Calgary, Alberta - LEUCROTTA EXPLORATION INC. (TSXV: LXE) ("Leucrotta" or the "Company") is pleased to announce its financial and operating results for the three and nine months ended September 30, 2021. All dollar figures are Canadian dollars unless otherwise noted. HIGHLIGHTS Drilled 4-well pad at Mica, BC expected to be completed in Q4 2021. September 30, 2021 adjusted working capital (1) balance of $45.5 million. Increased adjusted funds flow(1) by 231% to $1.9 million [Read more]
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U.S. natgas futures slide on rising output, lower demand forecast
U.S. natural gas futures slid about 3% on Wednesday as output continues to rise and on forecasts for lower heating demand this week than previously expected. The decline came despite record gas futures in Asia and a 32% jump in European prices over the past three days on worries Russian gas giant Gazprom PAO will not deliver enough fuel to Europe for this winter after Germany's energy regulator suspended the approval process for Gazprom's Nord Stream 2 gas pipe from Russia to [Read more]
You’re invited to CAOEC’s State of the Industry
Register now for the CAOEC 2021 State of the Industry, taking place on Tuesday, November 23 at the Calgary Petroleum Club. The State of the Industry is not only welcomed by CAOEC members as a capstone event for the year, but it is widely covered by mainstream media as one of the most accurate barometers of industry activity with the release of CAOEC’s 2021 State of the Industry Report, and 2022 Drilling Forecast. In addition to an exclusive preview of the 2022 Drilling Forecast, this [Read more]
U.S. offshore oil auction begins under court order, shadow of climate deal
The Biden administration on Wednesday will auction oil drilling rights to 80 million acres in the U.S. Gulf of Mexico days after joining a global agreement that for the first time targeted fossil fuels as the main driver of global warming. The sale by the Department of Interior will be the first under President Joe Biden, whose administration paused drilling sales under a promise to end development on federal properties. But Biden lost a court fight to oil-producing states that sued to [Read more]
Vesta Energy Corp. announces completion of its offer to exchange new 10.000% second lien senior secured step-up notes due 2026 for its 8.125% senior unsecured notes due 2023 and related consent solicitation
CALGARY, AB - Vesta Energy Corp. ("Vesta") is pleased to announce that it has completed its previously announced offer to exchange newly issued 10.000% second lien senior secured step-up notes due October 15, 2026 (the "New Notes") for properly tendered, and not validly withdrawn, 8.125% senior unsecured notes due July 24, 2023 (the "Existing Notes") (the "Exchange Offer") and related consent solicitation (the "Consent Solicitation"). The terms and conditions of the Exchange Offer and Consent [Read more]
Michigan judge rejects attorney general’s effort to move Line 5 case to state court
WASHINGTON - Calgary-based Enbridge Inc. scored a key victory in the Line 5 dispute Tuesday as a judge in Michigan rejected the state attorney general's bid to get the dispute over the cross-border pipeline kicked out of federal court. U.S. Circuit Court Judge Janet Neff issued the long-awaited written ruling late Tuesday, agreeing with Enbridge that its dispute with Michigan Gov. Gretchen Whitmer's administration involves "substantial federal issues." The decision resolves one of the [Read more]
New oil and gas jobs from BOE Report Jobs
Here are the latest oil and gas job postings courtesy BOE Report Jobs. To search and filter all the latest jobs, visit the BOE Report job board. All job listings are free to post for companies. Sign up to create an account to post jobs; it’s simple and easy to use. Posting Date Job Title Company Location Nov. 15 Recruiter Strike Group Calgary Nov. 15 Proposal Coordinator - 1 Year Maternity Leave Strike Group Airdrie Nov. 15 Project Manager Summit, An Earth [Read more]
Enbridge shuts part of natural gas pipeline due to British Columbia flooding
Enbridge Inc has shut one of the two pipelines that make up its Westcoast natural gas pipeline in British Columbia as a precautionary measure due to heavy flooding in the province, a company spokesman said on Tuesday. The Westcoast pipeline usually delivers 1.5 billion to 1.8 billion cubic feet of gas per day (bcf/d) to the lower mainland of British Columbia and the U.S. Pacific Northwest. With part of the pipeline shut down, Enbridge expects to be able to deliver 1.4 bcf/d to customers, [Read more]
Judge rules Enbridge Line 5 oil pipeline case with Michigan be heard in federal court
A legal battle between Enbridge Inc and the state of Michigan over Enbridge's Line 5 oil pipeline will be heard in US federal court, a judge ruled on Tuesday, dismissing Michigan's motion to have the case removed to state court. Canadian pipeline company Enbridge and the state of Michigan have been locked in a long-running dispute over Line 5, which ships 540,000 barrels per day of crude and refined products from Superior, Wisconsin, to Sarnia, Ontario, via the Straits of Mackinac in the [Read more]
Advancing the commercial potential of geothermal energy for oil sands mines
CALGARY, Alberta - A new study investigating the application of geothermal energy in oil sands mining is moving the commercial potential of this renewable energy source closer to reality. Canada’s Oil Sands Innovation Alliance (COSIA) has partnered with Eavor Technologies Inc. and C-FER Technologies to conduct a high-level economic feasibility assessment of Eavor’s technology, Eavor-Loop™, as a method of providing thermal energy to an oil sands mine over a 30-year project life. The study, [Read more]