Western Canada’s fleet of drilling rigs declined to to a total of 209 according to data collected by Baker Hughes for the week of August 10th. From one week ago, Alberta rig counts decreased from 156 to 140. Saskatchewan's rig count remained at 46. Oil drilling went from 152 to 140; natural gas rigs decreased from 71 to 69. View a full breakdown of western Canada’s rig activity. [Read more]
Headlines
U.S. drillers add most oil rigs since May
U.S. energy companies this week added the most oil rigs since May as drillers follow though on plans to spend more on exploration and production in anticipation of higher crude prices in 2018 than recent years. Drillers added 10 oil rigs in the week to Aug. 10, bringing the total count to 869, the highest level since March 2015, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. That rig count increase occurred desite U.S. crude prices [Read more]
Granite Oil Corp. Provides Operational Update and Reports Second Quarter 2018 Financial Results, Executive Appointment and Director Retirement
CALGARY, Alberta, Aug. 10, 2018 (GLOBE NEWSWIRE) -- GRANITE OIL CORP. (“Granite” or the “Company”) (TSX:GXO)(OTCQX:GXOCF) is pleased to provide an operational update and report its financial and operational results and for the three months and six months ended June 30, 2018. Executive Appointment and Director Retirement The Company is pleased to announce that Mr. Devon Griffiths has been promoted to Chief Operating Officer. Mr. Griffiths joined Granite (formerly DeeThree Exploration Ltd.) in [Read more]
U.S. oil reserve release will not guarantee lower pump prices: analysts
NEW YORK (Reuters) - American drivers are unlikely to see prices at the pump fall if the Trump administration releases crude from the Strategic Petroleum Reserve (SPR) because U.S. oil production already is sky high, analysts said. The potential release, ahead of the U.S. midterm elections in November, would aim to bring relief to customers who have seen gasoline jump 50 cents a gallon in the past year. Even if the release temporarily sends futures contracts lower, there is no guarantee [Read more]
IEA says calm in oil markets could be short-lived
Oil markets have entered a brief period of calm but a storm might be looming later this year when new U.S. sanctions are poised to slash supplies of Iranian oil, the International Energy Agency said on Friday. "The recent cooling down of the market, with short-term supply tensions easing, currently lower prices, and lower demand growth might not last," the IEA, which oversees the energy policies of industrialised nations, said in a monthly report. Oil prices have rallied close to $80 per [Read more]
Tamarack Valley Energy Ltd. Announces Record Second Quarter 2018 Production, Increased 2018 Production Guidance and Strong Capital Efficiencies Through First Half 2018
TSX: TVE CALGARY, Aug. 9, 2018 /CNW/ - Tamarack Valley Energy Ltd. ("Tamarack" or the "Company") is pleased to announce its financial and operating results for the three and six months ended June 30, 2018. Selected financial and operational information is outlined below and should be read in conjunction with Tamarack's unaudited condensed consolidated interim financial statements ("Financial Statements") for the three and six months ended June 30, 2018 and related management's discussion and [Read more]
Eagle Energy Inc. Announces Second Quarter 2018 Results and Previously Announced Sale of Twining Assets
CALGARY, Aug. 9, 2018 /CNW/ - (TSX: EGL): Eagle Energy Inc. ("Eagle") is pleased to report its financial and operating results for the second quarter ended June 30, 2018, as well as to reiterate the previously announced sale of its Twining assets. When reflecting on Eagle's second quarter and the Twining asset sale announcement, Wayne Wisniewski, President and Chief Executive Officer, stated, "Eagle continues to execute its previously announced plan to reduce debt and corporate [Read more]
Questerre reports second quarter 2018 results
CALGARY, Alberta, Aug. 09, 2018 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on its financial and operating results for the second quarter ended June 30, 2018. Michael Binnion, President and Chief Executive Officer of Questerre, commented, “We were blindsided by the Quebec government’s decision to attempt to ban hydraulic fracturing. We recently filed a brief with the government strongly objecting to this decision. Specifically [Read more]
InPlay Oil Corp. Announces Second Quarter 2018 Financial and Operating Results and Increases Production Guidance
CALGARY, Alberta, Aug. 09, 2018 (GLOBE NEWSWIRE) -- InPlay Oil Corp. (TSX:IPO) (OTCQX:IPOOF) (“InPlay” or the “Company”) announces its financial and operating results for the three and six months ended June 30, 2018. InPlay’s condensed unaudited interim financial statements and notes, as well as management’s discussion and analysis (“MD&A”) for the three and six months ended June 30, 2018 will be available on the System for Electronic Document Analysis and Retrieval (“SEDAR”) and our [Read more]
Enerplus Announces Second Quarter 2018 Results
CALGARY, Aug. 10, 2018 /CNW/ - Enerplus Corporation ("Enerplus" or the "Company") (TSX & NYSE: ERF) is pleased to announce second quarter 2018 operating and financial results. The Company reported second quarter 2018 net income of $12.4 million or $0.05 per share. For the first six months of 2018, net income was $42.0 million, or $0.17 per share. HIGHLIGHTS Company production of 92,883 BOE per day in the second quarter Company liquids production was up 21% [Read more]