Ernst & Young Inc. in its capacity as Court-appointed receiver and manager (the “Receiver”) of Traverse Energy Ltd. (“Traverse” or the “Company”) has engaged Sayer Energy Advisors to assist with the sale of all of the Company’s remaining oil and natural gas properties which are located primarily in southern and central Alberta. The Court of Queen’s Bench of Alberta approved the sales and investment solicitation process (“SISP”) on February 14, 2020, along with the Receiver entering into a [Read more]
Headlines
End of blockade in central Ontario clears way for train service to resume
TYENDINAGA MOHAWK TERRITORY, Ont. - A police operation that saw officers descend on a rail blockade on Tyendinaga Mohawk Territory in central Ontario and arrest several protesters has cleared the way for train service to resume. Ontario Provincial Police say officers moved in Monday morning after efforts to negotiate a peaceful resolution were exhausted and a midnight deadline to clear the blockade, which has brought freight and passenger rail traffic in much of Eastern Canada to a virtual [Read more]
What the Record Shows: Wetʼsuwetʼen, Coastal GasLink and the BC EAO
As we’re forced further into our ideological identities, as either ‘for’ or ‘against’ the Coastal GasLink Project, I think it’s important we take a look back at the regulatory record to see how we may have gotten to where we are; to see what has been submitted by Office of the Hereditary Chiefs of the Wetʼsuwetʼen, Coastal GasLink (CGL) and the BC Environmental Assessment Office (EAO). Optimistically, the increased attention to this project could result in meaningful discussions with Office of [Read more]
Attention, Saskatchewan operators! You don’t want to miss this…
As you likely already know, the Government of Saskatchewan recently passed Directive PNG034: Saskatchewan Pipelines Code and Pipelines Administration and Licensing Regulations (PALR). Part of this directive requires that flowlines in the province of Saskatchewan must now be licensed through the Ministry of Energy and Resources (MER). At GDM Pipelines, we have been collecting and managing information related to Saskatchewan pipelines and flowlines for over 22 years. We have been following the [Read more]
Pipestone Energy Corp. Reports Increased Year-End Reserves, Including a 585% Increase in PDP Reserves
CALGARY, Alberta - (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) is pleased to report its year-end 2019 independent reserves evaluation prepared by McDaniel & Associates Consultants Ltd. (“McDaniel”) with an effective date of December 31, 2019 (the “McDaniel Report”). Year-End 2019 Reserve Results: Key Highlights from the Year-End 2019 McDaniel Report include: Proved Developed Producing (“PDP”) reserves increased by 585% from 2.7 MMboe to 18.5 MMboe [Read more]
Alberta legislature to resume with throne speech, tabling of blockade bill
EDMONTON - Alberta politicians are returning to the legislature with a promise of new legislation targeting protesters who set up blockades. Premier Jason Kenney says he plans to table a bill today that would create stiffer penalties for "anyone who riots on or who seeks to impair critical economic infrastructure, including railways." The United Conservative leader has been critical of protesters who have set up blockades on rail lines in support of the hereditary chiefs of the [Read more]
Journey Energy Inc. Reports 2019 Reserves and Provides Guidance for First Half of 2020
CALGARY - Journey Energy Inc. (JOY – TSX) ("Journey" or the "Company") is pleased to report its year-end 2019 oil and gas reserves evaluation and guidance for the first half of 2020. During 2019, the Company invested approximately $21 million in capital projects net of acquisition and divestiture ("A&D") activities, which were minimal in 2019. E&D activities were mainly focused at our Matziwin property where development included drilling of 7 (7.0 net) wells and investments in [Read more]
Gibson Energy Announces 2019 Fourth Quarter and Year-End Results and Announces a Dividend Increase
All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta - Gibson Energy Inc. (“Gibson” or the “Company”) (TSX: GEI), announced today its financial and operating results for the three months and fiscal year ended December 31, 2019. “Gibson continued to deliver strong, consistent operational and financial results throughout 2019, while also executing on the strategy and completing the transformation we outlined at the start of 2018,” said Steve Spaulding, President [Read more]
Allies in Energy Executive Forum Aimed at “Building Trust & Community in a Challenged Industry” is Officially Sold Out
The inaugural Allies in Energy Executive Forum, presented by Calgary Women in Energy, will be held on Wednesday, February 26, from 3:00 pm -7:00 pm at the Calgary Petroleum Club, with a panel of executive female Energy industry leaders with the goal of building trust and community in a challenged industry. This event was officially sold out after only 2 weeks. Calgary Women in Energy (CWiE) is proud to present the Allies in Energy executive forum. It will be a powerful afternoon focused on [Read more]
Teck Frontier cancellation: Uncertainty is costing Canadians
MONTREAL - The decision by Teck Resources to abandon its Frontier oilsands mine project in northern Alberta shows once again that Canada's regulatory, legal, and political environment entails unreasonable delays and uncertainty that chases investors away. "In Canada, getting an energy infrastructure project approved and implemented is a real challenge, even when the project meets all legal and regulatory requirements. This sends a very bad message to investors, many of whom end up proposing [Read more]