CALGARY, August 20, 2019 – geoLOGIC systems ltd. (geoLOGIC) today announced that it has purchased TOP Analysis ltd. (TOP Analysis), a provider of Canadian thermal oilsands critical information & competitive intelligence through an easy to use SaaS platform available to all disciplines. Founded in 2013, TOP Analysis has fundamentally changed the way in which companies make decisions in the thermal oilsands industry. With hundreds of users across organizations of all sizes and market [Read More…]
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Connacher Announces Q2 2019 Results
CALGARY, Aug. 19, 2019 /CNW/ - Connacher Oil and Gas Limited ("Connacher" or the "Company") announces its financial and operating results for the three and six months ended June 30, 2019 ("Q2 2019") (all amounts are in Canadian dollars unless otherwise noted). Q2 2019 Highlights Financial Q2 2019 and YTD 2019 revenue, net of royalties, increased 12% to $60.8 million (Q2 2018 - $54.2 million) and 30% to $114.3 million (YTD 2018 - $88.0 million), respectively, primarily due to higher [Read More…]
Exxon says production shut at Hibernia oil platform after power outage
Production is shut down at the 220,000-barrel-per-day Hibernia oil platform off the coast of eastern Canada, Hibernia's largest shareholder ExxonMobil Corp said on Monday, after a temporary power cut led to oil and water leaking into the ocean. Exxon estimated around 14 barrels of oil leaked. It is the second spill in a month from the platform, and comes just days after Hibernia resumed production following the mid-July leak. The platform has been producing oil since 1997 and sits roughly [Read More…]
Saudi Aramco asks banks to pitch for roles in planned IPO-sources
Saudi Aramco has formally asked major banks to submit proposals for potential roles in its planned initial public offering, two sources with direct knowledge of the matter said. Aramco's planned IPO, which could potentially raise $100 billion, is the centrepiece of Saudi Arabia's economic transformation drive to attract foreign investment and diversify away from oil. Request for proposals were sent to banks few days day ago, they said. Aramco declined to comment. The formal IPO [Read More…]
MEG Energy complains to Canada regulator over proposed Enbridge pipeline changes
Oil sands producer MEG Energy has written to Canada's energy regulator to oppose pipeline company Enbridge Inc's plan to introduce long-term fixed volume contracts on its Mainline system. MEG's open letter to the National Energy Board regulator, filed on Friday, makes it the largest producer so far to call for Enbridge to scrap its Mainline plan because of how it will affect producers' ability to ship crude to market. The 2.85 million barrel per day Mainline is North America's largest [Read More…]
Bonterra Energy Corp. Reports Fluid Release at Central Alberta Well Site
Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) ("Bonterra" or the "Company") reports that the Company has identified, responded to, and is addressing, a release of emulsion related to a pipeline that severed following a creek bank collapse due to recent flooding approximately 25 km southwest of Drayton Valley, AB. On the afternoon of August 15, 2019, Bonterra identified a release of emulsion from a pipeline that severed due to the complete collapse of a creek bank following recent [Read More…]
Oil up after drone attack on Saudi field, but OPEC report caps gains
Crude oil prices rose on Monday following a weekend attack on a Saudi oil facility by Yemen’s Houthi forces and as traders looked for signs of progress in U.S.-China trade negotiations. Price gains were, however, capped to some degree by an unusually downbeat OPEC report that stoked concerns about growth in oil demand. U.S. West Texas Intermediate (WTI) crude futures were up $1.01, or 1.8%, at $55.88 a barrel. Brent crude, the international benchmark for oil prices, was up 85 cents, [Read More…]
Sinopec Canada: Wapiti Montney Land Divestiture
Sinopec Canada (“Sinopec”) is looking to divest of a portion of its prospective Montney acreage in the Wapiti Area of Alberta. Sinopec holds an average 89% working interest in 55,200 acres (86.25 gross sections) of Montney rights in the Wapiti area that it is looking to divest as part of this package. In addition, Sinopec has a working interest in 3 horizontal Montney wells and 2 vertical Montney wells. Sinopec’s lands in the Wapiti area are offset by recent drilling activity by Seven [Read More…]
Saturn Oil & Gas Announces Second Half 2019 Drilling Program, Option Grant and Updated Corporate Presentation
Saturn Oil & Gas Inc. (“Saturn” or the “Company”) (TSXV: SOIL) (FSE: SMK) is pleased to confirm the commencement of its second half 2019 drilling program, an option grant and that an updated corporate presentation has been posted to its website. Second Half 2019 Drilling Program The Company is pleased to confirm that it has commenced its second half 2019 drilling program (the “Program”) focused on increasing production and reserves from the Viking light oil play in west-central [Read More…]
Pipeline rupture sends 250 barrels of oil into Alberta creek
The Alberta Energy Regulator says a pipeline has spilled approximately 250 barrels of crude oil into a creek. The regulator says on its website that the incident happened Thursday on a Bonterra Energy Corp. line 14 kilometres south of Drayton Valley, Alta. It says the line was shut in and depressurized, and that containment booms were installed. The AER says no impacts to wildlife were reported. Calgary-based Bonterra says in a news release that it began investigating a problem with [Read More…]
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