Alberta ///

Alberta's McCuaig-Boyd sees glass half-full in oil-sands deals

The $20 billion of oil-sands assets that Canadian producers bought from foreign companies in a recent spate of deals shows they’re doubling down on their operations and the region’s resources, Alberta Energy Minister Marg McCuaig-Boyd said.

Return Energy acquires Rycroft area gas production in Alberta

Return Energy Inc. has acquired, through its wholly-owned subsidiary, Winslow Resources Inc., certain partner interests in its core area of Rycroft, north of Grande Prairie, Alberta, for cash consideration of $750,000 (subject to final adjustments).

PSAC announces government funding for beleaguered oil and gas services

The Petroleum Services Association of Canada (PSAC) was pleased to hear the federal government will provide a one-time payment of $30 million to the Government of Alberta to “support provincial actions that will stimulate economic activity and employment in Alberta’s resource sector.”

Global Tubing opens new service center near Montney shale basin

Global Tubing, LLC, the industry leader in coiled tubing products and services, announces the opening of a new service center in Grand Prairie, Alberta, Canada.

Shell divests shale acreage in Western Canada for $1 billion

Royal Dutch Shell, through its affiliate Shell Canada Energy, has agreed to sell approximately 206,000 net acres of non-core oil and gas properties in Western Canada to Tourmaline Oil Corp. for a total consideration of approximately $1,037 million.

Bellatrix to sell non-core assets for C$47 million

Bellatrix Exploration has entered into an agreement with InPlay Oil Corp. to sell certain non-core Cardium focused assets in the greater Pembina area of Alberta for a total consideration of C$47 million ($35.6 million).

Three new oil sands developments receive initial approval following Regulator review

Three new proposed oil sands developments have cleared an important early step in the regulatory process.

Bonavista Energy in strategic asset exchange

Bonavista Energy has entered into an agreement to acquire certain liquids rich, natural gas weighted properties within its Deep Basin and West Central Alberta core regions in exchange for properties within its non-core region in northeastern British Columbia.

Canada’s E&P industry faces uphill struggle

Robert Curran, Contributing Editor

Rocked by the worst oil-price collapse in recent memory, Canadian operators are struggling to adapt to the new normal. The industry faces continued market access challenges, with much-needed pipelines bogged down by opposition.

Seven Generations buys Alberta shale assets in C$1.9 billion Paramount deal

Seven Generations Energy Ltd. agreed to buy assets in Alberta’s Montney shale play from Paramount Resources Ltd. as it presses ahead with an expansion during the industry’s worst downturn in decades.

Penn West concerned Alberta rule change will hinder asset sales

Penn West Petroleum Ltd. is concerned that a new rule on energy acquisitions in Alberta will affect its ability to find buyers for assets it plans to offload in the Canadian province.

Encana to sell Gordondale assets for C$625 million

Encana Corporation has reached an agreement to sell its Gordondale assets in northwestern Alberta to Birchcliff Energy for a total cash consideration of C$625 million ($490 million).

Alberta plans reentry to oil-sands town ravaged by wildfires

Canadians who fled the wildfire devastation in the oil-sands community of Fort McMurray can tentatively expect to return in a couple of weeks, while the blaze still rages elsewhere in the region and major production sites remain shut.

Alberta wildfires spread north, forcing evacuations from camps

Wildfires raging across northern Alberta shifted back toward oil-sands installations north of Fort McMurray, forcing the evacuation of thousands of workers who have been trying to get production restarted after fires curbed output by more than 1 MMbpd.

Murphy Oil Corp. closes Kaybob Duvernay and Placid Montney JV

Murphy Oil Corporation has announced that its Canadian subsidiary, Murphy Oil Company Ltd. (MOCL), closed the joint venture (JV) with affiliates of Athabasca Oil Corporation (Athabasca) that was previously announced on January 27, 2016.

Penn West closes sale of Slave Point, non-core assets

Penn West Petroleum has closed the sale of its properties in the Slave Point area of Northern Alberta for a cash consideration of approximately C$148 million, subject to closing adjustments.

Enerplus sells assets in northwest Alberta

Enerplus Corporation has entered into a definitive agreement to sell certain non-core assets located in northwest Alberta, including its Pouce Coupe asset.

Suncor completes Canadian Oil Sands acquisition

Suncor's acquisition of Canadian Oil Sands (COS) has been completed following shareholder approval of an amalgamation agreement at a special meeting of COS shareholders.

Penn West to sell Slave Point acreage in Alberta for C$148 million

Penn West Petroleum has entered into a definitive agreement for the sale of its properties in the Slave Point area of Northern Alberta for a cash consideration of C$148 million.

PSAC requests federal assistance for Alberta’s oil & gas service sector

The Petroleum Services Association of Canada (PSAC) recently presented a proposal to the federal government that will put oil and gas services companies back to work while benefitting the environment.