EDMONTON - Finance Minister Joe Ceci says Alberta is banking on anticipated revenue from an expansion of the Trans Mountain oil pipeline to balance the budget within five years. Ceci says revenue from the yet-to-be built expansion, along with expected revenue from a replacement Enbridge pipeline to Wisconsin, will be factored into forecasts in the budget he is to table on Thursday. He says it makes financial sense to include the pipelines now —given the expectation they will get [Read more]
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Iron Bridge Resources Reports Year-End Reserves and Fourth Quarter 2017 Financial Results and Provides Operations Update
CALGARY, Alberta, March 20, 2018 (GLOBE NEWSWIRE) -- Iron Bridge Resources Inc. (“Iron Bridge”, “IBR” or the “Company”) (TSX:IBR) today is pleased to report its year-end 2017 oil and gas reserves and fourth quarter 2017 financial results and provide an operations update. Year-End Reserves Information The following provides information on IBR’s crude oil, natural gas and NGLs reserves as of December 31, 2017, as evaluated by the Company’s independent qualified reserves evaluators, McDaniel [Read more]
Crude-by-rail price increases expected to put pressure on western producers
CALGARY - Discounts for western Canadian oilsands crude will remain high as railroads crank up their crude-by-rail rates in return for adding locomotives and crews to the transport constrained sector, according to an energy analyst's report published Tuesday. Barclays Capital analyst Paul Cheng said he is increasing by US$4.50 per barrel his forecast for the difference between Western Canadian Select oilsands blend and U.S. benchmark West Texas Intermediate from 2019 to 2022, when new [Read more]
FrontFour Releases Letter to Obsidian Shareholders
GREENWICH, Conn., March 20, 2018 /PRNewswire/ -- FrontFour Capital Group LLC together with its affiliates, a significant shareholder of Obsidian Energy Ltd. ("Obsidian" or the "Company") (TSX/NYSE: OBE), today issued an open letter to the Company's stockholders. The full text of the letter follows: March 20, 2018 Dear Fellow Shareholders, As previously disclosed, FrontFour Capital Group LLC (together with its affiliates, "FrontFour" or "we") and its principals are significant long-term [Read more]
Oilsands technology alliance aims for cuts in industry’s need for steam
CALGARY - An oilsands research alliance says it is entering its sixth year focused on finding new ways to reduce the sector's need for steam, the generation of which leads to almost 80 per cent of its greenhouse gas emissions. Dan Wicklum, CEO of Canada's Oil Sands Innovation Alliance or COSIA, says generating steam to separate heavy sticky bitumen from the northern Alberta sands in which it's trapped is responsible for about 56 million tonnes per year of the total of 71 million tonnes [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 Mar. 20 Operations Center Specialist Roska DBO Whitecourt Mar. 20 Well Reliability and Optimization (WRO) Lead Roska DBO Whitecourt Mar. 19 Snubbing [Read more]
Upper Shaunavon Farmin Opportunity – Knolly, Saskatchewan Area
Sayer Energy Advisors has been retained to assist Rolling Trails Resources Inc. (“Rolling Trails” or the “Company”) and its sole working interest partner (collectively the “Companies”) with the farmout of the Knolly, Saskatchewan property (the “Property”). The Knolly area is prospective for oil production from the Upper Shaunavon Formation. East of the Companies’ land, the Upper Shaunavon has been producing oil for many decades from the Rapdan, Eastbrook, Eastend, Dollard, Leon Lake, [Read more]
Granite Oil Corp. Initiates a Process to Review Strategic Alternatives
CALGARY, Alberta, March 20, 2018 (GLOBE NEWSWIRE) -- GRANITE OIL CORP. (“Granite” or the “Company”) (TSX:GXO) (OTCQX:GXOCF) announces that its Board of Directors (the “Board”) has initiated a formal process to review potential strategic alternatives available to the Company (the “Process”) in an effort to enhance shareholder value. On March 7, 2018, Granite announced 2017 reserves, highlighted by Proved Developed Producing (“PDP”) reserves replacement which resulted in Company-record and [Read more]
Prairie Provident Announces Princess and Wheatland (Wayne) Drilling and Operations Update
CALGARY, Alberta, March 20, 2018 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. ("Prairie Provident", "PPR" or the "Company") (TSX:PPR) is pleased to provide an operational update on successful drilling and completion results realized to date in 2018 from wells in its Princess and Wheatland (Wayne) core focus areas. Princess Update Prairie Provident is pleased to announce the drilling, completion and testing of two 100% working interest (“WI”) wells in the Princess area of Southern [Read more]
Hemisphere Energy increases Proved plus Probable reserve value by 77% to $116.6 million (discounted at 10%), and net asset value by 68% to $1.12 per share
TSX-V: HME - VANCOUVER, March 20, 2018 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") is pleased to announce highlights from its independent reserves evaluation effective as at December 31, 2017 prepared by McDaniel & Associates Consultants Ltd. ("McDaniel"). In September 2017, Hemisphere entered into a five-year term loan with a borrowing base of up to US$35.0 million. This has allowed Hemisphere to actively move forward with development of its Atlee [Read more]