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]
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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]
Richelhoff Resources Inc.: Saskatchewan Heavy Oil Property Divestiture
Richelhoff Resources Inc. (“Richelhoff” or the “Company”) has engaged the services of Sayer Energy Advisors to assist it with the sale of its 100% working interest heavy oil property in the Salvador area of Saskatchewan (the “Property”). Richelhoff is selling the Property in order to focus its efforts on its core properties in other areas. Richelhoff’s vertical Mannville (Sparky and Waseca Formation) heavy oil wells currently produce approximately 30-40 barrels of 13o API (980 kg/m3) [Read more]
Teck pulls application for C$20.6 bln Frontier project, to take writedown
Teck Resources Ltd has withdrawn the application for its C$20.6 billion ($15.7 billion) Frontier oil sands mine in Alberta, the company said on Sunday, days before the federal government was to decide on whether to approve the controversial project. Teck said it would write down the C$1.13 billion carrying value of the project. The news was first reported by the Globe and Mail newspaper. The company released a letter by Teck Chief Executive Don Lindsay to Canada's environment minister, [Read more]
Canadian police move in to clear indigenous blockade of Ontario rail line
Police moved in on Monday morning to clear a rail blockade by an indigenous group in eastern Canada that had been stopping freight and passenger traffic for more than two weeks on one of the country's busiest lines. Canadian National Railway Co obtained an injunction against those preventing rail traffic from moving along its trunk line near Belleville, Ontario, on Feb. 7, but provincial police had taken a cautious approach until now. Dozens of Ontario Provincial Police (OPP) descended on [Read more]
Chinook Energy Inc. Announces Plan of Arrangement
Calgary, Alberta - Chinook Energy Inc. (TSX: CKE) ("Chinook" or the "Company") is pleased to announce today that it has entered into a definitive arrangement agreement (the "Arrangement Agreement") pursuant to which Tourmaline Oil Corp. (TSX: TOU) (the "Purchaser") has agreed to acquire all of the outstanding common shares of Chinook ("Chinook Shares") for cash consideration of $0.0675 per share (the "Share Consideration"). The Share Consideration represents a 33% premium over the twenty day [Read more]
Tourmaline Announces NEBC Montney Consolidation Activities
CALGARY - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is pleased to announce a series of transactions in the NEBC Montney gas/condensate complex. The Company has entered into a definitive agreement to acquire a public oil and gas producer, has also acquired a private oil and gas company and has completed a small complementary asset transaction at Gundy. The two corporate transactions add approximately 6,000 boepd of current production, 2P reserves of 116.3 mmboe(1), and [Read more]