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]
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Leucrotta Announces Update on Operations and Financial Position
CALGARY, Alberta, Jan. 23, 2018 (GLOBE NEWSWIRE) -- Leucrotta Exploration Inc. (“Leucrotta” or the “Company”) (TSXV - LXE) is pleased to announce the following update: PRODUCTION ON 9-33, A8-22 AND 8-4 LOWER MONTNEY TURBIDITE OIL WELLS AND 4-12 LOWER MONTNEY TURBIDITE LIQUIDS RICH GAS WELL During 2017, Leucrotta started to experiment with higher intensity fracs with several wells moving from the standard Leucrotta type curve well of 28 fracs used in 2016 to up to 51 stages used in the 9-33 [Read more]
Journey Energy Inc. Announces Repurchase of 24.8% of its Outstanding Common Shares, Purchase of Duvernay Lands and Updates 2018 Guidance
CALGARY, Jan. 22, 2018 /CNW/ - Journey Energy Inc. (JOY – TSX) ("Journey" or the "Company") announces that it will purchase 12.7 million of its outstanding shares from its largest shareholder, MIE Maple Investments Limited ("MIE") for cancellation. Journey is also providing an update on 2018 activities, including new guidance, and announcing the accumulation of a material land position in an emerging Duvernay resource play. 12.7 Million Share Repurchase for Cancellation After a review of [Read more]
National Energy Board denies application from Maritimes & Northeast Pipeline for a new pipeline service and toll
CALGARY, Jan. 22, 2018 /CNW/ - The National Energy Board (NEB) has denied an application from Maritimes & Northeast Pipeline (M&NP) for approval of a new pipeline service and toll. M&NP had offered a "load retention" service and discounted rate to Irving Oil in exchange for a 13-year commitment to use the M&NP Pipeline to ship up to 68,579 gigajoules per day (GJ/d) of natural gas from the Canada/U.S. border in St. Stephen, NB to the Irving Oil Refinery and cogeneration [Read more]
The US exports natural gas in every direction; Canada’s comatose single market strategy squanders a vital national resource
Legend has it that a well-known saying originated in an American inquiry into a major transportation incident. As the story goes, a farmer was testifying about an accident he witnessed while out working in the fields. A head-on collision between two trains occurred right in front of him. In trying to get to the bottom of exactly what happened, the farmer was asked what his thoughts were immediately following the accident. He said, “Well, I thought that’s a hell of a way to run a [Read more]
PNG Exchange New Properties & Equipment Listings
PNG Exchange New Properties Intermediate E&P – East Shale Basin Duvernay Blackspur Oil Corp. – Warburg Duvernay, Princess Detrital & Banff, Reagan Livingstone & Bakken, Warburg Cardium & Belly River, Suffield Lithic Glauconitic, Cessford Ellerslie, Enchant Lithic Glauconitic & Arcs, Verger Regional Glauconitic, Rich/Mikwan Nisku & Winnipegosis Orlen Upstream Canada – Strachan, Wapiti, Pinto, Chime Forge Oil & Gas Limited – Leduc Woodbend, [Read more]
InPlay Oil Corp. Announces 2018 Capital Budget of $38 Million Generating Light Oil Production Growth of Over 23%
CALGARY, Alberta, Jan. 22, 2018 (GLOBE NEWSWIRE) -- InPlay Oil Corp. ("InPlay" or “the Company”) (TSX:IPO) (OTCQX:IPOOF) is pleased to announce that its Board of Directors has approved a $38 million Exploration and Development capital program for 2018 which is forecasted to deliver over 23% average light oil production per share growth in 2018 over 2017. This organic production increase is expected to deliver top quartile light oil production per share growth in the industry. 2018 Budget [Read more]
Cryptocurrency Mining Operation Launched by Oil and Gas Producer Iron Bridge Resources
CALGARY, Alberta, Jan. 22, 2018 (GLOBE NEWSWIRE) -- Iron Bridge Resources Inc. (“Iron Bridge”, “IBR” or the "Company") (TSX:IBR) is pleased to announce the formation and launch of a wholly-owned cryptocurrency mining and hosting operation called Iron Chain Technology Corp. (“ICT”). ICT will own and operate cryptocurrency mining datacenters at Canadian oil and gas field sites, taking advantage of cheap, clean burning natural gas to generate its own electricity. As a result of this structure and [Read more]
Enbridge Inc. and Spectra Energy Partners, LP Announce Definitive Agreement and Completion of the Elimination of Incentive Distribution Rights
CALGARY, Jan. 22, 2018 /PRNewswire/ - Enbridge Inc. (Enbridge or the Company) (TSX:ENB)(NYSE:ENB) and Spectra Energy Partners, LP (SEP) (NYSE:SEP) today announced execution of a definitive agreement, resulting in Enbridge converting all of its incentive distribution rights (IDRs) and general partner (GP) economic interests in SEP into 172.5 million newly issued SEP common units. As part of the transaction, all of the IDRs have been eliminated. The 172.5 million newly issued SEP common units have [Read more]
Razor Energy Corp. Announces 2018 Corporate Budget and Guidance
CALGARY, ALBERTA--(Marketwired - Jan. 22, 2018) - Razor Energy Corp. ("Razor" or the "Company") (TSX VENTURE:RZE) (www.razor-energy.com) is pleased to announce that its Board of Directors (the "Board") have approved an acquisition, development and operations budget of $38.4 million for fiscal 2018. The diversity of the budget provides for capital allocation towards highly economic production growth in addition to long term operational and technological investments in power generation and [Read more]