Source: U.S. Energy Information Administration, based on Drillinginfo In 2011 and 2012, more than 50% of new wells produced both oil and natural gas. Despite this phenomenon, many traditional methods for estimating oil and natural gas production attempt to track the development of oil and natural gas as separate rather than joint activities. The analytical framework of EIA's new Drilling Productivity Report (DPR) accounts for integrated production of natural gas and liquid [Read more]
Headlines
Redford heads to Washington to talk Keystone
EDMONTON - Alberta Premier Alison Redford will make her fifth trip to Washington next month to speak about the need for the Keystone XL pipeline.She will meet with officials in the U.S. State Department as they finalize an environmental assessment of the proposed transcontinental pipeline.Redford says she will also meet again with Heidi Heitkamp, the Democratic senator from North Dakota who is a strong pipeline advocate.The premier leaves on Nov. 11 for the two-day trip, during a week when the [Read more]
No Ontario environmental assessment of Line 9
TORONTO - Ontario won't conduct its own environmental assessment of a plan to reverse the flow of the Line 9 oil pipeline that runs through the province, Energy Minister Bob Chiarelli said Monday.Calgary-based Enbridge Inc. wants to reverse Line 9 and increase its capacity to move 300,000 barrels of crude oil per day, up from the current 240,000 barrels.It has also asked for permission to move different types of oil between southwestern Ontario and Montreal, including a heavier form of crude.The [Read more]
B.C. announces funds for First Nations to get involved in clean energy
VANCOUVER -- A dozen British Columbia First Nations will share $1.3 million in provincial funding to develop clean energy, Aboriginal Affairs Minister John Rustad announced Monday during a speech to the Clean Energy Association of B.C. But some First Nations fear, despite the funding, that government interest in the green option is cooling in the shadow of the province's multibillion-dollar liquefied natural gas dreams. Judith Sayers, a former chief of the Hupacasath First Nation on [Read more]
Rethinking rig count as a predictor of natural gas production
Source: U.S. Energy Information Administration, based on Drillinginfo In the past, the number of gas-oriented drilling rigs in a particular region has been a common metric for estimating the production of natural gas. However, technological advances have led the way to the widespread use of new oil and natural gas extraction techniques that have opened up a hydrocarbon resource base dramatically larger than previous estimates. Because of these new methods of extraction, generally in wide [Read more]
Storm Resources Ltd. Announces $35 Million of Equity Financings, an Operations Update and Preliminary 2014 Guidance Including Capital Investment of $81 million
CALGARY, ALBERTA--(Marketwired - Oct. 28, 2013) - STORM RESOURCES LTD. ("Storm") (TSX VENTURE:SRX) is pleased to announce that it has entered into an agreement for a $30.15 million bought deal financing and intends on concurrently completing a non-brokered financing for up to $5.025 million. In addition, Storm is pleased to provide an operations update and preliminary 2014 guidance that includes capital investment of $81 million. Equity Financing Storm has [Read more]
Blackbird Energy Announces Increase to Financing and Addition of Full Warrant to Units
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 28, 2013) - Blackbird Energy Inc. (TSX VENTURE:BBI) ("Blackbird" or the "Company") announced today that due to demand, it is increasing the size of its previous announced private placement (the "Private Placement") from $1,500,000 to aggregate gross proceeds of up to $2,500,000. The Company is increasing the unit portion of the Private Placement by $1,000,000 for a total unit offering of up to $2,000,000. In addition, the units will now [Read more]
Whitecap Resources Inc. Announces Cardium Light Oil Acquisition, Working Interest Consolidation of Eagle Lake Viking Unit and $65 Million Financing and Provides Increased 2013 Guidance
CALGARY, ALBERTA--(Marketwired - Oct. 28, 2013) - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX:WCP) is pleased to announce that it has completed the acquisition of a Cardium light oil property and a working interest consolidation of its Eagle Lake Viking unit for total consideration of $90 million (the "Acquisitions"). The Cardium acquisition ("Cardium Acquisition") adds approximately 920 boe/d (70% Oil/NGL's) of high netback, operated production with a base production [Read more]
Crocotta Energy Provides Operational Update
CALGARY, ALBERTA--(Marketwired - Oct. 28, 2013) - Crocotta Energy Inc. ("Crocotta" or the "Company") (TSX:CTA) is pleased to announce the following: CORPORATE PRODUCTION AND GUIDANCE Crocotta's corporate production averaged over 8,500 boepd for Q313 and is estimated to average 9,500 boepd for Q413. Crocotta is currently drilling at both Edson in West Central Alberta as well as at Dawson in Northeast British Columbia and is on target to meet exit guidance of 10,500 boepd. [Read more]
What’s good for you is good for us: Ontario Premier plays nice in Alberta
CALGARY - Ontario Premier Kathleen Wynne says what's good for Alberta's oil and gas industry is good for her province too."Oil and gas are clearly fundamental to Alberta's economy and to Canada's but also to Ontario's — and I want everyone to know that I understand that and I want to advance that," Wynne told a corporate crowd in Calgary on Friday."Many of our Ontario manufacturers now directly support your industry. I want us to build on that relationship."Wynne set a different tone than that [Read more]