Western Canada’s fleet of drilling rigs have risen again this week to 99 actively drilling rigs according to data collected by Baker Hughes for the week of May 26. Drilling activity is normally slow this time of year but has increased the last three weeks, and is still very active in comparison to last year’s count. From one week ago, Alberta rig counts dropped from 66 to 57, Saskatchewan added rigs once more for the third straight week – current count at 22 which is up 12 from last [Read more]
Headlines
National Energy Board Oral Hearing for Wyndwood Pipeline Expansion Project Begins on June 6
CALGARY, June 2, 2017 /CNW/ - The National Energy Board (NEB) will hold an oral hearing on Tuesday, June 6 at 9 a.m. (local time) on whether or not the Wyndwood Pipeline Expansion Project should be approved for construction and operation. The hearing will be held at the Pomeroy Inn & Suites in Chetwynd, BC. The public is welcome to attend. The Wyndwood Pipeline Expansion Project is an application from Westcoast Energy Inc. (doing business as Spectra Energy Transmission) to build and [Read more]
Pengrowth Announces Payment of Remaining US $100 Million of 2017 Term Notes
CALGARY, ALBERTA--(Marketwired - June 2, 2017) - Pengrowth Energy Corporation (TSX:PGF) (NYSE:PGH) is pleased to report that it has completed its previously announced prepayment of the remaining outstanding US $100 million (equivalent Cdn $134 million) of 6.35% senior term notes scheduled to mature on July 26, 2017. The prepayment was completed on June 2nd and leaves the Company with no outstanding debt due until August 2018. Pengrowth continues with it focused efforts to further reduce its [Read more]
Northern Blizzard Resources Inc. Proposes a Name Change to Cona Resources Ltd.
CALGARY, June 2, 2017 /CNW/ - Northern Blizzard Resources Inc. ("Northern Blizzard" or the "Company") (TSX:NBZ) is pleased to propose a name change to Cona Resources Ltd. On May 11, 2017, Waterous Energy Fund, through its affiliates, completed the acquisition of approximately 67% of the outstanding common shares of Northern Blizzard from its former private equity shareholders. Shareholders will be asked to consider and approve the name change of the Company to Cona Resources Ltd. at a [Read more]
Seven Generations Energy’s CEO transition moves ahead
CALGARY, ALBERTA--(Marketwired - June 1, 2017) - The Board of Directors of Seven Generations Energy Ltd. (TSX:VII) has approved a CEO transition plan that will see founding Chief Executive Officer Pat Carlson retire on June 30, 2017. Marty Proctor, President & Chief Operating Officer, will become President & Chief Executive Officer on July 1, 2017, which reflects a succession plan that was envisioned when Marty joined 7G in 2014. 7G's Senior Executive Leadership Team will be led by [Read more]
Cardinal Announces Acquisition of Quality Low Decline Light Oil Assets, $170 Million Financing and Updated 2017 Guidance
CALGARY, ALBERTA--(Marketwired - June 1, 2017) - Cardinal Energy Ltd. ("Cardinal" or the "Company") (TSX:CJ) is pleased to announce that it has entered into an agreement (the "Acquisition") to purchase high quality, low decline light oil assets in Western Canada (the "Assets") for cash consideration of $330 million (the "Purchase Price") before closing adjustments. The Assets to be acquired are in the Weyburn/Midale area of southeast Saskatchewan and in the House Mountain area of Alberta. The [Read more]
Trump says U.S. will withdraw from climate accord, renegotiate a deal
WASHINGTON - President Trump says U.S. will withdraw from climate accord, renegotiate a deal This is a breaking news update. Check back later for more. President Donald Trump announced Thursday that the U.S. will withdraw from the Paris global climate pact, according to a White House official, congressional officials and others briefed by the White House. "He's pulling out. It's official," said Stephen Moore, an economist who worked for Trump's campaign and participated in an [Read more]
$3.8 billion Dakota Access oil pipeline begins service
BISMARCK, N.D. - The $3.8 billion Dakota Access pipeline began shipping oil for customers on Thursday, as Native American tribes that opposed the project vowed to continue fighting. Dallas-based Energy Transfer Partners announced that the 1,200-mile line carrying North Dakota oil through South Dakota and Iowa to a distribution point in Illinois had begun commercial service. The Dakota Access pipeline and the Energy Transfer Crude Oil Pipeline from Illinois to the Gulf Coast together make [Read more]
Rising Star Resources Ltd.: Non-Core Property Divestiture – Northwestern Alberta
Sayer Energy Advisors has been engaged to assist Rising Star Resources Ltd. (“Rising Star” or the “Company”) with the sale of its non-core oil and natural gas properties (the “Properties”). The Properties are located in Whitelaw, North Sturgeon, Eaglesham and Fairview areas of northwestern Alberta. At Whitelaw, Rising Star holds a 100% working interest in ten sections of land on which there are seven natural gas wells which produce with a shallow decline. Recent net production from the [Read more]
Delphi Energy Completes Annual Credit Facility Review
CALGARY, Alberta, June 01, 2017 (GLOBE NEWSWIRE) -- Delphi Energy Corp. (“Delphi” or the “Company”) is pleased to announce that it has extended the term of its $80 million senior secured revolving credit facility with a syndicate of banks, led by Alberta Treasury Branches and including the Bank of Nova Scotia, until May 29, 2018. Delphi’s credit facility is expected to be largely undrawn upon closing of the recently announced Financing Transaction. This news release does not constitute an offer [Read more]