Oslo, 10 July 2023 – DNO ASA, the Norwegian oil and gas operator, today announced a significant gas and condensate discovery on the Carmen prospect in the Norwegian North Sea license PL1148 in which the Company holds a 30 percent interest. Preliminary evaluation of comprehensive data, including cores and fluid samples, acquired from the discovery well and a follow-on extended sidetrack indicates gross recoverable resources in the range of 120-230 million barrels of oil equivalent (MMboe) on a [Read more]
Headlines
Vermilion Energy Inc. announces TSX approval for renewal of normal course issuer bid
CALGARY, AB, July 10, 2023 /PRNewswire/ - Vermilion Energy Inc. ("Vermilion", "We", "Our", or the "Company") (TSX: VET) (NYSE: VET) is pleased to announce that the Toronto Stock Exchange ("TSX") has approved the notice of Vermilion's intention to commence a normal course issuer bid ("NCIB") through the facilities of the Toronto Stock Exchange ("TSX"), New York Stock Exchange and other alternative trading platforms in Canada and USA. The NCIB allows Vermilion to purchase up to 16,308,587 [Read more]
International Petroleum Corporation announces results of normal course issuer bid
International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC repurchased a total of 64,565 IPC common shares (ISIN: CA46016U1084) during the period of July 3 to 7, 2023 under IPC’s normal course issuer bid / share repurchase program (NCIB). IPC’s NCIB, announced on December 1, 2022, is being implemented in accordance with the Market Abuse Regulation (EU) No 596/2014 (MAR) and Commission Delegated Regulation (EU) No 2016/1052 (Safe [Read more]
Oil falls 1% on China, US data, but OPEC+ cuts limit fall
Oil prices dipped on Monday after weak economic data from top consumers the United States and China, although expected crude supply cuts from Saudi Arabia and Russia limited losses. Brent crude futures fell 73 cents, or 0.9%, to $77.74 a barrel by 1005 GMT, and U.S. West Texas Intermediate crude was also off 72 cents, or 1%, at $73.14 a barrel, "Oil traders may be cautious ahead of the U.S. CPI and China's slew of economic data later this week," CMC Markets analyst Tina Teng said, of [Read more]
Week in Review – Stock gainers/fallers and most read articles
Welcome to the BOE Report’s Week in Review! Did you miss something this week? We’ve got you covered. Check out any BOE Intel articles that you missed, and catch up on our most read articles from the week. We have also included the top gainers and fallers in the energy markets this week among our BOE Intel coverage list. TOP 5 GAINERS/FALLERS THIS WEEK Top 5 Gainers Company Ticker 7 Day Return Rubellite Energy RBY.TO 12.50% Petrus [Read more]
U.S. looks to buy another 6 million barrels for emergency oil stockpile this year
The U.S. Department of Energy on Friday said it was looking to purchase another 6 million barrels of crude oil for the Strategic Petroleum Reserve as it continues to refill the stockpile following last year's record drawdown. The DOE has announced deals to buy 6.3 million barrels of crude for the reserve in recent months, and the new solicitation would bring the total to over 12 million barrels this year. "This purchase is in continuation of the Biden-Harris Administration’s replenishment [Read more]
Canadian Rig Count Summary – 180 active rigs at the week’s end
Canada's active rig count grew week-over-week once again, settling at 180 on July 7 after reaching a 3-month peak of 190 active rigs on July 5. Today's count exceeds the June 30 count of 167 rigs by 7.8% and continues an upward trend that we've observed over the past month. Alberta led the way with 9 additional active rigs compared to the week prior, and Saskatchewan followed closely behind with 5 additional rigs. BC's 21 active rigs on July 7 matches the June 30 count. There were 108 [Read more]
US natgas prices edge up 1% on hot weather forecasts ahead of storage report
U.S. natural gas futures edged up about 1% on Friday on forecasts that hotter-than-normal weather will remain through late July, especially in Texas, and rising feedgas to the nation's liquefied natural gas (LNG) export plants. That small price increase came even though U.S. drillers were pulling record amounts of gas out of the ground and ahead of a federal report expected to show last week's storage build was near normal for this time of year. The Electric Reliability Council of Texas [Read more]
Avila Energy refiles its financial statements and MD&A
CALGARY, AB / ACCESSWIRE / July 7, 2023 / Avila Energy Corporation ("Avila" or the "Company" or "Avila Energy"), trading symbol "CSE:VIK", announces its refiling of its audited financial statements for the year-ended December 31, 2022 and its unaudited financial statements for the three months ended March 31, 2023 as well as their corresponding management's discussion & analysis (the "MD&A"). The refiling intends to amend disclosure regarding the credit risk fee that was used to [Read more]
Shell second quarter 2023 update note
The following is an update to the second quarter 2023 outlook and gives an overview of our current expectations for the second quarter. Outlooks presented may vary from the actual second quarter 2023 results and are subject to finalisation of those results, which are scheduled to be published on July 27, 2023. Unless otherwise indicated, all outlook statements exclude identified items. Integrated Gas $ billions Q1’23 Q2’23 Outlook Comment Adjusted EBITDA: Production [Read more]