Oct 7, 2008
Massive unconventional petroleum resources are making Canada a heavyweight challenger in the energy world
Canada has always punched above its weight in the global oil and gas arena. Last year it ranked as the seventh largest oil producer in the world and the third largest gas producer despite having only two per cent of proved global conventional oil reserves and less than one per cent of proved global conventional gas reserves. (more…)
Oct 7, 2008
Keyera Facilities Income Fund sits ready for foothills gas growth, oilsands boom
Being in the right place at the right time can make all the difference in succeeding in the Canadian petroleum industry. As the early 21st Century unfolds Keyera Facilities Income Fund finds itself positioned perfectly for growing with the industry as it develops new resources and pushes into new frontiers. (more…)
Oct 7, 2008
The cheap, easy to access conventional petroleum resources remaining in the quickly maturing Western Canadian Sedimentary Basin are mostly taken. That leaves enterprising oil and gas explorers with limited options.
They can leverage their technical expertise targeting the complex reservoirs trapping the remaining conventional petroleum. They can go after the massive unconventional gas resource, or chase the hundreds of billions of barrels of oil sands too deep to mine. Or they can look overseas for exploration opportunities. Petrobank Energy is successfully pursuing all of these options. (more…)
Oct 7, 2008
With billions of barrels in bitumen resources, solid partnerships in place to develop those resources, and a strong balance sheet to cover costs, UTS Energy has proven with a bit of ingenuity a small company can make it big in Alberta’s oilsands.
Formed in 1977, UTS took flight in 2004 when it raised $125 million and took complete ownership of the Fort Hills oilsands leases. “We quickly determined we needed a partner,” says president and CEO Will Roach, who joined UTS in 2004. UTS brought in Petro-Canada (60%) and Teck Cominco (20%). “We secured $1.4 billion to cover our costs through the deals, so from that $125 million we got over 10 times the purchase price.” (more…)
Oct 7, 2008
Two years ago, when WesternZagros Resources, then the wholly-owned subsidiary of Western Oil Sands, announced it was going into Iraq to hunt for oil reserves, eyebrows raised in Calgary’s tight-knit petroleum community.
But for WesternZagros Resources president Simon Hatfield the move made total sense. Hatfield says the management at Western Oil Sands, including company founders, John Frangos and Guy Turcotte, recognized that Iraq fit into Western’s philosophy of targeting areas with huge resource potential. (more…)
