Calgary, Alberta (FSCwire) - Point Loma Resources Ltd. (TSX VENTURE: PLX) (the “Corporation” or “Point Loma”) is pleased to announce that it has closed an additional non-core transaction to sell royalty interests acquired as part of a recent east central Alberta transaction and provides an update on its Q4 2018 drilling program activities. Non-core Asset Dispositions Update Point Loma has sold certain royalty interests and a 1% gross overriding royalty on properties acquired in east [Read more]
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Receivership Sale: Animus Capital Partners Inc. – Ernst & Young Inc. – Ranch Energy Corporation
Animus Capital Partners Inc. (“Animus”) has been engaged as exclusive financial advisor to assist Ernst & Young Inc. (“EY”), in its capacity as Court appointed Receiver and Manager of Ranch Energy Corporation (“Ranch” or the “Company”), with EY launching a broadly marketed sales process for the Ranch oil & gas properties. Ranch has natural gas producing assets located in the Wildboy, Cordova, and Fort St. John areas of northeastern British Columbia. The Company has high working [Read more]
Call it what you want, but the National Energy Program is back
Not everyone is a market hawk. Not everyone enjoys watching the prices of everything from orange juice to pork bellies to crude oil bounce around like tennis balls in a dryer. Not everyone gets swept up in the nuances of hourly price changes, and that is a good thing – such short-term small fluctuations are often trader-driven and borderline irrelevant. On the other hand, some market data is pretty shocking and worth taking a peek at. For those that don’t pay much attention to markets, I [Read more]
Experts express concern about refinery safety in wake of Irving blast
Oil refineries and other large industrial operations that are surrounded by residential communities need to work harder to ensure safety and protect their own bottom lines, multiple experts say. A massive refinery blast shook Saint John, N.B., on Monday, sending flames and black smoke into the sky but causing only minor injuries, leaving officials relieved it wasn't far worse. Kevin Scott, Irving Oil's chief refining and supply officer, told reporters at an afternoon briefing [Read more]
Irving Oil shuts refinery after fire at Saint John refinery
Irving Oil Corp's Saint John refinery in the Canadian province of New Brunswick was shut on Monday morning after a fire, with local media photos showing smoke billowing from the complex. The company said it was dealing with a "major incident" at the 320,000 barrel-per-day refinery. Local residents reported hearing an explosion and seeing a fire, according to local media. This happening right now, massive explosion and fire at Irving oil refinery. pic.twitter.com/tucyb5K65S— Ian [Read more]
Velvet Offer for Iron Bridge Resources Expires
87.73% of Iron Bridge common shares tendered Velvet Offer for Iron Bridge Resources expires Velvet sets shareholder meeting to approve final acquisition transaction CALGARY, Alberta, Oct. 05, 2018 (GLOBE NEWSWIRE) -- Velvet Energy Ltd. ("Velvet") and Iron Bridge Resources Inc. (TSX: IBR) ("Iron Bridge") today announced that Velvet's amended $0.845 per share all cash offer has expired, and that a total of approximately 87.73% of Iron Bridge common shares equating to approximately [Read more]
Regulator picks 98 interveners for new Trans Mountain pipeline hearing
CALGARY - The National Energy Board says it has granted intervener status to 98 applicants for an upcoming hearing to reconsider approval of the Trans Mountain pipeline expansion project. The NEB says it received 123 applications to participate by the deadline and rejected 25 of them. It says 75 applicants were interveners in previous hearings and 23 are considered new applicants. The list includes the cities of Vancouver, Victoria and Burnaby; Indigenous groups from Alberta and B.C.; [Read more]
Canada Weekly Rig Count Up 4 to 182
Western Canada’s fleet of drilling rigs decreased to a total of 182 according to data collected by Baker Hughes for the week of October 5th. From one week ago, Alberta rig counts returned to 126 after declining to 110 from the week before. Saskatchewan's rig count decreased from 48 to 33. Oil drilling went from 122 to 119; natural gas rigs increased from 56 to 63. View a full breakdown of western Canada’s rig activity. [Read more]
ConocoPhillips Announces Increase in Quarterly Dividend
HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today announced a quarterly dividend of 30.5 cents per share, an increase of 7 percent, payable Dec. 3, 2018, to stockholders of record at the close of business on Oct. 15, 2018. “Today’s dividend action is consistent with our strong operational performance, our focus on margin and cash flow expansion, and our commitment to a differentiated returns-focused value proposition, under which we return a substantial percentage of our cash flows [Read more]
U.S. oil drillers cut rigs for third week in a row
The U.S. oil drilling rig count fell for a third consecutive week even though crude prices hit four-year highs this week, as rising costs and pipeline bottlenecks in the nation's largest oil field have hindered new drilling since June. Drillers cut two oil rigs in the week to Oct. 5, bringing the total count down to 861, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. This is the longest streak of weekly cuts since October last [Read more]