Using the downcycle to your advantage The last two years have been a difficult period for the oil and gas industry. The drop in oil prices following OPEC’s November 2014 decision to defend market share over oil prices left the industry in a world of hurt as the value of a barrel of oil tumbled from over $100 to less
Blackbird Energy announces commissioning of its Elmworth / Pipesone facility Calgary-based Blackbird Energy (ticker: BBI) announced Thursday that its 100% owned and operated Elmworth / Pipestone facility gathering system is currently being commissioned. The company expects that it will achieve initial Montney production on Monday, January 30, 2017, BBI said in a press release. Blackbird Chairman, CEO and President Garth
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,
Blackbird Energy (ticker: BBI) announced its financial results for the three months ended October 31, 2016. Blackbird’s assets include Elmworth Montney property located near Grande Prairie, Alberta, as well as non-core assets in Saskatchewan and Alberta. Elmworth consisted of 88.75 gross sections (56,800 gross acres) or 87.25 net sections (55,840 net acres) of highly prospective Montney lands as at October
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
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
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
Blackbird to continue delineating its liquids-rich Montney assets Calgary-based Blackbird Energy (ticker: BBI) announced two non-brokered private placements of common shares Tuesday. 27,150,000 shares will be issued in total for proceeds of approximately $13 million. 16,500,000 of those shares were issued on a “flow-through” basis pursuant to the Income Tax Act (ITA) in respect of Canadian Exploration Expenses (CEE) at
Blackbird Energy receives approval for pipeline gathering system Calgary-based Blackbird Energy (ticker: BBI) announced today that the company received approval for its infrastructure development, giving it a clear line of sight on future cash flow. The company immediately commenced construction on its 100% owned and operated Elmworth facility and pipeline gathering system, which is expected to be completed in December
Approved: Blackbird Energy will be 10% minority interest owner in completions technology and services company Blackbird Energy (ticker: BBI) announced Thursday that the company received final approval from the TSX Venture Exchange for its proposed acquisition of an indirect 10% minority interest in Stage Completions Inc. for C$3 million in cash. The technology and services company specializes in pin-point multistage
Blackbird: looking at 2 tons per linear meter, coarser proppant, 40 stages Blackbird Energy (ticker: BBI) is a technology-focused oil and gas exploration and development company working in the liquids-rich Montney fairway at Elmworth, near Grande Prairie, Alberta. Blackbird holds a 100% working interest in 83.75 sections of highly prospective Montney rights. Blackbird Energy’s Chairman and CEO Garth Braun spoke to Oil
Canada hopes to attract greater foreign investment with lower political risk and a skilled workforce Canadian Finance Minister Bill Morneau said that the country is considering relaxing rules on foreign investment in order to attract more capital and spur growth. Morneau indicated that these loosened policies may even include restrictions on the ability of state-owned enterprises to invest in Canada,
