ST. JOHN'S, N.L. - The Newfoundland and Labrador government has delivered some encouraging news about its potential offshore oil and gas resources, saying new seismic data is pointing to huge reserves in West Orphan Basin. Premier Dwight Ball announced Wednesday that an independent assessment of nine parcels in the basin found they could contain 25.5 billion barrels of oil and 20.6 trillion cubic feet of gas. The Canada-Newfoundland and Labrador Offshore Petroleum Board, which [Read more]
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NEB to consider response to bias perceptions on Energy East panel
CALGARY - The National Energy Board says it is accepting written comments on motions calling for two of three people to step down from a panel reviewing the Energy East Pipeline over perceptions of bias. The move follows revelations, first reported by the National Observer, that panel members Jacques Gauthier and Lyne Mercier met privately with Jean Charest early last year while he was a consultant for TransCanada (TSX:TRP), the company behind the $15.7-billion Energy East project. [Read more]
Prince Albert lifts water restrictions in place after Husky oil spill
PRINCE ALBERT, Sask. - All water restrictions have been lifted in a city that was forced to close its water intakes after an oil spill on the North Saskatchewan River. The city of Prince Albert says it's confident there is ample supply from two temporary water pipelines, so residents can start watering lawns, washing vehicles and filling pools. People were told to conserve water after a Husky Energy pipeline leak last month spilled up to 250,000 litres of oil mixed with a lighter [Read more]
Why oil prices are definitely maybe going to rise
Oftentimes, a simple question leads to a complex answer. A great example of this would be the question: is the price of oil going to go up or down? Obviously, there are only three possible answers to this question - up, down, neither. Granted, those three answers aren't that complex, but most likely, the person asking the question will want to know how the person arrived at their answer. It is at this point where complexity will almost always rear its ugly head. Keep in mind that if the [Read more]
BOE Report Podcast Episode 11
On this episode of the BOE Report podcast, Terry and Josh talk about BC's gas production, its LNG prospects and what Alberta can or should do to spur development. The pair also talk OPEC and recent oil price movements. Get episode on Google Play | iTunes | RSS On the Show Terry Etam Josh Groberman Topics Should Alberta play hardball with BC gas production? OPEC's strategy [Read more]
Spartan Energy Corp. Announces Exercise of Over-Allotment Option and Completion of $80.8 Million Equity Financing
CALGARY, ALBERTA--(Marketwired - Aug. 24, 2016) - Spartan Energy Corp. (TSX:SPE) is pleased to announce that it has closed its previously announced bought-deal financing of 25,415,000 common shares ("Common Shares"), which includes the exercise in full of the over-allotment option of 3,315,000 Common Shares, at a price of $3.18 per Common Share for aggregate gross proceeds of approximately $80.8 million. The syndicate of underwriters was co-led by Peters & Co. Limited, GMP Securities L.P. [Read more]
Alberta Oilsands Inc. Responds to Smoothwater Capital Corporation and Announces Postponement of Annual General Meeting
CALGARY, ALBERTA--(Marketwired - Aug. 23, 2016) - Alberta Oilsands Inc. ("AOS" or the "Corporation") (TSX VENTURE:AOS) wishes to clarify certain allegations made by Smoothwater Capital Corporation ("Smoothwater"), as well as provide an update on the annual general meeting of the Corporation originally scheduled for September 23, 2016. SMOOTHWATER ALLEGATIONS On August 21, 2016, Smoothwater issued a press release expressing their disapproval of the Corporation's acquisition of Marquee (the [Read more]
PetroShale Announces Financial and Operating Results for Second Quarter 2016
CALGARY, ALBERTA--(Marketwired - Aug. 23, 2016) - PetroShale Inc. ("PetroShale" or the "Company") (TSX VENTURE:PSH)(OTCQX:PSHIF) is pleased to announce its financial and operating results for the second quarter ended June 30, 2016. The Company's unaudited consolidated financial statements and corresponding Management's Discussion and Analysis (MD&A) for the three and six month periods ended June 30, 2016 are available on SEDAR at www.sedar.com, on the OTCQX website at www.otcqx.com, and on [Read more]
Ironhorse Announces Q2 2016 Financial and Operating Results
CALGARY, Aug. 23, 2016 /CNW/ - Ironhorse Oil & Gas Inc. ("Ironhorse" or the "Company") (TSX-V: IOG) announces its financial and operating results for the three and six months ended June 30, 2016. Financial and Operation Summary The Company's reported production has decreased 85% to 10 boe/d in the second quarter of 2016 from 67 boe/d produced in the first quarter of 2016. The decrease in production is attributed to the Pembina L2L Pool shut in of production on January 19, 2016. As a [Read more]
Bank of Montreal sees profit rise despite rise in oilpatch loan losses
TORONTO - The Bank of Montreal, the first of Canada's big banks to report its third-quarter results, saw profits grow by four per cent in what one analyst says could be a signal that concerns over rising loan losses in the oilpatch may be overblown. BMO (TSX:BMO) reported net income of $1.25 billion during the quarter, up from $1.19 billion during the comparable three-month period ended July 31. On a per share basis, BMO's earnings amounted to $1.86, compared with $1.80 during [Read more]