The oil industry's biggest names gather this week at CERAWeek, the largest energy industry get-together in the Americas, at a time when U.S. shale production is booming, global demand is rising and crude prices are at a sweet spot for both big U.S. producers and OPEC. Last year's decision by the Organization of the Petroleum Exporting Countries to restrain output has drained the global glut that occupied much of the conversation at 2017's gathering.With oil prices up about 15 percent since [Read more]
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Column: North American oil independence is worth celebrating
If you’re in the Canadian Petroleum Industry, it’s hard not to get discouraged by recent news. Competitive disadvantages like Carbon taxes and over-regulation are diverting investment to friendlier jurisdictions like Texas. Politicians fail to appreciate the importance of petroleum energy, and apathetically stand aside as protestors pester pipeline projects to death. Infrastructure constraints have hurt the economics of landlocked areas as price differentials blow out due to transportation [Read more]
How do actual state production volumes stack up against EIA weekly and monthly production estimates?
In a previous article I wrote, I reckoned, based on thirty-five years of experience, that the EIA estimates were too optimistic. This thesis was borne out of comments made by IEA boss Fatih Birol. Birol was quoted as saying US oil production grew by 864,000 barrels per day, according to weekly estimates, since October 2017. It was actually only 658,000 barrels per day from November 1, until the first week of February according to the weekly EIA reports. When I heard what Birol said, my [Read more]
Oilfield services directory RiggerTalk.com launches new website
RiggerTalk.com is pleased to announce and is inviting visitors to explore its new website. The new website has been designed to operate faster on its mobile application, provide the ultimate user-friendly experience with improved navigation and functionality throughout, and allow members to easily access detailed oilfield services directory information. New features include hotels being added to the map complementing the oilfield services directory. Riggertalk from 5 Star Media Group [Read more]
Questerre to develop Kakwa North acreage with partner
THIS NEWS RELEASE IS NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES OF AMERICA TO UNITED STATES NEWSWIRE SERVICES OR UNITED STATES PERSONS CALGARY, Alberta, March 05, 2018 (GLOBE NEWSWIRE) -- Questerre Energy Corporation (“Questerre” or the “Company”) (TSX:QEC) (OSE:QEC) announced today that it has entered into an agreement with an experienced operator to develop its 100% acreage in the Kakwa area. Michael Binnion, President and Chief Executive Officer of Questerre, commented, [Read more]
Canada Weekly Rig Count Down 4 to 302
Western Canada’s fleet of drilling rigs went down 4 rigs to the current count of 302 actively drilling rigs according to data collected by Baker Hughes for the week of March 2nd. From one week ago, Alberta rig counts decreased from 209 to 208, the Saskatchewan rig count decreased from 66 to 62. Oil drilling went from 209 to 211; gas rigs went down from 97 to 91. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. drillers add oil rigs for 6th consecutive week
U.S. energy companies added oil rigs for a sixth week in a row as crude prices hovered near three-year highs, prompting more drillers to boost their spending plans for 2018. Drillers added 1 oil rig in the week to March 2, bringing the total count to 800, the highest level since April 2015,General Electric Co's Baker Hughes energy services firm said in its closely followed report on Friday. That was the first time since June that drillers added rigs for six consecutive weeks. They added [Read more]
Storm Resources Ltd. (“Storm” or the “Company”) is Pleased to Announce Its Financial and Operating Results for the Three Months and Year Ended December 31, 2017
CALGARY, Alberta, March 01, 2018 (GLOBE NEWSWIRE) -- Storm Resources Ltd. (TSX:SRX) Storm has also filed its audited consolidated financial statements as at December 31, 2017 and for the three months and year then ended along with Management’s Discussion and Analysis (“MD&A”) for the same periods. This information appears on SEDAR at www.sedar.com and on Storm’s website at www.stormresourcesltd.com. Selected financial and operating information for the three months and year ended December [Read more]
Questfire Energy Corp. Receivership Sale
PricewaterhouseCoopers Inc., LIT (“PwC”), in its capacity as Court appointed Receiver and Manager of Questfire Energy Corp. (“Questfire”), is seeking offers to purchase all or any part of the assets of Questfire and has retained Peters & Co. Limited (“Peters & Co.”) as its exclusive marketing agent to assist in this process. Questfire’s joint venture with Stream Asset Financial Questfire LP has been collapsed, with Questfire retaining ownership of the Lookout Butte and Medicine Hat [Read more]
Canada’s First Nations seek bigger stakes, profits from oil sector
Canada's First Nationsare boosting investments and leveraging their clout withregulators to gain stakes in oil and gas projects as they seekgreater returns on energy produced or transported across theirterritory.Aboriginal groups in Canada have traditionally played a morepassive role in the energy industry, collecting royalties fromoil and gas output. That model is changing as some indigenousgroups buy oil wells and negotiate ownership stakes in proposedpipelines and storage projects. [Read more]