Business owners in the oil and gas industry are focused on finding solutions to help them adapt to today’s challenges. Agility and organization are two key attributes for navigating your organization through this critical period. You need to be agile so you can adapt to new situations to realize opportunities quickly and organized so you can make sure you’re getting paid for your hard work. What’s holding you back from being agile and organized? For many oil and gas clients we work with, it’s [Read more]
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Assessing Western Canada’s readiness to compete in an emerging hydrogen economy
Western Canada has a challenge. And an opportunity. The challenge is that due to global focus on reducing greenhouse gases, fluctuating prices and demand for fossil fuels, and increased public scrutiny on the oil and gas industry in general, it is necessary for us to look for new ways to diversify and respond to these ongoing pressures. The opportunity is that beneath our feet sits the Western Canadian Sedimentary Basin. Its rich hydrocarbon deposits have been at the heart of our industry [Read more]
Delphi Energy Corp. files third quarter 2020 results
CALGARY, Alberta - Delphi Energy Corp. (“Delphi” or the “Company”) announces that it has filed its interim financial statements and related management’s discussion and analysis for the three and nine months ended September 30, 2020 with the Canadian securities regulatory authorities on SEDAR. About Delphi Energy Corp. Delphi Energy Corp. is an industry-leading producer of liquids-rich natural gas. The Company has achieved top decile results through the development of our high quality Montney [Read more]
Briko Energy Corp. announces third quarter 2020 financial and operating results
Calgary, Alberta - Briko Energy Corp. ("Briko" or the "Corporation") is pleased to report its financial and operating results for the three and nine months ended September 30, 2020. Financial and operational information is set out below and should be read in conjunction with Briko's September 30, 2020 condensed unaudited interim financial statements and the related management's discussion and analysis ("MD&A"). Briko's condensed unaudited interim financial statements and MD&A are [Read more]
AltaGas Ltd. announces aggregate $700 million medium term note offerings
CALGARY, AB - AltaGas Ltd. ("AltaGas") (TSX: ALA) today announced that it has agreed to issue $500 million of senior unsecured medium term notes (the "7.5 Year Notes") with a coupon rate of 2.075%, maturing on May 30, 2028 and $200 million of senior unsecured medium term notes (the "10 Year Notes") with a coupon rate of 2.477%, maturing on November 30, 2030 (the "Offering"). The Offering is expected to close on or about November 30, 2020. The net proceeds resulting from the Offering will be [Read more]
Crude-by-rail shipments bounce back from summer lows in September, says CER
CALGARY - Canadian exports of crude oil by rail are bouncing back after falling to an eight-year low in July. The Canada Energy Regulator says rail shipments of oil in September amounted to 94,440 barrels per day, nearly double the 51,000 bpd shipped in August. Only 39,000 bpd was shipped in July. That's less than a tenth of the record 412,000 bpd moved by rail in February. Rail transportation of crude oil is considered to be more expensive than shipping by pipeline so shippers tend to [Read more]
Exxon to cut up to 300 jobs in Canada
U.S. oil major Exxon Mobil Corp said on Wednesday it plans to reduce up to 300 positions in Canada as part of an ongoing cost-cut plan due to a coronavirus-driven slump in oil prices. Reductions will include positions at Imperial Oil Ltd, ExxonMobil Canada Ltd, and ExxonMobil Business Centre Canada ULC, the company said. Oil producers, including Exxon, have been slashing costs due to a collapse in oil demand and ill-timed bets on new projects. The top U.S. oil company had earlier outlined [Read more]
Oil prices rally further on vaccine optimism despite inventory rise
Oil rose for a fourth straight day on Wednesday, shrugging off an industry report showing a higher-than-unexpected rise in U.S. crude stockpiles and extending a rally driven by hopes that a COVID-19 vaccine will boost fuel demand. West Texas Intermediate crude gained 65 cents, or 1.4%, to $45.40 a barrel. Brent crude was up 48 cents, or 0.95%, at $48.28 a barrel. Both contracts are at their highest since early March and have rallied nearly 10% in the last four days. "The broader market [Read more]
Joe Biden, climate defender?
President-elect Joe Biden has made it no secret he plans to be a champion for climate change and the environment, with his nearly $2 trillion climate plan. In his debate with Donald Trump on Oct. 22, Biden stated, “I would transition from the oil industry, yes,” citing climate change as one of his top priorities. Biden’s campaign promises and words said along the campaign trail do not seem to be lining up with everything he’s been doing post-election, walking back comments from his debate [Read more]
TPH advising on sale of selected TAQA North Ltd. assets
Tudor, Pickering, Holt & Co. (“TPH”) has been retained by TAQA North Ltd. to advise on the divestment of selected assets in Alberta and British Columbia. The assets produce ~9,300 boe/d (75% gas) with forecast 2021 NOI exceeding $25 million. For more information including a summary of the assets and packages, to receive a copy of the confidentiality agreement or to arrange a discussion with a member of the TPH team, please contact taqanorth@tphco.ca. Tudor, Pickering, Holt & Co. [Read more]