CALGARY, Sept. 10, 2019 /CNW/ - OBSIDIAN ENERGY LTD. (TSX – OBE, NYSE – OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") announces that the Board of Directors (the "Board") has determined that it is in the best interest of the Company and its stakeholders to initiate a formal process to explore strategic alternatives. This process is intended to evaluate the Company's strategic options and alternatives to maximize shareholder value. Such strategic alternatives may include, but are [Read more]
Headlines
Oil hits six-week high on hopes of extended OPEC output cuts
Oil futures hit a six-week high on Tuesday, rising for a fifth day on optimism that OPEC and other countries may agree to extend production cuts in a bid to support prices. West texas intermediate was 27 cents, or 0.5%, higher at $58.12 a barrel, while brent was up 26 cents, or 0.4%, at $62.85 a barrel by 0349 GMT. Brent touched its highest since Aug. 1, while WTI crude rose to the highest since July 31. U.S. oil gained more than 2% on Monday, while Brent finished the day 1.7% higher as [Read more]
Repsol in advanced talks to buy Exxon assets in Gulf of Mexico -sources
Spanish oil giant Repsol SA is in advanced talks to acquire some deepwater assets in the U.S. Gulf of Mexico from Exxon Mobil Corp for about $1 billion, three people familiar with the matter said on Monday. The deal would be a boon to Exxon's plans to accelerate asset sales, as it seeks to raise cash to return to shareholders and fund major projects. Suppressed oil prices have weighed on the appetite of oil majors to buy such assets. There is no certainty a deal will be agreed, the [Read more]
Pembina Pipeline Corporation Announces $1.5 Billion Public Note Offering
CALGARY, Sept. 9, 2019 /CNW/ - Pembina Pipeline Corporation ("Pembina") (TSX: PPL; NYSE: PBA) announced today that it has agreed to issue $1.5 billion of senior unsecured medium-term notes (the "Offering"). The Offering will be conducted in three tranches consisting of $600 million in senior unsecured medium-term notes, series 14 (the "Series 14 Notes") having a fixed coupon of 2.56% per annum, paid semi-annually, and maturing on June 1, 2023; $600 million in senior unsecured medium-term notes, [Read more]
Suncor Energy to invest $1.4 billion in low-carbon power cogeneration at its Oil Sands Base Plant
All financial figures are in Canadian dollars Delivers superior returns and a significant contributor to the company’s goal of growing incremental free funds flow by $2 billion by 2023 Suncor’s greenhouse gas (GHG) emissions associated with steam production at Base Plant will be reduced by approximately 25% GHG emissions in the province of Alberta will be reduced by approximately 2.5 megatonnes per year CALGARY, Alberta, Sept. 09, 2019 (GLOBE NEWSWIRE) -- Suncor today announced [Read more]
Alberta opens public submissions for environmentalist foreign funding inquiry
EDMONTON - The Alberta government has started a website to allow people to submit information to its inquiry into foreign funding of environmental groups. Inquiry commissioner Steve Allan says he is also planning to travel outside the province, with stops in Toronto, Vancouver, Haida Gwaii, B.C. and Washington, D.C. The inquiry is to also make use of American investigations into the activity of Russian social media bots in the United States. An interim report is expected [Read more]
Oil rises as new Saudi minister commits to output cuts
Oil prices rose on Monday after the new Saudi Arabian energy minister, Prince Abdulaziz bin Salman, confirmed expectations that there would be no radical change in his country’s oil policy. Prince Abdulaziz, son of Saudi King Salman and a long-time member of the Saudi delegation to the Organization of the Petroleum Exporting Countries, replaced Khalid al-Falih on Sunday. Global benchmark Brent LCOc1 crude futures were up 46 cents at $62.00 a barrel by 1011 GMT, while U.S. West Texas [Read more]
Baytex Provides Corporate Update and Board Appointment
CALGARY, Alberta, Sept. 09, 2019 (GLOBE NEWSWIRE) -- The Board of Directors of Baytex Energy Corp. (TSX, NYSE: BTE) announces a corporate update and board appointment. Corporate Update Strong operating performance has continued across our asset base during the third quarter. Despite the volatility in crude oil prices, we continue to drive capital efficiencies across our business, deliver stable production and meaningful free cash flow. We are now forecasting average production for 2019 [Read more]
Discover emerging technologies in Inspection and Maintenance Robotics
The SPRINT Robotics Collaborative, a global not-for-profit consortium, is hosting an open event on September 10th at the Calgary Petroleum Club from 11:30 AM - 2:30 PM. This unique open event showcases various market-ready robotic and digital technologies that increase efficiency, accuracy and improve safety for operations in the oil, gas and chemical industries. The open event in Calgary is one of the stops on the SPRINT Robotics Canada Roadshow, which travels to major oil companies in [Read more]
As the drilling season approaches, now is the best time for service companies to advertise on the BOE Report
As drilling season and all of its stresses approach, service companies need to ensure that they stay visible to oil and gas producers as they contemplate the services they may be using in the near-term. The BOE Report is the predominant source for oil and gas news, activity and information for oil and gas producers. Over 400 producing companies use the site every day–over 100,000 users in Alberta read the BOE Report monthly. Both banner advertisements and sponsored announcements are open. [Read more]