TSX Venture Exchange: IKM-V - CALGARY, April 3, 2018 /CNW/ - Ikkuma Resources Corp. ("Ikkuma" or the "Corporation") is pleased to announce its 2017 year-end reserves and other news. 2017 Reserve Highlights Increased Proved Developed Producing ("PDP") reserves by 316% to 56.8 MMBOE at December 31, 2017 from 13.6 MMBOE at December 31, 2016; Increased PDP net present value to $301 million ($2.75 per share) at year-end 2017 at a 10% discount rate using a consensus price deck from four [Read more]
Headlines
Canadian Energy Executive Association: Have We Lost You?
Hedge fund oil bulls downplay macro risks: Kemp
LONDON, April 3 (Reuters) - Hedge fund managers have turned bullish again towards oil prices, casting aside the caution that prevailed during much of February and March. Hedge funds and other money managers increased their net long position in the six most important futures and options contracts linked to petroleum prices by 85 million barrels in the week to March 27. Portfolio managers have increased their net long position in Brent, NYMEX and ICE West Texas Intermediate crude, U.S. [Read more]
Regulator suspends oil and gas firm’s licences after emergency number unattended
CALGARY - The Alberta Energy Regulator says it has suspended the licences of an oil and gas producer after no one answered its 1-800 emergency phone line when one of its hydrocarbon handling facilities appeared to be leaking. In a notice on its website, the regulator says it has yanked licences for nearly 30 wells, a similar number of pipeline segments and four facilities from Insch Commodity Ltd., a Warburg, Alta.-based company. It says the apparent leak was reported in an anonymous call [Read more]
ConocoPhillips Provides Update on Disposition Program and Recent Acreage Additions
HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) today provided several updates on disposition activity and early life-cycle acreage acquisition activities. In the first quarter of 2018, the company closed or entered definitive agreements for approximately $250 million of proceeds from the sale of non-core assets. Several small packages in the Permian Basin closed during the quarter. A package of largely undeveloped acreage in South Texas is expected to close in the second quarter. [Read more]
Obsidian Energy Announces Strategic Actions to Unlock Shareholder Value
-- Launches Sale Process for Alberta Viking Assets; Ongoing Discussions with CIC Regarding Disposition of PROP; Plans to Use Any Sale Proceeds to Fund Cardium Growth, Reduce Debt and Buy Back Shares -- CALGARY, April 2, 2018 /CNW/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) ("Obsidian Energy", the "Company", "we", "us" or "our") has retained RBC Capital Markets to explore a potential sale of the Company's Alberta Viking assets and is engaged in ongoing discussions with China Investment [Read more]
Encana strengthens its condensate-focused growth plan in the Montney with innovative midstream agreement
CALGARY, Alberta, April 02, 2018 (GLOBE NEWSWIRE) -- (TSX:ECA) (NYSE:ECA) Encana Corporation (Encana) has reached an agreement with Keyera Partnership, a subsidiary of Keyera Corp. (Keyera), under which Keyera will acquire and fund the remaining development of Encana’s Pipestone Liquids Hub and Encana’s planned Pipestone Processing Facility. This agreement provides Encana with an additional 33,000 barrels per day (bbls/d) of net raw condensate processing capacity and 170 million cubic feet [Read more]
Keyera Announces Significant Liquids-Rich Montney Infrastructure Development with Encana
CALGARY, April 2, 2018 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") today announced that it has entered into a 20-year infrastructure development and midstream service agreement (the "Agreement") with Encana Corporation ("Encana") to support their condensate focused Pipestone Montney development near Grande Prairie, Alberta. In a joint effort, Keyera and Encana will develop a liquids hub and a natural gas processing and liquids stabilization plant (together, the "Project"). Under the terms of the [Read more]
Investment outflow from Canada already underway in ‘real time’: RBC head
OTTAWA - The head of one of Canada's largest banks is urging the federal government to stem the flow of investment capital from this country to the United States — because, he warns, it's already leaving in "real time." RBC president and CEO Dave McKay discussed some of his biggest concerns about Canadian competitiveness, particularly those related to recent U.S. tax reforms, during a recent interview. Ottawa has come under pressure from corporate Canada to respond to a U.S. tax overhaul [Read more]
Trump tells another tall tale, this one on the Keystone XL pipeline
WASHINGTON - President Donald Trump has just regaled another audience with a tall tale involving Canada, this one about a conversation involving the Keystone XL pipeline he insists never happened. Spoiler alert: it did happen, in his office, with cameras present to record it. On Thursday, the president claimed to an audience in Ohio that he never heard any gratitude from TransCanada Corp., the company behind the controversial project, after he signed an executive order approving the [Read more]