Western Canada’s fleet of drilling rigs went up by 11 to the current count of 203 actively drilling rigs according to data collected by Baker Hughes for the week of November 10th. From one week ago, Alberta rig counts increased from 139 to 148, the Saskatchewan rig count increased 23 to 26. Oil drilling declined by 2 to 108; gas rigs went up 4 to 95. View a full breakdown of western Canada’s rig activity. [Read more]
Headlines
Canadian Natural proposes bitumen-only expansion at its Horizon oilsands mine
CALGARY - Canadian Natural Resources Ltd. (TSX:CNQ) is considering adding a 30,000- to 40,000-barrel-per-day bitumen-only project to its Horizon oilsands mine to take advantage of excess ore production and pipeline capacity. The proposed project could be approved by the company as early as 2019 and would continue a trend in the sector to bolt on brownfield production to avoid the high costs and risks of building new mines from scratch. "Canadian Natural has a near-term [Read more]
Perpetual Energy Inc. Announces Increase to Credit Facility and Provides 2018 Guidance
CALGARY, Nov. 10, 2017 /PRNewswire/ - (TSX:PMT) - Perpetual Energy Inc. ("Perpetual", the "Corporation" or the "Company") is pleased to announce a 62.5% increase to its reserve-based credit facility (the "Credit Facility") and confirm capital spending plans and expected production and adjusted funds flow growth for 2018. Strategic focusing of the Company's asset base, strengthening of the balance sheet, steady execution of the growth-oriented capital program and the Company's market [Read more]
Perpetual Energy Inc. Announces Increase to Credit Facility and Provides 2018 Guidance
CALGARY, Nov. 10, 2017 /CNW/ - (TSX:PMT) - Perpetual Energy Inc. ("Perpetual", the "Corporation" or the "Company") is pleased to announce a 62.5% increase to its reserve-based credit facility (the "Credit Facility") and confirm capital spending plans and expected production and adjusted funds flow growth for 2018. Strategic focusing of the Company's asset base, strengthening of the balance sheet, steady execution of the growth-oriented capital program and the Company's market diversification [Read more]
Obsidian Energy Announces Strong Third Quarter Results and 2018 Budget
CALGARY, Nov. 10, 2017 /PRNewswire/ - OBSIDIAN ENERGY LTD. (TSX/NYSE – OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce its financial and operational results for the third quarter ended September 30, 2017 and 2018 Budget. All figures are in Canadian dollars unless otherwise stated. David French, President & CEO commented, "I am quite proud of the Obsidian Energy team in the third quarter, successfully executing our busiest drilling campaign in years and [Read more]
Orphan Well Association spending tops $2 million on care of Lexin assets
CALGARY - The cost of looking after hundreds of wells, pipelines and other oilfield gear left behind by bankrupt Lexin Resources Ltd. has exceeded $2 million and the bills continue to roll in, says Alberta's Orphan Well Association. The association was handed responsibility for nearly 1,100 wells plus associated equipment after the Alberta Energy Regulator took the unusual step last February of shutting down all Lexin operations. The AER accused the Calgary-based oil and gas [Read more]
Granite Oil Corp. Reports Third Quarter 2017 Results and Provides Corporate Update
CALGARY, Alberta, Nov. 09, 2017 (GLOBE NEWSWIRE) -- GRANITE OIL CORP. (“Granite” or the “Company”) (TSX:GXO) (OTCQX:GXOCF) is pleased to announce its unaudited financial and operating results for the three and nine months ended September 30, 2017. Third Quarter 2017 Financial and Operating Highlights Selected financial and operating information is outlined below and should be read with Granite’s unaudited interim consolidated financial statements and related Management’s Discussion and [Read more]
Third Quarter Results: Freehold Royalties Increases 2017 Production Guidance
CALGARY, Alberta, Nov. 09, 2017 (GLOBE NEWSWIRE) -- Freehold Royalties Ltd. (Freehold) (TSX:FRU) announced third quarter results for the period ended September 30, 2017. Results at a Glance Three Months Ended Nine Months Ended September 30 September 30 FINANCIAL ($000s, except as noted) 2017 2016 Change 2017 2016 Change Royalty and other revenue 33,938 32,923 3 % 113,459 90,075 26 % Net income (loss) 103 [Read more]
Prairie Provident Announces Third Quarter 2017 Financial and Operating Results
CALGARY, Alberta , Nov. 09, 2017 (GLOBE NEWSWIRE) -- Prairie Provident Resources Inc. (TSX:PPR) ("Prairie Provident," "PPR" or the "Company") is pleased to announce its operating and financial results for the three and nine months ended September 30, 2017, and to provide an operational update. PPR’s consolidated financial statements ("Financial Statements") and related Management's Discussion and Analysis ("MD&A") for the three and nine months ended September 30, 2017 are available on its [Read more]
Inter Pipeline Announces Record Third Quarter 2017 Financial Results
CALGARY, Alberta, Nov. 09, 2017 (GLOBE NEWSWIRE) -- Inter Pipeline Ltd. (“Inter Pipeline”) (TSX:IPL) announced today record financial and strong operating results for the three and nine month periods ended September 30, 2017. Third Quarter Highlights Funds from operations (FFO) totalled $269 million, a new quarterly record and a 27 percent increase over third quarter 2016 Generated record net income for the quarter of $143 million, a 17 percent increase over the same period in 2016 [Read more]