The Mariana Trench – the 6 mile deep canyon in the Pacific Ocean, not the misspelled pop band – is notable for at least two things: First, The Onion, the world's best "alternative" news site, described it as “once again the worst place to raise a child” and secondly, it may be the only place in the world yet to be explored for hydrocarbons. True; there are probably other undrilled places like the top of Mount Everest or under St. Paul’s cathedral. But considering that the largest global [Read more]
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Public trust job one for head of Alberta environmental monitoring program
EDMONTON - Fred Wrona really, really wants you to trust him. "The main piece that I'm working on is rebuilding public trust and confidence," says the man charged with keeping track of Alberta's land, water and sky. As the province's chief scientist, it's his job to oversee the province's much-maligned environmental monitoring program. Since it was formed in 2012, that program has been kicked around like a soccer ball by critics from industry to First Nations. Originally [Read more]
Ikkuma Announces Closing of the Third and Final Tranche of its Non-Brokered Private Placement
CALGARY, Sept. 15, 2017 /CNW/ - Ikkuma Resources Corp. ("Ikkuma" or the "Corporation") (TSX VENTURE: IKM) is pleased to announce that it has closed the third and final tranche of its previously announced non-brokered private placement offering (the "Offering") of common shares issued on a "flow-through" basis in respect of Canadian exploration expenses under the Income Tax Act (Canada) (the "Flow-Through Shares"), pursuant to which the Corporation issued 2,585,400 Flow-Through Shares at a price [Read more]
Hemisphere Energy Announces Strategic Debt Refinancing to Accelerate Growth and Development of its Southern Alberta Oil Assets
VANCOUVER, Sept. 15, 2017 /CNW/ - Hemisphere Energy Corporation (TSX-V: HME) ("Hemisphere" or the "Company") is pleased to announce that it has entered into a new and significantly increased credit facility (the "New Credit Facility") with Cibolo Energy Partners, LP and certain of its affiliates (collectively, "Cibolo"), a Houston-based firm focused on energy investment opportunities. The New Credit Facility is a strategic and transformational transaction for Hemisphere that will allow the [Read more]
U.S. drillers cut most oil rigs since January: Baker Hughes
U.S. energy firms cut the most oil rigs in a week since January as a 14-month drilling recovery stalled due to weak crude prices. Drillers cut seven oil rigs in the week to Sept. 15, bringing the total count down to 749, the least since June, General Electric Co’s Baker Hughes energy services firm said in its closely followed report on Friday. Drillers have not added any rigs since the week of Aug. 11. The rig count, an early indicator of future output, is still higher than the 416 active oil [Read more]
Canada Weekly Rig Count Increases by 10 to 212
Western Canada’s fleet of drilling rigs decreased to 201 actively drilling rigs according to data collected by Baker Hughes for the week of September 15. From one week ago, Alberta rig counts increased to 141 rigs from 134, the Saskatchewan rig count increased to 43 from 36. Oil drilling increased to 112 from 102 rigs; gas rigs remained at 100. View a full breakdown of western Canada’s rig activity. [Read more]
Alberta and North Dakota light, sweet crude surge on Harvey after-effects
Light, sweet crude out of Canada and North Dakota surged to their highest levels in over four years on Thursday, as Midwest and East Coast refiners bid heavily for those grades after Hurricane Harvey upended energy markets in the U.S. Gulf. Widespread flooding following the giant storm forced several U.S. Gulf Coast refiners to shut, idling a quarter of nationwide refining capacity. Many of those refiners are only now rumbling back into operation. The shutdowns had a twofold effect for [Read more]
Connacher Announces Appointment of CFO
CALGARY, Sept. 14, 2017 /CNW/ - Connacher Oil and Gas Limited ("Connacher" or the "Company") today announced that Jeff Beeston has been appointed Chief Financial Officer of Connacher. Mr. Beeston is a Chartered Accountant with over 16 years of experience. Mr. Beeston has been Vice President of Finance and Interim Chief Financial Officer at Connacher since November 2015 and prior to that was Manager, Finance at Connacher since November 2010. Prior to joining Connacher, Mr. Beeston was Manager, [Read more]
Harvest Operations Corp. Announces U.S. $285 Million 3% Senior Note Offering and Pricing
CALGARY, ALBERTA--(Marketwired - Sept. 14, 2017) - Harvest Operations Corp. ("Harvest" or the "Company") is pleased to announce that it has agreed to issue and sell U.S.$ 285 million senior unsecured notes due 2022 with a coupon rate of 3% (the "Notes"). The Notes have been rated Aa2 and AA by Moody's Investors Service and S&P Global Ratings, respectively. The Notes will be unconditionally and irrevocably guaranteed by Harvest's parent company Korea National Oil Corporation ("KNOC"). [Read more]
Police report repeated mischief to Enbridge pipeline in Hamilton
Hamilton police are investigating multiple instances of tampering at an oil pipeline project in the city. Investigators provided few details about the incidents involving the Line 10 pipeline, which runs through Hamilton and is owned by Enbridge Inc. (TSX:ENB). The damage consisted of holes drilled into the pipeline, adding there have been multiple instances of trespassing in the past week, police said Thursday in a release. No other information was available. A [Read more]