CALGARY, Alberta, Jan. 15, 2019 (GLOBE NEWSWIRE) -- Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) has closed the previously announced Leismer Infrastructure Transaction with Enbridge Inc. for $265 million cash consideration. Transaction proceeds are approximately 50% of Athabasca’s market capitalization and significantly bolster the Company’s liquidity, reduce net debt and improve financial resiliency. Leismer’s cost structure remains competitive with other top tier oil [Read more]
Headlines
BP scales back exploration plans off N.S., gives up half its offshore area
HALIFAX - BP Canada is scaling back its oil and gas exploration plans off Nova Scotia, giving up half the offshore area included in its exploration licence. The Canada-Nova Scotia Offshore Petroleum Board says the energy giant is surrendering 50 per cent of the area included in its licence — a consolidation of four offshore parcels roughly 300 kilometres southeast of Halifax. The move comes after BP failed to drill four wells within the first phase of its exploration licence, required for [Read more]
Tamarack Valley Energy Ltd. Announces 2019 Guidance and Record Fourth Quarter 2018 Production
TSX: TVE CALGARY, Jan. 15, 2019 /CNW/ - Tamarack Valley Energy Ltd. ("Tamarack" or the "Company") is pleased to announce its 2019 capital budget, associated guidance and an operational update. Incorporating December field estimates, the Company achieved record production of approximately 24,780 boe/d in Q4/18 with an oil and natural gas liquids ("NGL") weighting of approximately 66%, in line with its exit guidance range of 24,500 - 25,000 boe/d (65-67% oil and NGL), while spending [Read more]
Canada picks an international role model but does it have to be Venezuela?
Two countries in the modern age seem to despise their resource sector, or their elite leadership does anyway. Most, if not all, other countries are proud of theirs. It is not hard to see why most nations cherish their natural bounty of resources. There is something elementally important about a nation having more of any given raw material than they actually need at present. Ones that lack sufficient natural resources are often skittish and paranoid, roughly speaking, because they are beholden [Read more]
Bellatrix Announces a Fourth Quarter 2018 Operational Update and 2019 Capital Budget
CALGARY, Alberta, Jan. 15, 2019 (GLOBE NEWSWIRE) -- Bellatrix Exploration Ltd. (“Bellatrix” or the “Company”) (TSX, NYSE: BXE) announces a fourth quarter 2018 operational update with full year average volumes exceeding guidance, and its 2019 capital budget designed to deliver stable corporate production volumes, supported by strong commodity price risk management and market diversification contracts. 2018 Production Volumes Exceed Full Year Average Guidance Bellatrix drilled and or [Read more]
Crescent Point Announces 2019 Budget and Quarterly Dividend
CALGARY, Jan. 15, 2019 /CNW/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX and NYSE: CPG) is pleased to announce its 2019 budget. KEY HIGHLIGHTS Disciplined and returns focused 2019 capital budget of $1.20 to $1.30 billion. Maintaining annual average production at 170,000 to 174,000 boe/d, net of dispositions executed in 2018. Approved a share repurchase program given the Company's current share price versus its fundamental value. Excess cash flow to be [Read more]
4 years after vetoing Keystone XL, Barack Obama’s upcoming Calgary visit rubs salt in the wound
Yesterday it was announced former United States President Barack Obama will be speaking at the Saddledome in Calgary in less than 2 months. His March 5th speech comes almost exactly 4 years after vetoing TransCanada's Keystone XL pipeline project. His upcoming arrival serves as a difficult reminder of the severe damage President Obama inflicted on Alberta's oil and gas industry. 4 years after his veto of Keystone XL, and his tarnishing Alberta oil's reputation, we have seen just how much [Read more]
Critical Control Energy Services is hosting an exclusive Flow and Corrosion Modeling training session with Bich Nguyen
Bich has over 30 years of industry experience as a Metallurgical Engineer. During his years of tenure as the Head Corrosion Engineer at Shell Canada, Bich oversaw pipeline and asset integrity at Shell Canada with a focus on pipeline corrosion modeling, mitigating and monitoring. He has led international Pipeline Corrosion Mechanisms, Mitigation and Monitoring Seminars since 1999. Bich has published over 16 papers throughout his accomplished career and was also involved in the refinement of [Read more]
Oilsands Acquisition Opportunity
Bounty Developments Ltd. (“Bounty”) is soliciting cash offers for its 100% working interest, unencumbered, in 46 sections (29,440 acres) of contiguous oil sands rights (4 oilsands leases, expiring in October, 2026 and February, 2027 respectively). Bounty 2D Proprietary Seismic is also available as part of deal. Click here to view additional information on Bounty’s Oilsands Acquisition Opportunity Highlights include: 150 km of 2D Seismic on lands (including the 123 km of seismic shot [Read more]
A new energy story is rising to dominate headlines in 2019 – LNG development
Royal Dutch Shell was quoted in Reuters on Oct 2, 2018 saying it would export LNG from the west of Canada by 2025 after approving the C$40 billion LNG Canada project capable of initially producing 14 million tonnes a year…. “LNG Canada’s FID ... (signals) the appetite to invest in LNG is back,” said Saul Kavonic, an energy researcher at Credit Suisse. With prices almost tripling from 2016 lows to over $11 per mmBtu as demand gathers steam, the industry has regained confidence and is preparing [Read more]