CALGARY, Alberta, July 09, 2018 (GLOBE NEWSWIRE) -- Suncor today provided an update on the Syncrude Oil Sands facility following the site wide power disruption on June 20. Preliminary investigation results indicate that the cause of the disruption was a transformer trip in Syncrude’s power house resulting in a rapid site wide loss of power and steam generation. As a result, all process units were brought down. There were no injuries or safety incidents as a result of this outage. Syncrude [Read more]
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Baker Hughes, a GE company Announces June 2018 Rig Counts
HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for June 2018 was 959, down 8 from the 967 counted in May 2018, and down 1 from the 960 counted in June 2017. The international offshore rig count for June 2018 was 195, down 3 from the 198 counted in May 2018, and down 2 from the 197 counted in June 2017. The average U.S. rig count for June 2018 was 1,056, up 10 from the 1,046 counted in May 2018, [Read more]
AltaGas Ltd. Announces Closing of its Acquisition of WGL Holdings, Inc.
Transformational Acquisition Enhances AltaGas' Position as a Leading North American Clean Energy Infrastructure Company with Strong Growth Opportunities in Midstream, Power and Utilities CALGARY, July 6, 2018 /CNW/ - AltaGas Ltd. (AltaGas) (TSX: ALA) announced today the closing of its approximately $9 billion acquisition of WGL Holdings, Inc. (WGL), creating a North American leader in the clean energy economy. The combination of AltaGas and WGL supports AltaGas' long-term vision and [Read more]
Momentum builds for LNG Canada as pipeline workcamp contract awarded
CALGARY - Analysts say the awarding of a workforce accommodation contract to Houston-based Civeo Corp. is another sign that the $40-billion LNG Canada project is headed for a positive final investment decision later this year. Civeo says it has been awarded contracts to supply temporary work camps at four locations along the Coastal GasLink pipeline from Dawson Creek, B.C., to the west coast of B.C., on the condition that the liquefied natural gas export terminal is built. The [Read more]
U.S. drillers add oil rigs for first week in three
U.S. energy companies this week added oil rigs for the first time in three weeks but the rate of growth has slowed over the past month or so with a decline in crude prices from late May through late June. U.S. crude prices , however, jumped to their highest since November 2014 earlier this week. Drillers added five oil rigs in the week to July 6, bringing the total count to 863, General Electric Co's BakerHughes energy services firm said in its closely followed report on Friday. The [Read more]
Canada Weekly Rig Count Up 10 to 182
Western Canada’s fleet of drilling rigs went up from 172 to 182 according to data collected by Baker Hughes for the week of July 6th. From one week ago, Alberta rig counts increased from 112 to 120. Saskatchewan's rig count increased from 41 to 42. Oil drilling went from 117 to 126; gas rigs went from 55 to 56. View a full breakdown of western Canada’s rig activity. [Read more]
Strath Resources Closes Transformative Acquisition of Montney Assets
CALGARY, July 6, 2018 /CNW/ - Strath Resources Ltd. ("Strath") is pleased to announce that it has closed the previously announced acquisition from Paramount Resources Ltd. ("Paramount") of its assets in the Resthaven/Jayar area of the Kakwa region for total consideration of $340 million, paid 50% in cash and 50% in Strath common shares. The cash component was funded through an equity investment in Strath by Strath's majority owner, Waterous Energy Fund and the remaining $170 million was funded [Read more]
Paramount Resources Ltd. Closes the Sale of its Oil and Gas Properties in Resthaven / Jayar for $340 Million
CALGARY, July 6, 2018 /CNW/ - Paramount Resources Ltd. (TSX: POU) ("Paramount" or the "Company") is pleased to announce that it has closed the previously announced sale of its oil and gas properties and related infrastructure at Resthaven / Jayar in the Kakwa region (the "Assets") to Strath Resources Ltd. ("Strath"). Consideration received by Paramount totaled $340 million, and included $170 million in cash (subject to customary post-closing adjustments), 85 million Strath common shares and [Read more]
Ikkuma Resources Signs Definitive Agreement for Sale of Midstream Assets
TSX Venture Exchange: IKM-V CALGARY, July 5, 2018 /CNW/ - Ikkuma Resources Corp. (TSXV: IKM) ("Ikkuma" or the "Corporation") is pleased to announce that it has entered into a purchase and sale agreement (the "Purchase and Sale Agreement") on July 4, 2018 to sell certain midstream assets in the Alberta foothills (the "Infrastructure Asset Sale") to an undisclosed purchaser for a total cash consideration of $23.0 million, subject to customary adjustments. The Infrastructure Asset Sale is [Read more]
Kelt Reports Inga Infrastructure Agreement, Provides an Operations Update and Expands Its Executive Team
CALGARY, Alberta, July 05, 2018 (GLOBE NEWSWIRE) -- Inga Infrastructure Kelt Exploration Ltd. (TSX:KEL) (“Kelt” or the “Company”) is pleased to announce that it has entered into a letter of intent (“LOI”) with AltaGas Ltd. (“AltaGas”) for firm processing of 75 MMcf per day of raw gas under a 10 year take-or-pay arrangement at AltaGas’s proposed and already permitted 99 MMcf per day (expandable to 198 MMcf per day) C3+ deep-cut natural gas processing plant located at AltaGas’ existing [Read more]