Some smart guy once said that Russia is a riddle wrapped in a mystery inside an enigma. In comparison, Saudi Arabia is almost as puzzling though in a more material way, like a devout sun-baked crank wrapped in a fur coat in a gold Ferrari. Not dumb by any means, but playing poker with the world's industries and a very big war chest. For decades, we’ve watched the country float along on a vast sea of petro-wealth, notable mostly for its hyper-religious society and somewhat incongruous displays of [Read more]
Headlines
Living in the post-truth world, energy style
Post-truth nonsense about fossil fuels paints a dangerous, damaging and distorted picture of Canada's energy use and production VICTORIA, B.C./ Troy Media/ – One of the unfortunate legacies of 2016 is the frequency of ‘post-truth’ communications. The term describes communications where objective facts are replaced by erroneous assertions aimed at creating emotion-based beliefs. Post-truth communications reached a peak during the American presidential campaign. But Canadians have also [Read more]
Only 28% of Albertans agree with the NDP on climate science
Recently, there have been many vocal members from Alberta's NDP who have called for Wildrose party's Electricity and Renewables critic, Don MacIntyre, to be sacked for doubting human's effect on climate change. The NDP firmly believe that the science behind climate change is settled, and it is solely human-caused. Unfortunately for the NDP, their stubborn position places them at odds with the overwhelming majority of Albertans. According to a survey conducted by Yale University in February of [Read more]
Point Loma Resources Announces Tie-in of New Well and an Operational Update
CALGARY, AB--(Marketwired - January 09, 2017) - Point Loma Resources Ltd. (TSX VENTURE: PLX) (the "Corporation" or "Point Loma") is pleased to provide the following operational update; Highlights: Tie-in of 5-31-55-6W5M Nordegg new pool discovery well is complete and production commenced on December 22, 2016. Point Loma achieved an average production rate of 570 boe/d during the period of December 24-31, 2016. The composition of the production was 58 percent oil and NGLs. Two [Read more]
Baker Hughes Announces December 2016 Rig Counts
HOUSTON--(BUSINESS WIRE)--Baker Hughes Incorporated (NYSE:BHI) announced today that the international rig count for December 2016 was 929, up 4 from the 925 counted in November 2016, and down 166 from the 1,095 counted in December 2015. The international offshore rig count for December 2016 was 210, down 1 from the 211 counted in November 2016, and down 40 from the 250 counted in December 2015. The average U.S. rig count for December 2016 was [Read more]
Seven Generations provides 2016 operational update
CALGARY, ALBERTA--(Marketwired - Jan. 6, 2017) - Seven Generations Energy Ltd. (TSX:VII) invested less than $1 billion in its 2016 capital program, compared to the company's forecast of $1.05 to $1.1 billion. This reduced capital investment resulted in lower than forecast fourth quarter production, which is now expected to result in 2016 average production of about 117,500 barrels of oil equivalent per day (boe/d), compared to 2016 production guidance of 120,000 to 125,000 boe/d. Corporate [Read more]
Pengrowth Announces Closing of Royalty Sale on Its Lindbergh Thermal Assets
CALGARY, ALBERTA--(Marketwired - Jan. 6, 2017) - Pengrowth Energy Corporation (TSX:PGF)(NYSE:PGH) announces that it has closed its previously announced sale of a non-convertible 4.0% gross overriding royalty interest on its Lindbergh thermal assets and an interest in certain proprietary seismic for $250 million of aggregate cash proceeds. The cash proceeds from the transaction help to further strengthen the Company's balance sheet. Pengrowth has been working on enhancing its financial [Read more]
PrairieSky Closes Royalty Acquisition and Bought Deal Equity Financing
CALGARY, ALBERTA--(Marketwired - Jan. 6, 2017) - PrairieSky Royalty Ltd. ("PrairieSky" or the "Company") (TSX:PSK) is pleased to announce it has completed its previously announced acquisition of a 4% Gross Overriding Royalty on current and future phases of Pengrowth Energy Corporation's Lindbergh SAGD thermal oil project, as well as seismic over certain lands in British Columbia and Alberta, for total cash consideration of $250 million. The Company also completed the previously announced [Read more]
Zargon Oil & Gas Ltd. Announces Proposal to Amend Its Convertible Unsecured Subordinated Debentures
CALGARY, ALBERTA--(Marketwired - Jan. 6, 2017) - Zargon Oil & Gas Ltd. (the "Company" or "Zargon") (TSX:ZAR)(TSX:ZAR.DB) announced today that it will seek the approval of holders (the "Debentureholders") of its 6.00% convertible unsecured subordinated debentures due June 30, 2017 (the "Debentures") to amend certain terms of the Debentures at a meeting of Debentureholders expected to be held in February of 2017 (the "Meeting"). Debenture Amendments: The proposed amendments (the [Read more]
Pine Cliff Energy Ltd. Announces Resignation of CFO and Appointment of New CFO
CALGARY, ALBERTA--(Marketwired - Jan. 5, 2017) - Pine Cliff Energy Ltd. ("Pine Cliff" or the "Company") (TSX:PNE) announces the resignation of Kristi Kunec, Chief Financial Officer and Corporate Secretary, effective January 16, 2017. The Company would like to thank Ms. Kunec for her leadership and contributions during her tenure and wish her all the best in the future. Effective January 16, 2017, Pine Cliff's Board of Directors have appointed Cheryne Lowe as Chief Financial Officer and [Read more]