CALGARY, Alberta, Nov. 29, 2018 (GLOBE NEWSWIRE) -- Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) (“Bonterra” or the “Company”) today announces an adjustment to its monthly dividend to $0.01 per share commencing with the November 2018 dividend payable December 31, 2018. In response to the recent significant increase in the Canadian oil price differentials for light oil, and deteriorating West Texas Intermediate (“WTI’) prices, Bonterra is taking necessary steps to protect its [Read more]
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LNG Canada gets another buyer as Vitol inks supply deal with Petronas
LNG Canada, the $30 billion liquefied natural gas (LNG) export project, has bagged another client after project shareholder Petronas signed an initial sales deal with trading house Vitol. Royal Dutch Shell decided in October to construct the export terminal. It was the first major investment decision in a new North American LNG export project for two years and was expected to launch a new wave of such projects in the region. Petronas, the Malaysian oil and gas company that bought a 25 [Read more]
Pengrowth Provides Lindbergh Heavy Oil Differential Update for October and November With More Than 90% of Production Protected From Spot Pricing
Lindbergh On Track to Exit 2019 at 19,000 Barrels Per Day with November Month-to-Date Production That Has Averaged an Estimated 18,700 Barrels Per Day CALGARY, Alberta, Nov. 29, 2018 (GLOBE NEWSWIRE) -- Pengrowth Energy Corporation (“Pengrowth”) (TSX:PGF, OTCQX:PGHEF), today reported the realized pricing and differentials for Lindbergh diluted bitumen (“Dilbit”) for the months of October and November. For the remainder of 2018, Pengrowth’s market access strategy includes two apportionment [Read more]
Great Plains Seismogenic Study: whose fault is it?
PFS Interpretations Ltd. is offering a study investigating Upper Cretaceous faults and fractures that occur beneath the Great Plains of North America. “Many Upper Cretaceous hydrocarbon bearing reservoirs can be interpreted with simple models based upon volcanic eruptions and earthquakes. In this study we present evidence showing how these reservoirs have been affected by these faults and fractures during the Late Cretaceous,” says Dr. Andy St-Onge, who first noticed the faults about 10 years [Read more]
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Ensign and Trinidad agree to replace Trinidad board; Ensign controls approximately 66.73% of Trinidad
Surpassing the 66 2/3% mark ensures that Ensign will be able to complete a subsequent acquisition transaction to acquire the remaining Trinidad Shares Ensign and Trinidad agreed to replace Trinidad board of directors Precision Drilling arrangement agreement with Trinidad terminated Shareholders who have not tendered can tender today by contacting Kingsdale Advisors at 1-866-581-1514 or by e-mail at contactus@kingsdaleadvisors.com CALGARY, Nov. 28, 2018 /CNW/ - Ensign Energy Services [Read more]
New Brunswick legislators set to vote on partial lifting of fracking moratorium
FREDERICTON - The potential for New Brunswick's new Tory government to partially lift a province-wide moratorium on fracking for natural gas should be known within days. The issue has been a contentious one, with much political jousting as the new Tory minority tries to lift the moratorium in the Sussex area, where Corridor Resources has been in gas production for 20 years. The Tories have introduced an amendment to their throne speech to urge the government to move ahead with gas [Read more]
Alberta to buy rail cars; expects deal within weeks
Alberta is in talks to buy rail cars to transport 120,000 barrels per day of crude oil and expects a deal to conclude within weeks, Premier Rachel Notley said on Wednesday, as the energy-rich province takes actions to move oil stuck in the region because of a lack of pipeline capacity. Notley, who says the cars are needed to help deal with stranded oil that has slashed the price of Alberta oil, told a business audience she was disappointed that the federal government was not helping fund the [Read more]
Becca Polak: How Alberta can get oil and gas to market on its own terms
Born and raised in Alberta, I have spent my entire adult life living in Calgary. For most of that time, I worked in business development marketing innovative technologies to oil and gas companies. Anyone who works in the oil and gas industry knows the industry experiences booms and busts. But this time it is different. Light oil in Edmonton is $26.94 USD per barrel, a discount of $27. Heavy crude is trading at $18.20 USD a barrel, a $34 discount. This is an unacceptable situation. Everyone [Read more]
Steep oil price discounts place oilpatch credit ratings in danger, warns DBRS
CALGARY - Credit rating agency DBRS Ltd. is warning that some of the big Canadian oil and gas companies it covers could face downgrades in their credit scores if current steep price discounts for their products continue. Such rating cuts could affect the companies' ability to access credit to fund growth and potentially increase what they pay to service their debt. Energy senior vice-president Victor Vallance of DBRS says the wide difference between oil prices in Western Canada and on [Read more]