U.S. natural gas futures eased on Tuesday, as the market takes a break after soaring almost 12% in the prior session on rising output and forecasts for the weather to remain milder than normal through early November. Though the weather is expected to remain mild, prices declined as meteorologists forecast next week will be cooler and heating demand higher than previously expected and as a rise in global gas prices keeps demand for U.S. liquefied natural gas (LNG) exports strong. Gas prices [Read more]
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Producing alberta mineral titles for sale
The Estate of Margaret Brassington (deceased) is offering for sale two quarter sections of freehold mineral interests, each of which is producing crude oil and generating royalties. These interests comprise: All mines and minerals except coal within, upon or under the Southwest Quarter of Section 5-49-1 W4M comprising 64.3 hectares (160 acres); and All mines and minerals except coal within, upon or under the Northeast Quarter of Section 19-49-1 W4M excepting thereout any of the waters [Read more]
PrairieSky announces 2021 third quarter results and sustainability-linked credit facility
CALGARY, Alberta - PrairieSky Royalty Ltd. ("PrairieSky" or the "Company") (TSX: PSK) is pleased to announce its third quarter operating and financial results for the period ended September 30, 2021 ("Q3 2021"). PrairieSky is also pleased to announce an extension and expansion of the Company’s credit facility which has been reconstituted as a sustainability-linked loan, reinforcing PrairieSky’s environmental, social and governance leadership and performance. Third Quarter 2021 [Read more]
Establishment of B.C. Centre for Innovation and Clean Energy
Executive team and board of directors announced VANCOUVER, BC - The British Columbia Centre for Innovation and Clean Energy (CICE), is now operational with the appointment of an executive team and board of directors. The CICE was founded by the Government of British Columbia, Government of Canada and Shell Canada and will bring together innovators, industry, governments and academics to accelerate the commercialization and scale-up of B.C.-based clean energy technologies. It is also [Read more]
Oil prices on the march again in tight market; U.S. crude at 7-yr high
Oil prices rose on Monday, extending pre-weekend gains, with U.S. crude hitting a seven-year high as global supply remained tight amid strong demand worldwide as economies recover from coronavirus pandemic-induced slumps. U.S. West Texas Intermediate (WTI) crude futures rose 45 cents, or 0.54%, to $84.67 a barrel, after climbing 1.5% on Friday. It touched its highest since October 2014 - $84.28 - earlier in the session. Brent crude futures climbed 42 cents, or 0.49%, to $86.14 a barrel, [Read more]
Canada boosts U.S. natgas exports, drills more as global prices surge
Demand has jumped for relatively cheap Canadian natural gas, driving exports to the United States to three-year highs and prompting producers in Canada to boost capital spending and drilling activity. Global natural gas prices have hit multi-year highs as world economies recover from last year's slowdown during the pandemic. Now, natural gas stockpiles in Europe are dangerously low and demand in Asia has been insatiable, so utilities around the world are competing for liquefied natural gas [Read more]
Goldman sees upside risks to $90/bbl Brent price forecast
Goldman Sachs said a strong rebound in global oil demand could push Brent crude oil prices above its year-end forecast of $90 per barrel. The U.S. investment bank said it expected oil demand will shortly reach pre-COVID-19 levels of around 100 million barrels per day (bpd) as consumption in Asia rebounds after the Delta COVID-19 wave. In addition, the bank estimated gas-to-oil switching may contribute at least 1 million bpd to oil demand. "While not our base-case, such persistence would [Read more]
Athabasca Oil Corporation closes US $350 million senior secured notes financing, enters into a C $110 million credit facility and provides strategic update
CALGARY, Alberta - Athabasca Oil Corporation (TSX: ATH) (“Athabasca” or the “Company”) announces that it has closed the issuance of US$350 million of Senior Secured Notes and the syndication of a $110 million reserve based credit facility. Athabasca’s strategy is to position itself as a low leveraged company that will generate significant free cash flow through its low-decline, oil weighted asset base. The refinanced capital structure provides certainty to shareholders of the Company’s [Read more]
U.S. natgas futures jump 6% to 1-week high on cooler weather forecasts
U.S. natural gas futures soared about 6% to a one-week high on Monday on expectations liquefied natural gas (LNG) exports will rise and forecasts calling for cooler weather and higher heating demand over the next two weeks than previously expected. Even though the weather will be cooler over the next two weeks, it was still forecast to remain milder than normal through early November. The U.S. price spike also occurred despite a slight decline in global gas prices and an increase in U.S. [Read more]
Razor Energy Corp. announces closing of private placement
CALGARY, Alberta - Razor Energy Corp. (“Razor” or the “Company”) (TSXV: RZE) is pleased to announce that it has closed its previously announced private placement of common shares of Razor (each, a “Razor Share”) for a subscription price of $0.84 per Razor Share (the “Issue Price”) with Alberta Investment Management Corporation (“AIMCo”), on behalf of certain of its clients, and certain members of management (the “Private Placement”). Pursuant to the Private Placement, AIMCo has subscribed for [Read more]