CALGARY - Alberta Premier Rachel Notley is handing out tax breaks for oil and gas drillers along with criticism of Ottawa's lack of appreciation for how damaging are current price discounts on western Canadian oil. In a speech at a Canadian Association of Oilwell Drilling Contractors event in Calgary, she announced her government would add oil and gas drilling to a list of trade-exposed industries exempt from the province's carbon tax. The exemption, made retroactive to when the [Read more]
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Alberta may go it alone to buy trains to move more crude – premier
Alberta is willing to buy trains itself and help clear a backlog of crude oil in the Canadian province if the Canadian government decides not to share costs, Premier Rachel Notley said on Thursday. Notley, speaking in Calgary to oil well drillers, said Alberta has asked Prime Minister Justin Trudeau's government to share costs of adding rail capacity to move an additional 120,000 to 140,000 barrels per day. Notley said Alberta has not received an answer from Ottawa. "Ottawa needs to join [Read more]
Questerre Energy: Second Kakwa North well tests at over 2,700 boe/d
CALGARY, Alberta, Nov. 22, 2018 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today the test results from the second well at Kakwa North. The operator recently completed the second farm-in well, 100/01-04-64-6W6M well (the "01-04 Well"), with a 2900m horizontal leg in the Montney Formation. During the last 24 hours of a 200-hour production test, the 01-04 Well flowed 9.8 MMcf/d of natural gas and 1,124 bbls/d of condensate (2,770 boe/d). [Read more]
Federal government considering proposal to buy rail cars to move stranded crude
Canada's federal government is considering a proposal from Alberta to share the cost of buying rail cars to move oil stuck in the region because of a lack of pipeline capacity, said two sources with direct knowledge of the matter. The lack of pipelines has caused Western Canadian oil producers to struggle to move oil to refineries in the United States, resulting in record low prices for Canadian crude. That has prompted the Alberta government to take urgent measures to shore up the industry, [Read more]
How Voltage connected their data to Petro Ninja to help deliver best in class service
Voltage Wireline is a Calgary based wireline company with offices in Calgary, Brooks, Red Deer, Whitecourt, and Grande Prairie. Over the past 5 years, they have completed more than 15,000 jobs and accumulated data (documents, logs, analysis, notes) for each well they’ve worked on. All this data is stored in an electronic well folder system, allowing Voltage to track the multiple jobs and observations for each individual well. Though valuable, well folder systems can be slow and cumbersome to [Read more]
Clearview Reports Second Quarter Results and Operations Update
Bashaw acquisition increases area of focus, improves financial position and adds core competencies; Disposition reduces bank debt to fund the summer capital program; Company's lender confirms credit facility at $21 million; Wilson Creek Cardium horizontal well (85% working interest) achieves IP60 of 251 barrels of oil per day – ahead of type-curve expectations; Equity of $2.0 million raised through September to November, 2018; and Windfall Bluesky horizontal well (100% working [Read more]
Hemisphere Energy Announces Q3 2018 Financial and Operating Results
TSX-V: HME - VANCOUVER, Nov. 21, 2018 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") announces its financial and operating results for the three and nine months ended September 30, 2018. Q3 2018 HIGHLIGHTS Achieved record quarterly average production of 1150 boe/d (96% oil), a 69% increase over the third quarter of 2017. Increased revenue by 114% to a record $5.9 million, compared to $2.7 million for the third quarter of 2017. Generated [Read more]
Ottawa ‘on a different economic planet:’ Alberta finance minister
CALGARY - Alberta's finance minister says Ottawa's latest fiscal update shows the federal government doesn't appreciate how badly the price squeeze on western Canadian crude is hurting the Canadian economy. "It's clear the federal government's not speaking the same economic language of Albertans," Joe Ceci said Wednesday. "Ottawa is living in a different economic planet." Ceci said he was disappointed the fall economic statement included no actions to help Alberta oil producers narrow the [Read more]
NEB reports crude-by-rail exports rose to a record 269,829 bpd in September
CALGARY - The National Energy Board says crude-by-rail exports from Canada rose to a record 269,829 barrels per day in September. That's up more than 17 per cent from 229,544 in August and just over double the 134,132 barrels per day recorded in September 2017. Total crude exports reached 3.47 million bpd in September, up from 3.31 million a year earlier. Pipeline export constraints are being blamed for a glut of oil in Western Canada that caused the price discount to peak at more than [Read more]
Ikkuma Resources Corp. Announces Third Quarter 2018 Financial and Operating Results
CALGARY, Nov. 21, 2018 /CNW/ - Ikkuma Resources Corp. ("Ikkuma" or the "Corporation") (TSXV: IKM) is pleased to report its financial and operating results for the three and nine months ended September 30, 2018. Financial and operational information is set out below and should be read in conjunction with Ikkuma's September 30, 2018 unaudited interim financial statements and the related management's discussion and analysis ("MD&A"). Ikkuma's condensed unaudited interim financial statements [Read more]