As many oil and gas juniors struggle amid a poor pricing environment, Edge Resources is using the lull as an opportunity to increase reserves and to raise its profile in Europe.
Articles Tagged "alberta"
Solara Exploration Ltd. (TSXV:SAA.A) announced an update to work on the Leduc D3 and Cardium Wells in Alberta.
Manitok Energy Inc. (CVE: MEI) is an oil and gas exploration and development company focused on conventional reservoirs in the Canadian foothills and heavy oil in east central Alberta. The company has assembled a portfolio of properties, with varied play-types, in Alberta, Canada. All of these projects are at the drill-ready stage, with recent drilling operations completed on the Swimming property last fall and another drill underway on their Stolberg lands. In mid 2010, Manitok merged with Desco Resources Inc. and raised almost $10 million in order to go public. At the end of December 2010, Manitok completed an $18.1 million equity financing of both common and flow through shares. Manitok is expecting a capital program of about $21 million in 2011.
According to an article on Wednesday in The Globe and Mail, the utilization of hydraulic fracturing technology in some of Canada’s previous gas and oil fields has the energy industry poised to produce as many as 15 billion barrels it never expected to extract.
Suncor Energy Inc, Canada's largest energy company, has just announced that it has agreed to a transaction with Direct Energy to sell natural gas assets for about $358.5 million. The deal comes as part of Suncor’s strategic business alignment and ongoing plans to divest of a number of non-core assets totaling $2.8 billion.
Hemisphere Energy Corp., a Vancouver-based oil and gas junior, declared that it has closed the acquisition of a natural gas producing Sylvan Lake property in central Alberta. For full story, click here
The government of Alberta, sideswiped by the slumped and depressed natural gas prices, is stepping up its efforts to resuscitate drilling and compete against massive supplies of shale gas from British Columbia and the United States. For full story, click here
Alberta will offer new incentives for struggling natural gas producers, but Premier Ed Stelmach provided no details about the scheme. For full story, click here
Even more than royalties or sagging commodity prices, the Alberta government needs to be worried about dwindling natural gas production to fill its gaping fiscal hole, a record $4.7-billion budget deficit. Don Herring, president of the Canadian Association of Oilwell Drilling Contractors, stated: Natural gas production is falling and it’s taking their revenue stream with [...]
A supply glut dragged natural gas prices to a six-year low which has lead to predictions of more layoffs and capital spending cuts in the Alberta oilpatch with little relief expected until next fall. Calgary analyst John Tasdemir of Tristone Capital stated: I think you could see a $2 handle on it. For full story, [...]