XI Technologies has performed a quick analysis of potential LMR Security Deposit refunds and the results might surprise you. As most people in the oil and gas industry are aware, the Alberta Energy Regulator runs a Liability Management Rating (LMR) program. Under AER Directive 006, companies whose Licensee Liability Rating (LLR) – the ratio of deemed assets to deemed liabilities – is below 1.0 must submit an LMR Security Deposit. Over time, company positions and ownership can change and [Read more]
Headlines
Terry Etam’s Open Letter to the Law Foundation of British Columbia regarding selective group funding
Dear Law Foundation, In chasing down the funding trail for the recent demand by Whistler's mayor for Canadian Natural Resources to compensate the resort for climate change, I came across a pronounced pattern in funding that is a bit odd. Your stated mission is "To advance and promote a just society governed by the rule of law, through leadership, innovation and collaboration." You support many worthwhile programs, particularly for groups that may not otherwise have access to legal aid, advice, [Read more]
Corridor Provides Update on Its Operations in New Brunswick
HALIFAX, Nova Scotia, Dec. 19, 2018 (GLOBE NEWSWIRE) -- (TSX - CDH): Corridor Resources Inc. (“Corridor”) is pleased to provide an update on its operations in New Brunswick. Update on Pricing, Additional Financial Hedges, Production and Guidance 2018/2019 In our press release dated November 13, 2018, Corridor announced the following financial hedges for the winter of 2018/2019: 2,500 mmbtupd of natural gas production at a fixed price of $US12.72/mmbtu for January 2019 and 2,500 mmbtupd at a [Read more]
Questerre provides corporate update
CALGARY, Alberta, Dec. 19, 2018 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported on recent developments including the impact of a 325,000 barrel a day curtailment of oil production announced by the Government of Alberta. The curtailment does not apply to the Company’s condensate production in the province. Michael Binnion, President and Chief Executive Officer of Questerre, noted, ”We’re very pleased that the discount between condensate [Read more]
Pieridae Energy Limited: Private Placement
CALGARY, Alberta, Dec. 18, 2018 (GLOBE NEWSWIRE) -- Pieridae Energy Limited (“Pieridae”) (PEA - TSXV) is pleased to announce that it has completed a non-brokered private placement with The Western and Southern Life Insurance Company (“WSLI”) and Electron Capital LLC (“Electron”), for proceeds of $8.0 million (the “Private Placement”). Pieridae intends to use the proceeds of the Private Placement to refinance certain amounts at closing of the arrangement with Ikkuma Resources Corp. (the [Read more]
New Oil and Gas Jobs From BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Dec. 18 Maintenance Technician - Rotating Equipment AltaGas Gordondale Dec. 18 CLASS 1 DRIVER / FLUID HAULER - (GPF) Trican Well Service Ltd. Grande [Read more]
Jupiter Obtains Final Court Order Approving Recapitalization Transaction
CALGARY, Dec. 18, 2018 /CNW/ - Jupiter Resources Inc. and its affiliates (collectively, "Jupiter" or the "Company") announced today that, in connection with the previously announced proposed recapitalization transaction (the "Recapitalization Transaction"), the Company obtained a final court order from the Court of Queen's Bench of Alberta approving its plan of arrangement under the Canada Business Corporations Act (the "Plan of Arrangement") pursuant to which the Recapitalization Transaction is [Read more]
Hostile Husky takeover bid for MEG Energy now expected to succeed as proposed
CALGARY - A CIBC oil and gas analyst says the recent deterioration in crude oil prices makes it unlikely that a better offer will emerge to force Husky Energy Inc. to sweeten its hostile takeover bid for an oilsands rival. Husky reported Tuesday that it had received all necessary regulatory approvals for the takeover of MEG Energy Corp. and is now waiting for shareholders' response to its offer which expires in mid-January. Analyst Jon Morrison says in a research report that [Read more]
‘A start:’ Alberta critical of Ottawa’s $1.6B package for ailing energy sector
EDMONTON - Alberta Premier Rachel Notley says Ottawa's new $1.6-billion aid package for the oilpatch will help, but is essentially tone deaf and won't fix the pipeline bottleneck crippling the province. "We don't need help finding more markets. We need help moving our product, and I don't know that we could have been much more clear about that," Notley said Tuesday in Calgary. "Offering Alberta business owners and industry the opportunity to go further in debt is not any kind of [Read more]
Lacey: Is Anybody Listening? I Don’t Want Cake, I Want a Pipeline
Yesterday I had the pleasure of participating in a rally at Calgary City Hall in support of pipeline development and the energy sector. To state the obvious, 2018 has been a challenging year. After plumbing the depths of unsustainably low oil prices and then seeing a recovery, years of inaction in terms of pipeline approvals and development resulted in a wave of new production overwhelming the existing export capacity. As a result, differentials ballooned to unprecedented levels, cash flow [Read more]