CALGARY, Nov. 7, 2017 /CNW/ - Surge Energy Inc. ("Surge" or the "Company") (TSX: SGY) announces its operating and financial results for the quarter ended September 30, 2017. Surge's low risk, development drilling and waterflood results at the Company's Sparky, Shaunavon and Valhalla core areas continue to exceed managements budgeted expectations. Production averaged 15,007 boepd in Q3 2017 - approximately two percent above budget – with only a small contribution from Surge's recently [Read more]
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BlackPearl Announces Third Quarter 2017 Financial and Operating Results
CALGARY, ALBERTA--(Marketwired - Nov. 7, 2017) - BlackPearl Resources Inc. ("BlackPearl" or the "Company") (TSX:PXX)(OMX:PXXS) is pleased to announce its financial and operating results for the three and nine months ended September 30, 2017. Q3 Highlights: At Onion Lake, excellent progress was made during the quarter on the construction of the 6,000 barrel per day (bbl/d) phase 2 thermal expansion. Construction is currently ahead of schedule and costs are in line with our original [Read more]
Whitecap among final-round bidders for Cenovus’ Weyburn asset
Canada's Whitecap Resources Inc and at least three other companies have submitted final-round bids for Cenovus Energy Inc's Weyburn oil facility in a deal that could fetch about C$1 billion ($782 million), people familiar with the situation said on Tuesday. NAL Resources Management Ltd, a unit of insurer Manulife Financial Corp , Cona Resources Ltd and Spartan Energy Corp are among other suitors to place final bids, the people added, declining to be named as the matter is not yet [Read more]
Kinder Morgan Canada denied expedited appeal for oil pipeline
Canada's National Energy Board (NEB) will take until at least Dec. 4 to review Kinder Morgan Canada Ltd's appeal over its Trans Mountain oil pipeline expansion, the regulator said on Tuesday, rejecting the company's proposed "expedited" timeline. The company, a unit of Houston-based Kinder Morgan Inc , last month asked the regulator to intervene after it said it was unable to obtain permits from the city of Burnaby, British Columbia. Burnaby has long opposed the expansion over [Read more]
If government used a commonsense approach to growing GDP, would the oilpatch still be struggling?
The economic data for August 2017 indicates the Canadian economy contracted after several months of positive growth. Economists are quite shocked and baffled by it. However they should not have been because quite frankly, other than the recovery in the oil prices, the fundamentals were not strong enough to warrant a steady positive run. But then that’s a topic of separate discussion. The crux of the matter is the Canadian economy needs a solid and steady supply of ‘oxygen’ to sustain a good [Read more]
Canadian Natural cuts 2018 spending to $4.3 billion but output to rise by 17%
CALGARY - Canadian Natural Resources Ltd. (TSX:CNQ) is throttling back capital spending in 2018, but plans to increase production to more than one million barrels of oil equivalent per day. Western Canada's largest heavy oil and natural gas producer says it is budgeting to spend $4.3 billion, down about $500 million from its estimated capital budget for 2017. Production, however, will rise by 17 per cent to about 1.13 million boe/d from about 970,000 boe/d this year as it ramps [Read more]
Corridor Announces Commencement of Controlled Source Electromagnetic Survey Over the Old Harry Prospect
HALIFAX, NOVA SCOTIA--(Marketwired - Nov. 7, 2017) - Corridor Resources Inc. (TSX:CDH) ("Corridor") is pleased to announce today that the planned controlled source electromagnetic ("CSEM") data program over the Newfoundland and Labrador sector of the Old Harry prospect has been approved by the Canada-Newfoundland Offshore Petroleum Board ("C-NLOPB"). The CSEM program, being undertaken by a third-party service provider, is expected to commence in the coming days and be completed by [Read more]
Perpetual Energy Inc. Releases Positive Third Quarter 2017 Financial and Operating Results
CALGARY, Nov. 7, 2017 /CNW/ - (TSX:PMT) – Perpetual Energy Inc. ("Perpetual", the "Corporation" or the "Company") is pleased to release its third quarter 2017 financial and operating results. A complete copy of Perpetual's unaudited condensed interim consolidated financial statements and related Management Discussion and Analysis ("MD&A") for the three and nine months ended September 30, 2017 can be obtained through the Company's website at www.perpetualenergyinc.com and SEDAR at [Read more]
XI’s Surface Casing & Regulatory Workshop – Thursday, November 23
XI Technologies will present a complimentary workshop Thursday, November 23, on the most efficient and effective workflows to satisfy regulatory obligations under AER Directive 008: Surface Casing Depth Requirements. Nick Chomack of XI Technologies’ Drilling Division will provide an overview of XI’s Surface Casing Report, a web app that draws on a compilation of data sources and allows users to easily search for all pressures/gradients in a particular area. The software then guides users [Read more]
Baker Hughes, a GE Company Announces October 2017 Rig Counts
HOUSTON & LONDON--(BUSINESS WIRE)--Baker Hughes, a GE company (NYSE:BHGE) announced today that the Baker Hughes international rig count for October 2017 was 951, up 20 from the 931 counted in September 2017, and up 31 from the 920 counted in October 2016. The international offshore rig count for October 2017 was 204, up 14 from the 190 counted in September 2017, and up 4 from the 200 counted in October 2016. The average US rig count for October 2017 was 922, down 18 from the 940 counted [Read more]