U.S. natural gas futures jumped about 4% to a fresh 13-year high on Wednesday as power generators and liquefied natural gas (LNG) export plants consumed more of the fuel. Power companies burned more gas to generate electricity due to a lack of wind in recent weeks. Wind was on track to produce just 10% of U.S. power generation this week, down from a recent high of 16%, while gas was on track to generate about 36% this week, up from a recent low of 33% a few weeks ago. On their second to [Read more]
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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 May. 20 Gas Plant Operator Roska DBO Grande Prairie May. 20 Engineering Intern - TSU (July 2022) Pembina Calgary May. 19 Crew Foreman Strike [Read more]
Leucrotta Exploration Inc. announces securityholder approval of the plan of arrangement at special meeting and provides transaction update
Calgary, Alberta - Leucrotta Exploration Inc. (TSXV: LXE) (the "Corporation") announces that the Corporation's Securityholders (as defined below) approved the previously announced plan of arrangement (the "Arrangement") involving the Corporation, Coelacanth Energy Inc. ("ExploreCo"), Vermilion Energy Inc. ("Vermilion") and the Securityholders at a special meeting of the Securityholders held on Friday, May 20, 2022 (the "Meeting"). The special resolution approving the Arrangement was approved [Read more]
Oil prices inch lower on concerns over recession, China COVID curbs
Oil prices fell on Tuesday as concerns over a possible recession and China's COVID-19 curbs outweighed an expectation of tight global supply and a pick-up in fuel demand with the U.S. summer driving season. U.S. West Texas Intermediate (WTI) crude futures for July delivery dropped 8 cents, or 0.07%, to $110.37 a barrel. Brent crude futures for July rose 37 cents, or 0.33%, to $113.74 a barrel. Both benchmarks fell by more than $1 earlier in the session. Brent gained 0.7% on Monday while [Read more]
Prairie Provident announces Director retirements and planned board refreshment
CALGARY, Alberta - Prairie Provident Resources Inc. (“Prairie Provident”, “PPR” or the “Company”) announces that Mr. Derek Petrie and Mr. Rob Wonnacott have decided to retire from the Board of Directors (the “Board”) and will not be standing for re-election at this week’s annual shareholders' meeting to be held at 10:00 a.m. (Calgary time) on May 26, 2022. Mr. Petrie and Mr. Wonnacott have served on the Board since 2016 and 2011 respectively. “We are grateful for the contributions Derek and [Read more]
U.S. natgas futures ease on output increase, lower demand forecast
U.S. natural gas futures eased about 1% on Tuesday from a near 13-year high in the prior session on a slow increase in monthly output and forecasts for less demand this week than previously expected. That small price decline came despite forecasts for a little more demand next week than previously expected and an increase in the amount of gas flowing to U.S. liquefied natural gas (LNG) export plants to a seven-week high. U.S. front-month gas futures for June delivery fell 3.9 cents, or [Read more]
Cargoes of Russia’s flagship crude oil at sea climb to record high
Some 62 million barrels of Russia's flagship Urals crude oil, a record amount, are sitting in vessels at sea, data from energy analytics firm Vortexa showed, as traders struggled to find buyers for the crude. The United States and other countries have banned imports of Russian crude and oil products over its invasion of Ukraine, and others have avoided acquiring cargoes out of fear of future sanctions. The European Commission is considering an embargo of Russian oil. The volume of Urals [Read more]
Biden weighs reducing tariffs on China, asking OPEC to pump more oil
U.S. President Joe Biden said he was weighing cutting tariffs on Chinese goods while increasing calls on OPEC to raise oil production as he grappled with a politically damaging wave of inflation. "I am considering it. We did not impose any of those tariffs. They were imposed by the last administration and they're under consideration," Biden said on reducing tariffs on China. He made the comments during a news conference with Japanese Prime Minister Fumio Kishida. [Read more]
Canada’s weekly rig count up 3 to 95
Canada averaged 95 active drilling rigs this week according to data from the Canadian Association of Energy Contractors. Of those rigs, 39% are drilling for natural gas, 49% are drilling for oil, 2% for other (helium, hydrogen, geothermal, or potash), and 10% are moving. Drilling activity by province is 78% in Alberta, 9% in Saskatchewan, 7% in BC, and 6% elsewhere. Precision Drilling holds the majority of the Canadian market share with 34%, Ensign Drilling with 24%, Savanna Drilling with [Read more]
U.S. drillers add oil and gas rigs for ninth week in a row
U.S. energy firms this week added oil and natural gas rigs for a ninth week in a row, data showed on Friday, as mostly small producers respond to high prices and prodding by the government to ramp up output. The oil and gas rig count, an early indicator of future output, rose 14 to 728 in the week to May 20, its highest since March 2020, energy services firm Baker Hughes Co said in its closely followed report. Baker Hughes said that puts the total rig count up 273, or 60%, over this time [Read more]