The biggest news in the energy industry over the past few months has revolved around the OPEC (and non-OPEC) production cuts. Whether the May 25th agreement to extend existing supply cuts into 2018 will impact the market on a macro scale is yet to be seen. Many analysts share the opinion that these cuts aren’t enough, but in a broad sense there probably hasn’t been enough time to tell if they will move the market in a meaningful way. The reality is that these market changes can’t be expected to [Read more]
Headlines
Seven Generations on track to meet 2017 production guidance
CALGARY, ALBERTA--(Marketwired - July 5, 2017) - Seven Generations Energy Ltd.'s (TSX:VII) second quarter production averaged approximately 164,000 boe/d, while June's production is estimated to be approximately 179,000 boe/d, based on field estimates. 7G's production growth is on track to meet 2017 production guidance of 180,000 to 190,000 boe/d, which would constitute an increase of more than 50 percent from 2016. "We ended the first half with record production volumes, demonstrating the [Read more]
East Shale Basin Tactical Insights with Updated Land Sale Map
The East Shale Basin is HOT! More than half of the June 21st Alberta land sale bonus was paid for East Shale Basin acreage. Recent drilling activity, improving results and skyrocketing land prices of up to $5,000/ha are focussing attention on this emerging light oil play. With a number of important land sales and disposition packages on the horizon, parties interested in evaluating these opportunities will want to get up the learning curve fast. Canadian Discovery is leveraging its [Read more]
Fort McMurray wildfire raised fuel supply concerns in Ottawa: documents
CALGARY - Federal officials raised the possibility of relaxing competition and fuel quality rules to ensure a stable supply of fuel while the Fort McMurray wildfire raged and forced several northern Alberta oilsands projects to shut down. Documents obtained by The Canadian Press under the Access to Information Act highlight some of the options Ottawa was examining if shortages got bad enough during Canada's most expensive natural disaster, which drove more than 80,000 Fort McMurray [Read more]
Stay Up-To-Date With BOE Report News
The BOE Report keeps you informed about the latest news from the oil and gas industry in North America. Apps Always on the go? We have you covered. Download our easy-to-use app on your Android of iOS device: Social Media Follow us on our social media accounts. Click on an icon below to throw us a like/follow/whatever! Daily Digest E-mail Sign up for the BOE Report's LEGENDARY daily digest e-mail; delivered to your inbox at 8 AM Mountain time, as well as breaking news alerts as soon as [Read more]
Canada orders seizure of oil tanker carrying crude from Iraqi Kurdistan
The Federal Court of Canada has ordered the seizure of a 721,915-barrel cargo of crude from Kurdistan aboard the "Neverland" oil tanker on the request of the Iraq Oil Ministry, court documents show. The Iraq Oil Ministry has also filed a claim against commodity trading house Vitol S.A. and subsidiaries including Mansel Ltd, the charterer of the ship, and affiliate Finaval Spa di Navigazione, the owner of the ship, for $32.5 million. Iraq claims the cargo was unlawfully [Read more]
Tourmaline Updates Q2 2017 Activities
CALGARY, July 4, 2017 /CNW/ - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is pleased to provide an update on its EP activities. The Company is currently operating 10 drilling rigs and will ramp to the full 18 rig fleet during the first half of July. Frac operations are underway on 4 of the 8 pads drilled during spring break-up. Approximately 175 new wells will be tied-in during the second half of 2017, across all three core complexes. Significant production [Read more]
New Oil and Gas Jobs From BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Jul. 3 Cement & Acid Equipment Operator Trican Well Service Ltd. Medicine Hat Jul. 3 Fracturing Equipment Operator Trican Well Service Ltd. Medicine Hat Jul. 3 Coiled Tubing Equipment Operator Trican Well [Read more]
Oil eases on U.S. holiday after 8 days of gains
Oil prices fell on Tuesday, as investors booked profits on an eight-day rally that was triggered by tentative signs that a persistent rise in U.S. crude production may be slowing. Brent crude futures fell by 15 cents to $49.53 per barrel by 1138 GMT. U.S. West Texas Intermediate (WTI) crude futures were trading down 12 cents at $46.95 a barrel. The falls came after both benchmarks recovered around 12 percent from their recent lows on June 21. Many traders closed positions ahead of [Read more]
Veresen Announces Closing of Additional Power Assets
CALGARY, ALBERTA--(Marketwired - July 4, 2017) - Veresen Inc. ("Veresen") (TSX:VSN) is pleased to announce it has closed the sale of certain additional power assets such that approximately two-thirds of previously announced total proceeds have been received to date. Veresen and its counterparties on the sale of the remaining power assets continue to make progress in securing all outstanding third party approvals and Veresen remains confident the company will successfully close the sale of its [Read more]