CALGARY - Two Calgary-based companies that provide services to the oil and gas industry are planning to combine forces through an exchange of shares and debt valued at $637 million. Trican Well Service Ltd. (TSX:TCW) would exchange 1.7 of its common shares for each share of Canyon Services Group Inc. (TSX:FRC) under the friendly deal, which is supported by the boards of both companies. Both companies say the offer is worth $6.63 per Canyon share, based on Trican's stock price at [Read more]
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Georox Announces Year-End NI51-101 Reserves to 696,000 Barrels Of Oil Equivalent
KELOWNA, BC, March 22, 2017 /CNW/ - Georox Resources Inc. ("Georox" or the "Corporation") (GXR:TSX-V; OF6A:FRA) is pleased to provide information on its oil and gas reserves as of December 31, 2016 as evaluated in a report (the "Report") by the Corporation's independent reserve engineering firm, Sproule Unconventional Limited ("Sproule"). The reserves were evaluated in accordance with National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities ("NI 51-101") and the Canadian Oil [Read more]
Sunshine Oilsands Ltd. Announcement of Results for the Fourth Quarter and the Year Ended December 31, 2016 and an Update on West Ells Progress
HONG KONG, CHINA and CALGARY, ALBERTA--(Marketwired - March 22, 2017) - Sunshine Oilsands Ltd. is pleased to announce its financial results for the fourth quarter and year ended December 31, 2016 and an update on West Ells progress. Please see the attached announcement for further information. Sunshine Oilsands Ltd. Announcement of Results for the Fourth Quarter and the Year Ended December 31, 2016 and an Update on West Ells Progress Sunshine Oilsands Ltd. (the "Corporation" or "Sunshine") [Read more]
Tidewater Midstream and Infrastructure Ltd. Announces First Quarter 2017 Dividend and Corporate Update
CALGARY, AB--(Marketwired - March 21, 2017) - Tidewater Midstream and Infrastructure Ltd. (TSX VENTURE: TWM) (the "Corporation") is pleased to announce that its Board has declared a dividend for the first quarter 2017 of $0.01 per common share payable on or about April 28, 2017 to shareholders of record on March 31, 2017. The ex-dividend date is March 29, 2017. This dividend is an eligible dividend for the purpose of the Income Tax Act (Canada). The Corporation is also pleased to report that it [Read more]
RMP Energy Provides Operations Update Highlighting Elmworth Delineation Success, Updates Market Guidance and Reports Year-End Reserves and Fiscal 2016 Financial Results
CALGARY, ALBERTA--(Marketwired - March 21, 2017) - RMP Energy Inc. ("RMP" or the "Company") (TSX:RMP) is pleased to provide an update on its first quarter 2017 field operations and to announce its year-end independent reserves evaluation in addition to its financial results for the fourth quarter and fiscal year ended December 31, 2016. OPERATIONS UPDATE Waskahigan Montney, West Central Alberta At Waskahigan in the first quarter of 2017, RMP successfully drilled and completed a 100% [Read more]
Questfire Announces December 31, 2016 Corporate Reserves
CALGARY, ALBERTA--(Marketwired - March 21, 2017) - Questfire Energy Corp. (the Corporation or Questfire) (TSX VENTURE:Q.A) is pleased to announce the results of its independent reserves evaluation effective as of December 31, 2016 as prepared by GLJ Petroleum Consultants Ltd. (GLJ), the Corporation's independent qualified reserves evaluator. The evaluation was prepared in accordance with reserves definitions, standards and procedures contained in National Instrument 51-101 - Standards of [Read more]
Saudi Arabia ‘Losing Its Grip’ On Global Oil Supply
Saudi Arabia is increasingly unable to control the global oil supply because of rising energy production in the U.S., Russia and Iran. “Saudi Arabia is under extraordinary pressure both internally and externally,” Dr. Jean-Marc Rickli, a risk analyst at the Geneva Centre for Security Policy, told The Wall Street Journal. The world’s biggest crude exporter is conceding ground to its rivals to enact a steep oil production cut to prop up the low global price of oil. This is causing the Kingdom to [Read more]
Birchcliff Energy Ltd. Announces Sales Process for Charlie Lake Light Oil Resource Play
CALGARY, ALBERTA--(Marketwired - March 21, 2017) - Birchcliff Energy Ltd. ("Birchcliff") (TSX:BIR) today announced that it will pursue the sale of its oil and natural gas properties and related assets on the Charlie Lake Light Oil Resource Play located in the Peace River Arch of Alberta (the "Assets"). "The successful growth of our Montney/Doig Resource Play has resulted in us not allocating any significant capital to our Charlie Lake Light Oil Resource Play. Accordingly, we have chosen to [Read more]
Saturn Oil + Gas Inc. Announces Viking Acquisition and Appointment of New Members to the Board of Directors
SASKATOON, SASKATCHEWAN--(Marketwired - March 21, 2017) - Saturn Oil + Gas Inc. ("Saturn" or the "Company") (TSX VENTURE:SMI)(FRANKFURT:SMK) is pleased to announce that it has closed a transaction within the Viking fairway near Kindersley, Saskatchewan. Under the terms of the transaction, Saturn purchased 640 acres of Viking oil land in the greater Kindersley area from a local private operator. This land is highly prospective for increased Viking light oil production through horizontal [Read more]
Not all multinationals are fleeing the oil sands, and the ones that are have other monkeys on their backs
In a series of recent transactions, multinational oil companies have sold off their positions in Canada’s oil sands. There has been all sorts of speculation about what this means, because that is what we do – we have to assign meaning. Some were angry at Shell, some were excited that it meant more of Canada’s resources in Canadian hands, and some seized on the transactions as proof that the provincial government is ruining everything. These little viewpoints tend to be over dramatic because [Read more]