CALGARY, March 23, 2018 /CNW/ - Canbriam Energy (Canbriam) announced today that it has successfully closed the previously announced transaction with Suncor Energy Inc. (Suncor) to exchange all of Suncor's northeast British Columbia mineral land holdings and consideration of $52 million for a 37 percent equity interest in Canbriam. "We are pleased to close this acquisition and look forward to the seamless integration of the additional Montney lands into our operations." said Paul Myers, [Read more]
Headlines
Canada Weekly Rig Count Down 58 to 161
Western Canada’s fleet of drilling rigs went down 58 rigs to the current count of 161 actively drilling rigs according to data collected by Baker Hughes for the week of March 23rd. From one week ago, Alberta rig counts decreased from 157 to 128, the Saskatchewan rig count decreased from 35 to 14. Oil drilling went from 144 to 93; gas rigs went down from 75 to 68. View a full breakdown of western Canada’s rig activity. [Read more]
U.S. drillers add oil rigs for second consecutive week
(Reuters) - U.S. energy companies added oil rigs for a second week in a row as crude prices hover near three year highs, prompting drillers to boost spending plans for this year. Drillers added four oil rigs in the week to March 23, bringing the total count to 804, the highest level since March 2015, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Friday. The U.S. rig count, an early indicator of future output, is much higher than a year ago when [Read more]
U.S. natural gas Henry Hub premium over Marcellus on track for 5 year low
The premium of U.S. natural gas prices at the Gulf Coast over the Marcellus and Utica shale in Appalachia was on track to fall to its lowest since 2013 as more pipelines enter service, boosting takeaway capacity from the Northeast region. The new pipes have enabled producers to sell more of their low cost fuel from the pipeline-constrained Pennsylvania, West Virginia and Ohio region to other parts of the country where prices are higher. The premium of the Henry Hub benchmark in Louisiana [Read more]
Granite Oil Corp. Reports Fourth Quarter and Year End 2017 Financial Results
CALGARY, Alberta, March 22, 2018 (GLOBE NEWSWIRE) -- GRANITE OIL CORP. (“Granite” or the “Company”) (TSX:GXO) (OTCQX:GXOCF) is pleased to release its financial results for the year ended December 31, 2017. Granite has filed its audited financial statements for the year ended December 31, 2017 and related Management Discussion & Analysis with the applicable Canadian securities regulatory authorities. Granite's annual financial materials may be viewed in their entirety on www.sedar.com and on [Read more]
Groundstar Resources Limited Announces Update to Financing
CALGARY, Alberta, March 22, 2018 (GLOBE NEWSWIRE) -- Groundstar Resources Limited (TSXV:GSA) (the “Company”) is providing an update to its press release dated February 27, 2018 wherein it announced that it was conducting a non-brokered private placement of a maximum of $70,000 aggregate principle amount of convertible debenture units (the “Convertible Debenture Units” or “CDUs”) at a price of CAD$1,000 per Convertible Debenture Unit. The Company is announcing that it has amended the terms of the [Read more]
TransCanada Announces 2018-2019 Revenue Requirement Settlement with NGTL System Shippers
CALGARY, Alberta, March 23, 2018 (GLOBE NEWSWIRE) -- News Release – TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) announced today that its wholly-owned subsidiary, NOVA Gas Transmission Ltd. (NGTL), has filed an application with the National Energy Board for approval of a negotiated settlement with its customers and other interested parties on the annual costs required to operate the NGTL System for 2018 and 2019. "This settlement is the product of a collaborative and open [Read more]
Petronas says involved in TransCanada’s proposal to build gas pipeline extension
Malaysia's Petronas said on Friday it is one of the producers involved in TransCanada's proposal to expand a pipeline system that would open up more markets for the energy company's gas produced in Western Canada. Pipeline operator TransCanada in February said it would go ahead with the C$2.4 billion ($1.9 billion) expansion of its Nova Gas Transmission Line (NGTL), which moves gas from Alberta and British Columbia to markets all over North America. In an emailed statement to Reuters, [Read more]
Bids rise at Calgary Stampede canvas auction, as oilpatch optimism picks up
CALGARY - Proceeds from the Calgary Stampede chuckwagon canvas auction are on the rise, suggesting that economic optimism in the oil and gas sector is also picking up steam as crude prices stabilize above US$60 per barrel. A total of $3.2 million was bid Thursday for the right to advertise on 36 chuckwagons invited to participate in the Stampede's annual GMC Rangeland Derby in July. The event is consider a bellwether for the health of the Canadian oilpatch headquartered in Calgary. A year [Read more]
Altura Energy Inc. Announces Fourth Quarter and Year End 2017 Financial and Operating Results and Provides an Operational Update
CALGARY, Alberta, March 22, 2018 (GLOBE NEWSWIRE) -- Altura Energy Inc. ("Altura", or the "Corporation") (TSXV:ATU) is pleased to announce its financial and operating results for the fourth quarter and year ended December 31, 2017, and an operational update. The audited consolidated financial statements, and related management’s discussion and analysis ("MD&A") will be available at www.sedar.com and www.alturaenergy.ca. OPERATION AND FINANCIAL SUMMARY Three months endedYear [Read more]