CALGARY, March 11, 2019 /PRNewswire/ - Pulse Oil Corp. ("Pulse" or the "Company") (TSX-V: PUL and PUL.WT) is happy to announce that the Company has spudded the first of two new wells within Pulse's Bigoray assets (PUL 100% W.I.). The drilling of each well is expected to take approximately 18 days and Pulse will drill back to back from an existing well site which will become the site of Pulse's central EOR facility. If the wells are successful as anticipated, Pulse expects completion and [Read more]
Headlines
Upcoming CAPL Courses and Lunch & Learns
Here is the upcoming list of courses offered by CAPL. For more information, click on a course link below or visit landman.ca Date Course Category Status Mar 12 2019 Acquisitions & Despositions - Technical & Operations *New Course Acquisitions and Divestments open Mar 19 2019 Constructive Conflict Management (PSL®) Negotiations and Business Skills open Mar 26 2019 Professional Ethics: Theory and Application Negotiations and Business [Read more]
Enbridge pipeline delay spooks traders in long-term Canada crude market
North American energy traders are reluctant to take up long-term positions on Canadian crude price moves, preferring to stick to spot deals, as uncertainty around government intervention in the market grows following delays to a critical pipeline project. Enbridge Inc unexpectedly said earlier this month its Line 3 oil pipeline will be delayed until the second half of 2020, dealing another blow to the oil-rich province of Alberta, which is struggling with long-running congestion on export [Read more]
Canada Weekly Rig Count Down 22 to 189
Western Canada’s fleet of drilling rigs decreased by 22 rig to a total of 189 according to data collected by Baker Hughes for the week of March 8th. From last Friday, Alberta rig counts went from 145 to 137. Saskatchewan's rig count from 48 to 33. Oil drilling went from 140 to 118; natural gas rigs remained at 71. View a full breakdown of western Canada’s rig activity. [Read more]
International Arbitration Tribunal Orders Venezuela to Pay ConocoPhillips $8.7 Billion for Unlawful Expropriation of Company’s Oil Investments
HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) announced today that an international arbitration tribunal constituted under the auspices of the International Centre for Settlement of Investment Disputes (ICSID) has unanimously ordered the government of Venezuela to pay the company the amount of $8.7 billion in compensation for the government’s unlawful expropriation of ConocoPhillips’ investments in Venezuela in 2007, plus interest. The ICSID tribunal ruled in 2013 that the [Read more]
Norway’s US$1 trillion fund to dump oil and gas shares, including Canadian names
STAVANGER, Norway - Norway's US$1-trillion wealth fund, the biggest of its kind in the world, will begin dumping shares in oil and gas companies including some Canadian names, but stopped short of barring major producers like Suncor, ExxonMobil and Chevron. The move was hailed by environmental activists as a sign that the global economy is increasingly moving away from fossil fuels toward cleaner energy. The financial impact, however, may be relatively limited. The move will [Read more]
Line 3 pipeline delays make oilsands expansion unlikely, MEG Energy says
CALGARY - The CEO of MEG Energy Corp. says a one-year delay in Enbridge Inc.'s Line 3 pipeline replacement project makes it highly unlikely it will approve an option to spend about $75 million to complete an expansion of its Christina Lake oilsands project in northern Alberta. Derek Evans says about 60 per cent of the $275-million cost of the expansion has already been invested and it will take about a year to bring into production once approved, but there's no point in doing so if [Read more]
Salmon habitat to recover from Trans Mountain pipeline work within 2 years: DFO
VANCOUVER - Work on a Trans Mountain pipeline crossing in a British Columbia stream altered habitat for young salmon, but the creek is expected to return to normal in one to two years, says Fisheries and Oceans Canada. Two biologists with the department visited Stewart Creek in Chilliwack on Jan. 30 after receiving a complaint from Mike Pearson, a biologist with 30 years of experience who raised concerns about the work done by Trans Mountain Corp. Pearson said in January that the [Read more]
Yangarra Announces 2018 Year End Financial and Operating Results
CALGARY, March 7, 2019 /CNW/ - Yangarra Resources Ltd. ("Yangarra" or the "Company") (TSX:YGR) announces its financial and operating results for the year ended December 31, 2018. 2018 Highlights Average Production of 9,425 boe/d an increase of 64% from 2017. Oil and gas sales were $134 million with funds flow from operations of $82 million ($0.97 per share - basic). Adjusted EBITDA (which excludes changes in derivative financial instruments) was $82 million ($0.97 per share - [Read more]
MEG Energy reports record operational results for 2018
All financial figures in Canadian dollars ($ or C$) unless otherwise noted CALGARY, March 7, 2019 /CNW/ - MEG Energy Corp. (TSX:MEG, "MEG") today reported full-year 2018 results "While 2018 saw strong operational successes, the challenging commodity price environment, particularly during the fourth quarter, hindered bitumen realizations and adjusted funds flow for the company. Notwithstanding commodity price volatility and significant organizational changes, MEG's solid foundation remains [Read more]