Questerre plans third farm-in well at Kakwa North acreageQuesterre Energy Corp. is testing a second well at its Kakwa North acreage
in western Alberta and planning a third farm-in well in early 2019. Within a year, the
company expects to
ramp up its drilling to its
adjacent Kakwa acreage.
In advance of its 2019 drilling program at Kakwa, the company recently completed
most of its planned infrastructure expansion, doubling the capacity of the central
processing and water storage facilities. In a Q3 update, the company said it was pleased
with the...
Dec 04, 2018
Fairly ordinary capital raising joined by royalty-based dealOSUM Oil Sands raised $92 million
through the sale of royalties (PG. 15), a sign
that the desirability of raising capital from
traditional sources may be waning. The
funds will be used to expand the company’s
Orion project. In addition to recent
royalty-based funding,
the last few weeks saw a few new issues.
Enbridge issued an additional $700 million
in debt (PG. 1). Crown Point Energy
completed a $4.1 million follow-on equity
offering (PG. 4). Renaissance Oil issued
17.4 million...
Oct 27, 2017
Questerre raises $31 million in private placementToronto- and Oslo-listed Questerre Energy Corp. raised NOK 198.9 million ($31
million) through a private placement of 34.9 million shares at NOK 5.70 ($0.89) each.
The Financial Supervisory Authority of Norway approved the company’s plans to issue
the shares on the Oslo Stock Exchange, where it trades under the symbol “QEC,” in early
October. Norwegian securities firms Arctic Securities, Pareto Securities
and SpareBank 1 brokered
the private placement.
The company will use net...
Oct 27, 2017
Questerre completes private placement to raise $31MMQuesterre Energy Corp. sold up to 34.9 million shares at a price equivalent to
$0.89 each in an oversubscribed private placement handled by Norwegian brokers
Arctic Securities, Pareto Securities and Sparebank 1 Markets. The company raised
gross proceeds of about NOK 198.9 million, ($31 million). Questerre
expects to have 384.8 million outstanding common shares once the
private placement shares settle.
CEO Michael Binnion said the
placement will allow the company to
strengthen its balance sheet...
Oct 06, 2017
M&A is slow and low againThough the number of deals in the upstream Canadian oil and gas sector increased from nine to 13 over the last month, the total disclosed deal value plummeted from US$501.7 million to US$220 million, according to the PLS Global M&A Database. The absence of megadeals, joined with oil prices that fell to five-month lows in early May, has in a sense reset the calendar of the sector back to the first two months of 2017. Two huge deals in March—Canadian Natural Resources Ltd.’s $13 billion...
May 16, 2017
Questerre Energy boosts Red Leaf ownership to 25%Questerre Energy Corp. will own 25.8% of Utah-based Red Leaf Resources after acquiring an additional 19.76% stake in the company for $5.9 million in a two-tranche agreement announced May 11. As part of the second tranche, Questerre will acquire Red Leaf’s shares of, and the assets held by Calgary-based privately-held Whitehorn Resources, including 282 sq km prospective for oil shale in Jordan in the Wadi Abu Al Hamam area northwest of Questerre’s existing acreage. The first tranche for 82,015...
May 16, 2017
People & Companies - April 27, 2017¦ TSX-listed CGX Energy announced the resignation of Dan Gillet from its board in conjunction with Blackhill Partners ending its mandate at CGX’s parent Pacific Exploration & Production Corp. Gillet was employed by Blackhill as part of Pacific’s recent restructuring and was appointed to CGX’s board during that process. The company holds three licenses in the Guyana Suriname Basin. ¦ Delphi Energy appointed Mark Behrman as CFO, who recently served as CFO of Sea NG Corp. of Calgary, a...
Apr 26, 2017
Licensing - June 4, 2015• Atlantic Petroleum will give up its 7.5% stake in PL 602 offshore Norway despite having participated in a gas discovery there in April. At the time the Statoil-led JV found a 38-m pay column in the Nise formation, but Atlantic says development economics are too marginal and the project has too long a lead time to make it viable for the company. The other partners are Wintershall, Petoro and Centrica. • 6Colombia granted Interoil E&P a 104-day extension to the exploration phase for...
Jun 04, 2015
CS - A&D Briefs - April 16, 2019Abu Dhabi’s sovereign wealth fund
Mubadala Investment Co. is considering
selling a stake in Calgary-based Nova
Chemicals Corp., Bloomberg reported.
One option is to sell a stake to the Canadian
pension fund or another company within
the industry. The fund has not made any
decision, and Mubadala may still decide to
keep its ownership of Nova. Nova became
one of Mubadala’s top investments after
the emirate bought the company in 2009. Questerre Energy engaged
Industrial Alliance Securities...
Apr 16, 2019
CS - Exploration & Production Briefs - January 02, 2018In response to declining in oil prices, Gear Energy has slowed its oil sales through a combination of temporary shut-ins, capital reductions and increases to storage. The company said it expects to exit 2018 with 40,000 bbl of heavy oil and 10,000 bbl of light oil in storage, which it will sell in early 2019 at higher prices than those seen in Q4. Most of its wells that were temporarily shut-in will resume production in early 2019. Questerre Energy Corp. expects to see “some operational...
Jan 02, 2019
CS - E&P Briefs - September 06, 2018Kicking Horse Oil & Gas Ltd. has
started completion operations on the
103/16-29 well at Kakwa North. The well
includes a 2,700 m horizontal leg in the
Montney. It also spudded the 01-04 well,
which will include a 2,900 m lateral in the
Montney, according to Questerre Energy,
which holds a royalty interest in both wells. Pulse Oil Corp. has completed
Phase One of its Bigoray EOR modelling
project. The model incorporates
all petrophysical log data,
petrological core and drill
cuttings...
Sep 06, 2018
People Briefs - May 10, 2017Armin Jahangiri was promoted to the position of VP, Operations at ARC Resources, making him responsible for overseeing the facilities, drilling and completions, health and safety, and environmental and regulatory teams. Prior to joining ARC in 2014 as a manager of operations, Jahangiri held positions with a major Canadian producer and a global oilfield services company.Bayshore Petroleum director Bill McKnight has resigned to focus on personal interests. He was elected as director in...
May 10, 2017
People Briefs - May 02, 2017TSX-listed CGX Energy announced the resignation of Dan Gillet from its board in conjunction with Blackhill Partners ending its mandate at CGX’s parent Pacific Exploration & Production Corp. Gillet was employed by Blackhill as part of Pacific’s recent restructuring and was appointed to CGX’s board during that process. The company holds three licenses in the Guyana Suriname Basin.Delphi Energy Corp. has proposed three new candidates to its board for election at its annual meeting on...
May 02, 2017
People & Companies Briefs - March 18, 2016Alvopetro Energy said COO E. John Koch is no longer with the company. No information was provided about a potential replacement.Athabasca Oil Corp. has appointed Bryan Begley to its board as an independent director. Begley is a managing director of 1901 Partners, a private equity firm formed in 2014 to invest in the energy sector. In conjunction with Begley’s appointment current chair Tom Buchanan and Gary Dundas have retired from the board. Lead director Ron Eckhardt has been appointed...
Mar 18, 2016
People Briefs - May 22, 2015• Canadian Natural Resources said that Dr. Eldon Smith, due to reaching the mandatory retirement age, and Keith A.J. MacPhail, due to a desire to free up more time for personal interests, have chosen to not stand for re-election to the company’s board. • CanElson Drilling said Elson McDougald, Randy Hawkings, Kent Jespersen, Daniel Kolibar, Rodger Hawkins, Dale Johnson, Scott Bratt and Diane Brickner were elected as directors at the company’s May 14 annual meeting. • Cardinal...
May 22, 2015