EDMONTON - It's officially a full house at the Alberta legislature. The 63 members of the United Conservative caucus, including Premier Jason Kenney, have been sworn in at the legislature. They join 24 members of the Opposition NDP caucus, including leader Rachel Notley, who were sworn in last week. Next up is the election of a new Speaker, followed on Wednesday by the Speech from the Throne and the first piece of legislation. Kenney has promised Bill 1 would repeal the provincial [Read more]
Headlines
Prairie Provident Secures Option to Acquire Additional Princess Acreage and Updates Corporate Presentation
CALGARY, Alberta, May 21, 2019 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. ("Prairie Provident", "PPR" or the "Company") confirms that the Company has entered into an agreement securing an exclusive option to acquire up to 21 additional sections of land in the Princess area by year-end. The Company’s net undeveloped land holdings in the Princess area will be expanded to a total of 48,582 acres if the option is fully exercised, further increasing PPR’s inventory of high-quality Lithic [Read more]
Bonterra Energy Corp. Announces Update to Credit Facilities
CALGARY, May 21, 2019 /CNW/ - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) ("Bonterra" or the "Company") today announces that following the annual review of its credit facilities, Bonterra management and Board of Directors have determined, along with the bank syndicate, that amending the credit facilities will better reflect the Company's current operating needs and strategy. The amended credit facilities are comprised of a $300 million syndicated revolving credit facility [Read more]
Canadian Natural Resources Limited Announces Normal Course Issuer Bid
CALGARY, Alberta, May 21, 2019 (GLOBE NEWSWIRE) -- Canadian Natural Resources Limited ("Canadian Natural") announced today that the Toronto Stock Exchange has accepted notice filed by Canadian Natural of its intention to make a Normal Course Issuer Bid (“NCIB”) through the facilities of the Toronto Stock Exchange or other alternative Canadian trading systems. Purchases may also be made through the facilities of the New York Stock Exchange. The notice provides that Canadian Natural may, during [Read more]
Carbon tax, desk-thumping on agenda in upcoming Alberta legislature session
EDMONTON - Alberta Premier Jason Kenney's government heads to the legislature this week to make noise with an ambitious legislative agenda while trying to keep a hush on daily affairs. Kenney has promised what he calls a "spring of renewal" in the first sitting since his United Conservatives beat Rachel Notley's NDP in the April 16 election. He and his 62 fellow UCP caucus members are to be sworn in as legislature members Tuesday, followed by a throne speech Wednesday and introduction of a [Read more]
Canada Weekly Rig Count Remains Unchanged at 63
Western Canada’s fleet of drilling rigs stayed at 63 according to data collected by Baker Hughes for the week of May 17th. From last Friday, Alberta rig counts went from 42 to 43. Saskatchewan's rig count declined from 2 to 1. Oil drilling went stayed at 22; natural gas rigs remained at 41. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. oil drillers cut rigs to lowest count since March 2018
U.S. energy firms this week reduced the number of oil rigs operating for the second week in a row, with the rig count at its lowest since March 2018, as some drillers follow through on plans to cut spending. Despite those cuts, production in the nation's biggest shale formations was expected to keep rising from record levels. Drillers cut three oil rigs in the week to May 17, bringing the total count down to 802, below the 844 units operating a year ago, General Electric Co's Baker Hughes [Read more]
Canadian Senate committee passes amendments on Bill C-69
A Canadian Senate committee has passed 187 amendments to a controversial energy bill proposed by the Liberal government that would change how the environmental impact of major projects like oil export pipelines is assessed. The amendments, approved late on Thursday, were welcomed by the premier of Canada's main crude-producing province Alberta, but environmental groups warned they represent a step backwards in Canada's commitment to tackling climate change. Bill C-69 will now go back to [Read more]
Traverse Energy Announces 2019 First Quarter Results
CALGARY, Alberta, May 16, 2019 (GLOBE NEWSWIRE) -- Traverse Energy Ltd. (“Traverse” or “the Company”) (TSX Venture: TVL) presents financial and operating results for the three months ended March 31, 2019. Three Months Ended Highlights (unaudited) March 31, 2019 December 31, 2018 March 31, 2018 Financial ($ thousands, except per share amounts) Petroleum and natural gas revenue 1,582 1,191 1,979 Cash from [Read more]
Obsidian Energy Announces Proposed Sale of its 55% Working Interest in the Peace River Oil Partnership
CALGARY, May 17, 2019 /CNW/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce it has signed a purchase and sale agreement (the "Agreement") to sell its 55% working interest in the Peace River Oil Partnership ("PROP") for total consideration of approximately $97 million, before normal closing adjustments. Total consideration includes $85.8 million in cash and cash equivalents, with the remainder comprised of [Read more]