CALGARY - Enerplus Corporation ("Enerplus" or the "Company") (TSX & NYSE: ERF) today announced its 2020 exploration and development capital budget of $520 to $570 million and outlook through 2022. "We remain focused on creating value for shareholders through a combination of sustainable, high return production per share growth, free cash flow generation and low financial leverage," stated Ian C. Dundas, President and Chief Executive Officer. "As we further prioritize our ability to [Read more]
Headlines
Crescent Point Closes Sale of Gas Infrastructure Assets
CALGARY, Jan. 20, 2020 /CNW/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is pleased to announce that it has successfully closed the previously announced sale of certain associated gas infrastructure assets (the "Assets") in Saskatchewan for total cash consideration of $500 million. The Assets sold as part of this transaction include nine natural gas gathering and processing facilities and two gas sales pipelines with total throughput capacity of more [Read more]
Locked-out workers block entrances to Canada’s Co-op Refinery
Locked-out workers at the Co-op Refinery in Regina, Saskatchewan blockaded the facility on Monday, halting the movement of workers and trucks, the union and owner said. Federated Cooperatives Ltd (FCL), which owns and operates the refinery, locked out 800 workers on Dec. 5 in a dispute over pensions, but has kept western Canada's third-largest oil refinery operating with replacement workers and managers. Unifor, which represents the workers, said that hundreds of union activists had [Read more]
Oil rises as Libyan oilfields shut down
Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, risking reducing crude flows from the OPEC member to a trickle. The West Texas Intermediate contract was up 27 cents, or 0.5%, at $58.81 a barrel, after rising to $59.73, the highest since Jan. 10. Brent crude was up 41 cents, or 0.6%, at $65.26 by 1116 GMT, having earlier touched $66 a barrel, the highest since Jan. 9. Two major [Read more]
Pipestone Energy Corp. Announces Unplanned Outage at the Keyera Wapiti Gas Plant
CALGARY, Alberta, Jan. 20, 2020 (GLOBE NEWSWIRE) -- (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) was notified by Keyera Corp. (“Keyera”) on January 17, 2020 of an electrical failure within the Keyera Wapiti Gas Plant (“Keyera Plant”). This failure has resulted in an unplanned outage. Keyera expects it to be repaired and resume operations of the Keyera Plant within approximately two weeks. Based on the expected outage duration, the Company is reaffirming its 2020 [Read more]
Calls for dialogue as pipeline polarizes some in northern British Columbia
HOUSTON, B.C. - A natural gas pipeline project has polarized many communities across northern British Columbia in a dispute a Wet'suwet'en elder says he hopes will be resolved through dialogue. Russell Tiljoe, 83, has long-established ties with the First Nation whose hereditary clan chiefs say the Coastal GasLink project has no authority to run through its 22,000 square kilometres of traditional territory without their consent. His own late father was one of the clan chiefs, but Tiljoe is [Read more]
Granite Oil Corp. Announces 2019 Year End Reserve Metrics
CALGARY - GRANITE OIL CORP. (“Granite” or the “Company”) (TSX:GXO)(OTCQX:GXOCF) is pleased to present the summary results of the independent reserves report (the “Sproule Report”) prepared by Sproule Associates Limited (“Sproule”) with an effective date of December 31, 2019. In 2019, Granite invested approximately $6.4 million of capital expenditures (unaudited) into its 100%-owned Bakken oil property, representing approximately 45% of its Corporate funds from operations (unaudited), and [Read more]
International Petroleum Corp. Announces Acquisition of Light Oil Assets in Southern Alberta
International Petroleum Corp. (“IPC”) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that it has entered into an agreement to acquire Granite Oil Corp. (“Granite”) (TSX: GXO) for total equity and debt consideration of approximately USD 59 million (CAD 77.2 million) (the “Acquisition”). The Acquisition includes total proved plus probable ("2P") reserves of 14.0 million barrels of oil equivalent (MMboe) and 6.2 MMboe of unrisked contingent resources (best estimate) as at December 31, 2019. [Read more]
Alberta court approves Encana reorganization, paving way for change next week
CALGARY - Encana Corp. says an Alberta court has approved the oil and gas company's reorganization that will see it move its headquarters to Denver from Calgary and change its name to Ovintiv Inc. The decision by the Court of Queen's Bench of Alberta follows Tuesday's vote that saw 90 per cent of shareholders approve the change, despite public criticism from Encana founder Gwyn Morgan and shareholder Letko, Brosseau & Associates Inc. Encana announced the changes in October as part of a [Read more]
Canada weekly rig count jumps up 41 to 244
Canada’s fleet of active drilling rigs grew from 203 to 244 since last week according to data from Baker Hughes. Total drilling count was 244 at January 17. 152 rigs were drilling for oil; 92 for natural gas. The drilling activity in Alberta rose from 133 to 177 since last week. Saskatchewan’s drilling grew from 50 to 52 rigs. View a full breakdown of Western Canada’s rig activity. [Read more]