Are you familiar with Sam Bankman-Fried, the crypto-whiz kid that started crypto-exchange FTX, the 30-year-old worth $30 billion, some were hailing as the new Warren Buffett? His empire is now a pile of rubble, and against all legal advice he’s been delightfully verbose about the epic failure. Here’s a text exchange with a reporter, grammar verbatim: Q: you were really good at talking about ethics, for someone who saw it all as a game with winners and losers A: ya… A: hehe A: I had [Read more]
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Inclusive Energy – Unique Investment Platform: Providing capital funding & customized equipment for the Canadian energy industry
To complement its Equipment Operations, lnclusive Energy Ltd. (“Inclusive”) has diversified its oil & gas portfolio through the successful creation of a Private Equity Capital Fund dedicated to investing in the Canadian energy industry. Inclusive has implemented strategic partnerships and financings with a number of Canadian oil and gas producers. These investment partnerships establish a natural strategic alignment where producing companies benefit from access to both financial resources [Read more]
International Petroleum Corporation announces 2022 year-end financial results, sanction of Blackrod Phase 1, Canadian M&A update and 2023 sustained shareholder return framework
International Petroleum Corporation (IPC or the Corporation) (TSX, Nasdaq Stockholm: IPCO) today released its financial and operating results and related management’s discussion and analysis (MD&A) for the year ended December 31, 2022. IPC is also pleased to announce its 2023 budget and plans including: sanction of the Blackrod Phase 1 development proposed acquisition of Cor4 Oil Corp. (Cor4) in Canada intention to continue the normal course issuer bid / share repurchase program [Read more]
Alberta Enterprise Corporation invests further into cleantech for an evolving energy industry
EDMONTON, AB - Alberta Enterprise announced today that it has invested USD $10 million into Evok Innovations second fund to continue developing and deploying clean technologies to accelerate the world's energy transition with a focus on carbon capture, electrification and hydrogen. AEC invests in Evok to accelerate the development of critical energy transition and industrial decarbonization. Recently, Evok announced its first Fund II investments, which included participation in a USD $50 [Read more]
Western Canada Select discount narrows
Western Canada Select (WCS) crude's discount to the benchmark West Texas Intermediate (WTI) tightened on Monday. WCS for March delivery in Hardisty, Alberta, traded between $21.80 and $20.00 a barrel below WTI, according to brokerage CalRock, strengthening from Friday, when it traded at $22.50 a barrel under the U.S. benchmark. Canadian heavy crude has been steadily narrowing this year following the completion of the U.S. Strategic Petroleum Reserve release in 2022 that flooded the market [Read more]
Whitecap Resources Inc. closes dispositions and announces fourth quarter and year end 2022 results conference call / webcast
CALGARY, AB - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to announce that it has closed all three previously announced dispositions of certain non-strategic assets for aggregate consideration of $419 million, including $394 million of cash, prior to closing adjustments, and producing assets that consolidate the working interest in one of our core assets. Proceeds from the dispositions have been used to reduce net debt1 to $1.5 billion which accelerates [Read more]
TOP WELL REPORT – December volumes – Ovintiv has all 15 top natural gas wells while top liquids wells come from Montney, Clearwater and Charlie Lake producers
The December data is out for the highest producing oil and gas wells in Canada. As always, we use calendar day production metrics so these are real volumes produced in the month. In a truly impressive feat, Ovintiv has claimed all of the top 15 natural gas wells for a 2nd consecutive month. The list of the top 15 liquids wells (oil + condensate) and top 15 natural gas wells based on production from the month of December is below. You can also click on the link below to view the wells all on [Read more]
PrairieSky Announces Fourth Quarter and Record Year-End Results for 2022, Including Record Annual Oil Production Volumes, Revenues, Funds From Operations and Leasing Activity; Ongoing Recognition as a Global Sustainability Leader
CALGARY, Alberta, Feb. 06, 2023 (GLOBE NEWSWIRE) -- PrairieSky Royalty Ltd. ("PrairieSky" or the "Company") (TSX: PSK) is pleased to announce its fourth quarter ("Q4 2022") and year-end operating and financial results for the period ended December 31, 2022. Fourth Quarter Highlights: Royalty production volumes averaged 25,914 BOE per day, a 27% increase over Q4 2021 and a 4% increase over Q3 2022, which included 12,166 barrels per day of oil royalty production. Quarterly revenues [Read more]
U.S. rig count outlook cut by Raymond James on low natural gas prices
Raymond James trims its 2023 U.S. rig count forecast to 750 from 813 on lower natural gas prices; lowers PT of some of the oilfield services companies. U.S. natural gas futures fell by 40% in January. Mild winter weather, stronger U.S. production growth and the continued delays in the restart of Freeport LNG have resulted in 'meaningful implied hike' to summer-ending U.S. natural gas storage levels, says Raymond James. "We could see shut-ins later this year as storage approaches full [Read more]
Oil prices edge higher as IEA’s Birol talks up China demand outlook
Oil prices slightly inched up on Monday after falling 8% last week to more than three-week lows as concerns that slower growth in major economies may limit fuel consumption outweighed signs of a demand recovery in China, the world's top oil importer. U.S. West Texas Intermediate (WTI) crude futures climbed 53 cents, or 0.72% higher, to $73.72 a barrel. Brent crude futures rose 83 cents, or 1.05%, to $80.59 a barrel. Last Friday, WTI and Brent slid 3% after strong U.S. jobs data raised [Read more]