CALGARY, July 9, 2019 /CNW/ - Gear Energy Ltd. ("Gear") (TSX: GXE) today announces changes to the Board of Directors of Gear effective immediately. Gear is pleased to announce the addition of Scott Robinson, P. Eng. to the Board of Directors of Gear. Mr. Robinson has a Master's degree in Chemical Engineering from the Colorado School of Mines and has been a petroleum engineer for over 35 years. Mr. Robinson brings a broad range of technical and business leadership experience to Gear including [Read more]
Headlines
Russian output falls to three-year low as oil rivals clash
Russian oil production fell close to a three-year low in early July, as output was undermined by a row between Russian oil pipeline monopoly Transneft and the country’s biggest producer Rosneft. Transneft curbed oil intake from Yuganskneftegaz, Rosneft’s main upstream unit, the oil producer said, hurting production that has already been depressed by an oil contamination crisis. Rosneft confirmed intake limits first reported by Reuters. Transneft also confirmed to local media it had capped [Read more]
Oil steadies as demand concern counters Middle East tensions
Oil prices steadied on Monday as tensions over Iran’s nuclear program were tempered by global economic growth concerns and consequently oil demand. U.S. West Texas Intermediate (WTI) was down 2 cent at $57.49. Brent crude futures were down 1 cent by 1122 GMT at $64.22 a barrel. Iran on Monday threatened to restart deactivated centrifuges and step up its enrichment of uranium to 20% in a move that further threatens the 2015 nuclear agreement that Washington abandoned last [Read more]
Advantage Provides Second Quarter 2019 Operational Update
Increased Liquids Production and Market Diversification Gains Deliver Solid Adjusted Funds Flow (TSX: AAV) CALGARY, July 8, 2019 /CNW/ - Advantage Oil & Gas Ltd. ("Advantage" or the "Corporation") is pleased to provide an operational update which includes solid second quarter 2019 results driven by higher than planned liquids production and strong market diversification gains. Liquids production during the quarter increased 142% year over year to 2,580 bbls/d, primarily from bringing [Read more]
Plains Midstream Canada Announces Rangeland Pipeline Expansion
CALGARY, July 8, 2019 /CNW/ - Plains Midstream Canada (PMC) today announces a proposed expansion of its Rangeland crude oil pipeline system for additional delivery capacity both north to Edmonton, Alberta and south to the border at Carway, Alberta. This expansion is subject to receiving sufficient commitments from shippers and receipt of necessary permits and regulatory approvals, and will provide incremental takeaway capacity for the East Duvernay and other Rangeland-area production, as well as [Read more]
Heavy and synthetic differentials steady
Canada's heavy and synthetic crude differentials were little changed on Monday: * Western Canada Select (WCS) heavy blend crude for August delivery in Hardisty, Alberta, settled at $12.05 per barrel below West Texas Intermediate (WTI) oil, according to Net Energy Exchange. On Friday, WCS for August delivery settled at $12.10 a barrel below WTI crude futures. * Differentials were steady, with many industry players attending events at the Calgary Stampede, a 10-day rodeo in Canada's [Read more]
Conservationists file legal challenge to Trans Mountain reapproval over whales
VANCOUVER - The federal government is facing a new legal challenge after it approved the Trans Mountain pipeline expansion for a second time. Ecojustice has filed a motion to the Federal Court of Appeal on behalf of Raincoast Conservation Foundation and the Living Oceans Society asking for leave to launch a judicial review of cabinet's decision. Raincoast says in a statement that it will argue cabinet failed to comply with its responsibility to protect critically endangered southern [Read more]
Encana Announces Commencement of US$213 Million Substantial Issuer Bid
CALGARY, July 8, 2019 /CNW/ - Encana Corporation (NYSE,TSX: ECA) today is commencing its previously announced substantial issuer bid ("the Offer") to purchase for cancellation up to US$213 million of its common shares ("Shares"). The Offer will expire at 5:00 p.m. (Eastern time) on August 14, 2019, unless extended or withdrawn. The Offer by Encana is being made by way of a "modified Dutch Auction," allowing shareholders who choose to participate in the Offer to individually select the price, [Read more]
InPlay Oil Corp. Provides Operations Update and Announces Renewal of Credit Facilities
CALGARY, Alberta, July 08, 2019 (GLOBE NEWSWIRE) -- InPlay Oil Corp. (TSX: IPO) (OTCQX: IPOOF) ("InPlay" or the "Company") is pleased to provide an operations update and announce that the annual review of its operating and syndicated credit facilities by its lenders has been completed. Production for the second quarter, based on field estimates, is expected to average over 5,100 boed. The Company is very pleased with this result as it is above the high end of our annual production guidance of [Read more]
Encana Signs Agreement to Sell its Arkoma Basin Natural Gas Assets
CALGARY, July 8, 2019 /CNW/ - Encana Corporation (NYSE, TSX: ECA) today announced that its wholly owned subsidiary, Newfield Exploration Mid-Continent Inc., signed an agreement to sell its natural gas assets in Oklahoma's Arkoma Basin to an undisclosed buyer. Total cash consideration to Encana under the transaction is $165 million. The agreement is subject to ordinary closing conditions, regulatory approvals and other adjustments and is expected to close in the third quarter of 2019. "Along [Read more]