CALGARY, AB - AltaGas Ltd. ("AltaGas") (TSX: ALA) today announced that it has completed its issue of $400 million of senior unsecured medium term notes (the "Offering") with a coupon rate of 4.638 percent, maturing on May 15, 2026. The net proceeds resulting from the Offering will be used to pay down existing indebtedness under AltaGas' credit facility and to refinance the senior unsecured medium-term note maturing in June 2023. The Offering continues to stagger, extend and de-risk [Read more]
Headlines
Western Canada heavy oil differential narrows on wildfire concerns
Western Canada Select (WCS) heavy crude's discount to the benchmark West Texas Intermediate (WTI) narrowed on Monday. WCS for June delivery in Hardisty, Alberta, traded $12.40 to $12.80 a barrel under the benchmark, according to brokerage CalRock. On Friday, the Canadian heavy benchmark had ended $12.80 a barrel below WTI. Benchmark Canadian heavy crude prices have tightened to multi-month highs on concerns about wildfires in Alberta that forced some producers to shutter [Read more]
US to buy 3 mln barrels to refill emergency oil reserve
The U.S. Department of Energy said on Monday it will purchase 3 million barrels of crude oil for the Strategic Petroleum Reserve for delivery in August, and asked that offers be submitted by May 31. U.S. Energy Secretary Jennifer Granholm had signaled to lawmakers late last week that her department could start repurchasing oil for the stockpile soon, after a record sale last year during a spike in prices that pushed the level of the reserve to the lowest since 1983. The new purchase would [Read more]
US natgas gains nearly 5% to 2-week high on lower gas output view
U.S. natural gas futures climbed nearly 5% to their highest in two weeks on Monday on concerns over a decline in future production after data last week showed energy companies had cut down on the number of rigs for drilling gas. Front-month gas futures for June delivery on the New York Mercantile Exchange rose 10.9 cents, or 4.8%, to settle at $2.375 per million British thermal units (mmBtu), their highest since May 1. Energy services firm Baker Hughes Co on Friday said the gas rig count, [Read more]
U.S. shale production set to rise to highest on record in June -EIA
U.S. oil output from the seven biggest shale basins is due to rise in June to the highest on record, data from the Energy Information Administration showed on Monday. Oil output is set to rise by 41,000 barrels per day (bpd) to 9.33 million bpd, the EIA said. Crude output in the Permian Basin in Texas and New Mexico, the biggest U.S. shale oil basin, is expected to rise by 15,000 bpd to a record high 5.71 million bpd. In the Bakken region of North Dakota and Montana, output is due to [Read more]
Baytex provides update on the impact of the Alberta wildfires
Calgary, Alberta - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) ("Baytex") is providing an update on the impact of the Alberta wildfires to its operations. Baytex advises that the ongoing wildfires are impacting its operations in the Peace River and Peavine regions of northwest Alberta. Baytex has safely evacuated its affected personnel. As a result of the precautionary shut-in of production and operated infrastructure, approximately 20,000 boe/d of production has been shut-in since the morning [Read more]
Tenth Avenue Petroleum announces appointment of new CFO & stock option grant
CALGARY, AB / ACCESSWIRE / May 15, 2023 / Tenth Avenue Petroleum Corp. ("TPC" or the "Company") (TSXV:TPC) is pleased to announce the appointment of Sonja Kuehnle as Chief Financial Officer ("CFO"), effective May 9, 2023. Mrs. Kuehnle is a Chartered Professional Accountant and Chartered Accountant, with over 15 years' experience in the energy, forestry, and accounting sectors. As well as working in the Calgary offices of the international accounting firm KPMG LLP, she served in several [Read more]
Pipestone Energy Corp. provides update to wildfire production impact
CALGARY, Alberta, May 15, 2023 (GLOBE NEWSWIRE) -- (PIPE – TSX) Pipestone Energy Corp. (“Pipestone” or the “Company”) advises that its operations in the Grande Prairie area are again being impacted by the ongoing wildfires. As a result of the precautionary shut-in of certain third-party infrastructure and associated operated producing locations, approximately 20,000 boe/d of production has been temporarily curtailed since the evening of May 12, 2023. From May 8th to May 12th, Pipestone had [Read more]
Vermilion Energy Inc. provides update on the production impact from Alberta wildfires
CALGARY, AB, May 15, 2023 /PRNewswire/ - Vermilion Energy Inc. ("Vermilion", "We", "Our", or the "Company") (TSX: VET) (NYSE: VET) is pleased to report that it has restored approximately 60% of the 30,000 boe/d of production that was temporarily shut-in as a result of the wildfires in West Central Alberta. We have inspected all of our key assets and confirm that there was no major damage to our facilities or well sites, and we will bring the remaining curtailed production back online as soon as [Read more]
International Petroleum Corporation announces results of normal course issuer bid
TORONTO, May 15, 2023 (GLOBE NEWSWIRE) -- International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce that IPC repurchased a total of 135,300 IPC common shares (ISIN: CA46016U1084) during the period of May 8 to 12, 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 [Read more]