Western Canada’s fleet of drilling rigs decreased by 28 rig to a total of 161 according to data collected by Baker Hughes for the week of March 15th. From last Friday, Alberta rig counts went from 137 to 116. Saskatchewan's rig count from 33 to 27. Oil drilling went from 118 to 98; natural gas rigs went from 71 to 63. View a full breakdown of western Canada’s rig activity. [Read more]
Headlines
Point Loma Resources Announces 2018 Year-End Reserves and Operational Update
Calgary, Alberta, March 14, 2019: Point Loma Resources Ltd. (TSX VENTURE: PLX) (the "Corporation" or “Point Loma”) is pleased to report the results of its 2018 year-end reserves as evaluated by McDaniel and Associates Ltd. (“McDaniel”) and provide an update on operations. Highlights: Proved producing reserves increased 35 percent year over year. Total proved plus probable (“2P”) reserves of 5,284 mboe and proved (“1P”) reserves of 2,967 mboe for the Corporation, an increase of 19 [Read more]
Imperial ramps down Aspen oil sands project execution
CALGARY, Alberta--(BUSINESS WIRE)--Imperial said today it has slowed the pace of development of its Aspen in situ oil sands project given market uncertainty stemming from Alberta government intervention and other industry competitiveness challenges. Imperial’s view remains that free markets work and intervention sends a negative message to investors about doing business in Alberta and Canada. The company remains concerned about the unintended consequences of the government’s decision to [Read more]
What is the future for Canada’s Natural Gas Resources?
In an increasingly natural gas focused world, will Canada be able to take advantage of its resources in the global marketplace? Join leaders and experts from government, industry, the regulatory sector and academia, as they discuss the opportunities and challenges, both domestic and international. Natural Gas World, in partnership with the Canadian Gas Association and the BOE Report, presents “Canadian Gas Dialogues”. The Canadian Gas Dialogues conference will take place in Calgary on April [Read more]
IEA sees oil market flipping into deficit in second quarter
The oil market will flip into a modest deficit from the second quarter of this year, with OPEC possessing a hefty supply cushion to prevent any price rally in case of possible supply disruptions, the International Energy Agency said on Friday.The IEA, which coordinates the energy policies of industrialised nations, kept its forecast of growth in global oil demand this year unchanged at 1.4 percent, or 1.4 million barrels per day (bpd).Solid growth in non-OPEC oil output led by the United States [Read more]
CAODC Annual Luncheon (March 29, 2019 in Calgary, AB)
The Luncheon is the Association's most significant annual event and represents an opportunity to connect with your fellow CAODC members. We’re happy to announce Ellis Ross, MLA for Skeena and former Chief Councilor of the Haisla Nation, as our keynote speaker, as well as MP Shannon Stubbs, and Mark Milke as Fireside Chat guests. To register, click here. For sponsorship opportunities, click here. [Read more]
Bellatrix Announces 2018 Year End Reserves Highlighted by 13% Reserve Growth and Low Cost Reserve Additions
TSX: BXE CALGARY, March 14, 2019 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix" or the "Company") (TSX: BXE) announces 2018 year end reserves, highlighted by 13% reserve growth and low cost reserve additions. Reserves at December 31, 2018 were independently evaluated by InSite Petroleum Consultants Ltd. ("InSite"). The evaluation encompasses 100% of Bellatrix's oil and gas properties and was prepared in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas [Read more]
Zargon Oil & Gas Ltd. Provides 2018 Fourth Quarter and Full Year Financial Results
CALGARY, Alberta, March 14, 2019 (GLOBE NEWSWIRE) -- Zargon Oil & Gas Ltd. (“Zargon” or the “Company”) (TSX:ZAR) has released its 2018 fourth quarter and full year financial results. Highlights from the fourth quarter and year ended Dec. 31, 2018 are provided below: HIGHLIGHTS FROM THE FOURTH QUARTER AND YEAR ENDED DECEMBER 31, 2018 For calendar 2018, funds flow was a negative $0.54 million (a negative $0.02 per basic share) compared to funds flow from operating activities of $5.99 [Read more]
Bellatrix Exploration Ltd. Announces Fourth Quarter 2018 and Year End Financial and Operating Results
TSX: BXE CALGARY, March 14, 2019 /CNW/ - Bellatrix Exploration Ltd. ("Bellatrix", "we", "us", "our" or the "Company") (TSX: BXE) announces its financial and operating results for the fourth quarter and year ended December 31, 2018. This press release contains forward-looking statements. Please refer to our cautionary language on forward-looking statements and the other matters set forth at the end of this press release and the beginning of the Management's Discussion and Analysis (the [Read more]
LNG Canada expansion to be decided by 2025
Royal Dutch Shell and its partners building a massive liquefied natural gas (LNG) export terminal in Western Canada will decide by 2025 whether to double its capacity, the head of the project said.The $31 billion LNG Canada project last October became the first major project in five years to be approved, with first exports of the super-chilled fuel planned for 2025. The second phase of the project will include two new processing lines known as trains that will double the plant's [Read more]