CALGARY, March 22, 2018 /CNW/ - MEG Energy Corp. (TSX:MEG) ("MEG" or the "Company") is pleased to announce that it has successfully closed its previously announced sale of the Company's 50% interest in Access Pipeline and 100% interest in Stonefell Terminal for cash and other consideration of $1.61 billion. MEG Energy Corp. is focused on sustainable in situ oil sands development and production in the southern Athabasca oil sands region of Alberta, Canada. MEG is actively developing enhanced [Read more]
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Relentless Resources Announces Closing of Private Placement and Addition of a New Board Member
TSX-Venture Exchange: RRL - CALGARY, March 22, 2018 /CNW/ - Relentless Resources Ltd. ("Relentless" or the "Company") is pleased to announce: (i) that it has closed the previously announced non-brokered private placement of 122,222,222 units of the Company ("Units"), for aggregate gross proceeds of $8,250,000 (the "Private Placement"); and (ii) the appointment of Mr. Stanley J. Swiatek to the board of directors in connection with the completion of the Private Placement. Private Placement [Read more]
Alberta set to unveil 2018 budget, including five-year deficit reduction plan
EDMONTON - Alberta is to table its 2018 budget today, and Premier Rachel Notley's government says it will reflect a commitment to continued spending and getting the books balanced. The province has been running multibillion-dollar budget shortfalls in recent years as it grapples with reduced oil prices. Finance Minister Joe Ceci says his budget will include a step-by-step plan to get back to balance by 2023. Opposition leaders say they are skeptical. They say the province needs to [Read more]
Tidewater Announces Definitive Agreement with TransAlta, Quarterly Dividend, Provides Operations Update
Additional Processing Fee Agreements at Pipestone Montney Sour Deep-Cut Processing Facility and Five Year 17 Bcf Commitment at Ram River Gas Plant CALGARY, March 22, 2018 /CNW/ - Definitive Agreement with TransAlta Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Corporation") (TSX:TWM) is pleased to announce that it has entered into a definitive agreement with TransAlta Corporation ("TransAlta") for the procurement of long lead items such as the steel and associated [Read more]
LNG Canada on track for final approval this year
The LNG Canada liquefied natural gas project is on track for a final investment decision (FID) later this year, an official for the province of British Columbia said on Thursday. The British Columbia-based project led by Anglo-Dutch Royal Dutch Shell in partnership with PetroChina ,South Korea's KOGAS and Japan's Mitsubishi Corp has an estimated development cost of C$40 billion. A FID was expected in late 2016, but was delayed due to falling oil and gas prices between 2014 and 2016, which [Read more]
Private oil and gas company looking for seeking prospects for 2018 drilling program
A private company with existing operation in Alberta is seeking for drilling-ready prospects for its 2018 drilling program. Medium-light oil, relatively shallow, high working interest and large inventory of locations are preferred. Transaction could be done in cash or GOR. Interested party please send email to 2018drilling@gmail.com and the company information will be provided in person. [Read more]
Cenovus provides first-quarter operational update
CALGARY, Alberta, March 22, 2018 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) has been operating its oil sands facilities at reduced production rates and is storing excess barrels in its reservoirs in response to wider than normal light-heavy price differentials and recent pipeline capacity constraints as well as the slow pace of the ramp-up in crude-by-rail export capacity in Alberta. “When Canadian heavy oil is selling at a wide discount to West Texas Intermediate due to [Read more]
PJVA Joint Venture Administration Certificate Drawing To A Close
The PJVA would like to acknowledge the efforts of the students currently wrapping up the first in-house offering of the Joint Venture Administration certificate! We look forwards to seeing many of you in our upcoming offering of Introduction to Facilities taking place on April 5th & 6th. Introduction to Facilities can be taken as either a stand-alone offering for anyone looking to develop a better understanding of oil and gas processing infrastructure or as the next step towards the [Read more]
Gear Energy Ltd. Announces Operational Update and 2018 Revised Outlook
CALGARY, March 21, 2018 /CNW/ - Gear Energy Ltd. ("Gear" or the "Company") (TSX:GXE) is pleased to present the following operational update and revised outlook for 2018. The first quarter of 2018 has been quite dynamic to date. The Company would like to update investors on the following key accomplishments and revised outlook: 2018 Capital Activity To Date Wilson Creek Gear successfully drilled and frac'd a new extended reach Basal Belly River light oil well at 11-34-42-4W5. The well was [Read more]
Setback for Trump administration after tepid offshore oil lease sale
(Reuters) - Oil and gas drillers bid modestly on Gulf of Mexico acreage in the largest lease sale in American history on Wednesday, dealing a setback to the Trump administration’s efforts to rapidly pump up investment in the region. The Interior Department had offered up a record 77 million acres (31.2 million hectares) for development in the Gulf with discounted royalty rates on the shallower tracts as part of a broader effort by President Donald Trump’s administration to ramp up U.S. fossil [Read more]