Western Canada’s fleet of drilling rigs declined by 10 to the current 202 actively drilling rigs according to data collected by Baker Hughes for the week of October 20th. From one week ago, Alberta rig counts decreased from 144 to 141, the Saskatchewan rig count decreased by 10 from 40 to 30. Oil drilling declined by 5 to 107; gas rigs went down 5 from 100 to 95. View a full breakdown of western Canada’s rig activity. [Read more]
Headlines
U.S. natural gas prices under pressure even as stocks tighten
LONDON, Oct 20 (Reuters) - U.S. natural gas stocks continue to tighten, but most traders appear unconcerned, with futures prices for gas delivered this winter close to the lowest levels since the start of the year. Working gas stocks in underground storage were 35 billion cubic feet (bcf) below the five-year average at 3,646 bcf on Oct. 13, according to data from the U.S. Energy Information Administration. Working stocks have tightened significantly since the middle of March, when they stood [Read more]
Blackbird Energy Inc. Announces the Appointment of Karen Minton as Chief Financial Officer
CALGARY, Alberta, Oct. 19, 2017 (GLOBE NEWSWIRE) -- (TSX-V:BBI) Blackbird Energy Inc. (“Blackbird” or the “Company”) is pleased to announce the appointment of Karen Minton as Chief Financial Officer of the Company, effective immediately. “I am delighted to have Karen join the Blackbird team and look forward to working with her. Karen joins us at an exciting time for our Company, and I am grateful we were able add someone of her character, experience and intelligence to oversee critical steps in [Read more]
Perpetual Energy Inc. Announces Appointment of Director
(TSX:PMT) - CALGARY, Oct. 19, 2017 /PRNewswire/ - Perpetual Energy Inc. ("Perpetual") is pleased to announce the appointment of Mr. Ryan Shay to the Board of Directors. Mr. Shay brings over 20 years of experience in the oil and gas industry, retiring in June 2016 from his position as Managing Director, Head of Investment Banking for Cormark Securities. Prior to transitioning to investment banking, Mr. Shay was Cormark's Senior Energy Research Analyst for eight years. Mr. Shay's extensive [Read more]
Thailand’s PTTEP delays Canadian oil sands project at cost of $550 mln
PTT Exploration and Production Pcl (PTTEP) , the upstream arm of Thailand's energy giant PTT Group , said on Thursday that it was delaying plans investment for the Mariana Oil Sands in Canada. PTTEP, which owns 100 percent of the Mariana Oil Sands, is delaying the project's final investment decision, which will result in an impairment cost of $550 million, the company said. The cost will be reflected in its third-quarter earnings. The delay is the latest project to be postponed in Canada's [Read more]
Hemisphere Energy Provides Operational Update
TSX-V: HME - VANCOUVER, Oct. 19, 2017 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") is pleased to announce that it has completed its fall drilling program and the expansion of its Atlee Buffalo F pool facility. Hemisphere successfully drilled six horizontal development wells targeting the Glauconitic Sands of the Upper Mannville F and G pools in the Atlee Buffalo area of southeast Alberta. All six wells were drilled on schedule and encountered excellent [Read more]
Cenovus reaches agreement to sell Palliser assets for $1.3 billion
CALGARY, Alberta, Oct. 19, 2017 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) has entered into an agreement to sell its Palliser crude oil and natural gas assets in southeastern Alberta to Torxen Energy and Schlumberger for cash proceeds of $1.3 billion. The sale is expected to close in the fourth quarter of this year, subject to customary closing conditions. As with other recently announced divestiture agreements, proceeds from the Palliser sale will be used to deleverage the [Read more]
E3 Metals Assay Results Confirm Leduc Reef Trend Enriched in Lithium Across a Broader Area Than Originally Tested
Vancouver, BC – October 19, 2017 – E3 METALS CORP. (TSX-V: ETMC, FSE: OU7A, OTC: EEMMF) (the “Company”, “E3” or “E3 Metals”) is pleased to announce that results from the first round of lithium sampling have confirmed historical data ranging from 29.1 mg/L to 84.8 mg/L at actively producing oil and gas wells across a portion of the Company’s Petro-Lithium Project in Alberta. E3 Metals’ sampling program has been completed without the requirement for drilling a well, taking advantage of the [Read more]
Kinder Morgan Canada says Trans Mountain activity slowed by permits
CALGARY - Kinder Morgan Canada Ltd. (TSX:KML) said Wednesday that it's already facing potentially months of delay on the Trans Mountain pipeline expansion project because of the timing of permits and regulatory approvals. "If you just took the delays experienced to date, and just flowed that through the schedule, we believe that results in a nine-month delay," said CEO Steve Kean during a conference call following the company's third-quarter earnings release. He said, however, [Read more]
Pengrowth Announces the Sale of Non-Core Alberta Assets
CALGARY, ALBERTA--(Marketwired - Oct. 18, 2017) - Pengrowth Energy Corporation (TSX:PGF) (NYSE:PGH) today announces that it has entered into an agreement for the sale of the vast majority of its remaining non-core legacy assets in Alberta for nominal cash consideration and the assumption of abandonment and reclamation liabilities. The sales package encompasses a collection of widely dispersed, mature legacy assets from 36 properties and over 270 facilities and 1,600 wellbores. The combined [Read more]