On November 18, 2019, Hardie & Kelly Inc. was appointed receiver and manager (the “Receiver”) of Wolf Coulee Resources Inc. (“Wolf Coulee” or the “Company”). The Receiver has engaged Sayer Energy Advisors (“Sayer”) to assist with the sale of Wolf Coulee’s oil and natural gas properties. The Receiver was appointed by the Court pursuant to the application made by the Orphan Well Association and intends to divest the properties, in whole or in part. The offering presents an opportunity to [Read more]
Headlines
Alberta premier heads to Montreal and Washington, D.C. to talk business and pipelines
EDMONTON - Alberta Premier Jason Kenney will travel to Montreal and Washington, D.C., this week. A statement from Kenney's office says the trip, which starts Monday and continues until next Sunday, will promote the government's work to drive investment, expand Alberta exports and get pipelines built. The statement says Kenney will meet with business leaders in Montreal and do media interviews. In Washington, he's set to attend National Governors Association meetings along with Ontario [Read more]
Advantagewon Oil Corp., Further Expands its Canadian Operations
Toronto, Ontario--(Newsfile Corp. - February 3, 2020) - Advantagewon Oil Corp., (CSE: AOC), (OTC Pink: ANTGF), (the "Corporation", "Advantagewon", "AOC") announced today that it has further expanded and advanced its Canadian based operations. The Corporation has entered into an agreement whereby it acquired a working rights interest to a former operating well that has a historic production record of between 20 and 30 Barrels of Oil Per Day ("BOPD"). The Corporation has also committed to [Read more]
Prairie Provident Announces Year-End 2019 Reserves
CALGARY, Alberta - Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) is pleased to announce the results of our independent 2019 year-end reserves evaluation conducted by Sproule Associates Limited (“Sproule”) with an effective date of December 31, 2019 (the “Sproule Report”). 2019 RESERVES HIGHLIGHTS Significant proved plus probable (“2P”) and total proved (“1P”) reserves were added through exploration and development activities in 2019, totaling 4.3 MMboe and [Read more]
Regulators revisit environmental review for Line 3 pipeline
ST. PAUL, Minn. - Minnesota regulators opened a hearing Friday on an updated environmental review for Enbridge Energy's plan to replace its aging Line 3 crude oil pipeline across the state, but most testimony focused on broader questions of whether the project even be built. Environmental and tribal activists urged the Public Utilities Commission to reconsider its earlier approvals and kill the project, saying climate change has reached a crisis stage. But the project's supporters, including [Read more]
Alberta, Fort McKay to meet in three months on fate of Moose Lake protected area
EDMONTON - The Alberta government and the Fort McKay First Nation have agreed to meet again in three months to decide the fate of one of the last areas in the band's territory that hasn't been impacted by oilsands development. In 2018, the band thought it had a deal putting a 10-kilometre buffer around Moose Lake. But the deal wasn't ratified and Alberta's energy regulator later approved an oilsands mine that would come within two kilometres of the shore. The First Nation is fighting [Read more]
Dow to build Alberta ethylene plant expansion for more than US$200 million
CALGARY - U.S. chemical producer Dow Inc. has approved an expansion of its Alberta petrochemical facilities expected to cost between US$200 million and US$225 million. While releasing its fourth-quarter results this week, CEO Jim Fitterling announced the Michigan-based company will increase capacity at its Fort Saskatchewan ethylene plant just north of Edmonton by about 130,000 tonnes per year by adding a process furnace. He says Dow will equally share costs of the expansion and the [Read more]
Canada weekly rig count up 3 to 247
Canada’s fleet of active drilling rigs grew from 244 to 247 since last week according to data from Baker Hughes. Total drilling count was 247 at January 31. 157 rigs were drilling for oil; 90 for natural gas. The drilling activity in Alberta remained at 171 from last week. Saskatchewan’s drilling grew from 51 to 53 rigs. View a full breakdown of Western Canada’s rig activity. [Read more]
U.S. drillers cut oil rigs for first week in three
U.S. energy firms reduced the number of oil rigs operating for the first time in three weeks as producers follow through on plans to slash spending on new drilling for a second consecutive year in 2020. Drillers cut one oil rig in the week to Jan. 31, bringing the total count down to 675, energy services firm Baker Hughes Co said in its closely followed report on Friday. In the same week a year ago, there were 847 active rigs. In January, the rig count declined for the 13th time in the [Read more]
Prospects advance for Canada’s oil pipelines, but hurdles remain
Prospects for expanding pipelines to move Canadian oil to markets have brightened, but plenty of hurdles remain for the Canadian sector, which has struggled for years with low prices and a glut in storage due to long project delays. Two of three major proposals - TC Energy Corp's Keystone XL and the Canadian government-owned Trans Mountain - have cleared obstacles to bring them a step closer to fruition. The third, Enbridge Inc's Line 3, faces a new round of hearings before regulators in [Read more]