Ah, the Canadian way. Be polite, be good hosts, and everyone will like us. We teach our children those things. Well, probably some of that; we teach them to be polite but that you can’t please everyone, and that you can’t let bullies take your lunch money. Maybe you don’t challenge the bully to a fight, there’s principle and then there’s stupid, but the lesson should be to find solutions, not acceptance. It appears maybe that part of Canada's problem is that it has no idea who the bullies [Read more]
Headlines
PrairieSky Royalty Appoints New Independent Director
CALGARY, Alberta, June 18, 2018 (GLOBE NEWSWIRE) -- James Estey, Chair of the Board of Directors of PrairieSky Royalty Ltd. (“PrairieSky”) (TSX:PSK) is pleased to announce the appointment of Myron M. Stadnyk, P. Eng., to the company's Board of Directors. Mr. Stadnyk’s appointment is effective June 18, 2018. "On behalf of the Board, I am pleased to welcome Mr. Stadnyk as our newest director and look forward to his contributions to PrairieSky," said Mr. Estey. "Myron is recognized within the [Read more]
Baytex and Raging River to Merge and Create a Top-Tier North American Oil Producer with Exceptional Assets and a Strong Balance Sheet
CALGARY, Alberta, June 18, 2018 (GLOBE NEWSWIRE) -- Baytex Energy Corp. (“Baytex”) (TSX:BTE) (NYSE:BTE) and Raging River Exploration Inc. (“Raging River”)(TSX:RRX) are pleased to announce that their respective boards of directors have unanimously agreed to a strategic combination of the two companies (the “Transaction”). The combined organization will be a well-capitalized, oil-weighted company with an attractive growth and free cash flow profile provided by its world class assets across North [Read more]
Leucrotta Announces Upper Montney Light Oil Discovery at Two Rivers
CALGARY, Alberta, June 18, 2018 (GLOBE NEWSWIRE) -- Leucrotta Exploration Inc. (“Leucrotta” or the “Company”) (TSXV:LXE) is pleased to announce the following update: TWO RIVERS UPPER MONTNEY DISCOVERY Leucrotta drilled and completed an Upper Montney horizontal multi-frac well at 10-08-83-16W6 to extend expiring lands in the Two Rivers area of British Columbia. The well was tested on clean-up for 10 days and had a flow rate on the last day of the test of 1,842 boe/d comprised of 685 bbl/d of [Read more]
Trident Exploration Corp.: 2018 Riviere Oil Property Offering
Trident Exploration Corp. has retained CB Securities Inc. as its exclusive advisor for the sale of its Riviere oil property. Opportunity Summary Production is currently 160 BOE/day, consisting of 90 Bbls/day of 27.5° API oil, 295 Mcf/day of sales gas, and 22 Bbls/day of natural gas liquids Oil price received is based on light sweet oil pricing less $9.35/Bbl $20/BOE operating costs and 12.6% royalties $845 Thousand Estimated 2018 Net Operating Income at $74.09/Bbl (US$61.67/Bbl) [Read more]
Indigenous protesters in Washington declare Trans Mountain won’t be built
VANCOUVER - Cedar George-Parker remembers the moment he decided to devote his life to defending Indigenous people and their traditional territories. It was the one-year anniversary of a shooting at his high school that killed four of his classmates in Marysville, Wash. "I dropped to my knees and I said, 'I'm going to make a change in the world,' " he recalled. George-Parker is among the Indigenous protesters in Washington state promising to fight the Trans Mountain pipeline expansion. [Read more]
Permian glut, full pipelines means more discounted oil – Goldman Sachs
The crude oil glut in the Permian basin is likely to persist as regional producers show no signs of slowing production, which could drive regional price seven lower, Goldman Sachs said on Friday. While output in the Permian basin of West Texas has soared,pipeline construction has not kept up, causing local prices to reach their widest discount to U.S. futures in 3-1/2 years last month at $13. They are now trading about $9 below benchmark U.S.futures . Producers' bearish views on pipeline [Read more]
Enbridge endorses two alternatives for Great Lakes pipeline replacement
Enbridge Inc on Friday endorsedeither an underwater tunnel or trench to replace a section ofits 65-year-old energy pipeline that travels under a stretch ofthe U.S. Great Lakes in Michigan.Some local officials want the line removed to prevent thepotential for a spill into lake waters. The state of Michiganproposed moving the line into a tunnel under the lake bed andasked the company to evaluate it and other alternatives. The Canadian pipeline operator said a tunnel would costbetween $350 [Read more]
Canada Weekly Rig Count Up 27 to 139
Western Canada’s fleet of drilling rigs went up 27 to 139 according to data collected by Baker Hughes for the week of June 15th. From one week ago, Alberta rig counts increased 68 to 91. Saskatchewan's rig count increased from 27 to 30. Oil drilling went from 69 to 87; gas rigs increased from 43 to 52. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. drillers add oil rigs for fourth week in a row
(Reuters) - U.S. energy companies added one oil rig this week, the fourth consecutive week of increases, despite a 9 percent decline in crude prices over the past four weeks. Despite that decline, producers still expect higher prices for their oil in 2018 than they received in 2017. The oil rig count in the week to June 15 rose to 863, the highest level since March 2015, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Friday. That was the [Read more]