HOUSTON, Sept. 30, 2016 /PRNewswire/ -- S&P Global Platts, the leading independent provider of information and benchmark prices for the commodities and energy markets, announced today the release of the Platts RigData U.S. Land Rig Three-Year Forecast. The annual Forecast, now in its 2nd year, is an analysis of the key drivers of domestic oil and gas supplies and what they imply for future trends over the next three years for land rig demand. As the report notes, oil prices will continue [Read more]
Headlines
B.C. says Petronas is not considering sale of proposed LNG terminal
VANCOUVER - The Malaysian state-owned oil firm Petronas denies a report that the company was considering selling its stake in a multibillion-dollar liquefied natural gas project in British Columbia. A statement from Petronas says it remains committed to working with its partners following a conditional approval from the federal government for the proposed Pacific NorthWest LNG project. A news report indicated the firm was pondering selling its stake, which the company says it [Read more]
Journey Energy Inc. announces the closing of the sale of 37.5% of its shares by its majority shareholder
CALGARY, Sept. 30, 2016 /CNW/ - Journey Energy Inc. (JOY – TSX) ("Journey" or the "Company") announces that the previously announced disposition of an aggregate of 16,355,798 common shares and restricted voting shares (collectively, the "Shares") in the capital of Journey by Infra-PSP Partners Inc. ("PSP") pursuant to a share purchase agreement dated September 15, 2016 has closed. Upon closing of the disposition the purchaser, Maple Investments Limited ("MIE"), will own 37.5% of the issued and [Read more]
6 free oil and gas apps that everyone should download
Although you may be inclined to only play Angry Birds or Pokémon GO on your mobile device, rest assured, there are useful and entertaining oil and gas apps in both the Apple and Android app stores. Below we have listed six free oil and gas apps with brief descriptions worth checking out: 1) BOE Report With the BOE Report mobile app, you can have all that the BOE Report has to offer at your fingertips. Whether you're on your daily commute, or chatting with a colleague over coffee, the [Read more]
OPEC Announces Tentative Output Agreement — Will It Stick? Scotiabank
TORONTO, ON--(Marketwired - September 30, 2016) - Scotiabank's Commodity Price Index fell 0.8% m/m as weakness in the oil & gas sub index overwhelmed minor gains in other core commodities. The oil market remains oversupplied by roughly one million bpd, global inventories remain at record levels, and producers appear to be slowly adapting to the new low-price reality through a combination of cost reductions and rising technical efficiencies. OPEC (Organization of Oil Exports Countries) [Read more]
Manitok Energy Inc. Announces a Significant Asset Acquisition and a $20.0 Million Offering of Units Consisting of Collateralized Exchange Listed Notes(TM) and Warrants
CALGARY, ALBERTA--(Marketwired - Sept. 29, 2016) - Manitok Energy Inc. (the "Corporation" or "Manitok") (TSX VENTURE:MEI) is pleased to announce that it has entered into an asset purchase agreement with an Alberta based private oil and gas company to acquire certain assets that averaged 1,934 boe/d 32% light oil and NGLs) of production in the second quarter of 2016, and that are anticipated to average approximately 1,750 boe/d (34% light oil and NGLs) in November 2016, upon the closing of the [Read more]
September 28 Alberta Land Sale Earns $4.42 million
Wednesday's Alberta land sale result came in at $4,42 million, practically unchanged from the $4.13 million earned from the previous sale September 14th. That would rank this result in the bottom third of the 17 sales held so far this year. There were a total of 75 parcels with successful bids for this sale and the cumulative total for all 2016 Alberta land sales now stands at $119.3 million. The chart below illustrates the trend of the Alberta land sale results for all of 2016 and also [Read more]
Ex-TransCanada CEO says Energy East setback a win for anti-development activists
BANFF, Alta. - Delays caused by the replacement of a panel reviewing the Energy East Pipeline project show that Canada's regulatory system is flawed and must be fixed, says a former CEO of proponent TransCanada. Hal Kvisle said Thursday the recusal of a National Energy Board panel in early September just after hearings on the controversial project began was a victory for activists whose only objective is to block the process. "I think it's another failure of (the) regulatory [Read more]
Enbridge Inc. Announces $1.075-Billion Sale of South Prairie Region Assets
CALGARY, ALBERTA--(Marketwired - Sept. 29, 2016) - Enbridge Inc. (TSX:ENB) (NYSE:ENB) (the "Company") together with Enbridge Income Fund Holdings Inc. (TSX:ENF) announced today that an affiliate of Enbridge Income Fund (the "Fund") has entered into an agreement for the sale of the Fund's liquids pipelines assets in the South Prairie Region (the "Assets") to Tundra Energy Marketing Limited ("TEML") for CAD$1.075 billion in cash. Closing of the transaction is expected to occur around the end of [Read more]
AltaGas North Pine Liquids Separation Facility Receives Permit From B.C. Oil and Gas Commission
CALGARY, ALBERTA--(Marketwired - Sept. 29, 2016) - AltaGas Ltd. ("AltaGas") (TSX:ALA) announced today that it has received the permit from the B.C. Oil and Gas Commission ("BCOGC") to construct, own and operate AltaGas' proposed North Pine Liquids Separation Facility (the "North Pine Facility"). To be located approximately 40 km northwest of Fort St. John, British Columbia, it is expected that the North Pine Facility will be connected to existing AltaGas infrastructure in the region, [Read more]