Jespersen brings more than 35 years of energy industry experience, including delivering major natural gas pipeline and LNG projects in British Columbia VANCOUVER, March 14, 2018 /CNW/ - Steelhead LNG's development of a natural gas pipeline and ongoing gas supply discussions to support the Kwispaa LNG facility will benefit from the strategic and relationship leadership of former Terasen CEO R.L (Randy) Jespersen, who has been appointed Executive Chairman, Pipeline. Mr. Jespersen joins Steelhead [Read more]
Headlines
Hemisphere Energy Completes Drilling Program
VANCOUVER, March 14, 2018 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") is pleased to announce that it has completed its winter development drilling program in Atlee Buffalo, southeast Alberta. Hemisphere has finished its three-well drilling program in the Atlee Buffalo Upper Mannville G pool, where the Company recently constructed a large centralized oil battery. The results of pressure surveys at the wells indicate continued improvement of [Read more]
Seven Generations delivers $1.23 billion of funds from operations in 2017, up 66%
Return on capital employed of 10% in 2017 Q4 condensate production of 63,700 bbls/d, up 47%; operating netback of $24.86 per boe CALGARY, Alberta, March 14, 2018 (GLOBE NEWSWIRE) -- Seven Generations (TSX:VII) achieved record funds from operations of $1.23 billion for 2017 and $404 million in the fourth quarter, up 66 percent and 84 percent respectively from the same periods of the prior year. Cash provided by operating activities also increased by 74 percent to $310 million in the fourth [Read more]
Light Oil Property Divestiture: Gryphon Petroleum Corp. – Trout, Alberta
Gryphon Petroleum Corp. (“Gryphon” or the “Company”) has engaged Sayer Energy Advisors to assist it with the sale of its high working interest sweet light oil property in the Trout area of northern Alberta (the “Property”). At Trout, Gryphon operates and holds working interests of 64-100% in nine producing Keg River/Granite Wash oil wells and a royalty interest in a tenth producing oil well. The Company also operates two water disposal wells on the Property, with working interests of 47% and [Read more]
ConocoPhillips Announces Cash Tender Offer For up to $400 Million of Debt Securities
HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) announced today that ConocoPhillips and its wholly-owned subsidiary, ConocoPhillips Company (“CPCo”) have commenced a cash tender offer (the “Tender Offer”) to purchase up to $400 million in aggregate principal amount (the “Maximum Tender Offer Amount”) of outstanding notes listed in the table below (collectively, the “Notes” and each a “Series” of Notes), in the order of priority shown in the table [Read more]
Suncor Energy announces change to Syncrude turnaround timing and provides overall Suncor production update
CALGARY, Alberta, March 14, 2018 (GLOBE NEWSWIRE) -- Suncor today announced that the Syncrude maintenance turnaround originally scheduled to begin in April, will be moved up by approximately one month. On March 15, Syncrude plans to begin an eight-week turnaround, which was originally scheduled to begin in April. Advancing the turnaround will permit Syncrude to address an unrelated issue which has been constraining capacity on a line that feeds bitumen from the mine to the upgrader. Executing [Read more]
Oil majors give in to investors with share buyback spree
(Reuters) - After almost three barren years for investors who have poured millions into the U.S. oil sector, producers are finally opening the floodgates to a wave of share buybacks that will return money to shareholders this year. U.S. oil production topped 10 million barrels per day earlier this year, approaching a record set in 1970, but until recently many investors in the shale oil revolution were still waiting for their payday. (here) Since the beginning of year, 11 companies have [Read more]
Oil market shrugs off rising threat to Iran deal: Kemp
LONDON (Reuters) - President Donald Trump’s decision to replace his secretary of state with a more hawkish figure should have been bullish for oil prices since it increases the probability the nuclear deal with Iran will be abandoned in May. Failure to recertify the deal could lead to the re-imposition of secondary sanctions and pressure from the United States on other countries to reduce their purchases of Iranian crude again. But the decision to replace the secretary of state barely [Read more]
Private oil and gas company looking for drilling-ready prospects for 2018 drilling campaign
A private company with existing operation in Alberta is seeking for drilling-ready prospects for its 2018 drilling program. Medium-light oil, relatively shallow, high working interest and large inventory of locations are preferred. Transaction could be done in cash or GOR. Interested party please send email to 2018drilling@gmail.com and the company information will be provided in person. [Read more]
Journey Energy Inc. Reports its 2017 Financial Results
CALGARY, March 13, 2018 /CNW/ - Journey Energy Inc. (JOY – TSX) ("Journey" or the "Company") is pleased to announce its financial results for 2017. The complete set of financial statements and management discussion and analysis for the year ended December 31, 2017 are posted on www.sedar.com and on the Company's website www.journeyenergy.ca. Highlights for the fourth quarter of 2017 were: Realized funds flow of $9.8 million in the fourth quarter, an 18% increase over the $8.4 million in [Read more]