CALGARY - Credit has started to flow more freely to Canada's battered oil and gas sector, though some executives say lenders are favouring larger and more financially secure producers. Many Canadian energy companies had their credit lines cut in recent years as crude prices crashed, with benchmark West Texas Intermediate oil prices hitting a 12-year low of US$26.05 per barrel last February. Oil prices have doubled since then as OPEC producers scale back output. "The bank [Read more]
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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 here to create an account to post jobs; it’s simple and easy to use. Feb. 20 Junior Utility Operator - Fort Saskatchewan, Alberta Roska DBO Fort Saskatchewan Feb. 18 Oil & Gas Operations/Joint Venture Accountant Razor Energy Corp. Calgary Feb. 18 Financial Analyst - [Read more]
Enbridge suspects construction in area caused pipeline leak near Edmonton
EDMONTON - Enbridge (TSX:ENB) says it believes a pipeline that leaked near Edmonton was struck by another company doing construction in the area. The pipeline company says in a news release that the incident happened Friday on its Line 2A pipeline at an industrial site in Strathcona County. It says Enbridge crews are working to clean up the release, which is contained in an excavation pit. The National Energy Board says Enbridge has reported that approximately 200 cubic [Read more]
Questerre closes $24 million private placement
CALGARY, Feb. 17, 2017 /CNW/ - Questerre Energy Corporation ("Questerre" or the "Company") (TSX,OSE:QEC) is pleased to announce that it has closed its previously reported private placement of 30.8 million Common Shares at NOK 5.00 or C$0.79 per Common Share for gross proceeds of NOK 154 million or approximately C$24 million (the "Private Placement"). The Company intends to use the net proceeds from the Private Placement to strengthen its working capital, partially financing its [Read more]
Petrus Resources Announces Increase to Previously Announced Private Placement
CALGARY, ALBERTA--(Marketwired - Feb. 17, 2017) - Petrus Resources Ltd. ("Petrus" or the "Company") (TSX:PRQ) - Petrus is pleased to announce that it has increased the size of its previously announced non-brokered private placement to up to 4,350,000 common shares of the Company ("Common Shares") at a purchase price of $2.53 per Common Share, for aggregate gross proceeds of up to $11,005,500 (the "Private Placement"). Closing of the Private Placement is expected to occur on or about February 28, [Read more]
Petrocapita Provides an Update on Proceeds of $11.952 Million Debentures
CALGARY, ALBERTA--(Marketwired - Feb. 17, 2017) - Petrocapita Income Trust (CSE:PCE.UN)(CSE:PCE.UN.CN) ("Petrocapita" or the "Trust") announces the close of an additional $427,000, for aggregate gross proceeds to date of $6,952,000 from the sale of its 8% secured convertible debentures (the "Convertible Debentures") pursuant to its previously announced private placement offering of these Convertible Debentures. The maximum amount to be raised has been increased to $15,000,000. This is in [Read more]
Canada rig count falls as drilling season begins to slow
Canada's fleet of active drilling rigs decreased by 21 this week according to data collected by Baker Hughes; 331 rigs are active this week. This is still fairly strong compared to last year around this time, when there were only 206 rigs active. Of the active rigs, 194 are drilling for oil; 137 for gas. 70% of the active rigs are in Alberta. Canada's activity levels are trending in the opposite direction compared to its southern neighbour. The United States has 751 drilling rigs active [Read more]
Here’s a map of all the orphan wells in Alberta
The Alberta Energy Regulator's recent enforcement against Lexin Resources, placed a large portion of the company's assets into the care of Alberta's Orphan Well Association(OWA). Currently, in the OWA database, there are 697 wells under reclamation and 1590 wells to be abandoned--however that number will rise by several hundred after Lexin's wells are added to the list. Here is a map of wells in Alberta with the most current data from the Orphan Well Association: OWA Reclamation Site [Read more]
Pulse Oil Corp. Provides an Update on Its Qualifying Transaction
KELOWNA, BRITISH COLUMBIA--(Marketwired - Feb. 17, 2017) - Pulse Oil Corp. ("Pulse" or the "Corporation") (TSX VENTURE:PUL.H) announces the TSX Venture Exchange (the "Exchange") has conditionally approved Pulse's proposed Qualifying Transaction as previously described in news releases dated October 13, 2016, October 18, 2016 and November 30, 2016. Pulse previously executed a definitive asset purchase agreement with Hydrate Resources Corp. ("Hydrate") on November 8, 2016 and the purchase price is [Read more]
AIMCo Announces Significant Investment in Perpetual Energy Inc.
EDMONTON, Feb. 17, 2017 /CNW/ - Alberta Investment Management Corporation ("AIMCo") is pleased to announce that it has signed a letter of commitment and a subscription agreement, on behalf of certain of its clients, to enter into a strategic financing relationship with Perpetual Energy Inc., ("Perpetual") (TSE: PMT). The transaction is anticipated to close in early March 2017. Based upon the terms of the commitment letter and the subscription agreement, the financing relationship provides for [Read more]