MERGERS & ACQUISITIONS & DISPOSITIONS - QUARTERLY REPORTS - PRODUCTION UPDATES - CORPORATE ANNOUNCEMENTS - FINANCIAL UPDATES -3RD PARTY REPORTS
The oil and gas assets to be acquired pursuant to the Asset Acquisition consist of 330 BOE/day (20% light oil and liquids), from Cretaceous and Triassic reservoirs predominantly in the Rycroft, Valhalla and Gordondale areas of northwest Alberta
Journey Energy Inc. announces the closing of the sale of 37.5% of its shares by its majority shareholder
Upon closing of the disposition the purchaser, Maple Investments Limited ("MIE"), will own 37.5% of the issued and outstanding Shares of Journey.
Perisson will be the operator of the properties and intends to improve the operating efficiencies of the existing wells at Ribstone by recompleting one of the existing oil wells, and converting another well to provide onsite water disposal and reduce the current operating expenses.
* AltaGas Ltd. to Issue Third Quarter
* Jericho Oil Extends Term of 4,230,518
Read all this week's announcements...
North American Rotary Rig Counts...
- Canadian rig count up 2 at 134
- U.S. rig count down 5 at 511
Read this week's complete summary...
Tundra Energy Marketing Limited to Acquire the South East Saskatchewan Pipeline System From Enbridge Income Fund Holdings Inc.
Following the closing of this transaction, TEML will handle over 250,000 barrels per day of crude oil production from Saskatchewan, Manitoba and North Dakota.
The Acquisition is expected to provide Manitok with a 37% increase to its anticipated corporate production for November 2016 and additional growth potential
Today's Energy Prices
This price represents a decrease of approximately 18 percent from the price for April 1, 2016 to September 30, 2016
In addition, Premier have agreed in principle to sell their 40.1% working interest in the Bagpuss JV to Reach Halibut Limited.
In Related News
Real gross domestic product grew 0.5% in July, led by higher output in the mining, quarrying, and oil and gas extraction sector. The rise in July followed a 0.6% increase in June, which had essentially offset an equivalent decline in May.
"We're talking about the possibility of relatively small cuts with the potential that further additions from 'exempted' members overwhelm reductions made elsewhere in the cartel."
Enbridge Inc. Announces $1.075-Billion Sale of South Prairie Region Assets
"The monetization of these non-core assets at an attractive valuation provides a low-cost funding source for the Enbridge group and further supports Enbridge Inc.'s industry leading cash flow and dividend growth outlook."
AltaGas North Pine Liquids Separation Facility Receives Permit From B.C. Oil and Gas Commission
To be located approximately 40 km northwest of Fort St. John, British Columbia, it is expected that the North Pine Facility will be connected to existing AltaGas infrastructure in the region.
US Oil Sands Inc. Announces PR Spring
Project and Liquidity Update
As previously disclosed, the Company has limited working capital for funding of remaining Project completion, commissioning and start-up, operations and ongoing corporate G&A costs.
New West Energy Services Inc. Announces Its First Quarter Results
The Corporation is continuing to actively pursue an acquisition or merger which will strengthen the Corporation and position it for growth when oil and gas activity levels increase.
TAG Oil Updates Recent Operational Activities
A low-cost recompletion to an existing wellbore at Sidewinder demonstrated the potential of a previously unproduced oil leg following testing.
In Related News
Packers Plus Increases Stimulation Efficiency and Reservoir Coverage for Operator in the Montney Formation
"Increasing stage count with this innovative approach not only provides greater stimulated reservoir volume, but also allows for effective treatment of longer laterals,"
NEB issues Amending Safety Order to Trans-Northern Pipelines Inc.
The NEB had issued three Safety Orders on sections of TNPI's Ontario-Quebec pipeline system in response to pipeline releases and overpressure incidents that occurred in 2009 and 2010