The Alberta government on Friday trimmed its 2018-2019 budget deficit estimate, but downgraded the 2019 economic growth forecast in the Canadian province due to faltering crude oil prices. The deficit looks to reach $7.5 billion, compared with $7.8 billion projected in August, the government said in a statement. The left-leaning New Democrat government led by Premier Rachel Notley had budgeted in April for an $8.8 billion deficit. She faces a provincial election in spring. Low Canadian [Read more]
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N.B. Tories survive throne speech vote, plan to end ban on hydraulic fracturing
FREDERICTON - New Brunswick Premier Blaine Higgs says his government will change regulations to allow limited shale gas development —and could have it done before the end of the year. The throne speech of the minority Tory government passed in the legislature today, including a subamendment that urges government to allow limited natural gas development in the Sussex area. Saint John Harbour Liberal MLA Gerry Lowe voted with the Tories and the People's Alliance parties to support [Read more]
Open Letter to Premier Rachel Notley
Dear Premier Notley, I publish the BOE Report and founded this oil and gas daily in 2012. Through the years we have had a front row seat to the many failures of our governments to act on getting this province market access solutions. Major projects have been killed or put on indefinite hiatus, and government interventions to try to salvage these projects has become the norm. But none of this matters right now. We currently have no takeaway capacity and the industry is in free-fall. As you [Read more]
Point Loma Resources Announces Non-Core Gas Property Disposition for Cash Proceeds
CALGARY, AB / ACCESSWIRE / November 30, 2018 / Point Loma Resources Ltd. (TSX VENTURE: PLX) (the "Corporation" or "Point Loma") is pleased to announce that it has closed a previously announced agreement to sell a minor interest in a gas property. The sale price of the non-core disposition is approximately $350,000 net to Point Loma, before customary closing adjustments, and has been paid in cash. Highlights Point Loma and Salt Bush Energy (‘Joint Venture Partner") have closed an [Read more]
Bellatrix Announces Closing of Daewoo Acquisition and Extension of Its Revolving Credit Facilities
CALGARY, Alberta, Nov. 30, 2018 (GLOBE NEWSWIRE) -- Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX, NYSE: BXE) announces that it has closed the previously announced acquisition of complementary assets from POSCO DAEWOO E&P Canada Corporation (“Daewoo”). The acquired assets are located in Bellatrix’s core Ferrier area of west central Alberta and include approximately 1,250 boe/d (65% natural gas, 35% liquids) of low decline (<15%) production. The acquisition was funded [Read more]
Vermilion Energy Inc. Announces the Assumption of Operatorship of the Corrib Project
CALGARY, Nov. 30, 2018 /CNW/ - Vermilion Energy Inc. ("Vermilion") (TSX, NYSE: VET) is pleased to announce the completion of the sale of Shell Overseas Holdings Limited's ("Shell") 45% interest in the Corrib Natural Gas Project in Ireland ("Corrib") to Nephin Energy Holdings Limited (NEHL), a wholly owned subsidiary of Canada Pension Plan Investment Board (CPPIB), and the transfer of operatorship to Vermilion. NEHL has acquired 100% of Shell E&P Ireland Limited ("SEPIL"), which holds 45% [Read more]
Husky Energy Appoints Chief Financial Officer
CALGARY, Alberta, Nov. 30, 2018 (GLOBE NEWSWIRE) -- The Board of Directors of Husky Energy (TSX:HSE) has announced the appointment of Jeff Hart as Chief Financial Officer (CFO). “Jeff is already an integral member of our executive management team, having served as our Acting CFO since April 2018, and has extensive experience in progressively senior finance roles at Husky,” said CEO Rob Peabody. “As such, he is well positioned to ensure the successful execution of our five-year-plan.” Prior to [Read more]
Calling Seminar Facilitators
Calling Seminar Facilitators – Do you have a high level of expertise in measurement, land, land admin, joint venture, marketing, engineering, field services, finance or specialized production accounting functions that would be of interest to PAs? Seminar Request for Proposals [Read more]
Canadian Spirit Resources Inc. Announces Third Quarter 2018 Financial Results and Grant of Stock Option
CALGARY, Alberta, Nov. 29, 2018 (GLOBE NEWSWIRE) -- Canadian Spirit Resources Inc. (“CSRI” or the “Corporation”) (TSXV:SPI) (OTCBB:CSPUF) announces the release of its interim financial results and Management Discussion and Analysis (“MD&A”) for the three and nine month periods ended September 30, 2018. In addition, CSRI announces that it has granted, effective November 28, 2018, options to acquire 300,000 common shares of the Corporation in accordance with the terms and conditions of the [Read more]
Prairie Provident Announces Renewal of Normal Course Issuer Bid
CALGARY, Alberta, Nov. 29, 2018 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. ("Prairie Provident" or the "Company") announces that the Toronto Stock Exchange ("TSX") has accepted for filing the Company's notice of intention to make a normal course issuer bid ("NCIB"). The NCIB effectively renews the existing NCIB, which is scheduled to end on November 30, 2018. Pursuant to the renewed NCIB, Prairie Provident may purchase from time to time up to a maximum of 5,000,000 common shares, at [Read more]