CALGARY, July 18, 2017 /CNW/ - Canada is a late entrant to the global liquefied natural gas (LNG) market and the next several years will be critical to the development of the Canadian LNG industry, according to a new report released by the energy information and analysis unit of the National Energy Board (NEB). The report, titled Canada's Role in the Global LNG Market, looks at changing LNG market dynamics, including lower prices and fierce competition. This has created uncertainty among all [Read more]
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Property Offering: Glencoe Resources Ltd., in Receivership
Hardie & Kelly Inc., in its capacity as Court appointed Receiver of Glencoe Resources Ltd., has retained CB Securities Inc. as its advisor for the sale of Glencoe’s oil and gas properties. All of Glencoe’s properties were evaluated by Sproule Associates Limited effective April 30, 2017. Chigwell Viking Units 230 Bbls/day of currently curtailed light oil production Significant identified phased Viking development projects 3 separate medium scale sized projects at $7.3, [Read more]
The Oil Sands Trade Show and Conference is Coming Back This Year to Fort McMurray Stronger Than Ever
The Oil Sands Trade Show and Conference is coming back this year to Fort McMurray stronger than ever after the event was postponed a year ago. The aim of the show is to support the industry that supports Alberta’s economy and it’s an opportunity for businesses to connect to the community where the Alberta oil sands work gets done. “That’s where a big part of our business comes from. We’re big supporters of the industry up there,” says Jim Brasset, operations manager of Surrey, B.C.-based [Read more]
Saturn Oil + Gas Inc. Announces Plans to Drill First Viking Horizontal Wells at Its Lucky Hills Property
SASKATOON, SASKATCHEWAN--(Marketwired - July 17, 2017) - Saturn Oil + Gas Inc. ("Saturn" or the "Company") (TSX VENTURE:SMI)(FRANKFURT:SMK) is pleased to announce that it plans to spud their first Viking Formation horizontal wells at their Lucky Hills property located in the Kindersley area of West Central Saskatchewan. The Company has received their first two well license approvals from the Crown. Saturn's two initial horizontal wells at Lucky Hills will be a 100% working interest wells with [Read more]
XI Technologies – AssetBook: ARO Cost Model Demo
ARO is a key aspect of risk management and a disciplined retirement strategy is essential for corporate financial planning. While important, LLR ratios and government calculated liabilities only tell half the story when addressing Abandonment and Reclamation costs. Estimating the retirement obligation liability for an asset package or an entire company is a crucial requirement for A&D deals, but has traditionally been tackled late in the process. XI’s ARO Cost Model makes this an easy [Read more]
Canada Weekly Rig Count Up 16 to 191
Western Canada’s fleet of drilling rigs increased this week to 191 actively drilling rigs according to data collected by Baker Hughes for the week of July 14. Drilling activity is still active in comparison to last year’s count. From one week ago, Alberta rig counts increased to 121 rigs from 105, the Saskatchewan rig count went down – current count at 39 from 43. Oil drilling increased to 106 rigs from 105; gas rigs increased to 85 from 70. View a full breakdown of western Canada’s [Read more]
In search for new CEO, Cenovus seeks fresh blood for old path
Cenovus Energy Inc's search for a new chief is focusing on external candidates with strong technical skills to help stabilize a company whose shares have nearly halved after an unpopular acquisition. The Canadian crude producer is working with executive recruitment firm Korn/Ferry International to find a replacement for outgoing Chief Executive Brian Ferguson, who was an accountant by profession, sources familiar with the matter told Reuters. Cenovus made a transformational [Read more]
U.S. drillers add oil rigs for 2nd week in a row -Baker Hughes
U.S. energy firms added oil rigs for a second week in a row as the drilling recovery continues into a 14th month, but the pace of additions has slowed to its lowest this year amid weak crude prices despite OPEC-led efforts to end a global supply glut. Drillers added two oil rigs in the week to July 14, bringing the total count up to 765, the most since April 2015, Baker Hughes energy services firm said in its closely followed report on Friday. That compares with 357 active oil rigs during [Read more]
Study: US Will Be ‘Global Leader In Energy Exports’ By 2022
The U.S. is expected to be major natural gas exporter by 2022, according to a new projection by the International Energy Agency (IEA). The U.S. could account for roughly 40 percent of the world’s extra gas production by 2022, largely due to hydraulic fracturing, or fracking, according to the report. Production is growing faster than than domestic demand, so excess U.S. gas will likely be liquefied and exported abroad. “The US shale revolution shows no sign of running out of steam and its effects [Read more]
Cenovus releases 2016 corporate responsibility report
CALGARY, Alberta, July 13, 2017 (GLOBE NEWSWIRE) -- Cenovus Energy Inc. (TSX:CVE) (NYSE:CVE) has published its 2016 corporate responsibility report detailing the company's efforts to accelerate its environmental performance, protect the health and safety of its staff, invest in and engage with the communities where it operates and maintain the highest standards of corporate governance. In 2016, Cenovus: Set a target to achieve a 33 percent reduction in upstream greenhouse gas (GHG) emissions [Read more]