CALGARY, Alberta, Feb. 21, 2019 (GLOBE NEWSWIRE) -- Kelt Exploration Ltd. (TSX:KEL) (“Kelt” or the “Company”) is pleased to report on its oil & gas reserves and production for the year ended December 31, 2018. [Kelt's audit of its 2018 annual consolidated financial statements has not been completed and accordingly all financial amounts relating to 2018 referred to in this press release are unaudited and represent management's estimates. Readers are advised that these financial estimates [Read more]
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Tourmaline adds 338 mmboe of reserves in 2018, 2P reserves increased to 2.46 billion boe
CALGARY, Feb. 20, 2019 /CNW/ - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is pleased to report very strong total reserve growth, liquids reserve growth and a continued reserve value increase in the current depressed natural gas price environment. The Company executed on the 2017-2018 plan to concentrate almost entirely on internal EP growth and has produced the best reserve metrics in the Company's 10 year history over the past two years. RESERVE HIGHLIGHTS Proved [Read more]
Shrunken protest convoy leaves Ottawa after second day, enjoying Tory support
OTTAWA - A diminished version of the United We Roll convoy left Ottawa Wednesday afternoon, words of support from one more Conservative MP trailing behind. "Listen, we stand together united as a country," Lethbridge MP Rachael Harder told the crowd. "This is about developing an energy industry that keeps us alive and gives us a place on the world stage." It was also about other things. Members of the convoy, which left Red Deer, Alta., on Feb. 14, expressed a wide variety of demands. [Read more]
Attempted theft at oilfield site ends in leak of crude oil effluent: RCMP
VERMILION, Alta. - RCMP say an attempted theft at an oilfield site in east-central Alberta resulted in a leak of crude oil effluent. Mounties say someone trying to steal copper wire at the site near Vermilion on Friday night caused extensive damage to the electrical wiring which in turn allowed the effluent to be released. They say the spill was contained on the site and is being cleaned up. Damages are estimated at between $250,000 and $300,000. Witnesses in the area report seeing [Read more]
CEOS for Royal Bank, Enbridge, call for better balance in energy policies
TORONTO - The CEOs of Canada's largest bank and its largest pipeline company say the country needs an energy strategy that will better balance environmental and Indigenous goals with the need to develop its abundant oil and gas resources. But Royal Bank CEO Dave McKay and Al Monaco, CEO of Calgary-based Enbridge Inc., had little in the way of specific advice for government during a Canadian Club event in Toronto. Over a 45-minute discussion, the two agreed the world has a growing thirst [Read more]
Alberta Opposition Leader Jason Kenney says he would shelve oil-by-rail deal
EDMONTON - Alberta Opposition Leader Jason Kenney says if he wins the spring election, his government will do everything it can to cancel a $3.7-billion deal to ship more oil by rail. Kenney is urging Canadian National Railway and Canadian Pacific Railway not to invest too much in the agreement given that it could be shelved. Premier Rachel Notley announced on Tuesday that the province plans to lease 4,400 rail cars to get more oil to foreign markets while the government works to increase [Read more]
Buffett’s Suncor bet to revive investor interest in Canadian energy
Berkshire Hathaway Inc's re-investment in Suncor Energy Inc highlights the benefits of being an integrated oil company and could revive investor interest in the languishing Canadian energy sector, fund managers said. The move is also seen by some as a wager the energy sector could benefit from a change in the guard in Canada's oil-rich Alberta province, which has an election this year. Berkshire's new 0.7 percent stake in Suncor, valued at $488 million at current prices, is already worth [Read more]
Crude-by-rail shipments set new record in December despite lower price discounts
CALGARY - The National Energy Board says crude-by-rail exports from Canada reached a record high in December. Canada exported nearly 354,000 barrels per day of oil, up seven per cent from November's total of 330,400 bpd and the 152,000 bpd moved in December 2017. On Tuesday, Alberta Premier Rachel Notley announced the province will invest $3.7 billion to move up to 120,000 barrels of oil per day by rail by 2020 under deals with Canada's two major railways. Initial daily shipments of [Read more]
U.S.-based Devon Energy says it intends to exit Canadian oilsands sector
CALGARY - Another foreign oil company says it's getting out of the Canadian oilsands. Oklahoma City-based Devon Energy Corp. says it will pursue the "separation" of its Canadian assets from its core business, a move that could include an outright sale or creation of a new company to own and operate them. Devon owns the Jackfish steam-driven oilsands complex, with a capacity of 105,000 barrels per day of bitumen, as well as conventional heavy oil wells near Lloydminster, Alta., [Read more]
Pieridae Energy Limited Announces Fully-Subscribed Brokered Private Placement
CALGARY, Alberta, Feb. 20, 2019 (GLOBE NEWSWIRE) -- Pieridae Energy Limited (“Pieridae” or the “Company”) (TSXV: PEA) is pleased to announce that it has been advised by the syndicate of investment dealers co-led by KES 7 Capital Inc. and National Bank Financial Inc. and including Laurentian Bank Securities Inc. (collectively, the “Agents”) that the previously announced brokered private placement of up to 7,500,000 common shares at a price of $2.00 per share (the “Offering Price”) for gross [Read more]