TSX-V: HME - VANCOUVER, Feb. 21, 2018 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") is pleased to announce that it has commenced its winter development drilling program in Atlee Buffalo, southeast Alberta. Hemisphere has begun its three-well drilling program in Atlee Buffalo, which includes one producer and two injectors. All three of these wells are located in the Upper Mannville G pool where the Company recently constructed a centralized oil facility to [Read more]
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Relentless Resources Announces Recapitalization Financing, Addition of a New Board Member and Pursuit of Acquisition Opportunities in the Cannabis Industry
TSX-Venture Exchange: RRL - CALGARY, Feb. 21, 2018 /CNW/ - Relentless Resources Ltd. ("Relentless" or the "Company") is pleased to announce: (i) a non-brokered private placement of up to an aggregate of $7.5million (the "Private Placement"); (ii) the appointment of Mr. Stanley J. Swiatek to the board of directors in connection with the completion of the Private Placement; and (iii) subject to regulatory approval, a rights offering (the "Rights Offering", and collectively with the Private [Read more]
Cona Resources Ltd. Announces 2017 Year-End Reserves Information
CALGARY, Feb. 21, 2018 /CNW/ - Cona Resources Ltd. ("Cona" or the "Company") (TSX: CONA) announces its 2017 year-end reserves information. Cona's year-end 2017 reserves are indicative of the Company's unique low decline, high quality oil-weighted asset base. With over 90% of the Company's production under natural water drive, waterflood, polymer flood or steam assisted gravity drainage ("SAGD"), we have been able to grow our reserves base while spending only 64% of our 2017 funds from [Read more]
Toscana Energy Announces 2017 Reserves and Review of Strategic Alternatives
CALGARY, Alberta, Feb. 20, 2018 (GLOBE NEWSWIRE) -- Toscana Energy Income Corporation ("Toscana" or the "Corporation") (TSX:TEI) announces the Corporation’s 2017 year-end reserves and the decision by the Board of Directors of the Corporation to commence a review of strategic alternatives in respect of the Corporation to enhance shareholder value. 2017 Highlights Continued to grow high quality, long life, low decline asset base with forecast decline of 5%.Proved Developed Producing (PDP) [Read more]
Surge Announces Approval of Normal Course Issuer Bid
CALGARY, Feb. 20, 2018 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) is pleased to announce that the Toronto Stock Exchange (the "TSX") has accepted Surge's notice of intention to make a normal course issuer bid for its outstanding common shares in accordance with the rules and policies of the TSX. Surge believes that the market price of its common shares, in today's current oil price environment, does not accurately reflect their underlying value, making the [Read more]
Pengrowth Announces the Planned Retirement of Current CEO Derek Evans and the Pending Appointment of Peter Sametz as President and CEO
CALGARY, Alberta, Feb. 20, 2018 (GLOBE NEWSWIRE) -- Pengrowth Energy Corporation (TSX:PGF) (NYSE:PGH) today announced the appointment of Mr. Peter D. (“Pete”) Sametz as President and Chief Executive Officer and member of the Board of Directors effective March 15th, 2018. Peter replaces Derek Evans who will be retiring as an officer and director of the company on March 14th, 2018. Derek will continue in a transitional advisory role reporting to the Board Chair until June 30th, 2018 to provide [Read more]
Confused by EIA Production Estimates? Join the Club
Fatih Birol, Chairman of the International Energy Agency was recently 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) and that it was astonishing. The comment was made after the EIA reported a weekly increase of 332,0000 barrels per day in the Feb 7, 2018 weekly Petroleum Status Report. The definition of astonishing is “extremely [Read more]
New Oil and Gas Jobs From BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Feb. 19 Construction Technician TransCanada Spruce Grove Feb. 18 Heavy Duty Mechanic Calfrac Well Services Grande Prairie Feb. 18 Heavy Duty Mechanic Calfrac [Read more]
Alberta shrugs off B.C. legal challenge on wine ban, says much more at stake
EDMONTON - The full costs of the action can be charged to the losing province and if the province doesn't fix the problem within the time set out by the panel, it can be fined up to $10 million. -- Alberta's economic development minister is shrugging off a legal challenge filed by British Columbia over Alberta's ban on B.C. wine. Deron Bilous says the potential fine Alberta faces for violating free trade rules is a pittance when set against the stakes of the Trans Mountain [Read more]
Scotiabank says pipeline constraints to cost economy $10.7 billion in 2018
CALGARY - Delayed oil pipeline construction is causing a steep discount for Canadian crude prices that is costing the economy roughly $15.6 billion a year, according to Scotiabank. "Pipeline approval delays have imposed clear, demonstrable and substantial economic costs on the Canadian economy," said bank chief economist Jean-Francois Perrault in a report Tuesday. The discount, however, is expected to ease through the year as more rail capacity becomes available to ship oil, [Read more]