The discount on Western Canada Select (WCS) heavy crude versus the North American benchmark West Texas Intermediate (WTI) widened slightly on Thursday: * WCS for May delivery in Hardisty, Alberta, traded at $11.90 a barrel below WTI, according to brokerage CalRock, after closing at $11.75 a barrel below the benchmark on Wednesday. * Canadian heavy crude remains close to its narrowest levels this year after the Trans Mountain pipeline expansion project (TMX) began commercial operations on [Read more]
Headlines
Canadian Natural Resources considering major expansion of Horizon oil sands mine
Canada's largest oil and gas producer Canadian Natural Resources (CNQ.TO) is looking at opportunities to significantly increase bitumen output at its main oil sands mine, the company said on Thursday. President Scott Stauth said the company is considering a 195,000 barrel-per-day (bpd) expansion at its Horizon mining and upgrading plant in northern Alberta through new extraction and treatment processes. Previously the company said it could add 75,000 bpd of bitumen, but Stauth said Canadian [Read more]
Obsidian Energy announces voting results from the 2024 Annual and Special Meeting of Shareholders
Corporate presentation and management webcast available for replay on website Calgary, Alberta--(Newsfile Corp. - May 2, 2024) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to announce that at our annual and special meeting of shareholders held on May 2, 2024, Obsidian Energy's shareholders approved all resolutions outlined in the Notice of 2024 Annual and Special Meeting and Management Proxy Circular dated March 15, [Read more]
Vermilion Energy Inc. reports voting results of Annual General Meeting
CALGARY, AB, May 2, 2024 /PRNewswire/ - Vermilion Energy Inc. ("Vermilion") (TSX: VET) (NYSE: VET) is pleased to announce the voting results from our annual meeting of shareholders held on May 1, 2024. A total of 68,572,045 common shares representing 42.64% of Vermilion's issued and outstanding common shares were voted in connection with the meeting. The vote on each matter was conducted by ballot. The manner in which the proxies were voted or ballots cast, as applicable, in respect of each [Read more]
US oil executive censure puts spotlight on shale-OPEC meetings
A U.S. regulator's censure of a top U.S. oil executive over private meetings with the Organization of the Petroleum Exporting Countries (OPEC) group of oil producers has put a spotlight on dinners attended by dozens of shale executives. The U.S. Federal Trade Commission (FTC) on Thursday barred former Pioneer Natural Resources CEO Scott Sheffield from joining the board of Exxon Mobil, which is acquiring Pioneer for $60 billion in stock. The FTC accused the 72-year-old executive of leading [Read more]
Parkland says lots of buyer interest in its fuel, convenience store locations
CALGARY - Fuel retailer Parkland Corp. says the 157 Canadian fuel and convenience store locations it has put up for sale are generating a great deal of interest from prospective buyers. The Calgary-based company is aiming to divest the stores as part of its efforts to optimize its network. The locations for sale include ones operated under the Chevron, Ultramar, Pioneer and FasGas brands as well as the On the Run convenience store banner. Most are in Quebec and Ontario, with the balance [Read more]
Equinor seeks to revive costly Norway, Canada oil prospects
Equinor has signed a long-term deal with engineering companies to help drive down the cost of developing two offshore oil discoveries that were previously postponed, the Norwegian energy group said on Thursday. The agreement with the Subsea Integration Alliance, an oilfield services group comprising Subsea7 and OneSubsea, could help revive plans to develop Norway's Wisting field and Canada's Bay du Nord, potentially unlocking around one billion barrels of oil. "Selecting the supplier at [Read more]
US natgas prices jump 5% on higher demand forecast, lower output
U.S. natural gas futures jumped about 5% on Thursday on a continued drop in output and forecasts for more demand next week than previously expected due to an increase in the amount of gas flowing to liquefied natural gas (LNG) export plants. The price rise came even though last week's storage build was slightly bigger than analysts expected. The U.S. Energy Information Administration (EIA) said utilities added 59 billion cubic feet (bcf) of gas into storage during the week ended April [Read more]
Aeneid Exploration Inc. – Property Divestiture
Aeneid Exploration Inc. (“Aeneid” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with the sale of all of its oil and natural gas interests. Aeneid’s main producing properties are located in the Carmangay and Mitsue areas of Alberta as well as non-producing properties located in the Alderson, Gift and Sugden areas of Alberta (the “Properties”). Average daily sales production net to Aeneid from the Properties for the year ended December 31, 2023 was approximately [Read more]
Valhalla Field Roundup – BOE Intel
Positioned in one of the Alberta Montney's premier producing regions, the Valhalla field is among the most dynamic in the Canadian oil patch. With exposure to both the Charlie Lake tight oil play and a gas-weighted zone of the Montney producing formation, Valhalla has been the site of regular and productive drilling by some of Canada's blue chip producers. We believe that Valhalla will continue to occupy a central position in the industry for years to come. In order to give our readers a better [Read more]
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