Acceleware Ltd. won a $10.0 MM non-repayable grant to do commercial-scale testing of its clean energy technology for bitumen and heavy oil extraction.
Advantage Oil & Gas Ltd. announced its 2018 capital expenditure budget will be $175.0 MM.
AltaCorp and ATB announced a ‘deepening strategic relationship’ as the banker becomes the company’s largest shareholder.
AltaGas Ltd. announced its 2018 capital expenditure budget will be $400.0 MM.
• It announced its January dividend is $0.1825/share.
Altura Energy Inc. announced its 2018 capital expenditure budget will be $15.0 MM.
ARC Resources Ltd. announced its 2018 capital expenditure budget for 2018 will be $690.0 MM.
Athabasca Oil Corporation announced its 2018 capital expenditure budget will be $140.0 MM.
Autopro Automation Consultants Ltd. announced it has relocated its Fort McMurray, AB office space to a new, larger space (301A, 9816 Hardin Street) as part of its 15th anniversary celebrations.
Baytex Energy Corp. announced its 2018 capital expenditure budget will be $325.0 MM.
Bellatrix Exploration Ltd. announced its 2018 capital expenditure budget will be $65.0 MM.
Blackbird Energy Inc. announced its December sales production averaged 1,972 boe/d (55% liquids), with production online for 28 out of possible 31 days.
Black Diamond Group opened a 252-person lodge at Chetwynd, BC called Little Prairie Lodge.
BlackPearl Resources Inc. announced construction on its phase 2 expansion of the Onion Lake thermal project was ahead of schedule and on budget. Commissioning of the facilities has begun and steam injection started in February.
Blackstone Industrial Services closed its acquisition of Nuovo Parts Inc.
Bonterra Energy Corp. agreed to sell a gross overriding royalty in its Pembina Cardium D pool for $52.0 MM.
• The company announced its 2018 capital expenditure budget will be $74.0 MM.
Bouchier Group has successfully finished its five-year share buyback from the Carillion partnership and now owns the company 100%. It’s is headquartered at Fort McKay First Nations.
Calfrac Well Services Ltd. announced its 2018 capital expenditure budget will be $132.0 MM.
Calgary Business Hall of Fame was pleased to induct S.P. Shouldice (posthumously) of Nowsco and Pat Daniel, past president & CEO of Enbridge, into its 2017 honoured business leaders.
Canadian Natural Resources Limited announced its 2018 capital expenditure budget for 2018 will be $940.0 MM.
Canadian Payroll Association report shows a high level by Canadians over wages, savings, and retirement.
Carbon Competitiveness Incentives came into effect January 1, 2018.
Cardinal Energy Ltd. announced its 2018 capital expenditure budget will be $132.0 MM.
Catapult Environmental Inc. opened its Fox Creek Water Management Facility expansion.
Cequence Energy Ltd. closed two transactions, worth $4.3 MM, of non-core assets in the Lower Montney.
Cathedral Energy Services Ltd. secured $20.0 MM credit facility.
Cenovus Energy Inc. sold a portfolio of assets in the Palliser area, southeastern Alberta to Torxen Energy and Schlumberger for $1.3 BN.
• The company has agreed to sell a 62% interest in its Weyburn, SK asset portfolio to Whitecap Resources Inc. for $940.0 MMM.
• It announced its 2018 capital expenditure budget will be $1.5 BN.
• The company announced plans to fire 15% of its staff (500-700 employees and contractors) to trim costs.
Chevron Corporation announced its 2018 capital expenditure budget will be $18.3 BN (US).
• Its Canadian affiliate announced it had received the green light to develop a portion of its lease holdings in the Kaybob-Duvernay areas. The program will use long-term infrastructure development and service agreements with Pembina Pipeline and Keyera Corporation.
CO2 Solutions has gone to the markets to raise $1.5 MM in debt.
• The company closed $1.5 MM convertible debt and warrants offering.
Connacher Oil & Gas Limited announced it had closed a $16,521,164.0 (US) bitumen royalty rights sale.
Crescent Point Energy Corp. announced its 2018 capital expenditure budget will be $1.61 BN.
• It achieved a 2017 exit rate of 183,000 boe/d and expects its 2018 growth will be 7%.
CWC Energy Services Corp. agreed to acquire C&J Energy Service’s Canadian business unit for $37.5 MM.
• It closed its $37.5 MM acquisition of C&J, making it the largest active service rig contractor in Canada.
• It announced its 2018 capital expenditure budget will be $12.7 MM.
• The company closed $26.0 MM rights offering.
Dynacorp Energy Services and Energes Oilfield Solutions LLC have merged and changed name to EnerCorp Sand Solutions.
Emerald Bay Energy Inc. announced closing of its final tranche of $150.0 K in a private placement.
• The company tied in its Kuhn 4 well at Wooden Horse in Guadeloupe, Texas.
• It moved in a service rig to perforate the Eagle Ford formation at Wooden Horse.
Enbridge Inc. received the Presidential Permit for its Alberta Clipper Line 67 pipeline replacement project that will boost volumes from Edmonton to Superior, WI to 890,000 bbl/d from 450,000 bbl/d.
• The company announced it plans to sell $3.0 BN in assets in 2018.
• It is on the market to raise $1.5 BN in equity by private placement.
• It’s Income Fund Holdings Inc. is on the market to raise $500.0 MM in equity.
• The company closed $500.0 MM in preferred share issue.
• It closed $718.0 MM in equity financing.
• The company received NEB approval of its $53.0 MM Line 21 replacement program.
Enerplus Corporation announced its 2018 capital expenditure budget will be $535.0 MM.
Ensign Energy Services Inc. announced its 2018 capital expenditure budget will be $64.0 MM.
Explor Geophysical Ltd. acquired a high-density 3D seismic survey that attained trace densities ranging from five to seven million seismic traces per square km, beating the company’s previous record.
ExxonMobil is reorganizing its refining operations – including 22 refineries in 14 countries processing 5 MM bbl/d – to boost profits.
FortisBC shipped Canada’s first LNG shipment to China, supplied from its Tilbury facility in Delta, BC.
Fort McKay Cree First Nation and Mikisew Cree First Nations closed $545.0 MM debt financing/bond issue.
Fraser Institute ranks Texas as #1 global destination for oil industry capital. Alberta has fallen to #33.
Frontera Energy Corporation reports the full field blockade on Block 192 in Peru has been lifted. It is working with Indigenous groups and PetroPeru to restart production.
• It announced it had achieve production rates (after royalties and internal consumption) of 71,015 boe/d at year end.
• Q4, 2017 production averaged 64,445 boe/d, down from 71,068 boe/d in Q3, 2017.
Gaz Metro changed its name to Energir.
Gear Energy announced its 2018 capital expenditure budget will be $58.0 MM.
Gen III is purchasing the idle Bowden oil refinery having negotiated a 20-year lease with Parkland Fuel Corp. The company plans to invest $90.0 MM to upgrade and retrofit the facilities to meet today’s environmental standards.
Georox Resources Inc. acquired a portfolio of Saskatchewan oil and gas assets for $4.5 MM.
GFL Environmental Inc. is on the market to raise $1.0 BN in equity.
Gibson Energy is reported to have laid of a “substantial number of staff” in the late October-early November timeframe.
• The company announced its 2018 capital expenditure budget will be $120.0 MM.
• It reported it plans to divest its non-core business.
Government of Canada provided $22.0 MM for seven Alberta clean energy innovation projects.
• It established a 14-member Generation Energy Council to provide advice on reliable, affordable, low-carbon economy in the future. Merran Smith (founder/executive director of Clean Energy Canada and a fellow at Simon Fraser University) and Linda Coady (chief sustainability officer at Enbridge) are co-chairs.
Harvest Operations announced it will finish construction on its halted Black Gold SAGD projects with an on-stream target of Q3, 2018.
Hemisphere Energy Corporation secured $20.0 MM (US) in debt financing.
• The company will focus on its Atlee Buffalo oil assets and capitalize on its recent addition of a centralized oi facility to separate and reinject produced water in to the Upper Mannville G pool
Horizon North Logistics Inc. closed its $14.0 MM acquisition of the 288-bed Moose Haven Lodge at Janvier as a cash/shares transaction.
Husky Energy announced its 2018 capital expenditure budget will be $2.9 billion.
• It completed its acquisition of the Superior Refinery, a 50,000 bbl/d refinery in Superior, Wisconsin.
• The company has restarted its SeaRose offshore platform operations following suspension over safety issues.
• Its operational focus for 2018 will be to ramp up its Tucker thermal project, phase 1 of the Sunrise project, and its development in Indonesia.
Ikkuma Resources Corp. closed $20.0 MM infrastructure disposition asset sale portfolio in Alberta foothills and BC deep basin area.
• The company closed its $34.0 MM acquisition of an undisclosed portfolio of Alberta and BC assets.
• It completed its $29.7 MM acquisition of BC deep basin assets.
Imaginea Energy Corp. recently reorganized and its CEO, Suzanne West will continue in that role. Major shareholder Lime Rock Partners will operate as Cor4Oil Corp. and takes all the company’s former oil assets.
InPlay Oil Corp. announced its 2018 capital expenditure budget will be $38.0 MM.
Inter Pipeline Ltd. announced it will build its $3.5 BN polypropylene facility at Fort Saskatchewan.
• The company announced its 2018 capital expenditure budget will be $820.0 MM.
• It plans to spend $670.0 MM on NGL processing, $110.0 MM on oil sands transportation, $20.0 MM on transporting convention oil, plus $20.0 MM for bulk liquid storage.
• It announced its January cash dividend of $0.14/share.
Journey Energy Inc. announced its 2018 capital expenditure budget will be $40.0 MM.
• It has gone to the markets to raise $22.0 MM in debt and warrants issue.
Keyera Corp. announced plans to spend $120.0 MM on its North Wapiti Pipeline system, expected to be completed and in-service Q3-4, 2019.
• The company announced it plans to expand its Simonette gas plant at a capital cost of $510.0 MM.
• It has gone to the markets to raise $429.4 MM in equity.
• The company closed $494.0 MM in equity financing.
Kinder Morgan’s Trans Mountain pipeline expansion project was supported by Jim Carr, natural resources minister when he wrote to the National Energy Board giving instructions from the federal government regarding enforcement of its approval of the project. Despite this, the City of Burnaby’s obstructive actions remain unchanged.
• The company is on the market to raise $200.0 MM in preferred share issue.
• It closed $250.0 MM preferred share financing.
• Started operations at its 4.8 million bbl Base Line Terminal in Sherwood Park. It’s a 50-50 joint venture with Keyera.
• It closed its $5.5 BN credit facilities.
• It is once again being held hostage to the B.C. government’s desire to stall/delay/kill the TransMountain project. PM Trudeau has said, “The pipeline will go ahead,” but failed to put a deadline on B.C.
Kuwait Petrochemical Industries Co. signed a contract with Jacobs Engineering to do engineering and design work for its joint venture with Pembina Pipelines on its $3.8 BN propylene and polypropylene facility at Fort Saskatchewan. It will process 22,000 bbl/d of propane as its feedstock.
Marksmen Energy Inc. is on the market to raise $450,000.0 in equity by private placement.
• The company closed $573,950.0 common share and warrants financing by private placement.
MATRRIX Energy Technologies Inc. closed $2.3 MM trance of unsecured convertible sub debt financing by private placement then closed its $6.1 MM acquisition of Vortex Drilling through a court-appointed receivership of Vortex.
• A week later it closed the final tranche of its $2,612,000 unsecured convertible sub debt financing by private placement.
• Next, the company reported it will acquire Stampede Drilling Ltd. for $9.0 MM in an all shares and assumption of debt transaction.
• It announced it was going back to the public market to raise $20.0 MM in equity financing.
• In January 2018, it announced it had completed its acquisition of Stampede Drilling Ltd.
• The company completed its $20,001,200.0 equity financing by private placement.
• It closed its acquisition of D2 Drilling in an all shares transaction.
MaXfield Group Inc. was acquired by TerraVest Capital Inc. for $21.0 MM.
MEG Energy Corp. announced its 2018 capital expenditure budget will be $510.0 MM.
Noia concerned the Canadian Environmental Assessment Agency (CEAA) is creating unnecessary delays and uncertainty in approving offshore oil and gas projects.
Noralta Technologies acquired all the assets and accounts of Wellsite Automation and Control.
NOVA Chemicals is investing $2.0 BN to build a new polyethylene plant in Ontario and the Ontario government agreed to contribute $100.0 MM towards the capital costs.
Obsidian Energy Ltd. announced its 2018 capital expenditure budget will be $135.0 MM.
• It achieved a 2017 exit rate of 31,700 boe/d and expects its 2018 growth will be increased.
• There is a rumoured power struggle between FrontFour Capital (owns 27 MM shares) and Ed Kernaghan (controls 33 MM shares), who recently joined the board.
• It reported it will sell a portfolio of non-core legacy assets in exchange for assumption of abandonment and reclamation facilities.
OSUM Oil Sands Corp. announced it plans to proceed with Phase 2C of its Orion thermal project near Cold Lake which is expected to double production to 18,000 bbl/d and more.
Painted Pony Energy Ltd. reported it had secured a $450.0 MM credit facility.
• The company announced its 2018 capital expenditure budget will be $185.0 MM.
• It completed its amalgamation with UGR Blair Creek Ltd. and Painted Rock Resources.
Pembina Pipeline Corporation will develop a $290.0 MM pipeline project to service Duvernay and Kaybob assets for Chevron Canada Limited. It also announced it had closed its $150.0 MM sale of the company’s remaining Swan Hills asset portfolio.
• It announced its 2018 capital expenditure budget is $1.3 billion.
• It will go forward to build its $260.0 MM export terminal in Kitimat, BC.
• It has gone to the markets to raise $300.0 MM in preferred share equity.
• The company closed $400.0 MM preferred share issue.
Pengrowth Energy Corporation announced its 2018 capital expenditure budget will be $65.0 MM. It signed an agreement to sell its Quirk Creek sour gas plant and gathering system for $6.5 MM.
Perpetual Energy Inc. secured a $65.0 MM credit facility.
Petrolia Energy Corporation acquired Bow Energy Ltd. and all its assets.
Petroleum Services of Canada Association predicts that 7,900 wells will be drilling in 2018, up from the approximately 7,550 drilling in 2017.
Petrus Resources Ltd. announced its 2018 capital expenditure budget will be $25.0 MM
Point Loma Resources Ltd. closed $3.45 MM flow-through shares financing.
Prairie Provident Resources Inc. announced its 2018 capital expenditure budget will be $26.0 MM.
Precision Drilling Corporation announced it was nearing peak activity with 89 active rigs in Canada and another 64 active in the U.S.
• Its 2017 capital expenditure budget is $104.0 MM and it expects to be slightly below that with the remainder applied to its 2018 budget.
Raging River Exploration Inc. announced its 2018 capital expenditure budget will be $335.0 MM.
Razor Energy Corp. closed $4.6 MM acquisition of a portfolio of Kaybob assets.
• It completed its $4.9 MM acquisition of Kaybob assets mid-January.
• It announced its 2018 capital expenditure budget will be $38.4 MM.
Renaissance Oil Corp. closed $3.15 MM common share & warrants issue.
• The company closed $1.0 MM equity financing by private placement.
Repsol SA laid off an undisclosed number of staff from its Calgary office as part of its 2017-18 global consolidation plan.
• The company’s Energy Partnership put nine, wholly-owned coal licences on the market.
Return Energy Inc. is on the market to raise $5.0 MM in equity by private placement.
• The company closed $899,000.0 flow-through share financing by private placement.
• It closed $5.0 MM equity financing by private placement.
RMP Energy Inc. changed its name to Iron Bridge Resources Inc.
Royal Dutch Shell’s U.S. affiliate (60% WI) announced a major discovery in the Gulf of Mexico with 426.72 net metres (1,400 feet) of pay. Chevron U.S. holds a 40% stake.
Saturn Oil & Gas Inc. has gone to the markets to raise $500,000.0 in equity by private placement.
• The company closed $520,000.0 equity financing.
• It closed $1.5 MM in convertible debt financing.
• It announced it had successful drilling and brought on-line its first two Viking horizontals in Flaxcombe.
Saudi Arabia’s king and heir to the throne are shaking things up by turning the Riyad Ritz Carlton into a detention facility for many officials, family, princes, and others they have accused of corruption. Of note is Prince Alwaleed bin Talal, principal of Kingdom Holdings (owning Citibank, Four Seasons Hotels, the world’s largest buildings, etc.).
Seven Generations Energy Ltd. announced its 2018 capital expenditure budget will be $1.75 BN.
SNC Lavalin bought Data Transfer Solutions Inc. for $45.0 MM (US).
• The company has gone to the markets to raise $300.0 MM in unsecured debt by private placement.
Source Energy Services Ltd. opened its Fox Creek unit train terminal in early January 2018.
• The company announced its 2018 capital expenditure budget is $50.0 MM.
Spartan Energy Corp. announced its 2018 capital expenditure budget will be $183.0 MM. Its drilling program will focus on its open-hole Mississippian wells in SE Saskatchewan which offer a high rate of return and minimal risk.
Sterling Resources Ltd. and PetroTal Ltd. closed $34.0 MM (US) equity financing by private placement.
• The merger was completed and the new company will operate as Sterling Resources Ltd.
• It announced its 2018 capital expenditure budget will be $30.6 MM (US) with much of it expected to be spent bringing the Bretana oilfield online in Block 95, northeast Peru.
Suncor Energy applied for regulatory approval for its Meadow Creek West 40,000 bb/d SAGD project, 10 km south of Fort McMurray. Construction is slated for 2022.
• The company is on the market to raise $750.0 MM (US) in debt.
• It announced its 2018 capital expenditure budget will be $4.5 BN.
• First oil was produced at Hebron, offshore Newfoundland and Labrador.
• The company started the regulatory process to upgrade its base plant cogeneration facility which will add 700 megawatts of capacity. The expansion is scheduled for completion in 2022.
• It and its partner Teck Resources resolved funding dispute with Total SA for the $17.0 BN Fort Hills oil sands mine. The agreed upon percentages are: Suncor 53.06%, Teck 20.89%, and Total 26.05%.
• It reported its Fort Hills oil sands project is now in continuous operations and, when at full capacity, will produced about 194,000 bbl/d.
• The company announced it will use autonomous vehicles at its mines, starting in 2019. It plans to use a fleet of 150 trucks. This will eliminate 400 jobs.
Surge Energy Inc. spent $37.2 MM to acquire a portfolio of Sparky area assets then it went to the market to raise $40.0 MM in convertible debt.
• The company closed its $44.5 MM convertible debt financing deal.
Tamarack Valley Energy Ltd. announced its 2018 capital expenditure budget will be $195.0 MM.
Tangle Creek Energy Ltd. closed $78.1 MM acquisition of Waskahigan and Kaybob assets from RMP Energy Inc. and increased its production to 8,000 boe/d (55% light oil).
Tervita Corporation announced it had acquired 3K Oil Services Ltd., an oilfield services provider to heavy oil markets in the west central region of Saskatchewan.
Tesco Corporation’s shareholders approved it merger and acquisition of Nabors Industries Ltd.
Tidewater Midstream and Infrastructure Ltd. and TransAlta Corporation signed a joint venture agreement to build 120 kms of natural gas pipeline from the Brazeau River complex to Sundance and Keephills power plants at a projected capital cost of $150.0 MM.
• The company is on the market to raise $125.0 MM in senior unsecured debt.
• It closed $34.0 MM Montney area asset acquisition.
TORC Oil & Gas Ltd. announced its 2018 capital expenditure budget will be $165.0 MM.
Toscana Energy Income Corporation agreed to sell a portfolio of undeveloped non-core northern Alberta assets for $1.6 MM.
TransCanada Corporation’s Keystone XL pipeline got its much-anticipated Nebraska decision that ruled in its favour. Nebraska wants the line routing changed and the company has asked the regulator to reconsider.
• The company re-started its Keystone 590,000 bbl/d pipeline at reduced rates, following its 5,000 bbl spill in South Dakota.
• Its Leach Xpress project came into service January 1, 2018 at a cost of $1.6 BN (US) and is 257 km of 36-inch pipe, three compressor stations, and is designed to ship 1.5 bcf/d of natural gas.
• The company received FERC approval for the Mountaineer Xpress and Gulf Xpress pipelines to be built.
• It announced it had secured sufficient commitment of 500,000 bbl/d for shipping to go ahead on the Keystone XL line – supported by the 50,000 bbl/d for 20 years from the Government of Alberta.
TransGlobe Energy Corporation announced its 2018 capital expenditure budget will be $41.3 MM.
Traverse Energy Ltd. closed its $4.9 MM tranche of equity financing by private placement.
Trinidad Drilling Ltd. announced it plans to lay-off 15% of its staff and slash executive compensation. This should reduce its G&A by $43.0 MM.
Valeura Energy Inc. announced it had temporarily suspended testing operations at the Yamalik-1 well, in Turkey. It is proceeding with engineering and design work to enable the well to be tied into the area gathering/sales network.
Vermillion Energy Inc. will buy a portfolio of SE Saskatchewan/SW Manitoba assets for $90.8 MM.
Vertex Resources Group Ltd. purchased Sonic Oilfield Services Ltd. for $4.5 MM.
Vital Energy Inc. closed $100,000.0 secured convertible debt financing by private placement.
Western Energy Services Corp. closed $11.375 MM equity financing by private placement and secured $70.0 MM revolving credit facility.
• The company announced its 2018 capital expenditure budget will be $20.0 MM.
Whitecap Resources Inc. is on the market to raise $332.5 MM in equity financing.
• The company closed $425.0 MM equity financing.
• It closed its $940.0 MM acquisition of SE Saskatchewan assets.
• The company confirms monthly dividend for January of $0.0257/share.
Yangarra Resources Ltd. secured a $120.0 MM credit facility.
• It announced its 2018 capital expenditure budget will be $90.0 MM.
Zargon Oil & Gas Ltd. announced its Q1-2, 2018 capital expenditure budget will be $3.7 MM.
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