EASTLEIGH, UK / ACCESSWIRE / August 16, 2021 / 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 provide the following update. Highlights: Recent strategic acquisition of approximately 8,400 barrels of oil equivalent per day ('boepd') from Cenovus Energy Inc. ('Cenovus') expected to close on or around 20 August 2021. Closed both the South Simonette and Wapiti acquisitions and commenced well reactivation [Read more]
Headlines
Oil industry sues Biden administration over drilling auction pause
Major U.S. oil industry groups on Monday sued the Biden administration for halting drilling auctions on federal lands and waters this year, arguing the government is required by law to hold regular sales. The American Petroleum Institute (API) and 11 other groups filed the lawsuit in federal court in the Western District of Louisiana. It seeks to compel the U.S. Department of Interior to reinstate oil and gas lease sales, which the administration paused in January pending a review of the [Read more]
Petro Viking Energy Inc. newly appointed director and chief executive officer provides a corporate update
Calgary, Alberta – Petro Viking Energy Inc. (“Petro Viking” or the “Company”) (CNSX:VIK.CN) (CNSX:VIK.V.CN) is pleased to provide a Corporate update on the closing of the asset purchase of 100% of Avila Energy’s interests in 53,835 Acres, 43,935 Acres (Net), of mineral rights, associated wells, pipelines and facilities for $50,664,000. As part of the previously announced binding agreement for the acquisition on June 14th, 2021, after waiving all further due diligence, Leonard Van Betuw accepted [Read more]
Oil prices slide as Chinese fuel demand falters
Oil prices fell more than 1% on Monday, dropping for a third session, after official data showed that refining throughput and economic activity slowed in China in an indicator that fresh COVID-19 outbreaks are crimping the world's no.2 economy. U.S. West Texas Intermediate (WTI) crude dropped $1.89, or 2.77% to $66.03. Brent crude was down $1.86 cents, or 2.65%, at $68.35 a barrel. Factory output and retail sales growth slowed sharply in July in China, data showed, missing expectations as [Read more]
Vermilion Energy Inc. announces results for the three and six months ended June 30, 2021
CALGARY, AB - Vermilion Energy Inc. ("Vermilion", "We", "Our", "Us" or the "Company") (TSX: VET) (NYSE: VET) is pleased to report operating and condensed financial results for the three and six months ended June 30, 2021. The unaudited interim financial statements and management discussion and analysis for the three and six months ended June 30, 2021 will be available on the System for Electronic Document Analysis and Retrieval ("SEDAR") at www.sedar.com, on EDGAR at www.sec.gov/edgar.shtml, [Read more]
SNC-Lavalin completes closing of Resources Oil & Gas business
MONTREAL - SNC-Lavalin (TSX: SNC), a fully integrated professional services and project management company with offices around the world, today announces that it has completed the closing of the sale of its Resources Oil & Gas business on August 15, following receipt of Saudi Arabian regulatory approval. SNC-Lavalin previously announced that it had closed the sale of a substantial portion of its Resources Oil & Gas business on July 29, pursuant to its binding agreement with Kentech [Read more]
Bonterra Energy Corp. announces appointment of new board member
CALGARY, AB - Bonterra Energy Corp. (www.bonterraenergy.com) (TSX: BNE) ("Bonterra" or the "Company") is pleased to announce the appointment of Ms. Stacey McDonald to its Board of Directors (the "Board"), effective August 16, 2021. With more than 16 years of experience across the energy and finance sectors, deep knowledge of capital markets, financial analysis and the oil and natural gas industry, Bonterra believes Ms. McDonald will bring valuable insights and meaningful contributions to [Read more]
Canada’s weekly rig count up 10 to 170
Canada’s active rig count improved by 10 and averaged 170 active drilling rigs this week according to data from the Canadian Association of Energy Contractors. Of those rigs, 29% are drilling for natural gas, 60% are drilling for oil, 4% for other (helium, hydrogen, geothermal, or potash), and 7% are moving. Drilling activity by province is 69% in Alberta, 16% in Saskatchewan, 11% in BC, 2% in Manitoba, and 2% elsewhere. Precision Drilling holds the majority of the Canadian market share [Read more]
Petrus Resources Announces Extension to Credit Agreements
CALGARY, Alberta, Aug. 13, 2021 (GLOBE NEWSWIRE) -- 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 13, 2021 to August 20, 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 14, 2021 to October 21, 2021. The Company continues to be in [Read more]
Petro Viking Energy Inc. announces new Director and Chief Executive Officer
Calgary, Alberta - TheNewswire – August 13th, 2021 – Petro Viking Energy Inc. (Canadian SEC: VIK) (CNSX:VIK.CN) (“Petro Viking” or the “Company”) is pleased to announce the appointment of Leonard Van Betuw as the Company’s new Director and Chief Executive Officer, effective July 14, 2021. Mr. Van Betuw replaces Gregory Doucette, the former President and CEO of the Company. Mr. van Betuw was awarded a BSc (Hon.) Degree in Geophysics in 1987 becoming recognized for his expertise in the area of [Read more]