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]
Headlines
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]
Vermilion Energy Inc. Announces Acquisition of Oil Assets in Southeast Saskatchewan and Southwest Manitoba
CALGARY, Jan. 15, 2018 /CNW/ - Vermilion Energy Inc. ("Vermilion", the "Company", "We" or "Our") (TSX, NYSE: VET) is pleased to announce that we have entered into an arrangement agreement (the "Arrangement") to acquire a private southeast Saskatchewan producer ("Privateco") for total cash consideration of $90.8 million (the "Purchase Price"). Under the terms of the Arrangement, Vermilion has agreed to acquire (the "Acquisition") all of the issued and outstanding common shares ("Privateco [Read more]
Oil hovers near $64/Bbl, clouded by rise in U.S. output
Oil hovered near $64 a barrel on Monday on signs that production cuts by OPEC and Russia are tightening supplies, but analysts warned of “red flags” due to surging U.S. production. U.S. West Texas Intermediate (WTI) crude futures were unchanged at $64.30 a barrel. Trading was relatively slow due to a national holiday in the United States. International benchmark Brent crude futures were trading 12 cents lower at $69.75, having risen above $70 earlier in the session. A [Read more]
Tamarack Valley Energy Ltd. Announces 2018 Guidance, Operational Update and Record Fourth Quarter 2017 Production
CALGARY, Alberta, Jan. 15, 2018 (GLOBE NEWSWIRE) -- Tamarack Valley Energy Ltd. (TSX:TVE) (“Tamarack” or the “Company”) is pleased to announce its 2018 capital budget and full year guidance, along with an operational update, including record fourth quarter production volumes and a meaningful increase in oil weighting which is expected to continue through 2018. Based on December field numbers, the Company estimates its Q4/17 production averaged over 22,600 boe/d with an oil and liquids [Read more]