EDMONTON - Alberta's governing NDP says draft policy ideas put forward by the Opposition United Conservatives are risky and would benefit the wealthy — but the new party calls that baseless fearmongering. Finance Minister Joe Ceci says a proposal to return to a flat personal income tax rate would take $700 million out of revenue for the benefit of the highest-income earners. "This is a glimpse of what the future Alberta will look like under (UCP Leader) Jason Kenney, and I can [Read more]
Headlines
Berkshire energy unit names CEO to replace potential Buffett successor
Berkshire Hathaway Inc's energy unit on Thursday named William Fehrman as its new chief executive to replace Gregory Abel, who was promoted a day earlier to oversee more Berkshire units, and potentially succeed Warren Buffett. Fehrman, 57, joined the energy unit, Berkshire Hathaway Energy Co, in 2006. He had been chief executive of its MidAmerican Energy Co subsidiary, which provides electric and natural gas service in four Midwest U.S. states, and BHE Renewables, which builds wind and [Read more]
Nova Scotia fracking ban to remain despite gas potential, premier says
HALIFAX - Despite an analysis that highlights the potential for billions of dollars worth of onshore gas in Nova Scotia, Premier Stephen McNeil says his government has no intention of lifting its ban on hydraulic fracturing. The Nova Scotia Onshore Petroleum Atlas lists the economic potential at between US$20-billion and US$60-billion. The analysis, which began in 2013 and was recently released by the Energy Department, says that based on available geological data, the Windsor [Read more]
Oil prices expected to trade around $60-$70 through 2020: Kemp
LONDON, Jan 11 (Reuters) - Oil prices are expected to remain close to current levels, averaging around $60 to $70 per barrel through the end of the decade, according to the annual survey of energy professionals conducted by Reuters. Forecast prices have changed very little since the last survey a year ago, and are only modestly higher than in the first survey conducted in 2016, when spot prices were much lower than they are today and near the bottom of the cycle. Long-term price [Read more]
Saturn Oil & Gas Inc. Announces Viking IP30 Results Exceeding 115 bbls/day
SASKATOON, Saskatchewan , Jan. 11, 2018 (GLOBE NEWSWIRE) -- Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSX-V:SMI) (FSE:SMK) is pleased to provide initial 30-day production rates (“IP30”) for its two recent Viking horizontal wells (101/9-31 and 102/9-31), as previously disclosed in the December 19, 2017 press release. Over the first 30 days of production, the 101/9-31 well cumulatively produced 3,529 bbls of 36° API light oil or an average of 118 bbls/d. The well continues to flow [Read more]
Spartan Energy Corp. Announces 2018 Corporate Budget and Guidance
CALGARY, ALBERTA--(Marketwired - Jan. 11, 2018) - Spartan Energy Corp. ("Spartan" or the "Company") (TSX:SPE) is pleased to announce that its Board of Directors has approved a development capital budget of $183 million for 2018. This capital budget reflects Spartan's continuing commitment to our business plan of delivering attractive, sustainable per share production growth through our drilling program, while managing our declines and generating excess funds flow to be deployed in projects that [Read more]
Tourmaline Provides Market Update
CALGARY, Jan. 10, 2018 /CNW/ - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is pleased to provide a market update. PRODUCTION UPDATE Tourmaline achieved the 2017 exit target of 270,000-280,000 boepd, averaging approximately 274,000 boepd in December. The Company achieved year-over-year production growth of 30% in 2017, also on target. Q4 2017 average production was approximately 263,000 boepd. Total Q4 2017 liquids production (oil, condensate, NGLs) grew by [Read more]
TransGlobe Energy Corporation Announces 2018 Capital Budget and Management Promotions
CALGARY, Alberta, Jan. 10, 2018 (GLOBE NEWSWIRE) -- TransGlobe Energy Corporation (TSX:TGL) (NASDAQ:TGA) (“TransGlobe” or the “Company”) announces the 2018 capital budget and promotions. All dollar values are expressed in US dollars unless otherwise stated. HIGHLIGHTS 2018 capital budget of $41.3 million (before capitalized G&A) - Egypt $29.1 million - Canada $12.2 million (C$15.3 million) 2018 production of 14.2 to 15.6 MBoepd with a mid-point of 14.9 MBoepd - Egypt 12.0 to [Read more]
Cardinal Energy Ltd. Announces Management Change and Monthly Dividend for January
CALGARY, Alberta, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX:CJ) of Calgary, Alberta announces the retirement of Mr. Doug Smith, Chief Financial Officer. Mr. Smith has been with Cardinal since its inception and the management, staff and directors of Cardinal thank him for his valuable contributions to the Company during this period. Mr. Smith will continue to stay on in an advisory role until January 31, 2018 to ensure a smooth transition. [Read more]
PRD Energy Provides Update on Liquidation & Dissolution Process
CALGARY, Alberta, Jan. 09, 2018 (GLOBE NEWSWIRE) -- PRD Energy Inc. ("PRD" or the "Company") is pleased to provide an update on the status of its liquidation and anticipated dissolution. PRD is currently dissolving its German subsidiaries, disposing of all its other assets that are not to be distributed in kind to the shareholders of PRD, discharging all of its obligations and completing all other acts required to liquidate its business. PRD expects its German subsidiaries to be dissolved [Read more]