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]
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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]
Request for Offers to Purchase Assets of Dalmac Oilfield Services Inc.
Dalmac Energy Inc., Dalmac Oilfield Services Inc. and Professional Consulting Services Ltd. (collectively “Dalmac Group” or the “Companies”) carried on business in well stimulation and fluid management services which included fluid transfers, hot oiling, vac units, frack heating, well acidizing, tank rentals and equipment primarily serving the oil and gas industry in Western Canada. The Bowra Group Inc., in its capacity as Receiver (the “Receiver”) of the Companies, is offering for sale the [Read more]
PetroFrontier Corp. Announces Private Placement, Provides Proposed Funding Update and Early Warning Report
Calgary, Alberta - PetroFrontier Corp. (TSXV: PFC) ("PetroFrontier" or the "Company") is pleased to announce the following: Private Placement PetroFrontier has completed a non-brokered private placement for aggregate gross proceeds of $1,500,000 (the "Private Placement") whereby the Company issued an aggregate of 28,571,429 common shares ("Common Shares") from its treasury at a price of $0.0525 per Common Share. Proceeds from the Private Placement will be used to fund development and [Read more]
Alberta and two First Nations make deal for proposed oilsands mine
EDMONTON - The Alberta government has struck deals with two northern Alberta First Nations over a proposed open-pit oilsands mine that's awaiting Ottawa's approval. The Mikisew Cree and Athabasca Chipewyan First Nations had previously reached deals with Teck Resources Ltd. for the Frontier mine, but were still negotiating with the province over environmental and cultural concerns. Earlier this month, Alberta's Indigenous relations minister expressed concern that a public spat over the [Read more]
Canada weekly rig count down 11 to 244
Canada’s fleet of active drilling rigs shrank from 255 to 244 since last week according to data from Baker Hughes. Total drilling count was 244 at February 21. 169 rigs were drilling for oil; 75 for natural gas. The drilling activity in Alberta decreased from 160 to 152 since last week. Saskatchewan’s drilling fell from 72 to 70 rigs. View a full breakdown of Western Canada’s rig activity. [Read more]
U.S. oil rig count rises for third week in a row -Baker Hughes
The U.S. oil rig count rose for a third week in a row even though growth in the country's largest shale formation slows as producers cut spending on new drilling for a second consecutive year. Companies added one oil rig in the week to Feb. 21, bringing the total count to 679, their highest since the week of Dec. 20, energy services firm Baker Hughes Co said in its closely followed report on Friday. In the same week a year ago, there were 853 active rigs. U.S. crude futures traded [Read more]
Quebec protesters maintain rail blockade a day after court ordered it taken down
ST-LAMBERT, Que. - About two dozen protesters remain at a blockade south of Montreal in defiance of an injunction delivered Thursday ordering them to leave the site and stop disrupting rail traffic. Police patrols passed by the blockade in St-Lambert, Que., regularly overnight but there was no sign of a mobilization to eject the protesters from the site on Canadian National Railway tracks. The blockade in solidarity with Wet'suwet'en hereditary chiefs in British Columbia has interrupted [Read more]
Oil falls as coronavirus spread beyond China heightens demand fears
Oil prices fell on Friday amid concerns over fuel demand as the coronavirus epidemic spread further beyond China, while major crude producers stood pat on any early action to cut output to support the market. U.S. crude was off by 97 cents, or 1.8%, at $52.75 a barrel. Brent crude was down $1.08, or 1.8%, at $57.98 a barrel. On Friday South Korean authorities confirmed 52 new coronavirus infections, Yonhap reported. The streets of Daegu, the country's fourth-largest city, were [Read more]