Trican Well Service Ltd. is about to get a lot bigger while competition in the western Canadian pressure pumping sector contracts after the company announced this morning its acquisition of Canyon Services Group Inc. in a stock and debt deal valued at $637 million.
While the typical strategy for oil and gas producers is to achieve low cost, due to profit margins and set commodity prices, Connie Van der Byl says companies are increasingly drawing sustainability into their strategies to differentiate their organizations.
The Alberta government is forecasting $455 million in natural gas and byproduct royalties for the 2017/2018 fiscal year, higher than the previous year, but way off from elevated royalty figures from the previous decade when it was the main source of provincial resource revenue. These revenue figures are absolute numbers, and are not adjusted for inflation.
Enbridge Inc. said Tuesday that its response to the release of synthetic crude from a tank valve at its Edmonton Terminal in Strathcona County is progressing well and that nearly all of the product has been recovered (DOB, March 21, 2017).
Reporting weakened fourth-quarter results, RMP Energy Inc. announced its hybrid slickwater completions at Waskahigan so far this year have resulted in better well productivity and corresponding improvement in well project economics.
High Arctic Energy Services Inc. says it sees further revenue and profit growth opportunities with increased exposure to the Canadian market through last year’s acquisition of Tervita Corporation’s Production Services segment.
Kinder Morgan Texas Pipeline LLC (KMTP), a subsidiary of Kinder Morgan Inc., kicked off a a non-binding open season for firm natural gas transportation service on its proposed Gulf Coast Express pipeline project, which will provide an outlet for increased natural gas production from the Permian Basin to growing markets along the Texas Gulf Coast.
Divestco Inc. has entered into a secured loan with BC-OSB Holdings Ltd. for $6 million with an initial draw of $5 million, repayable Sept. 15, 2020 with an interest rate of 17 per cent per year compounded monthly in arrears until maturity.
Gibson Energy Inc. announced early results of its previously announced cash tender offers to purchase any and all of its outstanding Canadian dollar denominated seven per cent senior unsecured notes due 2020 and to purchase up to US$275 million aggregate principal amount of its outstanding U.S. dollar denominated 6.75 per cent senior unsecured notes due 2021 in each case pursuant to the offer to purchase dated March 8, 2017.
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