While the advent of horizontal drilling and multi-stage fracturing has opened up a plethora of potential targets for exploration and production companies, the ability to accurately forecast future well results and reserve potential has not kept up with the new technologies employed by industry.
TransCanada Corporation says it is disappointed and it disagrees with a decision of the Nebraska district court that ruled the state governor did not have the authority to approve an alternative route through Nebraska for the Keystone XL pipeline.
Tourmaline Oil Corp. announced that, with completion of the equity financing during the first quarter of 2014, the company is expanding its capital budget to $1 billion this year from $900 million, and increasing full-year 2014 average production guidance to 120,000 boe per day.
In September 2014, changes to the province’s Specified Gas Emitters Regulation (SGER) will occur and Duff Harper, partner head of the environment group at Blake, Cassels & Graydon LLP, said they could impact the oilsands sector.
Sayer Energy Advisors has been engaged to assist Mallee Energy Ltd. and its internal partners with the sale and/or farmout of its assets located in the Estevan area of Saskatchewan and in the Puskwa area of Alberta.
Reflecting a year of transition, refocus and property sales, Zargon Oil and Gas Ltd.’s 2013 year-end proved and probable total reserves declined 11 per cent to 27.69 million bbls of oil equivalent from 31.19 million boe at year-end 2012.
Sulvaris Inc. has received final regulatory approval from Alberta Environment and Sustainable Resource Development (AESRD) and commenced construction of a new Vitasul production facility in central Alberta.
Wood Mackenzie expects the recent cost overrun disputes for the Panama Canal expansion to be resolved with limited disruption due to the significance of the canal to global trade, but significant disruptions will crimp profitability for U.S. LNG producers, create a tighter LNG shipping market and affect the Gulf Coast petrochemical industry.
Hemisphere Energy Corporation’s first well in the Atlee Buffalo area of southeast Alberta had an initial pumping rate over the last 10 days of roughly 80 bbls of oil per day with no associated water production.
To date, a total of six LNG export projects have received approval to export natural gas to non-FTA countries; decisions will see an astounding 6.37 billion cubic feet per day of LNG leaving US soil as export terminals near completion.
Suncor Energy Inc. has received approval from the Toronto Stock Exchange to amend its existing normal course issuer bid effective as at the close of markets on Feb. 21, 2014, through the facilities of the TSX, New York Stock Exchange and/or alternative trading platforms.
International Oilfield Management Services (IOMS), which includes JEDEX Equipment, International Oilfield Equipment Brokers Ltd. and International Oilfield Equipment Rentals, announces that Brent Woolnough was promoted from controller to chief operating officer, extending his role to provide operating leadership to the daily operations of the entire group of companies.
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