CALGARY, Jan. 2, 2019 /CNW/ - (TSX : EGL): Eagle Energy Inc. ("Eagle") provides an operational update on its North Texas development program and announces that it has entered into a forbearance agreement with its lenders. Operational Update Wayne Wisniewski, President and Chief Executive Officer of Eagle, stated, "We are pleased to report updated production for the Robinson 2H, our most recent North Texas horizontal well. The initial production rate for 30 days ("IP30") for the well was [Read more]
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Heavy crude differential narrows as Alberta oil cuts take effect
The Canadian heavy oil differential narrowed against the West Texas Intermediate (WTI) benchmark on Wednesday, as Alberta's mandated oil production cutbacks took effect:* Western Canada Select (WCS) heavy blend crude for February delivery in Hardisty, Alberta, traded on Wednesday afternoon at $12.75 a barrel below WTI crude futures , narrower than Monday's settle at $15.65 below WTI, according to Net Energy Exchange.* Light synthetic crude from the oil sands for February delivery was [Read more]
Paramount Resources Ltd. Announces Renewal of Normal Course Issuer Bid
CALGARY, Jan. 2, 2019 /CNW/ - Paramount Resources Ltd. ("Paramount" or the "Company") (TSX: POU) announces that its board of directors has approved the implementing of a normal course issuer bid ("NCIB"). A Notice of Intention to make a Normal Course Issuer Bid has been filed with, and accepted by, the Toronto Stock Exchange (the "TSX"). Paramount is implementing the NCIB as the Company's directors and management believe that, from time to time, the market price of Paramount's Class A [Read more]
Point Loma Resources Announces Rex Oil Well Completion Update, Listing of Warrants
CALGARY, ALBERTA / ACCESSWIRE / January 2, 2019 / Point Loma Resources Ltd. (TSX VENTURE: PLX) (the "Corporation" or "Point Loma") is pleased to announce the timing of the listing of warrants issued on October 25, 2018. In addition the Corporation is providing updated operational information. Highlights The Wizard Lake Rex horizontal oil well has been successfully drilled and completed with a 28 stage frac program. An average of 27 tonnes of sand per stage was delivered in the [Read more]
Pulse Oil Corp. Announces Second Well Drilling Operations Completed at Queenstown Light Oil Field
CALGARY, Jan. 2, 2019 /CNW/ - Pulse Oil Corp. ("Pulse" or the "Company") (TSX-V: PUL and PUL.WT) announces that on December 27th, 2018, drilling of Pulse's second exploration well, PUL HZ QUEENSTN 12-9-19-21 W4 ("12-9"), reached a total measured depth, as planned, of 2957m (TVD 1389m), including 1237m of lateral section within a highly porous Mannville-aged Lithic sandstone channel. The 12-9 well was Pulse's second well successfully targeting a new 3-D seismic interpretation intended [Read more]
XI Technologies: Alberta production curtailment could have unintended negative impacts for smaller producers.
Alberta’s mandatory production curtailment includes an exemption for the first 10,000 barrels of oil produced. This measure was intended to protect some smaller producers, but will it really protect them? Under the terms of the curtailment order, small companies with non-operated production could be vulnerable to the shut-in requirements and decisions of their larger working interest partners. XI’s AssetBook makes it simple and quick to review risk potential for small producers, and equally [Read more]
New Oil and Gas Jobs From BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Dec. 27 May 2019 - Engineering Student Opportunities (Various Locations) TransCanada Calgary Dec. 27 May 2019 - Business/Commerce Student [Read more]
Conservative leader says Trudeau will hike carbon tax if he wins vote in 2019
REGINA - Conservative Leader Andrew Scheer welcomed 2019 with a warning that if Canadians re-elect Justin Trudeau this year, the federal carbon tax that's going to take effect will only climb. "Canadians know what Justin Trudeau is going to do. Now that his carbon tax is here, it's only going to go up. And if he gets re-elected in 10 months, it will go up even more," Scheer said during a New Year's Day news conference in a Giant Tiger store in Regina. "This time next year I plan [Read more]
Sable Offshore Energy Project permanently shuts down after nearly 20 years
HALIFAX - A government agency says all production from the Sable Offshore Energy Project off the coast of Nova Scotia has been permanently shut down. The Canada-Nova Scotia Offshore Petroleum Board says production from all of the Sable project's fields ended on Monday, as planned. The natural gas field, about 300 kilometres southeast of Halifax, started producing in late 1999 and consists of seven offshore platforms in five different fields with 21 wells. Board spokeswoman Stacy [Read more]
Top 10 Canadian Oil and Gas Stories of 2018
2018 began as a promising year for Canada's oil and gas industry. After a 2 1/2 year industry downturn, oil prices appeared to be heading in a positive direction. Ultimately, however, prices took a significant nosedive in Canada due to a severe supply glut in the industry. Most recently, WTI has also plummeted, wiping out over a year of gains in 2 short months. Here's the top 10 news-worthy stories that affected Canada's oil and gas industry over the past year: 10. University of Alberta [Read more]