Industry News

Company News
Tervita to go public in merger with Newalta; major oilfield environmental service firm created
Two prominent environmental service firms supporting Canada's oil and gas industry have announced their agreement to merge.Publicly traded Newalta Corporation and privately held Tervita will join together to be publicly
Tapping the lithium rush, Canadian miner stakes claims in Utah
A small Canadian mining company has staked claim to mineral rights on over a hundred thousand acres of federal land in Utah since last year, hoping to tap lithium deposits from spent oil wells to feed America’s high-tech
Chesapeake Energy Completes 417 Wells in 2017
Chesapeake Energy Corporation (ticker: CHK) produced approximately 593,200 BOEPD in Q4 2017. Chesapeake's average daily production for the 2017 full year was approximately 547,800 BOE, compared to approximately 635,400
Apache Aims To Boost Produced Water Reuse in Permian
Produced water reuse can be a valuable strategy for operators because lowering their water footprint helps promote sustainability. With oil production rising in the Permian, companies are producing more water.......
Korean firm reactivates Alberta oilsands project, plans to triple workforce
A subsidiary of Korea National Oil Corp. is tripling its staff count and adding experienced executives as it reactivates its BlackGold oilsands project in northern Alberta. Harvest Operations Corp. says it has hired....
Blackbird Energy’s Middle Montney Well Produces High Level of Condensates
Blackbird Energy 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.....
Chesapeake Energy Bids Adieu To Miss Lime
Chesapeake Energy (CHK) announced last week its exit from the Mississippian Lime, the play that the company helped to pioneer several years ago. We interpret the $0.5 billion price received for the properties as a
Anadarko Petroleum says it will up investment in Colorado’s Denver-Julesburg Basin in 2018
Anadarko Petroleum, the state’s largest oil and gas producer, plans to spend $950 million next year developing oil and gas wells in the Denver-Julesburg Basin, an increase over the $840 million it budgeted this year...
Canadian Natural proposes bitumen-only expansion at its Horizon oilsands mine
Canadian Natural Resources Canadian Natural Resources Ltd. is considering adding a 30,000- to 40,000-barrel-per-day bitumen-only project to its Horizon oilsands mine to take advantage of excess ore production......
China Energy to invest US$83 billion in West Virginia shale gas and chemical manufacturing projects
The West Virginia Department of Commerce has announced China Energy Investment Corporation Limited’s plan to invest US$83.7 billion in shale gas development and chemical manufacturing projects in West Virginia.....
Conoco sets annual spending at $5.5 billion through 2020
ConocoPhillips will spend $5.5 billion annually in the oil patch through the end of the decade if U.S. crude prices stay above $50 a barrel, it said Wednesday. The Houston oil producer's three-year operating plan called
Parsley Energy Adds 1.2 Million Lateral Feet to Drilling Inventory Without Spending a Dime
200 net locations added, 300 locations extended Parsley Energy (ticker: PE) announced third quarter results today, showing a net loss of $13.3 million, or ($0.05) per share. After excluding special charges, Parsley....
Canadian Natural sees ‘significant value’ breathing new life into deferred Shell oilsands mine
Plans for a new oilsands mine that were deferred two years ago may soon be back on the table. That’s because the asset’s new owner sees an opportunity to integrate those plans with its existing operations. When CNRL....
Oilpatch spending to ramp up in Canada's 'hottest new play,' led by Chevron
Chevron Corp. is ramping up spending in the Duvernay shale basin, Canada’s “hottest new play,” after spending three years exploring its potential. “The Duvernay is one of the most prospective liquids-rich shale plays in
MGX Minerals Engineering Partner PurLucid Awarded C$8.2M Contract
MGX is pleased to report that engineering partner PurLucid Treatment Solutions has been awarded a non-repayable contribution totaling up to C$8.2 million in government funding to support the commercialization of a low...
Koch expansion nears completion
A $1.3 billion expansion at the Koch Fertilizer plant is nearing completion. The expansion include a new 900,000 ton-per-year urea plant. Enid Regional Development Alliance Executive Director Brent Kisling said, “Which .
Lundin’s International Petroleum takes big bite with $500-million Cenovus deal
Cenovus Energy Inc. is selling a southeastern Alberta oil and gas property to a company controlled by the wealthy Swedish-Canadian Lundin family, which is better known for investments in energy and mining projects in
Chevron to invest $4 billion to boost Permian Basin output
Oil major Chevron Corp will next year invest around $4 billion to ramp up its crude production in the Permian Basin area of the United States, a company executive said on Monday. Ryan Krogmeier, Chevron’s vice president
CNOOC says Long Lake oilsands project on the way to positive cash flow
With high operating costs related to its partially full upgrader, the integrated Long Lake SAGD project has been consistently challenged to earn a profit – its owner says that may soon change. The upgrader at Long Lake
Eagle Ford: Post Oak Invests $100 Million in Sierra Resources
Post Oak Energy Capital announced its investment into Sierra Eagle Ford, a subsidiary of private Sierra Resources. Post Oak will commit $100 million in equity to Sierra, which will support the company’s Eagle Ford .....