Richelhoff Resources Inc. (“Richelhoff” or the “Company”) has engaged the services of Sayer Energy Advisors to assist it with the sale of its 100% working interest heavy oil property in the Salvador area of Saskatchewan (the “Property”). Richelhoff is selling the Property in order to focus its efforts on its core properties in other areas. Richelhoff’s vertical Mannville (Sparky and Waseca Formation) heavy oil wells currently produce approximately 30-40 barrels of 13o API (980 kg/m3) [Read more]
Headlines
Teck pulls application for C$20.6 bln Frontier project, to take writedown
Teck Resources Ltd has withdrawn the application for its C$20.6 billion ($15.7 billion) Frontier oil sands mine in Alberta, the company said on Sunday, days before the federal government was to decide on whether to approve the controversial project. Teck said it would write down the C$1.13 billion carrying value of the project. The news was first reported by the Globe and Mail newspaper. The company released a letter by Teck Chief Executive Don Lindsay to Canada's environment minister, [Read more]
Canadian police move in to clear indigenous blockade of Ontario rail line
Police moved in on Monday morning to clear a rail blockade by an indigenous group in eastern Canada that had been stopping freight and passenger traffic for more than two weeks on one of the country's busiest lines. Canadian National Railway Co obtained an injunction against those preventing rail traffic from moving along its trunk line near Belleville, Ontario, on Feb. 7, but provincial police had taken a cautious approach until now. Dozens of Ontario Provincial Police (OPP) descended on [Read more]
Chinook Energy Inc. Announces Plan of Arrangement
Calgary, Alberta - Chinook Energy Inc. (TSX: CKE) ("Chinook" or the "Company") is pleased to announce today that it has entered into a definitive arrangement agreement (the "Arrangement Agreement") pursuant to which Tourmaline Oil Corp. (TSX: TOU) (the "Purchaser") has agreed to acquire all of the outstanding common shares of Chinook ("Chinook Shares") for cash consideration of $0.0675 per share (the "Share Consideration"). The Share Consideration represents a 33% premium over the twenty day [Read more]
Tourmaline Announces NEBC Montney Consolidation Activities
CALGARY - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is pleased to announce a series of transactions in the NEBC Montney gas/condensate complex. The Company has entered into a definitive agreement to acquire a public oil and gas producer, has also acquired a private oil and gas company and has completed a small complementary asset transaction at Gundy. The two corporate transactions add approximately 6,000 boepd of current production, 2P reserves of 116.3 mmboe(1), and [Read more]
Request for Offers to Purchase Assets of Dalmac Oilfield Services Inc.
Dalmac Energy Inc., Dalmac Oilfield Services Inc. and Professional Consulting Services Ltd. (collectively “Dalmac Group” or the “Companies”) carried on business in well stimulation and fluid management services which included fluid transfers, hot oiling, vac units, frack heating, well acidizing, tank rentals and equipment primarily serving the oil and gas industry in Western Canada. The Bowra Group Inc., in its capacity as Receiver (the “Receiver”) of the Companies, is offering for sale the [Read more]
PetroFrontier Corp. Announces Private Placement, Provides Proposed Funding Update and Early Warning Report
Calgary, Alberta - PetroFrontier Corp. (TSXV: PFC) ("PetroFrontier" or the "Company") is pleased to announce the following: Private Placement PetroFrontier has completed a non-brokered private placement for aggregate gross proceeds of $1,500,000 (the "Private Placement") whereby the Company issued an aggregate of 28,571,429 common shares ("Common Shares") from its treasury at a price of $0.0525 per Common Share. Proceeds from the Private Placement will be used to fund development and [Read more]
Alberta and two First Nations make deal for proposed oilsands mine
EDMONTON - The Alberta government has struck deals with two northern Alberta First Nations over a proposed open-pit oilsands mine that's awaiting Ottawa's approval. The Mikisew Cree and Athabasca Chipewyan First Nations had previously reached deals with Teck Resources Ltd. for the Frontier mine, but were still negotiating with the province over environmental and cultural concerns. Earlier this month, Alberta's Indigenous relations minister expressed concern that a public spat over the [Read more]
Canada weekly rig count down 11 to 244
Canada’s fleet of active drilling rigs shrank from 255 to 244 since last week according to data from Baker Hughes. Total drilling count was 244 at February 21. 169 rigs were drilling for oil; 75 for natural gas. The drilling activity in Alberta decreased from 160 to 152 since last week. Saskatchewan’s drilling fell from 72 to 70 rigs. View a full breakdown of Western Canada’s rig activity. [Read more]
U.S. oil rig count rises for third week in a row -Baker Hughes
The U.S. oil rig count rose for a third week in a row even though growth in the country's largest shale formation slows as producers cut spending on new drilling for a second consecutive year. Companies added one oil rig in the week to Feb. 21, bringing the total count to 679, their highest since the week of Dec. 20, energy services firm Baker Hughes Co said in its closely followed report on Friday. In the same week a year ago, there were 853 active rigs. U.S. crude futures traded [Read more]