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]
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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]
Blackbird Denies Unauthorized Payment to Investment Advisor
CALGARY, ALBERTA--(Marketwired - July 13, 2017) - Blackbird Energy Inc. (TSX VENTURE:BBI)("Blackbird" or the "Company") would like to clarify certain statements that appear in an article that was published on July 13, 2017, that alleged, among other things, that in connection with the public offering of common shares by the Company that closed on March 14, 2017 (the "Offering"), an unauthorized payment was made by the Company to an investment advisor. Blackbird denies any improper payment being [Read more]
Veresen Announces Resignation of Director and Common Share Dividend for July 2017
CALGARY, ALBERTA--(Marketwired - July 13, 2017) - Veresen Inc. ("Veresen" or the "Company") (TSX:VSN) announced today that Thierry Vandal has resigned as a director of the Company effective July 12, 2017. The Company would like to thank Mr. Vandal for his significant contributions to Veresen and wish him every success in the future. Common Share Dividend for July 2017 The Board of Directors has declared a cash dividend for July 2017 of $0.0833 per common share. The dividend will be paid on [Read more]
Saturn Oil + Gas Inc. Acquires Additional Land at Flaxcombe and Receives TSX Venture Exchange Approval and Closes Financing
SASKATOON, SASKATCHEWAN--(Marketwired - July 13, 2017) - Saturn Oil + Gas Inc. ("Saturn" or the "Company") (TSX VENTURE:SMI)(FRANKFURT:SMK) is pleased to announce that it has acquired a section of land near Flaxcombe, Saskatchewan from a Freehold land owner. This acquisition brings Saturn's total land package in the Flaxcombe area to five sections with working interest. Additionally, the Company is pleased to announce that further to the Company's news release dated June 30, 2017, the TSX [Read more]
E3 Metals Corp Acquires 390,000 hectares of additional Metallic and Industrial Minerals Permits Strategically Positioned over the Prolific Leduc Reservoir in Alberta
Vancouver, British Columbia - (July 13, 2017) – E3 METALS CORP. (TSX.V: ETMC) (the “Company” or “E3 Metals”) is pleased to announce that it has been granted 389,934 hectares (ha) of strategically positioned Metallic and Industrial Minerals (“MIM”) permits in E3 Metals’ core area in southern Alberta. This brings E3 Metals’ total MIM permit area to 477,898 ha in Alberta, located over some of the most prospective areas for lithium rich Leduc formation water (Petro-Brine) according to historical [Read more]
Agency says OPEC compliance with output cut fell in June
PARIS - The International Energy Agency says the rate of compliance by OPEC countries to their agreed production cuts fell sharply in June, one reason why oil prices dropped to 2017 lows in recent weeks. In a monthly update, the Paris-based agency said Thursday it estimates compliance fell to 78 per cent in June from 95 per cent the previous month. However, it noted that compliance should be judged over the whole period of the production cut to March 2018, rather than just one [Read more]
Demand at Mexico onshore oil and gas auction spurs output hopes
Mexico auctioned 21 of 24 onshore oil and gas blocks on offer on Wednesday to investors from North America and Asia including tycoon Carlos Slim and Mexican newcomer Jaguar, anticipating a substantial boost for natural gas output. Monterrey-based Jaguar Exploracion y Produccion de Hidrocarburos took a stake in over half the areas awarded, which the oil industry regulator said would eventually yield around $2 billion in investments over the 30-year lifespan of the contracts. A tie-up of [Read more]
Westcore Energy Ltd. Announces Joint Venture Agreement at Flaxcombe
SASKATOON, SASKATCHEWAN--(Marketwired - July 12, 2017) - Westcore Energy Ltd. ("Westcore" or the "Company") (TSX VENTURE:WTR) announces that it has entered into a joint venture agreement (the "Agreement") with Saturn Oil & Gas Inc. ("Saturn") (TSX VENTURE:SMI) to develop two sections of land (with each company contributing one section) near Flaxcombe, Saskatchewan. Under the terms of the Agreement, each of Westcore and Saturn shall have a 50% working interest in both sections. These [Read more]