Western Canadian natural gas producers could be facing lower prices this summer unless production is shut in or they find ways to move it out of the region as storage levels are unusually high for this early in the injection season, say analysts.
June 29, 2016, 8:22 AM MDT
In advance of the well-publicized decision of the Alberta Court of Queen’s Bench regarding the matter of the disposition of the assets of insolvent RedWater Energy Corp. (“RedWater”), the Alberta Energy Regulator (“AER”) fired a shot across the bow of oil and natural gas producers, as well as the officers and directors of such entities, by issuing Bulletin 2016-10 on April 8, 2016. The stated purpose of Bulletin 2016-10 was “to remind licensees and their directors and officers of their statutory responsibilities when ceasing operations because of insolvency or for any other reason.”
June 29, 2016, 8:51 AM MDT
MEG Energy Corp. says low decline rates and low sustaining capital enable the company to maintain and grow production even with low oil prices.
June 29, 2016, 10:51 AM MDT
Husky Energy Inc. continues to push forward additional development plans in its Atlantic Canada offshore asset base while holding production steady at its legacy White Rose field.
June 29, 2016, 11:45 AM MDT
In 2015, most of the petroleum-related traffic on the Panama Canal moved southbound, from the Atlantic to the Pacific, according to the Energy Information Administration (EIA).
June 29, 2016, 9:27 AM MDT
As the costs for developing oilsands projects falls with the completion of already-sanctioned projects, and the relatively-high WTI price needed to create economic returns on many further developments, Pengrowth Energy Corporation expects to take advantage of such reduced costs at Lindbergh and its lower break-even price.
June 29, 2016, 10:36 AM MDT
Sayer Energy Advisors has been engaged to assist Ernst & Young Inc. in its capacity as receiver (the “Receiver”) of Northpoint Resources Ltd. (“Northpoint” or the “Company”) in divesting the oil and natural gas properties held by Northpoint.
June 29, 2016, 6 AM MDT
June 29, 2016, 11:48 AM MDT
An article that appeared in Monday’s DOB titled “Service Sector Insolvencies May Be Rising: Experts” incorrectly listed STEP Energy Services Ltd. as having “begun insolvency proceedings, some of which include the CCAA process.” The article has been updated here. The DOB apologizes to STEP for the error.
June 29, 2016, 6 AM MDT
An article that appeared in Monday’s DOB titled “Service Sector Insolvencies May Be Rising: Experts” incorrectly listed Thompson Bros. Construction as having “begun insolvency proceedings, some of which include the CCAA process.” The article has been updated here. The DOB apologizes to Thompson Bros. for the error.
June 29, 2016, 6 AM MDT
Spartan Energy Corp. has entered into definitive agreements to acquire an aggregate of 1,650 boe per day (99 per cent oil) of light oil production in southeast Saskatchewan in two separate transactions for a total aggregate purchase price of $71.7 million.
June 29, 2016, 10:34 AM MDT
June 29, 2016, 11:09 AM MDT
The Alberta government took in a total of $2.79 billion in non-renewable resource revenue in 2015/2016, noted the province’s annual report released this morning, compared to $8.95 billion in 2014/2015.
June 29, 2016, 11:21 AM MDT
Vermilion Energy Inc. has entered into a definitive purchase and sale agreement whereby Vermilion, through its wholly owned subsidiary, will acquire interests in several production and exploration assets in Germany from Engie E&P Deutschland GmbH, for total consideration of €33 million.
June 29, 2016, 6 AM MDT
NuVista Energy Ltd. has closed its previously announced funding initiatives taken to increase growth, value, and liquidity for the remainder of 2016 and 2017.
June 29, 2016, 12:48 PM MDT
Chinook Energy Inc. has completed the disposition of certain assets located in the Gold Creek area of Alberta for aggregate consideration of approximately $7.5 million, subject to customary closing adjustments, with an effective date of May 1, 2016.
June 29, 2016, 3:42 PM MDT
June 29, 2016, 11:10 AM MDT
June 29, 2016, 9:23 AM MDT
June 29, 2016, 9:22 AM MDT
The Alberta Energy Regulator (AER) has launched a news and information site, Resource.
June 29, 2016, 11:51 AM MDT
June 29, 2016, 6 AM MDT
Canadian Spirit Resources Inc. has closed its previously announced non-brokered private placement offering in two tranches.
June 29, 2016, 6 AM MDT
Point Loma Resources Ltd. and Madalena Energy Inc. announced that, further to their joint news release dated May 17, 2016, First Mountain Exploration Inc., Point Loma Energy and Madalena have completed the transactions in which: (i) Point Loma Energy Ltd. has acquired Madalena's non-core Canadian petroleum and natural gas assets focused in the Paddle River area of Alberta; (ii) First Mountain has acquired all of the issued and outstanding shares of Point Loma Energy in a reverse takeover transaction; and (iii) First Mountain has completed a 10:1 share consolidation, changed its name to "Point Loma Resources Ltd." and reconstituted its management and board.
June 29, 2016, 6 AM MDT
Arsenal Energy Inc. has closed its two previously announced property sales (approximately 450 boe per day of production) for total gross proceeds of $11.5 million.
June 29, 2016, 6 AM MDT
June 29, 2016, 8:56 AM MDT
June 29, 2016, 8:56 AM MDT
Gear Energy Ltd. has closed its previously announced bought deal financing.
June 29, 2016, 9:13 AM MDT
Toro Oil & Gas Ltd. has closed its previously announced $11.3 million bought deal financing pursuant to a short-form prospectus, including the partial exercise of the over-allotment option for total gross proceeds of approximately $12.6 million.
June 29, 2016, 9:14 AM MDT
(Reuters) — Mexico's state oil company Pemex said on Tuesday that it was restarting up the catalytic unit at its Salina Cruz refinery following a preventative shut down earlier in the day caused by a power outage.
June 29, 2016, 6 AM MDT
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