Today marks the 50th anniversary of revolutionary Great Canadian Oil Sands Limited, the precursor to Suncor Energy

Editor’s note: The following is the transcript of a speech given by author Peter McKenzie-Brown discussing his latest book: ‘Bitumen: The people, performance and passions behind Alberta’s oil sands.‘ Great Canadian Oil Sands Limited was the precursor to what is now Canada’s largest energy company: Suncor Energy. Today marks the 50th anniversary of GCOS opening for [Read More…]

Source: Headlines – BOE Report

Seven Generations announces expiration of tender offer for its 8.250% senior unsecured notes due 2020

CALGARY, ALBERTA–(Marketwired – Sept. 29, 2017) – Seven Generations Energy Ltd.’s (TSX:VII) tender offer was accepted by holders representing US$224,340,000 aggregate principal amount of 7G’s 8.250% senior unsecured notes due 2020 (the “Notes”). The previously announced cash tender offer to purchase any and all of the outstanding principal amount of the Notes expired at 5:00 [Read More…]

Source: Headlines – BOE Report

Shale Support partners with Tidewater Logistics for Increased Access to Marcellus, Utica (Friday, 29 September 2017)

Shale Support Holdings, LLC, provider of frac-sands and logistical solutions to the oil and gas proppant market, today announced its partnership with Tidewater Logistics. The agreement increases Shale Support’s access into the Ohio, West Virginia and Western Pennsylvania markets, providing storage while allowing it to be one of the lowest cost providers of frac sand to the region.

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Shell’s Appalachian Basin Cracker Facility Will Bring Thousands of Jobs, Manufacturing to Region

Attendees at this week’s Shale Insight conference had the opportunity to receive updates on a project that has been years in the making in the Appalachian Basin – the planned Shell Appalachia ethane cracker facility in Beaver County, Pa. EID first reported on Shell’s decision to locate the facility in Pennsylvania back in 2012, and the planning process will finally ...

ExxonMobil Dethroned As Top Energy Company

Gazprom dethroned ExxonMobil as the top energy company in the world, according to the 2017 S&P Global Platts Top 250 Global Energy Company Rankings. The rankings measure the financial performance of energy firms on four key metrics: asset worth, revenues, profits, and return on invested capital. The list only includes companies that have assets greater than $5.5 billion. For ...

Source: Oilprice.com

The Next Big Offshore Boom Is About To Happen Here

Say what you will about offshore oil and gas exploration, but it’s still alive and kicking—high production costs and all. The latest demonstration of the viability of deepwater projects, even in the post-2014 oil industry era, comes from none other than Brazil. On Wednesday, the country’s National Petroleum Agency put 287 oil and gas blocks up for auction, and only ...

Source: Oilprice.com

Eagle Energy Inc. Announces North Texas Drilling Update, Cost Reductions and Amendment to Loan Agreement

CALGARY, Alberta, Sept. 29, 2017 (GLOBE NEWSWIRE) — (TSX:EGL): Eagle Energy Inc. (“Eagle”) is pleased to update its shareholders regarding operations and ongoing cost reduction initiatives, as well as to announce a proactive amendment to its loan agreement.  Eagle has worked with its lender to relax one of its four financial covenant thresholds in recognition [Read More…]

Source: BOE Report

Saudis Lead Gulf Movement To Diversify Away From Oil

With the Saudi Aramco initial public offering set to debut on international markets in 2018, the oil world is watching closely as the OPEC leader transforms its economy under Crown Prince Mohammad bin Salman’s Vision 2030 plan. But the KSA isn’t the only Gulf nation gearing up for a radical change in its energy formula. The United Arab Emirates is ...

Source: Oilprice.com

Sustainability Or Growth? E&Ps Face A Difficult Decision

Only 16 E&Ps are expected to grow production and keep spending within cash flow U.S. unconventional E&Ps often find themselves in a difficult position in the current environment. The environment has long been “grow or die,” with high emphasis placed on companies growing production. Firms that have little growth prospects generally trade at significantly lower multiples. On the other ...

Source: Oilprice.com