TerraPro enters Ontario with a host of access matting services. Mount Albert, Ontario – November 2018TerraPro Inc, Canada’s second largest remote access matting company has officially opened their doors to the Ontario market with the creation of TerraPro East Inc. Through TerraPro East Inc, the company now offers access matting sales, rentals, and logistics to energy and utility companies within Ontario. They have also finalized an agreement with the International Union of Operating [Read more]
Headlines
Questerre Doubles Kakwa Land Position
CALGARY, Alberta, Nov. 16, 2018 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today that it has completed a major expansion of its core acreage in the Kakwa area. The Company has acquired 34 (17 net) sections for the Montney Formation immediately offsetting its producing acreage at Kakwa and its acreage at Kakwa North. The lands are subject to an industry standard gross overriding royalty. Subject to the drilling of additional wells [Read more]
Questerre reports third quarter 2018 results
CALGARY, Alberta, Nov. 15, 2018 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on its financial and operating results for the third quarter ended September 30, 2018. Michael Binnion, President and Chief Executive Officer of Questerre, commented, “We were very pleased with the results from the first farm-in well at Kakwa North. The second well is being tested and a third farm-in well could spud early next year. By this time next year, [Read more]
Traverse Energy Announces 2018 Third Quarter Results
CALGARY, Alberta, Nov. 15, 2018 (GLOBE NEWSWIRE) -- Traverse Energy Ltd. (“Traverse” or “the Company”) (TSX Venture: TVL) presents financial and operating results for the three and nine months ended September 30, 2018. Three months ended Sept. 30, Nine months ended Sept. 30, Highlights (unaudited) 2018 2017 2018 2017 Financial ($ thousands, except per share amounts) Petroleum and natural gas revenue 1,769 2,173 5,526 7,814 Cash from operating [Read more]
Can US shale oil meet the IEA’s supply gap in 2025? A message of hope for the industry
In it’s World Energy Outlook 2018 issued on November 13, the IEA stated US Shale will need to add another "Russia" before 2025, or roughly 11 million barrels per day if forecast energy demand is to be met. Given the recent crash in world oil prices due to a number of competing geo-political factors (as is usually the case), and the angst in the patch, I thought it interesting to test this thesis. As an aside, the OECD storage levels were at the five-year average in October at 2.848 billion [Read more]
Alberta energy firms split on call for government imposed production cuts
CALGARY - Oilsands and refining giants Suncor Energy Inc. and Husky Energy Inc. are rejecting a call by rival Cenovus Energy Inc. for government-imposed production cuts to reduce an oversupply of oil in Alberta linked to steep price discounts. Suncor spokeswoman Sneh Seetal says the company has no exposure to the "differential" between Western Canadian Select bitumen-blend crude and New York-traded West Texas Intermediate and therefore shouldn't have to reduce its production. She says the [Read more]
Cardium Light Oil, Drill Ready Prospect Available to Industry
Highlights: 12.5 sections (8,000 gross acres; 7,552 net). Average working interest across all lands is 94%. 100% owned existing surface lease with facilities and adjacent high grade road & NG pipeline tie-in, including a vertical Cardium Fm. producing oil well (7-12-59-25W5) Pad drilling from up to 5 existing surface leases allows for up to 23 horizontal locations (@ 4 wells per section spacing) with year-round access. Infrastructure and available capacity also in place. [Read more]
Visit the GPS Team this Friday Nov 16 for Super Early Bird Conference Pass Pricing
Suncor announces Steve Williams’ retirement and transition plan
Mark Little, chief operating officer appointed president and will become chief executive officer at Suncor’s 2019 Annual General Meeting CALGARY, Alberta, Nov. 14, 2018 (GLOBE NEWSWIRE) -- Suncor today announced that Steve Williams will retire as chief executive officer at the company's Annual General Meeting on May 2, 2019. Mark Little, chief operating officer is appointed president effective immediately and will assume the role of chief executive officer upon Williams’ retirement next [Read more]
Ikkuma Resources Obtains Financing and Provides Activity Update
TSX Venture Exchange: IKM-V CALGARY, Nov. 14, 2018 /CNW/ - Ikkuma Resources Corp. ("Ikkuma" or the "Corporation") is pleased to provide an update on financing and its recent activity. Ikkuma is pleased to announce that it has completed a financing for a $20 million senior secured term loan (the "Term Loan") with Alberta Investment Management Corporation ("AIMCo"). The Term Loan bears annual interest at 9.5% and matures on the earliest of the closing of the Corporation's proposed business [Read more]