EDMONTON - A public inquiry into who is funding environmental opposition to Alberta's oil and gas industry has been granted an extension until the end of January. Alberta's United Conservative government contends foreign interests have long been bankrolling campaigns against fossil fuel development and in 2019 tapped forensic accountant Steve Allan to lead a $2.5-million inquiry. Allan's report was initially due in July, but he was granted an extension until Oct. 30 and a $1-million budget [Read more]
Headlines
Ovintiv reports strong third quarter 2020 financial and operating results
Results strengthen outlook for 2021 Scenario Consistent framework provided for future capital allocation and debt reduction Highlights: Posted $47 million of non-GAAP free cash flow and reduced net debt by $217 million during the third quarter, reaffirmed pledge that all excess cash flows will go toward debt reduction Reported third quarter cash from operating activities of $493 million and non-GAAP cash flow of $398 million Exceeded guidance with third quarter crude and [Read more]
Suncor Energy reports third quarter 2020 results
Unless otherwise noted, all financial figures are unaudited, presented in Canadian dollars (Cdn$), and have been prepared in accordance with International Financial Reporting Standards, specifically International Accounting Standard 34 Interim Financial Reporting as issued by the International Accounting Standards Board. Production volumes are presented on a working-interest basis, before royalties, except for production volumes from the company’s Libyan operations, which are presented on an [Read more]
Imperial starts operation of cogeneration unit at Strathcona refinery
STRATHCONA COUNTY, Alberta - Imperial (TSE: IMO, NYSE American: IMO) has started operation of its newly constructed cogeneration unit at its Strathcona refinery near Edmonton, Alberta, increasing energy efficiency at the facility and helping reduce provincial greenhouse gas emissions. “The completion of this project is an important milestone for Imperial,” said Brad Corson, Imperial chairman, president and chief executive officer. “It highlights our commitment to investing in projects that [Read more]
Husky pipeline spills 5,600 barrels of produced water in Northwestern Alberta
RAINBOW LAKE, Alta. - Husky Energy says 5,600 barrels of produced water spilled from one of its pipelines in Northwestern Alberta. Produced water is a byproduct of oil and gas extraction and sometimes contains residual petroleum and chemicals. The Calgary company says the leak was discovered on Monday in the Rainbow Lake area and some of the water spilled into nearby muskeg. Spokeswoman Dawn Delaney says the spill is contained and the company is continuing to clean it up with pumps and [Read more]
U.S. natgas futures slip from 21-month high as drop in crude prices weigh
U.S. natural gas futures slipped on Wednesday from a 21-month high earlier in the week as a 5% drop in crude futures weighed on all energy markets. That price dip came despite forecasts for colder weather and higher heating demand over the next two weeks, rising liquefied natural gas (LNG) exports, and a drop in output as producers shut wells ahead of Hurricane Zeta, which is expected to smash into eastern Louisiana later Wednesday. On their last day as the front-month, gas futures for [Read more]
Strategic alternatives process: Turm Oil & Gas Ltd
Turm Oil & Gas Ltd. (“Turm” or the “Company”) has engaged Sayer Energy Advisors to assist the Company with a strategic alternatives process. Turm is open to reviewing all alternatives, with potential outcomes to this process including, but not limited to, a sale of some or all of the assets, a recapitalization of the Company or a sale or merger of the Company. Turm is a privately-held oil and natural gas company incorporated in Saskatchewan in 2019 with a small number of shareholders, no [Read more]
Column: Hey Canada and USA: Where will the world’s oil come from if we sleepwalk into energy insecurity?
In the heart of Thanksgiving/Christmas season, we are often confronted and reminded of a curiosity of human existence that has far wider repercussions than we realize. During big get-togethers (within health guidelines of course, speaking more historically here), many of us have been faced with the Phenomenon of the Perpetual Ass. It seems that in any sizeable group there is at least one person who will see it as their duty to putridly debase conversation, to offer ignorant and inflammatory [Read more]
Hemisphere Energy Provides Corporate and Operational Update
Vancouver, British Columbia - Hemisphere Energy Corporation (TSXV: HME) is pleased to provide an update on its corporate and operational activities. Despite the numerous challenges impacting the world throughout 2020, Hemisphere is optimistic that the year ahead will bring better times. With future constraints on oil supply due to lack of capital investment worldwide, combined with an eventual return of oil demand due to the implementation of vaccines and the return of air travel, Hemisphere [Read more]
Athabasca Minerals Inc. announces non-brokered private placement and board appointment
Calgary, Alberta - Athabasca Minerals Inc. (“AMI” or the “Corporation”) – TSXV: AMI – is pleased to announce a non-brokered private placement (the “Private Placement”) of $1,480,000 based on the issuance of 9,866,668 common shares (the “Common Shares”) at a premium price of $0.15 per Common Share. HIGHLIGHTS The Private Placement, priced at $0.15/share, represents a 30% premium to the market’s last closing price of AMI, with no finders-fee payable. The Private Placement is anchored by [Read more]
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