CALGARY, Alberta, June 22, 2018 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (TSX:TGL) (NASDAQ:TGA) (“TransGlobe” or the “Company”) announces a mid-second quarter 2018 update. All dollar values are expressed in US dollars unless otherwise stated. Highlights Published AIM listing documents June 1st, 2018; application has been made for admission to trading in London on June 29th Drilled three oil wells during the quarter (K45, Arta 54, NWG 38A-Inj) Stimulated four oil wells [Read more]
Headlines
Op Ed: Liberals failed to exert federal jurisdiction over Trans Mountain
Today, the Minister of Natural Resources confirmed that the Liberals failed to exert federal jurisdiction over the Trans Mountain Expansion project and that he has no idea when the construction of this important project will begin. It’s been almost a month since the Prime Minister announced that Canadian taxpayers would be on the hook for his failure to champion our energy sector, and clearly the Liberals still don’t have a plan. Minister Carr also admitted that there are delays in the [Read more]
Duvernay Rights Divestiture: InPlay Oil Corp. – Pembina and Sylvan Lake areas of Alberta
Sayer Energy Advisors has been engaged to assist InPlay Oil Corp. (“InPlay” or the “Company”) with the sale of its prospective Duvernay oil rights located in the Sylvan Lake and Pembina areas of Alberta (the “Properties”). In the Sylvan Lake area, InPlay holds an average 50% working interest in 22.25 sections of land which are prospective for oil and natural gas production from the Duvernay Formation. In the Pembina area, InPlay holds an average 61% working interest in 8.75 sections of land [Read more]
Keyera Corp. Announces Closing of $400 Million Public Note Offering
CALGARY, June 21, 2018 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced today that it has closed its previously announced offering of $400 million of senior unsecured medium term notes (the "Offering"). The Offering was conducted in a single tranche consisting of $400 million senior unsecured medium term notes having a fixed coupon of 3.934% per annum, paid semi-annually, and maturing on June 21, 2028 (the "Notes"). The Offering was announced on June 19, 2018. The Notes were offered [Read more]
Oil price will be driven by consumers rather than OPEC: Kemp
LONDON, June 21 (Reuters) - Oil traders’ attention is focused this week on Vienna, where ministers from the Organization of the Petroleum Exporting Countries and its allies must decide whether to increase their output in the second half of 2018. But the direction of prices over the next year will be more influenced by less visible developments in the major oil-consuming countries, especially the United States, Europe, China and India. With available production capacity fairly fixed in the [Read more]
Nexen Energy announces $400-million expansion of its oilsands project in Alberta
CALGARY - Nexen Energy says it will spend about $400 million to build a 26,000-barrel-per-day expansion of its Long Lake oilsands project in northern Alberta. The company, which was purchased by Chinese state-owned China National Offshore Oil Co. Ltd. (CNOOC) in 2013, says its Long Lake Southwest expansion will add three steam-driven well-pads that will send bitumen to its existing facilities. It says in a release on its website the project has been approved by the Alberta Energy Regulator [Read more]
N.S. hopes to boost offshore oil exploration with $12-million for research
HALIFAX - Nova Scotia's government will invest $11.8 million on geoscience research over the next four years to encourage offshore oil exploration. Energy Minister Geoff MacLellan announced the investment today. The exploration program collects core samples and makes maps of the ocean bottom and sub-bottom. The program is also working to recreate seismic images from 200 million years ago when Nova Scotia and Morocco separated. The work is done in collaboration between the Geological [Read more]
Hemisphere Energy Commences Southern Alberta Drill Program
TSX-V: HME - VANCOUVER, June 20, 2018 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") is pleased to provide an update on its drilling and field operations. The Company has continued to see operational and waterflood success through the first two quarters of 2018 with stable field production rates for the month of June to date estimated at 1,090 boe/d (97% oil). This represents an 80% increase over Hemisphere's 2017 annual production rate. With a solid [Read more]
Velvet Energy Comments on Iron Bridge Resources’ Directors’ Circular
Velvet Energy’s offer of $0.75 in cash per common share represents a significant 58% premium to the $0.475 closing price of Iron Bridge common shares on May 11, 2018, the last trading day prior to the submission of Velvet’s offer letter to the Iron Bridge board of directors. Velvet’s all-cash offer represents full and fair value and certainty, which is financially superior to the high-risk “go it alone” alternative. Velvet’s offer is not subject to due diligence and has only limited [Read more]
Keyera Announces Closing of U.S. Liquids Terminal Acquisition
CALGARY, June 19, 2018 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") today announced that its wholly owned subsidiary, Keyera Energy Inc., has closed its previously announced acquisition of a logistics and liquids blending terminal located near Tulsa, Oklahoma for a purchase price of US$80 million (subject to adjustments) plus up to US$10 million in additional consideration over five years. About Keyera Keyera Corp. (TSX:KEY) operates an integrated Canadian-based midstream business with [Read more]