SASKATOON, SASKATCHEWAN--(Marketwired - Dec. 19, 2017) - Saturn Oil & Gas Inc. ("Saturn" or the "Company") (TSX VENTURE:SMI) (FRANKFURT:SMK) is pleased to announce that it has successfully drilled, completed and brought on-line its first two Viking horizontal wells (101/9-31 and 102/9-31) in the Flaxcombe area. The 101/9-31 well was drilled to a measured depth of 1,497 meters and completed with 24 stage closable sleeves. All 24 stages were successfully completed and the well was brought [Read more]
Headlines
Luxury still sells as vacancy rates rise in Alberta’s oilsands workcamp sector
CALGARY - Driving by empty workforce accommodation camps along northern Alberta highways near Fort McMurray, the oilsands boom that became a bust still hits home three years after the slide began. The empty parking lots surround plain, functional-looking buildings made up of modular units stacked, stretched end-to-end or lined up like dominos, some complexes containing thousands of deserted rooms. Many oilsands lodges have been "temporarily" closed because they don't have enough [Read more]
CSV Midstream Solutions Announces Appointment of EVP Business Development and Commercial
CALGARY, Alberta, Dec. 19, 2017 (GLOBE NEWSWIRE) -- CSV Midstream Solutions (“CSV Midstream”) is pleased to announce today that Rick Staples has been appointed Executive Vice President of Business Development and Commercial, effective immediately. Rick brings over 30 years’ experience in the oil and gas industry to CSV Midstream. “I am thrilled that Rick will be joining our team,” said Daniel Clarke, President and CEO. “He shares our values and our focus on midstream project efficiency, and he [Read more]
Point Loma Announces Closing of its Short-Form Prospectus Offering of CEE Flow-Through Shares Including Full Exercise of Over-Allotment Option
CALGARY, ALBERTA--(Marketwired - Dec. 19, 2017) - Point Loma Resources Ltd. (TSX VENTURE:PLX) ("Point Loma" or the "Company") is pleased to announce that it has closed the short form prospectus marketed financing of 10,454,545 common shares of the Company issued as "flow-through shares" within the meaning of the Income Tax Act (Canada) (the "Flow-Through Shares") previously announced on November 28, 2017 (the "Offering") with Mackie Research Capital Corporation (the "Agent") for aggregate gross [Read more]
Strategic Oil & Gas Ltd. Announces Winter Drilling Program
CALGARY, Alberta, Dec. 18, 2017 (GLOBE NEWSWIRE) -- Strategic Oil & Gas Ltd. (“Strategic”, or the “Company”) (TSXV:SOG) announces its Board of Directors has approved a $9 million capital program for the first half of 2018. The Company is eager to commence its 2018 winter drilling program focused on Muskeg wells at West Marlowe. Capital spending will be directed primarily to drill, complete and tie-in two Muskeg horizontal wells to continue developing Strategic’s high potential light oil [Read more]
Why the IEA and EIA have their supply/demand forecast for 2018 wrong
The market has become decidedly bearish towards oil prices in the past six weeks as the US EIA has released several consecutive weekly production increases. In case you don’t know the EIA publishes weekly estimates of US oil production in its petroleum inventory report and forward month estimates in its monthly drilling productivity report. For example, the December drilling productivity report will estimate January 2018 production. Based on recent bullish US production growth estimates, the [Read more]
Inter Pipeline green-lights $3.5B petrochemical project to produce plastic
CALGARY - Inter Pipeline Ltd. (TSX:IPL) says it has decided to go ahead with a $3.5-billion petrochemical project in an industrial area north of Edmonton. The complex will convert propane into polypropylene, a plastic used in the manufacturing of products such as automobile parts, containers and Canadian bank notes. The province picked Inter Pipeline's project a year ago to receive up to $200 million in royalty credits. Pembina Pipeline (TSX:PPL), also headquartered in Calgary, [Read more]
Razor Energy Corp. Announces Non-Operated Consolidation Acquisition in the Kaybob Area of West Central Alberta and Management Promotion
CALGARY, Alberta, Dec. 18, 2017 (GLOBE NEWSWIRE) -- Razor Energy Corp. (“Razor” or the “Company”) (TSXV:RZE) (www.razor-energy.com) is pleased to announce that it has completed the acquisition of certain non-operated working interest positions to consolidate its existing Kaybob Triassic Units 1 and 2 from an arm’s length private company (the “Kaybob Assets”) for cash consideration of $4.6 million, subject to customary adjustments (the “Acquisition”). The Assets are characterized by low decline, [Read more]
Saturn Oil & Gas Inc. Increases Land Holdings in Flaxcombe Area
SASKATOON, SASKATCHEWAN--(Marketwired - Dec. 18, 2017) - Saturn Oil & Gas Inc. ("Saturn" or the "Company") (TSX VENTURE:SMI)(FRANKFURT:SMK) is pleased to announce that the Company has acquired 2.25 sections of land in the recent Saskatchewan Crown land sale. This brings the Companies total land holding to 12.25 gross sections (8.75 net). The 2.25 sections acquired in the land sale were divided into three separate non-contiguous parcels. The first parcel is one quarter section with rights [Read more]
Granite Oil Corp. Provides Drilling Update and Announces Revised Monthly Dividend
CALGARY, Alberta, Dec. 18, 2017 (GLOBE NEWSWIRE) -- GRANITE OIL CORP. (“Granite” or the “Company”) (TSX:GXO)(OTCQX:GXOCF) is pleased to announce its recent successful drilling results and kick off of the next phase of its drilling program in Pod 2. Operations and Corporate Update Granite has recently drilled and completed its ninth and final horizontal development well of 2017. The Company had not drilled a development well since July, 2017, reflecting the Company’s decision to slow [Read more]