CALGARY, Alberta, Nov. 02, 2018 (GLOBE NEWSWIRE) -- Marksmen Energy Inc. (“Marksmen” or the “Company”) announces that it has completed the first closing of its previously announced non-brokered private placement. The Company issued 2,393,335 units (the “Units”) of Marksmen at a price of $0.12 per Unit for aggregate gross proceeds of $287,200 (the “Offering”). Each Unit is comprised of one (1) common share (“Common Share”) and one-half of one (1/2) share purchase warrant (“Warrant”) of Marksmen. [Read more]
Headlines
Jim Ellis resigns as AER president and Chief Executive Officer
The Alberta Energy Regulator (AER) announced today that Jim Ellis, president and Chief Executive Officer, will resign from the organization, effective January 31, 2019. Mr. Ellis joined the AER in 2013 as the first CEO for the newly-formed regulator. Mr. Ellis worked with the Government of Alberta and the AER Board of Directors to build the new regulator, merging the regulatory functions of the former Energy Resources Conservation Board with those of former Environment and Sustainable [Read more]
Heavy crude discount narrows slightly after output cuts
The Canadian heavy oil differential narrowed slightly against the West Texas Intermediate (WTI) benchmark on Friday, following production cuts, but remained within range of historically wide levels as output surpasses transport capacity: * Western Canada Select (WCS) heavy blend crude for December delivery in Hardisty, Alberta, was trading Friday afternoon at $44.20 a barrel below WTI crude futures , compared with Thursday's settle of $45, according to Shorcan Energy brokers. * Light [Read more]
U.S. oil drillers cut rigs for first week in four
The U.S. oil drilling rig count declined this week for the first time in four weeks, although the rig count held close to its highest in over three years as production surges to record highs and some companies forecast even higher output this year. Drillers cut one oil rig in the week to Nov. 2, bringing the total count down to 874, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. The U.S. rig count, an early indicator of future output, [Read more]
Canada Weekly Rig Count Down 2 to 198
Western Canada’s fleet of drilling rigs increased to a total of 200 according to data collected by Baker Hughes for the week of Novmeber 2nd. From one week ago, Alberta rig counts went down 2 to 139. Saskatchewan's rig count decreased from 38 to 37. Oil drilling went from 124 to 121; natural gas rigs increased from 76 to 77. View a full breakdown of western Canada’s rig activity. [Read more]
Chevron Canada Limited Announces Execution of Additional Midstream Services for Development of the Duvernay Play
CALGARY, Nov. 2, 2018 /CNW/ - Chevron Canada Limited today announced it has executed agreements with Pembina Pipeline Corporation for additional midstream services in support of Chevron's initial development program on its Duvernay leaseholdings in west-central Alberta. These agreements will increase the gross midstream capacity for Chevron's Duvernay development to 200 million cubic feet per day of natural gas, 10,000 barrels per day of propane-plus liquids and 50,000 barrels per day of [Read more]
GuildOne Wins Prestigious ASTech Award for Outstanding Achievement in Tech
Calgary-based advanced data solutions and business intelligence provider recognized for innovative application of blockchain and machine intelligence in Alberta energy sector CALGARY, Alberta, Nov. 02, 2018 (GLOBE NEWSWIRE) -- GuildOne Inc. (GuildOne) is proud to announce that it has been selected as the 2018 winner of the ASTech award for Outstanding Achievement in Information and Communications Technology. “This award is a true honour,” said James Graham, GuildOne CEO and President. “It is [Read more]
New Brunswick’s next premier is a fiscal hawk and former Irving Oil executive
The man poised to become New Brunswick's next premier has a well-earned reputation as a tight-fisted fiscal manager whose resume includes 33 years as a senior executive working for one of Canada's richest families: the Irving clan. Progressive Conservative Leader Blaine Higgs, a 64-year-old engineer and former finance minister, was hired by Irving Oil a week after he graduated from the University of New Brunswick. He was eventually promoted to director of distribution, overseeing oil [Read more]
AER Statement on Industry Liabilities
Several media outlets have reported liability estimates provided by the AER in presentations to industry. We want to apologize for the concern and confusion that this information has caused. The numbers are staggering – $260 billion in total liability, which is $200 billion more than we have consistently reported. This particular estimate was created for a presentation to try and hammer home the message to industry that the current liability system needs improvement. While the message to [Read more]
Baytex Reports Strong Q3 2018 Results and Significant Duvernay Light Oil Discovery
CALGARY, Alberta, Nov. 02, 2018 (GLOBE NEWSWIRE) -- Baytex Energy Corp. ("Baytex") (TSX, NYSE: BTE) reports its operating and financial results for the three and nine months ended September 30, 2018 (all amounts are in Canadian dollars unless otherwise noted). “Our strategic combination has repositioned Baytex as a North American crude oil producer with strong free cash flow and an improved balance sheet. We have completed the integration while delivering excellent drilling results, [Read more]