Sayer Energy Advisors has been engaged to assist Carrick Petroleum Inc. (“Carrick” or the “Company”) with a strategic alternatives process. Potential outcomes include, but are not limited to, a sale of the shares of the Company, a sale of the assets of the Company or a business combination with another entity, preferably public. Carrick is a private, junior exploration and development company which primarily focused on finding and exploiting oil and natural gas opportunities at the leading [Read more]
Headlines
Oil extends gains as Saudi pledges export curbs
Oil prices extended gains on Tuesday after Saudi Arabia pledged to curb exports from next month and OPEC called on several members to boost compliance with output cuts to help rein in oversupply and tackle flagging prices. Brent crude futures were up 68 cents at $49.28 a barrel by 1054 GMT. U.S. West Texas Intermediate futures rose 64 cents to $46.98 a barrel. At a meeting in the Russian city of St. Petersburg on Monday, the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC [Read more]
Canadian Discovery Expands East Shale Basin Coverage in South Duvernay Oil Play Information Package
Does the Duvernay Oil Play have room to expand? Yes! Recent HOT and heavy land sales in the East Shale Basin, with bonuses exceeding $5000/Ha, have been attracting attention lately; however, the play’s overall activity has been and is quietly expanding. Canadian Discovery estimates the existing East Shale Basin oil and condensate play area to exceed 3 million acres. Our most recent analysis suggests an additional 1.2 million-acre play area extending into the West Shale Basin oil window. To [Read more]
Pipeline project, wildfires top agenda for first meeting between Trudeau, Horgan
OTTAWA - Prime Minister Justin Trudeau and brand new B.C. Premier John Horgan bent over backwards to appear congenial after their first meeting Tuesday, avoiding any mention of their differing positions on expanding Kinder Morgan's TransMountain pipeline. The two leaders even showed up to their first face-to-face meeting in nearly identical blue suits, right down to their striped socks and matching shoes, prompting Trudeau to joke about their clear "compatibility." "We're both [Read more]
Blackbird Energy Inc. Provides Drilling, Recompletion and Infrastructure Development Update
CALGARY, ALBERTA--(Marketwired - July 25, 2017) - Blackbird Energy Inc. ("Blackbird" or the "Company") (TSX VENTURE:BBI) is pleased to provide an operational update regarding its 2017 delineation and development program and expansion of the Eastern Pipestone/Elmworth Gathering System ("Eastern Gathering System"). Blackbird is also pleased to announce that it has increased its Montney rights in the Pipestone/Elmworth corridor to 125 gross sections (108.9 net sections). Highlights 2017 [Read more]
New Methane Gas Emission Rules Raise Questions
New regulations to cut methane gas emissions might address some of Ottawa’s concerns about climate change but leave some in the oil and gas industry with questions and concerns about the process. At issue is the analysis in the government’s Regulatory Impact Analysis Statement released on May 25. Questions include the source of the data used by the government to craft the regulations, the depth of the impact on an industry already hit by lower energy prices, and how the federal government [Read more]
Break in rationing on Enbridge Canada pipelines likely short lived
Enbridge Inc's move not to ration space on heavy oil pipelines out of western Canada for the first time in 16 months is likely to give producers only a short respite from difficulties in getting crude to market, industry players said. Market access is a persistent headache for Canadian energy firms, who produce oil from the world's third-largest crude reserves but often struggle to get their barrels to U.S. markets because of limited space in export pipelines. Canada's largest pipeline [Read more]
PrairieSky Announces Second Quarter 2017 Results
CALGARY, ALBERTA--(Marketwired - July 24, 2017) - PrairieSky Royalty Ltd. ("PrairieSky" or the "Company") (TSX:PSK) is pleased to announce its second quarter operating and financial results for the period ended June 30, 2017. 2017 Second Quarter Highlights: • Funds from operations of $75.0 million or $0.32 per share, basic and diluted and net income of $40.5 million or $0.17 per share, basic and diluted • Revenues of $102.2 million including [Read more]
Conservatives to choose interim leader after uniting in Canada’s Alberta
The two right-leaning parties in Canada's oil-rich province of Alberta were due to elect an interim leader on Monday after voting over the weekend to form a new conservative alliance to take on the ruling New Democratic Party (NDP). The new United Conservative Party could present a serious challenge in the 2019 provincial election to the left-leaning NDP, which ended 40 years of Conservative rule in a shock win two years ago. The NDP was partly helped by a divided right at the time. In [Read more]
Loonie rises above 80 cents, highest level in 14 months
TORONTO, July 24 (Reuters) - The Canadian dollar strengthened against its U.S. counterpart on Monday, as domestic wholesale trade data beat expectations, oil prices moved higher and the greenback struggled to shrug off soft data and political uncertainty. The loonie is trading at its strongest in 14 months, helped by a hawkish turn from the Bank of Canada and an interest rate hike earlier this month. At 8:49 a.m. ET (1249 GMT), it was trading at C$1.2512 to the greenback, or 80 U.S. cents, [Read more]