Western Canada’s fleet of drilling rigs increased to to a total of 226 according to data collected by Baker Hughes for the week of September 14th. From one week ago, Alberta rig counts increased from 204 to 226. Saskatchewan's rig count increased from 41 to 48. Oil drilling went from 133 to 148; natural gas rigs increased from 71 to 78. View a full breakdown of western Canada’s rig activity. [Read more]
Headlines
U.S. drillers add oil rigs for second week in three
U.S. energy companies this week added oil rigs for the second time in the last three weeks even as new drilling has largely stalled since June due to pipeline constraints in the country's biggest oilfield. Drillers added seven oil rigs in the week to Sept. 14, the biggest weekly increase in a month, bringing the total count to 867, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. The U.S. rig count, an early indicator of future output, [Read more]
Column: The conundrum of the Canadian oil differential
Imagine being the manufacturer of one of the most highly in demand items on Amazon today, and having the ability to produce a large amount in order to fulfill that demand but are stifled by the fact that your local post office only allows you to ship 50 items a week. So in order to get your products to your customers at the same price as your competitors (that may not have the 50 item per week limit) you have to pay extra for expedited shipping. This takes revenue off the top and effectively [Read more]
Razor Energy Corp. Provides Update on Current NCIB and Announces TSXV Approval for a New Normal Course Issuer Bid
CALGARY, Alberta, Sept. 13, 2018 (GLOBE NEWSWIRE) -- Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) (www.razor-energy.com) is pleased to provide an update on the current normal course issuer bid (the “Current NCIB”) and announces the TSX Venture Exchange (the “TSXV”) has accepted Razor’s notice of intention to commence a new normal course issuer bid (the “New NCIB”) on September 14, 2018. The Current NCIB commenced on September 14, 2017 and concluded on September 13, 2018. Under the [Read more]
West Lake Energy Corp: Non-Core Property Divestiture
West Lake Energy Corp. (“West Lake” or the “Company”) has engaged Sayer Energy Advisors to assist with the sale of its non-core producing heavy oil properties located in the Silverdale, Furness, Tangleflags, Lashburn, Mervin, Pikes Peak, Epping, Celtic, Primate and Freemont areas of Saskatchewan as well as non-producing properties located in the Maidstone, Ear Lake, Manitou, Macklin, Marsden and Rush Lake areas of Saskatchewan (the “Properties”). West Lake operates all of the Properties, [Read more]
Canadian Natural Resources Limited Announces Completion of the Offer to Acquire Laricina Energy Ltd
CALGARY, Alberta, Sept. 14, 2018 (GLOBE NEWSWIRE) -- Canadian Natural Resources Limited (“Canadian Natural” or the “Company”) announces that its offer (the “Offer”) to acquire all of the issued and outstanding common shares (the “Laricina Shares”) in the capital of Laricina Energy Ltd. (“Laricina”), as previously described in the Laricina press release dated July 26, 2018, has been accepted by holders of Laricina Shares representing 98.7% of the issued and outstanding Laricina Shares on a fully [Read more]
International Pipeline Expo: Free Registration Ends September 17, 2018
Blackbird Energy Inc. Announces Non-Brokered Private Placement of Flow-Through Common Shares for Gross Proceeds of $12.4 Million
CALGARY, Alberta, Sept. 14, 2018 (GLOBE NEWSWIRE) -- (TSX-V: BBI) Blackbird Energy Inc. (“Blackbird” or the “Company”) is pleased to announce a non-brokered private placement (the “Private Placement”) of 32.5 million common shares of the Company for aggregate gross proceeds of $12.4 million, of which: 20.0 million common shares will be issued on a “flow-through” basis in respect of Canadian Development Expenses (“CDE”) at a price of $0.37 per share for gross proceeds of $7.4 million; and 12.5 [Read more]
Cequence Energy Announces the Completion of its Equity Rights Offering and Refinancing of its $60 Million Notes, and Planned Share Consolidation
CALGARY, Sept. 13, 2018 /CNW/ - Cequence Energy Ltd. (TSX: CQE) ("Cequence" or the "Company") is pleased to announce the successful completion of its previously announced equity rights offering (the "Rights Offering"), which was over-subscribed and raised the maximum available gross proceeds of $8,593,476. Cequence issued a total of 245,527,883 common shares under the Rights Offering and now has a total of 491,055,766 common shares issued and outstanding. Although Cequence had standby [Read more]
Prairie Provident Resources Inc. Announces Strategic Acquisition of Marquee Energy Ltd. to Unlock Significant Undeveloped Light Oil Growth Potential; Concurrent Flow-Through and Unit Financing
CALGARY, Alberta, Sept. 13, 2018 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. ("Prairie Provident" or the "Company") (TSX: PPR) and Marquee Energy Ltd. ("Marquee") (TSX-V: MQX) are pleased to announce that they have entered into an agreement to effect the acquisition of Marquee (the “Acquisition”) by way of a plan of arrangement (the "Arrangement"). Under the terms of the Arrangement, Marquee shareholders will receive 0.0886 of a Prairie Provident common share ("Prairie Provident Share") [Read more]