Headlines for Jan. 31, 2017

  1. Higher Prices Perk Up PSAC’s 2017 Drilling Expectations

    The Petroleum Services Association of Canada (PSAC) has bumped up its 2017 Canadian drilling activity forecast, now estimating industry will drill (rig release) 5,150 wells this year, up 23 per cent or 975 wells from its original estimate made in early November 2016.

  2. Cenovus’s Cost Savings Expected To Continue

    Cenovus Energy Inc. is introducing a new, simplified version of its oilsands projects’ well-pad design that is expected to have overall cost savings per well of between 35 and 50 per cent while maintaining safety, compliance and production.

  3. Trend To Longer Montney Wells Continues

    Western Canada’s Montney producers have long found that lengthier horizontal wells mean more production and greater efficiency, a trend that is continuing, according to two producers that outlined 2017 drilling plans recently.

  4. Daily Infographic: Annual Share Of U.S. Electricity Generation By Energy Source

    Rising natural gas prices could encourage power generators to lower their use of natural gas-fired capacity, according to the Energy Information Administration (EIA). Despite the additions to capacity in 2017, the STEO forecast share of total U.S. generation supplied by natural gas falls from 34 per cent in 2016 to 32 per cent in 2017. In contrast, coal’s share of generation is projected to rise from 30 per cent to 32 per cent.

  5. Enerplus Announces $450 Million Capital Budget

    Enerplus Corporation’s 2017 capital budget is $450 million, up from around $215 million the previous year, and is focused on generating strong returns on capital, maintaining the company's balance sheet strength, and delivering profitable growth.

  6. Strategic Closes $5.75 Million Private Placement

    Strategic Oil & Gas Ltd. has closed its previously announced brokered private placement offering led by Paradigm Capital Inc., pursuant to which an aggregate of 47.92 million common shares of the company including 6.25 million common shares issued upon the exercise of the agent's over-allotment option, were sold at a price of 12 cents per common share, raising aggregate gross proceeds of approximately $5.75 million.

  7. IFR In Brokered Private Placement

    International Frontier Resources Corporation has entered into an engagement letter with PI Financial Corp. to act as agent on a “commercially reasonable efforts” basis to sell, on a private placement basis, up to 16 million common shares at a price of 28 cents for proceeds of up to $4.48 million.

  8. Carr To Address Energy Crowd In Mexico

    Jim Carr, Canada's minister of natural resources, is travelling to Mexico from Jan. 31 to Feb.3, 2017, to “reaffirm Canada and Mexico's strong North American partnership” and identify areas for further co-operation, including sustainable mineral resource development, energy security and clean energy.

Next Issue → ← Previous Issue