CALGARY, July 24, 2018 /CNW/ - MEG Energy Corp. ("MEG" or the "Corporation") (TSX: MEG) announces the resignation of Daniel S. Farb as a director of the Corporation effective immediately. The Company would like to thank Mr. Farb for his services as a director. About MEG Energy MEG Energy Corp. is focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta, Canada. MEG is actively developing enhanced oil recovery projects that [Read more]
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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 Jul. 24 Power Engineer - Second Class Canadian Natural Resources Cold Lake Jul. 24 Mine Maintenance Planner Canadian Natural Resources Fort McMurray Jul. [Read more]
Vesta Energy Corp. Announces Closing of C$200 Million of Senior Unsecured Notes
CALGARY, July 24, 2018 /CNW/ - Vesta Energy Corp. ("Vesta" or the "Company") is pleased to announce today that it has completed a C$200 million offering of senior unsecured notes due 2023 with a coupon of 8.125% (the "Notes"). Vesta intends to use the net proceeds from the sale of the Notes to fund its light oil development of the East Shale Duvernay and for general corporate purposes. Curtis Cook, President and Chief Executive Officer of Vesta, commented: "With the successful closing [Read more]
Spotlight falls on Cenovus debt reduction, rail contract talks
July 24 (Reuters) - Canadian oil sands company Cenovus Energy investors will scrutinize quarterly earnings this week for details on Chief Executive Alex Pourbaix’s debt-cutting efforts and crude-for-rail contract negotiations to help resolve pipeline jams. After last year's unpopular acquisition of ConocoPhillips' assets, Pourbaix, who inherited a company last October with C$9.51 billion in long-term debt, is giving himself until 2019 to turn Cenovus around and bring that figure down. He [Read more]
Toscana Energy Announces Acquisition of Cortona Energy Ltd.
CALGARY, Alberta, July 23, 2018 (GLOBE NEWSWIRE) -- Toscana Energy Income Corporation ("Toscana" or the "Company") (TSX:TEI) is pleased to announce that further to its news release dated June 14, 2018, the Company has entered into a share purchase agreement (the "Agreement") to acquire 100% of Cortona Energy Ltd. (“Cortona”) for aggregate consideration of approximately $12,000,000.00 subject to customary closing conditions (the “Transaction”). In connection with the Transaction, the Company [Read more]
Oil market hits a cyclical pause: Kemp
LONDON, July 24 (Reuters) - Brent crude futures prices are trading in contango for the first time in 10 months, as traders anticipate an increase in crude availability during the remainder of 2018. The Brent calendar spread for the first six months slumped into a contango of 43 cents per barrel on Monday, from a backwardation of $3.50 as recently as April 26. Brent futures are trading in contango for the four contracts closest to delivery, from September 2018 through January 2019. Hedge [Read more]
Vital Announces Appointment of New Director, President & CEO
CALGARY, Alberta, July 23, 2018 (GLOBE NEWSWIRE) -- Vital Energy Inc. (“Vital” the “Corporation”) is pleased to announce that Mr. Yingchuan Wu has been appointed as President and Chief Executive Officer of Vital. In addition, Mr. Wu has also been appointed as a director of the Corporation. Mr. Nick Zhang, the former Chief Executive Officer of Vital has been appointed as Vice President Exploration and Mr. Jeffrey Standen, the former President of the Corporation continues to serve as the Corporate [Read more]
Craig: Trudeau helps foreign businesses again, hurts Canadian ones
The Trudeau government has once again introduced legislation that will hurt Canadian companies while helping their foreign competitors. Prime Minister Trudeau’s latest move is not only hurtful to everyone who works in the oil and gas industry, it’s harmful to all the tax-paying companies and workers across Canada that supply parts, supplies and services to Canada’s energy industry. The situation involves Bill C-69, legislation that was tabled by the federal government earlier this year. If [Read more]
Duvernay East Shale Basin Study – Regional and Reconnaissance Project
Core Laboratories Integrated Reservoir Solutions Division is proposing a new study focusing on the characterization and evaluation of numerous legacy (and new) conventional cores taken from multiple wells in the Duvernay East Shale Basin. These will be analyzed for geological, petrophysical, geomechanical, geochemical, and production properties. Data is then integrated with well logs, stimulation designs and production test information. Core Laboratories Integrated Reservoir [Read more]
Gear Energy Ltd. Announces Acquisition of Steppe Resources Inc.
CALGARY, July 23, 2018 /CNW/ - Gear Energy Ltd. ("Gear") (TSX: GXE) is pleased to announce that it has entered into a definitive agreement (the "Arrangement Agreement") providing for the acquisition by Gear of all of the issued and outstanding common shares (the "Steppe Shares") of Steppe Resources Inc. ("Steppe"), a private oil and gas company, pursuant to a plan of arrangement under the Business Corporations Act (Alberta) (the "Arrangement"). Light Oil Acquisition Under the terms of the [Read more]