CALGARY, May 29, 2017 /CNW/ - Tourmaline Oil Corp. (TSX:TOU) ("Tourmaline" or the "Company") is pleased to announce three new extensive exploration and production ("EP") opportunities within its existing core complexes and provide an update on its EP activities. NEW LIQUID-RICH OPPORTUNITIES Liquid-rich Viking at Brazeau River Tourmaline has been delineating a new extensive liquid-rich opportunity in the Brazeau River area at the south end of the Company's Deep Basin complex. The [Read more]
Headlines
Trans Mountain IPO to proceed despite B.C. Green-NDP deal, Kinder Morgan says
CALGARY - Kinder Morgan says it expects to proceed Tuesday with its initial public offering for the Trans Mountain expansion, just as the anti-pipeline Greens and NDP in B.C. announced they have come to an agreement that could cast the project's future into doubt. Dave Conover, a spokesman for the Houston-based energy company, said in an email that the share listing will go ahead on the Toronto Stock Exchange. Conover's confirmation came shortly after the leaders of the B.C. [Read more]
Oilpatch recovery to boost Alberta, Saskatchewan growth, says Conference Board
CALGARY - The Conference Board of Canada says a slow recovery in the oil and gas sector will allow Alberta and Saskatchewan to emerge from recession and lead the provinces in economic growth this year. In its spring provincial outlook, the board says Alberta will have the fastest growing economy this year after two years of contractions. Real GDP is forecast to increase by 3.3 per cent, thanks to startup of a new oilsands refinery near Edmonton and efforts to rebuild Fort McMurray after [Read more]
Receivership Sale: Quattro Oil and Gas Ltd.
Sayer Energy Advisors has been engaged to assist Hardie & Kelly Inc., in its capacity as Court appointed receiver and manager of Quattro Oil and Gas Ltd. (“Quattro” or the “Company”) in divesting the oil and natural gas properties held by Quattro (the “Properties”). The Properties are being offered for sale on an as-is where-is basis with no representations or warranties to be provided by the Receiver. To the extent permitted by law and the Court, the Properties will be sold free and [Read more]
Husky Approves West White Rose Project and Announces New Discovery
CALGARY, Alberta, May 29, 2017 (GLOBE NEWSWIRE) -- Husky Energy is moving forward with the West White Rose Project offshore Newfoundland and Labrador. The Company and its partners will use a fixed wellhead platform tied back to the SeaRose floating production, storage and offloading (FPSO) vessel. The platform, which has received regulatory approval, will enable the Company to maximize resource recovery. First oil is expected in 2022 and the project is anticipated to achieve a gross peak [Read more]
The Paddon Hughes Development Co. Ltd. – 2017 Property Offering
The Paddon Hughes Development Co. Ltd. (“Paddon Hughes”) has retained CB Securities Inc. (“CB Securities”) as its exclusive advisor for the sale of all of its properties in either a property or a corporate transaction. Paddon Hughes holds many non-operated working interests, freehold and over-riding royalty interests, and non-operated facility interests with third party processing revenues. There is only one operated well that is contract operated. The working interests and royalty interests [Read more]
Restructured and much smaller Penn West proposes name change to Obsidian Energy
CALGARY - Penn West Petroleum Ltd. (TSX:PWT) wants to change its name to Obsidian Energy Ltd. after surviving an accounting scandal, debt crisis and commodity price crash over the past three years. David French, who took over as CEO of the Calgary oil and gas company in October, says shareholders will be asked to approve the change because the company no longer resembles the "old Penn West." In July 2014, Penn West announced that hundreds of millions of dollars in expenses had [Read more]
Connacher Announces Q1 2017 Results
CALGARY, May 26, 2017 /CNW/ - Connacher Oil and Gas Limited ("Connacher" or the "Company") announces its financial and operating results for the quarter-ended March 31, 2017 (all amounts are in Canadian dollars unless otherwise noted). Q1 2017 Highlights Financial Q1 2017 revenue, net of royalties, increased to $46.9 million (Q1 2016 - $11.8 million) due to higher sales volumes and higher crude oil benchmark pricing Q1 2017 adjusted EBITDA increased to $1.9 million (Q1 2016 – [Read more]
US rig count rises 7 this week to 908; Colorado up 5
HOUSTON - The number of rigs exploring for oil and natural gas in the U.S. rose by seven this week to 908. A year ago, 404 rigs were active. Houston oilfield services company Baker Hughes said Friday that 722 rigs sought oil and 185 explored for natural gas this week. One was listed as miscellaneous. Colorado added five rigs while Alaska, New Mexico, North Dakota and Oklahoma each gained one. Texas lost one rig. Arkansas, California, Kansas, Louisiana, [Read more]
Canada Weekly Rig Count Up 8 to 93
Western Canada’s fleet of drilling rigs have risen again this week 93 actively drilling 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 two weeks, and is still very active in comparison to last year’s count. From one week ago, Alberta rig counts stayed the same at 66 active rigs, Saskatchewan added rigs once more for the third straight week – current count at 12 which is up 8 from last [Read more]