CALGARY, Alberta, May 13, 2019 (GLOBE NEWSWIRE) -- Delphi Energy Corp. (“Delphi” or the “Company”) is pleased to provide a production update on its first four-well Montney pad at West Bigstone. Over the past two weeks, the Company has brought all four wells on production from its first multi-well pad in West Bigstone with a surface location of 13-34-59-24W5 (“13-34”). Delphi has a 65 percent working interest in the 13-34 pad. Facility upgrades, including provisions for gas lift of wells in the [Read more]
Headlines
Oilfield services firm Weatherford to file for Chapter 11 bankruptcy
(Reuters) - Oilfield services provider Weatherford International Plc, burdened by a heavy debt load and years of losses, said on Friday it would file for Chapter 11 bankruptcy protection. The company, which at its peak was valued at more than $50 billion, never recovered from the 2014 oil price collapse. Efforts under Chief Executive Officer Mark McCollum to quickly sell assets and pare debt struggled. Weatherford expects to reduce its long-term debt by more than $5.8 billion, through the [Read more]
Pacific Oil & Gas Ltd. To Acquire Canbriam Energy Inc.
CALGARY, May 13, 2019 /PRNewswire/ - Canbriam Energy Inc. ("Canbriam") and Pacific Oil and Gas Ltd. ("PO&G") today jointly announce the signing of definitive documents for the acquisition by PO&G of all of the issued and outstanding shares of Canbriam for cash consideration (the "Transaction"). Canbriam's Board of Directors has provided unanimous approval of the Transaction, and all of the officers, directors and significant shareholders of Canbriam representing greater than 90 percent [Read more]
Alberta premier Jason Kenney says provincial carbon tax will die May 30
EDMONTON - Premier Jason Kenney says Alberta's carbon tax will be dead soon. Kenney says the Carbon Tax Repeal Act is to be introduced during next week's legislature sitting and will have a proviso to end the tax by the end of the month. "By May 30th there will no longer be an Alberta carbon tax," Kenney said Monday at a news conference outlining some of the legislation coming from his new United Conservative government. An end to the tax implemented by the former NDP [Read more]
Fuelled Engaged by PwC to Facilitate Large Energy Asset Disposition
Today, Fuelled, Canada's leading energy equipment marketplace, announced an agreement with PricewaterhouseCoopers Inc., LIT, in its capacity as the court appointed Receiver of Trident Exploration ("Receiver"). This agreement will allow Fuelled to act as the exclusive sales agent for Trident’s surplus oil and gas equipment. Fuelled is representing the Receiver on the divestiture of approximately 250 pieces of production equipment located in Western Canada. “We look forward to working closely [Read more]
Strategic Oil and Gas Ltd. and Strategic Transmission Ltd. seeking proposals for the purchase of the assets of the Company
In the matter of The Companies’ Creditors Arrangement Act Proceedings of Strategic Oil & Gas Ltd. and Strategic Transmission Ltd. Strategic Oil and Gas Ltd. and Strategic Transmission Ltd. (together, the “Company”), is currently seeking proposals in relation to the purchase of the assets of the Company. Assets include oil & gas activities in Marlowe Muskeg, Cameron Hills, Bistcho, Larne, Conrad, Taber, Zama, and Shelikie. 1. The stalking horse bid deadline for submission of [Read more]
Bonavista Kaybob Property Offering
Bonavista Energy Corporation (“Bonavista”) has retained CB Securities Inc. (“CB Securities”) as its exclusive advisor for the sale of their Kaybob property. Highlights1,532 BOE/day of net production based on March 2019 field sales estimates490 Bbls/day of light oil and condensate5.7 MMcf/day of sales gas85 Bbls/day of propane and butane76 (44.6 net) producing wells87% of production from the Cardium, Montney, and Bluesky/GethingApproximately half of the production is operated by Bonavista3.50 LMR [Read more]
John Robson: Staying warm is important
When it’s really cold, especially out of season, people joke that they wish we’d get some of that global warming they keep hearing about. And there’s many a true word spoken in jest. Of course if you talk that way, even if you’re not Donald Trump, you get irritated lectures that global warming isn’t about the good warmth that leads people to, say, vacation in the Caribbean. It’s the terrible kind that causes droughts, floods, hurricanes, the extinction of every species that’s cute or useful [Read more]
NDP unveils parts of climate plan in motion as the Green Party edges closer
OTTAWA - NDP leader Jagmeet Singh says his party will cut Canada’s emissions almost in half over the next decade as he tries to stake out a claim to the climate change agenda in the looming federal election. The pledge is one contained in an NDP motion expected today in the House of Commons that will lay out eight broad strokes of the NDP’s climate change platform. The motion asks for Prime Minister Justin Trudeau to declare “an environment and climate emergency” as well as pledge to cut [Read more]
TransGlobe Energy Corporation Announces First Quarter 2019 Financial and Operating Results
For the three months ended March 31, 2019 CALGARY, Alberta, May 13, 2019 (GLOBE NEWSWIRE) -- AIM & TSX: “TGL” & NASDAQ: “TGA” TransGlobe Energy Corporation (“TransGlobe” or the “Company”) is pleased to announce its financial and operating results for the three months ended March 31, 2019. All dollar values are expressed in United States dollars unless otherwise stated. TransGlobe's Condensed Consolidated Interim Financial Statements together with the notes related thereto, as well as [Read more]