If all goes as planned, the asset deal with Shell Canada Limited announced late Thursday will make Tourmaline Oil Corp. one of Western Canada’s premier Montney-Deep Basin players, pushing average daily production to some 215,000 boe this year, with a 2017 capital budget expected to reach $1.1 billion, the company said on Thursday.
Tourmaline Oil Corp., which announced yesterday a major asset deal with Shell Canada Limited, is also the most active driller across the Western Canada Sedimentary Basin — a title it has held for most of October.
While he was not willing to definitively state that the clouds that have been hanging over the western Canadian oil and gas sector are lifting, Mullen Group Ltd.’s top executive is feeling a whole lot more optimistic than he has in quite some time.
Mazatlan — An anti-fracking group in Mexico has called on the country’s Secretariat of Energy (SENER) to revoke the authorization for Petroleos Mexicanos (Pemex) to utilize fracking in five blocks located in the Tampico-Misantla basin, where two Canadian companies have won the rights to develop oil and gas in two blocks located in the country’s most promising unconventional resource area.
Russian federal revenue from oil and natural gas production has declined significantly in response to low oil prices. However, Russian oil and natural gas companies’ capital investment programs have been less affected, if at all. Russia’s two main hydrocarbon taxes are calculated by formulas that result in lower tax rates at lower crude oil prices. As oil prices fall, petroleum companies retain a larger share of revenue, but government revenues from oil and natural gas production fall even faster than prices.
Trilogy Energy Corp. says it is still working to determine how much crude oil emulsion leaked from a six-inch pipeline in its Kaybob Montney oil development before the spill was discovered Oct. 6, 2016.
The federal government has appointed four temporary members to the National Energy Board (NEB)to travel along the proposed Energy East pipeline route to carry out enhanced community and indigenous engagement.
DualEx Energy International Inc. has closed the acquisition of producing assets in the Peace River Arch area of northern Alberta, the acquisition of two private corporations and the non-brokered private placement offering of 81,050,000 units at a price of one cent per unit for gross proceeds of $810,500 (DOB, Oct. 3, 2016).
Tervita Corporation and certain of its affiliates and subsidiaries have made voluntary filings under Chapter 15 of title 11 of the United States Code with the U.S. Court in the Southern District of New York.
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