Strath Resources Ltd. (“Strath”) is pleased to announce that it has reached an agreement with Paramount Resources Ltd. (“Paramount”) for the acquisition of Paramount’s assets in the Resthaven/Jayar area of the Kakwa region for total consideration of $340 million. Acquisition Highlights 201 sections of land (152 net) with multi-zone potential, including 77 sections of Montney rights (75 net) 62 mmcf/d
Deal struck between Encana and Keyera Partnership adds 33,000 barrels of raw condensate processing capacity and 170 MMcf/day of net inlet gas processing; Keyera will own the facilities at Pipestone Encana Corporation (ticker: ECA) and Keyera Partnership have reached an agreement where Keyera will acquire and fund the remaining development of Encana’s Pipestone liquids hub and Encana’s planned Pipestone processing
Blackbird Energy Inc. (ticker: BBI) reported for the three months ended January 31, 2018, a net loss of CDN$1.71 million, or a net loss per share of $(0.00). For the six months ended January 31, 2018, the company reported a net loss of $3.4 million, or $(0.00) per share. Note: (1) See the company’s Q2 2018 financial statements and related
2017 average Q4 production was 197,000 BOEPD Montney producer Seven Generations Energy Ltd. (ticker: VII) reported a net income of $83.6 million, or $0.23 per share for the fourth quarter of 2017. For the full year, the company posted a net income of $562.5 million, or $1.54 per share. Fourth quarter liquids production was 115,100 Bbls/d, which included 63,700 Bbls/d
Advantage Oil & Gas Ltd. (ticker: AAV) reported a net income of $95 million for 2017, or $0.51 per share. The company said that the liquids rich wells at Wembley and Progress in Alberta contributed to this positive net income. In Q4 2017, net income was $21.4 million, or $0.12 per share. Making progress at Wembley, Valhalla and Progress Advantage’s
Blackbird Energy Inc. (ticker: BBI) has released test results from its 2-20-70-6W6 Middle Montney delineation well, which is located on the company’s eastern multi-interval delineation block. The well is more than five kilometers east of Blackbird’s previous operated development drilling. The 2-20-70-6W6 Middle Montney Delineation well produced at a short-term rate of 1,163 BOEPD, including 824 Bbls/d of condensate, Blackbird
Duvernay, Montney could rival the richest U.S. deposits From Reuters/CBC The revolution in U.S. shale oil has battered Canada’s energy industry in recent years, ending two decades of rapid expansion and job creation in the nation’s vast oilsands. Now Canada is looking to its own shale fields to repair the economic damage. Canadian producers and global oil majors are increasingly exploring the
Blackbird Energy Inc. (ticker: BBI) had production results from three new development wells on its condensate-rich Pipestone/Elmworth Montney play. Blackbird also completed its planned delineation program and provided its preliminary 2018 outlook. Initial Production Results Blackbird’s total corporate December sales production averaged an estimated 1,972 BOEPD (55% liquids), with production online for 28 of a possible 31 days through the
Encana plans to invest virtually all its anticipated 2018 capital in its core assets, with around 70% directed to the Permian and Montney Encana Corp. (ticker: ECA) anticipates between 25% to 35% production growth from its core assets from the fourth quarter of 2017 to the fourth quarter of 2018, with significant oil and condensate growth in the second half
Advantage Oil & Gas Ltd. (ticker: AAV) said that the company’s board of directors has approved a 2018 capital budget of $175 million. The budget is funded through cash flow and will advance the Montney development and increase liquids production growth through 2018. Other assets at Glacier, Valhalla, Wembley, and Progress will also be developed. Advantage recently developed a four
2017 highlights Equity financing – closed an upsized and over-subscribed marketed public offering for total gross proceeds of $84.8 million on March 14, 2017 Reserves – reported Pipestone/Elmworth Montney proved plus probable (2P) reserves of $395 million Revenue – $6.2 million during the year ended July 31, 2017, with $48.8 million of working capital surplus Q4 and 2017 production: While
Debt-free Blackbird Energy chalks up production record, scores new long-term gas processing agreements, secures ownership option for processing capacity in the Montney In an operational update put out by the company Wednesday, Blackbird Energy (ticker: BBI) highlighted several announcements including a new company record for production and a new gas processing agreement in Alberta’s Montney play. For the period of
