PrairieSky Royalty has grown its seismic database to include 19,900 km2 of 3D Seismic and over 54,000 km of 2D Seismic, with coverage across Western Canada from Northeast BC to Southwest Manitoba. Since 2021, PrairieSky has acquired over 6,000 km2 of 3D and 8,000 km of 2D Seismic, including coverage focused in the Provost and Wainwright areas of East Central Alberta. Seismic can be made available for viewing in PrairieSky’s data room, to prospect for opportunities across its 9.7 million acres [Read more]
Headlines
CanAsia Announces December 31, 2022 Contingent Bitumen Resources For Sawn Lake, Alberta SAGD Project Of Andora Energy Corporation
CALGARY, AB, Feb. 27, 2023 /CNW/ - CanAsia Energy Corp. (TSXV: CEC), on behalf of its 88.2% owned subsidiary Andora Energy Corporation ("Andora"), is pleased to release the December 31, 2022 Contingent Bitumen Resources Report ("Resources Report") which is a National Instrument 51-101 compliant resources evaluation for Andora's oil sands interests at Sawn Lake Alberta, Canada, as evaluated by independent qualified reserves evaluator Sproule Associates Limited ("Sproule"). The evaluation [Read more]
Journey Energy Inc. achieves record 2022 year-end reserve levels and increased year over year PDP value per share by 138%
CALGARY, AB - Journey Energy Inc. (TSX: JOY) ("Journey" or the "Company") is pleased to report its year-end 2022 oil and gas reserves evaluation. These results highlight another excellent year of value creation and prudent capital allocation. 2022 Reserve Report Highlights: Proved developed producing ("PDP") reserves increased 66% to 39.8 MMboe, with a corresponding increase of 169% in NPV@10% to $485 million from $180.1 million in 2021. The PDP reserve life index increased to 8.3 [Read more]
Resource sector provides highest paying jobs for Indigenous workers in Canada
CALGARY, AB - Data from Census 2021 show that the extractive resource sectors, and the oil and gas sector specifically, provide the highest paying average wages for Indigenous workers in Canada. Indigenous people in Canada make almost three times more working in the oil and gas extraction sector than the average Indigenous worker ($140,400 vs $51,120 average employment income) and almost twice as much working in mining ($93,600). Forestry also paid higher than average [Read more]
i3 Energy PLC Announces Q4 2022 Operational and Financial Update
Q4 2022 Operational and Financial Update EASTLEIGH, UK / ACCESSWIRE / February 27, 2023 / i3 Energy plc (AIM:I3E)(TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, is pleased to announce the following Q4 2022 operational and financial update. Highlights: Average Q4 2022 production of approximately 22,757 barrels of oil equivalent per day ("boepd"), an 11% increase from the previous quarter, with current production of approximately 23,440 [Read more]
Oil lower on firm dollar, market shrugs off Russian supply cuts
Oil prices inched lower in volatile trade on Monday, as a stronger dollar and fears of recession risks offset gains arising from Russia's plans to deepen oil supply cuts. West Texas Intermediate U.S. crude futures (WTI) traded at $76.09 a barrel, 23 cents, or 0.3% lower, while Brent crude futures were down 30 cents, or 0.36%, at $82.86 a barrel at 0411 GMT. Both benchmarks closed more than 90 cents higher on Friday. The dollar hovered near a seven-week peak on Monday after a slew of [Read more]
Hammerhead Energy files final Canadian non-offering prospectus and confirms expected trading on the NASDAQ and TSX
CALGARY, AB - Hammerhead Energy Inc. ("Hammerhead Energy" or the "Corporation") today announced that in connection with the previously announced business combination among the Corporation, Hammerhead Resources Inc. and Decarbonization Plus Acquisition Corporation IV, which was completed on February 23, 2023, the Corporation has filed and received a receipt from the Alberta Securities Commission for its final Canadian non-offering prospectus. The Corporation is now a reporting issuer under [Read more]
Canada’s weekly rig count at 248
Canada averaged 248 active drilling rigs this week according to data from the Canadian Association of Energy Contractors. Of those rigs, 32% are drilling for natural gas, 52% are drilling for oil, 6% for other (helium, hydrogen, geothermal, lithium, or potash), and 10% are moving. Drilling activity by province is 76% in Alberta, 15% in Saskatchewan, 8% in BC, and 1% in Manitoba. Precision Drilling holds the majority of the Canadian market share with 30%, Ensign Drilling with 20%, Savanna [Read more]
Gear Energy Ltd. Announces January Monthly Update to Shareholders
Calgary, Alberta--(Newsfile Corp. - February 24, 2023) - Gear Energy Ltd. (TSX: GXE) (OTCQX: GENGF) ("Gear" or the "Company") is pleased to announce that the new January 2023 monthly update to shareholders can be accessed via the following link https://gearenergy.com/updates. FOR FURTHER INFORMATION PLEASE CONTACT: Ingram Gillmore President & CEO 403-538-8463 David Hwang Vice President Finance & CFO 403-538-8437 Email: info@gearenergy.com Website: [Read more]
Ukraine war shook up markets, but much stays the same for Canadian oil and gas
CALGARY - When Russian tanks and troops rolled into Ukraine one year ago, it was no shock that crude prices spiked above US$100 per barrel for the first time since 2014. With Russia controlling 10 per cent of the world's crude oil supply, many observers in the early days of the conflict predicted the war and Western sanctions against Russia could disrupt energy markets for years to come. So it is surprising, 12 months later, that oil prices on the one-year anniversary of Russia's invasion [Read more]