Oil prices extended gains for a fourth session on Thursday to reach the highest levels in more than 13 months, underpinned by an assurance that U.S. interest rates will stay low, and a sharp drop in U.S. crude output last week due to the storm in Texas. U.S. West Texas Intermediate crude for April was at $62.80 a barrel, down 62 cents, 0.96%. Brent crude futures for April lost 57 cents, 0.86%, to $66.66 a barrel. Both contracts touched their highest since Jan. 8, 2020, earlier in the [Read more]
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Remanufactured oilfield equipment products
When purchasing oilfield equipment, you need to consider a few critical factors, such as equipment life span, cost, availability, and production timeline. Oilfield equipment comes in a variety of conditions: New: Equipment that has never been used and is typically sold by the original equipment manufacturer. New Surplus: These products have never been used but may have been built some time ago, so they may not have the latest features and may show some cosmetic imperfections. This [Read more]
Kelt provides results of its oil & gas reserves evaluation effective December 31, 2020
Calgary, Alberta - Kelt Exploration Ltd. (TSX: KEL) ("Kelt" or the "Company") is pleased to report on its oil & gas reserves and production for the year ended December 31, 2020. Kelt retained Sproule Associates Limited ("Sproule"), an independent qualified reserve evaluator to prepare a report on its oil and gas reserves. The report is effective as of December 31, 2020. The Company has a Reserves Committee which oversees the selection, qualifications and reporting procedures of the [Read more]
Petrus Resources announces year end 2020 financial, operating & reserves results; significant net debt reduction
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 twelve months ended December 31, 2020 and to provide 2020 year end reserves information as evaluated by Sproule Associates Limited ("Sproule"). The Company's Management's Discussion and Analysis ("MD&A") and audited consolidated financial statements are available on SEDAR (the System for Electronic Document Analysis and Retrieval) at [Read more]
Perpetual Energy Inc. reports fourth quarter and year-end 2020 financial and operating results and reserves
CALGARY, AB – Perpetual Energy Inc. ("Perpetual", or the "Company") is pleased to release its fourth quarter and year-end 2020 financial and operating results and a summary of the Company's year-end 2020 reserves as reported by the independent engineering firm McDaniel and Associates Consultants Ltd. ("McDaniel"). A complete copy of Perpetual's audited consolidated financial statements, Management's Discussion and Analysis ("MD&A") and Annual Information Form for the year ended December 31, [Read more]
Obsidian Energy announces extension to our syndicated credit facility and provides hedging update
Calgary, Alberta - OBSIDIAN ENERGY LTD. (TSX: OBE) (OTCQX: OBELF) ("Obsidian Energy", the "Company", "we", "us" or "our") announces an extension of our syndicated credit facility to March 31, 2021 and provides a hedging update. CREDIT FACILITY EXTENSION The Company has entered into an agreement with lenders to extend our syndicated credit facility to March 31, 2021. The syndicated credit facility has an underlying borrowing base of $550 million with $450 million available to be drawn; both [Read more]
Suncor Energy announces Russ Girling to stand for election to Board of Directors
CALGARY, Alberta, Feb. 24, 2021 (GLOBE NEWSWIRE) -- Suncor today announced that Russ Girling will stand for election to the Suncor Board of Directors at the company’s next Annual General Meeting to be held on May 4, 2021. “With an extensive career in the energy industry spanning 35 years, I’m pleased that Russ Girling has agreed to stand for election to Suncor’s Board of Directors,” said Board Chair Michael Wilson. “Russ is well known in the North American energy industry and broader business [Read more]
Whitecap Resources Inc. announces strong 2020 results, completes transformation to a leading light oil producer and provides 2021 budget
CALGARY, AB - Whitecap Resources Inc. ("Whitecap" or the "Company") (TSX: WCP) is pleased to report its operating and audited financial results for the quarter and year ended December 31, 2020. Selected financial and operating information is outlined below and should be read with Whitecap's audited annual consolidated financial statements and related management's discussion and analysis for the three and twelve months ended December 31, 2020 which are available at www.sedar.com and on our [Read more]
Baytex announces fourth quarter and full year 2020 financial and operating results and year end 2020 reserves
CALGARY - Baytex Energy Corp. ("Baytex") (TSX: BTE) reports its operating and financial results for the three months and year ended December 31, 2020 (all amounts are in Canadian dollars unless otherwise noted). “In 2020, we responded aggressively to the downturn brought on by Covid-19, improved our cost structure and capital efficiencies, exceeded our GHG emissions intensity target, and enhanced our overall sustainability. The strong recovery in commodity prices in early 2021 has us on track [Read more]
‘A shiny toy’: The Alberta petrochemical complex at the heart of Brookfield’s Inter Pipeline bid
Inter Pipeline Ltd's ambitious petrochemical plant was meant to unlock new markets, instead it has left the Canadian company battling cost overruns and vulnerable to a hostile C$7.08 billion ($5.64 billion) takeover from Brookfield Infrastructure Partners. Some investors have ruled out a rival bid to Monday's offer for the oil and gas transportation company, and expect Brookfield to snap up Inter just before its newest asset, the Heartland Petrochemical Complex, comes into service. The C$4 [Read more]