CALGARY, Alberta, Jan. 16, 2019 (GLOBE NEWSWIRE) -- Zargon Oil & Gas Ltd. (“Zargon” or the “Company”) (TSX:ZAR) has re-engaged Macquarie Capital Markets Canada Ltd. as financial advisor to assist in seeking outcomes that will maximize value for the Company and its stakeholders. These outcomes may include a corporate merger, sale, recapitalization or reorganization. Zargon’s long-life, low-decline oil exploitation assets have significant upside potential in a period of prolonged higher oil [Read more]
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Marksmen Announces Operational Update
CALGARY, Alberta, Jan. 16, 2019 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (“Marksmen” or the “Company”) is a 60% working interest owner in the Leaman #1horizontal well operated by Hocking Hills Energy and Well Services LLC, in Hocking County, Ohio. In a press release dated December 19, 2018, Marksmen announced that a new horizontal/lateral leg paralleling the original well bore was successfully drilled at the Leaman #1 horizontal well. The well has recently been equipped with tanks, a pumping [Read more]
Peyto Announces Strategic Three Year Plan
CALGARY, Alberta, Jan. 16, 2019 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. ("Peyto” or the “Company") announces a three year strategic plan to address the natural gas price crisis currently affecting the entire Alberta natural gas market and Canadian natural gas producers. The Board of Directors of Peyto has approved a plan to enhance shareholder value by; investing in several strategic longer-term initiatives, protecting the Company’s balance sheet through the near term [Read more]
Alberta crude oil curtailments remain unchanged despite price recovery
CALGARY - Alberta Energy Minister Marg McCuaig-Boyd says the province is leaving its oil curtailment levels at 325,000 barrels per day for now despite discounts for western Canadian crude that have narrowed to three-and-a-half-year lows. According to Net Energy Exchange, the difference between bitumen-blend Western Canadian Select and New York-traded West Texas Intermediate was about US$8.25 per barrel on Wednesday, the last day of the trading cycle for barrels to be delivered in [Read more]
Clearview Provides Operations Update
Wilson Creek Cardium horizontal well (85% working interest) achieves IP120 of 243 barrels per day of oil ("bopd") – ahead of type-curve expectations; Windfall Bluesky horizontal well (100% working interest) achieves restricted IP30 of 102 barrels per day of oil with a current 14-day average of 198 bopd; and Divestment of minor, non-core assets. CALGARY, Jan. 16, 2019 /CNW/ - Clearview Resources Ltd. ("Clearview" or the "Company") is pleased to announce the following [Read more]
Kinder Morgan Canada Limited Declares Dividend and Announces Results for Fourth Quarter of 2018
Restricted Voting Shareholders Receive $1.2 Billion Return of Capital Distributions CALGARY, Jan. 16, 2019 /CNW/ - The Kinder Morgan Canada Limited (TSX: KML) board of directors has declared a dividend for the fourth quarter of 2018 of $0.1625 per split-adjusted restricted voting share ($0.65 annualized), payable on February 15, 2019, to restricted voting shareholders of record as of January 31, 2019. KML's restricted voting share dividends are eligible dividends for Canadian income tax [Read more]
Alberta’s oil cuts offer lifeline to producers but create new problems
Alberta's OPEC-style decision to force production cuts is benefiting oil companies with higher prices, but it is also pushing capital elsewhere and threatens to undermine booming crude-by-rail shipments. After Alberta cut 325,000 barrels per day (bpd) starting this month, the discount on Canadian heavy oil compared to benchmark U.S. crude oil shrank to less than $7 per barrel from more than $40 in October, providing relief for producers. But drilling activity has dropped sharply in the [Read more]
XI Technologies: New estimate pegs oil and gas liabilities at over $59 billion for western provinces
Each week, XI Technologies scans their unique combination of enhanced industry data to provide trends and insights that have value for professionals doing business in the WCSB. If you'd like Wednesday Word to the Wise delivered directly to your inbox, subscribe here XI Technologies Inc. recently performed an analysis of provincial oil and gas liabilities for Alberta, Saskatchewan, and British Columbia and the numbers might surprise some. The analysis was performed by XI’s data specialists [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. Posting Date Job Title Company Location Jan. 15 Lead Process Engineer ACCEL Energy Limited Calgary Jan. 15 Start-up and Commissioning Gas Plant Operators Roska DBO Grande Prairie Jan. 15 Field [Read more]
Tourmaline Reaffirms 2019 Guidance and Reduces Capital Spending
CALGARY, Jan. 15, 2019 /CNW/ - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is pleased to update 2019 guidance and ongoing EP activities. PRODUCTION UPDATE 2019 average production guidance of 300,000 boepd, representing 12% year-over-year growth, remains unchanged. A 1H 2019 average production range of 290,000-300,000 boepd and a 2H 2019 average production range of 310,000-320,000 boepd are forecast. Current production is within the 1H 2019 guidance range of [Read more]