It’s no surprise to anyone that the oilfield market is fluid and ever-changing. Last year, Canada went from a high of more than 200 active drilling rigs at the beginning of the year, to a low of 24 in early spring. The next big move for Canada’s oilfield market is a large-scale development of its shale resources to help expand its production efforts. With the seasonal demand for Canada’s oilfield services and growing development of shale resources, it is essential for oilfield service [Read more]
Headlines
Obsidian Energy: FrontFour is Risking the Company’s Progress
CALGARY, March 20, 2018 /CNW/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE.BC) ("Obsidian Energy", the "Company", "we", "us" or "our") comments on FrontFour Capital Group LLC's ("FrontFour") intention to nominate four candidates to stand for election at the Company's 2018 Annual General Meeting. Jay Thornton, Chairman of the Obsidian Energy Board of Directors (the "Board"), commented, "We are disappointed that after several months of attempting to work constructively with FrontFour, [Read more]
Eagle Energy Inc. Announces 2017 Annual Results and Reserves Information
CALGARY, March 20, 2018 /CNW/ - (TSX: EGL): Eagle Energy Inc. ("Eagle") is pleased to report its financial and operating results and its reserves information for the year ended December 31, 2017. Reflecting on Eagle's performance in 2017, Wayne Wisniewski, President and Chief Executive Officer, commented, "Eagle closed out 2017 with strong reserve metrics, production and monthly operating costs within its guidance range and capital expenditures as planned, resulting in an increase to funds [Read more]
Cardinal Energy Ltd. Announces Reserves and Fourth Quarter and 2017 Year-End Results
CALGARY, Alberta, March 20, 2018 (GLOBE NEWSWIRE) -- Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX:CJ) is pleased to announce its operating and financial results for the quarter and year ended December 31, 2017 as well as its 2017 year end reserves. 2017 Financial Highlights Achieved an all in total payout ratio of 98% in Q4 2017 despite accelerating planned Q1 2018 development activity into 2017. Fourth quarter 2017 operating costs per boe decreased 12% to average $20.34 [Read more]
Alberta banks on expanded Trans Mountain pipeline in budget forecasts
EDMONTON - Finance Minister Joe Ceci says Alberta is banking on anticipated revenue from an expansion of the Trans Mountain oil pipeline to balance the budget within five years. Ceci says revenue from the yet-to-be built expansion, along with expected revenue from a replacement Enbridge pipeline to Wisconsin, will be factored into forecasts in the budget he is to table on Thursday. He says it makes financial sense to include the pipelines now —given the expectation they will get [Read more]
Iron Bridge Resources Reports Year-End Reserves and Fourth Quarter 2017 Financial Results and Provides Operations Update
CALGARY, Alberta, March 20, 2018 (GLOBE NEWSWIRE) -- Iron Bridge Resources Inc. (“Iron Bridge”, “IBR” or the “Company”) (TSX:IBR) today is pleased to report its year-end 2017 oil and gas reserves and fourth quarter 2017 financial results and provide an operations update. Year-End Reserves Information The following provides information on IBR’s crude oil, natural gas and NGLs reserves as of December 31, 2017, as evaluated by the Company’s independent qualified reserves evaluators, McDaniel [Read more]
Crude-by-rail price increases expected to put pressure on western producers
CALGARY - Discounts for western Canadian oilsands crude will remain high as railroads crank up their crude-by-rail rates in return for adding locomotives and crews to the transport constrained sector, according to an energy analyst's report published Tuesday. Barclays Capital analyst Paul Cheng said he is increasing by US$4.50 per barrel his forecast for the difference between Western Canadian Select oilsands blend and U.S. benchmark West Texas Intermediate from 2019 to 2022, when new [Read more]
FrontFour Releases Letter to Obsidian Shareholders
GREENWICH, Conn., March 20, 2018 /PRNewswire/ -- FrontFour Capital Group LLC together with its affiliates, a significant shareholder of Obsidian Energy Ltd. ("Obsidian" or the "Company") (TSX/NYSE: OBE), today issued an open letter to the Company's stockholders. The full text of the letter follows: March 20, 2018 Dear Fellow Shareholders, As previously disclosed, FrontFour Capital Group LLC (together with its affiliates, "FrontFour" or "we") and its principals are significant long-term [Read more]
Oilsands technology alliance aims for cuts in industry’s need for steam
CALGARY - An oilsands research alliance says it is entering its sixth year focused on finding new ways to reduce the sector's need for steam, the generation of which leads to almost 80 per cent of its greenhouse gas emissions. Dan Wicklum, CEO of Canada's Oil Sands Innovation Alliance or COSIA, says generating steam to separate heavy sticky bitumen from the northern Alberta sands in which it's trapped is responsible for about 56 million tonnes per year of the total of 71 million tonnes [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 Mar. 20 Operations Center Specialist Roska DBO Whitecourt Mar. 20 Well Reliability and Optimization (WRO) Lead Roska DBO Whitecourt Mar. 19 Snubbing [Read more]