DUBAI, United Arab Emirates — OPEC member states and other major oil producers plan to meet next month to discuss a freeze in oil output levels, Qatar’s top energy official said Wednesday. The gathering, which will build on earlier talks that included major suppliers Russia and Saudi Arabia, reflects a growing sense of urgency among producers to try to shore up crude prices following a steep drop that is straining their domestic budgets. Qatar holds the rotating presidency of OPEC and will [Read more]
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Saskatchewan premier wants $570M from Ottawa in federal budget
REGINA - Saskatchewan has put money into a federal program to help other provinces and now it's time to get some payback, says Premier Brad Wall.Wall says he'd like Saskatchewan to get at least $570 million in new funding in next week's federal budget. That's the amount the province will pay into equalization this year.Equalization transfers funds from "have" to "have-not" provinces so that poorer jurisdictions can offer government services at levels similar to elsewhere.Wall says it doesn't [Read more]
Liard Basin one of the largest shale gas resources in the world, new assessment shows
CALGARY, March 16, 2016 /CNW Telbec/ - The National Energy Board (NEB), the British Columbia Oil and Gas Commission, the Yukon Geological Survey, the Northwest Territories Geological Survey and the British Columbia Ministry of Natural Gas Development today released the first detailed study estimating the marketable unconventional natural gas resources in the Liard Basin. As changes in technology continue to enable industry to unlock new unconventional gas resources, a collaborative resource [Read more]
Three practical ways for producers to reduce methane emissions in Alberta
Prime Minister Justin Trudeau and President Barack Obama issued a joint statement on 10 March 2016 that included a commitment to reduce greenhouse gases by: Reducing methane emissions by 40-45 percent below 2012 levels by 2025 from the oil and gas sector. Exploring new opportunities for additional methane reductions. As illustrated in the below graph of the top 10 methane emitting countries, the United States ranks 2nd and Canada ranks 4th in methane emission volumes produced by each [Read more]
Spartan Energy Corp. Announces Exercise of Over-Allotment Option and Completion of $96.3 Million Equity Financing
CALGARY, ALBERTA--(Marketwired - March 16, 2016) - Spartan Energy Corp. (TSX:SPE) is pleased to announce that it has closed its previously announced bought-deal financing of 39,938,375 common shares ("Common Shares"), which includes the exercise in full of the over-allotment option of 4,668,375 Common Shares, at a price of $2.41 per Common Share for aggregate gross proceeds of approximately $96.3 million. The syndicate of underwriters was led by Peters & Co. Limited and included GMP [Read more]
Oil and gas quarterly financial results highlight need to improve operational excellence
Oil producers must build long-term sustainability CALGARY, March 16 2016 /CNW/ - Cost cutting continues in Canada's oil and gas sector, and companies across the board are trying to do more with less to help drive down the cost per barrel and remain competitive. According to a new EY report, there are a number of innovative ways companies can get value out of the oil they are producing. "Quarterly financial results are highlighting the massive pressure the industry is under," says Lance [Read more]
Canbriam Energy Achieves 30,000 boe/d from its Altares Montney Asset and Provides Operational Update
CALGARY, March 16, 2016 /CNW/ - Canbriam Energy Inc. ("Canbriam" or the "Company") provides an operational update on the commercial development of its liquids rich over-pressured Altares Montney asset, located west of Fort St. John, BC, highlighted by the addition of natural gas processing and water handling infrastructure that has supported production growth that reached 30,000 boe/d in early 2016. Canbriam is maintaining a reduced pace of development for 2016, which reflects a disciplined [Read more]
Cardinal Energy Ltd. Announces Reserves and Fourth Quarter and 2015 Year-End Results
CALGARY, ALBERTA--(Marketwired - March 16, 2016) - Editors Note: There is a photo associated with this press release. Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX:CJ) is pleased to announce its operating and financial results for the quarter and year ended December 31, 2015 as well as its 2015 year end reserves. 2015 Financial and Operating Highlights During the fourth quarter of 2015 Cardinal completed an acquisition in the Slave Lake area of Alberta (the "Mitsue [Read more]
Bellatrix Announces 2015 Year End Reserves
TSX, NYSE: BXE CALGARY, March 16, 2016 /PRNewswire/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NYSE: BXE) is pleased to announce its 2015 year-end reserves information. Reserves at December 31, 2015 were independently evaluated by Sproule Associates Limited ("Sproule"). The evaluation encompasses 100% of Bellatrix's oil and gas properties and was prepared in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101"). 2015 [Read more]
Bellatrix Exploration Ltd. Announces Fourth Quarter and Year End 2015 Financial Results
TSX, NYSE: BXE CALGARY, March 16, 2016 /PRNewswire/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX, NSE: BXE) announces its financial and operating results for the fourth quarter and year ended December 31, 2015. This press release contains forward-looking statements. Please refer to our cautionary language on forward-looking statements and the other matters set forth at the end of this press release and the beginning of the Management's Discussion and Analysis (the [Read more]