SASKATOON, Saskatchewan, Nov. 19, 2018 (GLOBE NEWSWIRE) -- Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX.V: SOIL) (FSE: SMK) is pleased to announce that with the success of the recent drill program the Company has achieved a production rate of 1,000 bbls/d. Additionally, the Company has commenced drilling its Q4 of 2018 Viking horizontal program. Saturn currently has 16 gross (14 net) producing Viking horizontal wells and anticipates drilling 18 additional 100% working interest [Read more]
Headlines
Canada Weekly Rig Count Up 1 to 197
Western Canada’s fleet of drilling rigs increased to a total of 197 according to data collected by Baker Hughes for the week of Novmeber 16th. From one week ago, Alberta rig counts went up 1 to 137. Saskatchewan's rig count increased from 37 to 39. Oil drilling went from 117 to 118; natural gas rigs remained at 79. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. drillers add oil rigs for fifth week in six -Baker Hughes
U.S. energy firms this week added oil rigs for a fifth time in six weeks, keeping the rig count at its highest in over three years and crude production from shale basins at a record high.Drillers added two oil rigs in the week to Nov. 16, bringing the total count to 888, still the highest level since March 2015, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. After rig additions stalled at five during the third quarter, drillers [Read more]
Strategic Oil & Gas Ltd. Announces Third Quarter 2018 Financial and Operating Results
CALGARY, Alberta, Nov. 16, 2018 (GLOBE NEWSWIRE) -- Strategic Oil & Gas Ltd. (“Strategic” or the “Company”) (TSXV: SOG) is pleased to report financial and operating results for the three and nine months ended September 30, 2018. Detailed results and additional information are presented in Strategic's interim condensed consolidated financial statements and related Management's Discussion and Analysis ("MD&A") which will be available through the Company's website at www.sogoil.com and on [Read more]
Hello Ontario: Access Mat Provider, TerraPro Expands into Eastern Canada
TerraPro enters Ontario with a host of access matting services. Mount Albert, Ontario – November 2018TerraPro Inc, Canada’s second largest remote access matting company has officially opened their doors to the Ontario market with the creation of TerraPro East Inc. Through TerraPro East Inc, the company now offers access matting sales, rentals, and logistics to energy and utility companies within Ontario. They have also finalized an agreement with the International Union of Operating [Read more]
Questerre Doubles Kakwa Land Position
CALGARY, Alberta, Nov. 16, 2018 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today that it has completed a major expansion of its core acreage in the Kakwa area. The Company has acquired 34 (17 net) sections for the Montney Formation immediately offsetting its producing acreage at Kakwa and its acreage at Kakwa North. The lands are subject to an industry standard gross overriding royalty. Subject to the drilling of additional wells [Read more]
Questerre reports third quarter 2018 results
CALGARY, Alberta, Nov. 15, 2018 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on its financial and operating results for the third quarter ended September 30, 2018. Michael Binnion, President and Chief Executive Officer of Questerre, commented, “We were very pleased with the results from the first farm-in well at Kakwa North. The second well is being tested and a third farm-in well could spud early next year. By this time next year, [Read more]
Traverse Energy Announces 2018 Third Quarter Results
CALGARY, Alberta, Nov. 15, 2018 (GLOBE NEWSWIRE) -- Traverse Energy Ltd. (“Traverse” or “the Company”) (TSX Venture: TVL) presents financial and operating results for the three and nine months ended September 30, 2018. Three months ended Sept. 30, Nine months ended Sept. 30, Highlights (unaudited) 2018 2017 2018 2017 Financial ($ thousands, except per share amounts) Petroleum and natural gas revenue 1,769 2,173 5,526 7,814 Cash from operating [Read more]
Can US shale oil meet the IEA’s supply gap in 2025? A message of hope for the industry
In it’s World Energy Outlook 2018 issued on November 13, the IEA stated US Shale will need to add another "Russia" before 2025, or roughly 11 million barrels per day if forecast energy demand is to be met. Given the recent crash in world oil prices due to a number of competing geo-political factors (as is usually the case), and the angst in the patch, I thought it interesting to test this thesis. As an aside, the OECD storage levels were at the five-year average in October at 2.848 billion [Read more]
Alberta energy firms split on call for government imposed production cuts
CALGARY - Oilsands and refining giants Suncor Energy Inc. and Husky Energy Inc. are rejecting a call by rival Cenovus Energy Inc. for government-imposed production cuts to reduce an oversupply of oil in Alberta linked to steep price discounts. Suncor spokeswoman Sneh Seetal says the company has no exposure to the "differential" between Western Canadian Select bitumen-blend crude and New York-traded West Texas Intermediate and therefore shouldn't have to reduce its production. She says the [Read more]