Alberta Securities Commission says Poseidon executive’s actions were fraudulent

CALGARY – The Alberta Securities Commission says a former officer of failed oilfield services firm Poseidon Concepts engaged in a deliberate “campaign of disinformation” in reporting U.S. contracts that led to the company overstating its revenue and accounts receivable. The regulator says it has found Joseph Kostelecky, Calgary-based Poseidon’s former …read more

Source:: OSY Rentals

Suncor Energy to work with Alberta Energy Regulator regarding tailings and related Millennium Operational Amendment applications

CALGARY, ALBERTA–(Marketwired – March 17, 2017) – Suncor today confirms it has received notice from the Alberta Energy Regulator that it has denied the Suncor Base Plant Tailings Management Framework application and related Millennium Operational Amendment application. The tailings application, which was submitted in April 2016, is a regulated requirement …read more

Source:: OSY Rentals

Petrocapita Announces Aggregate Proceeds of $832,191.36 Preferred Trust Units and Tied Class ‘A’ Shares (Tied Offering)

CALGARY, ALBERTA–(Marketwired – March 17, 2017) – Petrocapita Income Trust (CSE:PCE.UN)(CSE:PCE.UN.CN) (“Petrocapita” or the “Trust“) announces the initial Close in the sum of $832,000.00 of its 9% Preferred Trust Units and $191.36 tied Class ‘A’ Shares pursuant to the February 08, 2017 announcement of the $20 million Preferred Unit Offering. …read more

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Canada Weekly Rig Count Down 39 to 276

Western Canada’s fleet of drilling rigs are still busy but not as busy as the week prior with 276 actively drilling according to data collected by Baker Hughes for the week of March 17th. Drilling activity is starting to slow down, but still very active in comparison to last year’s …read more

Source:: OSY Rentals