Calgary, AB - (TSX:PMT) – Perpetual Energy Inc. ("Perpetual" or the "Company") announced today that the maturity date applicable to the Company's credit facility has been extended to April 30, 2021 and the $20 million borrowing limit maintained. The borrowing limit is scheduled to be redetermined and the revolving credit period extended on or before April 30, 2021. The extension of the revolving credit period provides additional time to finalize negotiations with its lenders and for the Company [Read more]
Headlines
Heavy crude edges tighter on first day of new monthly trade cycle
Canadian heavy crude's discount to West Texas Intermediate (WTI) narrowed slightly on Monday: Western Canada Select (WCS) heavy blend crude for April delivery in Hardisty, Alberta, last traded at $11.05 per barrel below WTI, according to NE2 Canada Inc, tightening very slightly from the previous session's settle of $11.10 a barrel below WTI. Monday was the first day of the monthly trade cycle, which runs from the first of each month until the day before pipeline nominations are [Read more]
Oil executives say demand will rise, despite emphasis on renewables
Oil demand is expected to rise over the next decade and the fossil fuel will remain to be a crucial part of the energy mix, even as renewables draw increasing attention, Hess Corp Chief Executive John Hess said at CERAWeek on Monday. At the biggest gathering of top energy leaders, investors and politicians from around the globe, climate change and renewable fuels are taking center stage this year with oil companies trying to reorient their portfolios as the fossil fuel industry reels from the [Read more]
ARC Resources and Seven Generations to hold special shareholder meetings on proposed business combination
CALGARY, AB - (TSX: ARX) (TSX: VII) ARC Resources Ltd. ("ARC") and Seven Generations Energy Ltd. ("Seven Generations") announced today that they have filed a joint management information circular (the "Circular") dated March 1, 2021 and related meeting and proxy materials in connection with the proposed business combination (the "Business Combination") to create the premier Montney producer and leader in responsible energy development. The meeting materials will be mailed to ARC and Seven [Read more]
Oil rises on vaccine optimism, U.S. stimulus
Oil prices rose on Monday, supported by optimism about COVID-19 vaccinations, a U.S. stimulus package and growing factory activity in Europe despite coronavirus restrictions. U.S. West Texas Intermediate (WTI) crude jumped 15 cents, or 0.24%, to $61.68 a barrel. Brent crude was up 44 cents, or 0.68%, at $64.84 a barrel. Both contracts finished February 18% higher. “The three major supportive factors are the prevalent vaccine rollouts, the optimism about economic growth, and the view that the [Read more]
Access to objective data is the key to ESG reporting success
GDM Pipelines delivers new data and analytics for insight into ESG performance The past five years have brought unparalleled changes to the Canadian oil and gas industry. A global pandemic, downward pressure on oil prices, emission reductions in response to new climate change initiatives, and increasing scrutiny from investors are just a few of the issues that are top of mind. These changes have also brought about an increased focus on ESG (environmental, social, and governance) initiatives [Read more]
Tamarack Valley Energy Ltd. announces fourth quarter and year end 2020 financial results and reserves highlights
CALGARY, AB - Tamarack Valley Energy Ltd. ("Tamarack" or the "Company") is pleased to announce its financial and operating results for the three months and year ended December 31, 2020 and the results of its independent oil and gas reserves evaluation as of December 31, 2020, prepared by GLJ Ltd. ("GLJ") (the "GLJ Report"). Selected financial, operational and reserves information is outlined below and should be read with Tamarack's audited consolidated financial statements ("Financial [Read more]
Ten new properties on PNGX
There are 10 new properties are available on PNG Exchange: Aldon Oils Ltd. Properties: Weir Hill/Steelman – Midale/Frobisher Bryant – Midale/Frobisher Bemersyde – Bakken/Red River Midale – Midale Frobisher Weyburn – Midale Anegada Oil Corp. Properties: Valhalla – Montney Peace River Arch/ Worsley Canlin Energy Corporation Property: Saskatchewan Fee Title Auction April 30th Crew Energy Inc. Properties: Golden Lake SK – Heavy Oil Wildmere AB – Heavy Oil About PNG Exchange PNG [Read more]
Pembina Pipeline Corporation files 2020 year-end disclosure documents
CALGARY, AB - Pembina Pipeline Corporation ("Pembina" or "the Company") (TSX: PPL) (NYSE: PBA) has filed its audited consolidated financial statements for the year ended December 31, 2020 as well as the related management's discussion and analysis, with Canadian securities regulatory authorities. Pembina has also filed its Form 40-F for the year ended December 31, 2020 with the U.S. Securities and Exchange Commission. Investors and other stakeholders can obtain these documents via www.sedar.com, [Read more]
Canada’s weekly rig count drops 8 to 177
Canada averaged 177 active drilling rigs this week according to data from the Canadian Association of Oilwell Drilling Contractors. Of those rigs, 103 are drilling for oil, 70 are drilling for natural gas, 2 for other (helium, hydrogen, geothermal, or potash), and 2 are moving. Drilling activity by province is 116 in Alberta, 36 in Saskatchewan, 8 in British Columbia, 2 in Manitoba, and 15 in other. Precision Drilling holds the majority of the Canadian market share with 30 per cent, Ensign [Read more]
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