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360 Articles

Tamarack Valley Reports Record Production

Tamarack Valley Reports Record Production

Tamarack Valley production exceeds guidance in Q4’2016; targets 140-150 new wells in 2017 Alberta-based Tamarack Valley (ticker: TVE) announced its fourth quarter results as well as the company’s 2017 capital program. The company said that production exceed it previous guidance for the quarter, and that it plans to drill 140 to 150 net wells in 2017, the majority of which[Read More…]

January 18, 2017 - 4:52 pm 360 Articles, Canada, Closing Bell Story, Crude Oil News
Stabilizing Oil Prices Lead Canadian Entrepreneurs to Target $96 Billion Investment for 2017

Stabilizing Oil Prices Lead Canadian Entrepreneurs to Target $96 Billion Investment for 2017

70% of entrepreneurs expect increased sales, up from 45% last year: Canadian businesses are ready to invest and they have growth on their minds–BDC Lack of confidence in the economy is no longer a top barrier to investment, according to the Business Development of Bank of Canada (BDC). Canadian entrepreneurs plan to boost business investment to $96.6 billion in 2017,[Read More…]

January 16, 2017 - 5:13 pm 360 Articles, Canada, Closing Bell Story, Commodity Pricing
Blackbird Energy Completes Elmworth Gathering System, Updates Montney Drilling and Stage Completions

Blackbird Energy Completes Elmworth Gathering System, Updates Montney Drilling and Stage Completions

Blackbird Energy Inc. (ticker: BBI) completed the construction of its 100% owned and operated 12-14-70-7W6 Elmworth facility and gathering system near the budget of $16.1 million. Commencement of production is anticipated by the end of January 2017, Blackbird said in a press release today. In conjunction with the construction of the facility and gathering system, Blackbird has tied-in the 6-26,[Read More…]

January 11, 2017 - 5:11 pm 360 Articles, 360 Profile Member, Canada, Closing Bell Story, E&P
AltaGas Announces Positive FID on Ridley Island, Canada’s First Opportunity to Ship its Propane Directly to Asia

AltaGas Announces Positive FID on Ridley Island, Canada’s First Opportunity to Ship its Propane Directly to Asia

Canadian advantage:  Ridley Island’s planned 1.2 MMTPA capacity will allow Western Canada’s producers to sell propane to Asia from B.C. with transit time of 10 days vs. 25 days from U.S. Gulf coast AltaGas Ltd. (ticker: ALA) announced a positive Final Investment Decision (FID) this week on its Ridley Island Propane Export Terminal, having received approval from federal regulators, the company[Read More…]

January 6, 2017 - 4:37 pm 360 Articles, Canada, Closing Bell Story, International
Source: Encana; Sound wall around DJ Basin well site

Encana Raises Production and Margin Expectations for 2017

Strong fourth quarter results prompt Encana to increase 2017 expectations Calgary-based Encana Corp. (ticker: ECA) announced today that following a strong performance in the fourth quarter of 2016, the company now believes that production will reach or exceed the high end of its previously announced guidance, and that it will see improved margins on a per-barrel basis in 2017. Encana[Read More…]

January 4, 2017 - 5:26 pm 360 Articles, Canada, Closing Bell Story, E&P
Alberta Royalty Rates will Remain Largely Unchanged Except for One Change…

Alberta Royalty Rates will Remain Largely Unchanged Except for One Change…

New incentives program designed to reward efficient drillers Alberta’s provincial government has decided to leave royalty rates largely unchanged after the leadership ran on a platform that promised to change rates to ensure the province was receiving its fair share. Alberta Premier Rachel Notley said that if the review found the timing was wrong to raise royalty rates, her party[Read More…]

January 3, 2017 - 5:42 pm 360 Articles, Canada, Closing Bell Story, Crude Oil News
Howard Energy Partners Reveille Processing Plant

Veresen Announces New Capital Allocations to Montney Midstream Projects

95% of 2017 Capital Program Focused on Montney, $195 million to Support Liquids-rich Gas Handling Veresen Inc. (ticker: VSN) has announced the sanction of an additional $195 million to new gas processing facilities at Veresen Midstream, further expanding its footprint in the prolific, liquids rich Montney region of Northern Alberta and British Columbia. This builds on the company’s recently announced[Read More…]

December 28, 2016 - 5:10 pm 360 Articles, Canada, Closing Bell Story, Midstream, MLPs
Transworld Technologies Lands First Canadian Bioenhanced Oil Recovery Project

Transworld Technologies Lands First Canadian Bioenhanced Oil Recovery Project

Transworld Technologies will partner with Imaginea Energy in the Jenner Oil Field, Upper Mannville Golden, Colorado-based Transworld Technologies Inc. (TTI) announced that the company will implement its bioenhanced oil recovery (BioEOR) technology in Canada for the first time. The project is being done in partnership with Calgary’s private equity-backed Imaginea Energy, a 5,500 BOEPD producer. TTI’s technology will be used[Read More…]

December 15, 2016 - 5:14 pm 360 Articles, Canada, Closing Bell Story
Precision Drilling Trades its Coil Tubing Business for a Service Rig Business

Precision Drilling Trades its Coil Tubing Business for a Service Rig Business

Precision Drilling announces swap with Essential Energy Services Calgary-based Precision Drilling Corp. (ticker: PDS) announced Tuesday that the company will swap its Canadian Coil Tubing operations for Essential Energy Services’ (ticker: ESN) service rig business. In addition to the swap of assets, Precision will make a cash payment of $12 million to Essential, the company said in a press release.[Read More…]

December 13, 2016 - 6:42 pm 360 Articles, Canada, Closing Bell Story, Mergers & Acquisitions
Husky Energy $2.6-$2.7 Billion Capital Program from Cash Flow, Ops Guidance for 2017

Husky Energy $2.6-$2.7 Billion Capital Program from Cash Flow, Ops Guidance for 2017

  Husky Energy (ticker: HSE) announced today that its capital expenditure program for 2017 will be in the range of $2.6-2.7 billion and is expected to be fully funded within cash flow from operations. Husky said its overall sustaining and maintenance capital requirements have decreased about 25% over the last two years and are forecast to be in the range of $2.2-2.3[Read More…]

December 13, 2016 - 4:09 pm 360 Articles, Canada, Closing Bell Story, Downstream
Canadian Natural Resources Raises $527 Million with Cold Lake Pipeline Sale

Canadian Natural Resources Raises $527 Million with Cold Lake Pipeline Sale

Canadian Natural Resources Limited (ticker: CNQ) said it has reached an agreement to sell all of its interests in the Cold Lake Pipeline to Inter Pipeline Ltd. The transaction consists of the monetization of the Company’s entire 15% ownership interest of Cold Lake Pipeline Ltd. and its 14.7% ownership interest in the Cold Lake Limited Partnership. When the deal closes[Read More…]

December 12, 2016 - 1:47 pm 360 Articles, A&D Transactions, Canada, Closing Bell Story, E&P
Strategic Oil & Gas Announces Capex for 1H 2017

Strategic Oil & Gas Announces Capex for 1H 2017

$30 million capital budget will be focused on six Muskeg wells Calgary-based Strategic Oil & Gas (ticker: SOG) announced its capital budget for the first half of 2017 Friday. The company plans to spend $30 million in the first six months of the year, Strategic said in its press release. The majority of the budget will go toward six Muskeg[Read More…]

December 9, 2016 - 5:34 pm 360 Articles, Canada, Closing Bell Story
TransCanada Moving Ahead with $655 Million Gas Pipeline

TransCanada Moving Ahead with $655 Million Gas Pipeline

TransCanada’s Saddle West natural gas project will have a transportation capacity of 355 MMcf/d Calgary-based TransCanada Corp. (ticker: TRP) announced Wednesday that the company’s wholly-owned subsidiary, NOVA Gas Transmissions Ltd. will proceed with its $655 million Saddle West natural gas project. The project is expected to increase total natural gas transportation capacity on the northwest portion of the system by[Read More…]

December 9, 2016 - 12:39 pm 360 Articles, Canada, Closing Bell Story, Midstream
Manitok Sets New Record Production

Manitok Sets New Record Production

Manitok announces production of 7.1 MBOEPD Calgary-based Manitok Energy Inc. (ticker: MEI) announced that the company has set a new production record. Manitok is currently producing at levels exceeding 7.1 MBOEPD (40% light oil and liquids), based on field estimates, surpassing its previously announced record production of 6.5 MBOEPD. Manitok attributed the increased production to three wells that the company[Read More…]

December 8, 2016 - 4:46 pm 360 Articles, 360 Profile Member, Canada, Closing Bell Story
Oklahoma is the Most Attractive Place for Oil and Gas Investment: Fraser

Oklahoma is the Most Attractive Place for Oil and Gas Investment: Fraser

Oklahoma finished No. 1 as the best place where ‘policy does not deter upstream investment’ Canada’s Fraser Institute says that Oklahoma has beaten Texas in something else. According to the Canadian think tank’s annual global survey of petroleum sector executives, Oklahoma is the most attractive jurisdiction around the world for oil and gas investment. “Most U.S. states are bucking the global trend of[Read More…]

Bellatrix Sells Non-Core Harmattan Assets for $80 Million

Bellatrix Sells Non-Core Harmattan Assets for $80 Million

Western Canadian Producer Sells Acreage to Focus on Spirit River Bellatrix Exploration (ticker: BXE) has announced that it will sell certain non-core assets in the greater Harmattan area of Alberta for $80 million. The deal will close at year-end. The deal will be funded by $65 million in cash and $15 million in a vendor take-back loan with interest of[Read More…]

December 5, 2016 - 6:57 pm 360 Articles, A&D Transactions, Canada, Closing Bell Story, E&P
Calgary-based Precision Drilling Corporation (ticker: PDS) announced planned capital expenditures for 2017 of CAD$109 million.

Precision Drilling Announces its 2017 CapEx Plan

Precision Drilling has 110 drilling rigs currently running in North America: seeing strengthening demand – 45 rigs under contract for 2017; company has filled 1,000 positions Calgary-based Precision Drilling Corporation (ticker: PDS) announced planned capital expenditures for 2017 of CAD$109 million. The company said its 2017 capital expenditure plan would be allocated as follows: $51 million to upgrade existing rigs,[Read More…]

December 5, 2016 - 5:19 pm 360 Articles, Canada, Closing Bell Story, Oilfield Services
Manitok Reports Stronger Netbacks and Higher Production

Manitok Reports Stronger Netbacks and Higher Production

Manitok Energy Inc. (the “Corporation” or “Manitok“) (TSX VENTURE:MEI) announces its financial and operating results for the third quarter of 2016. The full text of Manitok’s third quarter results are contained in its unaudited condensed interim consolidated financial statements as at and for the three and nine months ended September 30, 2016 and the related management’s discussion and analysis, copies[Read More…]

December 1, 2016 - 4:42 pm 360 Articles, 360 Profile Member, Canada, Closing Bell Story
IFR Moves Forward in Mexico

IFR Moves Forward in Mexico

IFR jointly owned partner Tonalli shoots for first well on Tecoluta in 1H 2017 International Frontier Resources Corporation (ticker: IFR) has officially taken over operatorship of onshore oil and gas development block Tecolutla from state-owned PEMEX in Mexico.  IFR’s jointly owned Mexican company Tonalli Energia has initiated oil field services contracting, and the company said it has found service providers[Read More…]

November 30, 2016 - 3:50 pm 360 Articles, 360 Profile Member, Canada, Closing Bell Story, Mexico
Trudeau Gives Thumbs Up to Two Pipelines, Nixes Another

Trudeau Gives Thumbs Up to Two Pipelines, Nixes Another

Canada added to the onslaught of energy news this week by approving and disapproving oil pipelines. Yesterday’s announcement of two approved pipes will make it possible for Canada to move about 1 MMBOPD to global markets from Alberta’s oilsands. The Trudeau administration approved Kinder Morgan’s (ticker: KMI) Trans Mountain pipeline and Enbridge’s (ticker: ENB) Line 3, while it rejected the Northern Gateway project.[Read More…]

November 30, 2016 - 10:53 am 360 Articles, Canada, Closing Bell Story, Midstream, Oil Sands
Blackbird Energy Sets Montney Completion Record without Coil Tubing

Blackbird Energy Sets Montney Completion Record without Coil Tubing

Stage Completions’ Bowhead II Technology Allows Blackbird to Achieve Montney Record in 1 Hour Stages Blackbird Energy’s (ticker: BBI) 102/2-20-70-7W6 Upper Montney well has set a new record for the play. Using Stage Completions’ Bowhead II fracturing system, Blackbird was able to complete a 3,757 ton, 76 stage completion program at rates as high as 10 cubic meters per minute[Read More…]

November 29, 2016 - 4:54 pm 360 Articles, 360 Profile Member, Canada, Closing Bell Story
Source: Indianaaffairs.gov

Canada Wants to Phase Out Coal by 2030

Environment Minister Catherine McKenna speeds up Canada’s climate plan; further coal mining jobs in U.S. and Canada at risk Canada will completely phase out coal power by 2030 as part of the country’s goal to meet greenhouse-gas reduction targets. Upon returning from the United Nations-sponsored climate-change conference in Morocco, Canadian Environment Minister Catherine McKenna said coal power in the country[Read More…]

November 23, 2016 - 3:04 pm 360 Articles, Canada, Closing Bell Story
Blackbird Energy Spuds Well

Blackbird Energy Spuds Well

Blackbird spuds 3-28 Montney well at Elmworth Blackbird Energy (ticker: BBI) announced that it has spud the 3-28 Upper Montney well. The well is located in the play’s “volatile oil” window, which is defined as having more than 250 barrels of condensate per MMcf of natural gas. The well has a lateral length of approximately 2,150 meters, and will be[Read More…]

November 23, 2016 - 12:56 pm 360 Articles, 360 Profile Member, Canada, Closing Bell Story
Oil Comes Back to Life in Canada

Oil Comes Back to Life in Canada

Canada is expecting a 31% increase in the number of wells drilled in 2017: CAODC Two years after the collapse in oil prices forced the oil and gas industry to scale back drilling, the Canadian Association of Oilwell Drilling Contractors (CAODC) is forecasting a year-over-year increase in the number of wells drilled in Canada. Companies will drill 4,175 wells net[Read More…]

November 22, 2016 - 5:46 pm 360 Articles, Canada, Closing Bell Story
The Market is Taking Note of The Montney Players

The Market is Taking Note of The Montney Players

The stacked pay in the Montney is delivering higher EURs than the Permian at a fraction of the land cost Oil and gas operators have been increasingly sending capital in the Permian Basin as they look for the strongest returns amid continued weakness in crude oil prices. Billions of dollars have poured into the basin, which currently holds 41% of[Read More…]

November 18, 2016 - 5:37 pm 360 Articles, 360 Profile Member, Canada, Closing Bell Story
Source: Energybc.ca

How Alberta Mismanaged the Energy Boom Compared to Texas

Fraser Institute Study Compares How Texas and Alberta Managed Public Finances between 2004 and 2014 A new report from the Fraser Institute, titled “One Energy Boom, Two Approaches: Fiscal Restraint Has Left Texas in Better Shape than Alberta,” concludes that Alberta’s undisciplined spending and fiscal mismanagement rather than the drop in energy prices was been responsible for its history of deficits[Read More…]

November 17, 2016 - 6:56 pm 360 Articles, Canada, Closing Bell Story
TransCanada Closes $3.5 Billion Common Share Offering

TransCanada Closes $3.5 Billion Common Share Offering

Proceeds to help TransCanada fund acquisition of Columbia Pipeline Group TransCanada Corporation (ticker: TRP) completed its public offering of Common Shares. The Offering was announced on November 1, 2016 when TransCanada entered into an agreement with a syndicate of underwriters led by TD Securities, BMO Capital Markets and RBC Capital Markets under which they agreed to purchase from TransCanada and sell[Read More…]

Gear Up for Bigger Blocks in Mexico’s Second Round of Onshore Bidding

Gear Up for Bigger Blocks in Mexico’s Second Round of Onshore Bidding

Mexico’s data room will become available to companies looking to bid in the second round starting December 15 Mexico has been taking large steps to liberalize its oil and gas industry since 2013 when the government decided to end the 77-year monopoly of state-owned PEMEX. Several rounds of bidding have taken place already, and the second round of onshore assets[Read More…]

November 16, 2016 - 4:43 pm 360 Articles, 360 Profile Member, Canada, Closing Bell Story
Manitok Energy’s Second Carseland Well IPs at 442 BOEPD

Manitok Energy’s Second Carseland Well IPs at 442 BOEPD

Manitok Energy Inc. (Ticker: MEI) announced initial production test results from the second horizontal well of its Q4 drilling program. The 13-33-022-25W4 horizontal well, in which Manitok has 100% working interest, in Carseland, targeted the Lithic Glauconitic (“LG”) zone and was completed with a multi-stage fracture stimulation. In the last 24 hours of the production test, and after flowing back[Read More…]

Seven Generations Energy Co-Founder Retires

Seven Generations Energy Co-Founder Retires

Steve Haysom, a 7G founder, lead geologist and senior vice president at Seven Generations Energy (ticker: VII), has retired, the company announced in a press release. Seven Generations said Haysom joined the company in 2008, the company’s first year, and has led the geoscience discovery of the liquids-rich natural gas Kakwa River Project. “As a co-founder, Steve contributed enormously to 7G’s success,”[Read More…]

November 11, 2016 - 5:56 pm 360 Articles, Canada, Closing Bell Story, People