CALGARY, AB - The Canadian Association of Petroleum Producers (CAPP) has released its Energy Platform for Canada for the 2021 federal election. The platform is a forward-looking, solutions-based document outlining the crucial role Canada's natural gas and oil industry plays in three vital areas: Recovery - the energy industry is a primary engine in the country's economy and can help drive Canada's recovery by putting people back to work, creating investment, exports and economic growth, [Read more]
Headlines
Entropy Inc. initiates formal process to pursue alternatives to fund carbon capture and sequestration (CCS) growth initiatives
CALGARY, AB - Entropy Inc. ("Entropy" or the "Corporation", a subsidiary of Advantage Energy Ltd., "Advantage") is pleased to announce the initiation of a formal process to explore alternatives for raising external capital, including a private placement of equity securities of the Corporation (the "Financing"). Entropy intends that the net proceeds from the Financing would be used to fund the commercial development of Carbon Capture and Sequestration ("CCS") projects using Entropy's [Read more]
NuVista Energy Ltd. Releases 2020 ESG Report
CALGARY, Alberta, Aug. 23, 2021 (GLOBE NEWSWIRE) -- NuVista Energy Ltd. (“NuVista” or the “Company”) (TSX:NVA) is pleased to announce the release of our 2020 Environmental, Social, and Governance (“ESG”) Report. This report, available for viewing on NuVista’s website, highlights our ESG performance through 2019 and 2020. We are proud to share the progress we’ve made on advancing our ESG priorities. 2020 ESG Highlights include: Over 50% reduction in annual Greenhouse Gas Emissions [Read more]
Oil prices snap 7-day losing streak as investors hunt for bargains
Oil prices rose on Monday, recovering from a seven-day losing streak as investors hunted for bargains and a softer dollar lent support, though persistent anxiety over surging cases of the Delta coronavirus variant kept sentiment cautious. U.S. West Texas Intermediate (WTI) crude futures for October rose $2.97, or 4.73%, to $64.85 a barrel, recovering from $61.74, the lowest since May 21, touched in Asia's early trade. Brent crude futures climbed $2.96, or 4.56%, to $67.93 a barrel, after [Read more]
i3 Energy PLC announces closing of previously announced acquisition
EASTLEIGH, UK - i3 Energy plc (AIM:I3E)(TSX:ITE), an independent oil and gas company with assets and operations in the UK and Canada, is pleased to announce that its wholly owned Canadian subsidiary has closed i3's previously announced (7 July 2021) strategic Central Alberta asset acquisition from Cenovus Energy Inc., a senior Canadian oil and gas producer, for a total consideration of CA$65 million (US$53.7 million) (the 'Acquisition'). The strategic Acquisition, within i3's Central Alberta [Read more]
Southern Energy Corp. announces Q2 2021 financial and operating results
CALGARY, AB - Southern Energy Corp. ('Southern' or the 'Company') (TSXV:SOU)(AIM:SOUC) today announces the release of its second quarter financial and operating results for the three and six months ended June 30, 2021. Southern is an established producer with natural gas and light oil assets in Mississippi and Alabama characterized by a stable, low-decline production base, a significant low-risk drilling inventory and strategic access to the best commodity pricing in North America. Selected [Read more]
Inter Pipeline investors back Brookfield offer – Bloomberg News
Brookfield Infrastructure Partners LP has won enough backing from Inter Pipeline Ltd shareholders to push ahead with its C$8.6 billion ($6.71 billion) takeover, Bloomberg News reported on Friday. The development likely ends a five-month bidding war for the Canadian pipeline operator. Inter Pipeline had recommended its investors accept Brookfield's revised C$8.58-billion offer of cash or shares, after walking away from a deal with rival Pembina Pipeline Corp. The offer has a minimum [Read more]
Canada’s weekly rig count down 10 to 160
Canada averaged 160 active drilling rigs this week according to data from the Canadian Association of Energy Contractors. Of those rigs, 26% are drilling for natural gas, 62% are drilling for oil, 3% for other (helium, hydrogen, geothermal, or potash), and 9% are moving. Drilling activity by province is 71% in Alberta, 15% in Saskatchewan, 11% in BC, and 3% elsewhere. Precision Drilling holds the majority of the Canadian market share with 34%, Ensign Drilling with 26%, Savanna Drilling [Read more]
Petrus Resources announces extension to credit agreements
CALGARY, Alberta - Petrus Resources Ltd. ("Petrus" or the "Company") (TSX: PRQ) announces its syndicate of lenders has extended the borrowing base termination date on its senior revolving credit facility agreement from August 20, 2021 to August 27, 2021. The Company's second lien term loan provider has also agreed to extend the maturity date of the Company's second lien term loan from October 21, 2021 to October 28, 2021. The Company continues to be in discussions with the bank syndicate on a [Read more]
U.S. oil and gas rigs rise for third week
U.S. energy firms this week added oil and natural gas rigs for a third week in a row, as a recovery in oil prices prompted some drillers to return to the wellpad over the past year. The oil and gas rig count, an early indicator of future output, rose three to 503 in the week to Aug. 20, its highest since April 2020, energy services firm Baker Hughes Co said in its closely followed report on Friday. That puts the total rig count nearly double from the same period last year, when rig count [Read more]