Gryphon Petroleum Corp. (“Gryphon” or the “Company”) has engaged Sayer Energy Advisors to assist it with the sale of its high working interest sweet light oil property in the Trout area of northern Alberta (the “Property”). At Trout, Gryphon operates and holds working interests of 64-100% in nine producing Keg River/Granite Wash oil wells and a royalty interest in a tenth producing oil well. The Company also operates two water disposal wells on the Property, with working interests of 47% and [Read more]
Headlines
ConocoPhillips Announces Cash Tender Offer For up to $400 Million of Debt Securities
HOUSTON--(BUSINESS WIRE)--ConocoPhillips (NYSE: COP) announced today that ConocoPhillips and its wholly-owned subsidiary, ConocoPhillips Company (“CPCo”) have commenced a cash tender offer (the “Tender Offer”) to purchase up to $400 million in aggregate principal amount (the “Maximum Tender Offer Amount”) of outstanding notes listed in the table below (collectively, the “Notes” and each a “Series” of Notes), in the order of priority shown in the table [Read more]
Suncor Energy announces change to Syncrude turnaround timing and provides overall Suncor production update
CALGARY, Alberta, March 14, 2018 (GLOBE NEWSWIRE) -- Suncor today announced that the Syncrude maintenance turnaround originally scheduled to begin in April, will be moved up by approximately one month. On March 15, Syncrude plans to begin an eight-week turnaround, which was originally scheduled to begin in April. Advancing the turnaround will permit Syncrude to address an unrelated issue which has been constraining capacity on a line that feeds bitumen from the mine to the upgrader. Executing [Read more]
Oil majors give in to investors with share buyback spree
(Reuters) - After almost three barren years for investors who have poured millions into the U.S. oil sector, producers are finally opening the floodgates to a wave of share buybacks that will return money to shareholders this year. U.S. oil production topped 10 million barrels per day earlier this year, approaching a record set in 1970, but until recently many investors in the shale oil revolution were still waiting for their payday. (here) Since the beginning of year, 11 companies have [Read more]
Oil market shrugs off rising threat to Iran deal: Kemp
LONDON (Reuters) - President Donald Trump’s decision to replace his secretary of state with a more hawkish figure should have been bullish for oil prices since it increases the probability the nuclear deal with Iran will be abandoned in May. Failure to recertify the deal could lead to the re-imposition of secondary sanctions and pressure from the United States on other countries to reduce their purchases of Iranian crude again. But the decision to replace the secretary of state barely [Read more]
Private oil and gas company looking for drilling-ready prospects for 2018 drilling campaign
A private company with existing operation in Alberta is seeking for drilling-ready prospects for its 2018 drilling program. Medium-light oil, relatively shallow, high working interest and large inventory of locations are preferred. Transaction could be done in cash or GOR. Interested party please send email to 2018drilling@gmail.com and the company information will be provided in person. [Read more]
Journey Energy Inc. Reports its 2017 Financial Results
CALGARY, March 13, 2018 /CNW/ - Journey Energy Inc. (JOY – TSX) ("Journey" or the "Company") is pleased to announce its financial results for 2017. The complete set of financial statements and management discussion and analysis for the year ended December 31, 2017 are posted on www.sedar.com and on the Company's website www.journeyenergy.ca. Highlights for the fourth quarter of 2017 were: Realized funds flow of $9.8 million in the fourth quarter, an 18% increase over the $8.4 million in [Read more]
Marquee Energy Ltd. Announces Commencement of Strategic Alternatives Process
CALGARY, March 13, 2018 /CNW/ - Marquee Energy Ltd. ("Marquee" or the "Company") (TSXV: "MQX") announces commencement of a review of strategic alternatives to enhance shareholder value. Marquee's Board of Directors has determined it is timely, prudent and in the best interests of the Company and its stakeholders to commence a formal process to explore strategic alternatives. Such strategic alternatives may include, but are not limited to, a corporate sale, merger or other business [Read more]
Pine Cliff Energy Ltd. Announces Annual 2017 Results and Filing of 2017 Disclosure Documents
CALGARY, Alberta, March 13, 2018 (GLOBE NEWSWIRE) -- Pine Cliff Energy Ltd. (“Pine Cliff” or the “Company”) (TSX:PNE) is pleased to announce its year-end financial and operating results and the filing of its 2017 disclosure documents. Included in the filings were Pine Cliff's annual information form (“AIF”), which includes disclosure and reports related to reserves data and other oil and gas information pursuant to National Instrument 51‐101 Standards of Disclosure for Oil and Gas Activities [Read more]
Heavy crude discount inches wider as surplus weighs
The Canadian heavy oil discount widened slightly on Tuesday against the West Texas Intermediate (WTI)benchmark as growing crude stockpiles continued to exceed capacity to move product out of the oil-rich province ofAlberta. Western Canada Select (WCS) heavy blend crude for April delivery in Hardisty, Alberta, settled at $25.50 a barrel below the WTI benchmark crude price, according to Shorcan Energy brokers, compared with Monday's settle of $25.25. Concerns over growing surplus in the [Read more]