Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSXV: SOIL) (FSE: SMK) is pleased to confirm that it has commenced a four well drilling program for the fourth quarter of 2019, along with the issuance of stock options. Q4 2019 Drilling Program The Company is pleased to confirm the commencement of its fourth quarter 2019 drilling program, which will include the drilling, completion, equip and tie-in of four (4.0 net) new extended-reach horizontal (“ERH”) Viking light oil wells in the [Read more]
Headlines
Alberta tables climate plan for industry; retains key parts of old legislation
Alberta has introduced a new climate plan for the province's big greenhouse gas emitters that it says will achieve similar emissions cuts as the former NDP government's plan and at less cost. "Our projections are that we're looking at getting similar results for less price for industry," said Jason Nixon, environment minister for the United Conservative government. It does not affect the federal consumer carbon tax, which will still go ahead on Jan. 1 and still faces court [Read more]
Column: Plastics producers in danger of becoming household names for all the wrong reasons
By John Richardson, Senior Consultant Asia, ICIS The plastics or polymers industry was for many years a hidden industry. For most of its history, nobody has known much about the plastics business because it is sandwiched between oil and gas and a huge variety of finished goods. The meat cannot be seen because of the high visibility of the bread around the sandwich. But now, for all the wrong reasons, companies which produce the polymers that go into everything from plastic bottles and [Read more]
U.S. natgas futures surge over 6% for second day on cold November forecasts
U.S. natural gas futures surged over 6% for a second day in a row on Tuesday to their highest level in five weeks on forecasts the cold weather blanketing much of the country will remain through at least mid-November. Traders noted if the current cold forecasts hold, utilities will start pulling gas out of storage during the week ended Nov. 8, a week before the five-year average. On their last day as the front-month, gas futures for November delivery on the New York Mercantile Exchange [Read more]
Sojourn Energy Inc.: Saskatchewan Heavy Oil Property Divestiture
Sayer Energy Advisors has been engaged to assist Sojourn Energy Inc. (“Sojourn” or the “Company”) with the sale of its non-core properties in the Plover Lake, Furness and Dulwich areas of southwestern Saskatchewan (the “Properties”). Sojourn is considering the sale of these Properties in order to allow the Company to focus on accelerating growth in its core areas. Total production from the Properties throughout the summer has averaged approximately 251 barrels of oil per day. Each property [Read more]
Oil prices edge lower ahead of U.S. stockpile numbers
Oil prices slipped on Tuesday as investors awaited U.S. crude inventory data for a pointer on oil demand trends, while concerns about slower economic growth overshadowed signs of a thawing in the trade war between Washington and Beijing. U.S. West Texas Intermediate (WTI) crude was down 80 cents at $54.92, after falling 1.5% in the previous session. Brent futures were down 54 cents at $61.02 a barrel, having fallen 0.7% on Monday. Prices rose sharply last week amid a decline in U.S. [Read more]
PrairieSky Announces 2019 Third Quarter Results
PrairieSky Royalty Ltd. ("PrairieSky" or the "Company") (TSX: PSK) is pleased to announce its third quarter ("Q3 2019") operating and financial results for the period ended September 30, 2019. PRESIDENT’S MESSAGE Third Quarter 2019 Highlights: Funds from Operations totaled $48.8 million ($0.21 per common share basic and diluted). Revenues totaled $58.8 million, comprised of royalty production revenues of $51.9 million and other revenues of $6.9 million for the third quarter. [Read more]
Oil holds steady as Russia reaffirms commitment to output cuts
Oil prices were steady on Monday, holding on to strong gains last week, after Russia affirmed its commitment to a deal with OPEC producers to keep production in check and support prices. West Texas Intermediate (WTI) crude futures were up 6 cents at $56.68 a barrel, having risen more than 5% last week, also the biggest weekly increase since Sept. 20. Brent crude was up 22 cents at $62.18 a barrel by 0055 GMT, having logged a weekly gain of more than 4% last week, its best weekly gain since [Read more]
Light Oil – Peejay, BC
To attain a royalty-only business model, 1445640 Alberta Ltd. is seeking to divest of its remaining working interest property, located in an extension of the large Peejay Halfway pool in NE B.C. The company holds a 23.834% non-operated working interest in a Halfway oil producer located at c-100-H/94-A-15, with bottom hole located at 02/d-91-G/94-A-15/00. Operated by Canadian Natural Resources, this producing well is located near the northwestern edge of the Halfway oil pool. The extension to [Read more]
Comment period opens for $20.6-billion Frontier oilsands mine project in Alberta
The Impact Assessment Agency of Canada is inviting public comment on the proposed Frontier oilsands mine project in northern Alberta. The agency, which was until recently called the Canadian Environmental Assessment Agency, says the public and Indigenous groups can comment on potential environmental assessment conditions for the project until Nov. 24. The $20.6-billion mine proposed by Vancouver-based Teck Resources Ltd. for a site 110 kilometres north of Fort McMurray would be built in [Read more]