Western Canada’s fleet of drilling rigs went down by 17 rigs to the current count of 325 actively drilling rigs according to data collected by Baker Hughes for the week of February 9th. From one week ago, Alberta rig counts decreased from 229 to 228, the Saskatchewan rig count decreased from 75 to 66. Oil drilling went from 234 to 221; gas rigs went up from 108 to 104. View a full breakdown of western Canada’s rig activity. [Read more]
Headlines
From BC wineries to Canadian business to natives, Trans Mountain protesters are hurting us all with zero environmental benefits to show for it
There is a palpable sense of frustration building across the land at Canada’s inability to build anything. A snapshot of news headlines this cold wintry day lists this and this and this, from a variety of mainstream news organizations. The current BC standoff is, fundamentally, not up for debate. Federal jurisdiction over waterways is the law of the land. It is in Alberta, when a pipeline must cross a river, or any activity comes near a natural waterway. It is on the coasts, all of them, and [Read more]
Saturn Oil + Gas Inc. Provides Operational Update to Winter Drill Program
SASKATOON, Saskatchewan, Feb. 09, 2018 (GLOBE NEWSWIRE) -- Saturn Oil + Gas Inc. (“Saturn” or the “Company”) (TSX.V:SMI) (FSE:SMK) would like to provide an update on the Company's recent land acquisition and Q1/2018 drill program. Saturn has closed its land acquisition with Whitecap Resources Inc. The Company has acquired one section of land with rights from base Colorado to base Mannville. The acquired section is adjacent to Saturn’s existing land holdings and the Company has licensed its [Read more]
East Duvernay Water Strategy – Show Me The Water!
“Show Me The Money!” is the iconic 90’s catch phrase from the movie ‘Jerry Maguire.' This line also comes to mind when we examine the frac water management opportunity that is unfolding in the East Duvernay Shale Basin. At Connate Water Solutions, in addition to hydrogeology consulting, we internally generate groundwater prospects in areas of high operator demand. Our focus is currently on the shallow bedrock hydrogeology of the emerging Twining/Ghostpine area (Figure 1). As we compile our [Read more]
Two arrested following Trans Mountain pipeline protest in Coquitlam, B.C.
COQUITLAM, B.C. - Two people have been arrested following a protest against the Trans Mountain pipeline in Coquitlam, B.C. RCMP say nine people were peacefully protesting Thursday but police were called in when the protesters began blocking equipment and highway traffic. Protesters said in an email that they "physically intervened" and forced construction to a halt on the Trans Mountain pipeline. RCMP say in a news release that a 22-year-old woman, who locked herself to a [Read more]
Crew Energy Announces 2018 Capital Budget and Strong 2017 Reserves Growth
CALGARY, Alberta, Feb. 08, 2018 (GLOBE NEWSWIRE) -- Crew Energy Inc. (TSX:CR) of Calgary, Alberta (“Crew” or the “Company”) is pleased to provide highlights from our independent corporate reserves evaluation prepared by Sproule Associates Ltd. (“Sproule”) with an effective date of December 31, 2017 (the “Sproule Report”) along with the Company’s 2018 capital expenditure budget, approved by Crew’s Board of Directors. 2018 BUDGET HIGHLIGHTS Fully Funded $80 to $85 Million Capital Budget: [Read more]
Eagle Energy Inc. Announces Sale of its Salt Flat Field in Texas and Reduction of Debt
CALGARY, Alberta, Feb. 08, 2018 (GLOBE NEWSWIRE) -- (TSX:EGL): Eagle Energy Inc. (“Eagle”) is pleased to announce that it has sold its oil and gas interests in the Salt Flat field (the “Salt Flat Field”) located in Caldwell County, Texas for approximately $CA 33.3 million cash, subject to customary post-closing adjustments. The transaction is being simultaneously announced and closed with a private, unaffiliated U.S. company. Eagle will use the net proceeds from the sale of the Salt Flat [Read more]
ARC Resources Ltd. Announces Record 320 Per Cent Replacement of Produced Reserves Through Development Activities in 2017
CALGARY, Feb. 8, 2018 /CNW/ - (ARX - TSX) ARC Resources Ltd. ("ARC") is pleased to report its 2017 year-end reserves and resources information. "2017 marks ARC's largest addition of development reserves in our company's history, having added 145 MMboe of proved plus probable reserves, and replacing 320 per cent of 2017 produced reserves," stated Myron Stadnyk, President and CEO. "Our Montney assets in northeast British Columbia are becoming increasingly significant to our liquids portfolio, [Read more]
ARC Resources Ltd. Reports Record Annual Production and Record Increase to Oil and Gas Reserves
CALGARY, Feb. 8, 2018 /CNW/ - (ARX - TSX) ARC Resources Ltd. ("ARC") is pleased to report its fourth quarter 2017 financial and operating results. Fourth quarter production averaged 133,409 boe per day, net income was $73.9 million ($0.21 per share), and funds from operations totaled $221.1 million ($0.63 per share). ARC's consolidated financial statements and notes ("financial statements"), as well as ARC's Management's Discussion and Analysis ("MD&A") for the years ended December 31, 2017 [Read more]
Conservatives React to Liberal Government’s Environmental and Regulatory Changes
Ottawa, ON – Today, Conservative Shadow Minister for the Environment and Climate Change, the Hon. Ed Fast and Shannon Stubbs, Conservative Shadow Minister for Natural Resources, responded to the release of the Liberals’ proposed Impact Assessment Act and the Canadian Energy Regulator Act. “Since the Liberals were elected in 2015, major capital investments in Canada’s resource sector have significantly declined due to regulatory uncertainty,” said MP Fast. “Now the Liberals are proposing the [Read more]