Ticker: BBI – Oil & Gas 360

Blackbird Energy’s Montney Growth Continues to Ramp

November 2, 2017

Debt-free Blackbird Energy chalks up production record, scores new long-term gas processing agreements, secures ownership option for processing capacity in the Montney In an operational update put out by the company Wednesday, Blackbird Energy (ticker: BBI) highlighted several announcements including a new company record for production and a new gas processing agreement in Alberta’s Montney play. For the period of

Blackbird Energy Plans 3 More Montney Wells

July 3, 2017

Blackbird Energy announced that it plans to drill and complete approximately three operated wells through the end of the calendar year Calgary-based Blackbird Energy (ticker: BBI) announced the company’s results for the quarter ended April 30, 2017 – Q3 for the company. In the company’s release, Blackbird announced that it exited the quarter with $71.8 million of working capital on

Blackbird Energy Provides Operational Update in the Montney

May 19, 2017

Blackbird Energy plans to drill 11 operated wells in fiscal 2017 and 2018 Calgary-based Blackbird Energy (ticker: BBI) announced updates to both its operated and non-operated drilling programs Thursday. In the release, Blackbird said that the company plans to drill and complete an additional eight operated development wells on its western acreage and three operated delineation wells on its eastern

Blackbird Energy Announces 2P Reserves of $455 Million

March 27, 2017

Blackbird Energy announces 913% increase in 1P reserves Blackbird Energy (ticker: BBI) released a reserves report Monday which announced the company’s proved reserves (1P) increased 913% to 30,526 MBOE (46% NGLs), according to the company’s press release. The net present value of the company’s 1P reserves discounted 10% (NPV10) was $204 million based on an independent reserves evaluation, a 1,356%

UPDATE: Blackbird Energy Receives Capital for 12 Well Program

March 17, 2017

Update: Blackbird acquires additional acreage in the Montney Blackbird Energy Inc. announced that it has entered into a binding agreement with Knowledge Energy Inc. for the acquisition of two gross sections (two net) of Montney rights for total consideration of 1,923,077 Blackbird common shares. These lands are contiguous with Blackbird’s existing lands and will, upon closing, increase Blackbird’s Montney rights

UPDATE: Blackbird Energy Receives Capital for 12 Well Program

March 16, 2017

Montney Player Blackbird Energy Grows Enterprise Value 8x in 2016

February 15, 2017

Using the downcycle to your advantage The last two years have been a difficult period for the oil and gas industry. The drop in oil prices following OPEC’s November 2014 decision to defend market share over oil prices left the industry in a world of hurt as the value of a barrel of oil tumbled from over $100 to less

Blackbird Expects Initial Montney Production on Jan. 30

January 27, 2017

Blackbird Energy announces commissioning of its Elmworth / Pipesone facility Calgary-based Blackbird Energy (ticker: BBI) announced Thursday that its 100% owned and operated Elmworth / Pipestone facility gathering system is currently being commissioned. The company expects that it will achieve initial Montney production on Monday, January 30, 2017, BBI said in a press release. Blackbird Chairman, CEO and President Garth

Blackbird Energy Announces Quarterly Results

December 19, 2016

Blackbird Energy (ticker: BBI) announced its financial results for the three months ended October 31, 2016. Blackbird’s assets include Elmworth Montney property located near Grande Prairie, Alberta, as well as non-core assets in Saskatchewan and Alberta. Elmworth consisted of 88.75 gross sections (56,800 gross acres) or 87.25 net sections (55,840 net acres) of highly prospective Montney lands as at October

Blackbird Energy Sets Montney Completion Record without Coil Tubing

November 29, 2016

Stage Completions’ Bowhead II Technology Allows Blackbird to Achieve Montney Record in 1 Hour Stages Blackbird Energy’s (ticker: BBI) 102/2-20-70-7W6 Upper Montney well has set a new record for the play. Using Stage Completions’ Bowhead II fracturing system, Blackbird was able to complete a 3,757 ton, 76 stage completion program at rates as high as 10 cubic meters per minute

Blackbird Energy Spuds Well

November 23, 2016

Blackbird spuds 3-28 Montney well at Elmworth Blackbird Energy (ticker: BBI) announced that it has spud the 3-28 Upper Montney well. The well is located in the play’s “volatile oil” window, which is defined as having more than 250 barrels of condensate per MMcf of natural gas. The well has a lateral length of approximately 2,150 meters, and will be

The Market is Taking Note of The Montney Players

November 18, 2016

The stacked pay in the Montney is delivering higher EURs than the Permian at a fraction of the land cost Oil and gas operators have been increasingly sending capital in the Permian Basin as they look for the strongest returns amid continued weakness in crude oil prices. Billions of dollars have poured into the basin, which currently holds 41% of

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