Strengthens Position as Leading Canadian Domestic Frac Sand Producer January 29, 2019 EDMONTON, ALBERTA. Athabasca Minerals Inc. (“AMI” or the “Corporation”) (TSX Venture: ABM) has entered into an agreement (“Agreement”) to acquire ownership of a private Alberta corporation (“Privco2”) that holds the Duvernay Frac Sand Project (“Duvernay Project”) in Alberta. The Duvernay Project adds to and further strengthens the Corporation’s objective of becoming the leading ‘in-basin’ frac sand supplier [Read more]
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LNG Canada Kitimat project demonstrates great depth of First Nation consultation
In his Key Note Presentation delivered to the British Columbia Natural Resource Forum last week, Andy Calitz, CEO of LNG Canada discussed the depth of consultation and relationship building that gathered support of many First Nations for the project. "When LNG Canada chose Kitimat as the location for our project, we reached out to First Nations leaders and local community officials to help us understand what we needed to do to manage and protect their communities. We spent a great deal of [Read more]
Wet’suwet’en members say pipeline company removed cultural property
HOUSTON, B.C. - Members of the Wet'suwet'en First Nation are alleging the company trying to build a natural gas pipeline through its territory "wilfully, illegally, and violently destroyed" its property this weekend. Coastal GasLink, which is working to build the pipeline from northeastern British Columbia to Kitimat on the coast, said its actions have been permitted and lawful. Jen Wickham, a member of the Gidimt'en clan within the nation, said Coastal GasLink bulldozed three [Read more]
Oilpatch financial results expected to reflect extreme Q4 oil price volatility
CALGARY - Fourth-quarter results from Canada's biggest oil and gas companies will likely feature some surprises, as well as revisions to forward plans, given extreme volatility in commodity prices in the last three months of 2018, financial analysts say. The parade of results begins Friday with Imperial Oil Ltd. and continues next Tuesday with Suncor Energy Inc. During the quarter, U.S. benchmark West Texas Intermediate oil prices fell 16 per cent from the previous period to [Read more]
Saudi Arabia showcases $53B in deals at conference
DUBAI, United Arab Emirates - Saudi Arabia has announced nearly 40 agreements worth $53 billion, billed as the latest effort by Crown Prince Mohammed bin Salman to attract investment, create jobs and diversify revenue away from oil. A further 29 deals worth $960 million in sectors such as mining, logistics and energy were announced Monday at the launch of the government's National Industrial Development and Logistics Program. The crown prince looked on from the front row as [Read more]
Oil and gas producers are releasing their budgets and for service companies, now might be the best time to advertise in the BOE Report
A flurry of 2019 budgets are being released by Canadian oil and gas producers. This comes just a month off a rebound from the lowest oil prices in recent Alberta history. With companies preparing their spending plans this year, service companies will be looking to stay visible to oil and gas producers as they contemplate the services they may be using in the near-term. The BOE Report is the predominant source for oil and gas news, activity and information for oil and gas producers. Over [Read more]
Canada Weekly Rig Count Up 23 to 232
Western Canada’s fleet of drilling rigs increased by 23 rigs to a total of 232 according to data collected by Baker Hughes for the week of January 25th. From last Friday, Alberta rig counts went from 138 to 161. Saskatchewan's rig count went from 50 to 49. Oil drilling went from 128 to 146; natural gas rigs went from 81 to 86. View a full breakdown of western Canada’s rig activity. [Read more]
Peyto Announces TSX Approval for Renewed Normal Course Issuer Bid
CALGARY, Alberta, Jan. 25, 2019 (GLOBE NEWSWIRE) -- Peyto Exploration & Development Corp. (TSX: PEY) ("Peyto" or the "Company") is pleased to announce that the Toronto Stock Exchange ("TSX") has accepted the Company's notice of intention to commence a normal course issuer bid (the "NCIB"). Pursuant to the NCIB, Peyto may purchase up to 12,400,000 of the outstanding common shares of the Company ("Common Shares"), which represents approximately 10% of the "public float" (as such term is [Read more]
No sales tax, but Alberta premier says wait and see for detailed plan
EDMONTON - Alberta Premier Rachel Notley says she won't bring in a sales tax, a health premium or a payroll tax and will wait until closer to the provincial election to outline further details. "Stay tuned for the rest of it," Notley said Friday. She wouldn't say whether she will propose changes to the progressive income tax her NDP brought in to replace the former government's flat tax. "What I will say now is that we are committed to maintaining the tax advantage that [Read more]
U.S. drillers add rigs this week, but cut most in a month since 2016
U.S. energy firms this week increased the number of oil rigs operating for the first time this year but the rig count in January fell the most in a month since April 2016, as the boom in the Permian, the nation's biggest shale oil formation, cools. Drillers added 10 oil rigs in the week to Jan. 25, bringing the total count to 862, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. More than half the total U.S. oil rigs are in the Permian [Read more]