Sayer Energy Advisors has been engaged to assist Aspenleaf Energy Limited and its wholly-owned subsidiary NEP Canada ULC (“Aspenleaf” or the “Company”) with the sale of its prospective Duvernay oil rights located in the Thorsby area of Alberta (the “Property”). The Property consists of Aspenleaf’s 100% working interest in 34,640 acres (54.1 sections) of Crown and Freehold Duvernay rights. Aspenleaf’s lands at Thorsby are offset to the southwest by recent Duvernay drilling activity by [Read more]
Headlines
Vertex Resource Group Ltd.’s Diversification Pays Off Entering 2019 With Record Backlog
REPORTS FOURTH QUARTER AND FISCAL 2018 FINANCIAL RESULTS Revenue of $46.2 million, EBITDA of $5.9 million and improved net income of $0.4 million for fourth quarter 2018 when compared with the fourth quarter of 2017. Revenue of $150.4 million, EBITDA of $20.6 million and net income of $2.3 million for the year ending December 31, 2018. SHERWOOD PARK, AB, March 25, 2019 /CNW/ - (TSXV:VTX) - Vertex Resource Group Ltd. ("Vertex" or the "Company") reports its financial and operational results [Read more]
Return Energy Undertakes Review of Strategic Alternatives
CALGARY, March 25, 2019 /CNW/ - RETURN ENERGY INC. ("Return" or the "Company") (TSX-V: RTN) 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. The Board believes that the current trading price of its common shares does not adequately reflect the underlying value of the Company and its assets, in particular its Upper Charlie Lake light [Read more]
Tidewater announces $85 million sale of cogeneration units at Pipestone Gas Plant
CALGARY, March 25, 2019 /CNW/ - Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Corporation") is pleased to announce that it has entered into an asset purchase and sale agreement whereby the Corporation has divested of its Pipestone Gas Plant's 32MW cogeneration units to Kineticor Resource Corp. ("Kineticor"), a privately held power developer focused on thermal generation in Canada. Under the terms of the sale, the Corporation received a cash payment of $85 million and Kineticor [Read more]
Robson: 97 percent wrong
If you dare raise questions about climate change, as we’re doing at the Climate Discussion Nexus, somebody will immediately try to clobber you with the claim that 97% of world scientists agree that it’s an urgent manmade crisis, unlike you idiots. But the thing is, they don’t. It’s a made-up number… and if someone is that smugly and aggressively wrong about something that important you wonder what else they don’t know. Many people assume the 97% figure is solid enough to be used as a club. [Read more]
UCP leader says ‘real tension’ lies behind Albertans’ support for secession
RED DEER, Alta. - The leader of Alberta's United Conservative Party notes that many people in the province support secession from Canada, based on what he calls "a real tension that runs through the hearts of many Albertans." The party states in a news release that a recent poll found "a shocking 50 per cent of Albertans surveyed said they support secession from Canada." Kenney says in the release that most Albertans are proud Canadians, but they will no longer tolerate the rest the [Read more]
Appeal Court to decide on B.C. pipeline law that would impact Trans Mountain
VANCOUVER - A British Columbia Court of Appeal hearing on proposed provincial legislation that would impact the Trans Mountain pipeline expansion has concluded and a panel of five judges has reserved its decision. B.C. filed the reference case to ask the court whether it can create a permitting system for companies that wish to increase the amount of heavy oil they are transporting through the province. The system would allow a provincial public servant to impose conditions on [Read more]
United Conservatives would call inquiry into foreign oilsands foes: leader
EDMONTON - The leader of Alberta's United Conservatives says he would call an inquiry into foreign-funded anti-oilsands campaigns if he were to become premier after the April 16 election. Jason Kenney calls it a fight-back strategy against those who smear Alberta's energy industry. He says the inquiry would have the legal authority to compel witnesses to testify and would start with a $2.5-million budget. Kenney's fight-back plan would also include a legal fund for First [Read more]
Crude-by-rail exports fall in January as Alberta started production cuts
CALGARY - The National Energy Board says crude-by-rail exports in January fell compared with December, but remained more than twice as high as 12 months earlier. The federal agency reports an average of 325,500 barrels per day of oil was exported by rail in January, down from 353,800 bpd in December but well above 145,700 bpd in January 2018. It says total crude oil exports by rail, pipeline and trucking fell to 3.49 million bpd in January from 3.92 million in December, but were [Read more]
U.S. oil drillers cut rigs for fifth week in a row
U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row to its lowest in nearly a year as independent producers follow through on plans to cut spending on new drilling with the government cutting its growth forecasts for shale output.Drillers cut nine oil rigs in the week to March 22, bringing the total count down to 824, the lowest since April 2018, General Electric Co's Baker Hughes energy services firm said in its closely followed report on [Read more]