CALGARY, Sept. 13, 2017 /CNW/ - Manitok Energy Inc. ("Manitok") (TSX-V: MEI) is pleased to announce that it has entered into a definitive amalgamation agreement with Corinthian Oil Corp. ("Corinthian") and 2065718 Alberta Inc., a wholly owned subsidiary of Manitok ("Acquireco"), dated effective September 12, 2017 (the "Amalgamation Agreement") to acquire all of the issued and outstanding shares of Corinthian (the "Transaction"). Manitok will acquire approximately 180 boe/d of production (25% [Read more]
Headlines
Canada’s Desjardins mulls withdrawal from Kinder pipeline expansion
Canadian lender Desjardins is considering backing out of its C$145 million ($113 million) commitment to Kinder Morgan Inc's Trans Mountain pipeline expansion, two people present at a meeting with the financial institution told Reuters. At the meeting last Thursday, Desjardins senior executives told aboriginal leaders the lender will consider their request to pull its financing for the C$7.4 billion ($6.1 billion) project, said Eugene Kung, a lawyer for the west coast Tsleil-Waututh [Read more]
Shell Canada shuts some gas operations due to southern Alberta wildfire
Shell Canada, a subsidiary of Royal Dutch Shell Plc , is shutting some gas operations in its Waterton complex in southern Alberta as a precaution against an uncontrolled wildfire raging nearby, the company said on Tuesday. The Waterton complex includes natural gas wells and a processing plant and has production capacity of nearly 179 million cubic feet per day. So far the company has not shut its Waterton gas plant but is closely monitoring the situation, spokesman Cameron Yost said in a [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. 12 Frac Operators STEP Energy Services Medicine Hat Sep. 12 Frac Operators STEP Energy Services Red Deer Sep. 12 Maintenance Technicia STEP Energy Services Arcadia Sep. 12 Shop Professional STEP [Read more]
Oil will keep flowing, but UN sanctions hit North Korea hard
TOKYO - North Korea will be feeling the pain of new United Nations sanctions targeting some of its biggest remaining foreign revenue streams. But the Security Council eased off the biggest target of all: the oil the North needs to stay alive, and to fuel its million-man military. Though the United States had proposed a complete ban, the sanctions by the U.N. Security Council to punish North Korea for its sixth nuclear test cap Pyongyang's annual imports of crude oil at the same level [Read more]
Oil edges up as OPEC output falls, offsets hurricane concerns
Oil prices recouped some losses on Tuesday, helped by OPEC saying its output fell in August, indicating a production-cutting deal with non-member countries is helping to tackle a supply gut. In its monthly report, the Organization of the Petroleum Exporting Countries also raised its demand forecast for 2018, and said two hurricanes that hit the United States in recent weeks would have “negligible” impacts on demand. The market is grappling with Hurricane Irma’s effect on demand, even as [Read more]
Enbridge’s Line 3 oil pipeline upgrade challenged by Minnesota government
CALGARY, Alberta (Reuters) - Enbridge Inc’s upgrade of its Line 3 crude oil pipeline hit an obstacle on Monday after the U.S. state of Minnesota told a regulatory committee that it has no need for the project, and that the existing pipe should be shut. The testimony by Minnesota’s Department of Commerce is the latest challenge against the C$8.2 billion ($6.52 billion) project through the state, which faces fierce opposition from environmentalists and aboriginal groups. The Minnesota Public [Read more]
Paramount and Trilogy Complete Merger
CALGARY, Sept. 12, 2017 /CNW/ - Paramount Resources Ltd. (TSX: POU) ("Paramount") and Trilogy Energy Corp. (TSX: TET) ("Trilogy") are pleased to announce that the previously announced merger of Paramount and Trilogy has been completed. Under the merger, Paramount has acquired all of the outstanding Trilogy shares not already owned by it in exchange for Paramount shares, on the basis of one Paramount share for every 3.75 Trilogy shares. As a result, Trilogy expects that its shares will be [Read more]
Introducing Resource Royalty Ltd. – Purchaser of Mineral rights and royalties; royalty financing available
Resource Royalty Ltd. (“RRL”) is a new oil and gas royalty Company based in Calgary, Alberta. RRL acquires producing and non-producing mineral titles, royalties and gross royalty trust interests in geologically prospective areas, with a focus on assets in Western Canada. We are an energy Company that receives royalty revenues from our growing asset base without exposure to the capital commitments or environmental liabilities associated with working interests. RRL will fund qualified operators [Read more]
Conventional Beaverhill Lake oil prospect covering approximately 14 square miles
A private oil and gas company is exploring strategic alternatives for its significant oil prospect, a conventional Beaverhill Lake light oil play covering approximately 14 square miles. 400 MMbbls of OOIP Can be evaluated with one vertical well (~$2.2MM) that will validate the seismic model. Historical recovery factors ranging from 20% to 35%. An additional 50 plus locations in order to fully exploit the prospect. Prime leases have been secured. CEE eligible. Full [Read more]