CALGARY, ALBERTA--(Marketwired - Sept. 5, 2017) - Strategic Oil & Gas Ltd. (TSX VENTURE:SOG) ("Strategic" or the "Company") announces that President and CEO Gurpreet Sawhney has resigned to pursue other opportunities. Current COO Cody Smith has been appointed as interim CEO. Tom Claugus, Chairman of the Board, said, "The board wishes to thank Gurpreet for his efforts over his tenure with the Company and wishes him well in his future endeavors. Under his watch the Company has made [Read more]
Headlines
Cenovus reaches agreement to sell Pelican Lake assets for approximately $1 billion
CALGARY, Alberta, Sept. 05, 2017 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) has entered into a definitive agreement to sell its Pelican Lake heavy oil operations, as well as other miscellaneous assets in northern Alberta for gross cash proceeds of $975 million. The sale is expected to close on or before September 30, 2017, subject to normal closing conditions. Proceeds from the sale will be applied against the $3.6 billion asset-sale bridge facility put in place to help fund [Read more]
U.S. gasoline in first slide since Harvey, oil under pressure
NEW YORK (Reuters) - Benchmark U.S. gasoline prices slid for the first day since Hurricane Harvey struck the U.S. oil industry heartland, as some refineries restarted operations, while oil prices remained under pressure and settled about flat. Harvey, downgraded to a tropical storm and losing steam as it moved inland, killed more than 40 people and brought record flooding that shut at least 4.4 million barrels per day (bpd) of refining capacity. Closure of roughly a quarter of the U.S. [Read more]
Harvey’s wake tempers bullish outlook for U.S. oil output growth
HOUSTON, Sept 1 (Reuters) - Damage and delays from Tropical Storm Harvey will hold the U.S. oil industry back from achieving a targeted 10 million barrels per day of production anytime soon, according to analysts, a setback in America’s fight for global market share with OPEC. The storm, which flooded refineries, wells and pipelines across Texas, added to a string of problems oil companies already faced, like low crude prices and expensive engineering challenges at new shale wells. Earlier [Read more]
Ikkuma announces closing of the first tranche of its non-brokered private placement
CALGARY, Sept. 1, 2017 /CNW/ - Ikkuma Resources Corp. ("Ikkuma" or the "Corporation") (TSX VENTURE: IKM) is pleased to announce that it has closed the first 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 3,489,200 Flow-Through Shares at a price of $0.82 [Read more]
RMP Energy Announces $80 Million Disposition of Assets and Name Change
CALGARY, Alberta, Sept. 01, 2017 (GLOBE NEWSWIRE) -- RMP Energy Inc. (“RMP” or the “Company”) (TSX:RMP) is pleased to announce that it has entered into a definitive purchase and sale agreement (the "Agreement") with Tangle Creek Energy Ltd. ("Tangle Creek") pursuant to which Tangle Creek will acquire all of RMP’s crude oil and natural gas interests in the Waskahigan/Grizzly, Kaybob, Gilby, Pine Creek areas of West Central Alberta in addition to other minor Alberta properties (collectively the [Read more]
U.S. drillers add no oil rigs as Hurricane Harvey slows production – Baker Hughes
NEW YORK, Sept 1 (Reuters) - U.S. energy firms did not add any oil rigs this week as Hurricane Harvey barrelled into the nation’s energy heartland, forcing drillers to halt production and refiners to shut plants. The total oil rig count for the week ended Friday stayed at 759, General Electric Co’s Baker Hughes energy services firm said in its report on Friday. That compares with 407 active oil rigs during the same week a year ago. Drillers have added rigs in 56 of the past 67 weeks since the [Read more]
Canada Weekly Rig Count Down 16 to 201
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 1. From one week ago, Alberta rig counts decreased to 130 rigs from 144, the Saskatchewan rig count increased to 39 from 38. Oil drilling decreased to 102 rigs from 115; gas rigs decreased from 102 to 99. View a full breakdown of western Canada’s rig activity. [Read more]
Tanager Energy Announces Operational Update on the Sidekick A #1 Well Located in Polk County, Texas
CALGARY, Alberta, Sept. 01, 2017 (GLOBE NEWSWIRE) -- Tanager Energy Inc. (“Tanager” or the “Corporation”) (TSX-V:TAN) (OTCQB:MNIRF) is pleased to announce the completion of drilling activities and logging of its Sidekick A #1 well. The Sidekick A #1 encountered two potentially productive zones by log analysis. Further testing, such as sidewall coring and formation tests, could not be performed on the well due the approach of tropical storm Harvey. The Sidekick A #1 well was drilled to a total [Read more]
Sunshine Oilsands Ltd.: Executive Management Changes
HONG KONG, CHINA and CALGARY, ALBERTA--(Marketwired - Sept. 1, 2017) - The Board of Directors (the "Board") of Sunshine Oilsands Ltd. (the "Corporation" or "Sunshine") (HKEX:2012) wishes to announce the following executive management changes due to job reallocation and to better align its management organization with the Corporation's future growth and development objectives. Change of Chief Executive Officer The Board is pleased to announce that with effect from September 1, 2017, Mr. [Read more]