Alberta falls to 38th from 16th in just one year Alberta is becoming a less attractive target for oil and gas investment, according to an annual study conducted by the Fraser Institute. The survey of petroleum executives, which ranks jurisdictions around the world based on how much government policy deters investment in oil and gas, listed Alberta as the 38th
Warsaw-based ORLEN announces two acquisitions ORLEN Upstream, a Warsaw, Poland, based subsidiary of PKN ORLEN SA (ticker: PKN), which trades on the Warsaw Stock Exchange, announced two separate acquisitions today for assets in Canada and Poland. The deals included the purchase of all outstanding shares of FX Energy (ticker: FXEN) for total consideration of US$119 million for assets concentrated in
Higher royalty payments would pressure Alberta oil & gas producers A report from BMO Capital Markets warned that increasing royalty payments in the Canadian province of Alberta could dampen business as it has in the past, but that the current review could potentially be better than those in the past, as the board has a stronger grasp of the outcomes
Manitok Energy Talks 2015-16 Drill Plans, Hedging, Liquidity and 18-Month Outlook Manitok Energy (ticker: MEI) is a conventional operator focused on projects in Alberta, and the company has spent the last several years amassing a considerable land position with output now approaching 6,000 BOEPD. Its footprint now extends 449,000 gross acres (93% working interest), of which 430,000 gross acres (94%
Alberta regulator calls for partial shutdown at CNOOC project The Alberta Energy Regulator (AER) recently announced that it would partially lift a suspension order it issued August 28 against China National Offshore Oil Corp (CNOOC, ticker: CEO) subsidiary Nexen Energy ULC. With the change in the AER’s suspension decision, Nexen will be able to maintain approximately 75% of its Long
Alberta’s royalty review panel has decided not to make changes until after the end of 2016 The Alberta provincial government released a statement last week announcing that it had formed a panel to conduct a review of the oil and gas industry’s royalties. The panel, which will be chaired by ATB Financial President and CEO Dave Mowat, will not make
Orphaned wells are growing, but strong companies are still seeing strong business in Alberta The number of orphaned wells in Alberta has shot up over the last year as many companies struggle with lower commodity prices. Alberta’s Orphan Well Association (OWA) says it currently has a backlog of 704 orphaned wells, up dramatically from 164 last year. The “industry is
Three bills to kick things off The New Democratic Party’s (NDP) Rachel Notley is planning to put three bills before the legislature during its short spring session, set to last just two weeks. The first bill will change laws around political donations from corporations and unions, the second will raise the corporate tax from 10% to 12%, and Notley’s third
NDP’s historic win puts an end to four decades of PC majority in Alberta, uncertainty spooks energy stocks The New Democrat Party (NDP) will take control in Alberta, raising concerns in the local energy sector about the future business environment. The NDP majority government’s surprise win in yesterday’s election puts an end to 44 years of Progressive Conservative (PC) majority
New projections for Alberta look dim, but are a normal part of the cycle ATB Financial, the largest Alberta-based financial institution, released its quarterly projections for the province, with a somewhat pessimistic outlook. The Alberta Economic Outlook predicts a continued slide in consumer and business optimism. This combined with low oil prices is expected to have negative impacts on the
CALGARY, ALBERTA–(Marketwired – April 1, 2015) – DEETHREE EXPLORATION LTD. (“DeeThree” or the “Company“) (TSX:DTX)(OTCQX:DTHRF) is pleased to announce results from its latest Alberta Bakken horizontal well 11-20-3-16 W4M. This is the first well designed specifically to optimize the Company’s ongoing gas re-injection Enhanced Oil Recovery (“EOR”) scheme. The 2,000 meter horizontal lateral well was drilled in the base of
Blackbird Energy of Alberta Canada announced two ‘significant’ discoveries at Elmworth Blackbird Energy (ticker: BBI) based in Calgary, Alberta, announced this week that its first two operated horizontal Montney wells on Blackbird’s 69 section land block at Elmworth, Alberta, Canada, have been successfully completed and tested. The wells separately targeted the Middle Montney and Upper Montney intervals. The company is
