of the business. The BOE Report continued its leadership as the go-to site for oil and gas news, activity and information in 2016. By year-end, over 1,400,00 users visited BOEReport.com and viewed over 7.6 million pages. For 2015, annual user visitation totaled just over 600,000. The site’s traffic spiked in January [Read more]