-- Launches Sale Process for Alberta Viking Assets; Ongoing Discussions with CIC Regarding Disposition of PROP; Plans to Use Any Sale Proceeds to Fund Cardium Growth, Reduce Debt and Buy Back Shares -- CALGARY, April 2, 2018 /CNW/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) ("Obsidian Energy", the "Company", "we", "us" or "our") has retained RBC Capital Markets to explore a potential sale of the Company's Alberta Viking assets and is engaged in ongoing discussions with China Investment [Read more]
Headlines
Encana strengthens its condensate-focused growth plan in the Montney with innovative midstream agreement
CALGARY, Alberta, April 02, 2018 (GLOBE NEWSWIRE) -- (TSX:ECA) (NYSE:ECA) Encana Corporation (Encana) has reached an agreement with Keyera Partnership, a subsidiary of Keyera Corp. (Keyera), under which Keyera will acquire and fund the remaining development of Encana’s Pipestone Liquids Hub and Encana’s planned Pipestone Processing Facility. This agreement provides Encana with an additional 33,000 barrels per day (bbls/d) of net raw condensate processing capacity and 170 million cubic feet [Read more]
Keyera Announces Significant Liquids-Rich Montney Infrastructure Development with Encana
CALGARY, April 2, 2018 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") today announced that it has entered into a 20-year infrastructure development and midstream service agreement (the "Agreement") with Encana Corporation ("Encana") to support their condensate focused Pipestone Montney development near Grande Prairie, Alberta. In a joint effort, Keyera and Encana will develop a liquids hub and a natural gas processing and liquids stabilization plant (together, the "Project"). Under the terms of the [Read more]
Investment outflow from Canada already underway in ‘real time’: RBC head
OTTAWA - The head of one of Canada's largest banks is urging the federal government to stem the flow of investment capital from this country to the United States — because, he warns, it's already leaving in "real time." RBC president and CEO Dave McKay discussed some of his biggest concerns about Canadian competitiveness, particularly those related to recent U.S. tax reforms, during a recent interview. Ottawa has come under pressure from corporate Canada to respond to a U.S. tax overhaul [Read more]
Trump tells another tall tale, this one on the Keystone XL pipeline
WASHINGTON - President Donald Trump has just regaled another audience with a tall tale involving Canada, this one about a conversation involving the Keystone XL pipeline he insists never happened. Spoiler alert: it did happen, in his office, with cameras present to record it. On Thursday, the president claimed to an audience in Ohio that he never heard any gratitude from TransCanada Corp., the company behind the controversial project, after he signed an executive order approving the [Read more]
Strategic Oil & Gas Ltd. Announces Annual and Fourth Quarter 2017 Financial and Operating Results
CALGARY, Alberta, March 29, 2018 (GLOBE NEWSWIRE) -- Strategic Oil & Gas Ltd. (“Strategic” or the “Company”) (TSXV:SOG) is pleased to report financial and operating results for the year and three months ended December 31, 2017. Detailed results and additional information are presented in Strategic's consolidated financial statements and related Management's Discussion and Analysis ("MD&A") which will be available through the Company's website at www.sogoil.com and on SEDAR at [Read more]
Canada Weekly Rig Count Continues Spring Breakup Decline, Down 27 to 134
Western Canada’s fleet of drilling rigs went down 27, amidst spring breakup, to a current count of 134 according to data collected by Baker Hughes for the week of March 29th. From one week ago, Alberta rig counts decreased from 128 to 114, Saskatchewan's rig count decreased from 14 to 6. Oil drilling went from 93 to 71; gas rigs went down from 68 to 63. View a full breakdown of western Canada’s rig activity. [Read more]
Grain railway backlog another reason to expand oil pipeline: Alberta premier
LETHBRIDGE, Alta. - Alberta Premier Rachel Notley says Canada will continue to have trouble moving grain across the country unless more oil pipelines are built. Notley says moving oil by rail means there are fewer trains to ship grain for export. Grain shipments in Canada have been delayed for the second time in four years as railways grapple with a larger-than-expected grain crop and extreme winter weather. Saskatchewan Premier Scott Moe has said producers are struggling [Read more]
U.S. oil drillers cut rigs for first week in three
U.S. energy companies this week cut oil rigs for the first time in three weeks even as crude prices hover near three-year highs. Drillers cut six oil rigs in the week to March 29, bringing the total count down to 798, General Electric Co's Baker Hughes energy services firm said in its closely followed report on Thursday. Baker Hughes published its North American rig count report on Thursday, one day earlier than usual, due to the Good Friday holiday on March 30. The U.S. rig count, an [Read more]
New shipment of Canadian LNG to set sail to meet growing Chinese demand
SURREY, BC, March 29, 2018 /CNW/ - China's desire for liquefied natural gas is growing and China Energy Reserve and Chemicals Group is working with FortisBC to export Canadian LNG to help meet that demand. Twenty LNG containers are currently being filled for CERCG at FortisBC's Tilbury facility and will set sail for China shortly. More LNG shipments are being planned throughout 2018 to help CERCG meet the energy needs of its customers with a lower carbon alternative to more traditional [Read more]