CALGARY - Amid the dozens of Calgarians posting online moving sale ads in the aftermath of the oil price crash, Lora and Danny Major's story is typical, even if their relocation destination isn't. Next month, the couple plans to move with their three preteen children to Cuenca, Ecuador. Until that moment arrives, they'll be selling almost everything they own in garage sales and leaving an uncertain future in the oilpatch. Lora, 37, says the idea of moving overseas grew out of a [Read more]
Headlines
Painted Pony Announces Interim Firm Transportation
CALGARY, July 12, 2016 /CNW/ - Painted Pony Petroleum Ltd. ("Painted Pony" or the "Corporation") (TSX: PPY) is pleased to announce that it has secured sufficient interim firm transportation to mitigate any impact by potential delays in the completion of the High Pine Expansion Project (the "Project") on the T-North Pipeline by Spectra Energy ("Spectra"), as the project proponents await regulatory approval to proceed. Painted Pony's previously announced firm transportation on Spectra's T-North [Read more]
Lightstream Announces Proposed Recapitalization Transaction
CALGARY, ALBERTA--(Marketwired - July 12, 2016) - Lightstream Resources Ltd. (the "Company" or "Lightstream") (TSX:LTS) announces that, as a result of our previously announced discussions with an ad hoc committee (the "Ad Hoc Committee") of the holders (the "Secured Noteholders") of the Company's US$650 million 9.875% second lien secured notes due June 15, 2019 (the "Secured Notes"), the Company has entered into a restructuring support agreement (the "Support Agreement") with members of the Ad [Read more]
Federal Study Blows Up Green Claim That Fracking Poisons Water
Natural sources of methane are far more likely to contaminate groundwater than hydraulic fracturing, or fracking, according to a National Science Foundation (NSF) funded study published Monday. The study examined methane levels in groundwater supplies going back 25 years and determined that biologically generated methane and naturally occurring coal were the primary sources of methane in groundwater. The research also disproves environmental claims that methane from fracking causes [Read more]
British Columbia’s most active operator is Progress Energy
Drilling activity in British Columbia is focused almost entirely on the Montney natural gas reserves in the province's northeast corner. Of the 256 total wells drilled in BC since June of 2015, 226 were targeted at the Montney. The most active driller in the region (for that matter, BC) is Progress Energy. Progress, since June of 2015 has drilled 69 wells all focused on the Montney play. Tourmaline Oil Corp. is the next most active driller in British Columbia. In the past year, the Tourmaline [Read more]
New Alberta oil and gas royalty framework accepting earlier applications
CALGARY - The Alberta government is now allowing oil and gas producers to make applications for new projects under its modernized royalty framework that had been scheduled to begin next January. Provincial energy minister Marg McCuaig-Boyd says the decision to speed up implementation has been made because the industry wants to be able to begin working on new projects under the new system without having to wait until the end of the year. She says some wells might not be drilled if [Read more]
DXI Announces Closing of Final Tranche of Cdn.$995,800 Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - July 12, 2016) - DXI Energy Inc. (NYSE MKT:DXI)(TSX:DXI) ("DXI" or the "Company"), an upstream oil and gas exploration and production company operating in Colorado's Piceance Basin and the Peace River Arch region in British Columbia, today announced it has closed the Cdn.$353,800 final tranche of its private placement (the "Offering"), previously reported by the Company on May 27 and June 28, 2016. A total of 2,948,333 common shares of the Company [Read more]
LNG Canada delay means dark clouds growing over industry in B.C.: experts
VANCOUVER - Premier Christy Clark's dreams of a booming liquefied natural gas industry in British Columbia have been dealt another blow after a Shell-backed venture delayed a final investment decision indefinitely. LNG Canada's decision to put the project in Kitimat on hold amid weak global prices isn't surprising, but it adds to the pessimistic mood around the future of the sector in B.C., experts say. "It just creates a dark cloud over what is already a bunch of dark clouds for [Read more]
Finance Department memo says no new oil pipeline needed ‘until at least 2025’
OTTAWA - Alberta Premier Rachel Notley is telling Ottawa there's no more time to "dither" on pipeline approvals, but an internal federal analysis may indicate why the Liberals are content to consult widely before making a decision. A memo to the deputy minister of finance says low oil prices mean there is enough transport capacity in Canada to move oil without any new pipelines for another decade. Among the key points in the heavily redacted December memo, under the subject line [Read more]
PetroFrontier Corp. Announces Execution of Definitive Agreement and Filing of Filing Statement in Connection With Proposed Asset Acquisition
CALGARY, ALBERTA--(Marketwired - July 12, 2016) - PetroFrontier Corp. ("PetroFrontier") (TSX VENTURE:PFC) is pleased to announce that further to its news release dated June 1, 2016, PetroFrontier and Kasten Energy Inc. ("Kasten"), have entered into a definitive agreement dated July 12, 2016 (the "Definitive Agreement") for the acquisition of certain resource assets of Kasten (the "Assets") in the Cold Lake area of northeastern Alberta (the "Acquisition"). In connection with the Acquisition, [Read more]