DALLAS - Exxon Mobil is boosting its projected growth of oil and gas production in the Permian Basin and says the field can be profitable even at lower crude prices. The company said Tuesday that as soon as 2024 it expects to produce the equivalent of more than 1 million barrels of oil per day in the basin, which straddles western Texas and New Mexico, up from a forecast of 600,000 barrels by 2025. Exxon has 48 drilling rigs in the basin and plans to raise that to 55 by year-end. [Read more]
Headlines
Altura Energy Inc. Announces 2018 Reserves, an Operational Update and 2019 Guidance
CALGARY, Alberta, March 05, 2019 (GLOBE NEWSWIRE) -- Altura Energy Inc. ("Altura" or the "Company") (TSX-V: ATU) is pleased to announce the results of the independent evaluation of the Company's oil and natural gas reserves (the "McDaniel Report"), effective December 31, 2018, as prepared by McDaniel and Associates Consultants Ltd. ("McDaniel"), an operational update and 2019 guidance. Altura’s audit of its 2018 annual financial statements is not yet complete and accordingly all financial [Read more]
New CAPL Course (1st of a Series of 4) – Acquisitions & Dispositions: Technical & Operations
CAPL Bio Keith Carr has spent nearly four decades working in the oil and gas industry and has been sharing his knowledge and enthusiasm with students for many years. His experience spans many of the technical disciplines including geology, drilling, completion, production engineering and facility design, construction and operation. Keith has worked with both conventional and unconventional resources. In 2006, Keith took on a role as an instructor and continues with this today. One of the [Read more]
Noem offers bills aimed at possible Keystone XL protests
PIERRE, S.D. - South Dakota Gov. Kristi Noem said Monday that she's proposing legislation before construction begins on the Keystone XL oil pipeline that would create a way to go after out-of-state money that funds pipeline protests. The legislation would let the state follow such money and "cut it off at the source," the Republican governor said in a statement. Noem would also set up a fund to cover extraordinary law enforcement costs that could come with intense pipeline opposition. [Read more]
Crew Energy Inc. Announces Fourth Quarter and Full Year 2018 Financial and Operating Results
CALGARY, March 4, 2019 /CNW/ - Crew Energy Inc. (TSX: CR) ("Crew" or the "Company") is pleased to announce our operating and financial results for the three and twelve month periods ended December 31, 2018. Crew's full audited consolidated Financial Statements and Notes, as well as Management's Discussion and Analysis ("MD&A") for the three and twelve month periods ended December 31, 2018 are available on Crew's website and filed on SEDAR at www.sedar.com. Q4 & FULL YEAR 2018 [Read more]
Gibson Energy Announces 2018 Fourth Quarter and Year-End Results and Provides Investor Day Webcast Details
All financial figures are in Canadian dollars unless otherwise noted CALGARY, Alberta, March 04, 2019 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (“Gibson” or the “Company”), (TSX: GEI), announced today its operating and financial results for the three months and fiscal year ended December 31, 2018. “We are very pleased with the record financial and operational results Gibson delivered in 2018, as well as the steps we took to deliver on our strategy, including the sanctioning of projects to reach [Read more]
Enbridge shares fall 6% after pipeline delay
Shares in Canadian pipeline operator Enbridge Inc fell 6 percent on Monday after disclosing an almost yearlong delay to the start of its Line 3 crude oil pipeline, which would carry heavy Canadian oils to the U.S. market. The delay is another blow to the Canadian oil industry, which has faced bottlenecks in bringing heavy crude to the United States that weighed on Canadian crude prices and prompted the Alberta government to order a cut in production to support oil prices. Enbridge shares [Read more]
Delphi Energy Corp. Reports 2018 Year End Reserves
CALGARY, Alberta, March 04, 2019 (GLOBE NEWSWIRE) -- Delphi Energy Corp. (“Delphi” or the “Company”) is pleased to announce its crude oil and natural gas reserves information for the year ended December 31, 2018 and provide an operations update. HIGHLIGHTS Successfully explored and delineated the Montney at West Bigstone with a drilling program that consisted of twelve (7.8 net) horizontal wells and brought on production twelve (7.8 net) horizontal Montney wells through significantly [Read more]
Enbridge:Line 3 replacement likely won’t be in service until second half of 2020
CALGARY - A pipeline that Alberta has been counting on to ease the bottleneck in moving its crude oil to foreign markets won't be in service for at least another year, according to its owners. Enbridge Inc. says in a news release that the timeline for construction of the Line 3 replacement likely won't see the pipeline operational until the second half of 2020. Just two weeks ago, the Calgary-based company expressed confidence that the project would be in service by the end of [Read more]
New impact assessment bill for energy projects to get major changes in Senate
OTTAWA - The federal government's promised overhaul of environmental evaluations for energy projects is poised for a major Senate surgery, but the upper chamber must race to pass the bill before an election guillotine sends it to the shredder. Bill C-69, the Impact Assessment Act, fulfils a Liberal campaign promise to change how major energy projects get reviewed for their environmental, social and economic effects, with the aim of speeding up reviews and making their criteria [Read more]