CALGARY, Alberta, Jan. 16, 2018 (GLOBE NEWSWIRE) -- Delphi Energy Corp. (“Delphi” or the “Company”) is pleased to provide an operations update. Q4 2017 production up 29% from a year earlierQ4 2017 condensate production up 67% from a year earlier2017 capital program executed within budgetQ4 realized natural gas price estimated to be Cdn$3.53 per mcf compared to AECO pricing of Cdn$1.69 per mcfPositive recent well results on frac innovations First West Bigstone well in six years now drilled [Read more]
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Cona Resources Ltd. Announces Debt Reduction and Asset Disposition Program
CALGARY, Jan. 16, 2018 /CNW/ - Cona Resources Ltd. ("Cona" or the "Company") (TSX: CONA) is pleased to announce debt reduction and a certain asset disposition program. Cona's operations are supported by the Company's financial flexibility. Cona's capital structure includes a $325.0 million credit facility and a term loan that matures on July 28, 2020. At December 31, 2017, $188.4 million was drawn on the Company's credit facility and, during the fourth quarter of 2017, Cona [Read more]
Petrochemical Development in Alberta – Developing New Demand for Propane
Two new petrochemical projects for the Alberta Industrial Heartland region will qualify for up to $500 million in royalty credits under Alberta's Petrochemicals Diversification Program announced on Dec 5th 2016. Both projects will convert propane extracted from natural gas into value-added plastic products. What does this initiative mean for Natural Gas producers? With Alberta & BC Natural Gas and NGL supply growth being driven by unconventional plays like the Montney & the Duvernay , [Read more]
Enerplus Announces Fourth Quarter 2017 Production and Provides Expected Impact of U.S. Tax Changes
CALGARY, Jan. 16, 2018 /CNW/ - Enerplus Corporation ("Enerplus" or the "Company") (TSX & NYSE: ERF) today announced that production for the fourth quarter of 2017 was approximately 88,600 BOE per day, above its fourth quarter guidance range of 86,000 to 88,000 BOE per day, and an increase of 12% from the third quarter of 2017. The Company's crude oil and natural gas liquids production averaged approximately 46,750 barrels per day in the fourth quarter, also above its fourth quarter guidance [Read more]
Goldman Sachs sees likelihood crude prices will exceed forecasts
Goldman Sachs said on Tuesday that crude oil prices are likely to exceed its forecasts for the coming months due to rising demand and strong compliance to a production cuts. The investment bank sees Brent and West Texas Intermediate average price forecasts at $62 and $57.5 per barrel for 2018, respectively. Brent crude prices consolidated recent gains at around $70 a barrel on Tuesday, a level not seen since 2014’s dramatic oil market slump. Oil has been pushed higher by an effort led [Read more]
U.S. oil industry set to break record, upend global trade
HOUSTON (Reuters) - Surging shale production is poised to push U.S. oil output to more than 10 million barrels per day - toppling a record set in 1970 and crossing a threshold few could have imagined even a decade ago. And this new record, expected within days, likely won’t last long. The U.S. government forecasts that the nation’s production will climb to 11 million barrels a day by late 2019, a level that would rival Russia, the world’s top producer. The economic and political impacts of [Read more]
Obsidian Energy Announces Full Year 2017 Production Above Guidance & Provides Operational Update
CALGARY, Jan. 15, 2018 /PRNewswire/ - OBSIDIAN ENERGY LTD. (TSX/NYSE – OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to confirm full year 2017 production ahead of guidance and provide an operational update, including preliminary results from our four well pad in Willesden Green. David French, President & CEO commented, "2017 was a great year for Obsidian Energy. We repositioned the development portfolio, effectively responded to a volatile commodity and currency [Read more]
Razor Energy Corp. Announces Consolidation Acquisition in the Kaybob Area of West Central Alberta and Increased Term Loan Facility
CALGARY, ALBERTA--(Marketwired - Jan. 15, 2018) - Razor Energy Corp. ("Razor" or the "Company") (TSX VENTURE:RZE) (www.razor-energy.com) is pleased to announce that it has completed the acquisition of certain non-operated working interest positions to consolidate its existing Kaybob Triassic Units 1 and 2 from an arm's length company (the "Kaybob Assets") for cash consideration of $4.9 million, subject to customary adjustments (the "Acquisition"). The Kaybob Assets are characterized by low [Read more]
Keyera Announces the startup of the Base Line Terminal
CALGARY, Jan. 15, 2018 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") today announced the startup of the Base Line Terminal (the "Terminal"), an above-ground crude oil storage terminal adjacent to its Alberta EnviroFuels facility near Edmonton, Alberta. The first four tanks are now in service with the remaining eight tanks expected to be phased into service throughout 2018. The Terminal is a 50-50 joint venture in affiliation with Kinder Morgan Canada Limited (TSX:KML) ("Kinder Morgan") and will [Read more]
Kinder Morgan Announces Commencement of Operations at the 4.8 Million Barrel Base Line Terminal
CALGARY, Jan. 15, 2018 /CNW/ - Kinder Morgan Canada Limited (TSX: KML) today announces the commencement of service for the first four of twelve crude oil storage tanks at Base Line Terminal, a 50-50 crude oil merchant terminal joint venture with Keyera (TSX: KEY) in Sherwood Park, Alberta (near Edmonton). The remaining eight tanks at the facility, all twelve of which are fully-contracted with long-term, firm take-or-pay agreements with creditworthy customers, are expected to be phased into [Read more]