A little-known shale oil play in Oklahoma is attracting more drilling and investment as risingout put from newer wells is enticing companies to boost production beyond the giant Permian basin in Texas. The Meramec formation is a part of what is called the STACK region - Sooner Trend Anadarko basin Canadian and Kingfisher counties - where companies such as Marathon Oil and Devon Energy bought up acreage following the oil slump in 2014. Those investments are now paying off as production [Read more]
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Insignia Energy Ltd.: Non-Core Property Divestiture
Sayer Energy Advisors has been engaged to assist Insignia Energy Ltd. (“Insignia” or the “Company”) with the sale of its non-core oil and natural gas properties located in the Caroline, Birch-Mannville-Wildmere, Honeysuckle, Beaverhill Lake, Ferrier, Crystal, Thorsby, Crossfire, Doris-Corbett, and Widewater areas of Alberta, and the Ladyfern and Nig areas of British Columbia (the “Properties”). Total production net to Insignia from the Properties has averaged approximately 445 boe/d, consisting [Read more]
Point Loma Resources Announces 2017 Year-End Reserves and Year-End Reserve Evaluation of Recent Transaction
CALGARY, Alberta, March 19, 2018 (GLOBE NEWSWIRE) -- Point Loma Resources Ltd. (TSX VENTURE:PLX) (the "Corporation" or “Point Loma”) is pleased to report the results of its 2017 year-end reserves as evaluated by McDaniel and Associates Ltd. (“McDaniel”) and provide an update regarding its recently announced acquisition. Highlights: Total proved plus probable (“2P”) reserves of 4,452 mboe and proved (“1P”) reserves of 3,500 mboe for the Corporation, an increase of 119 percent and 128 [Read more]
TransCanada Expects No Material Financial Impact From Proposed Tax Actions by the Federal Energy Regulatory Commission
HOUSTON, March 19, 2018 (GLOBE NEWSWIRE) -- News Release – TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada) released the following statement regarding the Federal Energy Regulatory Commission’s (FERC) recent pronouncements on income tax matters with respect to pipeline ratemaking: On March 15, 2018, FERC issued a Notice of Proposed Rulemaking (NOPR) and revised policy statement to address the treatment of income taxes for ratemaking purposes. There are two separate avenues for these [Read more]
Avoiding the crazy uncle syndrome – intractability is malignant for both proponents and opponents of fossil fuels
A thoughtful reader recently compared me to a crazy uncle; someone worth poking at the dinner table because a deranged and/or laughable opinion is sure to burst forth. Since I uncompromisingly strive for accurate self-knowledge, a quick review of recent output indicated that he was not off the mark. On the other hand, beyond the sheer entertainment value of provoking curmudgeons, analyzing bombastic examples of these singular opinions can be valuable in pointing out the dangers of becoming too [Read more]
Gibson Energy Announces Sale of U.S. Energy Services Businesses for $125 Million
CALGARY, Alberta, March 19, 2018 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (“Gibson” or the “Company”), (TSX:GEI), announced today it has entered into two separate definitive agreements for the divestiture of its U.S. energy services businesses, including U.S. Environmental Services and its U.S. seismic assets, for approximately US$96 million prior to closing adjustments or approximately $125 million at current exchange rates. “We are very pleased to announce the sales of our U.S. Environmental [Read more]
Funds trim bullish oil positions, but no rush for exit: Kemp
LONDON (Reuters) - Hedge funds continue to turn more cautious on the outlook for oil prices, but the liquidation of former bullish positions is very gradual, suggesting most see price risks close to balance. Hedge funds and other money managers cut their net long position in the six most important futures and options contracts linked to petroleum prices by 23 million barrels in the week to March 13. Funds have trimmed their net long position in six of the last seven weeks by a total of 268 [Read more]
India shows crude battle is much more than OPEC vs U.S. shale: Russell
LAUNCESTON, Australia, March 19 (Reuters) - The market narrative consuming crude oil markets currently is the interplay between supply cuts by OPEC and its allies and rising U.S. shale output, with a side helping of Chinese imports driving demand. While there are solid reasons for industry participants to focus on these dynamics, there is also the risk of missing out on other factors that help shape the market. Such a factor is India, which has long flown below the radar of the crude oil [Read more]
Notorious Russian troll farm also took swipes at Canadian targets: oil, PM
WASHINGTON - The same Russian online troll farm that meddled in the American presidential election has also taken swipes at Canadian targets, including oil infrastructure and Prime Minister Justin Trudeau. Evidence is embedded in data made publicly available through investigations in the United States, where congressional probes have been examining Russian information campaigns following the 2016 presidential election. One report from a Republican-led committee in the House of [Read more]
RCMP move to arrest pipeline protesters at entrance to Trans Mountain work site
Authorities in British Columbia arrested anti-pipeline protesters Saturday on Burnaby Mountain, a first in a string of actions demonstrators said they have planned for the coming week. Amina Moustaqim-Barrette, who spoke on behalf of a coalition of demonstrators under the banner Protect the Inlet, said each protester was ready to be arrested to send a clear message against Kinder Morgan's Trans Mountain pipeline expansion project. "The community isn't going to lay down and just [Read more]