SASKATOON, SASKATCHEWAN--(Marketwired - July 21, 2017) - Westcore Energy Ltd. ("Westcore" or the "Company") (TSX VENTURE:WTR) is pleased to announce that it has completed a non-brokered private placement (the "Private Placement") for aggregate gross proceeds of $499,950.00. An aggregate of 3,333,000 units have been issued, each at a subscription price of $0.15 per unit, with each unit consisting of one common share of the Company and one common share purchase warrant. Each whole warrant entitles [Read more]
Headlines
U.S. oil drillers cut rigs for second week since January -Baker Hughes
U.S. oil drillers cut rigs for a second week since January as crude prices have declined in recent months despite an OPEC-led effort to cut production and end a multi-year glut. Analysts, however, noted weekly declines in the rig count were likely just a brief pause in a drilling recovery expected to continue through at least 2019. Drillers cut 1 oil rig in the week to July 21, bringing the total count down to 764, General Electric Co's Baker Hughes energy services firm said in its closely [Read more]
Canada Weekly Rig Count Up 15 to 206
Western Canada’s fleet of drilling rigs increased this week to 206 actively drilling rigs according to data collected by Baker Hughes for the week of July 21. From one week ago, Alberta rig counts increased to 132 rigs from 121, the Saskatchewan rig count went down – current count at 42 from 39. Oil drilling increased to 118 rigs from 106; gas rigs increased to 88 from 85. View a full breakdown of western Canada’s rig activity. [Read more]
Husky Energy Reports Second Quarter 2017 Results
CALGARY, Alberta, July 21, 2017 (GLOBE NEWSWIRE) -- Husky (TSX:HSE) generated funds from operations of $715 million in the second quarter, leading to free cash flow of $135 million. “Despite a challenging oil price environment and planned turnarounds at the Lloydminster Upgrader and asphalt refinery, we increased funds from operations and realized another quarter of positive free cash flow,” said CEO Rob Peabody. “At the same time, investments to improve margin capture along our Integrated [Read more]
Encana delivers strong second quarter results; company expands margins, exceeds type curves, grows premium well inventory and updates guidance
CALGARY, Alberta, July 21, 2017 (GLOBE NEWSWIRE) -- Encana’s (TSX:ECA) (NYSE:ECA) performance through the second quarter has put the company well ahead in the first year of its five-year plan. Driven by strong oil and condensate growth, an increasingly liquids-weighted portfolio and lower costs, Encana significantly expanded its non-GAAP corporate margin. Core asset growth is ahead of schedule and the company increased its type curves and premium return well inventory. Encana has increased total [Read more]
“Dirty, Difficult, And Dangerous”: Why Millennials Won’t Work In Oil
Like many industries today, the oil industry is trying to sell its many job opportunities to the fastest growing portion of the global workforce: Millennials. But unlike any other industry, oil and gas is facing more challenges in persuading the environmentally-conscious Millennials that oil is "cool". During the Super Bowl earlier this year, the American Petroleum Institute (API) launched an ad geared toward Millennials, who now make up the largest generation in the U.S. labor [Read more]
Canadian Natural Resources Limited Announces Filing of Preliminary Shelf Prospectuses
CALGARY, ALBERTA--(Marketwired - July 20, 2017) - Canadian Natural Resources Limited (TSX:CNQ)(NYSE:CNQ) ("Canadian Natural" or the "Company") filed today a preliminary short form base shelf prospectus with applicable Canadian regulatory authorities and a registration statement on Form F-10 with the United States Securities and Exchange Commission (the "SEC") allowing for the future issuance, from time to time, of up to US$3 billion in debt securities (the "Debt Securities"). The Debt Securities [Read more]
NEB to reconsider B.C. natural gas pipeline jurisdiction: judge rules
VANCOUVER - The National Energy Board must reconsider whether a proposed natural gas pipeline critical to the development of the Pacific NorthWest liquefied natural gas project falls within provincial or federal jurisdiction, the Federal Court of Appeal has ruled. The judgment marks a setback for the $36-billion LNG development, which secured conditional approval from the federal government last year. "The board did not ask itself whether an arguable case for federal jurisdiction [Read more]
Jobs Coming Back To American Oilfields After Years Of Decline
Oil jobs are coming back to the U.S. after three years of mass layoffs, according to new federal employment data. Bureau of Labor Statistics data shows the oil industry added 2,500 jobs so far this year, reversing a 27-month-long decline in oil employment. The industry shed 206,000 jobs after oil prices collapsed in summer 2014. Additional hiring seems likely as U.S. hydraulic fracturing companies are now efficient enough to compete when oil prices are low, according to a new report by the [Read more]
ClearBakk Energy Services Ltd. Partners with Kemira Chemicals, Inc
Calgary, CANADA, June 29, 2017 - ClearBakk Energy Services Ltd. (“ClearBakk”) is pleased to announce they have executed a collaboration agreement with Kemira Chemicals, Inc. (“Kemira”). Under the terms of this agreement ClearBakk will be the exclusive manufacturer of equipment for the wetting and hydration of polymers for use in Chemically Enhanced Oil Recovery (CEOR) and Oil Sands markets in North and South America. ClearBakk and Kemira combine engineering and fabrication excellence [Read more]