Oil prices were steady on Thursday following two days of gains after a call from the United States, the world's top oil consumer, for major producers to boost output reinforced supply concerns as economies ease their coronavirus restrictions. They were also boosted by a pullback in U.S. dollar, which can send speculative investors into greenback-denominated assets like commodities. U.S. West Texas Intermediate (WTI) crude futures was down 31 cents, or 0.45% to $68.99. Brent crude futures [Read more]
Headlines
Canada natgas prices drop at Alberta AECO hub on pipe work
Canadian natural gas prices at the AECO hub in Alberta dropped by the most this week in almost two years as pipeline maintenance prevented some gas from flowing out of the region. Next-day prices at AECO dropped from $2.54 per million British thermal units (mmBtu) on Tuesday to $1.41 on Wednesday, their lowest since October 2020, before edging up to $1.44 on Thursday. That 45% drop was the contract's biggest daily percentage decline since September 2019. Analysts at data provider [Read more]
Questerre reports second quarter 2021 results
CALGARY, Alberta - Questerre Energy Corporation (“Questerre” or the “Company”) (TSX,OSE:QEC) reported today on its financial and operating results for the second quarter ended June 30, 2021. Michael Binnion, President and Chief Executive Officer, commented, “We took advantage of higher prices to reduce net debt in the first half of the year. Our net debt stands at under $2 million compared to approximately $8 million at year-end. Although capital spending has been limited to date, if prices [Read more]
Prairie Provident Resources announces second quarter 2021 financial and operating results
CALGARY, Alberta - Prairie Provident Resources Inc. ("Prairie Provident", "PPR" or the "Company") today announces our financial and operating results for the three and six months ended June 30, 2021. PPR’s unaudited condensed interim consolidated financial statements for the three and six months ended June 30, 2021 and related Management’s Discussion and Analysis (“MD&A”) for the same periods are available on our website at www.ppr.ca and filed on SEDAR. MESSAGE TO SHAREHOLDERS Tony [Read more]
Pan Orient Energy Corp. – 2021 second quarter financial & operating results
CALGARY, AB - Pan Orient Energy Corp. ("Pan Orient" or the "Company") (TSXV: POE) reports 2021 second quarter consolidated financial and operating results. Please note that all amounts are in Canadian dollars unless otherwise stated and BOPD refers to barrels of oil per day. The Company is today filing its unaudited consolidated financial statements as at and for the six months ended June 30, 2021 and related management's discussion and analysis with Canadian securities regulatory [Read more]
Petrus Resources announces second quarter 2021 financial & operating results
CALGARY, Alberta - Petrus Resources Ltd. (“Petrus” or the “Company”) (TSX: PRQ) is pleased to report financial and operating results as at and for the three and six months ended June 30, 2021. Petrus is focused on generating free cash flow for debt repayment and further development of its Ferrier Cardium asset. Throughout the second quarter of 2021, global economies continued to show promise of a post-pandemic recovery. Increased demand for oil and natural gas persisted, which further [Read more]
Long-time energy partners Irving Oil and TC Energy strike a made-in-Canada agreement focused on reducing emissions and creating new value
SAINT JOHN, NB - TC Energy Corporation (TSX: TRP) (NYSE: TRP) (TC Energy) and privately held Irving Oil have signed a memorandum of understanding (MOU) to explore the joint development of a series of proposed energy projects focused on reducing greenhouse gas emissions and creating new economic opportunities in New Brunswick and Atlantic Canada. Together, the two energy companies have identified a series of potential projects for exploration focused on decarbonizing current assets and [Read more]
Well of the Week – The first gas well in Western Canada
Welcome to the debut of the Petro Ninja(TM) - Enlighten Geoscience Well of the Week (WotW), now a weekly feature on the BOE Report. There is a lot packed into this first of many posts to come. Previously available through the Enlighten Geoscience blog and LinkedIn posts, the WotW celebrates the fascinating and colourful history of the western Canadian oil and gas industry by telling the story of a key well that exemplifies a particular period or play. We are grateful for the opportunity to now [Read more]
Drivers accelerate oil demand recovery but road ahead may be bumpy
European and U.S. gasoline stocks have fallen to near pre-pandemic levels as Western holidaymakers hit the roads, but the end of the driving season and the spread of the Delta variant of the coronavirus could slow the recovery in global oil demand. The pandemic and resulting lockdowns around the world destroyed demand for oil products and led to massive stock builds in 2020 which have been gradually depleting this year. The International Energy Agency said on Thursday that global oil [Read more]
Pieridae releases Q2 2021 results
Key Highlights: Natural gas production of 194 mmcf/day in the quarter Total production of 38,404 boe/day Petroleum and natural gas revenue of $71.4 million, an increase of $17.1 million or 32% compared to the same quarter in 2020 Cash flow from operations of $12.1 million Net Operating Income1 (“NOI”) of $14.4 million and Adjusted Funds Flow From Operations1 (“AFFO”) of $8.5 million Delivered our inaugural ESG report in late June 2021, anchored by our commitment of net zero [Read more]