CALGARY, ALBERTA--(Marketwired - Sept. 20, 2017) - Chinook Energy Inc. (TSX:CKE) ("Chinook") is pleased to provide the following operational update on its Birley/Umbach property. During the second quarter of 2017, Chinook successfully completed a four well (3.63 net) (the a-81-F, b-90-G, 02/d-5-K, and b-14-K wells) drilling program at Birley/Umbach with average drilling costs of approximately $1.55 million per well ($1.38 million, net). The wells were subsequently completed during the third [Read more]
Headlines
Energy contract lawsuits expected to jump in Harvey’s wake
HOUSTON (Reuters) - Lawyers expect a spate of force majeure contract lawsuits after Hurricane Harvey tore through Southeast Texas and parts of Louisiana last month, paralyzing a fifth of U.S. fuel output and pushing some oil production offline. Hurricanes and other natural disasters can affect the energy industry’s ability to honor contracts related to oil and natural gas production, transport and oilfield services. Force majeure is a legal declaration that means the operator cannot fulfill a [Read more]
Keyera Closes $400 Million Private Placement Debt Financing
CALGARY, Sept. 20, 2017 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced today that it has closed its previously announced CAD$400 million private placement of 10-year senior unsecured notes (the "Notes") with a group of institutional investors in Canada and the United States. The Notes will bear interest at 3.68% and mature on September 20, 2027. Proceeds from the Notes will be used to repay short-term debt incurred to execute Keyera's capital program and for general corporate [Read more]
Quebec Government publishes draft hydrocarbon regulations
CALGARY, ALBERTA--(Marketwired - Sept. 20, 2017) - Questerre Energy Corporation ("Questerre" or the "Company") (TSX:QEC)(OSLO:QEC) reported today that the Ministry of Energy and Natural Resources in Quebec has published the proposed regulations to govern oil and gas activities in the province. A copy of the draft regulations can be found online at: http://www2.publicationsduquebec.gouv.qc.ca/dynamicSearch/telecharge.php?type=13&file=1738-A.PDF. Michael Binnion, President and Chief Executive [Read more]
US shale oil reaching 10 million barrels per day is fiction
Any financial advisor worth their salt will caution you that past performance is not a guarantee of the same in the future. And so it is with US shale oil. Recent EIA estimates claim potential production of up to 10 million barrels per day (BPD). That projection is pure fiction and in this article I will explain why. Right off the bat, assuming annual declines of 2.0 Million BPD, wells having a 365-day average annual rate of 400 BPD requiring 5,000 wells and utilizing 330 rigs (with each well [Read more]
Manitok Energy Inc. Acquires Corinthian Oil Corp.
CALGARY, Sept. 20, 2017 /CNW/ - Manitok Energy Inc. ("Manitok") (TSX-V: MEI) is pleased to announce that it has completed its previously announced three-cornered amalgamation pursuant to an amalgamation agreement (the "Amalgamation Agreement") dated effective September 12, 2017 among the Corporation, Corinthian Oil Corp. ("Corinthian") and 2065718 Alberta Inc. ("Acquireco"), a wholly owned subsidiary of Manitok (the "Transaction"). Pursuant to the Transaction, Manitok has acquired, through [Read more]
Ikkuma Announces Executive Changes
CALGARY, Sept. 19, 2017 /CNW/ - Ikkuma Resources Corp. ("Ikkuma" or the "Corporation") (TSX VENTURE: IKM) announces the following Executive Team changes effective as of today: Dorothy Else retired as Executive Vice President of the Corporation. Ms. Else also joined the Board of Directors of the Corporation (the "Board"). We thank Ms. Else for her contribution to the Corporation as an employee and congratulate her on her new position as a member of our Board. Carrie Yuill has stepped [Read more]
Oilsands miner reports 123 birds killed in tailings pond incident
CALGARY - Oilsands giant Suncor Energy says it is mystified by the discovery Sunday of dead and dying birds at a nearly complete northern Alberta mine that hasn't produced its first official barrel of oil yet. On Tuesday, the Alberta Energy Regulator announced it was dispatching an inspector to the nearly completed Fort Hills oilsands mine north of Fort McMurray after Suncor reported finding 123 waterfowl and songbirds near a tailings pond. "On Sunday ... a group of birds were [Read more]
New Oil and Gas Jobs From BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Sep. 18 Frac Bulk Truck Operator Canyon Technical Services Red Deer Sep. 18 Labourer Strike Group Battleford Sep. 18 Quality Control Coordinator Strike Group Edson Sep. 18 Office Services [Read more]
Torxen Resources Ltd. leads bid to acquire major natural gas property from Cenovus
According to a Globe and Mail article, Torxen Resources Ltd, led by former Cenovus Energy Inc Chief Operating Officer John Brannan, is leading a bid to acquire a major Alberta natural gas property from his former employer. The Globe reported that the deal that could be worth up to C$600 million. Torxen is said to be the front-runner to acquire the Suffield property according to the Globe article. The transaction would be the second for Cenovus as part of a slate of assets sales that could [Read more]