CALGARY, Alberta - Prairie Provident Resources Inc. ("Prairie Provident", "PPR" or the "Company") announces our operating and financial results for the first quarter ended March 31, 2023. PPR’s interim financial statements and related Management’s Discussion and Analysis (MD&A) are available on our website at www.ppr.ca and filed on SEDAR at www.sedar.com. MESSAGE TO SHAREHOLDERS Patrick McDonald, Interim President and CEO commented: “The operations team has done an excellent job of [Read more]
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Kiwetinohk provides wildfire safety and operations update
CALGARY, AB, May 15, 2023 /CNW/ - Kiwetinohk today announced it is currently ramping up production from its Placid field as the 3rd party infrastructure suspended due to proximity to wildfire is now operational. At this time, approximately two-thirds of Kiwetinohk's Placid production has been restored. At Kiwetinohk's Simonette operations, a fire to the south of the 10-29 plant started on the weekend and is currently under control. A fire at the northern part of Kiwetinohk's land base continues [Read more]
Baytex receives shareholder approval for acquisition of Ranger and reports shareholder meeting results
Calgary, Alberta--(Newsfile Corp. - May 15, 2023) - Baytex Energy Corp. (TSX: BTE) (NYSE: BTE) ("Baytex") is pleased to announce that shareholders of Baytex ("Baytex Shareholders") today approved the previously announced merger (the "Merger") with Ranger Oil Corporation ("Ranger"). Baytex also reports that all additional matters presented for approval at the annual and special meeting of shareholders held today were approved. A total of 204,407,281 common shares being 37.47% of Baytex's issued [Read more]
AltaGas Ltd. closes aggregate $400 million medium term note offering
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]
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]